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Incorporated in 1991, Manoj Ceramic Limited trades in ceramic tiles and tile adhesives under the brand name “MCPL”.
The company’s product portfolio includes ceramic tiles and tile adhesives.
Ceramic tiles: Providing tiles in various shapes, colors, and sizes through its dealer network, retail showrooms, export, and B2B sales to various end users such as architects, builders, and contractors. The company has the tiles manufactured by a third-party manufacturer and does not produce them itself.
The company has a network of dealers in the western and southern regions of India, mainly in Maharashtra, Goa, Tamil Nadu, and Karnataka.
The company’s retail showrooms are located in Mumbai at Ghatkopar and Andheri and in Bangalore at Raja Rajeshwari Nagar.
Tile adhesives: Supplies tile adhesives to the end user through its distribution network in Maharashtra. The company orders the material from a third-party manufacturer and does not produce it itself.
In addition to the distribution network, the company also sells the product via its B2B network, i.e. to architects, builders and contractors, whom it supplies directly.
As of December 2023, the company has also incorporated its subsidiary in London, UK, under the name MCPL Ceramic Limited.
MCPL IPO Details
| IPO Date | December 27, 2023 to December 29, 2023 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price | ₹62 per share |
| Lot Size | 2000 Shares |
| Total Issue Size | 2,334,000 shares (aggregating up to ₹14.47 Cr) |
| Fresh Issue | 2,334,000 shares (aggregating up to ₹14.47 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | BSE SME |
| Share holding pre issue | 6,000,000 |
| Share holding post issue | 8,334,000 |
| Market Maker portion | 118,000 shares |
MCPL IPO Timeline (Tentative Schedule)
MCPL IPO opens on December 27, 2023, and closes on December 29, 2023.
| IPO Open Date | Wednesday, December 27, 2023 |
| IPO Close Date | Friday, December 29, 2023 |
| Basis of Allotment | Monday, January 1, 2024 |
| Initiation of Refunds | Tuesday, January 2, 2024 |
| Credit of Shares to Demat | Tuesday, January 2, 2024 |
| Listing Date | Wednesday, January 3, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on December 29, 2023 |
MCPL IPO Lot Size
Investors can bid for a minimum of 2000 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 2000 | ₹124,000 |
| Retail (Max) | 1 | 2000 | ₹124,000 |
| HNI (Min) | 2 | 4,000 | ₹248,000 |
MCPL IPO Promoter Holding
Mr. Manoj Dharamshi Rakhasiya, Mrs. Anjana Manoj Rakhasiya, Mr. Dhruv Manoj Rakhasiya, Mr.Akash Manoj Rakhasiya, Mrs. Manasvi Dhruv Rakhasiya, and Manoj D Rakhasiya HUF (acting through its Karta Mr. Manoj Dharamshi Rakhasiya) are the promoters of the company.
| Share Holding Pre Issue | 99.55% |
| Share Holding Post Issue | 71.67% |
Manoj Ceramic Limited Financial Information (Restated)
Manoj Ceramic Limited’s revenue increased by 66.54% and profit after tax (PAT) rose by 283.52% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 8,491.23 | 7,787.64 | 5,866.52 | 6,074.55 |
| Revenue | 4,374.54 | 7,493.48 | 4,499.62 | 3,730.84 |
| Profit After Tax | 301.75 | 362.43 | 94.50 | 8.24 |
| Net Worth | 1,610.05 | 1,310.05 | 947.62 | 853.11 |
| Reserves and Surplus | 760.05 | 910.05 | 547.62 | 453.11 |
| Total Borrowing | 5,862.72 | 5,054.97 | 3,495.83 | 3,926.16 |
| Amount in ₹ Lakhs | ||||
Key Performance Indicator
MCPL IPO Market Cap is Rs 51.67 Cr and P/E (x) is 0.26.
| KPI | Values |
|---|---|
| P/E (x) | 0.26 |
| Post P/E (x) | 8.56 |
| Market Cap (₹ Cr.) | 51.67 |
| Debt/Equity | 3.86 |
| EPS (Rs) | 241.62 |
| RoNW | 27.67% |
Objects of the Issue (MCPL IPO Objectives)
The company intends to utilize the issue proceeds to meet the following objects:
- To meet the working capital expenses
- General Corporate Purpose
