Swashthik Plascon Limited IPO (Swashthik Plascon IPO)

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Swashthik Plascon Overview:

Business Focus: Manufacturing of PET Bottles and Preforms for various applications including pharmaceuticals, FMCG, household products, repellent dispensers, and beverages.

Foundation and Evolution:
– Established as “Swashthik Caps” (Partnership Firm) on June 30, 2006.
– Converted to Private Limited Company on May 5, 2011 (U25209PY2011PTC002578).
– Renamed to “Swashthik Plascon Private Limited” on June 13, 2023.
– Later became a Public Limited Company, renamed “Swashthik Plascon Limited” on July 17, 2023.

Promoters: Initially promoted by a group including Mrs. D Anita, Mr. Yeshpal Shivani, and others. Current promoters include Mr. Parasmal Mahendra Kumar, Mr. Misrimal Parasmal, among others.

Manufacturing Excellence:
– Utilizes Continuous Injection Stretch Moulding Machines.
– Ensures quality through enclosed, dust-proof environments and regular testing.
– Compliant with ISO 9001 and rigorous in-house quality control measures.

Product Range: Customized PET preforms & Bottles, meeting diverse customer requirements.

Management Expertise: Leadership with significant industry experience. Mr. Parasmal Mahendra Kumar (Chairman) and Mr. Mahendrakumar Gautam (Managing Director) bring 11 and 4 years of industry experience, respectively.

Group Companies: Includes M/s Swashthik Preforms Pvt Ltd., M/s Swashthik Industriees, and M/s Swashthik Poliemers.

Financial Highlights:
– Total Income (as of September 30): ₹2377.08 Lakhs.
– Restated Profit after Tax (as of September 30): ₹382.38 Lakhs.
– Previous Fiscal Year Data: Total Income of ₹4589.10 Lakhs and Profit after Tax of ₹302.19 Lakhs.

Objects of the Swashthik Plascon Limited IPO (Swashthik Plascon IPO):

The Company proposes to utilize the Net Proceeds from the Issue towards funding the following objects: 1. Funding capital expenditure for developing new manufacturing facilities and installation of Plant and Machiner 2. Funding of capital expenditure requirements of our Company towards Set up of Solar Power Plant; 3. Purchase of Plant and Machinery at our existing Manufacturing facility 4. Funding Working Capital Requirements of our Company 5. General corporate purposes
RHP of Swashthik Plascon Limited IPO (Swashthik Plascon IPO)

Swashthik Plascon Limited IPO (Swashthik Plascon IPO) Details:

Open Date: Nov 24 2023
Close Date: Nov 29 2023
Total Shares: 4,739,200
Face Value: ₹ 10 Per Equity Share
Issue Type: Book Building
Issue Size: 40.76 Cr Cr.
Lot Size: 1600 Shares
Issue Price: ₹ 80-86 Per Equity Share
Listing At: BSE SME
Listing Date: Dec 07 2023

Promoters And Management:

Mr. Mahendrakumar Gautam, aged 29 years is Managing Director of the Company. He holds Bachelor Degree in commerce and also passed the CA inter. He was appointed on the Board on September 15, 2023 as Managing Director of the Company for a period of 5 years, not liable to retire by rotation. He is having experience of 4 years in Pet Packaging industry. He has been instrumental in taking major policy decision of the Company. He is playing vital role in formulating business strategies and effective implementation of the same. He is responsible for the expansion and overall management of the business of the Company. His Vision to do business with ethics & to keep up with latest developments, Consistent Innovation in Technology and Management practices has helped him provide an overall growth for the company. Mr. Parasmal Mahendra Kumar, aged 57 years is the Chairman cum Non-Executive Director and also Promoter of the Company. He is qualified Chartered Accountant from institute of Chartered Accountant of India. He was originally appointed as Non-Executive on the Board on May 05, 2011 and further designated as Chairman w.e.f. September 15, 2023. He is having experience of 11 years in Pet Packaging Industry.  

Financials of Swashthik Plascon Limited IPO (Swashthik Plascon IPO):

Particulars ( In Lakhs )
2023
6M-FY24
Revenue from Operations 4,562 6,623
Other Income 27 351
Total Revenue 4,589 6,974
Cost of Materials consumed 1,627 2,424
Purchase of Stock-in-trade 2,017 3,218
Changes in Inventories -475 -868
Employee benefits expenses 362 411
Other Expenses 440 762
EBITDA 620 1,027
Depreciation & Amortisation 96 162
Finance Cost 177 178
EBIT 524 865
OPM (%) 13.51% 14.73%
PBT 347 687
Tax 45 158
PAT 302 528
NPM (%) 6.58% 7.58%
No.of Shares 175.63 175.63
EPS 1.72 3.01

Comparison With Peers:

Name of the Company Revenue (In Crore) PAT (In Crore) EPS ( in Rs) P/E CMP Mcap (In Crore)
Swashtik Plascon Limited 46 3 1.72 50.0 86 151
Technopack Polymers Limited 12 2 4.39 21.6 86.5 47
* All the data is as per FY23.

Lead Manager of Swashthik Plascon Limited IPO (Swashthik Plascon IPO):

  1. SHRENI SHARES PRIVATE LIMITED

Registrar of Swashthik Plascon Limited IPO (Swashthik Plascon IPO):

  1. Bigshare Services Private Limited

Discussion on Swashthik Plascon Limited IPO (Swashthik Plascon IPO):

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