Thaai Casting IPO

Thaai Casting Ltd

₹1,16,800 /1600 sharesMinimum Investment

Thaai Casting IPO Listing Details

Listed OnIssue PriceListing PriceListing Gains
NSE₹77.00₹185.00₹108.00 (140.26%)

Thaai Casting IPO Details

Bidding DatesMin. InvestmentLot SizePrice Range
15 Feb ‘24 - 20 Feb ‘24₹1,16,8001,600₹73 - ₹77
Issue SizeIPO Doc
47.20Cr
RHP PDF

About Thaai Casting

Thaai Casting Ltd is an automotive ancillary company with IATF 16949:2016 certification, specializing in High-Pressure Die Casting and precision Machining of both Ferrous and Non-Ferrous materials and Induction heating and quenching. The company follows a B2B approach and caters to leading companies in the automotive components sector. Founded in 2010, the company’s product portfolio today has a diverse range of automobile components. These include engine mounting support brackets, transmission mounts, fork shift and housing, armature – steering wheel, electrical connectors, YFG base frame (right-hand drive side/left-hand drive side), housing, top cover, etc.;
Parent Organisation
Thaai Casting Ltd
Founded
2010
Managing Director
Mr. Anandan Sriramulu

Strengths & Risks

  • The company uses advanced inspection systems and up-to-date technologies for quality assurance in aluminium die casting and IHQ processes. It carries out thorough scrutiny of each component to ensure precision, durability, and compliance with industry standards.
  • It has demonstrated consistency in its financial performance over the past few years. The company’s revenue from operations was Rs. 20.43 cr, Rs. 38.34 cr and Rs. 48.96 cr in FY 2021, 2022 and 2023 respectively. Similarly, it has also seen positive growth in its Profit after tax in these fiscal years.
  • With a skilled workforce, the company maintains flexibility in handling various project sizes in aluminium die casting and IHQ processes. This adaptability ensures consistent and high-quality results, meeting client demands in both applications.
  • The company has a dedicated team of professionals with substantial experience and skills. This helps in ensuring precision and quality in every aluminum die-casting project.
  • The company relies heavily on specific suppliers for aluminum alloy ingots. Its top ten suppliers constituted 90.69%, 90.44%, 84.69%, and 66.83% of procurement in the seven months ended October 31, 2023, and FY 2023, 2022, 2021, respectively. Any disruptions in the supply chain may lead to operational setbacks, potential customer loss, and financial strain, posing a significant risk to the business and its financial condition.
  • The company's revenue heavily relies on operations in the state of Tamil Nadu, contributing 85.18%, 69.78%, and 69.24% to total revenue for the financial years ended March 31, 2023, 2022, and 2021. Any adverse developments, changes in government policy, economic volatility, or market uncertainties in Tamil Nadu could adversely impact the business, leading to potential financial strain and operational challenges.
  • The company currently faces outstanding demands under the Income Tax Act and TDS defaults. In the assessment year 2018, an outstanding demand of Rs 0.07 cr persists, and there are pending TDS defaults amounting to Rs 0.32 cr. There are no provisions for these contingent liabilities.
  • The company is involved in outstanding legal proceedings, and any adverse decision in these cases may significantly impact its business, operational results, and financial condition.
  • The company has unsecured loans totalling Rs. 1.40 cr and Rs. 3.34 cr outstanding for the financial year ended March 31, 2023, and the period ended October 31, 2023. Repayment demands from these lenders could pose challenges in securing alternative financing, impacting working capital for projects and potentially adversely affecting the business, financial condition, and results of operations.

Financials

*All values are in Rs. Cr
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Application details

Apply asPrice bandApply upto
Regular73 - 77₹2 Lakh
High Networth Individual73 - 77₹2 - 5 Lakh
For Thaai Casting IPO, eligible investors can apply as Regular.
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