Established in 2012, Sunlite Recycling Industries Limited specialises in manufacturing copper products by recycling copper scrap. The company produces a wide range of copper rods and wires, copper earthing wires, copper earthing strips, copper conductors, and copper wire rods, catering to power generation, transmission, distribution, and electronics industries.
Sunlite Recycling Industries offers a diversified product portfolio that includes various grades, thicknesses, widths, and standards of copper products tailored to customer specifications. This extensive range demonstrates the company's commitment to meeting diverse customer needs and industry standards.
The company's registered office and manufacturing facility are located in Kheda, Gujarat, encompassing a total area of approximately 12,152 square meters. The facility is equipped with over 20 machines dedicated to the manufacturing of a wide range of copper products, ensuring high-quality production and efficiency.
As of March 31, 2024, Sunlite Recycling Industries Limited reported a total revenue from operations of ₹85,168.31 lacs. The company employs 38 skilled individuals who contribute to its operational success and growth. With a strong focus on recycling and sustainability, Sunlite Recycling Industries Limited continues to be a key player in the copper manufacturing industry, supporting various sectors with its high-quality products.
Industry Outlook:
- India's copper consumption is projected to grow by approximately 11% in FY2024 and FY2025, driven by infrastructure development and renewable energy investments.
- The Indian copper industry, consuming around 6.6 lakh tonnes annually, represents only 3% of the global copper market.
Sunlite Recycling Industries IPO Objectives
The company plans to allocate the net proceeds from the issuance to the following purposes:
- Funding of capital expenditure towards the installation of new Plant & Machinery.
- Repayment and/or pre-payment, in full or part, of certain borrowings availed by the Company.
- General Corporate Purpose.
Peer Details
The companies considered by Sunlite Recycling Industries as its peers include:
- Rajnandini Metal Limited
- Bhagyanagar India Limited
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Contact Details of Sunlite Recycling Industries Limited IPO
- Registered office: Survey No. 270A & Plot No. 1, Survey No. 267, Chhatha Mile, Dantali, Vaso, Kheda - 387350, Gujarat, India
- Phone: +91-9265111757
- E-mail: cs@sunliteindustries.com
IPO Financials
| Particulars | Year ending on March 31, 2024 | Year ending on March 31, 2023 |
|---|---|---|
| Revenue From Operations (in ₹ lakh) | 1,16,627.09 | 1,15,018.88 |
| Profit After Tax (PAT) (in ₹ lakh) | 890.36 | 560.27 |
| Cash & Cash Equivalents (in ₹ lakh) | 7.34 | 203.22 |
| Net Worth (in ₹ lakh) | 2,003.90 | 362.08 |
| Debt to Equity Ratio(x) | 1.74 | 12.83 |
| Return on Equity (%) | 75.26% | 73.69% |
| Return on Capital Employed (RoCE) (%) | 29.49% | 24.05% |
| Earning Per Share (EPS)-in absolute ₹ | 19.35 | 14.01 |
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Strengths
6Manufactures diverse copper products: rods, wires, strips, and conductors.
Serves customers across 10 states and union territories in India.
Recorded ₹85,168.31 lakhs revenue in fiscal year 2024.
ISO 9001:2015 is certified for stringent quality management systems.
Led by experienced promoters with 15-17 years in the industry.
Strategic presence: 45.73% revenue from Gujarat, 21.49% from Dadra and Nagar Haveli.
Risks
6Raw material price fluctuations account for 96.36% of costs in FY2024.
The company relies on the top 10 suppliers for 52.03% of purchases in FY2024.
Geographic concentration: 45.73% of revenue comes from Gujarat in FY2024.
Customer concentration: Top ten customers contribute 40% of revenue in FY2024.
Potential risk from aluminium wires substituting copper wires.
High volume-low margin business with a PBT margin of 1.01% in FY2024.
