YASH OPTICS AND LENS(NSE SME)

Mar 27, 2024 - Apr 3, 2024

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Anchor Details

Name of Anchor	No. of Shares	% Portion	Amount (cr)
India Equity Fund 1	617600	36.28%	5.00
Craft Emerging Market Fund - Citadel Capital Fund	236800	13.91%	1.92
Rajasthan Global Securities Pvt. Limited	236800	13.91%	1.92
StepTrade Revolution Fund	236800	13.91%	1.92
FINAVENUE CAPITAL TRUST FINAVENUE GROWTH FUND	124800	7.33%	1.01
Astrone capital VCC - Arven	124800	7.33%	1.01
Vikasa India EIF I Fund- Incube Global Opportunities	124800	7.33%	1.01
Total	1702400	100.00%	13.79

IPO Reservation

Investor category	Shares Offered	No. of Shares
Retail	34.33%	2252800
NII (HNI)	16.92%	1110400
Anchor	25.94%	1702400
QIB	17.75%	1164800
Market Maker	5.05%	331200
Total	100.00%	6561600

Yash Optics & Lens Limited, established in 2010, stands as a leading provider of comprehensive vision correction solutions in India. Specializing in the manufacture, trade, distribution, and supply of spectacle lenses, the company offers a diverse range of products, from single-vision to advanced progressive lenses, including customized and personalized options tailored for various professional needs. Notably, Yash Optics has garnered exclusive distribution rights for the renowned "Pentax" brand lenses in India, cementing its position as a trusted partner in the optical industry. With a state-of-the-art manufacturing facility situated in Kandivali (West), Mumbai, and a robust nationwide distribution network, the company ensures widespread accessibility of its high-quality products throughout the country. With over a decade of experience and a dedicated workforce exceeding 106 employees as of December 31, 2023, Yash Optics & Lens Limited remains committed to delivering innovation and excellence in vision care to its customers.

IPO Details

Total Issue Size	6,561,600 shares (aggregating up to ₹53.15 Cr)
Fresh Issue	6,561,600 shares (aggregating up to ₹53.15 Cr)
Issue Type	Book Built Issue IPO
Listing At	NSE SME
Share holding pre issue	18,204,000
Share holding post issue	24,765,600
Market Maker portion	331,200 shares Rikhav Securities

Key Performance Indicator

KPI	Sep-23	Mar-23	Mar-22
ROE	18.10%	53.48%	89.02%
ROCE	10.38%	30.28%	48.91%
RONW	18.10%	42.20%	61.69%
D/E	1.05	0.57	0.36
EPS (basic & diluted)	2.39	4.55	3.85
P/BV	6.15
P/E (Pre IPO)	18.28

Yash Optics & Lens Limited Financial Information (Restated)

Yash Optics & Lens Limited's revenue increased by 33.3% and profit after tax (PAT) rose by 18.32% between the financial year ending with March 31, 2023 and March 31, 2022.

Period	30-Sep-23	31-Mar-23	31-Mar-22	31-Mar-21
Assets	5,412.63	3,414.26	2,444.86	1,215.25
Revenue	1,869.16	3,980.39	2,986.04	1,498.24
Profit After Tax	422.52	806.58	681.67	106.31
Net Worth	2,334.01	1,911.50	1,104.92	426.61
Reserves and Surplus	2,333.01	1,910.50	1,103.92	425.61
Borrowing	2,452.69	1,085.63	402.36	585
Amount in Lakhs

 

Strength Factors

Experienced Promoters and Management Team: The presence of experienced promoters and a competent management team provides the company with valuable leadership, strategic direction, and industry expertise, enhancing its ability to navigate challenges, make informed decisions, and capitalize on growth opportunities effectively.

PAN India Presence / Customer Base across Geographies: The Company’s extensive PAN India presence and diverse customer base across various geographies signify a robust market position and a broad reach. This broad footprint not only spreads risk but also offers opportunities for revenue diversification, market expansion, and deeper penetration into different regions, strengthening the company's competitive advantage and resilience against regional economic fluctuations.

No Dependency on Single or Few Customers: The absence of dependency on a single or a few customers reduces the company's vulnerability to fluctuations in individual client demand or potential loss of key accounts. This diversified customer base ensures a more stable revenue stream, mitigating risks associated with customer turnover and enhancing the company's resilience to market volatility. Additionally, it fosters stronger relationships with customers by catering to a wider range of needs and preferences, ultimately bolstering long-term sustainability and growth prospects.

Risk Factors

Regional Concentration of Manufacturing Facilities: The Company’s concentration of manufacturing facilities in a single region, specifically Mumbai, Maharashtra, poses a significant risk. Inability to operate or grow within this region due to regulatory, economic, or other factors could adversely affect the company's business operations, financial stability, and results of operations, cash flows, and future growth prospects. Diversification of manufacturing facilities across multiple regions may mitigate this risk by spreading operational and regulatory exposure.

Inventory and Trade Receivables Management: Inventories and trade receivables forming a major part of the company's current assets present a risk if not managed effectively. Failure to efficiently manage inventory levels and collect receivables could lead to excess inventory costs, increased credit risk, reduced sales, lower profitability, cash flow constraints, and liquidity issues, ultimately impacting the company's financial performance and operational efficiency.

Historical Negative Cash Flows: The Company’s history of negative cash flows in past years poses a risk to its growth and business continuity. Sustained negative cash flows could strain liquidity, hinder investment in growth initiatives, limit operational capabilities, and potentially lead to financial distress. Effective cash flow management, cost control measures, and revenue generation strategies are essential to mitigate this risk and improve overall financial resilience.

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