Harshdeep Hortico is primarily engaged in the business of designing, developing, manufacturing and supplying various types of pots and planters. This is a new company that was incorporated in December 2022. Their products include more than 500 different variants of pots, planters and related accessories.
Examples of their products include Plastic Indoor Planters, Outdoor Planters, Illuminated Planters, Roto Moulded Planters, Fiber Reinforced Plastic (FRP) Planters, etc. They also supply related accessories like garden hose pipes and water cans. They have also recently entered into the field of Roto Moulded Outdoor Furniture.
Currently, they have 2 manufacturing units situated at Bhiwandi and Pune in Maharashtra, along with three stores located in Delhi, Pune and Rajahmundry in Andhra Pradesh. They also have 4 distributors in Hyderabad, Kolkata, Chandigarh and Visakhapatnam, who are exclusively dealing in their products. They provide an Omni-channel experience to customers through their website as well as their presence in online marketplaces such as Amazon and Flipkart and social media platforms. Currently, they market our products to around 27 states and union territories in India. The largest portion of the revenue comes from the state of Maharashtra.
In the previous few decades, Floriculture in India has witnessed phenomenal growth. The sector is expected to grow to $5.9 billion by 2030 with a CAGR of 7.4% in the period 2021-2030. With the market growing at a global scale, organised players like Harshdeep Hortico will have a better chance of growth in the coming years.
Harshdeep Hortico Ltd IPO Details
Harshdeep Hortico Ltd IPO Dates
The dates for bidding for the Harshdeep Hortico IPO are yet to be announced.
Harshdeep Hortico Ltd IPO Price Band
Harshdeep Hortico is a book-built IPO. The exact price is yet to be announced.
Harshdeep Hortico Ltd IPO Lot Size
The Harshdeep Hortico Ltd IPO lot size is not announced yet.
Harshdeep Hortico Ltd IPO Objectives
The net proceeds from the IPO issue are proposed to be utilised towards the following objectives:
- Repayment and/or pre-payment, in full or part, of certain borrowings availed by the company.
- To meet working capital requirements.
- General corporate purpose.
Peer Details
As per DRHP, there are no listed companies in India that are in a business similar to that of Harshdeep Hortico.
How To Check the Allotment Status of the Harshdeep Hortico Ltd IPO?
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Contact Details of Harshdeep Hortico Ltd.
Registered office: Building No.1 Shree Sai Logistics, Survey No.18/2E 18/2P 17/2A, 17/2B Part, Elkunde, Bhiwandi, Thane- 421302, Maharashtra, India.
Phone: +91-94245-04224
E-mail: cs@harshdeepindia.com
IPO Financials
| Particulars | Period Ending on July 31, 2023 |
|---|---|
| Total Income | 1,482.84 |
| Profit After Tax | 177.24 |
| Return on Capital Employed | 12.28% |
| Debt Service Coverage Ratio | 3.61 |
| Current Ratio | 1.51 |
Know before investing
Strengths
2The company has a diverse product portfolio of over 500 products in various colours and sizes across various segments of pots and planters.
Their sources of revenue are not limited to a single state. While the majority of the revenue comes from the state of Maharashtra, which contributes 41.99% of total revenue, this is followed by Andhra Pradesh, which contributed 11.34%, Karnataka contributed 7.78%, Delhi contributed 7.45%, Tamil Nadu contributed 5.57% and Gujrat contributed 5.45%.
Risks
2They source their raw materials requirement indigenously. A major portion of their purchases for the period ending July 31, 2023, is from the state of Maharashtra, which is 95.98% of the total purchases. This creates a risk of too much concentration of their sources of inputs and any disruption of the supply chain in Maharashtra can disrupt their business.
They have a very short span of operating history as a company. Therefore, it may be hard to look at any form of consistent performance over the years before making an investment.
