United Heat Transfer IPO

United Heat Transfer Ltd

₹1,12,000 /2000 sharesMinimum Investment

United Heat Transfer IPO Listing Details

Listed OnIssue PriceListing PriceListing Gains
--₹59.00₹60.95₹1.95 (3.31%)

United Heat Transfer IPO Details

Bidding DatesMin. InvestmentLot SizePrice Range
22 Oct ‘24 - 24 Oct ‘24₹1,12,0002,000₹56 - ₹59
Issue SizeIPO Doc
30.00Cr
RHP PDF

Subscription rate

As of 24 Oct'24, 04:00 PM
Qualified Institutional Buyers0.00x
Non-Institutional Investor0.00x
Retail Individual Investor0.00x
Total45.36x

About United Heat Transfer

United Heat Transfer manufactures shell and tube heat exchangers, air-cooled heat exchangers, pressure vessels, and process flow skids. These products find applications in petrol and diesel engines, railway engines, maritime engines, and various vessels and vehicles such as cruise and cargo ships, ferries, pleasure boats, marine diesel, mining trucks, mega yachts, heavy trucks, freighters, trawlers, heavy haulages, power generation sets, supertankers, and off-highway engines. The company’s product line also consists of engine jacket water heat exchangers with expansion tanks, marine heat exchangers, and moisture separators, among others. The company operates two manufacturing facilities located in Nashik, Maharashtra.;
Founded in
1995
Managing director
Mr. Yogesh Vishwanath Patil
Parent organisation
United Heat Transfer Ltd

Strengths & Financials of United Heat Transfer

Strengths
Risks
United Heat Transfer claims that the company produces heat transfer equipment that complies with multiple industry standards, including TEMA (Tubular Exchanger Manufacturers Association), ASME Section VIII Div. 1 and Div. 2 for unfired pressure vessels, API 660 and 661, and NES standards.
The company is ISO 9001:2015 certified for quality management systems, ISO 14001:2015 certified for environmental management systems, and ISO 45001:2018 certified for occupational health and safety management systems. It is also accredited with the ASME ‘U’ Stamp, ‘R’ Stamp, and ‘NB’ Stamp for the design, inspection, fabrication, and repair of heat exchangers and pressure vessels, along with an HTRI certification for heat exchanger design and analysis.
United Heat Transfer claims that the company’s manufacturing capabilities are supported by a modern infrastructure that includes cutting-edge technology and machinery, which enhances both productivity and efficiency.
The company has recorded a consistent rise in profit after tax (PAT) over the last few years. PAT increased from Rs 1.53 crore in FY22 to Rs 2.11 crore in FY23 to Rs 6.24 crore in FY24.
A significant portion of the company’s sales are derived from a few customers. The top 5 contributed 79.25%, 67.65%, 55.28%, and 63.48% as of July 31, 2024, and for FY24, FY23, and FY22, respectively, to the total sales. Any loss of these major customers, a decrease in demand from them, or a failure to retain them can adversely impact the company's sales.
United Heat Transfer is also dependent on a few states for the company’s sales operations. These states include Maharashtra, Gujarat, Tamil Nadu, Karnataka, and Andhra Pradesh. They contributed 94.66%, 91.16%, 83.22%, and 88.27% to the revenue from the total sales generated as of July 31, 2024, and FY24, FY23, and FY22, respectively. Any adverse developments in the business environment of these states could hurt the company’s revenue generation capabilities.
The company’s export sales are concentrated in 5 countries, namely France, Holland, Poland, the United States, and the Netherlands. These countries accounted for 4.72%, 8.84%, 6.21%, and 8.75% of the revenue of total sales generated as of July 31st, 2024, and FY24, FY23, and FY22, respectively. Any disruption in the business environment of these countries could hinder the company's operations.
United Heat Transfer's operations are dependent on its manufacturing facilities located in Nashik, Maharashtra. Any disruptions at the facilities could negatively affect the company’s operations and financial performance.
The company, along with its promoters, directors, and group companies, are involved in certain legal proceedings. Any adverse judgment in any of these cases can be detrimental to the company’s business prospects.
As of July 31, 2024, the company had financial indebtedness of Rs 32.02 crore (short-term and long-term borrowings). Any inability to service or repay these loans on time could adversely affect the company’s financial standing.

United Heat Transfer Financials

*All values are in Rs. Cr
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Application Details of United Heat Transfer IPO

Apply asPrice bandApply upto
Regular56 - 59₹2 - 5 Lakh
High Networth Individual56 - 59₹2 - 5 Lakh
For United Heat Transfer IPO, eligible investors can apply as Regular.