Sona Machinery IPO

Sona Machinery Limited

₹1,36,000 /1000 sharesMinimum Investment

Sona Machinery IPO Listing Details

Listed OnIssue PriceListing PriceListing Gains
NSE₹143.00₹125.00-₹18.00 (12.59%)

Sona Machinery IPO Details

Bidding DatesMin. InvestmentLot SizePrice Range
5 Mar ‘24 - 7 Mar ‘24₹1,36,0001,000₹136 - ₹143
Issue SizeIPO Doc
51.82Cr
RHP PDF

About Sona Machinery

Sona Machinery Limited is an agro-processing equipment manufacturer. It makes machinery for processing rice, pulses, wheat, spices, barnyard millet, etc. Its product portfolio includes grains pre-cleaner machines, rotary drum cleaner, vibro classifiers, stone separator machines, paddy de-husker, husk aspirator, rice thick/thin grader, rice whitener, silky polisher, multi grader, length Grader, belt conveyer, and bucket elevator. It also undertakes complete projects for rice mills and ethanol distilleries. The company provides services including engineering, erection, supervision, and machine commissioning. It offers end-to-end solutions for the milling section, from grain unloading to milling solutions for ethanol distilleries and paddy unloading to rice packaging for rice mill industries. The company's manufacturing facility is located in Ghaziabad, Uttar Pradesh, with a total area of approximately 52,205 sq. ft. It also has a warehouse for storing raw materials and finished goods.;
Parent Organisation
Sona Machinery Limited
Founded
2019
Managing Director
Mr. Vasu Naren

Strengths & Risks

  • The company has obtained ISO 9001:2015 certification for Quality Management System from Das Systems & Services Pvt. Ltd. Also, the Bureau of Indian Standards (BIS) has certified the company’s Fortified Rice Blending equipment.
  • The company’s revenue is generated from multiple geographical locations across India and from places outside India including Nigeria, Bangladesh, Kenya, Nepal. etc.
  • The company’s product portfolio includes various categories of equipment that are used for material handling, cleaning, blending, grading etc. for processing of various grains.
  • The company’s revenue from operations was Rs. 6.04 cr, Rs. 44.52 cr and Rs. 80.97 cr in FY 2021, 2022 and 2023 respectively. For the same time periods, the company reported Profit after Tax of Rs. 0.28 cr, Rs. 3.26 cr and Rs.7.68 cr respectively.
  • Since the company was incorporated on February 12, 2019, it has a very short operating history.
  • The company operates in the agricultural sector, which is characterized by its seasonal nature. Seasonality may lead to significant fluctuations in the company’s operating results and a potential reduction in sales.
  • The company does not have long-term agreements with suppliers for raw materials. An increase in the cost of or a shortfall in the availability or quality of these raw materials could potentially adversely affect its business, financial condition, and operational results.
  • The company's business heavily relies on its manufacturing unit, and any loss or shutdown of operations at the manufacturing unit could have a material adverse effect on its business, operational results, cash flows, and financial condition.
  • Inventories and trade receivables constitute a significant portion of the company's current assets. Poor management of these assets could negatively impact net sales, profitability, cash flow, and liquidity. As of November 30, 2023, and the fiscal years ending 2023 and 2022, inventories were Rs. 9.53 cr, Rs. 5.27 cr, and Rs. 1.90 cr, respectively.
  • The company has contingent liabilities of Rs. 14.57 cr as on November 30, 2023. If a significant portion of these liabilities materialize, it could have an effect on the company’s results of operations and financial condition.
  • The company, its promoters and directors are parties to certain legal proceedings. Any adverse decision in such proceedings may have a material adverse effect on its business, results of operations and financial condition.

Financials

*All values are in Rs. Cr
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Application details

Apply asPrice bandApply upto
Regular136 - 143₹2 Lakh
High Networth Individual136 - 143₹2 - 5 Lakh
For Sona Machinery IPO, eligible investors can apply as Regular.
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