Dindigul Farm Product Limited (BSE SME)
Jun 20, 2024 - Jun 24, 2024
| Price | ₹51 - ₹54 |
| Premium | ₹68 |
|---|---|
| Lot size | 2000 |
| Allotment | Jun 25, 2024 |
| Listing | Jun 27, 2024 |
| Category | Lot(s) | Qty | Amount | Reserved |
|---|---|---|---|---|
| Retail | 1 | 2000 | 108000 | 1072 |
| HNI | 2 | 4000 | 216000 | 460 |
Last updated on 24 Jun 2024 05:57:26 PM
| Category | Offered | Applied | Times |
|---|---|---|---|
| QIBs | 1226000 | 178526000 | 145.62 |
| HNIs | 920000 | 257980000 | 280.41 |
| Retail | 2144000 | 431894000 | 201.44 |
| Total | 4290000 | 868400000 | 202.42 |
| Total Application : 267,572 | |||
| HNI Interest Cost Per Share (7 Days) | |||||
|---|---|---|---|---|---|
| @7% ₹20.33 | @8% ₹23.23 | @9% ₹26.14 | @10% ₹29.04 | @11% ₹31.94 | @12% ₹34.85 |
EnNutrica IPO Details
| Issue Size | 6,450,000 shares (aggregating up to ₹[34.83] Cr) |
| Fresh Issue | 6,450,000 shares (aggregating up to ₹[34.83] Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE SME |
| Share holding pre issue | 17,979,280 |
| Share holding post issue | 24,429,280 |
| Market Maker portion | 326,000 shares Spread X Securities |
EnNutrica 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 |
Key Performance Indicator
| KPI | Dec-23 | Mar-23 | Mar-22 |
|---|---|---|---|
| ROE | -0.95% | - | - |
| ROCE | 0.62% | - | - |
| RONW | 149.49% | - | - |
| D/E | 4.63 | -1.21 | -0.91 |
| EPS (Diluted) | 4.09 | 3.59 | -2.90 |
| P/E Pre IPO | 18.47 | ||
| P/E Post IPO | 16.81 |
Company Financials
Dindigul Farm Product Limited Financial Information (Restated)
Dindigul Farm Product Limited's revenue increased by 188.19% and profit after tax (PAT) rose by 225.16% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period | Dec 2023 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|
| Assets | 5,123.46 | 2,899.84 | 2,995.07 | 2,995.07 |
| Revenue | 6,876.65 | 8,199.34 | 2,845.07 | 1,840.72 |
| Profit | 588.40 | 525.79 | -420.08 | -461.19 |
| Net Worth | 393.94 | -1,638.46 | -2,162.72 | -1,742.64 |
| Borrowing | 2,263.87 | 2,398.37 | 2,579.25 | 2,716.23 |
| Amount in ₹ Lakhs | ||||
About Company
Incorporated in 2010, Dindigul Farm Product Limited specializes in processing whole milk and skimmed milk into various dairy ingredients such as milk protein concentrates skimmed milk powder, dairy whitener, whey protein concentrate, milk whey powder, casein, unbranded cream, butter, and fat-filled powders for infant milk formula. The company's 15-acre processing unit in Dindigul adheres to standards set by FSSAI, Halal, Kosher, Export Import Council of India, and European regulations, and it holds a registration cum membership certificate from APEDA. With a network of over 150 village collection centers, the company directly engages with more than 4,000 farmers and 50 dairy farms. Dindigul Farm Product Limited markets its products under the brand names ENNUTRICA and Activday, catering to a diverse customer base across more than 15 states in India and three international markets. As of December 23, 2023, the company employed 101 staff members and supplemented its workforce with contractual labor as needed.
Strength Factors
Diverse Product Portfolio: Dindigul Farm Product Limited offers a wide range of dairy ingredients, including milk protein concentrates, skimmed milk powder, dairy whitener, whey protein concentrate, milk whey powder, casein, cream, butter, and fat-filled powders, catering to various customer needs and industries.
Robust Milk Procurement Network: The Company has established a strong network of over 150 village collection centers, providing direct access to more than 4,000 farmers and 50 dairy farms, ensuring a reliable and consistent supply of raw milk.
Advanced Infrastructure: With a state-of-the-art processing unit covering 15 acres in Dindigul, the company is well-equipped with modern facilities to maintain high production standards and meet the requirements of various regulatory bodies such as FSSAI, Halal, Kosher, and European regulations.
Risk Factors
Ongoing Financial Losses: The Company has incurred net losses in Fiscal 2022 and Fiscal 2021, along with a negative net worth for the past three fiscal years, which raises concerns about its ability to achieve profitability and sustain operations in the future.
Raw Material Costs and Supply: Any increase in the cost or shortfall in the supply of raw materials could negatively impact the pricing and availability of products, adversely affecting the company’s business, operational results, and financial condition.
Product Contamination Risks: Real or perceived contamination of products could lead to decreased sales, product liability issues, damage to the company’s reputation, and potential regulatory actions, significantly impacting the business.
EnNutrica IPO Lead Manager(s)
- Beeline Capital Advisors Pvt Ltd
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: dindigulfarm.ipo@linkintime.co.in
Website: https://linkintime.co.in/initial_offer/public-issues.html