Esprit Stones Ltd

Esprit Stones IPO

Esprit Stones Ltd

₹1,31,200 /1600 sharesMinimum investment

IPO details

Minimum investment
₹1,31,200
Price range
₹82 - ₹87
Lot size
1,600
Issue size
50.42 Cr
Face value
10
IPO document

Subscription rate

Data will be available soon

Schedule

26 Jul 2024
IPO open date
30 Jul 2024
IPO close date
31 Jul 2024
Allotment date
31 Jul 2024
Funds unblock or debit
2 Aug 2024
Tentative listing date

About

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.;
Founded in
2016
MD/CEO
Mr. Sunilkumar Lunawath
Parent organisation
Esprit Stones Ltd

Esprit Stones Financials

Revenue
Total Assets
Profit
All values are in ₹ Cr
186174273202220232024

Strengths & Risks

Strengths
Risks
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.

Application details

For Esprit Stones IPO, eligible investors can apply as Regular & Employee.

Apply asPrice bandApply rangeLot size
Regular₹82 - ₹87₹2 - ₹5 Lakhs1600
Employee₹77 - ₹82₹2 - ₹5 Lakhs1600
High Networth Individual₹82 - ₹87₹2 - ₹5 Lakhs1600

Frequently Asked Questions