Jyoti CNC IPO
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Overview of Jyoti CNC IPO
IPO Date
9-Jan-2024 to 11-Jan-2024
Face Value
₹2 per share
Price Band
₹315 to ₹331
Lot Size
45 Shares Share
Issue Size
30,211,480 shares (aggregating up to )
Listing At
BSE,NSE
Basis of Allotment
12-Jan-2024
Initiation of Refunds
15-Jan-2024
Credit of Shares to Demat
15-Jan-2024
Listing Date
16-Jan-2024
Cut off time for UPI Mandate
11-Jan-2024
Objective of Jyoti CNC IPO
The company plans to issue 30,211,480 Equity Shares, valued at Rs 1,000 crore. The net proceeds from this issuance will be utilized as follows: Rs 475 crore will be used to repay debt, Rs 360 crore will be allocated towards working capital requirements, and the remaining Rs 165 crore will be kept for general corporate purposes.
About Jyoti CNC IPO
Jyoti CNC Automation Limited is a leading manufacturer and supplier of Computer Numerical Cutting (CNC) machines. The company offers a wide range of CNC machines with over 200 types in 44 series, and it provides customized solutions to its customers. Over the last three years, it has supplied more than 7,200 machines to over 3,000 customers worldwide, including India, Europe, North America, and some parts of Asia. The company has three manufacturing facilities with a total manufacturing capacity of around 4,400 machines per year. Two of the facilities are located in Rajkot, Gujarat, and the third one is in Strasbourg, France. The Strasbourg facility has the necessary capabilities to design, develop, and manufacture the entire product line.
Jyoti CNC IPO Financials
Particulars (in Cr) | ||||
---|---|---|---|---|
Total Revenue Annual | 510 | 929 | 746 | 580 |
Operating Expenses Annual | 435 | 832 | 674 | 548 |
Operating Profit Annual | 74 | 97 | 73 | 32 |
Depreciation | 16 | 34 | 36 | 38 |
Interest Annual | 49 | 90 | 82 | 76 |
Tax Annual | 7 | 13 | 7 | -2 |
Net Profit Annual | 3 | 15 | -48 | -70 |
Total Share Holder Funds | 253₹ | 82 | 41 | 113 |
Fixed Asset Annual | 283 | 269 | 275 | 299 |
Total Non Current Asset | 351 | 336 | 329 | 399 |
Total Current Asset | 1355 | 1179 | 957 | 989 |
Book Value Per Share | ₹ 11.1 | ₹ 3.6 | ₹ 1.8 | ₹ 5.0 |
ROE | 1.3% | 18.4% | -117.4% | -62.2% |
ROCE | 5.5% | 9.5% | 4.9% | 0.5% |
Total Debt To Total Equity | 3.3 | 10.2 | 19.3 | 6.4 |
EBIDTA | 14.6% | 10.5% | 9.7% | 5.5% |
Cash From Operating | -74 | 12 | 39 | 26 |
Cash From Investing | -36 | -32 | -31 | -18 |
Cash From Finance | 103 | 34 | -15 | -2 |
Net Cash Flow | -7 | 14 | -8 | 7 |
Promoter's Holding
Total Share Capital
142246495
Offered to Public
-
Promoter’s Holding(Pre-Issue)
72.13
Promoter’s Holding(Post-Issue)
-
Jyoti CNC Strengths
1. This is one of the top CNC machine manufacturing companies in India, with a presence throughout the CNC metal cutting machinery value chain.
2. The company has a well-diversified customer base worldwide, across various end-user industries.
3. The company has a strong focus on technology and the ability to deliver innovative solutions, which is bolstered by dedicated R&D facilities.
4. The company has vertically integrated operations that enable customization and production efficiencies.
Jyoti CNC Weaknesses
It's important to keep in mind that Jyoti CNC Automation, like any other business, has its own strengths and challenges. The company heavily relies on the increasing capital expenditure spends of its customers and end-user industries. Therefore, any slowdown in capex spends can have a significant impact on the company's revenues. Additionally, the company's brand recognition is not as strong as that of global industry leaders, which could limit its reach in international markets. Jyoti CNC Automation has a high working capital requirement, which puts a strain on its cash flows. The company has not been able to manage its French business "Huron" effectively, which has negatively affected its financial health. Moreover, the company has a considerable debt burden, and even after the IPO proceeds, it will still have around Rs 312 Crs of debt.
Parakram Jadeja, Chairman & Managing Director, Jyoti CNC Automation Ltd. Aim & Ambition: I truly believe that the only thing that is constant is “Change” so to LIVE IN PRESENT is motto of my life.
ONE OF THE LEADING CNC MACHINE MANUFACTURING COMPANIES We are one of the world's leading manufacturers of CNC machines with the second and twelfth largest market share, in India and globally, respectively.
Jyoti CNC Automation's competitors and similar companies include Lokesh Machines, Zhongda Leader, Shenyang Yuanda Intellectual Industry Group and IHI Transport Machinery.
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