Excellent Wire and Packaging IPO

Excellent Wires and Packaging Ltd

₹1,44,000 /1600 sharesMinimum Investment

Excellent Wire and Packaging IPO Details

Bidding DatesMin. InvestmentLot SizePrice Range
11 Sep ‘24 - 13 Sep ‘24₹1,44,0001,600₹90 - ₹90
Issue SizeIPO Doc
12.60Cr
RHP PDF

Subscription rate

As of 13 Sep'24, 05:00 PM
Qualified Institutional Buyers0.00x
Non-Institutional Investor0.00x
Retail Individual Investor0.00x
Total18.39x

About Excellent Wire and Packaging

Excellent Wires and Packaging is a manufacturer of different types of wires and a dealer in packaging products. The company’s product offerings can be categorised into three segments: brass wires and products, steel wires and products, and other products, viz., packaging-related items. Excellent Wires’ product portfolio includes spring steel wire, high-carbon wire, galvanised wire, round and flat stitching wires, mild steel and low-carbon wire, H.B. and H.H.B. wire, annealed wire, brass wire, copper wire, stainless steel wire, spiral wires, binding wires, and baling wires. The company also manufactures ropes made from high-carbon or stainless steel, with or without PVC coating. In the packaging segment, Excellent Wires supplies packaging products such as PP strapping rolls and BOPP self-adhesive tapes, which are sourced from the market and sold to customers based on demand. The company’s products are used across several industries, including packaging, engineering, stationery, imitation jewellery, and wires & cables.;
Founded in
2021
Managing director
Mr. Rachit Paresh Masalia
Parent organisation
Excellent Wires and Packaging Ltd

Strengths & Financials of Excellent Wire and Packaging

Strengths
Risks
Excellent Wires and Packaging is ISO 9001:2015 certified for quality management systems.
The company has seen a consistent increase in revenue from operations and profit after tax (PAT). While revenue from operations increased from Rs 7.29 crore in FY22 to Rs 14.48 crore in FY23 to Rs 15.41 crore in FY24, PAT increased from Rs 0.05 crore in FY22 to Rs 0.10 crore in FY23 to Rs 0.83 crore in FY24.
The company has 880 MTPA of installed capacity for the production of various types of wires and related products.
Raw materials undergo various in-house tests as well as testing at NABL-accredited external laboratories at the incoming stage to ensure they meet specified standards. During the manufacturing process, the company conducts regular in-house tests using their testing equipment to maintain consistent quality.
The company's top 10 customers contributed 64.58%, 61.34%, and 50.44% to the revenue from operations in FY24, FY23, and FY22, respectively. Since the company does not have any long-term contracts with any of its customers, any loss or decline in purchase orders from these key customers could adversely impact the company’s business operations.
The company’s major customer, Prime Wires Private Limited, has contributed 41.13%, 35.69%, and 23.03% to the revenue from operations in FY24, FY23, and FY22, respectively. The loss of this particular customer could negatively impact the financial standing of the company.
The company’s manufacturing facility is concentrated in one geographical area, Palghar, Maharashtra. Any disruptions or adverse developments in the area could negatively impact the company’s operations.
The company, its promoters, and its directors are involved in certain legal proceedings. Adverse judgments in any of these cases could negatively impact the company’s business prospects.
The company’s total outstanding indebtedness as of July 31, 2024, stood at Rs 1.65 crore. Any inability to service or repay these loans on time could negatively impact the company’s business.

Excellent Wire and Packaging Financials

*All values are in Rs. Cr
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Application Details of Excellent Wire and Packaging IPO

Apply asPrice bandApply Range
Regular90 - 90₹2 - 5 Lakh
High Networth Individual90 - 90₹2 - 5 Lakh
For Excellent Wire and Packaging IPO, eligible investors can apply as Regular.