Standard Glass Lining Technology ltd

Incorporated in September 2012, Standard Glass Lining Technology Limited is a manufacturer of engineering equipment for the pharmaceutical and chemical sectors in India. The company has the capability to manage the entire production process in-house.

The company provides turnkey solutions, including design, engineering, manufacturing, assembly, installation, and standard operating procedures for pharmaceutical and chemical manufacturers.

The company’s product product portfolio includes

  • Reaction Systems;
  • Storage, Separation and Drying Systems; and
  • Plant, Engineering and Services

The company manufactures specialized engineering equipment using glass-lined materials, stainless steel, and nickel alloy.

The company’s customer includes Apitoria Pharma Private Limited, Aurobindo Pharma Limited, CCL Food and Beverages Private Limited, Cohance Lifesciences Limited, Cadila Pharmaceutical Limited, Deccan Fine Chemicals (India) Private Limited, Dasami Lab Private Limited, Laurus Labs Limited, Granules India Limited, Macleods Pharmaceuticals Limited, MSN Laboratories Private Limited, Natco Pharma Limited, Honour Lab Limited, Hetero Drugs Limited, Hetero Labs Limited, Hazelo Lab Private Limited, Piramal Pharma Limited, Sanvira Biosciences Private Limited, Suven Pharmaceuticals Limited, Tagros Chemicals India Private Limited, Vamsi Labs Limited and Viyash Life Sciences Private Limited.

The company has eight manufacturing units situated in Hyderabad, Telangana.

The company’s sales offices are situated in Vadodara, Gujarat, Ankleshwar, Gujarat, Mumbai, Maharashtra and Vishakhapatnam, Andhra Pradesh and sales team members are in Jhagadia, Gujarat, Chennai, Tamil Nadu, New Delhi, Bengaluru, Karnataka and Vijayawada, Andhra Pradesh with pan-India reach.

As of September 30, 2024, the company had 460 full-time employees and 731 contract labourers.

Competitive Strength

  1. Specialised engineering equipment manufacturers for the pharmaceutical and chemical sectors.
  2. Customized and innovative range of products throughout the entire pharmaceutical and chemical manufacturing value chain.
  3. Strategically located manufacturing facilities with advanced technological capabilities.
  4. Long term relationships with marquee clientele across sectors.
  5. Consistent track record of profitable growth.

Standard Glass Lining Technology Limited Financial Information (Restated Consolidated)

Standard Glass Lining Technology Limited’s revenue increased by 10% and profit after tax (PAT) rose by 12% between the financial year ending with March 31, 2024 and March 31, 2023.

Period Ended30 Sep 202431 Mar 202431 Mar 202331 Mar 2022
Assets756.52665.38347.79298.11
Revenue312.1549.68500.08241.5
Profit After Tax36.2760.0153.4225.15
Net Worth447.8409.92156.6769.91
Reserves and Surplus261.58389.18139.9453.66
Total Borrowing173.8129.3281.9669.81
Amount in ₹ Crore

Key Performance Indicator

The market capitalization of Standard Glass Lining IPO is Rs 2792.88 Cr.

KPI as of Sun, Mar 31, 2024.

KPIValues
ROE20.74%
ROCE25.49%
Debt/Equity0.32
RoNW20.74%
PAT Margin10.92
Price to Book Value5.70
 Pre IPOPost IPO
EPS (Rs)3.253.64
P/E (x)43.0438.5
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 September 30, 2024 that is available in RHP.

Objects of the Issue (Standard Glass Lining IPO Objectives)

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

  1. Funding of capital expenditure requirements of the Company towards the purchase of machinery and equipment;
  2. Repayment or prepayment, in full or in part, of all or a portion of certain outstanding borrowings availed by the Company and investment in the wholly owned Material Subsidiary, S2 Engineering Industry Private Limited, for repayment or prepayment, in full or in part, of all or a portion of certain outstanding borrowings availed by S2 Engineering Industry Private Limited, from banks and financial institutions;
  3. Investment in the wholly owned Material Subsidiary, S2 Engineering Industry Private Limited, for funding its capital expenditure requirements towards purchase of machinery and equipment;
  4. Funding inorganic growth through strategic investments and/or acquisitions and
  5. General corporate purposes

Standard Glass Lining IPO Details

IPO DateJanuary 6, 2025 to January 8, 2025
Listing Date[.]
Face Value₹10 per share
Price Band₹133 to ₹140 per share
Lot Size107 Shares
Total Issue Size2,92,89,367 shares
(aggregating up to ₹410.05 Cr)
Fresh Issue1,50,00,000 shares
(aggregating up to ₹ 210.00 Cr)
Offer for Sale1,42,89,367 shares of ₹10
(aggregating up to ₹200.05 Cr)
Issue TypeBook Built Issue IPO
Listing AtNSE, BSE
Share Holding Pre Issue18,44,91,662 shares
Share Holding Post Issue19,94,91,662 shares

Standard Glass Lining IPO Promoter Holding

The Promoters of the Company are Nageswara Rao Kandula, Kandula Krishna Veni, Kandula Ramakrishna, Venkata Mohana Rao Katragadda, Kudaravalli Punna Rao and M/s S2 Engineering Services.

Share Holding Pre Issue72.49%
Share Holding Post Issue 

SHARIAH SCREENING for - Standard Glass Lining Technology 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.
Allah knows best.
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