Uma Exports IPO

Uma Exports Ltd.

₹14,300 /220 sharesMinimum Investment

Uma Exports IPO Listing Details

Listed OnIssue PriceListing PriceListing Gains
BSE & NSE₹68.00₹76.00₹8.00 (11.76%)

Uma Exports IPO Details

Bidding DatesMin. InvestmentLot SizePrice Range
28 Mar ‘22 - 30 Mar ‘22₹14,300220₹65 - ₹68
Issue SizeIPO Doc
60.00Cr
RHP PDF

Subscription Status As on 30 Mar '22, 5:00 PM

  • Retail Individual Investor
    10.11x
  • Non-Institutional Investor
    2.22x
  • Qualified Institutional Buyers
    2.81x
  • Total
    7.67x

About Uma Exports

UMA Exports is a company dealing in agricultural products, sourced from various parts of India for export and various parts of the world for import. The company was initially engaged in the business of exporting building materials i.e. marble, granite, marble chips, and other construction materials to Bangladesh. The company then diversified from exporting building materials to exporting agricultural produce and commodities in the year 1997. Since then, the company has been engaged in exporting agricultural produce and commodities including rice, wheat, sugar, and spices. ;
Parent Organisation
Uma Exports Ltd.
Founded
1988
Managing Director
Rakesh Khemka

Strengths & Risks

  • Strong presence in agro commodities trading segment
  • Restated profits of Rs 12.18 crores, Rs 8.33 crores, and Rs 2.89 crores for fiscal 2021, 2020, and 2019 respectively.
  • Total revenue from operations has grown at a CAGR of 51.10% from Fiscals 2019 to 2021.
  • EBITDA has grown at a CAGR of 52.76% from Fiscals 2019 to 2021.
  • Repeat orders from several prominent clients.
  • Setting up a procurement office in Australia to save costs like freight and import duties.
  • Economies of scale through vessel load procurement as compared to a container.
  • In the financial years 2021, 2020, and 2019, exports constituted 9.53%, 5.42%, and 37.64% respectively of total income.
  • The company is in violation of the provisions of the Foreign Exchange Management Act, 1999 - it acquired 100% shareholding of U.E.L International FZE without getting the mandatory prior approval from the RBI.
  • The company had incorporated a foreign wholly-owned subsidiary, Uma Exports Pte Ltd. in Singapore (“Singapore WOS”) on January 17, 2019, but failed to intimate the Reserve Bank of India (RBI) about the incorporation.
  • The company had failed to obtain registration under the Employees’ State Insurance Act, 1948 (ESI Act) in the past - violating the provisions of the ESI Act and the rules thereunder and may be subject to fines and penalties.
  • The company is required to consolidate the financial statements of U.E.L. International FZE (subsidiary) but it has filed its’ standalone financial statements only and has failed to file the consolidated financial statements from the fiscal year 2015 till 2020 with Registrar of Companies (RoC)).
  • Some of the company’s corporate records relating to changes in the share capital are not traceable.
  • The company has limited records of bank documents relating to certain share allotments made by it.
  • Dependence on a few customers for a significant portion of revenue.
  • ​​Some of the group companies are engaged in the line of business that is the same or similar to that of UMA Exports - there are no non-compete agreements between the company and such entities.
  • One of the group companies, namely Agrocomm Trading Company Private Limited, has incurred loss in the past.
  • Global scope of operations exposes the company to the risks of doing business in foreign countries.
  • Dependence on third-party transportation service providers for delivery of agricultural produce or commodities.
  • The company benefits from certain export benefits from the Government of India, which if withdrawn or modified may have a significant impact on its operations.
  • Total debt outstanding of Rs 42.14 crores comprising of secured working capital loans and unsecured loans, as of March 31, 2021.

Financials

*All values are in Rs. Cr
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