Company Insights To Invest
Agarwal Float Glass SME IPO subscription is opening on 10th February 2023. According to the prospectus, the IPO consists of a fresh issue of 2,200,000 shares of ₹10 face value aggregating up to ₹9.20 Cr. There is no offer for sales in the IPO issue. The Equity Shares have a face value of Rs 10 each. The retail allocation is 50% of the total size.
Agarwal Float Glass IPO – The Company Business Description
Agarwal Float Glass Limited is in the business of trading glass and specialized glass products across India. The company does not manufacture glass rather it procures these products from suppliers and manufacturers and sells them to its customers.
- The company supplies glass products across industry segments such as office buildings, hotels, institutions, banks, insurance companies, shopping malls, diplomatic residences, etc.
- The products of Agarwal Glass limited mainly consists of clear glass, different kinds of value-added glass products, and processed glass products, of varying thickness.
- The company also offers processed glass including toughened glass, frosted glass, frosted design glass, leaguered glass, figure glass, heat-strengthened glass, insulated glass, PVB laminated glass, bullet-resistant glass, and all building glasses.
- The company claims to have over 35,000 happy customers and has completed over 540 projects.
- Agarwal Float Glass has over 25 years of experience in this business and won over 40 awards.
Agarwal Float Glass Limited Founders and Leadership team
Mr. Uma Shankar Agarwal is the Promoter, Chairman, and Managing Director of the Company. Mahesh Kumar Agarwal is the Promoter and Executive Director of the Company. This is a family business and hence other family members are also shareholders of this company.
Agarwal Float Glass Limited Revenue and Profit
Total revenues from operations for the period ended HY 2023 was ₹2356.30 lakhs. The revenue from operation for FY 2022 has reached ₹4210.22 lakhs from ₹3162.74 in FY 2021. Similarly, the company reported ₹3208.85 lakhs in revenue from operation for FY 2020.
The EBITDA for the period ended HY2023 was ₹427.14 lakhs. The EBITDA for FY 2022 has gone up to reach ₹238.95 lakhs from ₹152.10 lakhs in FY 2021. Profit after tax also went up to ₹101.68 lakhs in FY 2022 from, ₹8.83 lakhs in FY 2020.
Agarwal Float Glass Limited Financial Snapshot
| All amounts in INR Lakhs | |||
| (Year ended March 31) | 2020 | 2021 | 2022 |
| Revenue Operation | 3,208.85 | 3,162.74 | 4,210.22 |
| Total Income | 3,227.43 | 3,188.13 | 4,216.91 |
| EBITDA | 169.39 | 152.10 | 238.95 |
| Profit After Tax | 8.83 | 24.73 | 101.68 |
| Total Borrowings | 1120.38 | 1175.3 | 1141.78 |
| EPS – Diluted | 0.44 | 1.22 | 5.03 |
| Net Cash from Operating Activities | (857.28) | 6.31 | 197.02 |
| Return on Equity Ratio (%) | 10.94 | 31.03 | |
| Return on Capital employed (%) | 10.85 | 16.26 | |
| Debt-Equity Ratio | 5.20 | 3.48 | |
| Inventory turnover ratio | 4.77 | 5.73 | |
| Net Asset Value per equity share | 9.96 | 11.18 | 16.21 |
Objective Behind the Agarwal Float Glass Limited IPO
- Out of the net proceeds of this IPO, the company is planning to spend INR 625 lakhs to Fund the working capital requirements of the company.
- The rest of the net proceeds may be utilized to meet General Corporate Purposes.
Agarwal Float Glass IPO Review: Do you invest?
- Agarwal Float Glass registered a revenue growth from FY2020 to FY2022.
- The company has witnessed significant growth in PAT from INR 8.83 lakh in FY 2020 to INR 24.73 lakh in FY 2021 to reach INR 101.68 lakhs in FY 2022.
- Adjusted EPS has also gone up from 0.44 in FY 2020 to 5.03 in FY2022.
- Net cash flow from operating activities has improved from negative INR (857.28) FY 2020 to positive INR 197.02 FY 2022.
- The company has total borrowing of INR 1167.91 lakhs by the end of September 30, 2022.
- The company seems strong financially and fundamentally.
- Global growth is forecast to slow during 2023 and 2024, with a slowdown in Auto Industries.
- Indian economy is likely to grow over 6.5% on average over the next five years. This will help the end user industry to grow in India and help this company’s top and bottom lines.
- China opening up may be helpful to this industry as well
- Looking at the financials and factors mentioned above, I would prefer to invest in this SME IPO at the moment for the medium term.
Agarwal Float Glass IPO Details
| Agarwal Float Glass IPO Details | Agarwal Float Glass IPO Price, subscription Date and other details |
| Agarwal Float Glass IPO Opening Date | Feb 10, 2023 |
| Agarwal Float Glass IPO Closing Date | Feb 15, 2023 |
| Agarwal Float Glass IPO Fixed Price | ₹42 per share |
| Agarwal Float Glass IPO Allotment date | Feb 20, 2023 |
| Refunds Initiation date | Feb 21, 2023 |
| Credit of Shares to Demat Account | Feb 22, 2023 |
| Listing Date | Feb 23, 2023 |
| Offer for Sale | Nil |
| Issue Size (Fresh Issue) | 2,200,000 shares of ₹10 (aggregating up to ₹9.2 Cr) |
| Minimum bid (lot size) For retail investor | 3000 Shares (₹126,000) |
| Retail Shares Offered | 50% of the Net Issue |
| HNI (Min) | 6000 Shares (₹252,000) |
| NII (HNI) Shares Offered | 50% of the Net Issue |
| Face Value | INR 10 per share |
| Listing on | NSE SME |
Agarwal Float Glass IPO: Lead Managers and Contact
| Contact Details | Lead Managers |
| H-1/790, Sitapura Industrial Area Ext., Near Fire Bridge Office, Jaipur – 302 022, Rajasthan, India Tel: +91 723 004 3211 Email:compliance@agarwafloat.com https://www.agarwalfloat.com/ | 1. GYR CAPITAL ADVISORS PRIVATE LIMITED |
Agarwal Float Glass IPO Allotment Status
Agarwal Float Glass SME IPO Allotment status will be available on KFin Technologies website. To know your allotment status, get ready with your PAN number and click on this link. You may also reach out to Tel: +91 40 6716 2222, Fax: +91 40 2343 1551, Email: afgil.ipo@kfintech.com
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Agarwal Float Glass IPO FAQs
When Agarwal Float Glass SME IPO Opens?
Agarwal Float Glass SME IPO opens on Feb 10, 2023 and closes on Feb 15, 2023
What is Agarwal Float Glass SME IPO Price?
Agarwal Float Glass IPO Fixed Price is ₹42 per share. This is fixed price for this IPO with a face value of ₹10 per share
What is Agarwal Float Glass SME IPO Issue Size?
The Issue Size of Agarwal Float Glass SME IPO is 2,200,000 shares of ₹10 aggregating up to ₹9.2 Cr. This is only Fresh Issue.
What Agarwal Float Glass is doing?
Agarwal Float Glass Limited is in the business of trading glass and specialized glass products across India. The company does not manufacture glass rather it procures these products from suppliers and manufacturers and sells them to its customers.