Ramdevbaba Sol. IPO

Ramdevbaba Solvent Ltd

₹1,28,000 /1600 sharesMinimum Investment

Ramdevbaba Sol. IPO Listing Details

Listed OnIssue PriceListing PriceListing Gains
--₹85.00₹112.00₹27.00 (31.76%)

Ramdevbaba Sol. IPO Details

Bidding DatesMin. InvestmentLot SizePrice Range
15 Apr ‘24 - 18 Apr ‘24₹1,28,0001,600₹80 - ₹85
Issue SizeIPO Doc
50.27Cr
RHP PDF

About Ramdevbaba Sol.

Ramdevbaba Solvent Limited manufactures, distributes, and sells Physically refined rice bran oil to FMCG companies such as Mother Dairy Fruit & Vegetable Private Limited, Marico Limited, and Empire Spices and Foods Ltd. The company also manufactures, markets, and sells Rice Bran Oil under its own brands "Tulsi" and "Sehat" through 38 distributors, who, in turn, sell to retailers across Maharashtra. The company also produces De-oiled Rice Bran (DORB), a by-product in the extraction of Rice Bran Oil, and sells it as cattle feed, poultry feed, and fish feed in the states of Maharashtra, Goa, Gujarat, Madhya Pradesh, Andhra Pradesh, Telangana, Karnataka, Kerala, and Tamil Nadu. Furthermore, other by-products such as fatty acid, lecithin, gums, spent earth, and wax are sold in the open market. The company owns and operates two manufacturing facilities, in Mahadula and Bramhapuri, in Maharashtra.;
Parent Organisation
Ramdevbaba Solvent Ltd
Founded
2008
Managing Director
Mr. Nilesh Suresh Mohata

Strengths & Risks

  • The company's manufacturing facilities are situated near Nagpur, Maharashtra. As per the company, this gives it a strategic advantage to supply and distribute rice bran oil in Maharashtra and de-oiled rice bran across various states in India. The company also states that there are various rice mills situated near their manufacturing facilities, ensuring the regular supply of rice bran to them.
  • The company has entered into arrangements with FMCG companies such as Mother Dairy Fruit & Vegetable Private Limited, Marico Limited, and Empire Spices and Foods Ltd for the supply of Rice Bran Oil. Sales to FMCG companies amounted to Rs. 155.29 cr, Rs. 218.16 cr, Rs. 235.59 cr, and Rs. 154.79 cr, contributing 33.50%, 31.27%, 40.42%, and 36.51% of the revenue from operations during the nine-month period ended December 31, 2023, and Fiscals 2023, 2022, and 2021, respectively.
  • The company’s manufacturing facilities encompass three solvent extraction facilities and two oil refinery facilities, with a combined installed capacity of approximately 2,55,000 MTPA and 48,000 MTPA, respectively. These span across an area of 1,28,000 square meters of land.
  • The company reported revenue from operations of Rs. 432.92 cr, Rs. 582.88 cr and Rs. 697.75 cr in FY 2021, 2022 and 2023 respectively. For the same time periods, it reported Profit after tax of Rs. 6.17 cr, Rs. 6.59 cr and Rs. 13 cr respectively.
  • The company derives a significant portion of its revenues from Rice Bran Oil, and any reduction in demand or production of such products could adversely affect its business, results of operations, and financial condition.
  • Majority of the company's revenues are derived from customers located in Maharashtra, Andhra Pradesh, and Uttar Pradesh.
  • The company has availed certain unsecured loans, of which an outstanding amount of Rs. 23.63 cr exists as of March 15, 2024, which may be recalled at any time.
  • While the company plans to diversify into manufacturing and selling of blended oil products, any failure to diversify may impact the business growth.
  • There are outstanding legal proceedings involving the company, its subsidiary, directors, and promoters, which may adversely affect its business, financial condition, and results of operations.
  • The company has not entered into long-term agreements for the supply of raw materials with its suppliers. Therefore, it is subject to uncertainties regarding the supply of raw materials, and there is no assurance that suppliers will continue to sell raw materials as per the company's requirements.

Financials

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

Application details

Apply asPrice bandApply upto
Regular80 - 85₹2 Lakh
High Networth Individual80 - 85₹2 - 5 Lakh
For Ramdevbaba Sol. IPO, eligible investors can apply as Regular.
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