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Eleganz Interiors IPO
Eleganz Interiors Ltd
₹1,23,000 /1000 sharesMinimum Investment
Eleganz Interiors IPO Listing Details
| Listed On | Issue Price | Listing Price | Listing Gains |
|---|---|---|---|
| -- | ₹130.00 | ₹122.00 | -₹8.00 (6.15%) |
Eleganz Interiors IPO Details
| Bidding Dates | Min. Investment | Lot Size | Price Range |
|---|---|---|---|
| 7 Feb ‘25 - 11 Feb ‘25 | ₹1,23,000 | 1,000 | ₹123 - ₹130 |
| Issue Size | IPO Doc |
|---|---|
| 78.07Cr | RHP PDF |
Subscription rate
As of 11 Feb'25, 04:00 PM
| Qualified Institutional Buyers | 4.84x |
| Non-Institutional Investor | 13.21x |
| Retail Individual Investor | 15.44x |
| Total | 13.02x |
About Eleganz Interiors
Founded in
1996
Managing director
Mr. Sameer Pakvasa
Parent organisation
Eleganz Interiors Ltd
Strengths & Financials of Eleganz Interiors
Strengths
Risks
The company claims to have a team of in-house and retained experienced and qualified engineers, architects, designers, and project management professionals to handle critical project aspects, such as designing, shop drawings, resource planning, procurement, and execution.
The company provides diversified service offerings across a wide range of industries. This includes corporate offices, R&D facilities, laboratories, airport lounges, and retail spaces, showcasing competence across different project types.
The company is ISO 9001:2015 certified for quality management systems, ISO 14001:2015 for environmental management systems, and ISO 45001:2018 for occupational health and safety (OH&S) management systems.
The company is also a founding member of the Indian Green Building Council (IGBC), which is actively involved in promoting the green building concept in India and has obtained platinum and gold “LEED” certifications for some of the projects.
The company has a presence across major economic and financial centres in India, i.e., Mumbai, Bengaluru, Hyderabad, Pune, NCR, Chennai, Ahmedabad, and Bhopal. They have branch offices and sales teams across these major economic hubs.
The company has seen a consistent increase in the revenue from operations and profit after tax (PAT) over the years. Revenue from operations increased from Rs 153.83 crore in FY22 to Rs 190.26 crore in FY23 to Rs 221.29 crore in FY24. PAT increased from Rs 5.09 crore in FY22 to Rs 10.31 crore in FY23 to Rs 12.20 crore in FY24.
A large portion of the company's revenue comes from repeat clients. These clients contributed Rs 117.77 crore (61.31%) for the six months ending September 30, 2024, and Rs 198.31 crore (89.62%), Rs 134.63 crore (70.76%), and Rs 123.34 crore (80.18%) in FY24, FY23, and FY22, respectively, to the revenue from operations. Any loss of these clients or a drop in repeat business from any of them could negatively impact the financial performance of the company.
The company depends on a limited number of clients for a major share of its revenue. The top 10 clients accounted for Rs 147.44 crore (76.75%) in the six months ending September 30, 2024, and Rs 172.70 crore (78.04%), Rs 134.39 crore (70.64%), and Rs 127.69 crore (82.31%) in FY24, FY23, and FY22, respectively, to the revenue from operations. Any loss of any of these key clients could adversely affect the operations and finances of the company.
Certain business operations, such as transport, logistics, and some manufacturing activities, are outsourced to third parties. Any failure on their part to provide timely and efficient services could disrupt operations, impacting financial performance and cash flow.
Despite a broad geographical presence, the company’s projects are primarily concentrated in Maharashtra. The state contributed Rs 89.79 crore (46.74%) for the six months ending September 30, 2024, and Rs 126.02 crore (56.95%), Rs 99.10 crore (52.09%), and Rs 46.14 crore (30.00%) in FY24, FY23, and FY22, respectively, to the revenue from operations. Any adverse developments in regional policies, laws, regulations, or economic conditions could adversely affect business operations and financial performance.
A large portion of the company’s revenue is generated through tenders and e-auctions. These contributed Rs 223.32 crore (99.91%) in the six months ending September 30, 2024, and Rs 253.08 crore (99.99%), Rs 223.37 crore (99.53%), and Rs 181.35 crore (99.88%) in FY24, FY23, and FY22, respectively, to the revenue from operations. Any inability to secure contracts through these processes could impact the profitability and revenue growth of the company. Additionally, meeting technical and financial eligibility criteria is essential for bidding, and failure to do so could limit new business opportunities.
The company also takes on subcontracting projects, which come with additional terms and conditions. Non-compliance could lead to penalties, early contract termination, and financial losses, affecting business operations and cash flow.
The company, its promoters and directors are involved in certain ongoing legal proceedings. Any adverse judgments in any of these cases could be detrimental to the company’s business prospects.
As of September 30, 2024, the company’s total debt stood at Rs 63.91 crore. Any inability to service or repay these loans could harm the company’s financial position.
Eleganz Interiors Financials
*All values are in Rs. Cr
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Application Details of Eleganz Interiors IPO
| Apply as | Price band | Apply Range |
|---|---|---|
| Regular | ₹123 - 130 | ₹2 - 5 Lakh |
| High Networth Individual | ₹123 - 130 | ₹2 - 5 Lakh |
For Eleganz Interiors IPO, eligible investors can apply as Regular.