IPO Details
Bidding Dates
21 Oct 24 - 23 Oct 24
Price Range ₹
46 - 49
Total Equity
₹ 0.00Cr
Lot Size
3000
Exchange Status
NSE
IPO Doc
Subscription Rate
Non-Institutional Investor
0.00×
Qualified Institutional Buyers
0.00×
Employees
0.00×
Retail Investors
0.00×
Total subscription Rate
0.00×
IPO Timeline
Offer start
21 Oct 2024
Offer end
23 Oct 2024
Allotment
24 Oct 2024
Refund initiation
25 Oct 2024
Demat transfer
25 Oct 2024
Listing
28 Oct 2024
Offer start
21 Oct 2024
Offer end
23 Oct 2024
Allotment
24 Oct 2024
Refund initiation
25 Oct 2024
Demat transfer
25 Oct 2024
Listing
28 Oct 2024
About Company
Premium Plast Limited, founded in 1995, specializes in designing, manufacturing, and supplying exterior, interior, and hood plastic parts directly to commercial vehicle manufacturers. The company produces a wide range of injection and blow-moulded plastic parts for various industries and applications. Its product portfolio includes automotive parts, industrial plastic components, and packaging items used across different sectors. Premium Plast is particularly focused on automotive components, manufacturing over 600 parts at its three advanced, strategically located facilities in India. The company operates three manufacturing units—two in Pithampur, Madhya Pradesh, and one in Vasai, Maharashtra—with a combined production capacity of 1,975 MTPA. Competitive advantages include: - Long-standing relationships with established customers, with potential for customer base expansion - A diverse range of specialized plastic products catering to different customer needs - Strong capabilities in design optimization - Sustainable business development practices - Existing relationships with both customers and suppliers - Strategically located production facilities - Adherence to quality standards and rigorous quality inspections - A team of experienced promoters and management As of June 30, 2024, the company employed 39 people.
Year Founded
14-11-1995
Promotor Details
Promoter Holdings Details
| Particular | Pre-IPO | Post-IPO |
|---|---|---|
| Percentage | 95.45 | 0 |
| Share Capital | 13125100 | 0 |
Project Details
- Funding of capital expenditure requirement of our Company towards Set up of Rooftop - 10.44cr
- Prepayment or repayment of all or a portion of certain outstanding borrowings availed - 22.31cr
- Expansion of Existing Manufacturing facility at Pithampur, Madhya Pradesh and - 165.54cr
Objectives
- Expansion of Existing Manufacturing facility at Pithampur, Madhya Pradesh and Purchase of Machineries.Funding of capital expenditure requirement of our Company towards Set up of Rooftop on Grid Solar Power,Plant at our existing Manufacturing facility.Prepayment or repayment of all or a portion of certain outstanding borrowings availed by our Company.General Corporate Purpose.Offer Related Expenses.
Highlights
- The company holds prestigious certifications, including IATF-16949 for specialized plastic components, ISO 9001:2015 for quality management, and ISO 14001:2004 for environmental management, demonstrating its commitment to high-quality production and sustainability.
- Premium Plast operates three strategically located manufacturing units with a combined capacity of 1,975 MTPA, equipped for specialized plastic injection and blow moulding, ensuring efficient production.
- The company's commitment to sustainable practices has resulted in its facilities achieving 'zero-discharge' status, eliminating environmental waste and promoting eco-friendly operations.
- Premium Plast conducts rigorous tests, including load, fatigue, vibration, endurance, and chemical resistance tests, ensuring its products meet high industry standards for safety, durability, and compliance.
- The company has seen a steady increase in both revenue and profit, with revenues rising from Rs 30.99 crore in FY22 to Rs 46.71 crore in FY24, and PAT growing from Rs 0.78 crore in FY22 to Rs 4.77 crore in FY24, reflecting strong financial performance.
Challenges
- A significant portion of the company's revenue, particularly 84.61% for the period ending June 30, 2024, is reliant on a single client, VE Commercial Vehicles Limited. The absence of firm commitments from major clients increases the risk of revenue loss if business from these clients decreases.
- The top 10 customers contributed over 97% of the company’s revenue for FY22, FY23, and FY24, making it highly dependent on a small group of clients. Any loss of these clients could have a major impact on the company's financial health.
- The automotive moulding products division accounts for the majority of revenue (84% in FY24). This heavy reliance on one business segment leaves the company vulnerable to disruptions or downturns in this specific market.
- All of Premium Plast's manufacturing facilities are located in Maharashtra and Madhya Pradesh. Any adverse changes in the business environment, policies, or disruptions in these regions could severely impact production and financial performance.
- The company’s success is closely tied to the performance of the Indian passenger vehicle market. Any downturns or negative shifts in this market could adversely affect Premium Plast’s revenue and overall business operations.
Financials
| Years | Total Assets | Share Capital | Profit After Tax | Consolidated Net Profit | Adjusted EPS |
|---|---|---|---|---|---|
| 2024 | 3,809.23 | 476.06 | 477.55 | 477.55 | 5.0156 |
| 2023 | 2,905.46 | 476.06 | 77.70 | 77.70 | 0.8161 |
| 2022 | 2,516.95 | 476.06 | 477.55 | 477.55 | 5.0156 |
