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Neptune Petrochemicals IPO
Neptune Petrochemicals Ltd
₹1,15,000 /1000 sharesMinimum Investment
Neptune Petrochemicals IPO Listing Details
| Listed On | Issue Price | Listing Price | Listing Gains |
|---|---|---|---|
| -- | ₹122.00 | ₹132.75 | ₹10.75 (8.81%) |
Neptune Petrochemicals IPO Details
| Bidding Dates | Min. Investment | Lot Size | Price Range |
|---|---|---|---|
| 28 May ‘25 - 30 May ‘25 | ₹2,30,000 | 1,000 | ₹115 - ₹122 |
| Issue Size | IPO Doc |
|---|---|
| 73.20Cr | RHP PDF |
Subscription rate
As of 30 May'25, 05:00 PM
| Qualified Institutional Buyers | 7.12x |
| Non-Institutional Investor | 10.05x |
| Retail Individual Investor | 0.00x |
| Total | 3.89x |
About Neptune Petrochemicals
Founded in
2021
Managing director
Mr Pareshkumar Subodhchandra Shah
Parent organisation
Neptune Petrochemicals Ltd
Strengths & Financials of Neptune Petrochemicals
Strengths
Risks
Neptune Petrochemicals offers a wide range of products, including various grades of bitumen, PMB, CRMB, and fuel oils. These products cater to sectors such as road construction, airport infrastructure, railways, power generation, and industrial applications, reducing dependence on a single market segment.
The company claims to have a fully automatic batch-type bitumen emulsion plant, which is designed to produce various grades of bitumen and emulsion.
Neptune claims to have built production capacities that can handle both regular and peak seasonal demands, especially for large infrastructure projects. This is particularly important in road construction, where bulk bitumen supply is time-sensitive.
The company claims to implement demand forecasting and supplier coordination to streamline raw material procurement and minimise production delays.
Neptune Petrochemicals is ISO 9001:2015 certified for quality management systems, ISO 14001:2015 certified for environmental management systems, and OHSAS 45001:2018 certified for occupational health and safety management systems.
The company has seen a consistent increase in profit after tax (PAT). PAT increased from Rs 0.68 crore in FY22 to Rs 10.39 crore in FY23 and Rs 20.81 crore in FY24.
The company is significantly dependent on imports of raw bitumen and petroleum oils from international suppliers, with cost, insurance, and freight (CIF) import values of Rs 438.13 crore (82.94 percent) in the period ended December 31, 2024, Rs 533.62 crore (96.57 percent) in FY24, Rs 535.83 crore (87.92 percent) in FY23, and Rs 97.86 crore (88.85 percent) in FY22. Any geopolitical tensions, trade restrictions, or logistical bottlenecks in exporting countries could delay procurement and hurt operational continuity.
A significant portion of the company's revenue is derived from the trading of bitumen and fuel oils. It accounted for Rs 521.57 crore (84.90 percent) of the company’s total revenue during the period ended December 31, 2024, Rs 509.82 crore (76.35 percent) in FY24, Rs 532.82 crore (75.28 percent) in FY23, and Rs 64.36 crore (79.30 percent) in FY22. This dependence on trading activities exposes the company to price volatility, supply chain risks, and demand fluctuations.
Since bitumen is a byproduct of crude oil, the company’s profitability is highly sensitive to global oil price swings. Any sudden increases in crude oil prices could spike input costs, potentially outpacing the company’s ability to pass on the cost to customers.
The company’s business is subject to seasonal fluctuations, with lower revenue generation observed during the monsoon quarter, due to a slowdown in road and construction activities. Any inability to address this fluctuation in demand could adversely affect its business and financial condition.
A significant portion of the company’s revenue comes from its top 10 clients. For the period ended December 31, 2024, they contributed Rs 241.64 crore (39.55 percent) to the company’s total revenue, Rs 182.86 crore (27.92 percent) in FY24, Rs 209.77 crore (30.20 percent) in FY23, and Rs 49.12 crore (62.19 percent) in FY22. Any failure to retain these key customers, expand the customer base, or a loss of business from these clients could adversely affect the company’s business and financial standing.
A significant portion of the company’s purchases of raw materials comes from its top three suppliers. They accounted for Rs 466.21 crore (88.25 percent) of the company’s total purchases in the period ended December 31, 2024, Rs 513.28 crore (92.89 percent) in FY24, Rs 531.07 crore (87.14 percent) in FY23, and Rs 105.03 crore (95.36 percent) in FY22. Any disruption in supplies from one or more of these suppliers could adversely affect the company’s business and finances.
The company, 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.
The company recorded negative cash flows from operating activities amounting to Rs 11.42 crore and Rs 6.88 crore in the period ended December 31, 2024, and FY23, respectively. It also recorded negative cash flows from investing activities amounting to Rs 0.36 crore, Rs 2.89 crore, and Rs 0.78 crore, in the period ended December 31, 2024, FY24, and FY23, respectively. Additionally, it recorded negative cash flows from financing activity amounting to Rs 5.37 crore and Rs 0.03 crore in FY24 and FY22, respectively. If cash outflows continue to exceed inflows, the company may face liquidity challenges in the future.
Neptune Petrochemicals Financials
*All values are in Rs. Cr
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Application Details of Neptune Petrochemicals IPO
| Apply as | Price band | Apply Range |
|---|---|---|
| Regular | ₹115 - 122 | ₹2 - 5 Lakh |
| High Networth Individual | ₹115 - 122 | ₹2 - 5 Lakh |
For Neptune Petrochemicals IPO, eligible investors can apply as Regular.