Pyramid Technoplast Limited IPO Company Profile:
Pyramid Technoplast Limited (PTL) manufactures polymer-based products, including bulk packaging drums and containers used by agrochemical, chemical, and pharmaceutical companies. The co. has a total capacity of 20,612 MTPA for polymer drums, 12,820 MTPA for IBCs (Intermediate Bulk Containers), and 6,200 MTPA for MS (Mild Steel) drums as a result of six strategically placed manufacturing facilities in Silvassa and Gujarat. In Bharuch, Gujarat, a seventh unit is being constructed. Additionally, the co. obtained UN certification for the MS drums and IBCs, which guarantees the products adhere to the stringent safety regulations required for the transportation of hazardous commodities. Some of its key clients include Gujarat Alkalis & Chemicals Ltd (GACL), Deepak Nitrite, United Phosphorus (UPL), Patanjali Group, Adani Wilmar Ltd, Apar group, Alkyl Amines, Asian Paints and the JSW Group, owned by the Jindal family
|Pyramid Technoplast Limited
|Rs.151 – Rs.166 per Equity share
|Recommendation: Aggressive Investors may Apply
Pyramid Technoplast Limited IPO Details:
|Objects of the issue
|Total issue Size – Rs.153 Cr.
Fresh Issue – Rs.91.30 Cr.
Offer for Sale – Rs.61.75 Cr.
|Rs.151 – Rs.166
|18th Aug, 2023 – 22nd Aug, 2023
|30% of Net Issue Offer
|20% of Net Issue Offer
|50% of Net Issue Offer
Pyramid Technoplast Limited IPO Financial Performance:
Pyramid Technoplast Limited IPO Strengths:
PTL has diverse customer base from diverse industries along with comprehensive product portfolio.
Co’s plants are located near production hubs for chemicals, agrochemicals, pharmaceuticals, lubricants, and edible oil, which makes it easier for the co. to access and transport its goods to these sectors of the economy.
It offers complete bulk industrial packaging solutions to its clients since it manufactures both polymer-based bulk packaging drums and IBC, as well as MS Drums for packaging
Pyramid Technoplast Limited IPO Key Highlights:
Revenue of the co. has increased from Rs.314 Cr. in FY21 to Rs.480 Cr. in FY23 with a CAGR of 15% and the Net Profit has increased from Rs.17 Cr. to Rs.32 Cr. during the same period with a CAGR of 23%.
Co’sEBITDA Margin & PAT Margin stands at 10.8% & 6.6% respectively in FY23.
As of March, 2023, ROCE and ROE ratio of the co. is 21.37% and 29.61%.
Net debt of the co. has increased from Rs.46.7 cr. in FY21 to Rs.49.6 cr. in FY23
Pyramid Technoplast Limited IPO Risk Factors:
For manufacturing industrial packaging, the co. is required to adhere to governmental regulations, global standards, and customer quality norms. Failure to meet any of these could impact co.’s business.
- A sizeable amount of the business’ overall expenses are related to the polymer used in the production of IBCs and polymer drums. As the polymer is derived from oil, fluctuations such as higher crude prices or reduced polymer availability could have a negative impact on the co.’s operations.
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Pyramid Technoplast Limited IPO Shareholding Pattern:
Source: RHP, EWL Research
Pyramid Technoplast Limited IPO Outlook:
PTL is one of the leading manufacturer of polymer based molded products which are used by several key industries and is one of the leading manufacturers of rigid IBC in India manufacturing 1,000 litres capacity IBC. The co.’s business is broadly divided into Polymer Drums, IBCs and MS Drums which accounted for ~52%, ~32% and ~9% in the total revenue in FY23. In order to reduce the risk of supply chain issues, the co. maintains long-term partnerships with local and foreign distributors or vendors and uses many vendors for certain components as opposed to relying on a single source. This enables it to ensure the availability of the raw materials and the best rates for its products. PTL continues its focus on its products by expanding its existing facilities. Additionally it is exploring new industry prospects that have emerged due to prevailing geopolitical environment and governmental policies. The co. is offering the P/E of 19.2x on the upper price band compared to the industry average of 25.3x. With commoditized products and strong execution skills, it is well-positioned to benefit from industry developments. Additionally, PTL is pursuing expansion strategies and has shown positive revenue growth. However, it has previously experienced negative cash flow, and this pattern might persist going forward. Therefore, we advise only risk-taking investors to apply to the offering.
TVS Supply Chain Solutions IPO
Ans. Pyramid Technoplast IPO is a main-board IPO of 9,220,000 equity shares of the face value of ₹10 aggregating up to ₹153.05 Crores. The issue is priced at ₹151 to ₹166 per share. The minimum order quantity is 90 Shares.
The IPO opens on Aug 18, 2023, and closes on Aug 22, 2023.
Bigshare Services Pvt Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Ans. The Pyramid Technoplast IPO opens on Aug 18, 2023 and closes on Aug 22, 2023.
Ans. Pyramid Technoplast IPO lot size is 90 Shares, and the minimum amount required is ₹14,940.
Ans. The Pyramid Technoplast IPO listing date is not yet announced. The tentative date of Pyramid Technoplast IPO listing is Wednesday, 30 August 2023.
Ans. The minimum lot size for this upcoming IPO is 90 shares.