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Platinum Industries IPO
Platinum Industries Limited
₹14,094 /87 sharesMinimum Investment
Platinum Industries IPO Details
| Bidding Dates | Min. Investment | Lot Size | Price Range |
|---|---|---|---|
| 27 Feb ‘24 - 29 Feb ‘24 | ₹14,094 | 87 | ₹162 - ₹171 |
| Issue Size | IPO Doc |
|---|---|
| 235.32Cr | RHP PDF |
Subscription rate
| Qualified Institutional Buyers | 151.00x |
| Non-Institutional Investor | 141.76x |
| Retail Individual Investor | 50.67x |
| Total | 98.86x |
About Platinum Industries
Founded in
2016
Managing director
Mr. Krishna Rana
Parent organisation
Platinum Industries Limited
Strengths & Financials of Platinum Industries
Strengths
Risks
The company's revenue from operations increased from Rs. 89.14 cr in Fiscal 2021 to Rs. 234.06 cr in Fiscal 2023, with a CAGR of 62.04% over the three fiscal years. Its Profit After Tax (PAT) increased from Rs. 4.82 cr in Fiscal 2021 to Rs. 36.2 cr in Fiscal 2023, with a CAGR of 174.04% during the same period.
The company has an in-house R&D facility spanning 3,351.82 sq. ft. in Palghar, Maharashtra. The R&D facility comprises an analytical laboratory and an application laboratory, for product quality validation and the development of new compounds and grades.
The company started off with PVC stabilizers and was primarily supplying to PVC pipes industry (irrigation, and water transport). It has expanded its product portfolio to pipes and fittings, rigid and semi-rigid films, window profiles, wires and cables, and other applications such as medical and consumer goods.
The company operates from a sole manufacturing facility situated in Palghar, Maharashtra. Any localized social unrest, natural disaster, breakdown of services, or production disruption at the manufacturing unit could significantly impact the company's business and financial condition.
The company relies on a limited number of customers for a significant portion of its revenues. Additionally, the absence of long-term arrangements with customers poses a risk, and any failure to maintain existing agreements may negatively impact the business and operational results. Its top 10 customers collectively contributed 87.71% of total sales in FY 2021, 83.41% in FY 22 and 86.49% in FY 23.
The company does not have long-term agreements with its raw material suppliers. The inability to secure the required quality and quantity of raw materials timely and at reasonable costs may adversely affect its business, operational results, financial condition, and cash flows.
The company experienced negative cash flow from operations in FY 22 amounting to Rs. 14.89 cr. Any negative cash flows in the future could adversely affect its results of operations and financial condition.
The company has certain contingent liabilities which if materialized, may adversely affect its business, financial condition, cash flows and results of operation.
The company, its Promoter, and its Directors are involved in certain legal proceedings. Adverse outcomes in these proceedings could negatively impact the company's reputation, business, financial condition, operational results, and cash flows.
The company has outstanding unsecured loans that may be recalled by the lenders at any time. For the period ended September 30, 2023, fiscal year ended March 31, 2023, March 31, 2022, and March 31, 2021, it had outstanding unsecured loans amounting to Rs. 9.96 cr, Rs. 12.53 cr, Rs. 16.25 cr and Rs. 2.43 cr respectively.
Platinum Industries Financials
*All values are in Rs. Cr
No Graph Data To Display
Application Details of Platinum Industries IPO
| Apply as | Price band | Apply Range |
|---|---|---|
| Regular | ₹162 - 171 | Upto ₹2 Lakh |
| High Networth Individual | ₹162 - 171 | ₹2 - 5 Lakh |
For Platinum Industries IPO, eligible investors can apply as Regular.