Narmada Bio-chem Limited also trade in chemical compounds and organic fertilisers. The Company started with manufacturing of different grades of NPK fertilizers. Over the years, they have widened their product base and at present their product portfolio includes different types of chemical and organic fertilizers viz. various grades of NPK, Single Super Phosphate (powdered and granulated), organic manure, PROM, mix micro nutrients, water soluble fertilizers, soil conditioners, etc. Narmada Bio-chem Limited IPO comprises of 72,00,000 Equity shares, face value of Rs.10 each.
Let’s have a detailed review of the company and analytics of the Narmada Bio-chem Limited IPO release date, IPO offer price, subscription, Narmada Bio-chem Limited IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters and other related things.
Narmada Bio-chem Limited 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 Narmada Bio-chem Limited IPO
Narmada Bio-chem Limited also trade in chemical compounds and organic fertilisers. The Company started with manufacturing of different grades of NPK fertilizers. Over the years, they have widened their product base and at present their product portfolio includes different types of chemical and organic fertilizers viz. various grades of NPK, Single Super Phosphate (powdered and granulated), organic manure, PROM, mix micro nutrients, water soluble fertilizers, soil conditioners, etc. The face value of the Equity Shares is Rs. 10/- and the Issue Price is X.
From FY 2015-16 to FY 2017-2018, as per the Restated Financial Statements,
- Total revenue decreased by Rs. 28.54 Millions i.e. 1.63% from Rs. 1,745.11 Millions in the fiscal year ended March 31, 2017 to Rs. 1,716.57 Millions in the fiscal year ended March 31, 2018. Total revenue increased by Rs. 537 Millions i.e. 30.77% from Rs.2,282.40 Millions in the fiscal year ended March 31, 2016 to Rs.1,745.11 Millions in the fiscal year ended March 31, 2017.
- For the Fiscals 2018, 2017 and 2016, the revenue from operations was Rs. 1,733.49 Millions, Rs. 1,764.17 Millions and Rs. 2,308.14 Millions respectively.
- In Fiscals 2018, 2017 and 2016, they recorded EBITDA of Rs. 173.21 Millions, Rs. 103.21 Millions and Rs. 194.32 Millions, respectively.
- Net Profit has increased by Rs. 47.64 Millions i.e. 63.20 % from Rs. 75.37 Millions in the fiscal year ended March 31, 2017 to profit of Rs. 122.99 Millions in the fiscal year ended March 31, 2018. Net profit after tax has increased due to increase in overall income of the Company. It has decreased by Rs. 55.15 Millions i.e. 42.25% from profit of Rs 130.52 Millions in the fiscal year ended March 31, 2016 to profit of Rs. 75.37 Millions in the fiscal year ended March 31, 2017. Net profit after tax has decreased due to decrease in revenue from operation of Company.
The Promoter of this company is Mr Dineshbhai Dhirubhai Patel . The lead manager to the issue is Pantomath Capital Advisors Private Limited and the Registrar to this issue is Karvy Computershare Private Limited .
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Narmada Bio-chem Limited IPO Date
The opening and the closing date of Narmada Bio-chem Limited IPO is not known yet.
Narmada Bio-chem Limited IPO Subscription
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| 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.
Narmada Bio-chem Limited IPO Allotment Status
Here, you can find the Allotment Status of this IPO.
Narmada Bio-chem Limited IPO Price Band
The face value of each share is Rs 10, but the price band of the IPO is not yet disclosed.
Narmada Bio-chem Limited IPO Equity Share Offering
72,00,000 Equity Shares of Rs 10/- each but Issue Price each fully paid for cash .
Narmada Bio-chem Limited – Company Overview
Narmada Bio-chem Limited also trade in chemical compounds and organic fertilisers. The Company started with manufacturing of different grades of NPK fertilizers. Over the years, they have widened their product base and at present their product portfolio includes different types of chemical and organic fertilizers viz. various grades of NPK, Single Super Phosphate (powdered and granulated), organic manure, PROM, mix micro nutrients, water soluble fertilizers, soil conditioners, etc. The face value of the Equity Shares is Rs. 10/- and the Issue Price is nil times of the face value.The Company currently have four production facilities: Unit I & II at Changodar, Ahmedabad, Unit III at Malarpura, Kheda and Unit IV at Kalyangadh, Bavla, Ahmedabad.
As at March 31, 2018, these four facilities have a combined installed capacity of around 3,02,000 MT per annum. Each of their manufacturing facilities has the ability to manufacture different type of products, which provides them with the necessary flexibility to cater to changing demands in the market. They conduct in house test and check activities to improve their production processes, improve the quality of their product range and develop new products according to market demand.
The Company is promoted by Mr Dineshbhai Dhirubhai Patel and is the guiding force behind the growth and strategic decisions of the Company.
Competitive Strengths of Narmada Bio-chem Limited:
- Expertise in manufacture of Organic fertilizers
- Wide product range
- Widespread distribution network
- Experienced promoters and dedicated management team
- History of repeat orders
- Location advantage
Business strategies of Narmada Bio-chem Limited:
- Expand our domestic presence and explore international markets At present, we have a widespread distribution network of more than 750
- Capitalise on growing demand for organic fertilisers
- Continue to improve operating efficiencies through technology enhancements
- Enhance our product base
Narmada Bio-chem Limited – Financial Statements
A quick look into the past financial performance of the company is to understand its performance of business and evaluate the growth prospectus.
Financial Summary:
| Amount (in INR & Millions) | |||||
| 31-Mar-18 | 31-Mar-17 | 31-Mar-16 | 31-Mar-15 | 31-Mar-14 | |
| Total Revenue | 1,733.49 | 1,764.17 | 2,308.14 | 1,782.41 | 1,524.07 |
| Total Assets | 1,947.71 | 1,964.71 | 1,810.72 | 1,324.08 | 1,164.84 |
| Total Expense | 1,560.28 | 1,660.96 | 2,113.82 | 1,618.35 | 1,397.03 |
| Profit After Tax | 122.99 | 75.37 | 130.52 | 112.22 | 84.43 |
Earnings per Equity Share (in Millions)
| 31-Mar-18 | 31-Mar-17 | 31-Mar-16 | |
| Basic & Diluted | 7.81 | 4.79 | 8.30 |
From the above statements, one could find that the Narmada Bio-chem Limited may perform well.
Narmada Bio-chem Limited IPO – Promoters
The Promoter of this company is:
- MR. DINESHBHAI DHIRUBHAI PATEL
- ADESHWAR DISTRIBUTORS PRIVATE LIMITED
List of Related Parties (Key Managerial Personnel)
- Dineshbhai D. Patel
- Bhavnaben D. Patel
- Sanjaybhai D. Kumbhani
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.
Narmada Bio-chem Limited IPO Offer Details or Issue Details
| Particulars | No. Of Equity Shares |
| Equity Shares Offered | Upto 72,00,000 Equity Shares aggregating upto Rs [●] Million. |
| Of which: | |
| Reserved for Market Makers | Upto 54,00,000 Equity Shares |
| Net Issue to the Public | Upto 18,00,000 Equity Shares |
| Of which: | |
| Retail Investors Portion | Not less than [●] Equity Shares |
| Non-Retail Investors Portion | Not less than [●] Equity Shares |
| Equity Shares outstanding prior to the Issue | 1,57,40,959 Equity Shares |
| Equity Shares outstanding after the Issue | [●] Equity Shares |
Narmada Bio-chem Limited IPO Issue Object
These are the IPO Issue Objects of the company
- Funding the Working Capital Requirements of the Company;
- General Corporate Purposes.
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Narmada Bio-chem Limited 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:
- Expertise in manufacture of organic fertilizers
- Wide product range
- Widespread distribution network
- Experienced Promoter and dedicated management team
- History of repeat orders
- Location advantage
The relevant quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-14 | – | – | – |
| 31-Mar-15 | – | – | – |
| 31-Mar-16 | 8.30 | 15.98 | – |
| 31-Mar-17 | 4.79 | 8.45 | – |
| 31-Mar-18 | 7.81 | 12.11 | 64.50 |
- Price to Earnings (P/E) ratio in relation to Issue Price of Rs. 45/- per Equity Share of face value of Rs. 10/- each:
| Particulars | P/E ratio |
| P/E ratio based on Basic EPS for FY 2017-18 | 9.87 |
| P/E ratio based on Weighted Average EPS | 15.57 |
- Competitive Peers:
| Particulars | Face Value (in Rs.) | EPS (In Rs.) | P/E Ratio |
| Rama Phosphates Limited | 10 | 3.06 | 28.45 |
| Khaitan Chemicals And Fertilizers Limited | 1 | 0.17 | 65.59 |
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| Fine Organic IPO | IndoStar Capital IPO | Capricorn Food Products IPO | Flemingo Travel Retail IPO |
| Nazara Technologies IPO | Genius Consultants IPO | Rail Vikas Nigam IPO | Varroc Engineering IPO |
Narmada Bio-chem Limited IPO Lead Managers
| Lead Managers |
| Pantomath Capital Advisors Private Limited, 406-408, Keshava Premises Bandra Kurla Complex, Bandra East Mumbai – 400 051 Tel: +91 22 6194 6700 Fax: +91 22 2659 8690 Email: [email protected] Investor Grievance Email: [email protected] Website: www.pantomathgroup.com Contact Person: Mr. Hardik Bhuta SEBI Registration No: INM000012110 |
Narmada Bio-chem Limited IPO Registrar to offer
| Registrar to the Offer |
| Karvy Computershare Private Limited Karvy Selenium Tower B, Plot 31-32, Gachibowli, Financial District, Nanakramguda Hyderabad – 500 032, India Tel: (91 40) 6716 2222 Fax: (91 40 2343 1551 Email: [email protected] Investor Grievance E-mail: [email protected] Website: http://www.karisma.karvy.com/ Contact Person: Mr. M. Murali Krishna SEBI Registration Number: INR000000221 |
Other Details:
- Statutory Auditor – M/s R.S. Patel & Co., Chartered Accountants
- Bankers to the Company – Kotak Mahindra Bank Limited
Narmada Bio-chem Limited 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 |
Narmada Bio-chem Limited IPO Grey Market Premium
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