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Shree Tirupati Balajee Agro IPO
Shree Tirupati Balajee Agro Trading Co. Ltd
₹14,040 /180 sharesMinimum Investment
Shree Tirupati Balajee Agro IPO Details
| Bidding Dates | Min. Investment | Lot Size | Price Range |
|---|---|---|---|
| 5 Sep ‘24 - 9 Sep ‘24 | ₹14,040 | 180 | ₹78 - ₹83 |
| Issue Size | IPO Doc |
|---|---|
| 169.65Cr | RHP PDF |
Subscription rate
As of 09 Sep'24, 06:00 PM
| Qualified Institutional Buyers | 150.87x |
| Non-Institutional Investor | 209.88x |
| Retail Individual Investor | 71.68x |
| Total | 123.92x |
About Shree Tirupati Balajee Agro
Founded in
2001
Managing director
Mr. Binod Kumar Agarwal
Parent organisation
Shree Tirupati Balajee Agro Trading Co. Ltd
Strengths & Financials of Shree Tirupati Balajee Agro
Strengths
Risks
The company's manufacturing units I and II are ISO 9001:2015 certified for quality management systems and ISO 22000:2018 certified for food safety management systems. Unit III holds ISO 9001:2015, ISO 14001:2015, ISO 45001:2018, ISO 22000:2018, and SEDEX SMETA four-pillar certifications.
The company's products are sold pan-India and exported to 38 countries.
Shree Tirupati Balajee performs various strength tests, including tensile testing, UV testing, surface resistibility testing in Type C, rig testing for the performance of FIBC bags, and drop testing.
The company has seen a consistent increase in revenue from operations and profit after tax (PAT). Revenue from operations increased from Rs 444.18 crore in FY22 to Rs 475.43 crore in FY23 to Rs 539.66 crore in FY24. PAT increased from Rs 13.66 crore in FY22 to Rs 20.72 crore in FY23 to Rs 36.07 crore in FY24.
The company’s manufacturing facilities are all located in Pithampur, Madhya Pradesh. Any adverse developments in this geographical region can disrupt the functioning of these units and hurt the company’s business prospects.
The world is increasingly becoming aware of the negative consequences of using plastic products. This has led to several countries banning plastic. If a similar scenario arises in India too, the company’s business would be adversely affected.
The name of the company may give the wrong impression that it operates in the agriculture sector. This can confuse and mislead investors.
The company relies on polypropylene granules, low-density polypropylene (LDPE), and high-density polyethylene (HDPE) of various grades as primary raw materials. Significant fluctuations in crude oil prices, which affect polymer prices, along with risks associated with foreign exchange movements during polymer imports, could negatively impact the company’s finances.
A major portion of the company’s domestic revenue is generated from the western zone of India. This zone contributed Rs 257.99 crore (93.81%), Rs 153.60 crore (90.06%), and Rs 50.87 crore (73.61%) in FY24, FY23, and FY22, respectively, to revenue from operations. Any decrease in demand or adverse developments in these areas could negatively impact the company’s finances.
As of May 31, 2024, Shree Tirupati Balajee had outstanding borrowings of Rs 245.33 crore. Any inability to service or repay these loans could adversely affect the company’s business.
The company’s revenue from operations is largely dependent on one segment, flexible intermediate bulk containers (FIBCs). It contributed Rs 277.74 crore (51.47%), Rs 322.79 crore (67.89%), and Rs 347.80 crore (78.03%) in FY24, FY23, and FY22, to the revenue from operations, respectively. Any disruptions or loss of business from this market segment could negatively impact the company’s financial performance.
Shree Tirupati Balajee Agro Financials
*All values are in Rs. Cr
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Application Details of Shree Tirupati Balajee Agro IPO
| Apply as | Price band | Apply Range |
|---|---|---|
| Regular | ₹78 - 83 | Upto ₹2 Lakh |
| High Networth Individual | ₹78 - 83 | ₹2 - 5 Lakh |
For Shree Tirupati Balajee Agro IPO, eligible investors can apply as Regular.