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Solve IPO
Solve Plastic Products Ltd
₹1,09,200 /1200 sharesMinimum Investment
Solve IPO Details
| Bidding Dates | Min. Investment | Lot Size | Price Range |
|---|---|---|---|
| 13 Aug ‘24 - 16 Aug ‘24 | ₹1,09,200 | 1,200 | ₹91 - ₹91 |
| Issue Size | IPO Doc |
|---|---|
| 11.85Cr | RHP PDF |
About Solve
Founded in
1994
Managing director
Mr. Sudheer Kumar Balakrishnan Nair
Parent organisation
Solve Plastic Products Ltd
Strengths & Financials of Solve
Strengths
Risks
Solve Plastic Products is ISO 9001:2015 certified for quality management systems. The company also holds Bureau of Indian Standards’ (BIS) 4985:2021, 3419:1988, and 9537:Part 3:1983 certifications.
The company’s products are approved by several major governmental organisations, including the Central Public Works Department (CPWD) in Chennai and Kochi, Military Engineer Services (MES), Integral Coach Factory, and the Public Works Department (PWD) of Kerala and Tamil Nadu, along with the Tamil Nadu Housing Board.
The company operates four manufacturing facilities that have state-of-the-art research and development (R&D) labs.
Solve Plastic Products has seen a consistent increase in revenue from operations, which increased from Rs 41.72 crore in FY21 to Rs 55.06 crore in FY22 and Rs 60.77 crore in FY23.
Solve Plastic Products, along with its directors, promoters, and affiliated companies, is involved in several legal proceedings. Any adverse judgments in these cases could negatively impact the company's business performance.
For the period ending December 31, 2023, and FY23, FY22, and FY21, the company’s top 10 customers contributed 58.96%, 54.44%, 51.79%, and 52.19%, respectively, to revenue from operations. Any loss of these key customers or slowdown in business from them could affect the company's operations and profitability.
The company’s revenue is predominantly generated from a single market segment: PVC Pipe & Electrical Conduit. Any decline in market demand, inability to keep pace with technological advancements, or failure to maintain product quality could negatively affect its business prospects.
The company has recorded financial losses in the years 2021-22 and 2020-21, amounting to Rs 0.41 crore and Rs 0.15 crore, respectively. Losses in the future could prove to be detrimental to the company’s business prospects.
On December 31, 2023, Solve Plastic Products reported a total indebtedness of Rs 11.90 crore. Any inability to service or repay these loans on time could negatively impact the company’s business.
Solve Financials
*All values are in Rs. Cr
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Application Details of Solve IPO
| Apply as | Price band | Apply Range |
|---|---|---|
| Regular | ₹91 - 91 | ₹2 - 5 Lakh |
| High Networth Individual | ₹91 - 91 | ₹2 - 5 Lakh |
For Solve IPO, eligible investors can apply as Regular.