Agarwal Toughened Glass IPO: Price, Review & GMP

Agarwal Toughened Glass IPO-Complete Overview

Agarwal Toughened Glass IPO under the SME IPO category is a book-built issue of Rs.62.64 crore by Agarwal Toughened Glass India Limited, incorporated in October 2009, is a tempered glass manufacturing company. Its products are used in industries such as building shower doors, trays for refrigerators, mobile screen protectors, bulletproof glass for diving masks, and many kinds of plates and cookware.

The company is certified for its Quality Management System under the ISO 9001:2015.

The company caters to office buildings, hotels, institutions, banks, insurance companies, shopping centers, and diplomatic homes.

The portfolio consists of the following:

• Annealed Glass

• Toughened Glasses

• Insulated Glasses

• Laminate Safety Glass

• Heat Soaked Glass

Additionally, the company conducts several tests on its products, such as human impact assessment ball drop, design and visual inspection, annealing evaluation (for residual stress), glass thickness and weight measurement, etc.

Agarwal Glass IPO Overview

This Agarwal Glass IPO date is 28 November 2024, and its ‘initial public offering’ will end on 02 December 2024. 

The Rs.62.64 crore new SME IPO comprises a wholly fresh issue of 58 lac Shares. 

Agarwal Toughened Glass India IPO Price is Rs.105 to Rs.108 for each Share. 

This upcoming IPO date is from November 28 to December 02, 2024. The expected IPO listing date is Thursday, 05 December 2024, and listing at NSE and SME.

To open a demat account and apply for the IPO Click Here

Company Financial

The company’s revenue fell by -0.25% and PAT increased by 795.66% during FYs ending 31 March 2024 and 31 March 2023.

(Amount in Lac)

Revenue Bifurcation

The revenue bifurcation for various activities is shown below:

(Amount in lac)

Sales-wise Revenue Breakdown  

(Amount in lac)

State-wise Revenue Breakdown  

(Amount in lac)

Product-wise Revenue Breakdown  

(Amount in lac)

The Objective of the Issue

The company desires to use the Net Proceeds from the Issue to fulfill its following goals:

• Invest in equipment for the current manufacturing facility.

• Repayment of specific loans.

• To fulfill the increased need for working capital.

• General corporate purposes.

Peers of Agarwal Toughened Glass India Ltd.

Evaluation

The Agarwal Toughened Glass Limited IPO price is Rs.105 to Rs.108 for each Share.

Evaluation of P/E Ratio

Considering the FY ended 31 Mar 2024 with an EPS of Rs.7.31 from the last year, the resulting P/E ratio is 14.77x.

Considering the weighted EPS of Rs.4 for the last three years, the P/E ratio is 27x.

Comparative Analysis With Listed Peers

The average P/E Ratio of the industry is 110.70x.

IPO's Strengths 

• Keep making infrastructural investments.

• Develop new business partnerships.

• Pay attention to continuously achieving quality standards.

• They are increasing the effectiveness of operations.

• A well-established brand in the Indian market.

• A blend of knowledge and experience.

• Long-term connections with our clients.

• Constant attention to quality.

• Robust risk control.

IPO’s Weaknesses

• Dependence on Availability of Raw Materials: Cost and availability fluctuations of such raw materials as silica sand and soda ash affect production costs.

• Competitive Nature of Glass Manufacturing: The market is highly competitive and requires a continuous shift of initiatives for innovation and cost efficiency to keep the lead.

• Economic Dependence: Revenues are closely tied to the performance of the construction and automobile industries as the major clients of the company fall in those sectors.

• Regulatory Risks: Compliance with environmental and labor regulations would have some additional costs.

Agarwal Toughened Glass IPO GMP

Its IPO GMP today is Rs.10 (as of 25 November 2024). With a price of Rs.108, the estimated Agarwal Glass IPO listing price is Rs.118 as of writing this information.

IPO Timetable (Tentative)

The IPO opening date is from November 28 to December 02, 2024, with allotment on December 03, refund initiation on December 04, and listing on December 05, 2024.

Agarwal Toughened Glass IPO Details 

The IPO with a Face Value of Rs.10 per share offers a total issue size of 5,799,600 Shares (Rs.62.64 Cr).

Agarwal Toughened Glass IPO Lot Details 

The IPO allows retail investors to invest in a minimum and maximum of 1 Lot (1200 Shares) amounting to Rs.1,29,600 and in multiples thereof, while for HNI investors, the minimum Lot is 2 (2400 Shares) amounting to Rs.2,59,200.

IPO Reservation (% of Net Issue)

Promoters And Management of Agarwal Toughened Glass Ltd.

• Anita Agarwal

• Mahesh Kumar Agarwal

• Uma Shankar Agarwal

• Sharda Agarwal

Agarwal Glass IPO Lead Managers

• Cumulative Capital Private Limited.

Dividend Policy

The company has not paid dividends in the last three FYs.

Conclusion

Agarwal Toughened Glass IPO is good to go at a possibly undervalued price as it has a P/E of 14.77x compared to an industry average of 110.70x. The company has a very nice footing in the market but has negative aspects such as dependency on raw materials and competition in the market, so it's better to watch its growth and risk factors before investing. The IPO opens on November 28, 2024, and ends on December 2, 2024.

Finowings IPO Analysis

Hope you enjoyed the Finowings IPO Analysis. We tried our best to give every required detail about the company that you should know before applying to the IPO. 

You must consult your financial advisor before making any financial decisions. 

To Apply for the IPO, Click Here.

To Read the Prospectus of the Company Click Here to Download the DRHP.

DISCLAIMER:

DISCLAIMER: NOT any buy or sell recommendation. No investment or trading advice is given. The content is purely for educational and information purposes only. Always discuss with an eligible financial advisor before investing. 

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