Tirupati Balajee Agro Trading Company manufactures and sells flexible intermediate bulk containers (FIBCs), i.e., large flexible bags, and other industrial packaging products such as woven sacks, woven fabric and narrow fabric and tapes in the domestic and overseas markets. .
IPO opens
September 5, 2024
IPO Closes
September 09, 2024
IPO Size (Rs.)
₹169.65 Cr
Breakup
Fresh issue + OFS
Face Value:
₹ 10
IPO Price in Rs :
₹78 to ₹83 per share
Minimum Lot
180 Shares
Listing At
NSE , BSE (mainboard)
QIB
~50 %
NII Quota
~15%
Retail Quota
~35%
Lead Manager
Pnb Investment Services Ltd , Unistone Capital Pvt Ltd
Registrar
Link Intime
About Shree Tirupati Baajee Agro Trading :
They are engaged in the business of manufacturing and selling of Flexible Intermediate Bulk Containers (FIBCs) i.e. large flexible bags and other industrial packaging products such as woven sacks, woven fabric and narrow fabric, tapes in the Indian domestic market and overseas.
They offer customised products and cater to the bulk packaging solutions of clients from diverse industries like chemicals, agrochemicals, food mining, waste disposal industry, agriculture industry, lubricants and edible oil by supplying them our FIBC products for transportation purposes and their packaging requirement.
Incorporated in 2001 by Binod Agarwal.
Financials : Shree Tirupati Balajee IPO
Particulars / Rs. Cr
2024
2023
2022
Share Capital
66.82
1.16
1.15
Net Worth
173.07
110.21
92.23
Total Borrowings
243.68
223.81
240.06
Revenue from Operations
539.66
475.43
444.18
Revenue Growth (%)
13.51
7.04
–
EBITDA
75.07
50.75
40.51
EBITDA Margin (%)
13.58%
10.61%
8.93%
Net Profit
36.07
20.72
13.66
Net Profit (%)
6.53%
4.33%
3.01%
RONW (%)
20.84%
18.80%
14.81%
Post issue Share Capital
81.57
FV
10.0
IPO price
83.0
EPS Fy23
2.5
PE Fy24
32.7
EPS Fy24
4.4
PE Fy24
18.8
Market cap in crore
677
Market cap / Sales
1.25
Anchor: Shree Tirupati Balajee IPO
Salient Points: Shree Tirupati Balajee IPO
.The FIBC market in India has grown by almost 38% in the last 10 years.
FIBC market is set for good growth, driven by increasing demand across various industries and the expanding e-commerce sector
The Export Sales contributes to Rs. 26,465.87 Lakhs (49.04 % of Total Revenue) and Rs. 30,487.89 Lakhs (64.13% of Total Revenue) as compared to Domestic Sales of Rs. 27,500.21 Lakhs (50.96% of Total Revenue) and Rs. 17,055.44 Lakhs (35.87% of Total Revenue) in FY 2024 and FY 2023 respectively’
Multi- product portfolio
Diverse customer base
Listed Peers trade at PE indicated:
Commercial Syn Bags 38.3x
Emmbi Industries 23.2x
Rishi Techtexat 34.5x
P/E ratio stands at 18.8x. .
I may have to skip Shree Tirupati Balajee IPO for paucity of funds else would have applied. Should benefit from growing demand for Sustainable Packaging Solutions
GMP as reported on social media has been Rs. 40.
This post is exploratory and educational purposes only. Please do your own diligence before investing in 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. 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.
