IPO Details
Bidding Dates
07 May 24 - 10 May 24
Price Range ₹
52 - 0
Total Equity
₹ 18.11Cr
Lot Size
2000
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
07 May 2024
Offer end
10 May 2024
Allotment
13 May 2024
Refund initiation
14 May 2024
Demat transfer
14 May 2024
Listing
15 May 2024
Offer start
07 May 2024
Offer end
10 May 2024
Allotment
13 May 2024
Refund initiation
14 May 2024
Demat transfer
14 May 2024
Listing
15 May 2024
About Company
Established on May 13, 2016, Silkflex Polymers India Limited specializes in trading textile printing inks and water-based wood coating polymers from Silkflex Polymers SDN BHD, a renowned Malaysian brand. Presently, it offers 108 textile printing ink variants and 51 wood coating polymer options. As of May 1, 2024, the company's registered office is in West Bengal, with five branch offices spread across India: Gujarat, Maharashtra, Tamil Nadu, Rajasthan, and Punjab. Silkflex Polymers India Limited sources its products from Silkflex Polymers Sdn. Bhd. Malaysia, a leading garment printing ink manufacturer. With a cutting-edge thermal reactor, they boast a monthly capacity of 1000 MT. Their market presence spans five Indian states: West Bengal, Tamil Nadu, Punjab, Rajasthan, and Gujarat. As of December 31, 2023, the company maintains a staff of 28 permanent employees across its offices.
Year Founded
13-05-2016
Promotor Details
Promoter Holdings Details
| Particular | Pre-IPO | Post-IPO |
|---|---|---|
| Percentage | 99.84 | 69.89 |
| Share Capital | 8111700 | 8111700 |
Offer to Public
34,82,000.00 Cr
Project Details
- Funding Working Capital Requirements of our Company - 46.8cr
- Acquisition of land - 59.25cr
- Funding of capital expenditure requirements of our Company towardspurchase of Plant and Machineries - 20.78cr
Objectives
- Acquisition of land
- Funding of capital expenditure requirements of our Company towards purchase of Plant and Machineries
- Funding Working Capital Requirements of our Company
- andGeneral corporate purposes.
Highlights
- Silkflex Polymers (India) Limited has demonstrated a steady increase in revenue from operations over the past few years, indicating a strong market demand for its products.
- Despite fluctuating revenue, the company has managed to maintain profitability, with reported profits after tax in consecutive fiscal years. This suggests effective cost management and operational efficiency.
- The agreements with Silkflex Malaysia for the distribution and sale of water-based textile printing inks and wood coating polymer products, along with the right to use the Silkflex brand name in India, provide the company with a competitive edge and access to high-quality products.
- Silkflex products are certified to ZDHC Confidence Level 3, indicating compliance with environmental standards. Additionally, accreditation with Eco-Passport certificate and GOTS version 7.0 demonstrates a commitment to sustainable and organic textile production, enhancing the company's reputation and appeal to eco-conscious consumers.
- The company's presence in multiple Indian states and its ability to distribute and sell Silkflex products in India signify a strong market reach and potential for further expansion, tapping into growing demand for textile printing inks and wood coating polymers.
Challenges
- The involvement of the company's Promoter and Directors in criminal litigations, along with several pending litigations, poses a significant risk to the company's reputation and operational results. Adverse outcomes in these cases could have detrimental effects on the business.
- Silkflex Polymers Sdn. Bhd. (Silkflex Malaysia) is a crucial supplier for the company, providing a substantial portion of its products. Any disruption in the supply chain from Silkflex Malaysia could severely impact the company's performance and profitability.
- Reliance on a small number of top customers for a significant portion of revenue leaves the company vulnerable to the risk of losing business if one or more of these customers choose to source their requirements elsewhere. This concentration increases the company's exposure to fluctuations in customer demand and preferences.
- A significant portion of the company's current assets is tied up in inventories and trade receivables. Poor management of these assets could lead to issues such as decreased sales, reduced profitability, cash flow problems, and liquidity constraints.
- The company's sales are heavily concentrated in specific geographic regions, particularly West Bengal, Tamil Nadu, Punjab, and Gujarat. Dependency on these regions for a significant portion of sales revenue increases the company's vulnerability to adverse economic conditions, regulatory changes, or other regional-specific risks.
Financials
| Years | Total Assets | Share Capital | Profit After Tax | Consolidated Net Profit | Adjusted EPS |
|---|---|---|---|---|---|
| 2024 | 3,88,927.00 | 81,250.00 | 45.35 | 45.35 | 0.6792 |
| 2023 | 2,37,193.00 | 25,000.00 | 45.35 | 45.35 | 0.6792 |
| 2021 | 1,311.67 | 205.45 | 39,292.00 | 39,292.00 | 4.8359 |
| 2022 | 1,965.55 | 250.00 | 45.35 | 45.35 | 0.6792 |
