Shivalic Power Control is an ISO-certified LT and HT electric panel manufacturer. Shivalic Power Control IPO is on the way to raise Rs 64.32 crores. The issue is entirely a fresh issue of 64.32 lakh shares.
IPO opens
June 24, 2024
IPO Closes
June 26 2024
IPO Size (Rs.)
₹64.32 Cr
IPO Size (shares)
6,432,000 shares
Breakup
Fresh issue only
Face Value:
₹ 10
IPO Price in Rs :
₹95 to ₹100 per share
Minimum Lot
1200 Shares
Listing At
NSE SME
QIB
~50 %
NII Quota
~15%
Retail Quota
~35%
Lead Manager
Corporate Capitalventures Pvt Ltd
Registrar
Skyline Financial Services
Market maker
Ss Corporate Securities.
About Shivalic Power Control Limited:
Shivalic Power Control Limited is an ISO-certified LT and HT electric panel manufacturer with an operating history of 20 years.
They have a 1,25,000 Sq. Feet of in-house manufacturing unit which allows to manufacture a diversified range of electric panels such as PCC Panels, IMCC Panels, Smart Panels, MCC Panels, DG synchronisation panels, Outdoor panels, HT Panels up to 33KV, VFD Panels, Power Distribution Boards, Bus Duct and LT & HT APFC Panels.
They are authorized by industry leaders such as L&T, Siemens, Schneider Electric and TDK to manufacture fully type-tested panels as per IEC 61439 – 1&2 ,IEC 61641, IS1893 which we serve to more than 15+ industrial Sectors in India as well as in outside India, viz, Nepal, Bangladesh, African countries such as Uganda, Kenya, Nigeria, Algeria..
The company has a dedicated team of engineers who are experts in designing and developing advanced designs which enable them manufacture the Techno Modular Design – Fully Bolted Panels with Aluminium and Copper Bus Bar, which make us different from traditional welding panel manufacturers with a strong focus on the quality of the panel.
Financials: Shivalic Power Control Limited
Particulars/ Rs. Lacs
9m Dec 2023
2022-23
2021-22
2020-21
Revenue (from operations)
6,355.88
8,215.68
5,733.20
5,222.44
Profit after Tax
760.11
716.26
174.79
67.28
Share Capital
100.52
100.52
100.52
100.52
Net Worth
3063.44
2303.33
1,587.07
1,412.28
Earnings per share
75.62
71.25
17.39
6.69
Net Asset Value
304.76
229.14
157.88
140.49
Total Borrowing
– Long Term
799.06
899.92
925.43
1,018.74
– Short Term
2,529.88
1,454.03
1797.22
1,374.92
Post issue Share Capital
2412
FV
10.0
IPO price
100.0
EPS Fy23
3.0
PE Fy23
33.7
EPS Fy24
4.2
PE Fy24
23.8
Market cap in Lacs
24,120
Market cap / Sales
2.94
Anchors: Shivalic Power Control IPO
GP Eco Solutions | GPES Solar IPO: Salient Points
The electric control panel market size is expected to see strong growth in the next few years. It will grow to $7.79 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%. The growth in the forecast period can be attributed to smart infrastructure development, renewable energy integration, customization and adaptability, digital transformation. Major trends in the forecast period include distributed energy systems, focus on user interface (UI) and user experience (UX), predictive maintenance, cloud integration, energy efficiency and sustainability.
The Net Proceeds are proposed to be utilized in the manner set forth below:
S. N.
Particulars
Amount (In ₹ Lakh)
1.
To meet out the working capital requirements of the company
3002.75
2.
To meet out the capital expenditure of the company
Funding for procurement of new machineries.
581.55
Civil construction of warehouse by shedding the roof.
182.30
3.
To meet out the inorganic growth through unidentified acquisition for Company
575.00
4.
General Corporate Expenses
[●]
Sr. No
Particulars
Amount
1.
To Meet Working Capital requirements of the Company “GP Eco Solutions”
1245.00
2.
Investment in our subsidiary, Invergy India Private Limited (“IIPL”) in relation to Purchase of Plant & Machineries and other Miscellaneous Assets; and towards Construction / Civil Works
760.00
4.
General Corporate Expenses *
[●]
Industries served:
Top 10 clients ( Rs. Lacs)
S.No
Particular
December 31, 2023 (in ₹ Lacs)
% of Total
1.
Crest Steel & Power Pvt Ltd
539.50
8.49
2.
Beumer India Private Ltd
331.09
5.21
3.
Shree Nath Enterprises
268.12
4.22
4.
Victora Auto Private Ltd.
258.53
4.07
5.
Naini Papers Ltd
227.00
3.57
6.
Application panel Pvt. Ltd.
217.44
3.42
7.
Greenesol Power Systems Pvt. Ltd.
202.25
3.18
8.
SJAS Super Spcialty Hospital
189.93
2.99
9.
Jindal Stainless Ltd.
179.00
2.82
10.
Minda Infrastructure LLP
177.88
2.80
Total
2,590.74
40.77
Peers:
Company/ FY23 figures
CMP Rs.
Revenue Rs. Cr
Net Profit Rs. Cr
NPM (%)
PE
Macp/sales
Ronw(%)
Shivalic Power
100
82.16
7.16
8.7%
33(23.8)
2.94
36.82%
Saakshi Medtech
331
122.06
117.00
95.9%
51.7
4.79
29.32%
Marine Electricals
161
391.27
26
6.6%
83.1
3.44
10.83%
Shivalic has served more than 500+ Clients in different industries such as Sugar, Papers, Cement, Steel, FMCG, Automobile etc.
Their clientele in this industry includes Hewlett Packard, DCM Shriram, Rungta Mines, Reliance Cement, Kalpataru Power Transmission, Jindal Steel & Power, JSW, Bikaji Foods, Dabur, Radico, Naini Paper, J K Paper, Orient Papers, J K Cement, Escorts, Yamaha Motorsetc.
Have grown at 35% CAGR .
Companies machines and plant is of international quality.
1000 vertical panel can be manufactured at one go.
Exclusive partnership with Industial Giants.
Exports to countries like Malaysia, African nations, Sri Lanka, Afghanistan, Nepal.
Shivalic Power Control IPO is coming at a PE ratio of 33x (FY23 Earnings) and 23.8x (fy24 annualized earnings).
I intend to apply in Shivalic Power Control IPO subject to availability of funds. Good demand is expected for electrical panels. Peer Saakshi Medtech And Panels Limited had a dream run on the bourses few months back.
GMP as reported on social media has been Rs. 175 (175 %).
Corporate Capitalventure is the Lead Manager with a good record. Past issues handled by them include GP Eco Solutions India Limited, Creative Graphics Solutions India Limited, Trust Fintech Limited, Esconet Technologies, Alpex Solar Limited, Accent Microcell Limited, Rockingdeals Circular Economy, Oriana Power Limite, Crayons Advertising Limited, Droneacharya Aerial Innovations Limited, Annapurna Swadisht Limited, Rajnandini Metal Limited, Swastik Pipe Limited, Uma Exports Limited, Phantom Digital Effects Limited, Nupur Recyclers etc.
SME IPOs are quite volatile and new retail investors need to exercise considerable caution in my view.
This post is exploratory and educational purposes only. Please do your own diligence before investing in SME IPOs like this.
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. 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 investments have high degree of inherent risk.
