Kenrik Industries Limited IPO

Apply 0
Avoid 0

Kenrik Industries Private Limited was incorporated on February 28, 2017, under the Companies Act, 2013. Since its inception, the Company has been engaged in the manufacturing, wholesaling, and supplying of plain and studded gold jewellery and ornaments, with a primary focus on traditional Indian jewellery.

Product Portfolio

Kenrik Industries offers a wide array of products, including:
i. Rings, Earrings, Pendants, Nose Rings, Armlets, Bracelets, Chains, Necklaces, Bangles, Watches, and other Luxury Items
ii. Wedding Jewellery
iii. Handmade gold jewellery studded with precious and semi-precious stones such as diamonds, rubies, and cubic zirconia.

The Company serves customers across various segments: high-end, mid-market, and value markets, ensuring a broad appeal to diverse clientele.

Sales and Distribution Strategy

i. Kenrik follows a B2B business model, focusing on selling to retailers and wholesalers.
ii. The sales team engages in direct marketing, personal visits to clients, and relies heavily on client referrals, leveraging the Company’s reputation for high-quality products.
iii. Long-standing relationships with key market players ensure a steady flow of repeat business.

Kenrik has developed a website and mobile application to support business expansion, improve client engagement, and streamline the ordering process.

Objects of the Kenrik Industries Limited IPO:

IPO proposes to utilise the Net Proceeds from the Issue towards the following objects: i. To meet Working Capital Requirements; ii. General Corporate Expenses.
DRHP of Kenrik Industries Limited IPO
RHP of Kenrik Industries Limited IPO

Kenrik Industries Limited IPO Details:

Open Date: Apr 29 2025
Close Date: May 06 2025
Total Shares: 34,98,000
Face Value: ₹ 10 Per Equity Share
Issue Size: 8.75 Cr.
Lot Size: 6000 Shares
Issue Price: ₹ 25 Per Equity Share
Listing At: BSE SME
Listing Date: May 09 2025

Promoters And Management:

Nitinkumar Dalpatbhai Shah, aged 56, is the Promoter and Managing Director of the Company and has been on the Board since inception. A Commerce graduate from Gujarat University, he brings over 25 years of experience in the fields of Finance and Jewellery. Nihar Nitinbhai Shah, aged 28, is the Executive Director and Chief Financial Officer of the Company and has been on the Board since inception. He holds a Master’s Degree in Engineering Management from Stevens Institute of Technology, New Jersey, and has over 5 years of experience in manufacturing and finance. Sweta Rasikbhai Panchal, aged about 30 years, is an Independent Director of the company. She holds a Bachelor’s Degree in Accounting and finance from Mumbai University, India.

Financials of Kenrik Industries Limited IPO:

In Cr.
Particulars October 31, 2024 March 31, 2024 March 31, 2023 March 31, 2022
Revenue from Operations 42.18 Cr. 70.77 Cr. 51.88 Cr. 32.58 Cr.
EBITDA 1.05 1.46 0.66 0.54
EBITDA Margins 2.50% 2.06% 1.29% 1.67%
PAT 0.78 1.08 0.47 0.38
PAT Margins 1.85% 1.53% 0.91% 1.17%
D/E Ratio 0.07 0.06 0.05 0.03
CFOA -3.29 2.39 0.28 -5.01

Comparison With Peers:

Name of the Companies Revenue (Cr) EBITDA Margin PAT P/E D/E Mcap (cr)
Kenrik Industries Limited 71 2.06% 1.08 28.7 0.06 31.2
Veerkrupa Jewellers limited 14 2.37% 0.24 56 0.37 13.9
Motisons Jewellers Limited 460 15% 43 40.4 0.26 1712
Khazanchi Jewellers Limited 821 5% 27 51.8 0.25 1413

Recommendation on Kenrik Industries Limited IPO:

Review and Recommendation of Kenrik Industries IPO by team IZ is 2/10.

Lead Manager of Kenrik Industries Limited IPO:

  1. Turnaround Corporate Advisors Private Limited

Registrar of Kenrik Industries Limited IPO:

  1. Skyline Financial Services Private Ltd

Company Address:

Kenrik Industries Limited B-306, East Face, Behind Maruti Suzuki Showroom, Nr. S P Ring Road, Ambli Road, Ambli, Daskroi Phone: +91-9687141430 Email: cs@kenrikindustries.net Website: http://www.kenrikindustries.net/

Discussion on Kenrik Industries Limited IPO:

Leave a Reply