IPO Details
Bidding Dates
22 Oct 24 - 24 Oct 24
Price Range ₹
56 - 59
Total Equity
₹ 30.00Cr
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
22 Oct 2024
Offer end
24 Oct 2024
Allotment
25 Oct 2024
Refund initiation
28 Oct 2024
Demat transfer
28 Oct 2024
Listing
29 Oct 2024
Offer start
22 Oct 2024
Offer end
24 Oct 2024
Allotment
25 Oct 2024
Refund initiation
28 Oct 2024
Demat transfer
28 Oct 2024
Listing
29 Oct 2024
About Company
Incorporated in January 1995, United Heat Transfers Limited specializes in manufacturing critical equipment such as heat exchangers, pressure vessels, and process flow skids. These products serve a variety of applications, including petrol and diesel engines, maritime vessels, mining trucks, and heavy machinery. The company operates two advanced manufacturing facilities in Nashik, equipped with modern technology and infrastructure that improve productivity and efficiency. As of July 31, 2024, United Heat Transfers Limited has a workforce of approximately 105 employees on its payroll and an additional 127 contractual employees. Competitive Strengths: - A diverse customer base across multiple continents strengthens the company’s global presence, reducing dependence on any single market. - A knowledgeable and skilled workforce ensures efficient production and timely delivery of high-quality products. - Strict adherence to industry standards guarantees reliability and product quality for customers. - Strategically positioned distribution channels and facilities enhance customer accessibility and convenience, increasing the company’s reach and sales potential.
Year Founded
27-01-1995
Promotor Details
Yogesh Vishwanath Patil
Promoter Holdings Details
| Particular | Pre-IPO | Post-IPO |
|---|---|---|
| Percentage | 91.59 | 67.09 |
| Share Capital | 12750000 | 12750000 |
Offer to Public
50,84,000.00 Cr
Project Details
- To Meet Incremental Working Capital Requirements - 140cr
- Repayment of Debt - 57.338cr
Objectives
- Repayment of Debt
- To Meet Incremental Working Capital Requirements
- General Corporate Purpose.
Highlights
- The company adheres to a wide range of recognized standards, including TEMA, ASME Section VIII Div. 1 & 2, API 660 and 661, and NES standards, ensuring high-quality, industry-compliant products.
- United Heat Transfers holds ISO 9001:2015 for quality management, ISO 14001:2015 for environmental management, ISO 45001:2018 for occupational health and safety, as well as ASME 'U', 'R', and 'NB' Stamps. These certifications demonstrate a commitment to high standards in product design, inspection, and safety.
- The company’s modern infrastructure, equipped with cutting-edge technology and machinery, enhances production efficiency and product quality.
- With an HTRI certification, the company is recognized for its expertise in heat exchanger design and analysis, boosting its credibility in the industry.
- United Heat Transfers has shown a steady increase in profitability, with PAT rising from Rs 1.53 crore in FY22 to Rs 6.24 crore in FY24, indicating financial strength and business growth.
Challenges
- A significant portion of the company's sales comes from a small number of major customers. The top five contributed 79.25% of total sales as of July 31, 2024. Losing any of these clients or a reduction in demand could severely impact revenue.
- The company is dependent on sales from a few states, such as Maharashtra, Gujarat, Tamil Nadu, Karnataka, and Andhra Pradesh, which together contributed 94.66% of total revenue as of July 31, 2024. Any adverse changes in these states’ business environments could negatively affect sales.
- United Heat Transfers’ export business is concentrated in just five countries—France, Holland, Poland, the United States, and the Netherlands. Any disruptions in these regions could hinder international sales and growth opportunities.
- The company’s operations rely on its manufacturing facilities in Nashik, Maharashtra. Any disruptions or operational issues at these facilities could have a significant negative impact on production and overall performance.
- The company, along with its promoters, directors, and group companies, is involved in various legal proceedings. Any adverse outcomes from these legal issues could harm the company’s business prospects and financial health.
Financials
| Years | Total Assets | Share Capital | Profit After Tax | Consolidated Net Profit | Adjusted EPS |
|---|---|---|---|---|---|
| 2022 | 6,262.36 | 425.00 | 211.54 | 211.54 | 1.6591 |
| 2023 | 6,481.52 | 425.00 | 623.85 | 623.85 | 4.8929 |
| 2024 | 7,046.67 | 1,275.00 | 211.54 | 211.54 | 1.6591 |
