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AN TEXTILE MANUFACTURING VETRAN
TRUSTED OVER 2O YEARS
PROFITABLE BUSINESS
NO DIRECTLY LISTED PEER
MAKE YOUR BET NOW FOR YOUR NEXT MULTI BEGGAR
Incorporated in 2003, Swaraj Suiting Limited manufactures, produces, and supplies textile products. The firm mainly operates in three key business verticals; Manufacturing of Grey Fabric, Weaving on Job Work basis, and Trading of Finished Fabric, Grey Fabric, and Yarn.
Initially, the company was engaged in the manufacturing of cotton/synthetic fabrics but later shifted to trading in the synthetic fabric in 2009 by selling off its Sulzer weaving looms to an associate concern, Swaraj Sulz Private Limited. The business re-entered into manufacturing Cotton and Synthetic fabric in 2011 and started commercial operations in January 2013.
Its manufacturing facility is situated at Bhilwara, Rajasthan, having a total production capacity of approx. 1.50 million meters of fabric per month. It is also in the process of setting up a denim processing plant at Neemuch, Madhya Pradesh (MP).
Objectives of ipo :
The IPO aims to utilize the net proceeds towards the following purposes
To meet the working capital requirements for the new expansion of production capacity at Neemuch, Madhya Pradesh.
Meet issue related expense.
General Corporate Purpose.
Financials
Valuation
IPO DETAILS
Strength
Strong Promoters, Experienced management team, and Well-defined organizational structure
Strong supplier base for sourcing of raw materials/ products
Smooth flow of operations
Quality Assurance and Standards
Customer-Centric services and scalable business model
Weakness
Company do not have any competitive advantage and net margin of company is very low .
Company is in capital intensive business therefore in order expand further, promoter might lose control company due to equity dilution.
Raw material price is highly influenced my international market; therefore, company is vulnerable to supply and price shocks.
Company do not ability to create long term wealth creation due to lack of vision.
Capital market is high volatile right now due to geo political tensions and interest rate hikes therefore strong response to IPO of company is not expected.
Peer performance
Should you invest or not ?
SME IPO are more those investors who has very high-risk appetite and want to take bet especially in current time when liquidity is low, interest rate hikes are coming and geo political tensions are going on.
Companies’ financials are not attractive and is vulnerable to competition killing the business due to already low margins.
Company leveraging might be high in future due to capital intensive industry leading to low EPS for investors.
It is advisable to avoid this IPO considering macro and micro fundamentals.
Key words ;
Low margin, geo political tensions ,capital intensive, high leveraging, fundamentals .
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