About the Company:
Standard Glass Lining Technology Limited, established in September 2012, stands as a prominent player in India’s specialized engineering equipment sector, primarily serving the pharmaceutical and chemical industries.
Core Capabilities
The company is equipped with comprehensive in-house capabilities that cover the entire production lifecycle, providing turnkey engineering solutions from design to installation. These processes follow strict standard operating procedures to ensure quality and precision.
Diverse Product Portfolio
Standard Glass Lining Technology offers a wide range of products, including:
- Reaction Systems
- Storage, Separation, and Drying Systems
- Plant Engineering and Services
Advanced Manufacturing Expertise
The company specializes in manufacturing equipment using:
- Glass-lined materials
- Stainless steel
- Nickel alloy
IPO Objectives
The funds raised from the IPO will be allocated to:
- Expanding capital expenditure for acquiring machinery and equipment.
- Repaying existing borrowings and supporting subsidiaries.
- Investing in capital projects for subsidiaries.
- Driving growth through strategic acquisitions.
Competitive Strengths
- Ranked among India’s top five specialized equipment manufacturers for pharmaceutical and chemical applications.
- A leading supplier of glass-lined, stainless steel, and nickel alloy-based engineering solutions.
- Customized offerings catering to pharmaceutical, chemical, food, and beverage industries.
- Delivered over 11,000 products in the last decade across diverse sectors.
- Unique in-house production of large-capacity stainless steel glass-lined reactors (up to 10KL).
- Strategic collaborations with HHV Pumps and GL Hakko to enhance product variety and reach.
- Advanced facilities with cutting-edge CNC plasma, laser cutting, and welding technology.
Potential Risks
- Guarantees on subsidiary loans could impose financial strain if defaults occur.
- Heavy reliance on pharmaceutical and chemical industries poses concentration risks.
- Underutilization of production capacity may impact efficiency.
- Vulnerability to delays in customer payments and raw material price fluctuations.
- Dependency on facilities located in Telangana exposes the company to regional risks from natural disasters and political changes.
Summary of Financial Information:
| Period Ended | 30-Sep-24 | 31-Mar-24 | 31-Mar-23 | 31-Mar-22 |
|---|---|---|---|---|
| Assets | 756.52 | 665.38 | 347.79 | 298.11 |
| Revenue | 312.1 | 549.68 | 500.08 | 241.5 |
| Profit After Tax | 36.27 | 60.01 | 53.42 | 25.15 |
| Net Worth | 447.8 | 409.92 | 156.67 | 69.91 |
| Reserves and Surplus | 261.58 | 389.18 | 139.94 | 53.66 |
| Total Borrowing | 173.8 | 129.32 | 81.96 | 69.81 |
Comparison with Listed Peers:
| Company Name | P/E | P/B | RoE (%) |
|---|---|---|---|
| Standard Glass Lining Technology Ltd | 37 | 4 | 21 |
| GMM Pfaudler Ltd | 52 | 5 | 20 |
| HLE Glascoat Ltd | 87 | 6 | 12 |
| Thermax Ltd | 64 | 10 | 15 |
| Praj Industries Ltd | 52 | 12 | 24 |
Key IPO Details:
- IPO Dates: 6 to 8 January, 2024
- Price Band: Rs. 133 to Rs. 140 per share
- Lot Size: 107 shares
- Issue Size: Rs. 410.05 Crores (Fresh Issue: 210 Cr.)
- Retail Quota: 35%
- Listing Date: 13th Jan, 2024
- GMP: 65%+ (for informational purposes only)
Note: For additional information & risk factors please refer to the Red Herring Prospectus
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Disclaimer: We are not SEBI registered. All the views are personal and only for educational purposes. Do your due diligence before making any trading or investing decisions. The data provided in this blog post is for illustrative purposes only and does not constitute financial advice. Always consult with a qualified financial advisor before making investment decisions.
