Shree Tirupati Balajee Agro Trading Company Ltd specialises in the manufacturing and supply of Flexible Intermediate Bulk Containers (FIBC), also known as Jumbo Bags.
Their product range includes various types of FIBC bags, such as Type D static dissipative bags, Type C conductive bags, UN Certified bags for hazardous goods transportation, food-grade bags, and more. These bags are designed to handle loads ranging from 500 kg to 2,500 kg and are crucial in industries like construction, agriculture, and chemicals, among others.
The company operates two business divisions: Domestic Sales and Exports. Domestically, it has a presence across multiple Indian states, including Telangana, Maharashtra, and Uttar Pradesh, reflecting a wide national footprint based on sales data from the current and previous financial years.
Internationally, Shree Tirupati Balajee Agro Trading is a significant exporter from India, reaching over 38 countries across six continents. Key export markets include Australia, the USA, Canada, and European countries like Sweden and Germany.
Industry Outlook
- India dominates FIBC exports, accounting for 70% in 2022, fueled by government policies and global trade, with growing industrialisation increasing demand for efficient storage and transportation solutions.
- Nearly 85% of India’s FIBC production is exported to 65 countries, with the market expected to expand significantly from 2020 to 2030 due to rising domestic and international demand.
Shree Tirupati Balajee IPO Objectives
The company plans to allocate the net proceeds from the issuance to the following purposes:
- Repayment and/or prepayment of some outstanding borrowings by the Company and its subsidiaries, Honourable Packaging Private Limited, Shree Tirupati Balajee FIBC Ltd., and Jagannath Plastics Pvt. Ltd.
- Funding the incremental working capital requirements of the Company.
- General corporate purposes.
Peer Details
The companies considered by Shree Tirupati Balajee Agro Trading Company as its peers include:
- Commercial Syn Bags Limited
- Emmbi Industries Limited
- Rishi Techtex Limited
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Contact Details of Shree Tirupati Balajee Agro Trading Company Ltd
Registered office: Plot No.192, Sector 1, Pithampur, Dhar, Madhya Pradesh-454775, India
Phone: 0731-4217400
E-mail: info@tirupatibalajee.net
IPO Financials
| Particulars | Year ending on March 31, 2024 | Year ending on March 31, 2023 |
|---|---|---|
| Revenue from operations (in ₹ lakh) | 53,966.08 | 47,543.33 |
| Total Income (in ₹ lakh) | 55,282.11 | 47,813.65 |
| Profit After Tax (PAT) (in ₹ lakh) | 3,607.27 | 2,071.80 |
| Cash & Cash Equivalents (in ₹ lakh) | 30.67 | 508.62 |
| Net Worth (in ₹ lakh) | 17,306.50 | 11,021.19 |
| Debt to Equity Ratio(x) | 1.41 | 1.98 |
| Return on Capital Employed (RoCE) (%) | 16.29 | 13.39 |
| Total Borrowings (in ₹ lakh) | 24,368.72 | 22,380.73 |
Know before investing
Strengths
4Shree Tirupati Balajee Agro Trading Company caters to various industries, such as chemicals, agriculture, and food. Its broad FIBC product line ensures stable and visible future revenue streams.
Their state-of-the-art manufacturing facilities are ideally located near Mumbai with excellent connectivity to major ports and highways, enhancing distribution efficiency and reducing costs.
The company holds ISO 9001:2015 and ISO 22000:2018 certifications, with rigorous quality controls at every production stage, ensuring high standards and client satisfaction.
With an installed capacity of approximately 2,300 Mt/month and nearly full utilisation at 2,200 Mt/month, the company demonstrates strong operational efficiency and growth potential.
Risks
4As of September 30, 2023, Shree Tirupati Balajee Agro Trading Company Limited faces contingent liabilities, including substantial corporate guarantees and tax demands that, if materialised, could significantly impact the company's financial health.
Failure to meet quality standards or adapt to technological changes could harm the company's reputation and financial performance.
The company is vulnerable to fluctuations in foreign exchange rates, particularly between the Indian Rupee and the USD, which have historically affected its cash flows and financial results. Such fluctuations could lead to financial losses, impacting overall profitability.
Increasing global and national scrutiny on plastic use poses a substantial threat. With many economies, including India, moving to restrict or ban plastic products.
