Kronox Lab Sciences Ltd

Kronox Lab IPO

Kronox Lab Sciences Ltd

₹14,190 /110 sharesMinimum investment

IPO details

Minimum investment
₹14,190
Price range
₹129 - ₹136
Lot size
110
Issue size
130.15 Cr
Face value
10
IPO document

Subscription rate

Qualified Institutional Buyers89.03x
Non-Institutional Investor301.35x
Retail Individual Investor52.86x
Total116.44x
As of 05 Jun'24, 05:00 PM

Schedule

3 Jun 2024
IPO open date
5 Jun 2024
IPO close date
6 Jun 2024
Allotment date
6 Jun 2024
Funds unblock or debit
10 Jun 2024
Tentative listing date

About

Kronox Lab Sciences Limited manufactures high specialty fine chemicals for diversified end user industries. The company manufactures these fine chemicals in various grades of particle sizes ranging from 10 mesh to 100 mesh. These are used mainly as (i) reacting agents and raw materials in the manufacturing of active pharmaceutical ingredients (APIs); (ii) excipients in pharmaceutical formulations; (iii) reagents for scientific research and laboratory testing; (iv) ingredients in nutraceutical formulations; (v) process intermediates and fermenting agents in biotech applications; (vi) ingredients in agrochemical formulations; (vii) ingredients in personal care products; (viii) refining agents in metal refineries; and (ix) ingredients in animal health products, amongst others. The company also undertakes custom manufacturing of these products. The company has three manufacturing units located in Vadodara, Gujarat. These are close to the seaports of Mundra, Kandla, Hazira, and Nhava Sheva. These manufacturing units have an aggregate installed capacity of 7,242 tonnes per annum (TPA).;
Founded in
2008
MD/CEO
Mr. Jogindersingh Jaswal
Parent organisation
Kronox Lab Sciences Ltd

Kronox Lab Financials

Revenue
Total Assets
Profit
All values are in ₹ Cr
62.4682.2595.58202120222023

Strengths & Risks

Strengths
Risks
The company manufactures over 185 products spanning the phosphate, sulphate, acetate, chloride, citrate, nitrates, nitrites, carbonate, EDTA derivatives, hydroxide, succinate, and gluconate families.
Its products are supplied to customers in India and more than 20 countries globally, including the US, Argentina, Mexico, Australia, Egypt, Spain, Turkey, UK, Belgium, UAE, and China.
The company’s products are used across a wide spectrum of industries, like pharmaceuticals, scientific and laboratory research, nutraceuticals, biotech, agrochemicals, personal care, metallurgy, and animal health.
Kronox Lab Sciences is a zero debt company with a history of over a decade of operations. The latter makes it easy for potential investors to study its past performance and estimate its future prospects.
For the financial years ended March 31, 2021, 2022, and 2023, the company’s total income increased from Rs 62.46 crore to Rs 82.25 crore to Rs 95.58 crore, while PAT rose from Rs 9.74 crore to Rs 13.54 crore to Rs 16.83 crore, respectively.
The company’s products are supplied in limited quantities for specific use by application industries. Any reduction in the requirement for these products may result in loss of business for the company.
The company’s top 20 products contributed 60.49%, 70.58%, 68.62%, 69.85%, and 70.04% of its revenue for the nine months ended December 31, 2023, and financial years ended December 31, 2022, December 31, 2023, December 31, 2022, and December 31, 2021, respectively.
Most of the sales of the company’s products are to the pharmaceutical industry and for scientific research and laboratory testing. Any change in demand or change in application or processes by the company’s customers in these industries may lead to loss of revenues and profits.
The company’s top 10 customers contributed 45.22%, 53.58%, 50.68%, 56.18%, and 56.32% of its revenue for the nine months ended December 31, 2023, December 31, 2022, FY23, FY22, and FY21, respectively.
This being an offer-for-sale (OFS), the company won’t receive any proceeds from the IPO.

Application details

For Kronox Lab IPO, eligible investors can apply as Regular.

Apply asPrice bandApply rangeLot size
Regular₹129 - ₹136Upto ₹2 Lakhs110
High Networth Individual₹129 - ₹136₹2 - ₹5 Lakhs110

Frequently Asked Questions