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₹127 - 127
SK Minerals & Additives Ltd
ChemicalsIPOSME
₹127 - 127
As of this Red Herring Prospectus, our company is engaged in the business of trading and manufacturing of specialty chemicals, with a primary focus on food and feed additives. Our product portfolio includes Glycinates and EDTAs in variants such as Zinc, Copper, and Magnesium, along with Mineral Mixtures, Calcium Propionate, Ferric Pyrophosphate, Technical Grade Urea, Virgin Base Oil, Magnesium Oxide, By-Pass Fat etc.
Lot1,000Min Invest₹2,54,000Face Value₹10Issue Size₹41 CrFresh Issue₹41 CrListing Price₹145CMP₹410
Timeline
10 Oct
Bidding opens
14 Oct
Bidding closes
15 Oct
Allotment
16 Oct
Refund & demat credit
17 Oct
Listing
Subscription
Subscription opens once dates are announced
Reports
Offer Details
Terms
Issue Size₹41 Cr0.32 Cr shares
Fresh Issue₹41 Cr
Face Value₹10
Lot Size1,000 shares
ReservationQIB 49.97% · NII 15.01% · RETAIL 35.02%
Application Sizes
Retail₹2,54,0001-1 lots
sNII₹2,54,000from 2 lots
bNII₹10,16,000from 8 lots
Managers & Registrar
Lead ManagerKhambatta Securities Ltd
RegistrarMaashitla Securities Pvt Ltd
Ownership & Proceeds
Shareholding
CategoryPre IPOPost IPOPromoter Group100%73.52%Public0%26.48%
Objects of the Issue
- Working Capital Requirement
- To fund the expansion plan of the Company i.e. Capital expenditure towards purchase of Plant and Machinery
- General Corporate Purpose
Financials
Profit & Loss
| Financial Year | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| RevenueCr | 121 | 132 | 109 | 212 | 318 |
| Operating ProfitCr | 2 | 4 | 7 | 19 | 32 |
| OPM% | 1.8 | 3.0 | 6.3 | 9.0 | 10.1 |
| PBTCr | 2 | 3 | 4 | 15 | 27 |
| PATCr | 2 | 2 | 3 | 11 | 18 |
| EPS | 926 | 25 | 9 | 12 | 17 |
Balance Sheet
| Financial Year | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Equity CapitalCr | 0 | 2 | 5 | 9 | 12 |
| ReservesCr | 3 | 5 | 8 | 15 | 68 |
| BorrowingsCr | 11 | 24 | 35 | 45 | 100 |
| Total AssetsCr | 25 | 38 | 54 | 75 | 186 |
Cash Flow
| Financial Year | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Operating Cash FlowCr | -4 | -11 | -9 | -3 | -75 |
| Investing Cash FlowCr | -2 | -2 | -2 | -1 | -18 |
| Financing Cash FlowCr | 6 | 14 | 13 | 7 | 89 |
| Net Cash FlowCr | 0 | 0 | 2 | 3 | -4 |
Strengths & Risks
Strengths · as stated in the DRHP
- Strong Capex growth in past 3 years.
- Company efforts in transition from sole trading company to manufacturing company.
- Ability to provide products as per customer satisfaction.
- Ability to scout for new opportunities and capitalising the same.
- Consistent track record of growth and financial performance.
- Ability to serve diverse customer needs.
Strategies · as stated in the DRHP
- Leverage our R&D capabilities to enhance and development of new products in our Product Portfolio.
- Expansion of Manufacturing Facilities.
- Expand sustainable manufacturing and develop eco-friendly product lines
- Optimize our product mix and enhance manufacturing efficiency.
Risks · as stated in the DRHP
- The company has certain outstanding litigations against the company, an adverse outcome of which may adversely affect its business, reputation and results of operations.
- The company's manufacturing operations at its facility in Khanna, Ludhiana, Punjab were commenced without receiving prior Consent to Establish from the State Pollution Control Board, which may expose the company's to regulatory and compliance-related risks.
- The company were manufacturing certain products at the company's manufacturing facility for which the company did not have the CTO issued by the State Pollution Control Board.
- The Company has significant purchases of traded goods from the related parties. The higher dependency on purchases with related parties exposes the Company to risk related to business.
- Tthe company's revenues are significantly dependent on trading activities, with limited contribution from manufacturing operations, which exposes the company's to certain business and operational risks.
- A significant portion of the company's purchases for trading operations comprise imported products, exposing it to global supply chain risks, foreign exchange fluctuations, and regulatory uncertainties.