Shree Karni Fabcom Limited IPO

Incorporated in March 2018, Shree Karni Fancom Limited produces customized knitted and woven fabrics for industries such as luggage, medical arch support, chairs, shoes, and apparel. They specialize in Woven Fabrics, Knitted Fabrics, Coated Fabrics, and 100% polyester, and source yarn, resin, acrylic, and coating chemicals to produce specialized technical textiles.

The manufacturing unit has modern, highly automated machines that produce specialized technical textiles with installed capacities of 70k meters/day for weaving, 90k kilos/month for knitting, 50k meters/day for coatings, 15k meters/day for PVC, 8k meters/day for EVA lamination, and 40k meters/day for heat embossing.

Revenue from operations for 8 months ended Nov 30, 2023 was ₹7572.22 lakhs. Fiscals 2021, 2022, 2023 revenue was ₹3287.42 lakhs, ₹8357.36 lakhs, and ₹12694.65 lakhs respectively. Revenue grew at a CAGR of 56.89% during this period.

The company has been awarded a certificate for their management system, ISO 9001:2015 by INTERTEK.

The company sells its products to various contract manufacturers of branded luggage and shoe manufacturers, traders, and others located in 13 states.

As on November 30, 2023, the company has 39 employees in various departments.

 

Shree Karni Fabcom Limited Financial Information (Restated Consolidated)

Shree Karni Fabcom Limited’s revenue increased by 51.87% and profit after tax (PAT) rose by 7.85% between the financial year ending with March 31, 2023 and March 31, 2022.

Period Ended30 Nov 202331 Mar 202331 Mar 202231 Mar 2021
Assets14,124.389,864.255,911.112,743.05
Revenue7,599.4812,704.058,365.183,289.86
Profit After Tax813.44555.25514.84153.48
Net Worth1,912.172,602.241,321.61671.23
Reserves and Surplus1,392.172,502.241,221.61571.23
Total Borrowing9,504.273,658.722,718.091,451.30
Amount in ₹ Lakhs

Objects of the Issue (Shree Karni Fabcom IPO Objectives)

The Company proposes to utilize the Net Proceeds from the Issue towards the following objects:

1. Funding the capital expenditure setting up a dyeing unit in Navsari District, Surat, Gujarat;

2. Funding the purchase of new machinery proposed to be installed at the new unit proposed to be set up for manufacturing bags in Palsana, Surat, Gujarat, with an intent to expand the product portfolio;

3. Funding working capital requirements of the company; and

4. General Corporate Purposes.

Shree Karni Fabcom IPO Timeline (Tentative Schedule)

Shree Karni Fabcom IPO opens on March 6, 2024, and closes on March 11, 2024.

IPO Open DateWednesday, March 6, 2024
IPO Close DateMonday, March 11, 2024
Basis of AllotmentTuesday, March 12, 2024
Initiation of RefundsWednesday, March 13, 2024
Credit of Shares to DematWednesday, March 13, 2024
Listing DateThursday, March 14, 2024
Cut-off time for UPI mandate confirmation5 PM on March 11, 2024

SHARIAH SCREENING for - Shree Karni Fabcom Limited IPO

BUSINESS SCREEN

FINANCIAL RATIOS

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