Sheetal Universal Limited IPO

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  1. Core Business Activity:
    • The company is engaged in the sourcing, processing, and supply of agricultural commodities such as peanuts, sesame seeds, spices, and grains.
    • The processed products cater to manufacturers in the food industry, including those producing peanut butter, biscuits, cakes, chocolate, and other food products.
  2. Export Focus:
    • The company has gained recognition as a Category One Star Export House Exporter and later as a Two Star Export House by the Ministry of Commerce and Industry.
    • It has an owned manufacturing and processing facility in Gujarat, India, with certifications such as ISO 22000:2018 for quality control in processing groundnuts, sesame seeds, and spices.
    • The company exports its products to various countries, including Russia, Indonesia, Malaysia, Vietnam, UAE, Iran, Algeria, Israel, Turkey, and Egypt.
  3. Quality Control and Certifications:
    • The manufacturing facility adheres to strict quality control mechanisms at each stage of the process.
    • The facility is accredited with ISO 22000:2018 certifications, and the company is a member of Agricultural & Processed Food Products Export Development Authority and Indian Oil Seeds & Produce Export Promotion Council.
  4. Management and Promoters:
    • The company is led by Mr. Hiren Vallabhbhai Patel and Mrs. Kajal Hiren Patel, who have over 8 years of business experience in the agro-processing industry.
    • Their expertise contributes to the efficiency of processing and exporting quality food ingredients.
  5. Subsidiaries:
    • The company has two subsidiaries, Saumesvar International Private Limited and Svar Industries Private Limited, which are also involved in processing and exporting agri commodities like oilseeds and grains.
  6. Product Diversification and Expansion:
    • The company started with processing peanuts in FY 2017 and later expanded to include sesame seeds and spices.
    • With knowledge and overseas experience, the company plans to set up a manufacturing facility for defatted protein powder and extract cold press oil for both domestic and export markets.
  7. Market Presence:
    • The company has established a regular customer base in various countries, showcasing its global presence in the agro-processing market.
  8. Quality and Safety Focus:
    • The company’s motto is to provide quality products while maintaining safe and hygienic operational conditions, evident in certifications such as FSSAI-2006 from the Government of India.
  9. Forward Integration:
    • Considering its experience in the agro-processing industry, the management plans to forward-integrate by setting up a manufacturing facility for defatted protein powder and cold-pressed oil, targeting both domestic and international markets.

Objects of the Sheetal Universal Limited IPO:

The Issue Proceeds from the Fresh Issue will be utilized towards the following objects: 1. Funding capital expenditure 2. Working Capital Requirement 3. General Corporate Purpose 4. To meet Public Issue Expenses
DRHP of Sheetal Universal Limited IPO
RHP of Sheetal Universal Limited IPO

Sheetal Universal Limited IPO Details:

Open Date: Dec 04 2023
Close Date: Dec 06 2023
Total Shares: 3,400,000
Face Value: ₹ 10 Per Equity Share
Issue Type: Fixed Price Issue IPO
Issue Size: 23.80 Cr.
Lot Size: 2000 Shares
Issue Price: ₹ 70 Per Equity Share
Listing At: NSE Emerge
Listing Date: Dec 11 2023

Promoters And Management:

Mr. Hiren Vallabhbhai Patel aged 37 years is Promoter and Managing Director of the Company. He was appointed as a Non-executive Director since the incorporation of the company, i.e., since August 20, 2015 and later his designation was changed to Managing Director, liable to retire by rotation for a period of five years w.e.f. November 28.2016. Further, he was reappointed as a Managing Director, liable to retire by rotation for a period of five years from November 28, 2021 to November 27, 2026. The director has overall business experience of 8 years in food processing sector. He has been instrumental in taking major business decision of the Company and also in leading Mrs. Kajal Hiren Patel aged 35 years is Promoter and Whole Time Director of the Company. She was appointed as a Non-executive Director since the incorporation of the company, i.e., since August 20, 2015 and later her designation was changed to Whole Time Director, liable to retire by rotation for a period of five years w.e.f. November 28, 2016. Further, she was reappointed as a Whole Time Director, liable to retire by rotation for a period of five years from November 28, 2021 to November 27, 2026. She has experince of 8 years in staff management and currently she is managing the Human Resource. Mr. Nishant Shavjibhai Ramani aged 39 years is Non-Executive Director of the Company. Originally, he was appointed as a director since the incorporation of the company, i.e. August 20, 2015, liable to retire by rotation at Annual General Meeting. He has overall business experience of 8 years in ceramic industry. He is looking after branding, marketing and designing export bag, adding value of the products and brand on social media.

Financials of Sheetal Universal Limited IPO:

Particulars ( In Lakhs )
2021
2022
2023
5M-FY24
Revenue from Operations 3,764 3,869 12,881 5,676
Other Income 120 115 284 151
Total Revenue 3,884 3,984 13,166 5,827
Cost of material consumed 3,508 3,313 11,852 5,523
Changes in Inventories -122 37 -311 -276
Employee benefits expenses 23 20 23 10
Other Expenses 351 483 1,168 237
EBITDA 124 131 434 332
Depreciation & Amortisation 47 44 63 29
Finance Cost 45 45 92 53
EBIT 77 86 370 304
OPM (%) 3.19% 3.29% 3.29% 5.70%
PBT 32 42 278 251
Tax 6 13 79 63
PAT 25 28 199 188
NPM (%) 0.65% 0.71% 1.51% 3.22%
No.of Shares 114.55 114.55 114.55 114.55
EPS 0.22 0.24 1.73 1.63
 

Comparison With Peers:

Notes: - There is no listed companies related to this company.

Lead Manager of Sheetal Universal Limited IPO:

  1. Beeline Broking Limited

Registrar of Sheetal Universal Limited IPO:

  1. Bigshare Services Private Limited

Company Address:

Sheetal Universal Limited Office No. 348 2nd Floor, ISCON Mall, 150 Feet Ring Road, Rajkot - 360005 Phone: +91 9099302638 Email: cs@sheetaluniversal.com Website: https://sheetaluniversal.com/

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