Milton Industries Limited is engaged in manufacturing and exporting of Laminates, Artificial Leather cloth and Glass Fibre Reinforced Epoxy (GFRE) Sheets. It is Ahmedabad Gujrat based company. This company manufacturer and exporter of premium quality high-pressure laminates, industrial Laminates, laminated board, flooring laminates, artificial Leather-cloth, GFRE Sheets and other allied products. Their IPO is currently on the exchanges. So let’s check the Milton Industries Limited IPO review through this post.
About Milton Industries Limited IPO :
- IPO opens on – September 29, 2017
- IPO closes on – October 6, 2017
- Face value – Rs. 10 per equity share
- Issue price – Rs. 34 Per Equity Share.
- Issue type – Fixed Price Issue IPO.
- Minimum lot – 4000 shares.
- Minimum order quantity – 4000 Shares.
- Issue size – 4,200,000 Equity Shares of Rs 10 aggregating up to Rs 14.28 Cr.
- Listing exchange – NSE SME Exchange.
- Draft prospectus – Click here to download the DRHP.
Objectives of the issue :
- To Meet Working Capital Requirement.
- General Corporate Purpose.
- To Meet the Issue Expenses.
About The Company-
- Milton Industries Limited is an ISO 9001:2008 certified company.
- This company’s laminates can be used on walls, doors, windows, cupboards, tabletops, hotels, cash counters, home kitchen, etc.
- Initially Milton Industries Limited was engaged in manufacturing of laminates and further diversified in manufacturing and exports of Artificial Leather-cloth, GFRE Sheets, DGFRP, CCL and NAFTC.
- NAFTC (Natural & Artificial Fibre Thermoset Composite Sheets for Roof Paneling of Indian Railways Passenger Coaches) – This product is a composite Product and used on the Roof Panel of the Coaches with specifically developed for Railway Department as composite less weight with EN Standards material.
- DGFRP (Composite Decorative Glass Fabric Rein Forced Plastic Sheets) – This product is specifically developed for Railways Department coaches particularly for side panels.
- This company also manufacturing GFRE (Glass Fibers Rein Forced Epoxy Sheets) which is used in the ceiling of the Railway Coaches and it stands with EN Standards.
- The development process of the company includes design, development, testing, manufacturing and delivery.
- Milton Industries Limited’s Customer base is spread in all over India and outside India in various countries such as the Middle East, African Countries, Syria, Bangladesh, South America, Turkey, Australia and Sri Lanka.
Promoters of the company :
- Mr. Vijay Pal Jain.
- Mr. Ajay Mahipal Singh Jain.
- Mr. Abhay kumar Mahipal singh Jain.
- Mr. Vikas Jain.
- Mr. Saket Jain.
Milton Industries Limited IPO Review: From the financial statement its clear that the company’s profits have declined steadily from FY 2013 till FY 2016. This may be due to the debt of the company. However, the company has been able to turnaround on FY 2017 and posted handsome profits. Still, it’s not tested whether they can sustain this profitability or not. Hence our Milton Industries Limited IPO review has a NEUTRAL view on this issue. Invest only if you have surplus cash.
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