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Chiraharit Ltd
Plastic productsIPOSME
₹21 - 21
Incorporated in the year 2006, Chiraharit Limited is engaged into turnkey EPC (Engineering, Procurement and Construction) projects focusing on two broad segment viz Water-based and Renewable Energy-based. In the Water sector, our focus is on the efficient and reliable movement of piped water in pressurized applications. Our expertise in water movement extends across diverse sub-sectors, including Solar Module Cleaning Systems, Irrigation Solutions for Agriculture and Landscape, Water Pipeline Solutions for Industrial and Residential Projects and supply of HDPE, UPVC, CPVC, PVC Pipes and Fittings etc. In addition to this, we also undertake construction of Compressed Bio-Gas plants (CBG) and construction of Industrial and Residential Projects.
Lot6,000Min Invest₹2,52,000Face Value₹1Issue Size₹31 CrFresh Issue₹31 CrListing Price₹17CMP₹10
Timeline
29 Sept
Bidding opens
3 Oct
Bidding closes
6 Oct
Allotment
7 Oct
Refund & demat credit
8 Oct
Listing
Subscription
Subscription opens once dates are announced
Reports
Offer Details
Terms
Issue Size₹31 Cr1.48 Cr shares
Fresh Issue₹31 Cr
Face Value₹1
Lot Size6,000 shares
ReservationNII 50% · RETAIL 50%
Application Sizes
Retail₹2,52,0001-1 lots
sNII₹2,52,000from 2 lots
bNII₹10,08,000from 8 lots
Managers & Registrar
Lead ManagerFinshore Management Services Ltd
RegistrarBigshare Services Pvt Ltd
Ownership & Proceeds
Shareholding
CategoryPre IPOPost IPOPromoter Group100%73%Public0%27%
Objects of the Issue
- Funding capital expenditure towards setting up HDPE Ball Valves and Fittings Manufacturing Unit
- Repayment and/or pre-payment in full or part of certain borrowings
- Working capital requirements
- Issue Related Expenses
- General Corporate Expenses
Financials
Profit & Loss
| Financial Year | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| RevenueCr | 24 | 33 | 31 | 60 | 55 |
| Operating ProfitCr | 2 | 2 | 2 | 10 | 1 |
| OPM% | 6.6 | 5.1 | 7.7 | 16.4 | 2.7 |
| PBTCr | 1 | 1 | 1 | 8 | 0 |
| PATCr | 1 | 0 | 1 | 6 | 0 |
| EPS | 4 | 2 | 2 | 2 | 0 |
Balance Sheet
| Financial Year | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Equity CapitalCr | 0 | 0 | 0 | 4 | 5 |
| ReservesCr | 2 | 2 | 3 | 6 | 28 |
| BorrowingsCr | 13 | 16 | 16 | 20 | 11 |
| Total AssetsCr | 18 | 23 | 26 | 41 | 56 |
Cash Flow
| Financial Year | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Operating Cash FlowCr | -4 | 1 | 2 | 2 | 2 |
| Investing Cash FlowCr | -4 | -1 | 0 | -5 | -5 |
| Financing Cash FlowCr | 8 | 0 | -1 | 3 | 13 |
| Net Cash FlowCr | 1 | -1 | 0 | 0 | 11 |
Strengths & Risks
Strengths · as stated in the DRHP
- Established and proven track record.
- Leveraging the experience of our Promoters.
- Experienced management team and a motivated and efficient work force.
- Cordial relations with our customers.
- Quality Assurance & Control.
Strategies · as stated in the DRHP
- Strategic Expansion by Embracing Backward Integration for Sustainable Growth.
- Expanding Horizons by Strengthening Domestic Presence and Entering International Markets.
- Enhance attractiveness through quality execution, cost reduction and continuous training of manpower.
- Investing in Automation Technology.
- Overcoming Regulatory and Market Challenges Strategy by Prioritizing Private Sector Opportunities.
- Exploring New Avenues by Expanding into Renewable Energy and Advanced Water Management.
Risks · as stated in the DRHP
- Our Company, Directors, Promoters and Group Companies are parties to certain legal proceedings. Any adverse decision in such proceedings may have a material adverse effect on our business, results of operations and financial condition.
- EPC projects are typically awarded to us on satisfaction of prescribed pre-qualification criteria and following a competitive bidding process. Our business and our financial condition may be adversely affected if new projects are not awarded to us or if contracts awarded to us are prematurely terminated.
- Dependency on Indian Domestic Market for Revenue.
- We are dependent on and derive a substantial portion of our revenue from a limited number of customers. Cancellation or orders by customers or delay or reduction in their orders could have a material adverse effect on our business, results of operations and financial condition.
- The Company is dependent on a few suppliers for purchases of product/service. The loss of any of these large suppliers may affect our business operations.
- In the Past, there has been an instance of non-compliance for failure to open a separate bank account for receipt of share application money in compliance with Section 42 of the Companies Act, 2013. Due to such lapse, the Company is held liable to penal actions by the regulatory authorities under the Companies.