Standard Glass Lining IPO Opens on January 6; Key Financials to Consider

Standard Glass Lining IPO, one of the upcoming IPOs in India, will be open for subscription on January 6, 2025 and close on January 8, 2025. The IPO is a book-built issue valued at ₹410.05 crores. The issue contains a fresh issue of 1.50 crore shares and an offer for sale of 1.43 crore shares.

The price band for the Standard Glass Lining IPO is set between ₹133 to ₹140 per share, with a minimum lot size of 107 shares. Retail investors will need to invest a minimum amount of ₹14,980.

The company plans to use the net proceeds for the following purposes:

• To fund the capital expenditure requirements of the company towards the purchase of machinery and equipment.
• To repay or prepay, in full or in part, of all or a portion of certain outstanding borrowings availed by the company and investment in their wholly owned material subsidiary, S2 Engineering Industry Private Limited, for repayment or prepayment, in full or in part, of all or a portion of certain outstanding borrowings availed by S2 Engineering Industry Private Limited, from banks and financial institutions.
• Investment in their wholly owned material subsidiary, S2 Engineering Industry Private Limited, for funding its capital expenditure requirements towards the purchase of machinery and equipment.
• To fund inorganic growth through strategic investments and/or acquisitions.
• For General corporate purposes.

Before deciding to subscribe to the Standard Glass Lining IPO, it’s crucial to examine the company’s key financial results to better understand its performance and growth potential.

Standard Glass Lining Technology Limited Financial Performance

Revenue Breakdown

The company has a diversified customer base, which includes end users from various sectors such as pharmaceuticals, chemicals, paints, biotechnology, and food and beverages. Its distinguished clientele comprises 30 out of ~80 pharmaceutical and chemical companies listed in the NSE 500 index as of June 30, 2024.

For the six-month period ended September 30, 2024, the company reported total revenue from operations of ₹3,071.95 million, which represents 100% of its revenue. Of this, ₹2,307.04 million, or 75.10% of total revenue, came from the pharmaceuticals sector. In Fiscal 2024, the company generated ₹5,436.69 million in total revenue, with 81.79% (₹4,446.70 million) from pharmaceuticals, 12.54% (₹681.72 million) from chemicals, and 5.67% (₹308.27 million) from other sectors. Others include paint, bio technology, food and beverages and other industries.

In Fiscal 2023, pharmaceuticals accounted for 82.80% (₹4,119.79 million) of the total revenue of ₹4,975.88 million, while chemicals contributed 14.34% (₹713.37 million), and other sectors contributed 2.86% (₹142.72 million).

In Fiscal 2022, the company recorded ₹2,401.87 million in total revenue, with pharmaceuticals making up 85.53% (₹2,054.33 million), chemicals accounting for 13.51% (₹324.48 million), and other sectors contributing 0.96% (₹23.06 million).

About Standard Glass Lining Technology Limited

Standard Glass Lining Technology Limited is one of the top 5 specialised engineering equipment manufacturers for the pharmaceutical and chemical sectors in India, based on revenue in Fiscal 2024. It possesses in-house capabilities across the entire value chain, including designing, engineering, manufacturing, assembly, installation, and commissioning solutions. Additionally, the company provides turnkey services, establishing standard operating procedures for pharmaceutical and chemical manufacturers.

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