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Sadhav Shipping IPO
Sadhav Shipping Limited
₹1,14,000 /1200 sharesMinimum Investment
Sadhav Shipping IPO Details
| Bidding Dates | Min. Investment | Lot Size | Price Range |
|---|---|---|---|
| 23 Feb ‘24 - 27 Feb ‘24 | ₹1,14,000 | 1,200 | ₹95 - ₹95 |
| Issue Size | IPO Doc |
|---|---|
| 38.18Cr | RHP PDF |
About Sadhav Shipping
Founded in
1996
Managing director
Mr. Kamal Kant Biswanath Choudhury
Parent organisation
Sadhav Shipping Limited
Strengths & Financials of Sadhav Shipping
Strengths
Risks
The company has been operating since the year 1996.
The company’s client base includes companies like ONGC Ltd. and BPCL. It also caters to Major Ports such as Mumbai Port.
The company owns and operates 24 vessels, comprising 19 owned and 5 rented vessels of diverse types and sizes across various sectors. Regular surveys of these vessels are conducted by Classification Societies, Mercantile Marine Department, and State Maritime Boards.
The company’s asset base has expanded over the years. In 2021 the company’s total assets were Rs. 61.18 cr. As of September 2023, its total assets were Rs. 131.13 cr.
The company’s revenue from operations was Rs. 60.57 cr, Rs. 69.55 cr, and Rs. 77.81 cr for FY 2021, 2022, and 2023 respectively. Its Profit after Tax was Rs. 3.31 cr, Rs. 3.01 cr, and Rs. 7.75 cr in these time periods.
There are outstanding legal proceedings involving the company. Any adverse outcome of these proceedings could affect the business, financial condition and results of operations.
The company has significant indebtedness that could adversely affect its business and operational results. As of September 30, 2023, the outstanding debt was Rs. 66.82 cr according to the restated financials of the company. Additionally, it has secured outstanding debt of Rs. 47.71 cr as of September 30, 2023, for which, the lenders have charge over its movable and immovable properties.
The company’s top five customers significantly contribute to its revenue, accounting for 64.63% of total revenue as of September 30, 2023. Over the past three financial years (2022-23, 2021-22, and 2020-21), these top customers have contributed 89.57%, 84.09%, and 82.15% to the total revenue, respectively.
The company has obtained unsecured loans totalling Rs. 4.70 cr from its Promoter Directors as of September 30, 2023, with the possibility of recall at any time. A potential recall of these loans by the Promoter Directors could negatively affect the company's cash flows and available finance for business operations.
The company has substantial fixed costs that persist irrespective of business activity levels. Inactivity or low productivity of vessels due to factors like reduced demand or weather disruptions can significantly impact the company's results of operations and financial condition.
Sadhav Shipping Financials
*All values are in Rs. Cr
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Application Details of Sadhav Shipping IPO
| Apply as | Price band | Apply upto |
|---|---|---|
| Regular | ₹95 - 95 | ₹2 - 5 Lakh |
| High Networth Individual | ₹95 - 95 | ₹2 - 5 Lakh |
For Sadhav Shipping IPO, eligible investors can apply as Regular.