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Silkflex IPO
Silkflex Polymers (India) Ltd
₹1,04,000 /2000 sharesMinimum Investment
Silkflex IPO Details
| Bidding Dates | Min. Investment | Lot Size | Price Range |
|---|---|---|---|
| 7 May ‘24 - 10 May ‘24 | ₹1,04,000 | 2,000 | ₹52 - ₹52 |
| Issue Size | IPO Doc |
|---|---|
| 18.11Cr | RHP PDF |
About Silkflex
Founded in
2016
Managing director
Mr. Tushar Lalit Kumar Sanghavi
Parent organisation
Silkflex Polymers (India) Ltd
Strengths & Financials of Silkflex
Strengths
Risks
The company entered into an agreement with Silkflex Malaysia on October 1, 2016, for the distribution and sale of its water-based textile printing inks. Additionally, Silkflex secured an agreement with Silkflex Malaysia on October 1, 2019, to distribute and sell its wood coating polymer products. These agreements also grant Silkflex the rights to use the Silkflex brand name in India.
Silkflex products are certified to ZDHC Confidence Level 3 (Zero Discharge of Hazardous Chemicals).
Silkflex products are manufactured in the plants of Silkflex Polymers Sdn. Bhd., Malaysia. The company has the right to distribute and sell in India.
Silkflex products are accredited with Eco-Passport certificate issued by Oeko-Tex® and GOTS-version 7.0 (Global Organic Textile Standard) certificate
The company reported a consistent rise in revenue from operations with Rs. 20.75 cr in FY 2021, Rs. 27.82 cr in FY 2022 and Rs. 34.21 cr in FY 2023. It reported Profit after tax of Rs. 0.61 cr, Rs. 0.92 cr and Rs. 1.08 cr in FY 2021, 2022 and 2023 respectively.
Silkflex's Promoter and Directors are facing certain criminal litigations. Apart from this, the company faces several pending litigations, and an unfavorable outcome in any of these cases could negatively impact its business, reputation, and operational results. Any adverse outcome of these litigations could harm the company's reputation, potentially affecting its business, operations, and financial condition.
The company’s business operations rely significantly on the continuous and timely supply of products from Silkflex Polymers Sdn. Bhd. ("Silkflex Malaysia"). It accounted for 74.86%, 96.04%, 97.81%, and 96.48% of the company's total purchases for the period ended December 31, 2023, and the financial years ended March 31, 2023, 2022, and 2021, respectively. If this supply is disrupted, it could severely impact the company’s performance and profitability.
The company's top ten customers contribute a significant portion of its operating revenue. Its top 10 customers made for 82%, 83% and 80% of the total revenue from operations in FY 2021, 2022 and 2023 respectively. If one or more of these customers decide to source their requirements elsewhere, the company's business, financial condition, and operational results could be negatively impacted.
The company's inventories and trade receivables constitute a significant portion of its current assets. If these are not managed properly, it could negatively affect the company's sales, profitability, cash flow, and liquidity.
The company derives a significant portion of its sales from operations in specific geographic regions, particularly West Bengal, Tamil Nadu, Punjab, and Gujarat.
Silkflex Financials
*All values are in Rs. Cr
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Application Details of Silkflex IPO
| Apply as | Price band | Apply Range |
|---|---|---|
| Regular | ₹52 - 52 | ₹2 - 5 Lakh |
| High Networth Individual | ₹52 - 52 | ₹2 - 5 Lakh |
For Silkflex IPO, eligible investors can apply as Regular.