Ganga Bath Fittings Limited IPO

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The company is engaged in the manufacturing and supply of a comprehensive range of bathroom accessories, including but not limited to:

i)CP taps and parts
ii)Showers and shower drains (SS Showers, Linear Shower Drains)
iii)ABS health faucets, taps, accessories
iv)Bathroom vanities, sinks, sanitary ware
v)Door handles, glass connectors, mirrors, locks
vi)Floor springs and other ancillary products.

Business Verticals

1. Own Brand Sales:
Products manufactured and sold under proprietary brands such as Ganga, Glimpse, Stepian, and Tora.

2. Contract Manufacturing:
Manufacture of bathroom fittings and accessories for third parties under their brand names (OEM).

3. Traded Goods:
Procurement and branding of sanitary ware and accessories under the Ganga brand for resale.

Manufacturing Capabilities

i) The company’s manufacturing facilities are equipped with advanced technology and maintain stringent quality control.

ii)They also produce customized components per customer specifications, emphasizing timely delivery and quality.

iii)Recently, Ganga Bath Fittings has planned capital investments including:

  • Installation of two new electric furnaces to increase production capacity from 225 to 630 metric tons annually.
  • Purchase of 10 grinding machines with dust collectors to support the increased casting capacity.

Conclusion

Ganga Bath Fittings Limited is a growing player in the bathroom fittings industry, with a diversified product portfolio and a focus on quality, customization, and customer service. With recent investments to boost manufacturing capacity and an experienced leadership team, the company aims to capitalize on increasing market demand and expand its footprint in India’s bathroom accessories segment.

Objects of the Ganga Bath Fittings Limited IPO:

The utilization of the Net Proceeds of the Issue is as follows: a. Capital Expenditure towards purchase of equipment/machineries, etc. b. Repayment/prepayment of certain borrowings availed by our Company; c. Funding working capital requirements; and d. General Corporate Purpose

Ganga Bath Fittings Limited IPO Details:

Open Date: Jun 04 2025
Close Date: Jun 06 2025
Total Shares: 66,63,000
Face Value: ₹ 10 Per Equity Share
Issue Size: 32.65 Cr.
Lot Size: 3000 Shares
Issue Price: ₹ 46-49 Per Equity Share
Listing At: NSE Emerge
Listing Date: Jun 11 2025

Promoters And Management:

Mr. Tusharkumar Vithaldas Tilva, Non-Executive Director, aged about 66 years is a Promoter and Director of our Company. Mr. Tusharkumar Vithaldas Tilva completed is 9th pass. He was the Partner in Ganga Plast Industries, Limited Liability Partnership, which inter-alia was engaged in trading and manufacturing of ABS Shower, ABS Health faucet, ABS Taps, ABS Accessories, PTMT Taps etc.. He played a key role in the decision-making process of the firm. He started his career in the distribution sector for a well-known company over 30 years ago. Mr. Jimmy Tusharkumar Tilva, Managing Director, aged about 39 years is the Managing Director of the Company. Mr. Jimmy Tusharkumar Tilva has completed his higher secondary. He has over 20 years of experience in the plastic segment and the manufacturing of technical products. He initiated his career with a family-owned piping company before venturing into independent business, where he used to manufacture PTMT taps as well as ABS products. Mr. Sajan Tusharbhai Tilva, Executive Director, aged about 33 years is an Executive Director of our Company. Mr. Sajan Tusharbhai Tilva has completed his higher secondary. He oversees the administration and finance department of the Company. He has over 14 years of experience in handling finance and administration department of our manufacturing units. He has been instrumental in sourcing business for the Company from many multinational companies (MNCs).

Financials of Ganga Bath Fittings Limited IPO:

Particular (In Lakh) 9MFY25 Mar-24 Mar-23 Mar-22
Revenue From Operation 2246 1358 1218 1067
EBITDA 568 163 140 76
EBITDA Margin 25.29% 12.04% 11.49% 7.13%
PAT 361 59 9 1
PAT Margin 16.06% 4.38% 0.76% 0.07%
RoE 16.30% 15.07% 6.85% 0.60%
CFOA -130 -99 16 68

Comparison With Peers:

Name of the Companies Revenue (Cr) EBITDA Margin PAT Margin P/E D/E Mcap (cr)
Ganga Bath Fittings Limited (9MFY25) 22.46 25.29% 16.06% 30.1 0.48 109
Hindware Home Innovation Limited (TTM) 2523 6% -1.76% -33.2 1.14 2263
Cera Sanitaryware Limited (TTM) 1915 15% 12.9% 33.4 0.05 8274

Lead Manager of Ganga Bath Fittings Limited IPO:

  1. Jawa Capital Services Private Limited

Registrar of Ganga Bath Fittings Limited IPO:

  1. Kfin Technology Private Limited

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