Thaai Casting (NSE SME)

Feb 15, 2024 - Feb 20, 2024

Price ₹73 - ₹77
Premium ₹80
Lot size 1600
Allotment Feb 21, 2024
Listing Feb 23, 2024

Category Lot(s) Qty Amount Reserved
Retail 1 1600 123200 1265
HNI 2 3200 246400 542

Last updated on 20-Feb-2024 17:02:02

CategoryOfferedAppliedTimes
QIB1156800167080000144.43
NIB867200633160000730.12
RETAIL2024000719846400355.66
Total40480001520086400375.52
Retail Apps449904© IPO Premium
HNI Interest Cost per share (7 Days)
@7%
₹75.47
@8%
₹86.25
@9%
₹97.04
@10%
₹107.82
@11%
₹118.6
@12%
₹129.38
About

Founded in June 2010, Thai Casting Limited is a renowned automotive ancillary company specializing in High-Pressure Die Casting and precision Machining of both Ferrous and Non-Ferrous materials, along with Induction Heating and Quenching. The company prides itself on its three distinct business verticals:

  1. High Pressure Die Casting
  2. Machining of Ferrous and Non-Ferrous
  3. Induction Heating and Quenching

As an IATF 16949:2016 certified company, Thai Casting adheres to rigorous quality standards to deliver exceptional products and services. Its product portfolio includes a wide range of automotive components, such as engine mounting support brackets, transmission mounts, steering wheel armatures, electrical connectors, and more.

Strategically located in No Tiruvallur, Tamil Nadu, India, Thai Casting's manufacturing unit boasts advanced technology and equipment to meet the demanding requirements of the automotive industry. The company also houses a dedicated die-making facility for new product development, ensuring precision and quality in every aspect of its operations.

 

With a commitment to excellence and continuous improvement, Thai Casting Limited employs a team of 132 skilled professionals across various departments as of September 30, 2023, reflecting its dedication to innovation, efficiency, and customer satisfaction.

Thaai Casting IPO Details

Issue Size 6,129,600 shares
(aggregating up to ₹47.20 Cr)
Fresh Issue 6,129,600 shares
(aggregating up to ₹47.20 Cr)
Issue Type Book Built Issue IPO
Listing At NSE SME
Share holding pre issue 17,000,000
Share holding post issue 23,129,600
Market Maker portion 347,200 shares
Giriraj Stock Broking
Commodity Mandi

Thaai Casting IPO Reservation

Investor Category Shares Offered
QIB Shares Offered Not more than 50% of the Net Issue
Retail Shares Offered Not less than 35% of the Net Issue
NII (HNI) Shares Offered Not less than 15% of the Net Issue

Thaai Casting IPO Anchor Investors Details

Thaai Casting IPO raises Rs 13.35 crore from anchor investors. Thaai Casting IPO Anchor bid date is February 14, 2024.

Bid Date February 14, 2024
Shares Offered 1,734,400
Anchor Portion Size (In Cr.) 13.35
Anchor lock-in period end date for 50% shares (30 Days) March 21, 2024
Anchor lock-in period end date for remaining shares (90 Days) May 20, 2024

Thaai Casting IPO Lead Manager(s)

  • GYR Capital Advisors Private Limited

Key Performance Indicator

 

KPI

2023

2022

2021

ROCE

13%

-

-

D/E Ratio

1.85

2.63

2.77

RONW

40.10%  

16.87%

8.49%

Basic & Diluted EPS

2.96

0.68

0.24

P/E Ratio

25.99

-

-

P/BV Ratio

8.1

-

-

 

Strength

·        Workforce Expertise: The company boasts a skilled team with vast experience and expertise in aluminum die-casting, ensuring precision and quality in every project. They are committed to innovation to meet market demands.

·        Leadership Excellence: The company's leadership team brings substantial expertise in aluminum die casting and IHQ processes, focusing on innovation and continuous improvement to meet specific customer requirements.

·        Production Scalability: With a skilled workforce, the company offers flexibility in handling projects of various sizes in aluminum die casting and IHQ processes. This adaptability ensures consistent and high-quality results to meet client demands.

·        Advanced Inspection Systems: The company prioritizes excellence through advanced inspection systems, ensuring quality assurance in both aluminum die casting and IHQ processes. Through scrutiny of components guarantees precision, durability, and compliance with industry standards.

·        Delivery Commitment: The company is committed to prompt and effective project delivery in aluminum die casting and IHQ. Their efficient delivery processes, supported by a skilled workforce and optimized production workflows, ensure precise and timely completion of projects, meeting client expectations.

weakness

·        Automotive Sector Dependency: The company's fortunes are closely tied to the performance of India's four-wheeler automotive market. Should this sector experience adverse changes, it could spell trouble for the company's business and financial stability.

·        Non-Automotive Sector Dependency: The company's reliance on non-automotive sectors such as wind power, construction, and instrumentation in India exposes it to risks associated with fluctuations in these markets. Any downturn in these sectors could negatively impact the company's business operations and financial health.

·        Raw Material Cost and Availability: A rise in raw material costs or supply shortages presents a significant risk to the company's operations and financial performance. Such challenges could disrupt production processes and strain profitability.

·        Supplier Dependency: The company's heavy reliance on specific suppliers for raw material procurement makes it vulnerable to disruptions in the supply chain. Any issues faced by these suppliers could directly impact the company's ability to maintain seamless operations.

·        Geographical Dependency: With a significant portion of its revenue derived from operations in the state of Tamil Nadu, the company faces risks associated with regional developments. Adverse conditions in this area could have far-reaching implications for the company's business, financial stability, and operational outcomes.

Company Financials

Thaai Casting Ltd Financial Information (Restated Standalone)

Thaai Casting Ltd's revenue increased by 27.84% and profit after tax (PAT) rose by 336.49% between the financial year ending with March 31, 2023 and March 31, 2022.

 
Period Oct 2023 Mar 2023 Mar 2022 Mar 2021
Assets 8,188.82 5,498.52 3,752.29 2,379.19
Revenue 2,888.93 4,911.64 3,841.94 2,048.70
Profit 557.12 503.71 115.40 40.33
Net Worth 2,320.78 1,617.31 894.84 473.46
Reserves 620.78      
Borrowing 4,410.07 2,985.10 2,351.15 1,313.51
Amount in ₹ Lakhs
Lead Manager(s)

Thaai Casting IPO Lead Manager(s)

  • GYR Capital Advisors Private Limited
Strength
Weakness
Registrar

Purva Sharegistry India Pvt Ltd

Phone: +91-022-23018261/ 23016761
Email: support@purvashare.com
Website: https://www.purvashare.com/queries/