Dindigul Farm Product (EnNutrica) IPO: Review, Valuation & GMP

Dindigul Farm Product (EnNutrica) Limited IPO: Complete Overview

Dear readers today we are ready with IPO details of Dindigul Farm Product (EnNutrica) Limited IPO. Dindigul Farm Product (EnNutrica), founded in 2010, primarily processes whole milk and skimmed milk to produce dairy ingredients such as milk protein concentrates, skimmed milk powder, dairy whitener, whey protein concentrate, milk whey powder, casein, unbranded cream, butter, and fat-filled powders for infant milk formulas. Their manufacturing facility in Dindigul spans 15 acres. The company's products have been distributed in over 15 states across the country, as well as three nations worldwide.

The company had 101 employees as of December 23, 2023, and they have additionally hired contract workers dependent on business needs.

The company is all set to offer its IPO on June 20, 2024, So whoever is interested, can take part in the upcoming Dindigul Farm Product (EnNutrica) Limited IPO.

Now we will discuss this IPO's offerings in detail below. 

 

Dindigul Farm Product (EnNutrica) Limited IPO Overview

Dindigul Farm Product (EnNutrica) Limited IPO is a Book Built Issue of 34.83 crores. The issue is a total fresh issue of  64.5 lac shares valued at up to Rs.34.83 Cr. The IPO will open for subscribers on June 20, 2024, and close on June 24, 2024.  Dindigul Farm Product (EnNutrica) Limited's IPO will be placed on the BSE and SME, with a preliminary listing date set for Thursday, June 27, 2024. The price of each share is Rs.51 to Rs.54.

 

 

Company Financial

This is a synopsis of Dindigul Farm Product (EnNutrica) Limited IPO's financial data for the financial year that concluded on 31 March 2022.

• Dindigul Farm Product (EnNutrica) Limited's revenue or turnover is INR 1 crore - 100 crore.

• The net worth of the company has declined by -21.44%.

• EBITDA of the company has declined by -112.25%.

• The overall assets of the company have decreased by -17.90%.

• The liabilities of the corporation have increased by 5.52%.

(Amount in Lacs)

Period	31 Dec 2023	31 Mar 2023	31 Mar 2022
Total Assets	5,123.46	2,899.84	2,995.07
Total Revenue	6,876.65	8,199.34	2,845.07
PAT	588.40	525.79	-420.08
Net worth	393.94	-1,638.46	-2,162.72
Reserve & Surplus	-	-	-
Total Borrowings	2,263.87	2,398.37	2,579.25

 

Revenue Bifurcation

Below are the facts presented in different activities of the company. Let’s have a view on it for a better understanding of the company’s performance.

Cash Flow from Operating Activities:

Net cash flow from operating activities decreased to 112.06 lacs in December 2023, from 630.30 lacs in March 2022.

Cash Flow from Investing Activities:

Net cash involved in investing activities decreased to 68.37 lacs in December 2023, from 262.82 lacs in March 2022.

Cash Flow from Financing Activities:

Net cash flow involved in financing activities increased to 1092.29 lacs in December 2023, from 365.97 lacs in March 2022.

 

 

Country-wise Revenue Bifurcation

(Amount in Lacs)

State	23 Dec 2023	31 Mar 2023	31 March 2022
Poland	-	510.17	-
Sri Lanka	97.97	66.74	-
Vietnam	-	2.17	-
Germany	-	-	161.59
South Korea	-	-	-

 

The Objective of the Issue

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

• Capital Expenditure

• Working Capital Requirements

• General Corporate Purposes

 

Peers of Dindigul Farm Product (EnNutrica) Limited IPO

(Rs. in Lacs)

Company Name	Face Value (Rs.)	EPS (Rs.)	P/E
Dodla Dairy Limited	10	15.84	29.36
Parag Milk Foods Limited	10	6.34	11.55
Modern Dairies Ltd	10	5.21	3.61

 

 

Evaluation

The IPO issue price is Rs.51 to Rs.54 for each share.

Evaluation of P/E Ratio

The P/E Ratio of Dindigul Farm Product (EnNutrica) Limited IPO is not available.

Comparative Analysis with Listed Peers

The average P/E Ratio of the industry is 14.84.

Particulars	P/E Ratio
Highest	29.36
Lowest	3.61
Average	14.84

 

IPO's Strengths 

• Diverse product basket

• Milk procurement process

• Manufacturing Facility

• Quality Assurance and Standards

• Experienced Promoters and Management Team

 

IPO’s Weaknesses 

• The company experienced net losses in Fiscal 2022 and 2021, and failure to achieve profitability in the future may negatively impact its business.

• Increased raw material costs or shortages might impact product pricing and supply, negatively impacting its business, operations, and finances.

• Product contamination can lead to lower sales, liabilities, reputational damage, and regulatory action.

• The company does not get professional or long-term volume purchasing agreements from its customers. If its customers do not renew their supply contracts or place orders, it will negatively impact its business and operations.

 

 

IPO GMP Today

The Latest GMP of Dindigul Farm Product (EnNutrica) Limited IPO is Rs.68.

 

Dindigul Farm Product (EnNutrica) Limited IPO Timetable (Tentative)

Dindigul Farm Product (EnNutrica) Limited IPO is scheduled from June 20 to June 24, 2024, with allotment on June 25, refund initiation on June 26, and listing on June 27, 2024.

Events	Date
IPO Opening Date	June 20, 2024
IPO Closing Date	June 24, 2024
IPO Allotment Date	June 25, 2024
Refund initiation	June 26, 2024
IPO Listing Date	June 27, 2024

 

Dindigul Farm Product (EnNutrica) Limited IPO Details 

Dindigul Farm Product (EnNutrica) Limited IPO with a face value of Rs.10 per share is set to start on June 20 and close on 24 June and will offer a fresh issue size of 6,450,000 shares (aggregating up to Rs.34.83 Cr)

IPO Opening & Closing Date	June 20, 2024 to June 24, 2024
Face Value	Rs.10 per share
Issue Price	Rs.51 to Rs.54
Lot Size	2000 shares
Price of 1 lot	Rs. 1,08,000
Issue Size	6,450,000 shares (aggregating up to Rs.34.83 Cr)
Offer for sale	Nil
Fresh Issue	6,450,000 shares (aggregating up to Rs.34.83 Cr)
Listing at	BSE, SME
Issue Type	Book Built Issue IPO
Registrar	Link Intime India Private Ltd

 

 

Dindigul Farm Product (EnNutrica) Limited IPO Lot Details 

Dindigul Farm Product (EnNutrica) Limited IPO allows retail investors to invest in a minimum and maximum of 1 lot (2000 shares) at Rs.1,08,000 while for HNI investors, the minimum lot is 2 (4000 shares) at Rs.2,16,000.

Minimum Lot Investment (Retail)	1 lot
Maximum Lot Investment (Retail)	1 lot
HNI (Min)	2 lot

 

Dindigul Farm Product (EnNutrica) Limited IPO Reservation

QIB share Portion	50%
Retail Investors’ Share Portion	35%
NII (HNI) shares offered	15%

 

Promoters and Management of Dindigul Farm Product (EnNutrica) Limited IPO

• R Rajasekaran

• Rajadharshini Rajasekaran

• Indrayani Biotech Limited.

 

Dindigul Farm Product (EnNutrica) Limited IPO Lead Managers

• Beeline Capital Advisors Pvt Ltd 

 

Dividend Policy

The company has not paid any Dividends in the last 3 years.

 

Conclusion

Dindigul Farm Product (EnNutrica) Limited IPO has previously experienced negative cash flows from investing and financing activities in the period that ended December 23, 2023, and in Fiscal 2023, Fiscal 2022, and Fiscal 2021.

So if you’re looking to invest in its coming IPO, do an extensive study on the firm, its finances, commercial prospects, and industry trends before investing in its IPO. 

We believe this blog would be very beneficial to you if you are considering investing in this upcoming IPO since this blog would provide you with accurate information about the company's, insights, financials, and past performance. If the information and figures presented in this blog match your interest, you might be interested in joining and earning the benefits for the market.

For all such latest information on upcoming IPOs, keep visiting our website.

 

 

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: This IPO analysis is only for informational purposes and should not be considered as investment advice. Always do your research and consult with a financial advisor.

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