Sona Machinery (NSE SME)
Mar 5, 2024 - Mar 7, 2024
| Price | ₹136 - ₹143 |
| Premium | ₹30 |
|---|---|
| Lot size | 1000 |
| Allotment | Mar 11, 2024 |
| Listing | Mar 13, 2024 |
| Category | Lot(s) | Qty | Amount | Reserved |
|---|---|---|---|---|
| Retail | 1 | 1000 | 143000 | 1205 |
| HNI | 2 | 2000 | 286000 | 517 |
Last updated on 07-Mar-2024 17:00:40
| Category | Offered | Applied | Times |
|---|---|---|---|
| QIB | 688000 | 89249000 | 129.72 |
| NIB | 517000 | 286816000 | 554.77 |
| RETAIL | 1205000 | 283245000 | 235.06 |
| Total | 2410000 | 659310000 | 273.57 |
| Retail Apps | 283245 | © IPO Premium | |
| HNI Interest Cost Per Share (7 Days) | |||||
|---|---|---|---|---|---|
| @7% ₹106.5 | @8% ₹121.72 | @9% ₹136.93 | @10% ₹152.14 | @11% ₹167.36 | @12% ₹182.57 |
Sona Machinery IPO Anchor
| Name of Anchor | No. of Shares | % Portion | Amount (cr) |
|---|---|---|---|
| Bengal Finance & investment pvt. Ltd | 280000 | 27.13% | 4.00 |
| Meru investment fund pcc- cell 1 | 210000 | 20.35% | 3.00 |
| Finavenue capital trust Finavenue growth fund | 131000 | 12.69% | 1.87 |
| Persistent Growth Fund varsu india growth story scheme 1 | 131000 | 12.69% | 1.87 |
| 3 sigma global fund | 70000 | 6.78% | 1.00 |
| Negen undiscovered value fund | 70000 | 6.78% | 1.00 |
| Rajsthan Global Securities private limited | 70000 | 6.78% | 1.00 |
| swyom india alpha fund | 70000 | 6.78% | 1.00 |
| 1032000 | 100% | 14.74 |
Sona Machinery IPO Reservation
| Investor Category | Shares Offered | No. of Shares |
|---|---|---|
| Anchor | 50% | 1032000 |
| QIB | 688000 | |
| Retail | 35% | 1205000 |
| NII (HNI) | 15% | 517000 |
| Market Maker | 182000 | |
| Total | 3624000 |
Sona Machinery Limited, founded in 2001, is a leading manufacturer of agricultural processing machinery, offering a comprehensive range of products such as Grains Pre-Cleaner machines, Rotary Drum Cleaner, and Rice Whitener, among others. With a commitment to excellence, the company provides end-to-end solutions for the milling sector, encompassing engineering consultation, installation services, and machine commissioning. Operating from a modern manufacturing facility in Ghaziabad, Uttar Pradesh, spanning 52,205 square feet, Sona Machinery Limited employs over 390 skilled professionals and semi-skilled workers. Their dedication to innovation and customer satisfaction solidifies their position as a trusted partner in the agricultural processing industry, catering to the diverse needs of clients worldwide.
Sona Machinery IPO Details
| Issue Size | 3,624,000 shares (aggregating up to ₹51.82 Cr) |
| Fresh Issue | 3,624,000 shares (aggregating up to ₹51.82 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 10,100,000 |
| Share holding post issue | 13,724,000 |
| Market Maker portion | 182,000 shares Hem Finlease |
Key Performance Indicator
| KPI | Mar-23 | Mar-22 | Mar-21 |
|---|---|---|---|
| ROE | 102.70% | 162.63% | 117.81% |
| ROCE | 80.20% | 77.56% | 81.47% |
| RONW | 67.86% | 89.70% | 74.14% |
| D/E | 0.22 | 0.65 | - |
| EPS (basic & diluted) | 7.61 | 3.23 | 0.28 |
| P/BV | 8.11 | - | - |
| P/E | 18.73 | - | - |
Company Financials
Sona Machinery Limited Financial Information (Restated Standalone)
Sona Machinery Limited's revenue increased by 82.3% and profit after tax (PAT) rose by 133.61% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period | 2023 | 2022 | 2021 |
|---|---|---|---|
| Assets | 2,858.19 | 1,516.58 | 732.21 |
| Revenue | 8,118.06 | 4,453.07 | 606.33 |
| Profit | 768.36 | 326.47 | 27.81 |
| Net Worth | 1,132.34 | 363.98 | 37.51 |
| Reserve & Surplus | 1,122.34 | 353.98 | 27.51 |
| Borrowing | 252.6 | 236.61 | - |
| Amount in lakhs. | |||
Strenth Factors
Versatile Product Portfolio: Sona Machinery Limited's diverse range of products caters to various needs within the agricultural processing sector, appealing to a broad spectrum of customers. This versatility not only broadens the company's market reach but also allows for greater adaptability to changing industry demands.
Rigorous Quality Assurance: With a steadfast commitment to quality assurance, Sona Machinery Limited ensures standardized quality across its product line. This dedication to quality not only enhances customer satisfaction but also builds trust and reliability in the marketplace, fostering long-term relationships with clients.
Geographical Revenue Diversity: Sona Machinery Limited's ability to generate revenue from multiple geographies provides a significant advantage in terms of risk mitigation and revenue stability. By tapping into various markets, the company can offset fluctuations in demand or economic conditions in any single region, ensuring resilience and sustainability in its operations.
Experienced Leadership and Sales Team: Bolstered by an experienced Promoter and supported by seasoned senior management, Sona Machinery Limited benefits from strong leadership guiding strategic decision-making and overall direction. Furthermore, the company's sales team, equipped with extensive industry knowledge, enhances customer engagement and fosters business growth by understanding and addressing the unique needs of diverse clientele effectively.
Risk Factors
Limited Operating History: Sona Machinery Limited's short operating history as a company poses a risk in terms of establishing a track record of performance and reliability. This lack of historical data may affect investor confidence and could potentially hinder access to capital or financing for future growth and expansion initiatives.
Revenue Concentration in Specific Geographies: Dependence on a few key geographical regions for a major portion of revenue exposes Sona Machinery Limited to significant risk. Any adverse developments, such as political instability, regulatory changes, or economic downturns in these regions, could have a detrimental impact on the company's financial performance and overall operations.
Seasonal Nature of Agriculture Sector: The inherent seasonality of the agriculture sector presents a challenge for Sona Machinery Limited, as it may experience fluctuations in operating results due to variations in demand throughout the year. This unpredictability could lead to reduced sales and profitability during off-peak seasons, impacting overall financial stability.
Lack of Long-Term Supplier Agreements: The absence of long-term agreements with suppliers for raw materials exposes Sona Machinery Limited to risks associated with cost volatility, availability shortages, and quality fluctuations. Any increase in the cost of raw materials or disruptions in the supply chain could adversely affect the company's production costs, profit margins, and overall competitiveness in the market.
Hem Securities Limited
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