Kurlon Enterprise IPO Company Profile:
Established in 1962, Kurlon is an innovator of Rubberized Coir mattresses in India and also one of the oldest mattress companies in India that offers a wide range of home comfort solutions ranging from mattresses like RC mattresses, spring mattresses, and foam mattresses, polyurethane foam, home furniture & furnishing products under the brand name “Kurl-on” for retail as well as institutional customers such as Hotels, Hospitals and Hostels who prefer premium and high quality branded mattresses with flame retardant, anti-bacterial fabrics. Currently, the Company exports its products to Asian countries like Sri Lanka and Nepal.
Kurl-On Limited (“KL”) is the holding company, which promoted a subsidiary company in the style and name of Kurlon Enterprise Ltd. (“KEL”) in the year 2011. Consequent to the Business Transfer Agreement between KL and its subsidiary, the business of Rubberized Coir, Latex Foam, Polyurethane Foam, Pillows, Spring Mattresses, Furniture, Furnishing, and related products were transferred to the subsidiary company effective 1st April, 2014. Headquartered in Bengaluru, Kurlon Enterprise Ltd. (“KEL”) is now the operating company. Both Companies are closely held unlisted public Ltd Companies. Kurlon Enterprise Limited now manufactures products in 135 different configurations, Pan-India, and has a retail reach out of more than 4000+ counters, 50+ Warehouses, and 12 strategically located manufacturing facilities across Karnataka, Gujarat, Orissa, Uttaranchal, and Madhya Pradesh.
Kurlon Enterprise IPO Details:
| IPO Open Date | Not Available |
| IPO Close Date | Not Available |
| Listing Date | Not Available |
| Face Value | ₹5 per share |
| Price | Not Available |
| Lot Size | Not Available |
| Issue Size | Not Available |
| Fresh Issue | Not Available |
| Offer for Sale | Not Available |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| QIB Shares Offered | Not Available |
| NII (HNI) Shares Offered | Not Available |
| Retail Shares Offered | Not Available |
| Promoters | Kurlon Limited, Tonse Sudhakar Pai, and Jaya Sudhakar Pai |
Kurlon Enterprise IPO Shareholders holding more than 5% of shares:
| S. No. | Name of the Shareholder | No. of Equity Shares
held |
Percentage % of total shares |
| 1. | Kurlon Limited | 3,09,24,115 | 84.60% |
| 2. | Indian Business Excellence Fund II A | 23,54,086 | 6.44% |
| Total | 3,32,78,201 | 91.04% |
Kurlon Enterprise IPO Financial Analysis :
| Particulars | FY-22(in cr.) | FY-21(in cr.) | YoY |
| Revenue from Operations | 795.15 | 758.82 | 4.8% |
| Other Income | 13.65 | 8.43 | 61.9% |
| Operational Cost | 456.61 | 412.85 | 10.6% |
| Employee Cost | 73.62 | 66.81 | 10.2% |
| Other expenses | 245.64 | 171.68 | 43.1% |
| EBITDA | 32.93 | 115.92 | -71.6% |
| EBITDA margin% | 4.14% | 15.28% | |
| Depreciation | 36.05 | 31.25 | 15.3% |
| Interest | 5.73 | 5.27 | 8.7% |
| Exceptional items | 0.00 | 20.19 | |
| Profit / (loss) before tax | -8.85 | 59.21 | |
| Total tax | -3.26 | 25.61 | |
| Profit / (loss) After tax | -5.58 | 33.60 | |
| Profit / (loss) After tax margin% | -0.70% | 4.43% |