Harshdeep Hortico Limited IPO

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This company, recently incorporated in December 2022, is engaged in the design, development, manufacturing, and supply of a wide range of pots and planters. This includes products such as plastic indoor and outdoor planters, illuminated planters, decorative planters, roto moulded planters, fiber reinforced plastic (FRP) planters, and an eco series of planters. In addition to these, this company offers related accessories like garden hose pipes and water cans. More recently, the company has expanded into the field of roto moulded outdoor furniture.

This company holds ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018 certifications, ensuring quality management, environmental management, and occupational health and safety standards. The product portfolio is extensive, offering more than 500 different variants of pots, planters, and accessories in various sizes and colors. The different product series contribute varied percentages to the total revenue, with the Roto Moulded Series, Grower Series, and Indoor Series being significant contributors.

The manufacturing infrastructure includes two units in Bhiwandi and Pune, Maharashtra, and three stores in Delhi, Pune, and Rajahmundry, Andhra Pradesh. Distribution is further supported by exclusive distributors in Hyderabad, Kolkata, Chandigarh, and Visakhapatnam. An omni-channel approach is utilized for customer engagement and sales, encompassing an online presence on the company website, marketplaces like Amazon and Flipkart, and social media platforms.

Most of the company’s revenue comes from 27 states and Union Territories in India, particularly Maharashtra. There’s also a history of exporting products to various countries, contributing a modest yet significant portion of the revenue.

The company’s manufacturing capabilities have evolved since purchasing its first Rotational Moulding Machine in 2008. The current setup includes four Rotational Molding Machines, 20 Injection Molding Machines, and one Blow Extrusion Machine, supplemented by various handling equipment.

Management of the company is under Hitesh Chunilal Shah, with over 20 years of experience in the industry, and Harshit Hitesh Shah, focusing on the legal and financial aspects of the business. This leadership and the company’s comprehensive product range, manufacturing capabilities, and market reach reflect a robust and dynamic business model in the pots and planters industry.

Objects of the Harshdeep Hortico Limited IPO:

The company intends to utilize the proceeds of the Issue to meet the following objects: i. Repayment and/or pre-payment, in full or part, of certain borrowings availed by the company ii. To meet Working Capital requirements iii. General Corporate Purpose

Harshdeep Hortico Limited IPO Details:

Open Date: Jan 29 2024
Close Date: Jan 31 2024
Total Shares: 4,242,000
Face Value: ₹ 10 Per Equity Share
Issue Type: Book Building
Issue Size: 19.09 Cr.
Lot Size: 3000 Shares
Issue Price: ₹ 42 - 45 Per Equity Share
Listing At: BSE SME
Listing Date: Feb 05 2024

Promoters And Management:

Hitesh Chunilal Shah is the Promoter and Chairman & Managing Director of the Company. He has been on the Board since incorporation. He is a visionary entrepreneur and has played a pivotal role in expanding business operations of the Company. He has a work experience of over 20 years in the industry and has completed his Higher Senior Secondary Education (Class 12th) from Maharashtra state board of Secondary & High Secondary Education, Pune in year 1992. He currently looks after the overall management of the Company. Under his guidance, the Company has witnessed continuous growth. Harshit Hitesh Shah is the Whole-time Director & Chief Financial Officer of the Company. He has been on the Board since incorporation. He has completed his Master of Business Administration in 2021 from SVKM’s Narsee Monjee Institute of Management Studies. He has an experience of around 2 years in the industry. He is currently looking after the finance and accounting and legal and secretarial function of the Company. Dipti Hitesh Shah is the Non-Executive Director of the Company. She has an experience of around 1 year in the administration field. She has completed her Senior Secondary Certificate (Class 10th) from Maharashtra state board of Secondary & High Secondary Education, Pune in year 1993.

Financials of Harshdeep Hortico Limited IPO:

Particulars ( In Lakhs )
Revenue from Operations 0 1,481
Other Income 0 2
Total Revenue 0 1,483
Cost of Goods Sold 0 1,421
Changes in inventories 0 -657
Employees Benefit Expenses 0 107
Other Expenses 0.3 324
EBITDA -0.3 288
Depreciation & Amortisation 0 47
Finance cost 0 4
EBIT -0.3 241
OPM (%) 0.00% 19.41%
PBT -0.3 237
Tax 0 60
PAT -0.3 177
NPM (%) 0.00% 11.95%
No.of Shares 160.94 160.94
EPS -0.002 1.10

Comparison With Peers:

Note: - There are no listed companies in India that is into the similar line of business of the Company.

Lead Manager of Harshdeep Hortico Limited IPO:

  1. Hem Securities Limited

Registrar of Harshdeep Hortico Limited IPO:

  1. Link Intime India Private Limited

Company Address:

Harshdeep Hortico Limited Building No.1 Shree Sai Logistics, Survey No.18/2E 18/2P 17/2A, 17/2B Part, Elkunde, Bhiwandi, Thane - 421302 Phone: +91-94245-04224 Email: cs@harshdeepindia.com Websitehttps://harshdeepindia.com/

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