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Winsol IPO
Winsol Engineers Ltd
₹1,13,600 /1600 sharesMinimum Investment
Winsol IPO Details
| Bidding Dates | Min. Investment | Lot Size | Price Range |
|---|---|---|---|
| 6 May ‘24 - 9 May ‘24 | ₹1,13,600 | 1,600 | ₹71 - ₹75 |
| Issue Size | IPO Doc |
|---|---|
| 23.36Cr | RHP PDF |
About Winsol
Founded in
2015
Managing director
Mr. Ramesh Jivabhai Pindariya
Parent organisation
Winsol Engineers Ltd
Strengths & Financials of Winsol
Strengths
Risks
As per the company, it has completed over 55 projects, with a cumulative value exceeding Rs. 170 cr. As of the date of the RHP, the company is managing over 41 major ongoing projects with a total value of approximately Rs. 119.5 cr.
The company possesses ISO-9001-2015, ISO-14001-2015, and ISO-45001-2018 certifications.
As per the RHP, the company’s execution capabilities in the areas of design, engineering, procurement, construction and quality assurance, has contributed well to its growth. The company’s management ensures efficient and rapid construction and completion of projects, the RHP added.
The company reported revenue from operations of Rs. 22.16 cr, Rs. 60.70 cr and Rs. 65.39 cr in FY 2021, 2022 and 2023 respectively. This positive growth trajectory is also seen in its Profit after tax which was Rs. 0.49 cr, Rs. 1.08 cr and Rs. 5.18 cr in FY 2021, 2022 and 2023 respectively.
The company has had negative cash flows over the last years – FY2021 (Rs 1.64) cr; FY2022 (Rs 0.36) cr, and FY2023 (Rs 0.93) cr.
The company is heavily dependent on its top 10 customers for business. These customers accounted for 97.96%, 98.30%, 97.75% and 94.11% of total revenue for the periods ending December 31, 2023; March 31, 2023; March 31, 2022, March 31, 2021, respectively.
The company, its promoters and directors are involved in ongoing legal proceedings. Any adverse outcomes in these proceedings could lead to liabilities or penalties, which might negatively impact the company's business and operating results.
The company’s revenues are primarily derived from Gujarat. Any change in the competitive landscape or economic or demographic changes could materially hurt the company’s business operations.
The company depends on a limited number of suppliers for its product purchases, and losing any of them could impact business operations. The top ten suppliers accounted for 56.07%, 57.41%, 65.96%, and 74.60% of the company's total purchases as of December 31, 2023, March 31, 2023, 2022, and 2021, respectively. This reliance on a few key suppliers highlights the need for careful supplier management and diversification to mitigate risks.
As of December 31, 2023, the company's total indebtedness, comprising both short-term and long-term borrowings, stood at Rs. 8.45 cr.
Winsol Financials
*All values are in Rs. Cr
No Graph Data To Display
Application Details of Winsol IPO
| Apply as | Price band | Apply upto |
|---|---|---|
| Regular | ₹71 - 75 | ₹2 - 5 Lakh |
| High Networth Individual | ₹71 - 75 | ₹2 - 5 Lakh |
For Winsol IPO, eligible investors can apply as Regular.