Mahip Industries Limited IPO

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Mahip Industries Ltd. is a leading manufacturer and trader of corrugated boxes.

They offer a wide range of packaging services which are the core strength of the company. Owing to the extensive experience and sustained efforts, they have acquired unique product development skills for customized packaging applications. Besides this, they also offer printing and designing of corrugated boxes. The most significant feature of these packaging products is that they are environment-friendly and gets easily decomposed without damaging or creating pollution in the environment

Products:

– Corrugated Boxes
– Corrugated Boxes with Partition
– Corrugated Boxes With Lid
– Printed Corrugated Boxes
– Customized Corrugated Boxes
– Laminated Corrugated Boxes
– Bituminized corrugated boxes

They have an existence in Gujarat and the company is looking to reach national and international clients to serve top brands in the best possible way.  Currently, they have their manufacturing unit at Dholka, Ahmedabad which is spread across a vast area of 25000 sq.meter which is taken on lease for the period of 30 years commencing from June 10, 2011 to June 9, 2041. The company has more than 2 decades of experience in the packaging industry, they are among the leading players in the industry offering the best products that are known to be of topmost quality. The company is certified by ISO 9001 and ISO 22000 (Quality Management System) Certifications from JAZ ANZ.(+).

Industries they Cater

(i) FMCG Industry
(ii) Garment Industry
(iii) Food Industry
(iv) Automotive Industry
(v) Electronic Industry
(vi) Pharma Industry

Mahip Industries Limited IPO Stock Quote & Charts

30.35

+0.33%

  • Open: 30.80
  • High - Low: 30.80 - 30.35
  • Previous Close: 30.25
  • Total Traded Volume: 8000
  • Updated On: 07-May-2019

Objects of the Mahip Industries Limited IPO:

The Objective of the IPO is to raise 16.62 Cr by issuing 51,96,000 no. of shares at Rs. 32 a piece for the following requirement. 1.  Working Capital Requirements= 12.87 Cr 2. Funding expenditure for General Corporate Purposes and Issue Expense= 3.75 Cr

Mahip Industries Limited IPO Details:

Open Date: Feb 26 2019
Close Date: Mar 01 2019
Total Shares: 5196000
Face Value: ₹ 10 Per Equity Share
Issue Type: Fixed Price
Issue Size: 16.62 Cr.
Lot Size: 4000 Shares
Issue Price: ₹ 32 Per Equity Share
Listing At: BSE SME
Listing Date: Mar 11 2019

Promoters And Management:

1. Mr. Rajiv Govindram Agrawal, aged 47 years, is the Promoter, Chairman & Managing Director of the company. He is the founder of the corrugated box manufacturing in the year of 1995. He is a guiding force behind building a major and recognized industrial house. He has more than a decade of experience in this field and has Management Leadership & Entrepreneur skill, technical know-how about the product, extremely good in Marketing skills including that of explaining the USP of the product. 2Mr. Radhesham Oza aged 44 years, serving the Board as the Non-Executive Director of our company. He has an Experience of 14 Years in the manufacturing of Corrugated Boxes. He is in employment with the Company since 2004 and holding the Directorship since 2010. He oversees Production Plant operations and sales and marketing division.

Financials of Mahip Industries Limited IPO:

Year Revenue(Lakh) Expense(Lakh) PAT(Lakh) EPS
2014 9,286.43 9,136.87 103.31 1.08
2015 9,308.99 9,170.97 93.94 0.96
2016 10,440.36 10,271.83 111.51 0.84
2017 10,783.47 10,600.76 122.02 0.92
2018 14,078.15 13,459.16 428.95 3.15
8MFY19 6,471.74 6,119.86 253.99 1.81

Comparison With Peers:

Company Revenue(Cr) PAT(Cr) Equity EPS Debt(Cr) Adj. P/E P/E
Mahip Industries 140 4.28 1,92,39,984 2.22 36 22.5 14.41
Worth Peripheral 148 6.74 1,57,50,000 4.279 10 15.59 15.89
1. The Financials of FY17-18 is taken for reference. 2. Worth Peripheral is having a Current Ratio of 2.67 as compared to 1.51 for Mahip Industries. So Worth Peripheral is fundamentally stronger than Mahip Industries. 3. The Adjusted P/E of Worth is 15.59 and Mahip is 22.5. 4. The Worth Peripheral in the first 6M of FY19 has given excellent Results with an EPS of 4.15 and Mahip Industries has given an EPS of 1.31( Post Dilution) for the first 5 Months of FY19. Conclusion by IZ Team: The Worth Peripheral is available at a cheap valuation as compared to Mahip Industries and strong fundamentally in terms of Debt and Current Ratio.

Recommendation on Mahip Industries Limited IPO:

Review and Recommendation of Mahip Industries Limited IPO from IZ team are- 3/10.  

Lead Manager of Mahip Industries Limited IPO:

  1. Finshore Management Services Limited

Registrar of Mahip Industries Limited IPO:

  1. Bigshare Services Private Limited

Company Address:

A-902, Safal Solitaire, Nr. Divya Bhaskar, Makarba, S.G Road, Ahmedabad – 380 051 Tel No.:+91 – 79 – 40048788,+ 91-9099987973 E-Mail:cs@mahipindustriesltd.in

Discussion on Mahip Industries Limited IPO:

    In the segment of Corrugated Boxes, at Present Worth Peripheral is looking at a good valuation.