Neelam Linens and Garments Ltd IPO

Incorporated in September 2010, Neelam Linens and Garments (India) Ltd is a soft home furnishing company. It processes, finishes, and supplies bedsheets, pillow covers, duvet covers, towels, rugs, doors, shirts, and garments. The company mainly serves discounted retail outlets.

The company’s business can be divided into two parts

  1. Processing and trading of products
  2. Sale of licenses

The company has two manufacturing units situated in Bhiwandi, Thane, Maharashtra.

The company sells its products to domestic and international customers. Its domestic customers include Vijay Sales, Amazon, Meesho, and Amersons stores. Its international clients include stores like Tuesday Morning, TJX, Pem America, Ocean State Job Lot, LinCraft Australia, Big Lots, 99 Cents, and U.S. Polo Assn.

The company currently manufactures 4000 sets per day and its capacity to manufacture is 6000 sets per day.

Competitive Strength:

  1. Selling directly to customers through its own retail stores.
  2. Enhance financial performance by concentrating on operational and functional efficiencies.
  3. Enhanced product portfolio to meet customer needs.
  4. Improving & maintaining functional efficiencies

As of May 15, 2024, the company employs 58 people. Eight of them are on payroll, while 50 work for daily wages as needed.

 

Neelam Linens and Garments (India) Ltd Financial Information (Restated Consolidated)

Neelam Linens and Garments (India) Ltd’s revenue decreased by -0.63% and profit after tax (PAT) rose by 3.43% between the financial year ending with March 31, 2024 and March 31, 2023.

Period Ended30 Jun 202431 Mar 202431 Mar 202331 Mar 202231 Mar 2021
Assets12,050.2312,116.769,967.977,860.136,467.92
Revenue2,195.3910,474.4210,541.1310,379.698,017.82
Profit After Tax80.46246.05237.88298.5841.53
Net Worth2,428.802,348.342,102.301,468.421,169.84
Reserves and Surplus948.80868.341,362.301,448.421,149.84
Total Borrowing7,566.046,964.946,534.025,110.225,259.22
Amount in ₹ Lakhs

Key Performance Indicator

The market capitalization of Neelam Linens and Garments IPO is Rs 48.52 Cr.

KPI as of June 30, 2023.

KPIValues
ROE2.99%
ROCE3.84%
Debt/Equity3.12
RoNW3.31%
P/BV1.46
PAT Margin (%)3.69
 Pre IPOPost IPO
EPS (Rs) 1.661.59
P/E (x) 14.4415.08
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 June 30, 2024 that is available in RHP.

Objects of the Issue (Neelam Linens and Garments IPO Objectives)

p>The company intends to utilize the proceeds of the issue to meet the following objects:

 

  1. Funding capital expenditure requirement of our Company towards the purchase of Embroidery Machines for expansion;
  2. Prepayment or repayment of all or a portion of certain outstanding borrowings availed by the Company;
  3. General corporate purposes;

Neelam Linens and Garments IPO Details

IPO DateNovember 8, 2024 to November 12, 2024
Listing Date[.]
Face Value₹10 per share
Price Band₹20 to ₹24 per share
Lot Size6000 Shares
Total Issue Size5,418,000 shares
(aggregating up to ₹13.00 Cr)
Fresh Issue5,418,000 shares
(aggregating up to ₹13.00 Cr)
Issue TypeBook Built Issue IPO
Listing AtNSE SME
Share holding pre issue14,800,000
Share holding post issue20,218,000
Market Maker portion276,000 shares

Neelam Linens and Garments IPO Promoter Holding

The Promoters of the company are Kantilal Jethva and Bhavin Jethwa.

Share Holding Pre Issue74.18%
Share Holding Post Issue54.29%

SHARIAH SCREENING for - Neelam Linens and Garments (India) Ltd IPO

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BUSINESS SCREEN

FINANCIAL RATIOS

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