Manorama Industries Limited IPO
A) Company’s Background and Business
(i) The Manorama Group has a history of over 60 years which started off with extracting oil from Sal seed and Mango kernel and gradually forayed into exotic products and specialty fats. Today, the company is seen as one of the top global players in the food and cosmetic industries and maintains a good relationship of 4 decades with Fortune 500 companies all over the world in cosmetic, chocolate and confectionery industries.
(ii) Manorama Industries Limited is engaged in Manufacturing, Processing, and Supply of exotic and Specialty fats & oils like Sal butter, Sal fat, Sal oil, Sal Stearine, Sal olein, Mango butter, Mango fat, Mango oil, Mango Stearine, Kokum butter, Kokum oil, Mowrah fat, and several value-added tailor-made products. Apart from this company is also engaged in the business of Trading of Rice, Maize, Soya DOC.
(iii) Currently, the Company is among the leading manufacturers of Sal Oils and Stearine globally with an annual production of 3,000-4,000 tonnes. Last year, they produced 908 tonnes of Stearine resulting in approximately 1% global market share. Globally, The Company is amongst the top 10 manufacturers of Stearine.
[Source: CARE Industry Report].
(iv) As early as the 1970s, the Group had made its mark on global Oils and Fats industry with the Netherlands Government publishing special features on the Indian entrepreneur in leading Dutch newspapers publicizing the vast potential of Indian exotic fats.
B) The industry which company cater to
The Company is majorly catering to Chocolate and Cosmetic industry. The product stearine which is made out of sal or mango seeds is one of the key ingredients in the manufacturing of Cocoa Butter Equivalents (CBE), which has a demand in the Chocolate Industry. Further, the product olein is generally demanded in the cosmetic industry. The Company products also serve as a non-palm oil ingredient as there is a movement against usage of palm oil in many western countries
C) Financial of the Company From FY 2013-14 to FY 2017-18
i) Company total Revenue has shown growth from Rs. 10,532.50 lakhs to Rs. 22,189.33 lakhs, representing a CAGR of 20.46%.
ii) Company EBITDA has shown growth from Rs. 462.26 lakhs to Rs. 1,851.48 lakhs, representing a CAGR of 41.43%.
iii) Company Profit After Tax has shown growth from Rs. 89.62 lakhs to a profit of Rs. 1,035.56 lakhs representing a CAGR of 84.29%.
iv) Company RONW has grown from 10.37% to 41.89%.
Objects of the Manorama Industries Limited IPO:
Manorama Industries Limited IPO Details:
|Open Date:||Sep 21 2018|
|Close Date:||Sep 25 2018|
|Face Value:||₹ 10 Per Equity Share|
|Issue Type:||Book Built Issue IPO|
|Issue Size:||64 Cr.|
|Lot Size:||600 Shares|
|Issue Price:||₹ 181-188 Per Equity Share|
|Listing At:||BSE SME|
|Listing Date:||Oct 04 2018|
Promoters And Management:
Financials of Manorama Industries Limited IPO:
|Particulars||For the year/period ended (in Rs Lacs)|
|Profit After Tax||1,035.56||137.52||108.21||94.16||89.62|
Comparison With Peers:
Recommendation on Manorama Industries Limited IPO:
Lead Manager of Manorama Industries Limited IPO:
Registrar of Manorama Industries Limited IPO:
Bid Details of Manorama Industries Limited IPO as on
25 Sep 2018 | 06:00:00 PM
|Category||No.of shares offered||No. of shares bid|