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₹143 - 143
Mittal Sections Ltd
SteelIPOSME
₹143 - 143
Our company is a leading manufacturer of an extensive range of Mild Steel sections and structural steel products, including MS Flat Bars, MS Round Bars, MS Angles, and Channels. These products are produced in compliance with various BIS standards, primarily IS 2062: 2011, ensuring consistent quality and high performance across all applications.
Lot1,000Min Invest₹2,86,000Face Value₹10Issue Size₹53 CrFresh Issue₹53 CrListing Price₹114CMP₹24
Timeline
7 Oct
Bidding opens
9 Oct
Bidding closes
10 Oct
Allotment
13 Oct
Refund & demat credit
14 Oct
Listing
Subscription
Subscription opens once dates are announced
Reports
Offer Details
Terms
Issue Size₹53 Cr0.37 Cr shares
Fresh Issue₹53 Cr
Face Value₹10
Lot Size1,000 shares
ReservationQIB 5.26% · NII 47.37% · RETAIL 47.37%
Application Sizes
Retail₹2,86,0001-1 lots
sNII₹2,86,000from 2 lots
bNII₹10,01,000from 7 lots
Managers & Registrar
Lead ManagerWealth Mine Networks Pvt Ltd
RegistrarBigshare Services Pvt Ltd
Ownership & Proceeds
Shareholding
CategoryPre IPOPost IPOPromoter Group99.93%67.98%Public0.07%32.02%
Objects of the Issue
- To Capital expenditure towards acquisition of land, construction of factory building and purchase of plant and machineries
- To meet working capital requirements
- Full or part repayment and/or prepayment of certain outstanding secured borrowings availed by the company
- General corporate purposes
Financials
Profit & Loss
| Financial Year | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| RevenueCr | 149 | 167 | 161 | 137 | 149 |
| Operating ProfitCr | 3 | 3 | 5 | 7 | 8 |
| OPM% | 2.0 | 1.8 | 3.3 | 5.4 | 5.0 |
| PBTCr | 1 | 1 | 3 | 5 | 5 |
| PATCr | 1 | 1 | 2 | 3 | 3 |
| EPS | 2 | 1 | 2 | 4 | 4 |
Balance Sheet
| Financial Year | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Equity CapitalCr | 3 | 3 | 3 | 8 | 12 |
| ReservesCr | 2 | 2 | 4 | 2 | 46 |
| BorrowingsCr | 14 | 20 | 15 | 21 | 25 |
| Total AssetsCr | 32 | 33 | 29 | 45 | 99 |
Cash Flow
| Financial Year | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Operating Cash FlowCr | 7 | -4 | 7 | 0 | -6 |
| Investing Cash FlowCr | -1 | -1 | 0 | -4 | -37 |
| Financing Cash FlowCr | -6 | 5 | -7 | 4 | 46 |
| Net Cash FlowCr | 0 | 0 | 0 | 0 | 3 |
Strengths & Risks
Strengths · as stated in the DRHP
- Wide Range of Products.
- Strong relationship with customers and suppliers.
- Experienced management team with industry expertise.
Strategies · as stated in the DRHP
- Expansion of manufacturing facilities.
- Strengthen our customer base by growing existing customer business and acquiring new customers.
- Reduction of operational costs and improving operational efficiencies.
- Strengthen our brand value.
Risks · as stated in the DRHP
- There are outstanding legal mattersinvolving our Company, Promoters and Directors. Any adverse decisions could divert management time and attention and have an adverse effect on our business, prospects, results of operations and financial condition.
- Our revenues are highly dependent on our operations in geographical region of state of Gujarat. Any adverse development affecting our operations in this region could have an adverse impact on our business, financial condition and results of operations.
- Several of our key raw materials and components are sourced from a limited group of third-party suppliers giving rise to supplier concentration risks. Any restrictions in supply or defects in quality could cause delays in project construction or implementation and impair our ability to provide our services to customers at a price that is profitable to us, which could have a material adverse effect on our business, financial condition and results of operations.
- We may continue to derive a material portion of our revenue from our top five customers and our financial dependence on our top five customers poses a potential risk. A reduction in business from these top five customers or any other major clients could have negative implications for both our revenue and profitability.
- Labour-Intensive Operations and the Potential Risks of Workforce Disruptions.
- We have not been able to obtain certain records of educational qualifications one of our Director and Senior Managerial Personnel, and have relied on certificates and affidavits furnished by them for such details of their profile, included in this Draft Red Herring Prospectus.