(i) Sorich Foils Limited was incorporated on January 19, 2011, in Ahmedabad, Gujarat. Established in the year 2011, the Company is an ISO 9001: 2015 certified company engaged in manufacturing and supplying a varied range of Aluminium Foils for Blister, Strip Foils, Cold Forming Foil, Coated Glassine Paper for Blister, Laminated Glassine Paper for Strip Pack, Child Resistant (CR) Foils, Aluminium Lid Foils, Triple Laminates, Flexible Packaging for Pharma & Food Industries, also FMCG packaging materials. These products are manufactured using a quality raw material, which is sourced from reliable vendors of the market. This range is designed & developed utilizing advanced machinery and latest technology in complete adherence with the industry laid norms and standards. The offered range is appreciated among the clients for its features such as Water Vapor Resistance, Moisture & chemical barrier properties. These products are widely applicable in different industries such as Pharmaceutical Industries, FMCG packaging, Food and dairy industries, Confectionery / Chocolate industries & Personal Care Packaging. There is in-house quality check department to check the entire range on different parameters to maintain its authenticity throughout the manufacturing process.
(ii)The Company is promoted by Mr. Chandrahas Kotian who has successfully managed various phases of expansion and growth of company business and operations. He has around 2 decades of experience in foil packaging industry and has been instrumental in formulating growth strategy for the Company.
The Promoter is supported by a dedicated management team with several years of industry experience in their respective domains of sales, marketing, strategy, and finance.
Objects of the Sorich Foils Limited IPO:
Sorich Foils Limited IPO
1. Part Repayment/prepayment of Unsecured Loans availed by our Company
2. General corporate purposes
Promoters of Sorich Foils Limited Company are:
(i) Chadrahas Kotian, aged 47 years, is the Managing Director & CEO of the Company. He holds a Bachelor’s degree in Arts from the University of Mysore. He has a work experience of more than 25 years in High-Quality Pharma & Flexible Packaging material manufacturing. He is a guiding force behind the strategic decisions of our Company. He has been instrumental in formulating the overall business strategy and developing business relations of our Company.
(ii) Rajkumar Mishra, aged 40 years, is a Non-executive Director of the Company. He has completed the second year of Graduation in Commerce (SY BCOM) from University of Mumbai. He has more than 20 years of experience in pharmaceutical material manufacturing which also includes 5 years of experience in marketing of pharmaceutical packaging. In our Company, he looks after routine operational, production activities and manages overall operations of the plant.
(iii) Priya Kotian, aged 38 years, is a Non – Executive Director of the Company. She holds a Bachelor’s degree in Commerce from University of Mumbai and Diploma in Human Resource from Wellingkars Institute of Management Development Research, Mumbai. Her scope of work includes handling Human Resources and Administration Department of our Company.
(iv) Mayur Jain, aged 35 years, is an Independent Director of the Company. He is qualified Chartered Accountant and a proprietor of M/s Mayur Jain & Co., Chartered Accountants since 2010.
(i) Authorized Share Capital
(1,00,00,000 shares at FV@10)
(ii) Issued, Subscribed,& Paid-up Share Capital Before Issue
(58,33,334 Shares at FV@10)
(iii) Present Issue
( 25,00,000 Shares at FV@10)
(iv) Reservation for Market Maker ( 20000 Shares at FV@10)
(v) Net Issue to Public
(25,00,000-20000= 23,00,000 Shares)
(vi) QIB & HNI quota-11,50,00
(viii) Retail Quota - 11,50,000
(ix) Paid Up Share Capital after the issue
Financials of Sorich Foils Limited IPO as per DRHP:
1. Assets and Liabilities
2. Profit n Loss Key Parameter
(i) The Revenue of the company in last 5 years ( FY13 to 10MFY18) is 19.63 Cr, 22.85 Cr, 25.06 Cr, 26.89 Cr , 26.59 Cr and 23.13 Cr respectively.
(ii) The PAT of the company in last 5 years ( FY13 to 10MFY18) is 23.09 Lacs, 20.37 Lacs, 22.48 Lacs, 18.86 Lacs, 32.85 Lacs and 57.38 Lacs respectively.
(iii) The EBITDA Margins of the company for FY13( 5%), FY14(8.35%), FY15(8.50%) ,FY16(9.16%) , FY17(10.89%) and 10MF18(13.82%) .
(iv) P/B(post issue)= 1 (at cutoff price of 16)
(v) Annualized EPS(post issue)= .82
(vi) Annualized P/E(post issue)= 19.51 at the cutoff price of 16
Recommendation on Sorich Foils Limited IPO:
Review and Recommendation of
Sorich Foils Limited IPO
from our side is: