Manorama Industries is engaged in the business of manufacturing, processing, and supply of exotic and specialty fats & oils. The products which are manufacturing this company like Sal butter, Sal fat, Sal oil, Sal Stearine, Sal olein, Mango butter, Mango fat, Mango oil, Mango Stearine, Kokum butter, Kokum oil, Mowrah fat, and value is added tailor-made products. The content will cover up each detail regarding the company’s background as well as financials. All these data are necessary for analyzing Manorama Industries IPO Review. Hence, without any delay let’s begin with the issue detail of the company.
About Manorama Industries IPO Review Issue Details :
- IPO Opens on – September 21, 2018.
- IPO Closes on – September 25, 2018.
- Issue Price – Rs. 181- Rs. 188 Per Equity Share.
- Issue Type – Book Built Price Issue IPO.
- Face Value – Rs.10 per Equity Share.
- Min Order Quantity – 600 Shares.
- Market Lot – 600 Shares.
- Retail Allocation – 35%.
- Issue Size – 3,404,400 Equity Shares of Rs. 10 aggregating up to Rs. 64.00 Cr.
- Listing Exchange At – BSE SME Exchange.
- Draft Prospectus – Click Here.
Objectives of the issue of the Company :
- Establishing an integrated Greenfield project for manufacturing of CBE or specialty fats and tailor-made products of this company.
- General corporate purposes of Manorama Industries.
- If a company wants to raise its equity capital, issuing IPO is one of the most significant options.
- Issuing IPO not only upgrade the corporate image and brand name but also helps to raise its business capital.
About The Company –
- Manorama Industries is incorporated in 2005.
- This company is basically Mumbai based company.
- Manorama Industries is among the leading manufacturers of Sal Oils and Stearine globally with an annual production of 3,000-4,000 tonnes.
- This company is amongst the top 10 manufacturers of Stearine.
- Manorama Industries is catering to chocolate and cosmetic industry.
- The products of this company’s stearine are made out of sal or mango seeds is one of the key ingredients in the manufacturing of Cocoa Butter Equivalents (CBE), which has a demand in the Chocolate Industry.
- This type of product olein is generally demanded in the cosmetic industry.
- Manorama Industries products also serve as a non-palm oil ingredient as there is a movement against usage of palm oil in many western countries.
- This company has also entered into an agreement with one of the leading chocolate manufacturers for supply of CBE.
Products of Manorama Industries :
- Cosmetic Butters
- Cosmetic Oil
- Cocoa Butter Equivalents
- Sal Butter
- Mango Butter
- Kokum Butter
- Cocoa Butter Replacer
- Cocoa Butter Improver
- RBD, PKO, PMF
- Filling Fat
- Cocoa Butter Substitute
- Cassia Tora Seed
- Niger Seed
- Ground Nuts
- Sorghum Yellow and White (Jawar)
- Sal Seed Meal
- Mango Kernel Meal
- Kokum Seed Meal
- Rice Bran Meal
- Shea Meal
- Mahua Cake Meal
- Niger Seeds
- White Millet
- Sunflower Seeds
- Milo or Sorghum
- Cracked Corn
- Flax Seeds
Corporate Office Address :
F-6, Anupam Nagar, Raipur – 492007, Chhattisgarh, India.
Registered Office Address :
403, Midas Sahar Plaza, Andheri Kurla Road, Chakala, J. B. Nagar, Andheri (East), Mumbai 400 059, INDIA.
The promoters of Manorama Industries :
- Vinita Saraf, aged 47 years, is the Promoter, Chairman and Managing Director of this company.
The Board of Directors of this company :
- Vinita Saraf, aged 47 years, is the Chairman and Managing Director of this company.
- Kedarnath Agarwal, aged 78 years, is the Executive Director of this company.
- Gautam Kumar pal, aged 44 years, is the Executive Director of this company.
- Ashish Bakliwal, aged 30 years, is the Independent Director of this company.
- Ashish Agrawal, aged 40 years, is the Independent Director of this company.
- Kanhaiyalal Kothari, aged 62 years, is the Independent Director of this company.
Competitive Strength of the Company
- The company’s material supply networks are quite strong.
- Quality products are another strength of the company. Their reputation is high in delivering quality products consistently.
- The company’s long as well as a comfortable relationship with the customer all over the world.
- They have genuine resources like efficient management team and experienced as well as knowledgeable promoters.
- Their new innovative manufacturing facilities are the strongest business strategy.
- Quality improvement and efficient management have also come under their business strategy.
- On the production of CBE is the company’s focus field.
- Their strategy is to fulfill the increasing demand for domestic chocolates and cosmetics industries.
- Fair trade practices and sustainability are also important business strategies.
Company Financials :
Manorama Industries IPO Review :
The financial data is the mini statement, derived from the company’s actual profit-loss calculation. The data includes the last five years of financial information. Before 2017-18 profit, the company was going through a moderate phase. As the difference between the current year and the previous year profit-loss statement is quite high, a question of doubt may arise from the given data. This is a brief analyzation of the PAT (Profit After tax) statement. Now, let’s have a look at the other fundamental ratios of the company. All the details are taken from DRHP (draft red herring prospectus). Earnings per Share (EPS) both basic and diluted is at 13.72 as per the year 2017-18. Price to Earnings Ratio (P/E Ratio) is not given in the DRHP. RoNW (Return on Net Worth) as per the financial year18, it stands at 41.89. Net Asset Value Per Share (NAV/Share) is stick at 32.75. These data are quite helpful in analyzing Manorama Industries IPO Review. Therefore, Manorama Industries IPO Review is carrying a NEUTRAL view. So, it is advisable to check the given data twice before applying for this IPO. Otherwise, investors may apply for the IPO at their own risk.
Categories: IPO Review