Mandeep Auto IPO

Mandeep Auto Industries Ltd

₹1,34,000 /2000 sharesMinimum Investment

Mandeep Auto IPO Listing Details

Listed OnIssue PriceListing PriceListing Gains
--₹67.00₹62.25-₹4.75 (7.09%)

Mandeep Auto IPO Details

Bidding DatesMin. InvestmentLot SizePrice Range
13 May ‘24 - 15 May ‘24₹1,34,0002,000₹67 - ₹67
Issue SizeIPO Doc
25.25Cr
RHP PDF

About Mandeep Auto

Mandeep Auto Industries Ltd is in the business of manufacturing and supplying sheet metal components, auto parts, and various types of sprocket gears and machined components. These products have a wide range of applications across diverse industries, including tractors, automobiles, material handling and earth-moving equipment, railways, defense, machine tools, and the DIY industry. It is located in Faridabad, Haryana. The company is ISO 9001:2015 certified. Currently, the company sells its products to customers in North India, i.e, Haryana, Uttar Pradesh, Uttarakhand, Punjab, and Delhi.;
Parent Organisation
Mandeep Auto Industries Ltd
Founded
NA
Managing Director
Mr. Gurpal Singh Bedi

Strengths & Risks

  • Mandeep Auto manufactures a wide range of machine components. These include Ring Sprocket 42T, Activa Self Gear, CNG Cover Plate, Sprag Clutch RE, Sprag Clutch, Honda Gear Kick, Yamaha Gear Kick B7J, Yamaha Gear Kick, Discover 14 teeth, and a variety of press components. These products cater to a large customer base in the domestic market
  • The company has adequate power supply arrangements for lighting and operating the machinery/equipment at its manufacturing unit from Dakshin Haryana Bijli Vitran Nigam. It has a load sanction of 340 KW. It also has a 250 KVA diesel generating set as an alternate power backup arrangement.
  • The company’s total income has been rising consistently over the years. It has risen from Rs 15.63 crore in FY21 to Rs 21.89 crore in FY22, Rs 29.08 crore in FY23. During this same period, the profit after tax (PAT) too climbed from Rs 0.50 crore in FY21 to Rs 0.65 crore in FY22 to Rs 1.05 crore in FY23.
  • The company’s revenue stream is diversified across multiple geographical locations in India. For the period ending January 31, 2024 and fiscal years ending March 2023, 2022 and 2021, around 83.50%, 72.98%, 75.55% and 80.71% of its total revenue came from sales in top 10 geographical regions in India.
  • As per the RHP, the company has well-established relationships with several domestic and global OEMs (Original Equipment Manufacturers) in the automobile sector, including M/s J.L Auto Parts Pvt. Ltd. (Faridabad, Haryana), M/s Tube Investments of India Limited (Chennai, Tamil Nadu), M/s Rockman Industries Limited (Saket, New Delhi), M/s Manvi Automobiles (Faridabad, Haryana), and M/s Jain Industrial Products Private Limited (Hissar, Haryana).
  • The company does not have a factory licence as is required under the Factories Act, 1948, for its manufacturing unit located in Faridabad, Haryana. Failure to obtain the same may have an adverse effect on the company’s business.
  • The company’s current manufacturing unit and the one which it is proposing to expand are situated on agricultural land. If the requisite approvals do not come through, it could adversely impact the company’s business.
  • Since the company was incorporated on April 19, 2023, there is very limited operating history, which could make it difficult to evaluate its past performance or future prospects.
  • For the period July 1, 2023 to December 31, 2023, the company’s top five clients/distributors accounted for about 82.47% of revenue from operations. Any drying up of business from this concentrated set of customers could be detrimental for the company.
  • The company does not have long-term agreements with most of its suppliers or customers, so the loss of one or more of them, or a reduction in demand for its products, could adversely impact its business, financial condition, and cash flows. Additionally, an inability to accurately forecast product demand or manage inventory and working capital requirements may have similar negative effects.
  • The company typically does business with its customers on a purchase order basis, without entering into long-term contracts. If the company fails to maintain customer relationships, it could adversely affect its business, prospects, results of operations, and financial condition.
  • As of November 08, 2023, the company's total outstanding borrowings were Rs. 6.84 cr. Failure to meet the conditions or obtain the necessary consents could have significant consequences for the company's business and operations.

Financials

*All values are in Rs. Cr
No Graph Data To Display

Application details

Apply asPrice bandApply upto
Regular67 - 67₹2 Lakh
High Networth Individual67 - 67₹2 - 5 Lakh
For Mandeep Auto IPO, eligible investors can apply as Regular.
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