Ahmedabad based Sikko Industries Ltd is engaged in manufacturing of Pesticides,organic Pesticides, fertilizers, organic fertilizer, Spray Pump and Organic Seeds.Its products are exported to South Africa, Lomo Togo, Srilanka and Iran.
In addition to manufacturing of pesticides and fertilizer, now the company is in process of starting up of new project of Bio CNG and BIO Fertilizer for which it has applied to UP State Bio Energy Development Board, Lucknow
The promoters :
Mr. Ghanshyambhai Kumbhani
Mr. Jayantibhai Kumbhani
Main object of the IPO :
Working Capital Requirement
Issue Opens on: Apr 5, 2017
IPO closes on :Apr 7, 2017
Issue Type: Fixed Price Issue IPO
Issue Size: 1,600,000 Equity Shares of Rs 10 aggregating up to Rs 5.12 Cr
Face Value: Rs 10 Per Equity Share
Issue Price: Rs 32 Per Equity Share
Minimum Order Quantity: 4000 Shares
Listing proposed at: NSE SME
Total topline/net profits for 2012-13 Rs. 8.63 cr. / Rs. 1.17 crores
Financials :Total topline/net profits for 2013-14 Rs. 11.19 cr. / Rs. 1.29 crores
Financials :Total topline/net profits for 2014-15 Rs. 11.42 cr. / Rs. (-0.03) crores
Financials :Total topline/net profits for 2015-16 Rs. 21.35 cr. / Rs. (-0.05) crores
For First seven months ended on 31.10.16 it has net profit of Rs. 0.61 crore on a turnover of Rs. 13.01 crore.
General Observation :
The asking price is at a P/E of 17 plus and at a P/BV of around 2.1which makes IPO, at first glance an aggressively priced issue.However many a times in SME IPO, listing gains depend on other factors eg speculative movements.