Thu Sep 05 07:35:56 UTC 2024: – Shree Tirupati Balajee Company is launching an IPO with a fresh issue of Rs. 122.43 crores and offer for sale worth Rs. 47.23 crores, totaling Rs. 169.65 crores.
– The company manufactures flexible intermediate bulk containers (FIBCs) and other industrial packaging products and operates through five manufacturing units.
– The FIBC industry in India is experiencing significant growth, with the company expected to benefit from rising demand in sectors like chemicals, food, construction materials, and agriculture.
– Shree Tirupati Balajee reported revenue of Rs. 539.66 crores in FY24, with a net profit of Rs. 36.07 crore.
– The company’s debt-to-equity ratio improved from 2.03 in FY23 to 1.41 in FY24, and its RoE and RoCE saw significant increases.
– The shares of Shree Tirupati Balajee Ltd were trading at a 9.64% premium in the grey market as of September 3rd, 2024.
– The company faces competition from peers like Commercial Syn Bags Limited, Emmbi Industries Limited, and Rishi Techtex Limited, but it has outperformed in terms of revenue size, PAT margins, EBITDA margin, RoE, and RoCE among its peers.

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