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Kenrik Industries IPO
Kenrik Industries Ltd
₹1,50,000 /6000 sharesMinimum Investment
Kenrik Industries IPO Listing Details
| Listed On | Issue Price | Listing Price | Listing Gains |
|---|---|---|---|
| -- | ₹25.00 | ₹25.01 | ₹0.01 (0.04%) |
Kenrik Industries IPO Details
| Bidding Dates | Min. Investment | Lot Size | Price Range |
|---|---|---|---|
| 29 Apr ‘25 - 6 May ‘25 | ₹1,50,000 | 6,000 | ₹25 - ₹25 |
| Issue Size | IPO Doc |
|---|---|
| 8.75Cr | RHP PDF |
Subscription rate
As of 06 May'25, 05:00 PM
| Qualified Institutional Buyers | 0.00x |
| Non-Institutional Investor | 0.30x |
| Retail Individual Investor | 3.73x |
| Total | 1.91x |
About Kenrik Industries
Founded in
2017
Managing director
Mr Nitinkumar Dalpatbhai Shah
Parent organisation
Kenrik Industries Ltd
Strengths & Financials of Kenrik Industries
Strengths
Risks
Kenrik Industries claims to employ highly skilled artisans, designers, and technicians to whom the company attributes its product quality and design innovation.
Kenrik Industries claims to have strict quality control protocols and uses advanced testing equipment to verify the purity and durability of its jewellery. The company’s gold and silver products are BIS Hallmark certified under registration numbers HM/C7290224320 and HM/C7290224219.
The company claims to store its inventory in a designated, secure facility equipped with CCTV surveillance, fire management systems, burglar alarms, and remote sensors. It also employs security personnel for round-the-clock monitoring of its premises.
Kenrik Industries operates a multi-channel distribution system where retail and bulk buyers either collect products from its premises or receive them through an in-house delivery team (intra-state) or third-party logistics providers (inter-state).
The company claims to incorporate sustainability into its operations by sourcing recycled materials where possible, reducing waste, and adhering to ethical labour practices.
As of October 31, 2024, 100% of Kenrik Industries’ revenue (Rs 42.18 crore) was derived from Gujarat, while in FY24, FY23, and FY22, the state contributed Rs 69.35 crore (97.99%), Rs 49.81 crore (96.00%), and Rs 23.22 crore (71.26%), respectively, of revenues. Any adverse political, social or economic developments in this region could negatively impact the company.
The top 10 customers of the company contributed Rs 31.78 crore (75.35%), Rs 44.34 crore (62.65%), Rs 39.48 crore (76.09%), and Rs 25.70 crore (78.87%) to its revenue in the period ending October 31, 2024, and FY24, FY23, and FY22, respectively. Any failure to retain these key customers, expand the customer base, or a loss of business from these clients can adversely affect the company’s business and financial standing.
Kenrik Industries sourced Rs 30.58 crore (69.87%), Rs 47.47 crore (67.86%), Rs 34.30 crore (63.55%), and Rs 22.83 crore (75.14%) of raw materials from its top 10 suppliers in the period ending October 31, 2024, and FY24, FY23, and FY22 respectively. Since there are no long-term supply agreements, any disruption or price escalation could harm the company’s margins and procurement ability.
The company reported negative cash flow from operating activities amounting to Rs 3.29 crore and Rs 5.01 crore in the seven months ending October 31, 2024, and FY22, respectively. It also reported negative cash flow from investing activities amounting to Rs 0.51 crore and Rs 0.01 crore in FY23 and FY22, respectively. If cash outflows continue to exceed inflows, the company may face liquidity challenges in the future.
As of October 31, 2024, the company held inventory worth Rs 13.74 crore, representing 86.02% of total assets for the seven months ending October 31, 2024, and 68.04%, 64.17%, and 56.05% for FY24, FY23, and FY22, respectively. Over the years, inventory levels have been increasing. Any downtrend in sales could lead to capital being tied up, valuation losses during gold price volatility, or cash flow mismatches.
The company, its subsidiaries, 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.
Sale of gold bullion and jewellery contributed Rs 41.23 crore (97.74%), Rs 66.90 crore (94.53%), Rs 51.85 crore (99.94%), and Rs 31.27 crore (95.96%) to the company’s revenue in the period ending October 31, 2024, and FY24, FY23, and FY22, respectively. Any disruption in gold procurement or demand may significantly affect earnings and the company’s financial position.
As of October 31, 2024, the company had outstanding financial indebtedness of Rs 0.99 crore. Any failure to service or repay these loans can harm the company’s operations and financial position.
Kenrik Industries Financials
*All values are in Rs. Cr
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Application Details of Kenrik Industries IPO
| Apply as | Price band | Apply Range |
|---|---|---|
| Regular | ₹25 - 25 | ₹2 - 5 Lakh |
| High Networth Individual | ₹25 - 25 | ₹2 - 5 Lakh |
For Kenrik Industries IPO, eligible investors can apply as Regular.