Billwin Industries Limited

LISTED

SME IPO · IPO Guide

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Issue Price

₹37

Listed On

30 Jun 2020

Listing Price

₹36.90 (-0.27%)

Current Price LIVE

₹36.90 (-0.27%)

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Lot Size Calculator

Application	Lots	Shares	Amount
Retail	2	6,000	₹2,22,000
HNI Min	3	9,000	₹3,33,000

Company has shown average results and issue is priced at P/E of around 231 as per annualised FY20 earnings, which very aggressively priced in current scenario. Performance of BRLM is good. So we give AVOID rating to this SME IPO.

Mumbai based Billwin Industries Ltd is engaged in the manufacturing of protective gear which are life jackets, inflatable boats, and rainwear. The raw material for manufacturing protective gear (called Coated Fabric) is purchased by the company from domestic and international markets. The product range of the company includes rainwear coat, rucksack, life jackets, winter jacket, inflatable boats dinghys, river raft boat, sleeping bags, facial mask, and pulsar jacket. The manufacturing unit of the company is located at Bhandup West Mumbai Maharashtra with approximately 5190 sq. ft area. This facility is equipped with semi-automatic and automated equipment. The company sells products through tenders and distributors & retailers. The distribution channel of the company covers Maharashtra, Kerala, Gujrat, Chattisgarh, Tamilnadu, Assam, Haryana, and Trivandrum Tripura. The company also sells products through e-commerce platforms such as Amazon, Flipkart, Shopcules Xerve, and Buy Hatke. On the financial performance front, for the last three fiscals, BIL has reported turnover/net profits of Rs. 0.46 cr. / Rs. 0.003 cr. (FY17), Rs. 1.85 cr. / Rs. 0.11 cr. (FY18) and Rs. 0.61 cr. / Rs. 0.11 cr. (FY19). For the period ended on 05.03.2020 of FY20, it has earned a net profit of Rs. 0.03 cr. on a turnover of Rs. 0.38 cr. Thus the company has shown inconsistency in turnover/profits. For the last three fiscals, BIL has posted an average EPS of Rs. 1.17 and an average RoNW of 67.70%. RONW as at 05.03.2020 is 1.27% and will further decline if we consider it on a post-issue equity basis. On BRLM's front for Gretex Corporate Services Limited, this is the 20th IPO in the last three fiscals (including the ongoing). Out of last ten listing, one opened at discount and the rest with premiums ranging from 0% to 10% on the day of listings. As of now from last 10 IPOs, 3 are trading below issue price and remaining above or near issue price. ( As on 20.06.2020 ) Company has shown average results and issue is priced at P/E of around 231 as per annualised FY20 earnings, which very aggressively priced in current scenario. Performance of BRLM is good. So we give AVOID rating to this SME IPO.

Fresh Issue

1
Funding the working capital requirements of the Company ( Rs 1.92 Cr )Issue related expenses ( Rs 0.54 Cr )
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Funding the working capital requirements of the Company ( Rs 1.92 Cr )
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Issue related expenses ( Rs 0.54 Cr )
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All matter published here is purely for educational and information purposes only and under no circumstances should be used for making investment decision
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Readers must consult a qualified financial advisor prior to making any actual investment decisions, based on information published on this applicatio
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With entry barriers, SEBI wants only well informed investors to participate is such SME offer
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With crazy recent listings, SME IPOs have started drawing attention of investors across the boar
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However, as SME issues have entry barriers and continued low preference from broking community, any reader taking decisions based on any information published here does so entirely at own ris
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Above information is based on information available as on date coupled with market perception

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Disclaimer

No financial information whatsoever published herein, should be construed as an offer to buy or sell securities, or as information to make investment decisions, or as an official confirmation of any transaction. All matter published herein is purely for educational and informational purposes only and under no circumstances should be used for making investment decisions. Readers must consult a qualified financial advisor prior to making any actual investment decisions.

💬 Community Discussion

2 Comments

M
murali A 26 Jun 2020, 00:14

hi
D
dsp rathore 22 Jun 2020, 14:48

report

As on Date	Combined (QIB + NII)	RII	Total
Shares Offered / Reserved	3,15,000	3,15,000	6,30,000
Day 1 18-06-20	5,25,000 (1.67)	21,000 (0.07)	5,46,000 (0.87)
Day 2 19-06-20	5,25,000 (1.67)	21,000 (0.07)	5,46,000 (0.87)
Day 3 22-06-20	6,78,000 (2.15)	1,83,00 (0.58)	8,61,000 (1.37)

Period	Total Income	Total Expenses	Profit After Tax (PAT)
01.04.19 to 05.03.20 FY20	0.38	0.34	0.03
FY19	0.61	0.44	0.11
FY18	1.85	1.68	0.11
FY17	0.46	0.46	0.00

Open Date	Jun 18, 2020
Close Date	Jun 22, 2020
Allotment Date	Jun 26, 2020
Listing Date	Jun 30, 2020
Face Value	₹ 10 Per Equity Share
Issue Price	₹ 37 Per Equity Share
Issue Size	Fresh Issue of Up to 6,66,000 with aggregating up to Rs 2.46/- Cr
Retail Min Lot	1 Lot (3,000 Shares - ₹ 1,11,000)
Lead Manager	Gretex Corporate Services Limited

Billwin Industries Limited

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