Mega Flex Plastics Limited IPO
i. Mega Flex Plastics Limited is primarily engaged in manufacturing of Leno Bags which is used for packaging of agricultural produces like potatoes, onions, garlic, coconuts, fruits and vegetables. In addition to Leno Bags, the company is also manufacturing Woven Fabric and Sutli (Fibrillated Twisted Thread). The product which they majorly manufacture i.e., Leno Bags is made from Plastic Granules and is used multiple times for storage of fruits and vegetables. The said product is widely used in Cold Storages and warehouses for storage of various products.
ii. Company’s state-of-the-art plant for manufacturing PP Leno Bags is situated at Sudha Ras Food & Poly Park (Industrial Park), Howrah in the state of West Bengal, India. The plant is strategically located on NH-6, about 120 km from international all-weather port of Haldia and around 30 kms from Kolkata port, which gives it excellent connectivity and transport facilities.
iii. When they started the production, usage of Leno Bags was in its nascent stage and farmers were hardly aware of this highly convenient and economic form of packaging. Vegetables were mainly packed in jute bags. Jute bags was not an efficient mode of packaging due to its high cost, voluminous in size, wastage of packed produce because of high water absorption resulting in huge loss during storage and transportation. With technical and marketing support of some big polymer manufacturers, they reached out to farmers at grass root level in villages of West Bengal and popularized use of Leno Bags. This revolutionized the way vegetables were packed and proved to be a boon for the farmers.
iv. Mega Flex Plastics became an integrated fruits and vegetable packaging solutions provider offering Leno Bags, which are used for packing of fruits & vegetables, Technical Textile Fabric and Sutli (Fibrillated Twisted Thread). They are part of a group whose other business interests include manufacturing of rigid plastic packaging products i.e. Plastic Container for Paints, Lubricants, Greases etc.; paper packaging products i.e. Corrugated Boxes & Mono Boxes; and logistics & warehousing etc.
v. Competitive Strengths:
- Organizational stability along with management expertise.
- Smooth flow of operations.
- Well-defined organizational structure.
- Existing Supplier Relationship.
- Wide range of Products.
Objects of the Mega Flex Plastics Limited IPO:
Mega Flex Plastics Limited IPO Details:
|Open Date:||Sep 06 2022|
|Close Date:||Sep 09 2022|
|Face Value:||₹ 10 Per Equity Share|
|Issue Type:||Fixed Price Issue|
|Issue Size:||11.40 Cr.|
|Lot Size:||3000 Shares|
|Issue Price:||₹ 40 Per Equity Share|
|Listing At:||NSE Emerge|
Promoters And Management:
Financials of Mega Flex Plastics Limited IPO:
|Particulars (in Lakhs)||March 21||March 20||March 19|
|Revenue from operations||4,646.83||2,949.23||3,149.64|
|Cost of Material Consumed||3,185.99||2,143.97||2,352.06|
|Employee Benifit Expense||135.06||126.99||123|
|Profit (Loss) before tax||421||279||365|
|Profit (Loss) for the period||266||129||220|