Established in 2010, Electro Force (India) is set to launch its initial public offering (IPO), aiming to raise funds for its expansion plans. The company, an ISO 9001:2015 certified entity, specializes in designing and manufacturing electrical components and metal/plastic contact parts. Operating on a business-to-business (B2B) model, Electro Force serves various industries, including electronics, lighting, and engineering sectors in India.
**Business Specialization:**
Electro Force’s core competencies include the specialized design and production of precision sheet metal components, high-speed metal stamping components, plastic injection moldings, insert and over-molding, sub-assemblies, and value-added services.
**IPO Details:**
– **IPO Dates:** December 19 – 21, 2023
– **Issue Price:** INR 93 per share
– **Fresh Issue:** 6,000,000 shares (INR 55.80 crore)
– **Offer For Sale:** 2,674,800 shares (INR 24.88 crore)
– **Total IPO Size:** 8,674,800 shares (INR 80.68 crore)
– **Minimum Bid (Lot Size):** 1,200 shares (INR 111,600)
– **Face Value:** INR 10 per share
– **Retail Allocation:** 50%
– **Listing On:** NSE SME
Financial Performance: Figures in INR Crores unless specified otherwise
- FY 2021:
- Revenue: 15.74
- Expenses: 18.14
- Net Income: (2.24)
- FY 2022:
- Revenue: 34.40
- Expenses: 23.84
- Net Income: 8.64
- FY 2023:
- Revenue: 30.25
- Expenses: 19.60
- Net Income: 8.00
- H1 FY 2024:
- Revenue: 23.10
- Expenses: 13.64
- Net Income: 7.11
Valuations & Margins:
- FY 2021:
- EPS: (1.29)
- RONW: (130.45%)
- ROCE: Not available
- FY 2022:
- EPS: 4.97
- RONW: 83.44%
- ROCE: Not available
- FY 2023:
- EPS: 4.60
- RONW: 43.57%
- ROCE: 58.23
- EBITDA Margin:
- FY 2021: (9.82%)
- FY 2022: 33.16%
- FY 2023: 37.51%
- Debt/Equity:
- FY 2021: 3.42
- FY 2022: 0.35
- FY 2023: Not available
**Conclusion:**
Electro Force’s IPO presents an opportunity for investors to delve into the electrical components and manufacturing sector. The company’s focus on precision and specialized products, along with its growth plans, will likely shape its trajectory in the market. Investors should carefully assess the financials, market dynamics, and the company’s future prospects before making investment decisions.
