Mish Designs Limited IPO
1. Product Offering: MISH offers a range of women’s fashion products, including Dresses, Gowns, Tops, Co-Ords, T-shirts, Trousers, and Palazzos. Their product line is designed to cater to the diverse tastes of their customers, providing a wide selection of trending designs.
2. Branding: The brand “MISH” represents contemporary and affordable fashion wear for women. Their business mantra, “DRESSES THAT MAKE YOU STAND OUT,” reflects their vision and commitment to providing unique and stylish clothing.
3. Global Digital Presence: MISH has a strong digital presence and has successfully sold over 2.5 lakh (250,000) products through various E-Commerce platforms. They have established relationships with prominent E-Commerce players such as Myntra, Nykaa Fashion, Ajio, Tata Cliq, and Namshi. This allows them to reach a global customer base.
4. Product Fabrication: MISH is involved in the process of fabricating fabric into garments under the brand name “MISH” and “CURVES BY MISH” in India. They also export their products to the UAE under the brand name “ZOEY.”
5. In-House Design Team: The company’s expertise lies in understanding the specific requirements of their customers. They have an in-house design team at their manufacturing unit and a team of over 54 employees. This team is responsible for designing, procuring fabrics, selecting color combinations, manufacturing garments, and making samples live to stay in tune with customer preferences and trends.
6. Quality Control: MISH places a strong emphasis on quality control. They have a dedicated team that supervises the entire manufacturing process, from the selection of interlinings to the dispatch of goods to ensure product quality and customer satisfaction.
7. Asset-Light Model: The company is asset-light in terms of plant, property, and equipment. This approach allows them to achieve a high return on capital employed and optimize various costs, including rental, administration, maintenance, and employee costs. They do not operate retail stores or showrooms, relying on E-Commerce platforms for sales.
8. Ownership and History: The brand “MISH” is the result of the passion and vision of its founders, Mr. Kaushal Goenka and Mr. Sajan Bhartia. They incorporated the company as “MISH Designs Private Limited” in 2017, and it was subsequently converted into a public company, “MISH Designs Limited,” in 2023.
9. Sales Channels: The company focuses on generating sales through E-commerce platforms of major players such as Myntra and their own website, “mishindia.com.” This multichannel approach allows them to reach a wide customer base.
10. Revenue Generation: As of March 31, 2023, MISH generates revenue from both online platforms and offline modes. The specific breakdown of revenue sources may vary but would typically include sales from E-Commerce platforms, their website, and potentially other retail channels.
Objects of the Mish Designs Limited IPO:
Mish Designs Limited IPO Details:
Open Date: | Oct 31 2023 |
Close Date: | Nov 02 2023 |
Total Shares: | 800,000 |
Face Value: | ₹ 10 Per Equity Share |
Issue Type: | Fixed Price Issue IPO |
Issue Size: | 9.76 Cr. |
Lot Size: | 1000 Shares |
Issue Price: | ₹ 122 Per Equity Share |
Listing At: | BSE SME |
Listing Date: | Nov 10 2023 |
Promoters And Management:
Financials of Mish Designs Limited IPO:
Particulars ( In Lakhs ) |
2021 |
2022 |
2023 |
3M-FY24 |
Revenue from Operations | 419 | 730 | 1,110 | 226 |
Other Income | 0.3 | 1 | 2 | 1 |
Total Revenue | 419 | 731 | 1,112 | 227 |
Cost of Material Consumed | 219 | 457 | 619 | 116 |
Change in Inventories | -14 | -88 | -131 | -11 |
Employee benefits expenses | 61 | 89 | 61 | 14 |
Other Expenses | 139 | 238 | 436 | 82 |
EBITDA | 14 | 35 | 126 | 26 |
Depreciation & Amortisation | 7 | 10 | 11 | 2 |
Finance Cost | 4 | 17 | 36 | 9 |
EBIT | 6 | 26 | 115 | 25 |
OPM (%) | 3.28% | 4.84% | 11.37% | 11.60% |
PBT | 2 | 9 | 79 | 15 |
Tax | 2 | 3 | 18 | 4 |
PAT | 0.3 | 5 | 61 | 11 |
NPM (%) | 0.07% | 0.73% | 5.46% | 4.99% |
No.of Shares | 28 | 28 | 28 | 28 |
EPS | 0.01 | 0.19 | 2.16 | 0.40 |
Comparison With Peers:
Name of the Company | Revenue (In Crore) | PAT (In Crore) | EPS ( in Rs) | P/E | CMP | Mcap (In Crore) |
Mish Designs Limited | 11 | 0.61 | 2.16 | 56.2 | 122 | 34 |
Aditya Birla Fashion and Retail Limited | 12,418 | -59 | -0.38 | N/A | 214 | 20,285 |
Go Fashion (India) Limited | 665 | 83 | 15.33 | 79.7 | 1,249 | 6,745 |
Kewal Kiran Clothing Limited | 779 | 119 | 19.36 | 32.6 | 754 | 4,646 |
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