Platinum Industries Limited – Globe Capital Market LTD.
Platinum Industries Limited
Closed
Price Band
₹162 to ₹171
IPO Issue Period
Feb 27, 2024 to Feb 29, 2024
Issue Size
₹235.32 Cr
Face value
₹ 10
Fresh issue
₹235.32 Cr
Offer for sale
NIL
Minimum Shares for Retail
87 Shares
Listing on
NSE, BSE
Issue Type
Book Building
Registrar to the Issue
Bigshare Services Pvt Ltd
Tentative Listing Date
March 5, 2024
QIB
50%
NII
15%
Retail
35%

Unistone Capital Pvt Ltd

Incorporated in August 2016, Platinum Industries Limited is a company that specializes in producing stabilizers. The company manufactures PVC stabilizers, CPVC additives and lubricants.

The company’s products are used in PVC pipes, PVC profiles, PVC fittings, electrical wires and cables, SPC floor tiles, Rigid PVC foam boards, packaging materials, etc.

The manufacturing facility of the company is situated in Palghar, Maharashtra, and spreads across 21,000 sq. ft. of land.

The revenue from operations grew at a CAGR of 42.11% in six years, from ₹284.19M in 2018 to ₹2,340.56M in 2023.
As of July 2023, the company has twelve distribution centres spread across India.
.
As of May 31st, 2023, the production unit has 71 employees and 17 workers.

For year/ period ended ( in Cr.)

Particulars H1FY23 FY22 FY21
Total Revenue 232.56 189.24 89.53
Profit After Tax 37.58 17.75 4.82
EPS 9.42 4.41 1.24
OPM (%) 23.27% 13.47% 8.47%
PATM (%) 16.24% 9.43% 5.39%

 

For year/ period ended ( in Cr.)

Company Name Market Cap (Cr.) Price P/BV P/E Sales (Cr.)
FY23
Net Profits(Cr.)
FY23
Platinum Industries Ltd. *939 171 8.09 18.15 234.21 36.2
Apcotex Industries Ltd. 2,456.93 473.9 4.85 39.77 1,070.07 61.77
Supreme Petrochem Ltd. 13,633.94 725.05 7.08 36.38 5,062.54 374.79

 

*Market cap @upper band of Rs. 171/-

  • It has consistent financial performance;
  • Research & Development and Sustainability;
  • Varied product portfolio catering to diversified industries;
  • High entry barriers in the specialty chemical industry and quality Products
  • Experienced and qualified leadership and management team.
  • Investment in the subsidiary, Platinum Stabilizers Egypt LLC (“PSEL”), for financing its capital expenditure requirements about the setting up of a manufacturing facility for PVC Stabilizers at SC Zone ‘Governorate of Suez Egypt’
  • Funding of capital expenditure requirements of the company towards setting up of a manufacturing facility for PVC Stabilizers at Palghar, Maharashtra, India
  • Funding working capital requirements of our Company; and General corporate purposes.

At the upper band of Rs 171, the stock is valued at 18.5 times. Hence, investors may subscribe it up for the medium to long term rewards.

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