Innokaiz India Limited IPO

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i. Innokaiz India is a corporate services and solutions provider Company. They have emerged as a one stop solution provider for various corporate needs. They offer a comprehensive range of services covering Advertising and Marketing Solutions including Digital Marketing, Corporate Travel Arrangements, Gifting Solutions, Event Management etc. Recently, they have also ventured into new business vertical i.e., E-Commerce Business.

ii. The Company was incorporated in the name of Innokaiz India Private Limited on January 11, 2013 and since inception it has successfully scaled up its capabilities and evolved as one stop solution for various corporate needs. Its exhaustive client list is the proof of company’s excellence in reliability of service and quality of products.

iii. They work closely with their clients to develop tailored services and solutions and provide consistent, reliable and client focused services and solutions. Their unique one stop service model is divided into following categories:

i. Advertising & Marketing Services – Outdoor Advertisements

ii. Digital Marketing Services
– Content Marketing
– Web Development

iii. Event Management: They are into the business of organising and managing all the requirements for Corporate Events including Meetings, Incentive Programs and Conferences, Exhibitions (MICE).

iv. Corporate Gifting: They have an expertise in providing gifting solutions suitable for all kind of corporate needs. Innokaiz is a one stop solution for entire gifting solutions of corporates with impressive and unique and collection and innovative ideas.

Competitive Strengths

i. Experience and Track Record
ii. Experienced Promoter and Management team
iii. Established relationship with existing customers

Objects of the Innokaiz India Limited IPO:

The company intends to utilize the net proceeds from the issue towards the funding of the following objects: i. Working capital requirements, and ii. General corporate purposes.

Innokaiz India Limited IPO Details:

Open Date: Apr 28 2023
Close Date: May 03 2023
Total Shares: 2,713,600
Face Value: ₹ 10 Per Equity Share
Issue Type: Book Built Issue IPO
Issue Size: 21.17 Cr.
Lot Size: 1600 Shares
Issue Price: ₹ 76-78 Per Equity Share
Listing At: BSE SME
Listing Date: May 11 2023

Promoters And Management:

i. Mr. Balakrishnan Sukumarbalakrishnan, aged 45 years, is the Founder, Promoter and Managing Director of the Company. He is the Director of the Company since Incorporation of the Company. He was later reappointed as Managing Director with effect from June 29, 2022. He has a Diploma in Mechanical Engineering from State Board of Technical Education & Training, Tamil Nadu completed in the year 1995. He has more than 9 years of experience. He is a visionary entrepreneur and has played a pivotal role in setting up business of the Company. He primarily looks after the overall business operations of the Company. He is the driving force behind the working of the company and has been the mentor to all the employees. His vast industry knowledge and experience has helped company to grow many folds. As a leader, he always delivers value to the customers and endeavour in fulfilling / exceeding their expectations and is involved in day-to-day execution of projects. In a Company he is responsible for providing strategic advice and guidance to the members of the board, to keep them aware of developments within the industry and ensure that the appropriate policies are developed to meet the company’s mission and objectives and to comply with all relevant statutory and other regulations. ii. Mr. Selvaraj Durairaj, aged 37 years, is the Executive Director of the Company. He was appointed as Additional Director of the Company with effect from July 14, 2018, later was regularised to Executive Director w.e.f. September 30, 2018. He has been associated with company since its incorporation. He has more than 9 years of experience. He has been responsible for the sales and marketing. His expertise has led the company grow since its incorporation. Currently, he is Director of the Company and operations head and over sees the execution of each service of the company iii. Mr. Kesavapathy, aged 60 is the Non-Executive Director of the Company. He was appointed as Non-Executive Director with effect from June 29, 2022. His role in the company includes overseeing whether company’s programmes are being executed in right direction as per its aim and objectives, recommending business policies to the board governing the company, establishing long-term business plans for supporting the vision and values of the company.

Financials of Innokaiz India Limited IPO:

A. Balance Sheet ( Figures in Lakhs)
Years Mar-20 Mar-21 Mar-22
Equity Share Capital ₹1 ₹1 ₹1
Reserves ₹541 ₹1,050 ₹1,842
Borrowings ₹111 ₹104 ₹132
Trade Payables ₹813 ₹1,476 ₹1,808
Other Liability ₹1,103 ₹1,240 ₹1,189
Total Liability ₹2,568 ₹3,871 ₹4,972
Fixed Assets Block ₹17 ₹43 ₹54
CWIP ₹0 ₹0 ₹0
Investments ₹0 ₹276 ₹365
Other Assets ₹0 ₹0 ₹0
Total Non-Current Assets ₹17 ₹319 ₹419
Receivables ₹674 ₹1,770 ₹2,151
Inventory ₹0 ₹0 ₹0
Cash and Cash Balance ₹894 ₹656 ₹809
Other Assets ₹981 ₹1,123 ₹1,586
Total Current Assets ₹2,549 ₹3,549 ₹4,546
Total Assets ₹2,568 ₹3,871 ₹4,972
B. Profit & Loss Statement
Years Mar-20 Mar-21 Mar-22
Sales ₹13,870 ₹18,495 ₹28,593
Sales Growth 0.00% 33.35% 54.60%
COGS ₹13,055 ₹17,557 ₹27,224
COGS % of Sales 94.12% 94.93% 95.21%
Gross Profit ₹815 ₹938 ₹1,369
Gross Margins 5.88% 5.07% 4.79%
Employee Benefit & Other Expenses ₹314 ₹228 ₹269
Employee Benefit and Other Sales % 2.26% 1.23% 0.94%
EBITDA ₹501 ₹711 ₹1,100
EBITDA Margins 3.61% 3.84% 3.85%
Interest Cost ₹0.09 ₹15.07 ₹16.17
Interest %of Sales 0.00% 0.08% 0.06%
Depreciation ₹8 ₹7 ₹18
Dep %of Sales 0.05% 0.04% 0.06%
EBIT Margins 3.56% 3.80% 3.78%
Other Income 2.7 0.00 16.39
Earnings Before Tax ₹496 ₹688 ₹1,082
EBT % Sales 3.58% 3.72% 3.78%
Tax ₹127.48 ₹180.83 ₹274.62
Effective Tax Rate 25.68% 26.27% 25.39%
PAT ₹369 ₹508 ₹807
NPM 2.66% 2.74% 2.82%
No. of Equity Shares 102.236 102.236 102.236
Earning Per Share ₹3.60 ₹4.96 ₹7.89
EPS Growth % 0.00% 37.91% 58.98%
Dividend Per Share ₹0.00 ₹0.00 ₹0.00
Dividend Payout Ratio 0.00% 0.00% 0.00%
Retained Earnings 100.00% 100.00% 100.00%
C. Cash Flow Statement
Net Cash Flow from Operations ₹678.83 ₹93.19 ₹258.97
Net Cash Flow from Investing ₹-0.2 ₹-309.11 ₹-118.61
Net Cash Flow from Financing ₹110.51 ₹-22.15 ₹12.48

Comparison With Peers:

Name of the Company Revenue(Cr) Profit(Cr) EPS P/E CMP MCap
Innokaiz India Limited 286 7.91 7.74 10.07 78 79.74
DAPS Advertising Limited 18.53 1.09 3.14 13.3 28 14.5
BRANDBUCKET MEDIA & TECHNOLOGY LIMITED 17.27 0.23 0.73 38.2 19.5 8.78
All the Data is as per FY22.

Recommendation on Innokaiz India Limited IPO:

Review and Recommendation of Innokaiz India Limited by IZ team is 5/10 1. Started in January 2013, Innokaiz India Private Limited provides corporate services and solutions, including advertising and marketing solutions, corporate travel arrangements, gifting solutions, event management, and e-commerce business. 2. They offer Digital Marketing, Corporate Travel, Gifting, Event Management, and Advertising & Marketing Solutions. Recently, they have also ventured into new business vertical i.e., E-Commerce Business. 3. They offer a comprehensive range of services to various corporate needs and aim to provide the highest level of services on every assignment and to provide best-in-class and cost-effective services and solutions to their clients. Their revenue model is based on providing services to their clients and they have a unique one-stop service model divided into different categories. 4. They compete with national competitors in the same business. They may face more competition from those with better capitalization. Their strength is their experience and track record of completing multiple significant projects for Coal Trading in the last two years and earning client trust. 5. The Revenue has Increased from Rs.138 Crore in FY20 to Rs.286 Crore in FY22. 6. The EBITDA has increased from 5 Crore in FY20 to 11 Crore in FY22. 7. The PAT has Increased from 3 Crore in FY20 to 7 Crore in FY22. 8. As per FY22, CFO/EBITDA is 0.23 and Debtors Days is 28. 9. As per FY22, EPS is 7.74,  Market Capitalization is 79 Crore & P/E is 10.07x

Lead Manager of Innokaiz India Limited IPO:

  1. Gretex Corporate Services Private Limited

Registrar of Innokaiz India Limited IPO:

  1. Bigshare Services Private Limited

Company Address:

Innokaiz India Limited Door No. 43, Old No. 22, Real Enclave, Flat No. 1, 4th Floor, Josier Street, Nungambakkam, Chennai- 600034 Phone: 044-28250545 Email: Website

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