Indian Emulsifiers IPO

Indian Emulsifiers Ltd

₹1,25,000 /1000 sharesMinimum Investment

Indian Emulsifiers IPO DetailsBidding DatesMin. InvestmentLot SizePrice Range
13 May ‘24 - 16 May ‘24₹1,25,0001,000₹125 - ₹132
Issue SizeIPO Doc
42.39CrRHP PDF
About Indian EmulsifiersIndian Emulsifier Ltd is a manufacturer and supplier of specialty chemicals, including Esters, Amphoterics, Phosphate Esters, Imidazolines, Wax Emulsions, SMO & PIBSA Emulsifiers. It manufactures colourants, which are used in Mining, Personal Care, PVC / Rubber, Textile, Cleaning and other industries. Its manufacturing plant is located at Ratnagiri, Maharashtra. The company also has two warehouses located in Maharashtra.
The company’s client base is spread across sectors like Mining, Textile, Cleaning, PVC/Rubber, Personal Care, Food, etc. As of March 31, 2023, it has a production capacity of 4,800 metric tonnes per annum.;
Parent Organisation
Indian Emulsifiers Ltd
Founded
2020
Managing Director
Mr. Yash Tikekar
Strengths & Risks
The company has an in-house manufacturing facility along with in-house Quality Control and Research & Development (R&D) facility. 
The company received the ISO 9001:2015 certification in 2021.
The company manufactures more than 40 Specialty Chemicals & Intermediates for the Mining, Textile, Cleaning Industry, PVC (Poly Vinyl Chloride)/ Rubber, Personal Care, Food and other industries. It also manufactures products based on the needs and requirements of its clients and market. 
The company recorded a consistent rise in Revenue from Operations from inception to the nine months ending December 2023. From NIL revenue in FY21, it increased to Rs. 17.68 crore in FY22, to Rs. 41.18 crore in FY23, and Rs. 48.67 crore in the nine months to December 2023. Profit after tax (PAT) too moved likewise from a loss of Rs 0.004 crore in FY21, to a profit of Rs. 0.04 crore in FY22, to Rs. 3.89 crore in FY23, to Rs. 6.75 crore in the nine months ending December 2023.
The company manufactures colourants that are used in Mining, Personal Care, PVC / Rubber, Textile, Cleaning and other industries. Factors affecting any of these industries in general, or any of the customers in particular, could adversely impact the company’s business. 
The top five customers accounted for 78.70% of the total revenue generated as on March 31, 2023. Any defaults / delays in payments by a major customer could adversely impact the company’s business. 
The company’s top five suppliers accounted for about 94.36%, 91.68%, 91.58% and Nil of its total purchases for the period ended December 31, 2023 and for the financial years ended March 31, 2023, March 31, 2022 and March 31, 2021. Any disruption in supplies from one or more of these suppliers could adversely affect the company’s purchases and business operations.
There are outstanding legal proceedings of the order of Rs. 0.29 cr against the company. Any adverse decisions in these litigations could adversely impact the company’s business.
The company was incorporated on December 5, 2020. Considering this limited operating history of the company, investors may find it difficult to evaluate its historical performance or future prospects.
The company’s existing manufacturing facility is concentrated in a single region, that is, Maharashtra. Any disruption in the business or economic environment of the region could adversely impact the company’s business and financial condition.
The company’s loan agreements for short- and long-term agreements with lenders have restrictive covenants and unconditional rights in favour of the lenders, which could impact its business. 
The company had outstanding loans of Rs. 22.44 crore as of nine months ended December 31, 2023; Rs 20.30 crore for FY23; Rs. 10.69 crore for FY22, and Rs. 0.58 crore for FY21.
Financials
*All values are in Rs. Cr
No Graph Data To Display
Application detailsApply asPrice bandApply upto
Regular₹125 - 132₹2 Lakh
High Networth Individual₹125 - 132₹2 - 5 Lakh
For Indian Emulsifiers IPO, eligible investors can apply as Regular.

Bidding Dates	Min. Investment	Lot Size	Price Range
13 May ‘24 - 16 May ‘24	₹1,25,000	1,000	₹125 - ₹132

Issue Size	IPO Doc
42.39Cr	RHP PDF

Apply as	Price band	Apply upto
Regular	₹125 - 132	₹2 Lakh
High Networth Individual	₹125 - 132	₹2 - 5 Lakh

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