Indobell Insulation Limited IPO

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The company is manufacturer and contractor of insulation products designed for various applications across homes, commercial buildings, and industrial plants. Its expertise lies in providing high-quality insulation solutions, particularly for the power industry, which includes services like:
i. Full range of insulation and lining solutions                             ii. Scaffolding
iii. Surface protection                                                                         iv. Refractory services
v. Passive fire protection                                                                    vi. Borosilicate lining for chimneys

Product Portfolio

The company manufactures an extensive range of insulation materials, summarized as follows:
i. Nodulated/Granulated Wool:- Ceramic Fibre Nodules and Mineral Fibre Nodules
ii. Pre-Fabricated Thermal Insulation Jackets: – Tailor-made solutions for insulating pipes, valves, and other components to maintain temperature efficiency and safety.

Key Applications

The company’s products are engineered to cater to a variety of industries and applications, including:
i. Homes and commercial buildings (thermal and acoustic insulation).
ii. Industrial plants requiring advanced thermal insulation solutions.
iii. The power industry, with a focus on energy efficiency, fire safety, and durability.

Vision

The company aims to leverage its decades of experience and technical expertise to provide innovative insulation solutions that meet global standards, ensuring energy efficiency, safety, and sustainability for its clients. By maintaining a customer-centric approach, Indobell Insulations Limited strives to strengthen its leadership in the insulation industry.

Objects of the Indobell Insulation Limited IPO:

The Objects of the Issue are: i. Funding Capital Expenditure towards the purchase of additional plant and machinery ii. To meet the Working Capital Requirements iii. General Corporate Purposes.
DRHP of Indobell Insulation Limited IPO
RHP of Indobell Insulation Limited IPO

Indobell Insulation Limited IPO Details:

Open Date: Jan 06 2025
Close Date: Jan 08 2025
Total Shares: 22,05,000
Face Value: ₹ 10 Per Equity Share
Issue Size: 10.14 Cr.
Lot Size: 3000 Shares
Issue Price: ₹ 46 Per Equity Share
Listing At: BSE SME
Listing Date: Jan 13 2025

Promoters And Management:

Vijay Burman, 77, is the Promoter, Chairman, and Managing Director of the Company. Appointed as a First Director on May 12, 1972, he was reappointed as Chairman & Managing Director on October 30, 2023, for a five-year term. A Bachelor of Science in Engineering graduate from Ranchi University (1971), he has over 52 years of experience with Indobell Insulations Limited. He oversees day-to-day operations and overall management, playing a key role in achieving significant milestones and fostering innovation, accountability, and excellence within the organization. Man Mohan Burman, 80, is the Executive Director of the Company, associated since May 20, 1988. A BA graduate from the National Defense Academy, Khadakvasla (1962), he has over 35 years of experience with Indobell Insulation Limited. He manages administrative matters, oversees production activities, and coordinates with site supervisors for project implementation nationwide. His leadership fosters collaboration and growth within the team. Megha Burman, 40, is the Executive Director of the Company, associated since August 1, 2012. She holds a Bachelor's degree in Mass Media from Mumbai University (1983) and has over a decade of experience in business promotion. Megha oversees daily operations across multiple locations, enhances productivity, and collaborates with leadership to guide operational strategy. She ensures smooth workflows, monitors administrative processes, and provides corrective feedback to achieve both short- and long-term goals.

Financials of Indobell Insulation Limited IPO:

In Cr.
Particulars Sep 30, 2024 March 31, 2024 March 31, 2023 March 31, 2022
Revenue from Operations 5.54 17.88 20.76 9.61
EBITDA 0.84 2.01 1.73 0.65
EBITDA Margins 15.17% 11.30% 8.36% 6.78%
PAT 0.42 1.03 0.90 0.15
PAT Margins 7.62% 5.74% 4.28% 1.57%
RONW 18.21% 19.04% 3.94%
CFOA 2.11 0.30 3.12 -2.81

Comparison With Peers:

Companies Revenue EBITDA Margins PAT Margins D/E Ratio MCap P/E
Indobell Insulations (FY 2024) 17.88 Cr. 11.30% 5.74% 0.56 28.97 Cr. 28.13
Beardsell Limited (TTM) 240 Cr. 8% 3.33 0.38 152 Cr. 18.10

Recommendation on Indobell Insulation Limited IPO:

Review and Recommendation of Indobell Insulation IPO by team IZ is 3/10.

Lead Manager of Indobell Insulation Limited IPO:

  1. Finshore Management Services Limited

Registrar of Indobell Insulation Limited IPO:

  1. Integrated Registry Management Services Private Limited

Company Address:

Indobell Insulation Limited 88C Lake View Road, Kolkata - 700029 Phone: +91 99032 51056 Email: cs@indobell.com Website: https://www.indobell.com/

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