Esprit Stones IPO
Esprit Stones Ltd
₹1,31,200 /1600 sharesMinimum Investment
Esprit Stones IPO Details
Bidding Dates | Min. Investment | Lot Size | Price Range |
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26 Jul ‘24 - 30 Jul ‘24 | ₹1,31,200 | 1,600 | ₹82 - ₹87 |
Esprit Stones is a producer of engineered stones, primarily engineered quartz surfaces, and, through its subsidiary HSPL, manufactures engineered marble surfaces. The company offers products in different colours, styles, designs, and textures. Through another subsidiary, Addwaya Chemicals, Esprit Stones manufactures unsaturated polyester resin, a crucial raw material for engineered stones.
The company markets and distributes its products both in the Indian and overseas markets. It employs a combination of direct exports and a network of independent distributors for sales in India. Esprit Stones exports its products to over 10 countries, including the USA, Canada, Egypt, Bulgaria, the UAE, and Saudi Arabia, primarily under white label agreements.;
Managing director
Mr. Sunilkumar Lunawath
Parent organisation
Esprit Stones Ltd
Strengths & Financials of Esprit Stones
Esprit Stones is ISO 14001:2015, ISO 45001:2018, and ISO 9001:2015 certified for environmental management systems, occupational health and safety management systems, and quality management systems. It also holds NSF and Green Guard certifications.
The company produces engineered quartz surfaces, primarily using quartz grit and unsaturated polyester resin. To minimise reliance on external suppliers, Esprit Stones established its second manufacturing unit to produce quartz grit. This backward integration helps it maintain more control over this crucial raw material.
Located in Udaipur, Rajasthan, Esprit Stones' manufacturing facilities benefit from easy access to essential minerals used in creating their engineered stones. This proximity offers significant economic and logistical benefits.
In the past three financial years, the revenue generated from its top five customers accounted for over half of total sales – 51.66% (Rs 139.54 crore) in FY24, 51.16% (Rs 87.06 crore) in FY23, and 72.66% (Rs 134.45 crore) in FY22.
A significant portion of Esprit Stones' revenue comes from exports to the United States. Any negative shifts in the economic or political relationship between India and the US could upset the company's operations.
As of March 31, 2024, the company had financial indebtedness of Rs 121.09 crore. Any inability to service or repay these borrowings could negatively affect the company.
Esprit Stones, along with its subsidiaries, promoters, and directors, is involved in various legal proceedings. Any unfavourable outcomes in these cases could negatively impact the company's operations.
The company had contingent liabilities of Rs 5.78 crore as of March 31, 2022, Rs 2.46 crore as of March 31, 2023, and Rs 6.98 crore as of March 31, 2024. Should these liabilities materialise, they could adversely impact the company's financial standing.
Esprit Stones Financials
*All values are in Rs. Cr
Application Details of Esprit Stones IPO
Apply as | Price band | Apply Range |
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Regular | ₹82 - 87 | ₹2 - 5 Lakh |
Employee | ₹77 - 82 | ₹2 - 5 Lakh |
High Networth Individual | ₹82 - 87 | ₹2 - 5 Lakh |
For Esprit Stones IPO, eligible investors can apply as Regular & Employee.