Marshall Machines IPO – Review, Allotment, Subscription, GMP Price, Date & more

Marshall Machines is in the business of developing, manufacturing and marketing of Machine Tool Equipment.  The firm became known brand in the design and manufacture of high precision bench lathes, heavy duty lathes & capstan lathes. It was amongst first Indian CNC Machine manufacturers and launched CNC Machines way back in 1998. Marshall Machines IPO comprises of 38,70,000 Equity shares of Rs.10 each.

Let’s have a detailed review of the company and analytics of the Marshall Machines IPO release date, IPO offer price, subscription, Marshall Machines IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters and other related things.


Marshall Machines IPO Review & Ratings

Marshall Machines IPO Ratings & Review
Criteria Ratings
Industry Sentiments  6.3/10
Industry Ranking  6.3/10
Company Background 6.1/10
Company Reputation 6.4/10
Competitive Edge 6.4/10
Financial Statements 6.5/10
Popularity Index 6.2/10
Promoters Reputation 6.3/10
Retail Appetite  6.2/10
Top Brokers Review 6.3/10
Overall Ratings  6.3/10
Star Ratings ★★★☆☆

Summary of Marshall Machines IPO

Marshall Machines IPOMarshall Machines Limited is in the business of developing, manufacturing and marketing of Machine Tool Equipment including wide range of single spindle, patented double etc.  The Issue comprises of a Public Issue of 38,70,000 Equity shares of face value of Rs.10 each fully paid (the “Equity Shares”). The Promoter of this company is Mr. Gaurav Sarup and Mr. Prashant Sarup. The lead manager to the issue is SARTHI CAPITAL ADVISORS PRIVATE LIMITED and the Registrar to this issue is BIGSHARE SERVICES PRIVATE LIMITED.

From FY 2014-15 to FY 2016-2017, as per the Restated Financial Statements:

From fiscal 2017 to 2018, company’s revenue from operations and net profit has increased at a growth rate of  17.56% and 15.11%, respectively.

For the period ended  31 March, 2018, FY 2016-17 and FY 2015-16, its revenue from operations was Rs.5,942.43 Lakhs, Rs.5,054.42 Lakhs and Rs.4,390.66 Lakhs, respectively representing growth of 17.56% from the FY 2016-17 to FY 2017-18. For the period ended March 31, 2018, FY 2016-17 and FY 2015-16 our net profit was Rs.746.36 Lakhs, Rs.179.64 Lakhs and Rs.73.09 Lakhs, respectively, representing a growth of 315.47% from the FY 2015-16 to FY 2016-17.

  • During the financial year 2016-17 the Other Income of our company increased to Rs. 5.83 Lakhs as against Rs. 35.37 Lakhs for the financial year 2015-16 .
  • Company’s Net Profit after tax for the year 2017-178is Rs. 500.30 Lacs from the year 2016-17 of Rs. 110.4 Lacs showing an increase of 352.8% from last year, showing remarkable performance.

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Marshall Machines IPO Date

The opening and the closing date of IPO of Marshall Machines is not known yet.


Marshall Machines IPO Subscription

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The shares subscribed by the public will be updated herein on a daily basis, once the IPO is open for subscription.


Marshall Machines IPO Allotment Status

Allotment Status is yet to be disclosed .


Marshall Machines IPO Price Band

The face value of each share is Rs 10, but the price band of the IPO is not yet disclosed. 


Marshall Machines IPO Equity Share Offering

38,70,000 Equity Shares of Rs 10/- each but Issue Price is yet to be disclosed .


Marshall Machines Limited – Company Overview

Marshall Machines Private Limited  Company was incorporated on May 23, 1994 as a private limited company under the provisions of Companies Act, 1956 with Registrar of Companies. Marshall Machines Limited is in the business of developing, manufacturing and marketing of Machine Tool Equipment including wide range of single spindle, patented double and four spindle CNC machines etc.

In 1997, Marshall Industries entered into a technical tie-up with an American Company (M/s Path Wizard Inc.) to export the mechanical & basic electrical elements of CNC Lathes to U.S.A.On April 01, 2006, the Company took over the running business of M/s Marshall Industries on as and where basis by allotting 340,000 equity shares in our Company.

Marshall Machines Limited is in the business of developing, manufacturing and marketing of Machine Tool Equipment including wide range of single spindle, patented double and four spindle CNC machines, automated robotic solutions and patent pending IoTQ suite of intelligent equipment. Moreover, company sells machine parts of the manufactured machines as well to existing machinery buyers.

The Company is promoted by  Mr Gaurav Sarup and Prashant Sarup, who has over a decade of experience in manufacturing industry. He is the guiding force behind the growth and strategic decisions of the Company.

Competitive Strengths of Marshall Machines Limited:

  • Intellectual Property & Proprietary Technology
  • Firm Orders in Hand:
  • Intensive R&D for Smart Tech Development:
  • Unique Business Model driving customer relationships by offering quality
  • Value creation opportunity

Business strategies of Marshall Machines Limited:

  • International Growth Opportunities:
  • Innovation and Quality Standards
  • Customer Satisfaction
  • Realistic product growth strategy backed by successful product development
  • Strong Macroeconomic Tailwinds

Marshall Machines 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:

Amount (in INR & Lakhs)
31-Dec-18 31-Mar-17 31-Mar-16 31-Mar-15 31-Mar-14
Total Assets 7,964.13  6,503.73 5,935.76 5,955.71 5,270.74
Total Revenue 5,942.43  5,054.42 4,390.66 4,257.46 3,928.43
Total Expense 5,196.07  4,874.79 4,317.57 4,216.96 3,837.09
Profit After Tax 500.30    110.49 41.53 24.96 58.76

Earnings per Equity Share (in Lakhs)

31-Dec-18 31-Mar-17 31-Mar-16
Basic  and Diluted 5.47    1.22 0.46

From the above statements, one could find that the Marshall Machines Limited may perform well.


Marshall Machines IPO – Promoters

The Promoter of this company are:

  1. Mr. Gaurav Sarup 
  2. Mr. Prashant Sarup

List of Related Parties (Key Managerial Personnel)

  • Late Shri Gautam Sarup.
  • Mr. Gaurav Sarup
  • Mr. Prashant Sarup
  • Mrs. Archana Sarup
  • Mr. Siddhant Sarup

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.


Marshall Machines IPO Offer Details or Issue Details

 Particulars  No. Of Equity Shares
 Equity Shares Offered 38,70,000 Equity Shares of face value of Rs. 10/- each fully paid-up of the Company for cash at issue price of Rs. [●] per Equity Share aggregating Rs. [●] Lakhs.
 Of which:
 Reserved for Market Makers 1,98,000 Equity Shares of face value of Rs. 10/- each fully paid of the Company for cash at price of Rs. [●] per Equity Share aggregating Rs. [●] Lakhs.
 Net Issue to the Public 36,72,000 Equity Shares of face value of Rs. 10/- each fully paid of the Company for cash at price of Rs. [●] per Equity Share aggregating Rs. [●] Lakhs. 
 Of which:
 Retail Investors Portion 18,36,000 Equity Shares of face value of Rs. 10/- each fully paid of the Company for cash at price of Rs. [●] per Equity Share will be available for allocation to investors up to Rs. 2.00 Lakhs
 Non-Retail Investors Portion 18,36,000 Equity Shares of face value of Rs. 10/- each fully paid of the Company for cash at price of Rs. [●] per Equity Share will be available for allocation to investors above Rs. 2.00 Lakhs
 Equity Shares outstanding prior to the Issue 1,06,80,000 Equity Shares
 Equity Shares outstanding after the Issue 1,45,50,000 Equity Shares

Marshall Machines IPO Issue Object

These are the IPO Issue Objects of the company

  •  Capacity Augmentation;
  •  Upgradation of existing R & D Unit and IOTQ Center;
  •  Establishment of new IOTQ Centers;
  •  Working Capital Requirements;
  •  General Corporate Purpose;
  •  Issue Expenses.

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Marshall Machines 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:

  • Established and proven track record;
  •  Three patents in CNC machine, 12 under process;
  •  Leveraging the experience of our Promoters;
  •  Experienced management team and a motivated and efficient work force;
  •  Cordial relations with our customers;
  •  Quality Assurance & Control;
  •  Research and Development;

The relevant quantitative factors are:

Basic & Diluted EPS RONW (%) NAV (Rs.)
31-Mar-16 1.46 5.47
31-Mar-17 1.22 12.67
31-Mar-18 5.47 43.36 12.62

 


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Marshall Machines IPO Lead Managers

Lead Managers
SARTHI CAPITAL ADVISORS PRIVATE
LIMITED
Unit No. 411, Fourth Floor, Pratap Bhavan,
5 Bahadur Shah Zafar Marg, New Delhi- 110002
Tel: +91 011 23739425-27, Fax: +91 011 23739424
Investor Grievance Email:
Website: www.sarthi.in
Contact Person: Mr. Anand Lakhotia
SEBI Registration No.: INM000012011

Marshall Machines IPO Registrar to offer

Registrar to the Offer
BIGSHARE SERVICES PRIVATE LIMITED

1st Floor, Bharat Tin Works Building, Opp. Vasant Oasis
Makwana Road, Marol, Andheri East, Mumbai – 400059
Tel No.: 022-62638200, Fax No.: 022-62638299;
Website: www.bigshareonline.com
Email: ;
Contact Person: Srinivas Dornala
SEBI Registration No.: INR000001385


Other Details:

  • Statutory Auditor – M/s S. Sood & Co., Chartered Accountants
  • Peer Review Auditor –RPMD & ASSOCIATES Chartered Accountants
  • Bankers to the Company –  Kotak Mahindra Bank Limited

Marshall Machines IPO Review by Top 10 Stock Brokers

Top Stock Brokers Review Company Reputation Competitive Edge Financial Statement Popularity Index Promoters Reputation
Angel Broking 6.5/10 6.6/10 6.6/10 6.4/10 6.4/10
Sharekhan 6.7/10 6.4/10 6.6/10 6.1/10 6.2/10
Kotak Securities 6.7/10 6.7/10 6.7/10 6.4/10 6.3/10
ICICI Direct 6.6/10 6.3/10 6.7/10 6.5/10 6.5/10
IIFL 6.4/10 6.7/10 6.8/10 6.4/10 6.7/10
Edelweiss 6.7/10 6.4/10 6.4/10 6.3/10 6.7/10
Zerodha 6.5/10 6.4/10 6.7/10 6.4/10 6.5/10
5Paisa 6.7/10 6.4/10 6.3/10 6.7/10 6.5/10
Karvy 6.8/10 6.3/10 6.7/10 6.4/10 6.0/10
Motilal Oswal 6.6/10 6.4/10 6.6/10 6.6/10 6.4/10

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