Agarwal Toughened Glass Limited, a company specializing in manufacturing toughened glass, is set to launch its IPO on the SME platform of the National Stock Exchange (NSE). The IPO will be open for subscription from November 28, 2024, to December 2, 2024. The company is offering 5,799,600 equity shares with a face value of ₹10 each, all of which are fresh issue shares. The total net issue size is 5,799,600 shares, amounting to approximately ₹62.64 crore. The price band for the shares is ₹105 to ₹108 per share.
Agarwal Toughened Glass India Limited (ATGIL), an ISO 9001:2015 certified company, was established in 2009 to market high-performance reflective architectural glass. With over 25 years of expertise in special glass and advanced materials, ATGIL delivers high-quality, tailor-made solutions to clients worldwide.
The company’s modern facilities and experienced team produce a broad range of glass types, meeting demands for light transmission, solar control, wind resistance, safety, security, and energy efficiency. Backed by advanced research, engineering, and testing facilities, ATGIL continues to innovate and adapt to market needs, establishing itself as a trusted brand in the architectural glass industry.
Agarwal Toughened Glass India IPO Highlights
| Section | Parameter | Details |
|---|---|---|
| Key Dates | IPO Start Date | November 28, 2024 |
| IPO End Date | December 2, 2024 | |
| Price Details | IPO Price Band | ₹105 to ₹108 per share |
| Face Value | ₹10 per share | |
| Offer Breakdown | Total Issue Size | 5,799,600 shares (amounting up to ₹62.64 Cr) |
| Fresh Issue Size | 5,799,600 shares (amounting up to ₹62.64 Cr) | |
| Offer For Sale (OFS) | Not Applicable | |
| Market Maker Allocation | 297,600 shares (Nikunj Stock Brokers) | |
| Investor Insights | Minimum Lot Size | 1200 shares |
| Pre-Issue Shareholding | 11,875,000 shares | |
| Post-Issue Shareholding | 17,674,600 shares | |
| Listing Details | Exchange Platform | NSE SME |
| IPO Type | Book Built Issue IPO |
What is GMP of Agarwal Toughened Glass IPO Today?
As of December 02, 2024, the Grey Market Premium (GMP) for the Agarwal Toughened Glass IPO is ₹6. This indicates that the shares are expected to list at approximately ₹114 per share.
Note: GMP is an unofficial indicator and is based on market speculation; it does not guarantee actual listing performance.
Important Dates to Remember
| Event | Date |
|---|---|
| IPO Opening Date | November 28, 2024 (Thursday) |
| IPO Closing Date | December 2, 2024 (Monday) |
| Basis of Allotment | December 3, 2024 (Tuesday) |
| Initiation of Refunds | December 4, 2024 (Wednesday) |
| Credit of Shares in Demat | December 4, 2024 (Wednesday) |
| Listing Date | December 5, 2024 (Thursday) |
The Agarwal Toughened Glass India Limited IPO will open on 28 November, 2024, and it will close on 2 December, 2024. The allotment of this IPO will be finalized on 3 December, 2024. The listing date of Agarwal Toughened Glass India Limited IPO on the NSE SME Exchange is fixed as 5 December, 2024.
Company's Financial Standings
| Period | FY 2024 (Amount in ₹ Lakhs) | FY 2023 (Amount in ₹ Lakhs) | FY 2022 (Amount in ₹ Lakhs) |
|---|---|---|---|
| Total Assets | 5,154.85 | 4,062.32 | 3,620.49 |
| Total Revenue | 4,050.26 | 4,060.32 | 3,471.99 |
| Total Expense | 2,890.20 | 3,925.98 | 3,405.01 |
| Profit After Tax | 868.52 | 96.97 | 50.18 |
| Company’s Net Worth | 1,630.80 | 762.28 | 665.31 |
| Total Reserves & Surplus | 443.30 | 287.28 | 190.31 |
The company’s total assets grew from ₹3,620.49 lakhs in FY 2022 to ₹5,154.85 lakhs in FY 2024, showing steady financial growth.
Revenue increased from ₹3,471.99 lakhs in FY 2022 to ₹4,050.26 lakhs in FY 2024, showing the company’s ability to expand its business and serve more customers.
The Profit After Tax went up from ₹50.18 lakhs in FY 2022 to ₹868.52 lakhs in FY 2024, driven by higher revenue and effective control over expenses. This shows the company’s focus on improving profitability and managing its operations well.
Company’s Key Metrics (FY 2024)
| Key Performance Indicator | Value |
|---|---|
| Return on Capital Employed (ROCE) | 31.34% |
| Return on Equity (ROE) | 72.59% |
| EBITDA Margin (%) | 35.77% |
| After Tax Profit Margin (%) | 22.66% |
| Debt to Equity Ratio | 1.81 |
| Return on Net Worth (RONW) | 53.26% |
| Net Asset Value (NAV) | ₹13.73 |
Lot Size and Application Amount
| Investor Type | Number of Lots | Number of Shares | Investment Amount (₹) |
|---|---|---|---|
| Retail Investor (Min Lot) | 1 | 1,200 | ₹1,29,600 |
| Retail Investor (Max Lot) | 1 | 1,200 | ₹1,29,600 |
| HNI Investor (Min Lot) | 2 | 2,400 | ₹2,59,200 |
Retail investors can apply for a minimum of 1 lot, which includes 1,200 shares, requiring an investment of ₹1,29,600. The maximum application for retail investors is also limited to 1 lot, consisting of the same 1,200 shares, with an investment amount of ₹1,29,600.
HNI investors, on the other hand, need to apply for at least 2 lots, comprising 2,400 shares, with a total investment of ₹2,59,200.
Reserved Portions for Different Investor Categories
| Investor Category | Reservation (% of Total Issue) |
|---|---|
| Shares Reserved for QIB | Not more than 50% |
| Shares Reserved for Retail Investors | Not less than 35% |
| Shares Reserved for Non-Institutional Investors | Not less than 15% |
Net Cash Flow Overview
| Particulars | Financial Year 2024 (₹ Lakhs) | Financial Year 2023 (₹ Lakhs) | Financial Year 2022 (₹ Lakhs) |
|---|---|---|---|
| Net Cash Flow from Operating Activities | 550.41 | 348.10 | -82.68 |
| Net Cash Flow from Investing Activities | -512.57 | -181.07 | -66.36 |
| Net Cash Flow from Financing Activities | -203.89 | 21.06 | 118.06 |
| Net Increase/Decrease in Cash & Cash Equivalents | -166.05 | 188.09 | -30.98 |
State Wise Revenue Breakdown
| Name of States | For the Year Ended March 31, 2024 (₹ in Lakhs) | For the Year Ended March 31, 2023 (₹ in Lakhs) | For the Year Ended March 31, 2022 (₹ in Lakhs) |
|---|---|---|---|
| Himachal Pradesh | 0.09 (0.00%) | 25.53 (0.64%) | 8.87 (0.27%) |
| Punjab | - | 1.20 (0.03%) | 9.65 (0.29%) |
| Uttarakhand | - | - | 21.28 (0.64%) |
| Haryana | 771.17 (20.12%) | 678.86 (16.99%) | 501.60 (15.01%) |
| New Delhi | 174.06 (4.54%) | 480.70 (12.03%) | 224.79 (6.73%) |
| Rajasthan | 2,760.01 (72.01%) | 2,617.41 (65.52%) | 2,467.19 (73.85%) |
| Uttar Pradesh | 115.01 (3.00%) | 126.63 (3.17%) | 85.74 (2.57%) |
| Gujarat | 7.18 (0.19%) | 0.33 (0.01%) | 2.14 (0.06%) |
| Maharashtra | 2.00 (0.05%) | 63.04 (1.58%) | 19.43 (0.58%) |
| Karnataka | 0.30 (0.01%) | - | - |
| Tamil Nadu | 1.39 (0.04%) | 0.24 (0.01%) | 0.26 (0.01%) |
| Telangana | 1.59 (0.04%) | 1.09 (0.03%) | - |
| Total | 3,832.78 (100%) | 3,995.03 (100%) | 3,340.94 (100%) |
B2B and B2C Sales Revenue Breakdown
| Particulars | FY 2024 | FY 2023 | FY 2022 |
|---|---|---|---|
| B2B | 3,532.47 (92.16%) | 3,893.82 (97.47%) | 3,307.68 (99.00%) |
| B2C | 300.31 (7.84%) | 101.21 (2.53%) | 33.26 (1.00%) |
| Total | 3,832.78 (100%) | 3,995.03 (100%) | 3,340.94 (100%) |
Product-Wise Revenue Breakdown
| Product | FY 2024 (₹ in Lakhs) | FY 2023 (₹ in Lakhs) | FY 2022 (₹ in Lakhs) |
|---|---|---|---|
| Toughened Glass | 1,952.45 (50.94%) | 2,310.35 (57.83%) | 1,866.61 (55.87%) |
| DGU (Double Glazed Units) | 1,105.81 (28.85%) | 1,039.20 (26.01%) | 1,030.55 (30.85%) |
| Lamination Glass | 774.52 (20.21%) | 645.48 (16.16%) | 443.78 (13.28%) |
| Total | 3,832.78 (100%) | 3,995.03 (100%) | 3,340.94 (100%) |
Peer Comparison: EPS, PE Ratio, and Face Value
| Company | EPS (₹) | P/E Ratio | Face Value (₹) |
|---|---|---|---|
| Agarwal Toughened Glass India Limited | 7.31 | [●] | 10 |
| Borosil Limited | 5.75 | 61.28 | 1 |
| Sejal Glass Limited | 3.27 | 102.86 | 10 |
Key Objectives of this IPO
The fund raised through this IPO will be used for the following purposes.
- To increase production capacity to meet growing demand.
- To pay off existing debts to improve financial stability.
- For general business operations and expansion.
Positive and Negatives of Agarwal Toughened Glass IPO
Positives:
- Experienced management team with a track record of success.
- Strong market presence with a well-established brand.
- Focus on quality and innovation in manufacturing processes.
- High demand for toughened glass in various industries.
- Financially stable with a consistent growth trajectory.
Negatives:
- The company relies on a few key customers for most of its revenue.
- It has limited presence in different regions, which could affect growth.
- Fluctuating raw material prices may impact costs.
- The company faces growing competition in the industry.
- It has a relatively high amount of debt.
Cumulative Capital Private Limited
Contact Person: Swapnilsagar Vithalani / Parin Dhanesha
Email: contact@cumulativecapital.group
Telephone: +91 981 966 2664 / 701 625 1158
Website: www.cumulativecapital.group
KFin Technologies Limited
Contact Person: M Murali Krishna
Email: atgil.ipo@kfintech.com
Telephone: +91 40 6716 2222 / 180 0309 4001
Website: www.kfintech.com
Agarwal Toughened Glass India Limited
Registered Office: F-2264, RIICO Industrial Area, Ramchandrapura, Sitapur (Ext.), Jaipur 302 022, Rajasthan, India
Telephone: +91 723 004 3212
Email: info@agarwaltuff.com
Investor Grievance: investorgrievance@agarwaltuff.com
Website: www.agarwaltuff.com
Our Verdict
Agarwal Toughened Glass Limited has demonstrated strong growth in recent years, reflecting its solid business operations and increasing demand for its products. The company’s rising revenue highlights its ability to expand and capitalize on market opportunities, while the growth in Profit After Tax (PAT) suggests effective cost management and a promising future.
However, potential investors should keep in mind risks such as market volatility and challenges unique to the glass industry before making an investment.
In summary, Agarwal Toughened Glass Limited presents a strong long-term investment opportunity. Be sure to go through the Red Herring Prospectus (RHP) to get a clearer understanding of the company’s financials and strategic plans before making your decision.
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Popular Questions
- What is the opening and closing date for the Agarwal Toughened Glass Limited IPO?
The IPO opens on 28 November, 2024 (Thursday) and closes on 2 December, 2024 (Monday)
2. What is the price band for the Agarwal Toughened Glass Limited IPO?
The price band for the Agarwal Toughened Glass Limited IPO is set between ₹105 and ₹108 per share
3. What is the minimum lot size for retail investors in the Agarwal Toughened Glass Limited IPO?
Retail investors need to bid for a minimum of 1200 shares, which amounts to an investment of ₹129,600
4. Who are the lead managers for this IPO?
The lead managers for this IPO are Share India Capital Services Private Limited and Cumulative Capital Private Limited
5. Who is the registrar for the Agarwal Toughened Glass Limited IPO?
The registrar for the IPO is KFin Technologies Limited
6. What are the main objectives of the IPO?
The funds will be used for working capital requirements, repayment of debts, general corporate purposes, and IPO-related expenses
7. On which stock exchanges will the shares be listed?
The shares will be listed on the NSE SME Exchange
8. What is the total issue size for the Agarwal Toughened Glass Limited IPO?
The total issue size is 5,799,600 equity shares, amounting to ₹62.64 Cr
9. When will the allotment and refund process begin?
The allotment is scheduled for 3 December, 2024 (Tuesday), and refunds will begin on 4 December, 2024 (Wednesday)
10. When will the shares be credited to the Demat account?
Shares will be credited to investors’ Demat accounts on 4 December, 2024 (Wednesday)
11. What is the expected listing date for the IPO?
The shares are expected to list on the stock exchange on 5 December, 2024 (Thursday)
Note: This article is based on the information received from the company’s official documents, including the Draft Red Herring Prospectus (DRHP) and Red Herring Prospectus (RHP). For up-to-date information on the Grey Market Premium (GMP) for the Agarwal Toughened Glass India IPO, you may please check our Current GMP, where we will post the latest figures as soon as they are available.
Disclaimer: This article is for educational purposes only. We do not offer any advice on buying or selling securities. Please consult your financial advisor before investing in an IPO or any other securities to make sure that it suits your financial plans and risk tolerance.
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