Hemani Industries IPO
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Last Updated: 04 January 2024 4:38 PM by rahul_raskar
Established in 2005, Hemani Industries Limited produces and markets a variety of agrochemicals and specialty chemicals. The company’s products are used for crop protection (insecticides, herbicides and fungicides) and to make products used for wood protection, veterinary, household and public health applications.
Hemani Industries has an in-house production house for raw materials. It also undertakes research and manufacturing services (CRAMS) and contract manufacturing for Indian domestic and multinational companies in the agrochemical and specialty chemicals industries.
As of FY2021, Hemani Industries exported ITS products to 60+ countries. This includes regions such as Asia Pacific, Latin America, the United States, Russia, Africa and Australia. It is also certified as a “Three Star Export House” by the Directorate General of Foreign Trade, Ministry of Commerce and Industry, Government of India.
Some of the renowned clientele of the company include Alchemie Overseas Ltd., Arysta LifeScience Benelux SRPL, Bayer Vapi Private Limited, Dhanuka Agritech Limited, Jiangsu Yangnong Chemical Co., Ltd., Shandong Rainbow Agrosciences Co. Ltd, Sharda Cropchem Limited, Tagros Chemicals India Pvt. Ltd. and UPL Limited.
Peer Comparison
● Anupam Rasayan India Limited
● Bayer Cropscience Limited
● Bharat Rasayan Limited
● Dhanuka Agritech Limited
● Heranba Industries Limited
● PI Industries Limited
● Rallis India Limited
● Sumitomo Chemical Industries Ltd
● UPL Limited
| Particulars (in Rs. Crores) | FY21 | FY20 | FY19 |
|---|---|---|---|
| Revenue from operations | 1171.92 | 1000.01 | 882.30 |
| EBITDA | 259.44 | 214.77 | 153.13 |
| PAT | 169.41 | 133.46 | 75.98 |
| Particulars (in Rs. Crores) | FY21 | FY20 | FY19 |
|---|---|---|---|
| Total Assets | 996.17 | 848.86 | 658.46 |
| Share Capital | 9.06 | 9.06 | 9.06 |
| Total Borrowings | 396.31 | 419.43 | 363.96 |
| Particulars (in Rs. Crores) | FY21 | FY20 | FY19 |
|---|---|---|---|
| Net cash generated from / (used in) operating activities | 133.59 | 76.10 | 10.82 |
| Net cash from / (used in) investing activities | -69.22 | -68.98 | -49.66 |
| Net cash flow from / (used in) financing activities | -47.10 | -6.02 | 40.55 |
| Net increase (decrease) in cash and cash equivalents | 17.26 | 1.10 | 1.73 |
Strengths
1. The company has leading market positions across our major agrochemical and specialty chemical products.
2. It has a global presence in a market with high entry barriers.
3. The company enjoys a large customer base with long-lasting relationships.
4. It has strong R&D Capabilities.
5. It has achieved operational excellence with a focus on quality and vertical integration.
6. Strong financial performance is a plus point.
7. Experienced Promoters and Senior Management.
Risks
1. The company’s operations are subject to environmental, safety, health and labour laws.
2. It is dependent on a few major customers for revenue.
3. The agrochemicals business is subject to climatic conditions.
4. The company faces competition from both domestic as well as multinational corporations.
5. Exchange rate fluctuations may adversely affect the business.
6. It has substantial working capital and working capital expenditure requirements.
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The IPO size is around ₹2000 cr.
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JM Financial Limited and Kotak Mahindra Capital Company Limited are the book-running lead managers for this IPO.
The proceeds from this public issue will be used for:
● To invest in its subsidiary HCCPL
● To fund working capital requirements.
● To fund working expenditures for the expansion plan.
● To repay borrowings obtained by the company and its subsidiary HCCPL.
● General corporate purpose.
To apply for the IPO, follow the steps given below
● Login to your 5paisa account and select the issue in the current IPO section
● Enter the number of lots and the price at which you wish to apply for the Hemani Industries IPO.
● 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.