Pattech Fitwell Tube Components Limited IPO

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i. Pattech Fitwell Tube is a manufacturer of forging products for the non-automotive sector. They have total installed capacity of 14104.13 MTPA for manufacturing of forged flanges, complex and specialized machined components, welded assemblies in the area of open die forgings. The Company converts semifinished / raw products to finished products by carrying its value-added processes such as forming, bending, drilling, cutting, inspection, polishing, painting, blasting, welding, punching, marking, testing and packaging.

ii. The company manufacture these products from carbon steel, alloy steel and stainless-steel pipes, coils, plates, structures and forgings conforming to international standards.

iii. Pattech Fitwell has been in the business of manufacturing of a wide range of forged and machined components that is used in pipes and tube fittings like Elbows, Flanges, Tees, Reducers, Caps, pipe spools and other fabrication works being used in various industries like fertilizers, petrochemical, power, chemical & pharmaceutical, food processing, oil & gas, desalination & water treatment, ship building, defense, fabrication of process equipments, instrumentation etc.

iv. Their existing manufacturing plant consists of forming shop, fabrication shop, forging shop, die shop, heat treatment shop, conventional machining shop backed by related quality assurance equipments. Presently, we are using electric and oil fire heat furnace technology for forging products. The key factor in the forging business is the client/consultant approval, given the critical end-use of the product.

Competitive Strengths 

i. Diversified customer base and long-standing relationship with the customers
ii. Diversified Product portfolio
iii. Experienced Promoter Directors with extensive domain knowledge
iv. Well Established Manufacturing Facility designed to serve multiple products range

Objects of the Pattech Fitwell Tube Components Limited IPO:

The Company proposes to utilize the Net Proceeds from the Issue towards the following objects: i. Funding the working capital requirements; ii. General corporate purposes
DRHP of Pattech Fitwell Tube Components Limited IPO
RHP of Pattech Fitwell Tube Components Limited IPO

Pattech Fitwell Tube Components Limited IPO Details:

Open Date: Apr 05 2023
Close Date: Apr 12 2023
Total Shares: 2,400,000
Face Value: ₹ 10 Per Equity Share
Issue Type: Fixed Price Issue IPO
Issue Size: 12 Cr.
Lot Size: 3000 Shares
Issue Price: ₹ 50 Per Equity Share
Listing At: NSE Emerge
Listing Date: Apr 21 2023

Promoters And Management:

i. BHARATBHAI JIVRAJBHAI LIMBANI is the Chairman and Managing Director of the board of the Company. He is one of the promoters of the Company. He has been associated with the Company since its incorporation. He holds a bachelor of arts degree from Gujarat University. He has over 20 years of experience in the field of manufacturing pipe and tube fittings. ii. JAYSUKHBHAI POPATBHAI LIMBANI is a Whole-Time Director of the Company. He is one of the promoters of the Company. He has been associated with the Company since its incorporation. He holds a degree in mechanical engineering from institution of mechanical engineers. He has over 7 years of experience in the field of manufacturing pipe and tube fittings. iii. RIPALBEN BHARATBHAI LIMBANI is the Non -Executive Director of the Company. She has been associated with the Company since September 22, 2022. She is an under graduate. She has over 5 years of experience in the field of manufacturing pipe and tube fittings.

Financials of Pattech Fitwell Tube Components Limited IPO:

Particulars (in Lakhs) 2022 2021 2020
Revenue From Operations 2,225 1,834 2,034
COGS 2,051 1,730 1,907
Change in Inventories -136 -51 0
Employees Benefit Expenses 40 29 21
Other Expenses 30 34 28
EBITDA 240 92 78
OPM 10.79% 5.02% 3.83%
Other Income 38 11 5
Depreciation 33 40 28
Finance Cost 52 66 42
PBT 193 -3 13
Tax 49 -2 6
PAT 144 -1 7
NPM 6.36% -0.05% 0.34%
Shares 77.57 77.57 77.57
EPS 1.86 -0.01 0.09

Comparison With Peers:

There is no Listed company engaged in the similar business.

Lead Manager of Pattech Fitwell Tube Components Limited IPO:

  1. Fedex Securities Limited

Registrar of Pattech Fitwell Tube Components Limited IPO:

  1. Bigshare Services Private Limited

Company Address:

Pattech Fitwell Tube Components Limited Survey No.873/B/1, RD No: 1, Ansons Limbani Estate Nr. GETCO 66K.V. Sub Station, G.I.D.C, Por, N.H-08 Vadodara – 391243 Phone: (0265) 2830151 Email: cs@pftcpipefittings.com Website: https://www.pftcpipefittings.com/

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