Gujarat Polysol Chemicals IPO
IPO Synopsis
Gujarat Polysol Chemicals has filed its preliminary papers with Securities and Exchange Board of India (SEBI) to raise funds worth Rs.414 crores via Initial Public Offer (IPO). The offer comprises a fresh issue of up to Rs.87 crore and an offer for sale of equity shares of up to Rs.327 crore by the selling shareholders. There will be no pre-IPO placement for this issue.
INGA Ventures is the sole book running lead manager for the IPO.
Objective of Gujarat Polysol Chemicals
The company proposes to utilise the net proceeds towards
1. funding repayment or pre-payment, in full or in part, of all or certain borrowings availed by the company
2. for general corporate purposes
About Gujarat Polysol Chemicals
The company is among the leading suppliers of dispersing agents in the Infra-tech, dye and pigments, and textile and leather industries and a leading supplier of powder surfactants in India.
It is also amongst the leading manufacturers of poly carboxylate ether (PCE) liquid in India and one of the few manufacturers of PCE powder globally and the only manufacturer of PCE powder in India.
The wide range of chemicals and intermediates that it manufactures can be classified, based on the end use industry (Application Industries and each an application industry), as follows:
1. Infra-tech (construction) chemicals
2. Agro-chemicals (pesticide formulations)
3. Dyes, pigments and textile chemicals
4. Leather chemicals
The company manufactures an aggregate of 130 products (in liquid and powder forms) including sulphonated naphthalene formaldehyde, sulphonated melamine formaldehyde, sulphonated acetone formaldehyde, cellulose nanofibers, alkyl aryl sulphonate and acrylic syntans.
The company has 3 Manufacturing Facilities, located in Vapi and Sarigam in the State of Gujarat and a unit located in the Union Territory of Dadra & Nagar Haveli and Daman and Diu.
Gujarat Polysol Chemicals Financial Status
Profit and Loss
Balance Sheet
| Particulars (in Rs. Crores) | FY21 | FY20 | FY19 |
|---|---|---|---|
| Revenue | 379.6 | 440.5 | 438.8 |
| EBITDA | 64.3 | 38.7 | 64.3 |
| PAT | 39.8 | 20.2 | 12.8 |
| Particulars (in Rs. Crores) | FY21 | FY20 | FY19 |
|---|---|---|---|
| Total Assets | 314.5 | 266.5 | 273.5 |
| Shareholder's Fund | 4.0 | 2.6 | 2.6 |
| Total Liabilities | 77.1 | 69.4 | 78.2 |
| Particulars (in Rs. Crores) | FY21 | FY20 | FY19 |
|---|---|---|---|
| Net cash generated from / (used in) operating activities | 9.6 | 28.0 | 16.7 |
| Net cash from / (used in) investing activities | -13.3 | -10.4 | -11.9 |
| Net cash flow from / (used in) financing activities | 3.3 | -17.1 | -6.2 |
| Net increase (decrease) in cash and cash equivalents | -0.5 | 0.5 | -1.4 |
Peer Comparison
| Name of the company | Total Revenue (in Rs. crores) | Basic EPS | NAV Rs. per share | PE | RoNW % |
|---|---|---|---|---|---|
| Gujarat Polysol Chemicals Limited | 379.61 | 20.98 | 65.5 | NA | 32.02% |
| Himadri Speciality Chemicals Ltd | 1,679.46 | 1.13 | 42.78 | 36.86 | 2.64% |
| BASF India Limited | 9,558.34 | 127.7 | 404.06 | 16.21 | 31.06% |
Key Points
-
Strengths
1. Strong and diversified customer base and has established long term relationships with various Swiss, US and German multinational and domestic companies
2. Greatly rely on constant R&D for developing or innovating new formulations or products
3. Extensive manufacturing capabilities of products with stringent quality norms and procedures -
Risks
1. The loss of one or more of our significant customers or a significant reduction in production and sales of, or demand for our production from our significant customers
2. The availability of raw materials on commercially acceptable terms
3. Adverse change(s) in government policies, in particular, policies pertaining to import of raw materials that are used in our business or products manufactured by us
4. Any downturn in one or more of industries / sectors to which we cater;
5. Absence of any firm commitment long-term agreements with our customers
How to apply for an IPO?
-
Login to your 5paisa account and select the issue in the
current IPO section -
Enter the number of lots and price at which you wish to
apply for -
Enter your UPI ID and click on submit. With this, your
bid will be placed with the exchange -
You will receive a mandate notification to block funds in
your UPI app -
Approve the mandate request on your UPI and funds
will be blocked
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FAQs
Gujarat Polysol Chemicals IPO details are yet to announced
Gujarat Polysol Chemicals IPO details are yet to announced
Gujarat Polysol Chemicals IPO details are yet to announced
The fresh issue comprises fresh issue of up to Rs.87 crore and an offer for sale of equity shares of up to Rs.327 crore by the selling shareholders.
Gujarat Polysol Chemicals Ltd is promoted by Shaileshkumar Balvantrai Desai and Umang Shailesh Desai.
Gujarat Polysol Chemicals IPO details are yet to announced
Gujarat Polysol Chemicals IPO details are yet to announced
INGA Ventures is the sole book running lead manager for the Gujarat Polysol Chemical IPO.
The proceeds will be used:
1. funding repayment or pre-payment, in full or in part, of all or certain borrowings availed by the company
2. for general corporate purposes
To apply for the IPO, follow the steps given below
1. Login to your 5paisa account and select the issue in the current IPO section
2. Enter the number of lots and price at which you wish to apply for
3. Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange
4. You will receive a mandate notification to block funds in your UPI app
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