Citichem India IPO
Citichem India Ltd
₹1,40,000 /2000 sharesMinimum Investment
Citichem India IPO Listing Details
Listed On | Issue Price | Listing Price | Listing Gains |
---|
-- | ₹70.00 | ₹70.00 | ₹0.00 (0.00%) |
Citichem India IPO Details
Bidding Dates | Min. Investment | Lot Size | Price Range |
---|
27 Dec ‘24 - 31 Dec ‘24 | ₹1,40,000 | 2,000 | ₹70 - ₹70 |
Qualified Institutional Buyers | 0.00x |
Non-Institutional Investor | 0.00x |
Retail Individual Investor | 0.00x |
Total | 167.59x |
Citichem India is involved in the procurement, trading, and supply of organic and inorganic chemicals, bulk drugs, and food chemicals. It caters primarily to the pharmaceutical industry. The company’s portfolio includes specialty chemicals and intermediates with applications across different sectors such as aluminum, steel, textiles, paper, dairy, paints, dyes, soap manufacturing, adhesives, and food production. The company also offers food preservatives and chemicals under its own brand. Citichem India operates through three key business divisions: Specialty chemicals, Intermediates & APIs, and Food and Laboratory chemicals.;
Managing director
Mr. Arif Esmail Merchant
Parent organisation
Citichem India Ltd
Strengths & Financials of Citichem India
Citichem India claims that the company ensures cost efficiency by sourcing chemicals from various locations, conducting thorough quality checks, and delivering them promptly to clients.
The company’s business is supported by loyal buyers who place repeat orders. The company states that the repeat orders are due to the high-quality products and strong relationships.
Citichem India provides after-sales support addressing customer needs across different segments. Additionally, an in-house sales and marketing team actively engages with buyers to understand and fulfil their requirements.
The company has seen a consistent increase in profit after tax (PAT). PAT increased from Rs 0.24 crore in FY22 to Rs 0.36 crore in FY23 to Rs 1.12 crore in FY24.
A major portion of the company’s revenue is reliant on a small group of customers. The top 10 customers contributed Rs. 1.10 crore (100.00%) during the stub period and Rs 19.60 crore (100.00%), Rs 19.93 crore (95.17%), and Rs 78.05 crore (91.59%) of revenue in FY24, FY23, and FY22, respectively, to the revenue from operations. Any loss of any major client or a reduction in business from them could adversely impact the company’s operations and finances.
The company, its promoters, and its directors are involved in certain legal proceedings. Any adverse judgments in any of these cases could be detrimental to the company’s business prospects.
The company deals in hazardous, corrosive, and flammable industrial chemicals, requiring specialised handling and storage. This involves significant risks, including any unforeseen accidents. Any such accidents that cause property damage, loss of life or operational disruptions could adversely affect the company’s operations and finances.
The company has not secured any insurance coverage, leaving it unprotected against material hazards, operational disruptions, or monetary losses resulting from work stoppages.
The company had negative cash flows from its operating, investing and financing activities in the past three years. Any repeat of that in the future will be harmful to the company’s business.
Citichem India Financials
*All values are in Rs. Cr
Application Details of Citichem India IPO
Apply as | Price band | Apply upto |
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Regular | ₹70 - 70 | ₹2 - 5 Lakh |
High Networth Individual | ₹70 - 70 | ₹2 - 5 Lakh |
For Citichem India IPO, eligible investors can apply as Regular.