Srivasavi Adhesive Tapes Limited IPO

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i. Srivasavi Adhesive two business divisions (i) domestic sales; and (ii) exports. They have presence in 23 states for their domestic market based on sales made for the period ended September 30, 2022. Internationally they supply products in 13 countries such as Egypt, France, Indonesia, Kuwait, Poland, Qatar, Spain, Australia, Italy, South Africa, Sri Lanka, United State of America and UAE based on sales made for the period ended September 30, 2022.

ii. For the period ended September 30, 2022 and for the Fiscals 2022, 2021 and 2020 the revenue from exports was Rs 39.45 lakhs, Rs. 288.58 lakhs, Rs. 341.55 lakhs and Rs. 217.85 lakhs contributed 1.29%, 4.55%, 6.18%, and 4.74% respectively of their revenue from operations.

iii. Srivasavi Adhesive Tapes is also engaged in manufacturing of its products for third party customers and the same is supplied according to their specific branding requirements.

iv. The company’s product portfolio includes industrial speciality self-adhesive tapes, which are made out of film, foam, foil, fabric and paper, with different kind of adhesive system to suit industrial application and specification oriented adhesive tapes. They make Filament tapes, Fiber glass fabric tapes, polyester tapes, cotton fabric tapes, Double sided tapes, scrim tapes, reinforced foil tape, reinforced paper tape, high temperature resistant polyester tapes, Aluminum foil tapes, ECO friendly paper tapes, BOPP Packaging tapes, Protection tapes, Masking tapes, Foams Tapes etc.

 v. The company believes that maintaining a variety of products in its business provides them with an opportunity to cater to diverse needs of different customer segment such as Automotive, Locomotives, Aerospace, Defence, Electrical & Electronics, Renewable Energy, Solar, Print & Paper, Food & Pharma, FMCG, White & Brown Goods, Furniture, Retail, Construction, Infrastructure, Sports & Fitness Equipment, Textiles & Leather Industries.

vi. Srivasavi Adhesive products undergo quality check at various levels of production to ensure that any quality defects or product errors are rectified on real time basis.

vii. The raw materials are majorly procured from domestic states such as Punjab, Uttarakhand, Haryana, Delhi, Rajasthan, Uttar Pradesh, West Bengal, Jharkhand, Madhya Pradesh, Gujarat, Daman and Diu, Dadra and Nagar Haveli, Maharashtra, Karnataka, Goa, Kerala, Tamil Nadu, Puducherry, Telangana and Andhra Pradesh and in the international markets the raw materials are procured from America, China, Hong Kong, Italy, Korea, Malaysia, Norway, Singapore, Taiwan, Catawba, Spain, Taiwan and UAE.

viii. Competitive Strengths
a. Product portfolio
b. Customer base across geographies and industries
c. Leveraging the experience of the promoter
d. Quality assurance

 

 

Objects of the Srivasavi Adhesive Tapes Limited IPO:

The Company proposes to utilize the Net Proceeds from the Issue towards funding the following objects: i. Funding working capital requirements; ii. General corporate purposes.  
DRHP of Srivasavi Adhesive Tapes Limited IPO
RHP of Srivasavi Adhesive Tapes Limited IPO

Srivasavi Adhesive Tapes Limited IPO Details:

Open Date: Feb 23 2023
Close Date: Feb 28 2023
Total Shares: 3,780,000
Face Value: ₹ 10 Per Equity Share
Issue Size: 15.50 Cr.
Lot Size: 3000 Shares
Issue Price: ₹ 41 Per Equity Share
Listing At: NSE Emerge
Listing Date: Mar 09 2023

Promoters And Management:

D N Anilkumara, aged around 44 years, is the Promoter, Chairman and Managing Director of the Company. He holds Degree in Bachelor of Commerce, from University of Bangalore in 1999 and he also, completed Post-Graduate Diploma in Marketing and Advertising from Bhavan’s Rajendra Prasad institution of Communication and Management. He has been associated with the Company as Director since inception and was redesignated as Managing Director w.e.f September 29, 2022 for a period of 5 years. He is looking after core management of the company and entrepreneur, active and enthusiastic in business activities. He has been instrumental in taking major policy decision of the Company. He has more than 10 years of experience in the industry. He has been instrumental in taking major policy decision of the Company. Ashwini D A, aged around 38 years, is the and Executive Director and Chief Finance Officer of the Company. She holds Degree in Bachelor of Commerce, from University of Bangalore in 2007. She has been associated with the Company as Director since inception. and appointed Chief Financial Officer of the Company w.e.f. September 29, 2022. She is having experience of more than 10 years in the industry. She is involved in the business right from conceptualization stage to execution stage like Administration, monitoring all activities. She also looks after Finance & Accounts division of the Company. Rathnamma K N, who is Non-Executive Director of the Company, does not holding any formal education degree. She has been appointed as Non-Executive Director of the Company with effect from September 29, 2022.  

Financials of Srivasavi Adhesive Tapes Limited IPO:

Particulars ( In Lakhs ) 6MFY23 2022 2021 2020
Revenue from Operations 3057 6343 5525 4600
Other Income 15 48 40 34
Total Revenue 3072 6392 5566 4634
Cost of Materials Consumed 2516 5275 4632 3893
Changes in inventories - - - -
Employee Benefits Expense 207 394 408 331
Other Expenses 66 126 186 124
EBITDA 281 594 338 284
Depreciation & Amortisation 35 73 62 52
Finance Cost 22 37 21 55
EBIT 245 520 276 231
OPM (%) 9.15% 9.30% 6.09% 6.14%
PBT 222 483 255 176
Taxes 42 121 67.00 75
PAT 180 362 187 101
NPM (%) 5.88% 5.67% 3.37% 2.18%
No.of Shares 141 141 141 141
EPS 1.27 2.55 1.32 0.71
P/E 32.15 16.04 31.02 57.46

Comparison With Peers:

There are no listed companies in India which are engaged in the similar business.  

Lead Manager of Srivasavi Adhesive Tapes Limited IPO:

  1. SHRENI SHARES PRIVATE LIMITED

Registrar of Srivasavi Adhesive Tapes Limited IPO:

  1. Bigshare Services Private Limited

Company Address:

Srivasavi Adhesive Tapes Limited No. B 100, KSSIDC Industrial Estate, Doddaballapura, Bangalore 561 203 Phone: 08023629383 Email: investors@vasavitapes.com Website: http://www.vasavitapes.com/

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