Rishabh Instruments Limited IPO

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Rishabh Instrument Limited is a global energy efficiency solution company focused on electrical automation, metering and measurement, precision engineered products, with diverse applications across industries including power, automotive and industrial sectors. They supply a wide range of electrical measurement and process optimization equipment, and are engaged in designing, developing and manufacturing, and sale of devices significantly under their own brand across several sectors.

They provide comprehensive solutions to their customers looking for cost-effective ways to measure, control, record, analyse and optimise energy and processes through their array of products.
It is a global leader in manufacturing and supply of analog panel meters, and they are among the leading global companies in terms of manufacturing and supply of low voltage current transformers.

They have a vertically integrated player involved in designing, developing, manufacturing and supplying
(a) electrical automation devices;
(b) metering, control and protection devices;
(c) portable test and measuring instruments;
(d) solar string inverters.

STRENGTHS
(i) Ability to drive technology and innovation through advanced research and development capabilities
(ii) Global engineering solution provider operating in large addressable markets and well positioned to benefit from mega industrialisation trends
(iii) Vertically integrated operations, backed by strong manufacturing capabilities
(iv) Diversified product portfolio
(v) Wide customer base

Objects of the Rishabh Instruments Limited IPO:

The issue comprises of Fresh Issue & Offer for Sale. The Company proposes to utilize the Net Proceeds towards funding the following objects (collectively, the “Objects”): 1. Financing the cost towards the expansion of Nashik Manufacturing Facility I (“Expansion Project”); and 2. General corporate purposes  
DRHP of Rishabh Instruments Limited IPO

Rishabh Instruments Limited IPO Details:

Promoters And Management:

i. Narendra Joharimal Goliya is the Chairman and Managing Director of the Company. He is the founder and Promoter of the Company. He has been associated with the Company since its incorporation and accordingly has over four decades of experience in the manufacturing and electrical industry. He holds a bachelor’s degree in technology (electrical engineering) from the Indian Institute of Technology, Bombay and a master’s degree in science from the Leland Stanford Junior University. He is also on the board of Nashik Engineering Cluster, Nashik Exhibition and Business Centre and Nashik Manav Sewa Foundation. ii. Parappath Kottekode Ramakrishnan is a Non-Executive Director of the Company. He holds a bachelor’s degree in science (mechanical engineering) from the University of Kerala. He was previously associated with VIP Industries Limited and Madras Rubber Factory Limited. iii. Alipt Sharma is a Non-Executive Nominee Director of the Company. He holds a bachelor’s degree in arts (economics) from the University of Delhi, has completed a post-graduate programme in management from the Indian School of Business, Hyderabad and is an associate member of the Institute of Chartered Accountants of India. He was previously associated with Ambit Private Limited.  

Financials of Rishabh Instruments Limited IPO:

Particulares ( In Crore ) 2022 2021 2020
Revenue From Operations 470 389 400
Other Income 9 12 8
Revenue 479 402 409
Cost of Material Comsumed 201 148 161
Purchase of Stock-in-trade 12 6 5
Changes in Inventories -16 1 -2
Employees Benefit Expenses 125 114 112
Other Expenses 74 61 64
EBITDA 82 70 68
Depreciation 19 21 24
EBIT 62 48 44
OPM (%) 17.22% 17.40% 16.69%
Finance Cost 3 3 3
PBT 59 45 40
Tax 9 9 8
PAT 46 38 31
NPM (%) 9.62% 9.49% 7.67%
No. of Shares 40 40 40
EPS 1.15 0.95 0.78

Comparison With Peers:

As Per DRHP there is no listed shares in India.
 

Recommendation on Rishabh Instruments Limited IPO:

To be update once Rishabh Instrument files for RHP.
 

Lead Manager of Rishabh Instruments Limited IPO:

  1. DAM Capital Advisors Ltd (Formerly IDFC Securities Ltd)
  2. Motilal Oswal Investments Advisors Private Limited

Registrar of Rishabh Instruments Limited IPO:

  1. Kfin Technology Private Limited

Company Address:

A-54, MIDC, Opposite MIDC Bus Depot, Andheri (East) Mumbai 400 093, Maharashtra, India; Tel: +91 22 282 54047  

Discussion on Rishabh Instruments Limited IPO:

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