Durlax Top Surface Limited (NSE SME)
Jun 19, 2024 - Jun 21, 2024
| Price | ₹65 - ₹68 |
| Premium | ₹64 |
|---|---|
| Lot size | 2000 |
| Allotment | Jun 24, 2024 |
| Listing | Jun 26, 2024 |
| Category | Lot(s) | Qty | Amount | Reserved |
|---|---|---|---|---|
| Retail | 1 | 2000 | 136000 | 1000 |
| HNI | 2 | 4000 | 272000 | 428 |
Last updated on 21-Jun-2024 17:59:05
| Category | Offered | Applied | Times |
|---|---|---|---|
| QIB | 2252000 | 108750000 | 48.29 |
| NIB | 856000 | 354978000 | 414.69 |
| RETAIL | 2000000 | 372552000 | 186.28 |
| Total | 5108000 | 836280000 | 163.72 |
| Retail Apps | 186276 | © IPO Premium | |
| HNI Interest Cost Per Share (7 Days) | |||||
|---|---|---|---|---|---|
| @7% ₹37.86 | @8% ₹43.26 | @9% ₹48.67 | @10% ₹54.08 | @11% ₹59.49 | @12% ₹64.9 |
Durlax Top Surface IPO Reservation
| Investor Category | Shares Offered | No. of Shares |
|---|---|---|
| Retail | 33.33% | 2000000 |
| NII (HNI) | 14.27% | 856000 |
| Anchor | 9.86% | 592000 |
| QIB | 37.53% | 2252000 |
| Market Maker | 5.00% | 300000 |
| Total | 100.00% | 6000000 |
Durlax Top Surface IPO Details
| Issue Size | 6,000,000 shares (aggregating up to ₹40.80 Cr) |
| Fresh Issue | 4,200,000 shares (aggregating up to ₹28.56 Cr) |
| Offer for Sale | 1,800,000 shares of ₹10 (aggregating up to ₹12.24 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 12,427,701 |
| Share holding post issue | 16,627,701 |
| Market Maker portion | 300,000 shares Globalworth Securities |
Key Performance Indicator
| KPI | Mar-24 | Mar-23 | Mar-22 |
|---|---|---|---|
| ROE | 26.20% | 14.13% | 3.96% |
| ROCE | 20.20% | 16.13% | 12.35% |
| RONW | 23.12% | 12.53% | 3.75% |
| D/E | 2.78 | 2.21 | 3.04 |
| EPS (Diluted) | 4.06 | 1.75 | 0.41 |
| P/E Pre IPO | 16.73 | ||
| P/E Post IPO | 22.39 |
Company Financials
Durlax Top Surface Limited Financial Information (Restated)
Durlax Top Surface Limited's revenue increased by 40.96% and profit after tax (PAT) rose by 225.55% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|
| Assets | 10,533.50 | 7,673.02 | 7,168.11 |
| Revenue | 9,083.93 | 6,684.20 | 4,741.81 |
| Profit | 505.07 | 209.44 | 48.42 |
| Net Worth | 2,184.38 | 1,671.21 | 1,292.27 |
| Reserves | 941.61 | 431.14 | 1,277.29 |
| Borrowing | 6,070.71 | 3,690.93 | 3,929.82 |
| Amount in ₹ Lakhs | |||
About Company
Established in 2010, Durlax Top Surface Limited, formerly known as Durlax Archtech Private Limited, specializes in manufacturing solid surface materials distributed across India. The company operates under two prominent brands: LUXOR, which offers acrylic UV solid sheets, and ASPIRON, which provides modified solid sheets. Both brands are known for their seamless designs, antibacterial and fire-retardant properties, catering to a wide range of applications. These high-quality solid sheets are utilized in various sectors including residential, commercial, hospitality, healthcare, and outdoor projects, offering stylish and durable solutions for countertops, vanities, offices, retail spaces, hotels, hospitals, and more. Durlax Top Surface Limited's manufacturing facility is located in Vapi, Gujarat, and as of September 25, 2023, the company employs 70 people.
Strength Factors
Diverse End-User Industries: Durlax Top Surface Limited caters to multiple sectors including residential, commercial, hospitality, healthcare, and outdoor projects, ensuring broad market reach and application versatility.
Wide Range of Product Offerings: With brands like LUXOR and ASPIRON, the company offers a variety of solid surface materials featuring seamless designs, antibacterial, and fire-retardant properties, addressing diverse customer needs.
Experienced Management: The company benefits from the expertise of its experienced promoters and management team, who possess extensive industry knowledge and a proven track record.
Risk Factors
Customer Dependency: Reliance on a few major customers for a significant portion of revenue, coupled with the absence of long-term customer agreements, poses a risk to business stability and operational results.
Supplier Risks: Lack of long-term agreements with raw material suppliers exposes the company to potential cost increases or shortages, which could negatively impact business operations and financial health.
Production Under-utilization: Failure to fully utilize production capacities could adversely affect the company's business prospects and financial performance, hindering future growth and profitability.
Durlax Top Surface IPO Lead Manager(s)
- Expert Global Consultants Private Limited
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html