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Kross IPO
Kross Ltd
₹14,136 /62 sharesMinimum Investment
Kross IPO Details
| Bidding Dates | Min. Investment | Lot Size | Price Range |
|---|---|---|---|
| 9 Sep ‘24 - 11 Sep ‘24 | ₹14,136 | 62 | ₹228 - ₹240 |
| Issue Size | IPO Doc |
|---|---|
| 500.00Cr | RHP PDF |
Subscription rate
As of 11 Sep'24, 05:00 PM
| Qualified Institutional Buyers | 23.32x |
| Non-Institutional Investor | 22.03x |
| Retail Individual Investor | 9.88x |
| Total | 16.32x |
About Kross
Founded in
1991
Managing director
Mr. Sudhir Rai
Parent organisation
Kross Ltd
Strengths & Financials of Kross
Strengths
Risks
Kross’s client portfolio includes names like Ashok Leyland, Tata International DLT, Sweden-based Leax Falun AB, and a Japan-based OEM that manufactures commercial vehicles.
Kross claims that its manufacturing facilities have advanced equipment like forging presses and upsetters with induction billet heaters, a foundry featuring a high-pressure mold line, and high-precision machining tools such as turning centres, vertical and horizontal milling centres, grinding machines, broaching, hobbing, shaping, and robotic welding. The facilities also have an in-house cathodic electro-deposition (CED) plant, powder coating, spray painting, heat treatment furnaces, and induction hardening equipment.
All five manufacturing units of Kross (Units I, II, III, IV, and V) are ISO 9001:2015 certified for the manufacture of axle shafts.
Manufacturing Unit III holds ISO 14001:2015 for the manufacture of axle shafts, universal joints, propeller shaft parts, differential spiders, companion flanges, bevel kit assembly, and CED coating, and ISO 45001:2018 certification for the production of axle shafts, PTO shafts, lift shafts, ring gears, and bevel gear assembly, among other parts.
The company has seen a consistent increase in revenue from operations and profit after tax (PAT) over the past few years. Revenue from operations increased from Rs 297.45 crore in FY22 to Rs 488.63 crore in FY23 to Rs 620.25 crore in FY24. PAT increased from Rs 12.17 crore in FY22 to Rs 30.93 crore in FY23 to Rs 44.88 crore in FY24.
A major portion of Kross’s revenue is derived from its top five customers. The revenue from operations from these customers came in at Rs 409.52 crore (66.02%), Rs 334.09 crore (68.37%), and Rs 209.63 crore (70.47%) in FY24, FY23, and FY22, respectively. Any loss of these customers or a reduction in demand from them can adversely affect the company’s financial standing.
A substantial part of Kross's revenue comes from the sale of trailer axles and suspension assemblies for medium and heavy commercial vehicles (M&HCVs). Regulatory changes or technological shifts towards renewable/green energy could drastically affect demand for these products, thereby harming the company's finances.
All five manufacturing facilities are located in Jamshedpur, Jharkhand. Any adverse developments in the state’s political or economic environment can adversely affect the company’s operations and growth.
As of June 30, 2024, Kross has long-term borrowings of Rs 33.14 crore and short-term borrowings of Rs 90.41 crore. Any inability to service or repay these loans could adversely affect the company’s business.
The sales of Kross’s products depend on the sales of the vehicles manufactured by the company’s customers. A decline in their sales would lead to a decrease in demand for Kross’s products from them. This would adversely affect the company's business.
Kross Financials
*All values are in Rs. Cr
No Graph Data To Display
Application Details of Kross IPO
| Apply as | Price band | Apply Range |
|---|---|---|
| Regular | ₹228 - 240 | Upto ₹2 Lakh |
| High Networth Individual | ₹228 - 240 | ₹2 - 5 Lakh |
For Kross IPO, eligible investors can apply as Regular.