About Company’s Business:
The company engages in the production of fish meal, fish oil, and fish soluble paste, crucial components in the creation of aqua feed (for fish and shrimp), poultry feed (for broiler and layer), and pet food (for dogs and cats). Additionally, fish oil has diverse applications in pharmaceutical products, with the EPA-DHA extraction serving as an ingredient in nutraceuticals. It is also utilized in soap manufacturing, leather tanneries, and paint industries, as per information from a CRISIL Report. The company markets its products both domestically and internationally, exporting to over 10 countries. Furthermore, the company, through its associate EPPL, has ventured into the production and sale of insect meal and insect oil.
About the Industry:
Fish meal serves primarily as a protein-rich component in Compound Feeds. The aquaculture industry is the main driving force behind the demand for fish meal and fish oil in India. The production of these products relies on the natural availability of fishes and the prevailing climatic conditions. In terms of value, the industry is anticipated to experience a growth rate of 5-9% from fiscal year 2022 to 2026, reaching â‚ą 16-20 billion.A new protein source in the global animal feed industry is emerging through insect-based nutrition, propelled by factors such as high protein content, lower water and land requirements, etc., as indicated by the CRISIL Report
Key Financial Information (â‚ą in million):
| Particulars | For the six months period ended September 30 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Equity Share capital | 220.00 | 220.00 | 220.00 | 55.00 | |
| Net worth attributable to Equity Shareholders of our Company | 1,591.05 | 1,289.16 | 872.45 | 645.41 | |
| Revenue from Operation | 6,060.94 | 11,771.22 | 7,705.03 | 6,038.34 | |
| Total Revenue | 6,128.81 | 11,838.04 | 7,761.45 | 6,099.52 | |
| Restated Profit for the period/year attributable to Equity Shareholders of our Company | 323.36 | 440.75 | 242.08 | 89.76 | |
| Basic earnings per share | 1.47 | 2.00 | 1.10 | 0.41 | |
| Diluted earnings per share | 1.47 | 2.00 | 1.10 | 0.41 | |
| Return on Net Worth for equity shareholders | 20.32% | 34.19% | 27.75% | 13.91% | |
| Net Asset Value per Equity Share | 7.23 | 5.86 | 3.97 | 2.93 | |
| Total borrowings | 3,177.28 | 2,548.29 | 1,734.99 | 1,591.93 |
Objective of the Issue:
- Funding working capital requirements of our Company
- Investment in our Associate, viz. Ento Proteins Private Limited, for funding its working
capital requirements - General corporate purposes
For more detailed information, you can refer to the IPO Prospectus (RHP) filed by the company.
| Important information regarding the IPO | |
|---|---|
| Open Date | Thursday, February 29, 2024 |
| Close Date | Monday, March 4, 2024 |
| Issue Size | â‚ą224.00 Crores |
| Price | â‚ą26 to â‚ą28 per share |
| Lot Size | 535 Shares |
| Basis of Allotment | Tuesday, March 5, 2024 |
| Initiation of Refunds | Wednesday, March 6, 2024 |
| Credit of Shares to Demat | Wednesday, March 6, 2024 |
| Listing Date | Thursday, March 7, 2024 |
How to apply for this IPO?
You can locate the redirection link to the IPO on the home screen of the Dhan App. Alternatively, you can access it by navigating to the “Money” Section at the bottom right and swiping right to reach the “IPO” Tab.
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