Company Profile
Incorporated in 1992, the company is primarily engaged in manufacturing and selling of Polypropylene (PP)/High-Density Polyethylene (HDPE) FIBC Bags, Woven Sacks, HDPE/PP woven fabrics, based products of different weight, sizes and colours as per customers specifications.
It has two business divisions (i) domestic sales; and (ii) exports. The company has a presence in 6 states and 1 union territory. Sah Polymers exports its products to 14 countries such as Algeria, Togo, Ghana, Poland, Portugal, France, Italy, USA, Australia, UAE, Palestine, UK, and Ireland. For the 3 months ended June 30, 2022, and for Fiscals 2022, the Company’s revenue from exports contributed 57.61% and 55.14%, respectively, of total revenues from operations.
Out of the current manufacturing facility (located at Mewar Industrial Area, Madri, Udaipur, Rajasthan), the Company manufactures a diverse range of HDPE/PP Woven Sacks and FIBC products with filling capacity of up to 500 KGs per bag/sack.
The Company intends to manufacture a new variant of FIBC products with filling capacities of up to 2,500 KGs out of the new Unit. The installed capacity of the new Unit is of 3,960 MT per annum, which is equivalent to the current capacity therefore the company’s capacity will double upon commissioning of the new plant.
Business Information
Sah Polymers caters to different industries such as Agro Pesticides Industry, Basic Drug Industry, Cement Industry, Chemical Industry, Fertilizer Industry, Food Products Industry, Textile Industry Ceramic Industry, and Steel Industry.
Its business has been running for over 25 years. Shah Polymer’s journey, governed by the principles of quality and customer service which has been remarkable in terms of the range of products that the company delivered including the quality.
The company has been bettering its financial performance over the past three years. In FY22, the company reported a net profit of Rs 4.38 crore on a revenue of Rs 80.51 crore, higher from a net profit of Rs 1.2 crore on a revenue of Rs 55 crore in FY21.
Facts about the Company
- Strong Management Team
- One of the leading PP Woven Bags Manufacturers in India.
- The company prepares to expand with a new manufacturing unit to widen its product portfolio and enhance their capacity.
- Having a good presence in India as well as overseas.
Points to note before investing in the IPO
- Sah Polymer offers diverse and customized products to B2B customers.
- The company at present is focusing on deepening its penetration leveraging from the rising demand of Indian cost-effective FIBC products in the international market.
- It has a customer base across industries and geographies both at domestic and overseas
- Sah Polymer is an ISO-certified company, offering customised polymer and FIBC packaging manufacturing and selling solutions.
Objective of the IPO
The company proposes to utilize the net proceeds towards funding the following objects:
1. Setting up a new manufacturing facility to manufacture a new variant of Flexible Intermediate Bulk Containers (FIBC).
2. Repayment/ Prepayment of certain secured and unsecured borrowings in full or part availed by the Company and the Subsidiary Company.
3. Funding the working capital requirements of the Compan and general corporate purposes.
Opening Date
| Dec 30, 2022
|
Closing Date
| Jan 04, 2023
|
Issue type
| Book Built Issue IPO
|
Face Value
| ₹10 per share
|
Issue Price
| ₹61 to ₹65 per share
|
Lot Size
| 230 Shares
|
IPO Price
| ₹66.30 Cr
|
Listing At
| NSE, BSE
|
Allotment, Listing & Refund Details
Finalization of Basis of Allotment
| Jan 09, 2023
|
Initiation of Refunds
| Jan 10, 2023
|
Credit of Equity Shares
| Jan 11, 2023
|
Listing Date
| Jan 12, 2023
|
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