Esprit Stones, a notable player in India’s engineered stones industry, is set to launch its Initial Public Offering (IPO) from July 26 to July 30, 2024.
This IPO presents a unique investment opportunity in a company that has been making waves with its innovative products and robust financial performance.
This article provides comprehensive details about Esprit Stones IPO, including company background, IPO specifics, financial performance, and valuation metrics.
Company Overview: Esprit Stones
Founded in 2016, Esprit Stones has established itself as a significant manufacturer of engineered stones in India. The company’s product portfolio includes:
- Engineered Quartz Surfaces: These are predominantly produced by Esprit Stones, known for their durability and aesthetic appeal.
- Engineered Marble Surfaces: Manufactured through their subsidiary, HSPL, these surfaces offer a blend of elegance and strength.
Esprit Stones is distinguished by its ability to offer a diverse range of colors, styles, designs, and textures, thanks to its advanced design and manufacturing processes.
The company focuses on high-quality production, ensuring consistency, durability, and a refined finish in their products.
Their subsidiary, Addwaya Chemicals, also plays a crucial role by supplying unsaturated polyester resin, a vital component in their engineered stones.
Esprit Stones IPO Details
IPO Opening and Closing Dates: The Esprit Stones IPO will open on July 26, 2024, and close on July 30, 2024.
IPO Size and Pricing: The company aims to raise approximately ₹50.42 crores through this IPO, offering 5,795,200 equity shares.
The price band is set between ₹82 to ₹87 per share, with a face value of ₹10 per share.
Market Lot: The minimum market lot is 1600 shares, making the minimum application amount ₹139,200.
Investment Segments
The IPO is structured to attract a variety of investors:
- Retail Investors: Allocated 35% of the net offer.
- Qualified Institutional Buyers (QIB): Allocated 50% of the net offer.
- Non-Institutional Investors (NII): Allocated 15% of the net offer.
Important Dates for Esprit Stones IPO
- IPO Open Date: July 26, 2024
- IPO Close Date: July 30, 2024
- Basis of Allotment: July 31, 2024
- Refunds Initiation: August 1, 2024
- Credit of Shares to Demat Account: August 1, 2024
- IPO Listing Date: August 2, 2024
Financial Performance of Esprit Stones
Esprit Stones has demonstrated consistent growth over recent years. The financial highlights for the last three fiscal years are as follows:
- FY 2022:
- Revenue: ₹190.03 crores
- Expenses: ₹166.35 crores
- Profit After Tax (PAT): ₹18.51 crores
- FY 2023:
- Revenue: ₹176.07 crores
- Expenses: ₹170.75 crores
- PAT: ₹3.56 crores
- FY 2024:
- Revenue: ₹274.78 crores
- Expenses: ₹260.68 crores
- PAT: ₹10.32 crores
This financial trajectory showcases the company’s resilience and potential for future growth.
Valuation Metrics
Esprit Stones’ valuation metrics for FY2024 are notable and provide a clear picture of the company’s financial health:
- Earnings Per Share (EPS): ₹6.29
- Price/Earnings (P/E) Ratio: 13.04
- Return on Net Worth (RoNW): 15.09%
- Net Asset Value (NAV): ₹44.82 per equity share
Promoters of Esprit Stones
The company’s leadership comprises a team of experienced and dedicated professionals:
- Sunilkumar Lunawath
- Nitin Gattani
- Pradeepkumar Lunawath
- Sangeeta Gattani
- Anushree Lunawath
- Siddhanth Lunawath
These promoters bring a wealth of knowledge and expertise, steering the company towards continuous growth and innovation.
Conclusion
The Esprit Stones IPO offers an exciting investment opportunity in a company that has shown robust growth and innovation in the engineered stones market.
With its diverse product range and strong financial performance, Esprit Stones is poised for future success.
Investors looking for exposure in the SME segment with a focus on innovative building materials might find this IPO appealing.
Be sure to review the IPO details and consult with a financial advisor to make an informed investment decision.