Naman In-Store (India) Limited is a prominent display and retail fixture company with a broad spectrum of offerings tailored to various industries. Naman In-Store IPO intends to raise Rs 25.35 crores. The issue is entirely a fresh issue of 28.48 lakh shares.
IPO opens
Mar 22, 2024
IPO Closes
Mar 27, 2024
IPO Size (Rs.)
25.35 crores
IPO Size (shares)
2,848,000 shares
Breakup
Fresh issue only
Face Value:
₹10
IPO Price in Rs :
₹84 to ₹89 per share
Minimum Lot
1600 Shares
Listing At
NSE SME
QIB Quota
~50%
NII Quota
~15%
Retail Quota
~35%
Lead Manager
GYR Capital Advisors
Registrar
Bigshare
Market maker
Giriraj Stock Broking
.
About Naman In-Store (India):
Naman In-Store (India) Limited is a prominent display and retail fixture company with a broad spectrum of offerings tailored to various industries.
In the retail sector, they specialize in providing top-notch store fixtures for fashion, apparel, footwear, beauty and electronic retailers. Our range of fixtures is designed to enhance the visual appeal and functionality of retail spaces.
In addition to retail fixtures, Naman is also a prominent player in the manufacturing sector. Their expertise extends to crafting office furniture, low-housing kitchens, furniture for education institutions as well as supermarket shelving solutions, creating efficient storage solutions for retail environments.
They have a diverse clientele spanning different geographies, industry verticals, and service offerings. A significant portion of their revenue (~50%) comes from operations to customers in Maharashtra.
Naman operates on a B2B (Business-to-Business) model and thus does not operate on dealership mode.
Their manufacturing facilities located at Vasai, Mumbai are dedicated for producing bespoke products.
Mr. Raju Paleja, Ms. Bhavika Paleja, Mr. Jay Shah, Mr. Mehul Naik and Mr. Abdul Shahid Shaikh are the Promoters of company.
Financials: Naman In-Store IPO
Particulars (₹ in Lacs.)
2023 (06)
2023 (12)
2022 (12)
2021 (12)
Revenue from Operations
7,921.79
14,984.57
5,099.41
1,337.90
EBITDA
1,241.03
1,073.12
290.8
76.85
EBITDA Margin (%)
15.67%
7.16%
5.70%
5.74%
Profit for the period/year
618.89
381.71
21.24
5.08
Profit Margin (%)
7.81%
2.55%
0.42%
0.38%
Equity Share Capital
140
140
140
90
Net Worth (1)
1203.48
584.59
202.88
131.64
Return on Average Equity
69.22%
96.95%
12.70%
3.93%
Return on Capital Employed
24.51%
23.98%
6.82%
3.81%
Total Borrowings
3166.06
2944.09
1883.91
1023.91
Post issue Share Capital
1055
FV
10.0
IPO price
89.0
EPS Fy23
3.6
PE Fy23
24.6
EPS Fy24 (annualized)
11.7
PE Fy24 (annualized)
7.6
Market cap in Lacs
9,390
Market cap / Sales
0.63
Anchors: Naman In-Store IPO
Naman In-Store IPO: Salient Points
Company intend to utilize the proceeds of the Issue for:
Sr.
Particulars
Amount in Lacs
1.
Funding acquisition of land on leasehold basis at Butibori, MIDC, shift existing manufacturing facilities of the company
Upto 466.83
2.
Construction of Factory Building
Upto 1,217.89
3.
General Corporate Purposes
[●]
Company proposes to shift manufacturing facilities located at Vasai, Maharashtra to Butibori MIDC, Nagpur.
They have Over 1 Lac Square feet of Factory dedicated to design and create best furniture product in wood, metal and Plastic pose.
They also operate a spacious 74,000 sq. ft. warehousing facility for storing finished goods and efficient dispatch.
They specialise to provide one-stop solutions across multiple retail stores and industries as all engineering and shop drawing is performed in-house, under one roof
Clients: As on September 30, 2023 theyt have served around 32 retail customers and their franchises and 04 industrial customers.
Verticals wise product revenue
Category
As on March 31, 2021
As on March 31, 2022
As on March 31, 2023
For Six Months period ended September 30, 2023
Revenue
% to Revenue
Revenue
% to Revenue
Revenue
% to Revenue
Revenue
% to Revenue
Retail
1,317.16
98.45
4084.86
80.00
12149.27
81.00
6148.53
78.00
Industrial
1.59
0.12
670.18
13.00
2,536.82
17.00
1,631.62
21.00
Others
19.15
1.43
344.36
7.00
298.48
2.00
141.63
2.00
Total
1337.90
100.00
5099.4
100.00
14,984.57
100.00
7921.78
100.00
Peers:: None
Company’s revenue and profits have grown at has grown at a good pace
Period Fy21 to Fy23
CAGR %
Revenue growth
235%
EBIDTA Growth
274%
Net Profit Growth
767%
Naman In-Store IPO is coming at a PE ratio of 25x (fy23 earnings) and 7.6x (Fy24 annualized earning)
I intend to apply in Naman In-Store IPO subject to availability of funds. Company has exhibited good growth on all parameters.
GMP as per Social media is around Rs. 55. It may be noted that such rates are perhaps in thin deals and may not be even indicative. I steer clear of any deals in GMP however lucrative they may appear, nor I have any access to any grey market operator.
SME IPO are much more risky and volatile than mainboard IPOs.
Standard disclaimer: I am not a SEBI registered analyst and above analysis is for educational purpose only. Iam a postgraduate in engineering & Management. I have in the past cleared some exams like NISM-Series-V-A: Mutual Fund Distributors Certification, NISM-Series-X-A: Investment Adviser (Level 1) Certification and NISM-Series-X-B: Investment Adviser (Level 2) Examination. These certifications are for 3 year period and are no more valid. This post is my view on the subject matter and is only academic and exploratory in nature. It is not meant to influence investment decisions of investors. I may have bias/vested interest in covered Stock/Mutual Funds/NCD etc. due to my own investment or leaning. Further my understanding of the areas on which I write may be imperfect or incomplete and data could be wrong due to limited time and resources at my disposal. Do check the data from company’s RHP and exchanges before making any decision. Please do your own due diligence as stock market/MF/IPO investments have high degree of inherent risk.
