Dhanlaxmi Crop Science Limited is set to launch its IPO. The opening date is 9 December 2024, and it will close on 11 December 2024. This is going to be a book-built issue. Through this Initial Public Offering, the company aims to raise funds by issuing a total of 43,28,000 equity shares. The IPO will consist entirely of a fresh issue of 43,28,000 equity shares. The face value of shares is ₹10 per share. The price band for the Dhanlaxmi Crop Science Limited IPO is set between ₹52 and ₹55.
IPO key Highlights
| Category | Detail | Information |
|---|---|---|
| Key Dates | IPO Open Date | December 09, 2024 |
| IPO Close Date | December 11, 2024 | |
| Pricing Information | Face Value | ₹10 per share |
| Price Band | ₹52 to ₹55 per share | |
| Offer Structure | Total Issue Size | 43,28,000 equity shares |
| Fresh Issue | 43,28,000 equity shares | |
| Market Maker Reservation | 2,18,000 equity shares | |
| Investor Details | Lot Size | 2,000 Shares |
| Listing Exchange | NSE SME | |
| IPO Type | Book Built Issue IPO |
Important Dates of the Issue
| Event | Date |
|---|---|
| IPO Opening Date | Monday, December 9, 2024 |
| IPO Closing Date | Wednesday, December 11, 2024 |
| Basis of Allotment | Thursday, December 12, 2024 |
| Initiation of Refunds | Friday, December 13, 2024 |
| Credit of Shares to Demat | Friday, December 13, 2024 |
| Listing Date | Monday, December 16, 2024 |
What is GMP of Dhanlaxmi Crop Science IPO Today?
As of December 10, 2024, the Grey Market Premium (GMP) for the Dhanlaxmi Crop Science IPO is ₹28. This indicates that the shares are expected to list at approximately ₹83 per share.
Note: GMP is an unofficial indicator and is based on market speculation; it does not guarantee actual listing performance.
Company Financial Standings
| Metric | 30 Sep 2024 (₹ Lakhs) | 31 Mar 2024 (₹ Lakhs) | 31 Mar 2023 (₹ Lakhs) | 31 Mar 2022 (₹ Lakhs) |
|---|---|---|---|---|
| Total Assets | 5,137.91 | 3,496.15 | 2,002.73 | 2,086.33 |
| Total Revenue | 11,996.26 | 6,375.08 | 4,664.17 | 3,543.08 |
| Total Expenses | 10,850.43 | 5,686.07 | 4,211.96 | 3,387.74 |
| Profit After Tax | 820.81 | 465.36 | 299.55 | 58.28 |
| Company’s Net Worth | 2,432.30 | 1,612.07 | 1,139.63 | 617.26 |
| Reserves & Surplus | 1,232.30 | 712.07 | 739.63 | 439.76 |
Dhanlaxmi Crop Science Limited has shown strong growth in its financials. The company’s total assets has been increased from ₹20.87 Crores in FY 2022 to ₹51.38 Crores as of 30 September 2024. It clearly shows that the company is growing its assets continuously. Total revenue of Dhanlaxmi Crop Science has also increased from ₹35.43 Crores in FY 2022 to ₹119.96 Crores as of 30 September 2024, showing its expanding business and sales.
Profit After Tax has been increased from ₹0.58 Crores in FY 2022 to ₹8.21 Crores as of 30 September 2024, showing good profits. The company’s net worth also went up from ₹6.17 Crores in FY 2022 to ₹24.32 Crores as of 30 September 2024.
Overall, these financial data show that Dhanlaxmi Crop Science Limited is growing consistently and having a good potential for the future.
Company’s Key Metrics (FY 2024)
| Key Performance Indicator | Value |
|---|---|
| Return on Equity (ROE) | 33.82% |
| Return on Capital Employed (ROCE) | 39.07% |
| Debt to Equity Ratio | 0.06 |
| Return on Net Worth (RoNW) | 28.87% |
| Price to Book Value (P/BV) | 3.07 |
| Profit After Tax (PAT) Margin (%) | 7.3% |
| Net Asset Value (NAV) | ₹20.27 (as of 30 Sep 2024) |
| Earnings Per Share (EPS) | ₹6.84 (Basic & Diluted) |
| EBITDA Margin (%) | 9.52% (as of 30 Sep 2024) |
Lot Size and Application Amount
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail Investor (Minimum Lot) | 1 | 2,000 | ₹110,000 |
| Retail Investor (Maximum Lot) | 1 | 2,000 | ₹110,000 |
| HNI Investor (Minimum Lot) | 2 | 4,000 | ₹220,000 |
Investor Category-Wise Reservation
| Investor Category | Reservation |
|---|---|
| Shares Reserved for QIB | Not more than 50% of the Net Offer |
| Shares Reserved for Retail Investors | Not less than 35% of the Net Offer |
| Shares Reserved for Non-Institutional Investors | Not less than 15% of the Net Offer |
Net Cash Flow Overview
| Net Cash Flow | For the Period Ended Sep 30, 2024 (₹ Crores) | FY 2024 (₹ Crores) | FY 2023 (₹ Crores) | FY 2022 (₹ Crores) |
|---|---|---|---|---|
| Net Cash Flow from Operating Activities | -701.09 | 8.27 | 629.75 | 202.93 |
| Net Cash Flow from Investing Activities | -20.35 | -46.31 | -0.09 | 0.02 |
| Net Cash Flow from Financing Activities | 634.63 | -174.76 | -450.76 | -120.16 |
| Net Increase/(Decrease) in Cash and Cash Equivalents | -86.81 | -212.80 | 178.91 | 82.79 |
Product wise Revenue Generation
| Particulars | September 30, 2024 (₹ Lakhs) | FY 2024 (₹ Lakhs) | FY 2023 (₹ Lakhs) | FY 2022 (₹ Lakhs) |
|---|---|---|---|---|
| Cotton Seeds | 11,472.40 | 4,891.97 | 3,331.10 | 2,293.48 |
| Wheat Seeds | -0.12 | 310.67 | 297.29 | 496.85 |
| Cumin Seeds | -0.64 | 218.84 | 58.93 | 49.46 |
| Bajra Seeds | 82.31 | 187.73 | 220.93 | 105.46 |
| Maize Seeds | 146.91 | 150.37 | 110.91 | 87.33 |
| Gram Seeds | - | 126.88 | 193.18 | 101.18 |
| Okra Seeds | 28.81 | 109.68 | 147.98 | 118.70 |
| Green Gram | 51.82 | 69.85 | 58.91 | 64.52 |
| SSG Seeds | -0.05 | 54.20 | 25.56 | 32.40 |
| Soyabean Seeds | 64.91 | 46.30 | 51.29 | - |
| Hy. Milky Seeds | 11.44 | 31.23 | 20.34 | 32.15 |
| Mustard Seeds | 55.89 | 29.41 | 31.94 | 20.80 |
| Groundnut Seeds | - | 26.57 | 29.93 | 89.70 |
| Black Gram Seeds | 23.49 | 22.21 | - | - |
| Guar Seeds | -1.77 | 18.50 | 9.33 | 13.97 |
| Castor Seeds | 19.69 | 16.47 | 19.54 | 15.16 |
| Sesame Seeds | -9.43 | 15.36 | 10.64 | 5.75 |
| Jowar Seeds | 24.86 | 15.34 | - | - |
| Coriander Seeds | - | 14.64 | 33.66 | - |
| Red Gram Seeds | 16.73 | 4.46 | 4.95 | 2.67 |
| Green Pea Seeds | 6.68 | 4.19 | - | - |
| Multifeed | 0.50 | 3.24 | 4.67 | 6.19 |
| Onion Seeds | 0.58 | 2.90 | - | - |
| Milkmade | - | - | - | 7.32 |
| Total | 11,995.01 | 6,371.03 | 4,661.07 | 3,543.06 |
State wise Revenue Breakdown
| State/Particulars | September 30, 2024 (₹ in Lakhs) | FY 2024 (₹ in Lakhs) | FY 2023 (₹ in Lakhs) | FY 2022 (₹ in Lakhs) |
|---|---|---|---|---|
| Telangana | 10,141.49 | 3,678.69 | 2,769.66 | 1,789.96 |
| Gujarat | 1,046.53 | 1,581.05 | 1,043.40 | 746.17 |
| Rajasthan | 317.94 | 656.56 | 553.50 | 389.89 |
| Maharashtra | 427.80 | 311.93 | 286.55 | 446.55 |
| Haryana | 61.24 | 142.80 | 7.97 | 155.99 |
| Madhya Pradesh | - | - | - | 14.50 |
| Total Revenue | 11,995.01 | 6,371.03 | 4,661.07 | 3,543.06 |
Peer Group Comparision PE Ratio, EPS & Face Value
| Company Name | EPS (₹) | P/E Ratio | Face Value (₹) |
|---|---|---|---|
| Dhanlaxmi Crop Science Limited | 3.88 | [●] | 10.00 |
| Mangalam Seeds Limited | 12.01 | 16.67 | 10.00 |
| Upsurge Seeds of Agriculture Limited | 8.98 | 25.39 | 10.00 |
Dividend History
The company has not paid dividends for the last three years.
Key Objectives of This IPO
The fund raised through this IPO will be used for the following purposes.
- To fund working capital needs.
- To cover issue-related expenses.
- For general corporate purposes.
Positives and Negatives of Dhanlaxmi Crop Science
Positives:
- Diverse product portfolio catering to major Indian field crops.
- Strong brand recognition built over 20 years of service.
- Strategically located plant with robust logistics access.
- Proven financial growth with steady revenue and profitability.
- Advanced R&D capabilities with dedicated infrastructure.
Negatives:
- High dependency on seed distributors for business operations.
- Intense competition from domestic and international seed companies.
- Unpredictable monsoon rains impacting seed sales.
- Price sensitivity among small-scale farmers.
- Challenges in distribution due to inadequate rural infrastructure.
Conclusion
Dhanlaxmi Crop Science Limited has shown consistent growth in revenues and ne profitability from last three years. The company is having a diverse product portfolio, a strong R&D facilities, and established brand presence. All these positive points prepare the company ready for future expansion in the agricultural sector.
However, its dependency on monsoon conditions and reliance on field crops could also pose some challenges that should be taken care of by the potential investors.
Overall, Dhanlaxmi Crop Science Limited shows strong potential for long-term growth. Investors are advised to review the RHP carefully for detailed insights before making investment decisions.
It is always beneficial to read Draft Red Herring Prospectus (DRHP) and Red Herring Prospectus (RHP) carefully to better understand its financials and growth opportunities before making a decision.
Looking for more IPO reviews? Check out our IPO Dashboard for recent posts on other Main-board IPO & SME IPOs for the latest market updates.
Popular Questions about this IPO
- What are the opening and closing dates for the Dhanlaxmi Crop Science Limited IPO?
The IPO opens on December 9, 2024, and closes on December 11, 2024. - What is the issue price for the Dhanlaxmi Crop Science Limited IPO?
The price band is set at ₹52 to ₹55 per equity share. - What is the minimum lot size for retail investors in this IPO?
Retail investors can bid for a minimum of 2,000 shares, amounting to ₹1,10,000 (at the upper price band). - Who is the lead manager for this IPO?
The lead manager is Finshore Management Services Limited. - Who is the registrar for the Dhanlaxmi Crop Science Limited IPO?
The registrar is Bigshare Services Private Limited. - What are the main objectives of the IPO?
The funds will be utilized for working capital requirements, issue-related expenses, and general corporate purposes. - On which stock exchange will the shares be listed?
The shares are proposed to be listed on the NSE SME platform. - What is the total issue size for the Dhanlaxmi Crop Science Limited IPO?
The total issue comprises 43,28,000 equity shares. - When will the allotment and refund process begin?
The allotment date is December 12, 2024, and refunds will begin on December 13, 2024. - When will the shares be credited to the Demat account?
Shares will be credited to investors’ Demat accounts on December 13, 2024. - What is the expected listing date for the IPO?
The shares are expected to list on December 16, 2024.
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 Dhanlaxmi Crop Sciences 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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