Platinum Industries (MAINBOARD)
February 27, 2024 – February 29, 2024
| Price | ₹162 - ₹171 |
| Premium | ₹87 |
|---|---|
| Lot size | 87 |
| Allotment | Mar 1, 2024 |
| Listing | Mar 5, 2024 |
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Shareholding Pattern
Subscription
Last Updated as on 29-Feb-2024 17:57:00
| Category | Offered | Applied | Times |
|---|---|---|---|
| QIBs | 2752245 | 415616400 | 151.01 |
| HNIs | 2064249 | 292701669 | 141.8 |
| HNIs (10+L) | 1376166 | 190540788 | 138.46 |
| HNIs (2-10L) | 688083 | 102160881 | 148.47 |
| Retail | 4816494 | 245221680 | 50.91 |
| Total | 9632988 | 953539749 | 98.99 |
| Total Application : 3,305,455 | |||
| QIB Interest Cost per share (7 Days) | |||||
|---|---|---|---|---|---|
| @7% ₹34.67 | @8% ₹39.62 | @9% ₹44.57 | @10% ₹49.52 | @11% ₹54.48 | @12% ₹59.43 |
| Big HNI (10+L) Cost per lot (7 Days) |
|---|
| Assuming fix interest of ₹2000 per application Big HNI (10+L) costing for every 1 lot allotment is ₹55384 |
About
| Category | Lot(s) | Qty | Amount | Reserved |
|---|---|---|---|---|
| Retail | 1 | 87 | 14877 | 55361 |
| sHNI | 14 | 1218 | 208278 | 565 |
| bHNI | 68 | 5916 | 1011636 | 1130 |
Platinum Industries Anchor Details
| Name of the Anchor Investors | Qty | % | Amt (cr) |
|---|---|---|---|
| Baring Private Equity India AIF 2 | 14,62,035 | 35.42 | 25 |
| Elara India Opportunities Fund | 10,28,688 | 24.92 | 17.59 |
| Saint Capital Fund | 4,09,422 | 9.92 | 7 |
| Leading Light Fund VCC – The Triumph Fund | 3,50,871 | 8.5 | 5.99 |
| Antara India Evergreen Fund Ltd | 2,92,407 | 7.08 | 5 |
| NAV Capital VCC – NAV Capital Emerging Star Fund | 2,92,407 | 7.08 | 5 |
| Astorne Capital VCC Arven | 2,92,407 | 7.08 | 5 |
| Total | 41,28,237 | 100 | 70.58 |
Founded in August 2016, Platinum Industries Limited specializes in manufacturing stabilizers, including PVC stabilizers, CPVC additives, and lubricants. These products find applications in various industries such as PVC pipes, electrical wires, SPC floor tiles, and packaging materials.
The company's manufacturing facility, located in Palghar, Maharashtra, spans over 21,000 square feet of land.Over the six-year period from 2018 to 2023, the company has witnessed remarkable growth, with its revenue from operations increasing at a CAGR of 42.11%, reaching ₹2,340.56 crore in 2023.By July 2023, Platinum Industries Limited has expanded its reach with the establishment of twelve distribution centers across India. As of May 31st, 2023, the company's production unit employs 71 employees and 17 workers.
Platinum Industries IPO Details
| Issue Size | 13761225 shares (aggregating up to ₹[235.32] Cr) |
| Fresh Issue | 13761225 shares (aggregating up to ₹[235.32] Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 41163648 |
| Share holding post issue | 54924873 |
Platinum Industries IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15% of the Net Issue |
Platinum Industries IPO Lead Manager(s)
- Unistone Capital Pvt Ltd
Key Performance Indicator
KPI | 2023 | 2022 | 2021 |
ROE | 90.02% | 132.39% | 138.63% |
ROCE | 56.85% | 52.51% | 74.28% |
D/E | 0.28 | 1.09 | 0.73 |
RONW | 61.26% | 79.45% | 107.66% |
EPS BASIC & DILUTED | 9.42 | 4.41 | 1.24 |
P/BV | 11.13 | ||
P/E | 18.73 |
Strength Factors
Consistent Financial Performance: The Company demonstrates stable and reliable financial results over time, indicating effective management and operational efficiency.
R&D and Sustainability: With a focus on research and development, the company invests in innovative and sustainable practices, ensuring long-term viability and competitiveness.
Varied Product Portfolio Catering to Diversified Industries: The Company offers a diverse range of products serving multiple industries, reducing dependency on a single market segment and enhancing revenue stability.
High Entry Barriers in the Specialty Chemical Industry: The industry demands substantial investment, stringent regulations, and specialized knowledge, creating obstacles for new entrants and securing the company's market position.
Quality Products: Known for delivering high-quality products, the company maintains customer satisfaction, loyalty, and brand reputation, contributing to its success and market leadership.
Risk Factors
Dependence on Single Manufacturing Facility: The company's sole manufacturing facility in Palghar, Maharashtra, exposes it to significant risks from local disruptions and production interruptions. Any such events could severely impact operations and financial stability.
Under-utilization of Manufacturing Capacities: Inefficiencies in utilizing manufacturing capacities, including failure to optimize expanded facilities, may hinder operational effectiveness and long-term financial performance.
Compliance Challenges: Past instances of delayed regulatory filings and noncompliance raise concerns about the company's adherence to legal requirements, potentially leading to penalties and reputational damage.
Unrealized Capital Expenditure Plans: Despite intentions to allocate funds for capital expenditure, the lack of progress in executing investment plans, such as machinery procurement, creates uncertainty about the company's ability to achieve its growth objectives.
Company Financials
Platinum Industries Limited Financial Information (Restated Consolidated)
Platinum Industries Limited's revenue increased by 22.89% and profit after tax (PAT) rose by 111.76% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period | Mar 2023 | Mar 2022 | Mar 2021 |
| Assets | 121.17 | 84.48 | 32.26 |
| Revenue | 232.56 | 189.24 | 89.53 |
| Profit | 37.58 | 17.75 | 4.82 |
| Net Worth | 61.88 | 22.34 | 4.47 |
| Reserves | 21.80 | 21.28 | 3.53 |
| Borrowing | 17.43 | 24.24 | 3.26 |
| Amount in ₹ Crore | |||
Strength
Weakness
Latest Announcements
| Date | Subject | Attachment Text |
|---|
Financial Results
Lead Manager(s)
Address
Platinum Industries Limited
Unit No. 841, 4th Floor, Solitaire Corporate
Park-8, Andheri Kurla Road
Andheri (E), Mumbai –400093
Phone: +91 7304538055
Email: cs@platinumindustriesltd.com
Website: https://platinumindustriesltd.com/