Polysil Irrigation Systems Limited IPO
Polysil stands at the forefront of agricultural innovation, specializing in the manufacture and sale of advanced drip and sprinkler irrigation systems. The comprehensive product range, branded under “Polysil,” includes HDPE Pipes, pipe fittings, and a wide array of irrigation equipment such as disc filters, screen filters, hydro-cyclone filters, sand filters, compression fittings, valves, fertilizer tanks, digital controllers, and pressure gauges. This extensive portfolio caters to the diverse needs of modern agriculture, ensuring efficiency and sustainability in water usage.
Distribution Network and Market Presence
The products reach the market through two primary channels: institutional markets and open market sales. The latter sees their products distributed via a network of 8 distributors and approximately 425 dealers across India, facilitating the presence in key agricultural states including Gujarat, Tamil Nadu, Maharashtra, Andhra Pradesh, Karnataka, Madhya Pradesh, Uttar Pradesh, Rajasthan, and Haryana. This strategic distribution ensures that cutting-edge irrigation solutions are accessible to their end customers, predominantly farmers, who benefit from government subsidies to make these essential tools more affordable.
Product Innovation and Sustainability
Polysil’s product line is designed to cater to a broad spectrum of agricultural needs, from drip irrigation systems ideal for row crops to sprinkler systems suited for larger fields. Their commitment to sustainability is evident in their use of high-quality raw materials like HDPE, LLDPE, and LDPE granules, sourced both domestically and internationally, to minimize environmental impact while maximizing product longevity and performance.
Subsidy-Driven Business Model
A key aspect of their business model is the integration of government subsidies, which make their products more accessible to farmers. This model requires a robust working capital to manage the subsidy disbursement process, which is a collaborative effort between Polysil, their distributors, dealers, and the government agencies involved. Their ability to navigate this complex system and ensure timely subsidy disbursement highlights their strong operational capabilities and deep understanding of the agricultural sector.
Conclusion
Polysil is not just an irrigation system manufacturer; they are a partner in the agricultural success of India. Through their innovative products, extensive distribution network, and commitment to quality and sustainability, they are helping to revolutionize farming practices, enhance crop yields, and promote water conservation across the country. As they continue to grow and expand their reach, Polysil remains dedicated to empowering farmers with the tools they need to thrive in an ever-changing agricultural landscape.
Objects of the Polysil Irrigation Systems Limited IPO:
Polysil Irrigation Systems Limited IPO Details:
Open Date: | Feb 08 2024 |
Close Date: | Feb 13 2024 |
Total Shares: | 3,229,000 |
Face Value: | ₹ 10 Per Equity Share |
Issue Size: | 17.44 Cr. |
Lot Size: | 2000 Shares |
Issue Price: | ₹ 54 Per Equity Share |
Listing At: | NSE Emerge |
Listing Date: | Feb 16 2024 |
Promoters And Management:
Financials of Polysil Irrigation Systems Limited IPO:
Particulars ( In Lakhs ) |
2021 |
2022 |
2023 |
Till 15 Aug, 2023 |
Revenue from Operations | 5,459 | 3,762 | 4,388 | 1,019 |
Other Income | 13 | 5 | 5 | 1 |
Total Revenue | 5,472 | 3,767 | 4,392 | 1,020 |
Cost of Materials Consumed | 1,886 | 1,403 | 2,038 | 741 |
Purchases of Stock in Trade | 899 | 588 | 647 | 315 |
Change in Inventories | 128 | -148 | -150 | -772 |
Employees Benefit Expenses | 750 | 830 | 557 | 150 |
Other Expenses | 1,491 | 804 | 833 | 328 |
EBITDA | 319 | 290 | 467 | 258 |
Depreciation & Amortisation | 101 | 73 | 53 | 28 |
Finance cost | 114 | 149 | 149 | 57 |
EBIT | 217 | 217 | 414 | 230 |
OPM (%) | 5.82% | 7.70% | 10.63% | 25.26% |
PBT | 104 | 68 | 265 | 173 |
Tax | 39 | 35 | 152 | 63 |
PAT | 65 | 34 | 114 | 110 |
NPM (%) | 1.18% | 0.90% | 2.58% | 10.82% |
No.of Shares | 113.41 | 113.41 | 113.41 | 113.41 |
EPS | 0.57 | 0.29 | 1.00 | 0.97 |
Comparison With Peers:
Name of the Company | Revenue (In Crore) | PAT (In Crore) | EPS ( in Rs) | P/E | CMP | Mcap (In Crore) |
Polysil Irrigation Systems Limited | 44 | 1 | 1.00 | 53.9 | 54 | 61 |
Captain Polyplast Limited | 225 | 6 | 1.09 | 20.3 | 49.8 | 251 |
R M Drip & Sprinklers Systems Limited | 11 | 0.03 | 0.04 | 30.8 | 105 | 132 |
Texmo Pipes & Products Limited | 635 | -72 | -24.58 | N/A | 96.8 | 282 |
Jain Irrigation Systems Limited | 5,690 | 832 | 13.69 | N/A | 65.8 | 4,461 |
Recommendation on Polysil Irrigation Systems Limited IPO:
To be updated shortly.
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Registrar of Polysil Irrigation Systems Limited IPO:
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