Exxaro Tiles IPO: Key Details
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Exxaro Tiles Limited, incorporated in 2007, is engaged in the manufacturing and marketing of vitrified tiles used majorly for flooring solutions. They commenced business as a manufacturer of frit, which is one of the raw materials used in the manufacturing of tiles and have over the years, diversified, expanded, and evolved into a manufacturer for vitrified tiles. Their brand series include Topaz Series, Galaxy Series, High Gloss Series, etc.
Their operations are broadly divided into two product categories:
- Double Charge Vitrified Tiles: Tiles that are fed through a press that prints the pattern with a double layer of pigment, 3 to 4 mm thicker than other types of tiles.
- Glazed Vitrified Tiles: Flat slabs manufactured from ceramic materials such as clay, feldspar and quartz and other additives. These tiles are coated with glaze materials prior to the firing process.
Some of their key product development highlights include:
- 3D Effect in Double Charge Vitrified Tiles
- Replica of Natural Stones in Double Charge Vitrified Tiles
- High transparent glaze in weight method for glazed vitrified tiles.
- State-of-the-art manufacturing facilities with strong focus on design and quality
- Widespread sales and dealers network
- Wide product portfolio comprising 1000+ designs
- Experienced management and dedicated employee base
- Strengthen brand value
- Expand dealer network in existing markets and increase export presence
- Increase sales by enhancing manufacturing capacities and procuring materials on outsourced basis
- Continue to improve operating efficiencies through technology enhancements and setting up own gas station
Proceeds from fresh issue of Exxaro Tiles IPO will be used to:
- Prepayment/repayment of certain secured borrowings availed by the Company;
- Funding the working capital requirements of the Company; and
- General corporate purposes
The proceeds from the Offer for Sale shall be received by the Selling Shareholder
Exxaro Tiles IPO: Financials
|Revenue from Ops||₹242.25 Cr||₹240.74 Cr||₹255.15 Cr|
|Profit before Excep*||₹7.68 Cr||₹12.17 Cr||₹17.16 Cr|
|Profit after Tax||₹8.92 Cr||₹11.26 Cr||₹15.22 Cr|
|As of March 2020||EPS (Avg*)||P/E (Floor)||P/E (Cap)|
|Based on basic EPS||3.83||30.81||31.33|
Exxaro Tiles IPO: Comparison with listed industry peers
|Highest (Orient Bell)||61.20|
|Lowest (Asian Granito)||9.89|
Exxaro Tiles IPO Dashboard
|Issue Size||₹161.09 Cr|
|Fresh Issue||₹134.23 Cr|
|Offer for Sale||₹26.86 Cr|
|Face Value||₹10/- per Equity Share|
|IPO Price||₹118 – ₹120|
|Lot Size||125 shares|
|Lots||Min 1 – Max 13|
|Initiation of Refunds||12/08/2021|
|Credit of Shares||13/08/2021|
Lot Size and Price
Exxaro Tiles IPO: Investor Quota and Shares Offered
|Investor Type||Quota||Shares on Offer|
|RII (Retail)||35%||[●] shares|
Exxaro Tiles IPO: Risks
- Volatility in the supply and pricing of raw materials and stores & spares
- The shortage or non-availability of power, fuel, and water facilities may adversely affect the vitrified tiles
the manufacturing process and have an adverse impact
- An inability to expand or manage the distribution network for business or the loss of any significant
dealer may adversely affect business
- The company requires significant amounts of working capital for continued growth.
- Failure to manage inventory could have an adverse effect on net sales, profitability, cash flow
For complete internal and external risk factors, you can refer to the RHP of the company.