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Sunlite IPO
Sunlite Recycling Industries Ltd
₹1,20,000 /1200 sharesMinimum Investment
Sunlite IPO Details
| Bidding Dates | Min. Investment | Lot Size | Price Range |
|---|---|---|---|
| 12 Aug ‘24 - 14 Aug ‘24 | ₹1,20,000 | 1,200 | ₹100 - ₹105 |
| Issue Size | IPO Doc |
|---|---|
| 30.24Cr | RHP PDF |
Subscription rate
As of 14 Aug'24, 05:00 PM
| Qualified Institutional Buyers | 0.00x |
| Non-Institutional Investor | 0.00x |
| Retail Individual Investor | 0.00x |
| Total | 255.28x |
About Sunlite
Founded in
2017
Managing director
Mr. Nitin Kumar Heda
Parent organisation
Sunlite Recycling Industries Ltd
Strengths & Financials of Sunlite
Strengths
Risks
Sunlite Recycling Industries’ revenue from operations and profit after tax (PAT) have risen steadily over the last few years. While revenue climbed from Rs 393.88 crore in FY21 to Rs 937.19 crore in FY22 to Rs 1,150.19 crore in FY23, PAT increased from Rs 2.52 crore in FY21 to Rs 4.26 crore in FY22, reaching Rs 5.60 crore in FY23.
The company produces a wide variety of copper products, including copper rods, wires, earthing wires, earthing strips, conductors, and wire bars. This diversity in production allows Sunlite Recycling Industries to meet a broad range of customer needs and industry demands.
The company holds ISO 9001:2015 certification for quality management systems.
Sunlite Recycling Industries' production costs are sensitive to changes in the prices of raw materials, particularly copper scrap. The company does not have long-term supply agreements in place for these crucial materials. For the periods ending December 31, 2023, and FY23, FY22, and FY21, respectively, raw material costs accounted for 96.25%, 97.53%, 97.82%, and 97.54% of revenue from manufacturing activities.
Sunlite Recycling Industries heavily relies on sales in Gujarat. For the nine months ending December 2023 and FY23, FY22, and FY21, Gujarat accounted for 45.03%, 44.58%, 38.11%, and 49.42% of the company's total revenue from operations, respectively. Any adverse developments in this region could negatively impact the company’s business.
Incorporated on August 4, 2022, Sunlite Recycling Industries has a relatively brief history of operations, making it difficult for investors to study its past operations and estimate future prospects.
Sunlite Recycling Industries relies heavily on its top 10 customers for revenue from operations. Any loss of business from these key clients could severely impact the company's revenue and profitability. For the period ending December 31, 2023, and FY23, FY22, and FY21, the top 10 customers contributed 40.19%, 31.22%, 41.96%, and 28.61% of revenue from operations, respectively.
Sunlite Recycling Industries generates its revenue predominantly from the copper rod segment. This is a narrow market for the company, and any challenges, such as failing to upgrade products or a decrease in market demand, could severely impact its growth and revenue prospects.
The company is currently involved in several legal proceedings. Any adverse outcomes in these cases could negatively affect its profitability and cash flows.
As of December 31, 2023, Sunlite Recycling Industries had an indebtedness of Rs 59.68 crore. Any inability to service or repay this debt in time could negatively impact the company’s operations.
Sunlite Financials
*All values are in Rs. Cr
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Application Details of Sunlite IPO
| Apply as | Price band | Apply Range |
|---|---|---|
| Regular | ₹100 - 105 | ₹2 - 5 Lakh |
| High Networth Individual | ₹100 - 105 | ₹2 - 5 Lakh |
For Sunlite IPO, eligible investors can apply as Regular.