Jigar Cables Ltd IPO (Jigar Cables IPO) Detail

Incorporated in 2017, Jigar Cables Ltd (JCL) is an ISO-9001:2015 certified company having its facility at Gondal, Dist Rajkot in Gujarat, manufacturing electric wires and cables as per national & international standards and customer's specifications.

Company sells its products under “SIGMA” brand since last two decades. Jigar's product range includes Submersible Flat Cables, Flexible Cables, LT PVC Cables, Ariel Bunched Cables and House Wires. JCL has recently incorporated a new Company under the name of Jigar Polymers Limited for manufacturing of PVC and XLPE as backward integration. This group came with Ultracab (India) Ltd which is considered its peer. Company's client list include Indian oil, ONGC, BSNL, Indian Railways, JNPT etc.

Objects of the Issue

The object of the issue are to:

1. Repayment/ Prepayment in full or in part of certain borrowings availed by the Company;
2. Working Capital requirements;
3. General Corporate Purposes.

35 Comments

23.1. gala |   Link |Jul 22, 2017 10:48:37 AM
Top Contributor (300+ Posts, 100+ Likes)

After watching subscription figures only apply ....... Will update you

22. Prabhakaran Kuppusamy |   Link |Jul 20, 2017 6:21:32 PM
Top Contributor (400+ Posts, 300+ Likes)

Not accurate.
To be exact it is subscribed 8.6266094420600858369098712446352 times :)

20.1. gala |   Link |Jul 20, 2017 2:28:41 PM
Top Contributor (300+ Posts, 100+ Likes)

Obviously there is no positive but pantomath is the only positive. .... I dint apply bt there is no harm to take risk fr short term ..... See bansal .... Shrenik ....

19. Prabhakaran Kuppusamy |   Link |Jul 19, 2017 7:26:12 PM
Top Contributor (400+ Posts, 300+ Likes)

Pros:

Cons:
Very new company in very competitive sector
Negative cash-flow
Worst ROE and ROCE
Raw material cost is eating more than 90% of sales
Too many rights issue/allotment in very little time
It''s a company that has sales in crores and profit in thousands

There are many more negatives we can keep on adding.
It''s a clear AVOID at any price.

18. Prabhakaran Kuppusamy |   Link |Jul 19, 2017 7:20:32 PM
Top Contributor (400+ Posts, 300+ Likes)

Key operating ratios

Year end      Mar 17
EPS(Rs)      0.02
Book value(Rs)      11.78
CEPS(Rs)      0.07
NPM(%)      -
OPM(%)      12.00
ROCE(%)      6.88
ROE(%)      -
Debt/equity      0.96
Interest cover      1.00

17. Prabhakaran Kuppusamy |   Link |Jul 19, 2017 7:20:15 PM
Top Contributor (400+ Posts, 300+ Likes)

Cash flow analysis(Rs.in Crs.)
Year end      Mar 17
NOPAT      -
Operating cash flow      -0.66
Free cash flow      -0.52

16. Prabhakaran Kuppusamy |   Link |Jul 19, 2017 7:19:58 PM
Top Contributor (400+ Posts, 300+ Likes)

Key financials (Rs.in Crs.)
Year end      Mar 17
Net sales      1.25
Operating profit      0.15
Net profit      -
Equity cap pd      4.50

15. Prabhakaran Kuppusamy |   Link |Jul 19, 2017 7:19:36 PM
Top Contributor (400+ Posts, 300+ Likes)

P & L Account(Rs.in Crs.)

Year      Mar 17(2)
Sales Turnover      1.25
Other Income      0.02
Stock Adjustments      0.45
Total Income      1.72
Raw Materials      1.13
Excise Duty      0.00
Power & Fuel Cost      0.06
Other Manufacturing Expenses      0.00
Employee Cost      0.06
Selling and Administration Expenses      0.33
Miscellaneous Expenses      0.00
Less: Preoperative Expenditure Capitalised      0.00
Profit before Interest, Depreciation & Tax      0.15
Interest & Financial Charges      0.12
Profit before Depreciation & Tax      0.03
Depreciation      0.03
Profit Before Tax      0.00
Tax      0.00
Profit After Tax      0.00
Adjustment below Net Profit      0.00
P & L Balance brought forward      0.00
Appropriations      0.00
P & L Bal. carried down      0.00
Equity Dividend      0.00
Preference Dividend      0.00
Corporate Dividend Tax      0.00
Equity Dividend (%)      0.00
Earning Per Share (Rs.)      0.02
Book Value      11.78
Extraordinary Items      0.00

14. Prabhakaran Kuppusamy |   Link |Jul 19, 2017 7:19:06 PM
Top Contributor (400+ Posts, 300+ Likes)

Balance Sheet(Rs.in Crs.)

Year      Mar 17
Share Capital      4.50
Reserves & Surplus      0.80
Total Shareholders Funds      5.30
Secured Loans      4.99
Unsecured Loans      0.18
Total Debt      5.17
Total Liabilities      10.47
Gross Block      2.01
Less: Accum. Depreciation      0.86
Net Block      1.15
Capital Work in Progress      0.26
Investments      0.00
Inventories      5.31
Sundry Debtors      2.02
Cash and Bank Balance      1.02
Loans and Advances      1.05
Current Liabilities      0.24
Provisions      0.10
Net Current Assets      9.06
Miscellaneous Expenses not w/o      0.00
Total Assets      10.47
Contingent Liabilities      0.00

13. Prabhakaran Kuppusamy |   Link |Jul 19, 2017 7:18:42 PM
Top Contributor (400+ Posts, 300+ Likes)

Capital History
Year      Equity Capital       Remarks
201705      5.168        further allotment
201703      4.5        Rights Issue
201702      4.1        Subscriber to MOA

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