Malpani Pipes And Fittings Limited IPO

Incorporated in 2017, Malpani Pipes and Fittings Limited is engaged in manufacturing high-grade plastic pipes.

The company offers High-Density Polyethylene (HDPE) Pipes, Medium-Density Polyethylene (MDPE) Pipes, and Linear Low-Density Polyethylene (LLDPE) Pipes, all marketed under its brand name “Volstar”. Additionally, the company is involved in trading granules and PVC pipes, along with selling various services.

The company’s pipes are designed for irrigation, water supply, sewerage, drainage, boreholes, tube wells, and infrastructure projects like electrical cable and optical fiber installations.

The company’s manufacturing plant, located in Ratlam, Madhya Pradesh, is equipped with essential machinery and an in-house testing facility. It operates 10 production lines with a capacity of 11,500 M.T.P.A.
The company distributes products to wholesalers, and retailers, and supplies pipes for government projects through authorized contractors, as well as to farmers under welfare policies.

Products:

  • HDPE Pipes: High-Density Polyethylene (HDPE) pipes, available in 20mm to 2000mm sizes, are used for water supply, irrigation, and industrial piping due to strength, durability, and chemical resistance.
  • MDPE Pipes: MDPE pipes are durable, flexible, and corrosion-resistant, used in water supply, gas distribution, irrigation, mining, and construction projects for reliable performance.
  • Lateral Pipes (LLDPE): Lateral pipes, made from premium HDPE, are durable, flexible, and corrosion-resistant, ideal for irrigation, water supply, and drainage systems.
  • Drip Irrigation Pipes: Drip irrigation pipes efficiently deliver water to plants, conserving water and promoting healthy growth in agriculture, horticulture, and commercial applications.

As of December 31, 2024, the company had 51 full-time employees and 30 contract-based employees.

Competitive Strength:

  • Wide Geographical Reach
  • Strategically located manufacturing facilities with a core focus on quality
  • Diversified product mix
  • Experienced Promoter and strong management team
  • Quality

Malpani Pipes And Fittings Limited Financial Information (Restated)

Period Ended30 Nov 202431 Mar 202431 Mar 202331 Mar 2022
Assets90.7661.3538.9421.3
Revenue84.55141.1682.5734.94
Profit After Tax5.097.42.080.89
Net Worth19.7314.775.833.76
Reserves and Surplus12.0412.423.91.83
Total Borrowing35.7430.2919.598.98
Amount in ₹ Crore

Key Performance Indicator

The market capitalization of Malpani Pipes IPO is Rs 97.00 Cr.

KPI as of Sun, Mar 31, 2024.

KPIValues
ROE71.52%
ROCE21.74%
Debt/Equity2.04
RoNW50.07%
PAT Margin5.25
Price to Book Value1.48
 
 Pre IPOPost IPO
EPS (Rs)37.17 
P/E (x)2.42 
Note:
  • The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2024 that is available in RHP.
  • The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of November 30, 2024 that is available in RHP.

Objects of the Issue (Malpani Pipes IPO Objectives)

The company intends to utilize the Net Proceeds from the issue towards the following objects:

  1. Capital Expenditure for purchase of machineries.
  2. Repayment of Debt
  3. General Corporate Purpose

Malpani Pipes IPO Details

IPO DateJanuary 29, 2025 to January 31, 2025
Listing Date[.]
Face Value₹10 per share
Price Band₹85 to ₹90 per share
Lot Size1,600 Shares
Total Issue Size28,80,000 shares
(aggregating up to ₹25.92 Cr)
Fresh Issue28,80,000 shares
(aggregating up to ₹ 25.92 Cr)
Issue TypeBook Built Issue IPO
Listing AtBSE SME
Share Holding Pre Issue78,97,500 shares
Share Holding Post Issue1,07,77,500 shares
Market Maker Portion1,45,600 shares

Malpani Pipes IPO Promoter Holding

Rohit Malpani, Harsh Malpani and Mohit Malpani are the promoters of the company.

Share Holding Pre Issue100%
Share Holding Post Issue73.28%

SHARIAH SCREENING for - Malpani Pipes And Fittings Limited IPO

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BUSINESS SCREEN

FINANCIAL RATIOS

As per our analysis and Based on the information we have, this is the output.
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