Lotus Roofings IPO Review, Dates, Allotment, Subscription, GMP & DRHP
Last Updated Date: Nov 17, 2022Let’s have a detailed review of the company and analytics of the Lotus Roofings IPO release date, IPO offer price, subscription, Lotus Roofings IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters and other related things.
Lotus Roofings Limited is engaged in the business of manufacturing and dealing in products based on Polyvinyl Chloride (PVC) which inter alia include Roofing sheets, pipes, self drilling screws and roofing solutions. Apart from these products the Company also trades and manufactures Polycarbonate roofing sheets. 
Lotus Roofings IPO Review & Ratings
| IPO Ratings & Review | |
| Criteria | Ratings |
| Industry Sentiments | 8.5/10 |
| Industry Ranking | 7.8/10 |
| Company Background | 7.9/10 |
| Company Reputation | 7.9/10 |
| Competitive Edge | 7.7/10 |
| Financial Statements | 7.8/10 |
| Popularity Index | 8.4/10 |
| Promoters Reputation | 7.7/10 |
| Retail Appetite | 7.9/10 |
| Top Brokers Review | 7.9/10 |
| Overall Ratings | 8.1/10 |
| Star Ratings | ★★★★☆ |
Summary of Lotus Roofings IPO
Lotus Roofings Limited is engaged in the business of manufacturing and dealing in products based on Polyvinyl Chloride (PVC) which inter alia include Roofing sheets, pipes, self drilling screws and roofing solutions. Apart from these products the Company also trades and manufactures Polycarbonate roofing sheets.
This company markets its products through its dealer network spread out across Southern India. Issue of 45,60,000* Equity Shares of face value of Rs. 10/- each for cash at a price of Rs. [●] per equity share aggregating to Rs. [●] Lakhs.
From FY 2015-16 to FY 2017-2018, as per the Restated Financial Statements:
- As per restated standalone financial statements for the period ended on September 30, 2018 and fiscal year ended on March 31, 2018, March 2017 and March 31, 2016, the total revenue of the Company stood at Rs. 7,216.66 lakhs, 10276.90 lakhs, Rs. 8434.44 lakhs, Rs. 6780.04 lakhs respectively.
- The net asset value per Equity Share was Rs. 17.45 and Rs. 15.98 as of Sept 30, 2018 and March 31, 2018, respectively, as per the Restated Standalone Financial Statements.
- The net worth as of March 31, 2018 is Rs. 1917.30, as per the Restated Ind AS Consolidated Summary Statement of Assets and Liabilities.
- The PAT for the period ended on September 30, 2018 and fiscal year ended on March 31, 2018, March 31, 2017 and March 31, 2016 stood at Rs. 176.72, 412.39 lakhs, Rs. 206.25 lakhs, Rs. 77.35 lakhs respectively.
The Promoters of this company are Mr. Vasanadu Govind and Poly Tough Tubes Limited. The lead manager to the issue is Hem Securities Limited and the Registrar to this issue is Karvy Computershare Private Limited.
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Lotus Roofings IPO Date
The opening and the closing date of Lotus Roofings IPO is not known yet.
Lotus Roofings IPO Subscription
| Day / Date | QIB | NII | RII | Total Subscription |
| 1st Day – | ||||
| 2nd Day – | ||||
| 3rd Day – | ||||
| 4th Day – | ||||
| 5th Day – | ||||
| Shares Offered or Net Issue |
The shares subscribed by the public will be updated herein on a daily basis, once the IPO is open for subscription.
Lotus Roofings IPO Allotment Status
Here, you can find the Allotment Status of this IPO.
Lotus Roofings IPO Price Band
The face value of each share is Rs 10, but the price band of the IPO is not yet disclosed.
Lotus Roofings IPO Equity Share Offering
Issue of 45,60,000* Equity Shares of face value of Rs. 10/- each for cash at a price of Rs. [●] per equity share aggregating to Rs. [●] Lakhs.
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Lotus Roofings Limited – Company Overview
It was originally incorporated under the Companies Act, 1956 in the year 1984 with business of manufacturing and dealing in products based on Polyvinyl Chloride (PVC) which inter alia include Roofing sheets, pipes, self drilling screws and roofing solutions.
Lotus Roofings also trades and manufactures Polycarbonate roofing sheets.
Roofing sheets are categorized in following two varieties:
1. PVC sheets (Traditional roofing):
a. Opaque sheets
b. Transluscent sheets.
2. Polycarbonate sheets (New generation) :
a. Compact & Embossed Solid Sheets
b. Multiwall sheets.
They have commenced the production of Embossed & Compact Solid sheets in the new plant along with the erection of multiwall sheets machinery from the period March 2018.
They also make PVC pipe for plumbing and agricultural applications.
Under PVC Pipes they have 3 varieties:
a. Plumbing pipes
b. Irrigation pipes
c. Deep Borewell / Casing pipes.
They also have trading and marketing division where they trade and market various self drilling screws which are accessories for roofing.
This Company has its presence across South India, i.e. Tamil Nadu, Andhra Pradesh, Telangana, Karnataka, Kerala. They also have some distribution arrangements in Western India. Most of the trade is through trade channels.
Competitive Strengths of Lotus Roofings Limited:
- Market leader in wires and cables in India
- Diverse suite of electrical products with varied applications across a diverse customer base
- Strong distribution network
- Manufacturing facilities with high degree of backward integration
- Strong brand in the electrical industry
- Experienced and committed management team
Business strategies of Lotus Roofings Limited:
- Increasing the presence in existing and new Markets
- Providing value added services
- Focus on cordial relations with the suppliers, customers and employees
- To build-up a professional organization
- Optimal utilization of resources
Lotus Roofings Limited – Financial Statements
A quick look into the past financial performance of the company to understand its performance of business and evaluate the growth prospectus:
Financial Summary:
On the basis of Standalone statement:-
| Amount (in INR & lakhs) | ||||
| 30-Jun-18 | 31-Mar-18 | 31-Mar-17 | 31-Mar-16 | |
| Total Assets | 8,118.06 | 8,167.63 | 5,664.37 | 4,572.10 |
| Total Revenue | 7,216.66 | 10,276.90 | 8,434.44 | 6780.04 |
| Total Expense | 7,009.69 | 9,673.88 | 8,085.64 | 6,563.97 |
| Profit After Tax | 176.72 | 412.39 | 206.25 | 77.35 |
Earnings per Equity Share (in lakhs)
| 31-Mar-18 | 31-Mar-17 | 31-Mar-16 | |
| Basic & Diluted | 3.44 | 1.72 | 0.70 |
From the above statements, one could find that the Lotus Roofings Limited may perform well.
Lotus Roofings IPO – Promoters
The Promoters of this company are:
- Mr. Vasanadu Govind
- Poly Tough Tubes Limited
List of Related Parties (Key Managerial Personnel)
- Mr. Subbiah Venkatachalam – Chief Financial Officer (CFO)
- Mr. S Raghavan – Company Secretary and Compliance Officer
Interest in promotion of the Company
Company is currently promoted by the Promoters in order to carry on its present business. Promoters are interested in the Company to the extent of their shareholding and directorship of the Individual Promoter in the Company and the dividend declared, if any, by the Company. The Promoters are interested in the transactions entered into the Company and the Promoter Group.
Property Interest
The promoters along with the promoter group will continue to hold collectively some percentage of the equity share capital of the company. As a result of the same, they will be able to exercise significant influence over the control of the outcome of the matter that requires approval of the majority shareholders vote.
Interest in Intellectual Rights of the Company
Promoters has not shown any interest in acquiring the intellectual rights of the company.
Lotus Roofings IPO Offer Details or Issue Details
| Particulars | No. Of Equity Shares |
| Equity Shares Offered | Issue of 45,60,000* Equity Shares of face value of Rs. 10/- each for cash at a price of Rs. [●] per equity share aggregating to Rs. [●] Lakhs |
| Of which: | |
| Reserved for Market Makers | [●] Equity Shares of face value of Rs. 10/- each for cash at a price of Rs. [●] per equity share aggregating to Rs. [●] Lakhs |
| Net Issue to the Public | [●] Equity Shares of face value of Rs. 10/- each for cash at a price of Rs. [●] per equity share aggregating to Rs. [●] Lakhs |
| Of which: | |
| Retail Investors Portion | [●] Equity Shares of face value of Rs. 10 each fully paid-up for cash at price of Rs. [●] per Equity Share aggregating to Rs. [●] Lakhs i.e. 50% of the Net Issue shall be available for allocation Retail Individual Investors |
| Non-Retail Investors Portion | [●] Equity Shares of face value of Rs. 10 each fully paid-up for cash at price of Rs. [●] per Equity Share aggregating to Rs. [●] Lakhs i.e. 50% of the Net Issue shall be available for allocation for Investors other than Retail Individual Investors |
| Equity Shares outstanding prior to the Issue | 12,000,000 Equity Shares |
| Equity Shares outstanding after the Issue | Upto [●] Equity Shares |
Lotus Roofings IPO Issue Object
These are the IPO Issue Objects of the company
- To meet Working Capital Requirement
- Repayment of a portion of loans
- General Corporate purpose and
- To meet the Issue Expenses
Lotus Roofings IPO – Basis of the Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- Diversified Product Portfolio and Strong Brand Image
- Diversified market presence
- Quality Assurance and Standards
- Extensive Dealer Network
- Dealing with overseas suppliers
- Research and Development
- Customer Satisfaction
- Strong financial position and profitability
The relevant quantitative factors are:
| Basic & Diluted EPS | RONW in % | NAV (Rs.) | |
| 31-Mar-16 | 0.70 | 6.10 | – |
| 31-Mar-17 | 1.72 | 13.71 | – |
| 31-Mar-18 | 3.44 | 21.51 |
17.45 |
- Price to Earnings (P/E) ratio in relation to Issue Price of [●] per Equity Share of face value of Rs. [●] each
| Particulars | P/E ratio |
| Highest | 17.74 |
| Average | 15.60 |
| Lowest | 13.46 |
- Competitive Peers:
| Sr. No. | Particulars | Face Value (in Rs.) | Basic EPS (In Rs.) | P/E Ratio | RONW (%) | NAV (In Rs.) |
| 1 | Bansal Roofing Products Limited | 10 | 3.64 | 13.46 | 10.22 | 32.05 |
| 2 | Dhabriya Polywood Limited | 10 | 3.71 | 17.74 | 12.10 | 32.21 |
| 3 | Lotus Roofings Limited | 10 | 3.44 | – | 21.51 | 15.98 |
Lotus Roofings IPO Lead Managers
| Lead Managers |
| HEM SECURITIES LIMITED 904, A Wing, 9th Floor Naman Midtown, Senapati Bapat Marg, Elphinstone Road Mumbai-400013, India. Tel :+91 22 4906 0000 Email: ib@hemsecurities.com Investor Grievance Email: redressal@hemsecurities.com Website: www.hemsecurities.com Contact Person: Anil Bhargava SEBI registration number: INM000010981 |
Lotus Roofings IPO Registrar to offer
| Registrar to the Offer |
| KARVY FINTECH PRIVATE LIMITED Karvy Selenium Tower B, Plot 31-32, Gachibowli, Financial District, Nanakramguda, Serilingampally, Hyderabad – 500032, Telangana, India. Tel No: +91 40 6716 2222 Email: lotusroofings.ipo@karvy.com Investor Grievance Email: einward.ris@karvy.com Website: www.karisma.karvy.com Contact Person: Mr. M Murali Krishna SEBI Registration Number: INR000000221 |
Other Details:
- Statutory Auditor – M/s. P. Ramanujam & Co.
- Peer Review Auditor – NA
- Bankers to the Company – DBS Bank India Limited, Yes Bank Limited and Axis Bank Limited.
Lotus Roofings IPO Review by Top 10 Stock Brokers
| Top Stock Brokers Review | Company Reputation | Competitive Edge | Financial Statement | Popularity Index | Promoters Reputation |
| Angel Broking | 7.5/10 | 7.4/10 | 8.5/10 | 8.1/10 | 7.1/10 |
| Sharekhan | 7.2/10 | 7.1/10 | 8.6/10 | 8.1/10 | 7.2/10 |
| Kotak Securities | 7.3/10 | 7.5/10 | 8.4/10 | 8.1/10 | 7.3/10 |
| ICICI Direct | 7.3/10 | 7.3/10 | 8.7/10 | 8.1/10 | 7.1/10 |
| IIFL | 7.5/10 | 7.2/10 | 8.8/10 | 8.0/10 | 7.1/10 |
| Edelweiss | 7.5/10 | 7.4/10 | 8.4/10 | 8.3/10 | 7.2/10 |
| Zerodha | 7.4/10 | 7.1/10 | 8.5/10 | 8.1/10 | 7.0/10 |
| 5Paisa | 7.1/10 | 7.1/10 | 8.4/10 | 8.1/10 | 7.1/10 |
| Karvy | 7.4/10 | 7.3/10 | 8.2/10 | 8.1/10 | 7.1/10 |
| Motilal Oswal | 7.1/10 | 7.1/10 | 8.6/10 | 8.3/10 | 7.2/10 |
Lotus Roofings IPO Grey Market Premium
The Lotus Roofings IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is X.
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