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Reliance Securities’ IPO Report
Sah Polymers Ltd. is primarily engaged in manufacturing and selling of polypropylene/ high density polyethylene FIBC bags, woven sacks and HDPE/PP woven fabrics-based products of different weight, sizes and colours as per customers specifications. Presently, the company has one manufacturing facility with installed production capacity of 3960 million tonnes per annum located at Udaipur, Rajasthan.
The company has two business divisions: domestic sales and exports. It offers customized bulk packaging solutions to business-to-business manufacturers, catering to different industries such as agro pesticides, basic drug, cement, chemical, fertiliser, food products, textile, ceramic and steel.
Sah Polymers is a del credere associate cum consignment stockist of Indian Oil Corporation Ltd. and operates as dealer operated polymer warehouse of IOCL for their polymer division.
During FY20-22, its revenue and profit after tax clocked compound annual growth rate of 28% and 284% respectively, while Ebitda margin increased from 3.7% in FY20 to 8.7% in FY22.
Sah Polymers is coming up with an initial public offering comprising of fresh issues of ~10.2 million shares, aggregating to Rs 663 million.
The company will utilise the funds for setting up its new manufacturing facility, repayment of borrowings, funding capex requirements and general corporate purposes.
Click on the attachment to read the full IPO report:
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