Parin Furniture is engaged in the business of providing provider of a wide and exclusive range of furniture and lifestyle products. It is a Gujarat based company. We will analyze Parin Furniture IPO Review at the end of the article but before that let’s just start with the issue detail of the company.
Parin Furniture IPO Review Issue Details :
- IPO Opens on – September 26, 2018.
- IPO Closes on – September 28, 2018.
- Issue Price – Rs. 60- Rs. 63 Per Equity Share.
- Issue Type – Book Built Issue IPO.
- Face Value – Rs.10 per Equity Share.
- Min Order Quantity – 2000 Shares.
- Market Lot – 2000 Shares.
- Issue Size – 3,000,000 Equity Shares of Rs. 10 aggregating up to Rs. 18.90 Cr.
- Listing Exchange At – NSE SME Exchange.
- Draft Prospectus – Click Here.
Objectives of the issue of the Company :
- Repayment of certain secured borrowing availed by this company.
- Funding the working capital requirements of Parin Furniture.
- The main object of offer is the general corporate expenses of this company.
- Expenses of the issue of Parin Furniture.
About The Company –
- Parin Furniture is incorporated in 2006.
- This company’s products are includes a variety of furniture for homes, offices, hospitals and other institutions.
- Parin Furniture’s business network is spread in 18 states with COCO Flagship retail stores in Ahmedabad, Rajcot and Mumbai.
- This company has 4 warehouse in Rajcot, Surat, Mumbai and Kolkata.
- Parin Furniture has entered into franchise agreements with other companies in Junagadh, Mehsana and Hyderabad.
- This comapny has a well estabilished manufacturing unit located at Rajkot.
- The facility of the products of Parin Furniture is equipped with high tech equipment and design facility to manufacture various all types of furniture.
- This company has 137 employees on its payroll.
Products of Parin Furniture :
Home Furniture and Decor :
- Living Room – Sofa, Sofa Set, Recliner Sofa Set, Single Seater Recyner, Relax Chair, Center Table, Corner Table, Entertainments Units.
- Dining – Dining Set, Dining Table, Dining Chair.
- Bed Room – Bed, Bed Room Set, Dressing Table, Side Table, Wardrobe.
- Shoe Racks.
- Kids Furniture.
- Loby Set.
- Others Coloring Floral Set.
Office Furniture :
- Desking Table.
- Seating Chair.
- Conference Meeting Table and Chairs.
- Visitor Chair.
- Office Chair.
- Office Cabinet.
Hospital Furniture :
- Side Table.
- Examination Coach.
Education or Institutional Furniture :
- Students Desk and Chair.
- Laboratory Furniture.
- Canteen and Cafeteria.
- Hostel Furniture.
- Library Chair.
- Storage and Locker.
- Waiting Area Chair.
Beside Parin Motors, Gondal Road,
Village : Vavdi,
Rajkot – 360004.
The promoters of Parin Furniture :
- Mr. Umesh Dhirajlal Nandani is the Promoter, Chairman and Managing Director of this company.
- Mr. Deven Dipesh Nandani is the Promoter and Non-Executive Director of this company.
- Mr. Parin Umeshbhai Nandani is the Promoter and Non-Executive Director of this company.
The Board of Directors of this company :
- Mr. Umesh Dhirajlal Nandani is the Chairman and Managing Director of this company.
- Mr. Parin Umeshbhai Nandani is the Non-Executive Director of this company.
- Mr. Deven Dipesh Nandani is the Non-Executive Director of this company.
- Mr. Dayalal Harjivanbhai Kesharia is an Independent Director of this company.
- Dr. Shweta Chirag Kathrani is an Independent Director of this company.
Competitive Strength of Parin Furniture :
Unique brand positioning of this company :
This company has developed their strong goodwill in the furniture industry with the support of their business associates and customers. The business partners and dealers are associated with the company for a long time.
The widespread network of Parin Furniture:
The National Brand having this company’s presence in 18 states. Parin Furniture having more than 900 Dealers across pan India. This company strengthens their customer base, strong presence on e-commerce sites through their business tie-ups with giant retailers like Flipkart and Pepperfry.
Integrated manufacturing facility of their subsidiary company :
Parin Furniture maintains the requisite infrastructure and technological up gradation for the smooth running of the manufacturing process with the changing market demand situation. There is a continuous change in the technology and markets are very dynamic to the change in technology.
Experienced Promoters, professional management and skilled workforce of Parin Furniture :
This is a professionally managed company with an experienced management team. Mainly this company is led by their Managing Director, Mr. Umesh Dhirajlal Nandani, who has been associated with this company. His core
expertise and primary focus are on product development and business expansion. Mr. Parin Umeshbhai Nandani
is the young director of this company, handling the sales business verticals.
Strong and long-term relationship with the clients of this company :
This company’s customer satisfaction and long-standing relationship with clients is the key to success for any organization. Parin Furniture has time delivery and quality product which is maintain a strong relationship with their customers and also gives competitive strength. The strength of this company is their uniform business policies, professional business approach, scheme and promotion offers, diversified product range, commitment to deliver on a real-time basis and after-sales service.
Optimal utilization of resources Parin Furniture :
The subsidiary company of Parin Furniture constantly endeavors to improve its production process, skill up-gradation of workers, modernization of machineries to optimize the utilization of resources.
Business Strategy of the Company :
- Brand building of this company.
- Setting up of more showrooms of Parin Furniture.
- Improving functional efficiency of this company.
- Leveraging this company’s marketing skills and relationship.
Company Financials :
In order to state Parin Furniture IPO Review, company financial statement is necessary.
Parin Furniture IPO Review :
The mini statement is the snapshot of annual profit-loss data. It shows past five fiscal year statement. As we can see that the company is fast growing. Last financial year PAT (Profit after tax) is 261.78 which is quite higher than the previous fiscal years. Now, before announcing the review detail of Parin Furniture IPO Review, let’s just go through the annual fundamental ratios of the company. For stating any IPO review, analyzing of fundamental ratio is necessary. As per the data , taken from DRHP of the company, earnings per share (EPS) stands at 3.98 (standalone) 6.33(consolidated) in 2018. The company has not revealed the annual price to earnings ratio status in their prospectus. Return on Net Worth of the company stands at 16.92. NAV/Share is at 19.06. Both RoNW and NAV/Share are based on the 2017-18 data. Hence, based on our analytical overview Parin Furniture IPO Review carries a NEUTRAL view. Investors are advised to invest for a long term period.
Categories: IPO Review