Shree Pushkar Chemicals and Fertilisers Ltd IPO (Shree Pushkar Chemicals IPO) Detail

Incorporated in 1993, Shree Pushkar Chemicals & Fertilisers Limited is Mumbai India based manufacturer of widest range of dye intermediates in India with zero waste. Company has a manufacturing facilities located at Lote Parshuram, Maharashtra.

Company is also amongst India's large manufacturers of K-Acid, a dye intermediate used to manufacture Reactive Dyes for dying of textiles, with an installed capacity of 960 MTPA as on March 31, 2015.

Company manufacture products in 4 major verticals:
1. Dye Intermediates,
2. Acid Complex (comprising sulphuric and its derivative acids),
3. Cattle Feed Supplement and
4. Fertilizers (Single Super Phosphate & Soil Conditioner).

As on Aug 10th 2015, company's Promoter and Promoter Group hold 87.96% while the balance 11.72% is held by IFCI Venture Capital Fund (IEDF). Company have a total workforce of 529 including 10 senior executives, 26 managerial and supervisory staff, 66 office staff, 125 skilled and unskilled workers, 54 contract labourers and 248 casual labourers.

Objects of the Issue

The Issue comprises a Fresh Issue and an Offer for Sale.

Objects of the Offer for Sale

The funds from the Offer for Sale shall be received by the Selling Shareholder and the Company shall not receive any proceeds from the Offer for Sale.

Objects of the Fresh Issue

We intend to utilize the Issue Proceeds for the following objects:
1. Acquisition of an existing factory within MIDC Industrial Area Lote-Parshuram bearing no. B-97
2. Setting up of facilities at B-97 for manufacture of:
i. Reactive Dyes with a capacity of 3,000 TPA
ii. H-Acid with a capacity of 750 TPA
iii. Vinyl Sulphone (VS) Ester with a capacity of 1,000 TPA
3. Setting up of additional effluent treatment plant at the existing facility (Unit I) to make the unit a 'Zero Discharge' unit.
4. Construction of additional Godown(s) at the existing facility (Unit II) for meeting the additional storage requirements for finished goods.
5. General corporate purposes; and
6. To meet the preliminary & pre-operative and Issue expenses.

400 Comments

251. Septa |   Link |Feb 7, 2016 9:55:15 PM
IPO Guru (4000+ Posts, 4600+ Likes)

Shree Pushkar Chemicals launches mixed fertiliser brand in Maharashtra

Shree Pushkar Chemicals & Fertilisers Limited (SPCF), an integrated player in the manufacture of dyes and dye intermediates, has launched new mixed fertiliser in Maharashtra. The company has received a license for manufacture of mixed fertiliser - nitrogen, phosphorus, and potassium (NPK) - in Maharashtra. The mixed fertiliser, branded as Shriram Urja Mix, has been launched under a marketing tie-up with DCM Shriram.

Shree Pushkar Chemicals had commenced commercial operations of a new product under the fertiliser division - mixed fertiliser (NPK) on January 22, 2016 in its existing soil conditioner granulation plant in Lote Parshuram (Maharashtra) with a nominal capacity of 20,000 tonnes per annum.

ALSO READ: Shree Pushkar Chemicals to forward integrate into dyes manufacturing

Over the years, Shree Pushkar Chemicals & Fertilisers, an integrated player in the dye intermediates, has developed a comprehensive business model to utilise all its effluents with expansion into acid complex, cattle feed supplements and fertilisers. SPCF today is one of the few zero waste chemical companies in India.

Shree Pushkar, which completed its IPO process in September 2015 and is currently listed in BSE and NSE, is currently undertaking forward integration of the business into dyestuff and expansion of the dye intermediates division to cater to the new dyestuff plant.

For fertilisers and cattle feed divisions, SPCF has marketing tie ups with DCM Shriram and Shivam Chemicals.

248. gala |   Link |Nov 16, 2015 10:26:43 PM
Top Contributor (300+ Posts, 100+ Likes)

IS PUSHKAR A GOOD STOCK TO BUY AT 75?

247.1. Septa |   Link |Nov 6, 2015 10:02:42 PM
IPO Guru (4000+ Posts, 4600+ Likes)

yes quarterly okay result YOY 15% drop but commentary was great
Shree Pushkar Chemicals & Fertilisers Ltd has informed BSE about the following

ICRA upgrades credit rating of Shree Pushkar Chemicals & Fertilisers Ltd

Based on the periodic surveillance and review of the latest developments of Shree Pushkar Chemicals & Fertilisers Ltd., ICRA has upgraded the long term Credit rating of the Bank’s enhanced limits of Rs. 93.57 Crs to ICRA A- (pronounced as ICRA A minus) from ICRA BBB (pronounced as ICRA triple B) and also upgraded the short term rating to ICRA A2+ (pronounced as ICRA A two plus) from ICRA A3 + (pronounced as ICRA A three plus). The outlook on the long-term rating as opined by ICRA is ‘Stable’.

Shree Pushkar signs NDA with Huntsman

Shree Pushkar Chemicals & Fertilisers Ltd. (SPCFL) has signed a Non Disclosure Agreement (NDA) with the Textile effects division of Huntsman Inc. for future collaboration on manufacture of Dyes for Huntsman.

Huntsman Corporation is a US based Company and a global player in the manufacture and marketing of a wide range of Dyes and petrochemicals having a turnover of approx. US$ 14.5 Billion. The Company has a global presence in more than 50 countries and operates in 5 distinct business divisions spread across Advanced Materials, Performance Products, Pigments and Additives, Polyurethanes, & Textile Effects.

SPCFL a manufacturer of key intermediates for the manufacture of Dyes, has recently, successfully concluded an IPO for setting up of a plant for manufacture of Reactive Dyes along with plants for manufacture of H-Acid & Vinyl Sulphone Ester on a new plot of land at close vicinity to their existing works at MIDC Lote Parshuram, Dist Ratnagiri.

247.2. Lionbull |   Link |Nov 7, 2015 8:25:32 AM

Septa ji
1. From Nov 6 board meeting, two news are clear. One is the profit has decreased YOY and the second thing is about ICRA credit rating and Huntman. Now there is negative news as well as positive news.

2. With this news, how much do you think the share price will be in the coming week?
Will it go up to 90 or come DOWN to 75? I am asking ffor diwali week and not on short term or long term.

AWAITING YOUR REPLY THANKS IN ADVANCE

247.3. Septa |   Link |Nov 7, 2015 10:40:37 AM
IPO Guru (4000+ Posts, 4600+ Likes)

market normally take view short term to determine the price so my gut feeling is that price will come down however ICRA rating which endorse healthy and clean balance sheet. Also HUNTMAN as your customer is big feather which will have big impact on top line and bottom line.... so answer is that for diwali SP share price will come down.

247.4. Septa |   Link |Nov 7, 2015 11:11:12 AM
IPO Guru (4000+ Posts, 4600+ Likes)

just another point looking at numbers margin have increased big time given input cost reduction however toppling has missed maybe unit sale has increased but price pressure has result in lower top line. even with price pressure GP margin has grown 30% YOY but would have have loved the NP grown.... based on this EPS of 8 approx so at 10 PE price of 80 with additional capacity and new big customer and lower financial cost next few quarters will impact earning big time.... what important is return of capital is high with additional production line IMO will see good result next quarter and quarter to come

246. Septa |   Link |Oct 29, 2015 10:30:41 AM
IPO Guru (4000+ Posts, 4600+ Likes)

Shree Pushkar Chemicals& Fertilisers to hold board meeting
Shree Pushkar Chemicals& Fertilisers will hold a meeting of the Board of Directors of the Company on 6 November 2015, to consider, approve and take on record the unaudited financial results of the Company for the quarter and half year ended 30 September 2015.Powered by Capital Market - If they have a bumper result then we can expect Share heading north

246.1. gala |   Link |Nov 14, 2015 9:23:05 PM
Top Contributor (300+ Posts, 100+ Likes)

Septa sir Do you think it''s a great time to enter into this stock for long term as this stock is falling.... Should we buy more?

244. gala |   Link |Oct 10, 2015 7:07:08 PM
Top Contributor (300+ Posts, 100+ Likes)

septa sir... shree Pushkar must be kept for long term or must be sold?

244.1. Septa |   Link |Oct 13, 2015 4:27:45 PM
IPO Guru (4000+ Posts, 4600+ Likes)

I am not selling infact brought it from secondary market.... Anyway u can go forward and put a stop loss or part sell.... At present the MC is around 229 crores. With health ROC of 20% so making 40 crores free cash flow for 229 crores MC. To start with IMO if grow 20% debt free 4 vertical business MC could be 1000 crores in few years time if growth is achieved so share could be Rs 300 in three years....

243. Septa |   Link |Oct 9, 2015 7:57:25 PM
IPO Guru (4000+ Posts, 4600+ Likes)

Shree Pushkar Chemicals – M.B. Agarwal and H.D Agarwal have netted a little over 0.15 Cr. though this transaction alone. They had amassed over 6 lakh shares at an avg. price of 63.47 on 10/11-Sep and now have sold 2.65 lakh shares at a price of 69.18.

242. Septa |   Link |Oct 9, 2015 11:55:58 AM
IPO Guru (4000+ Posts, 4600+ Likes)

Big up move today

241. Septa |   Link |Sep 25, 2015 9:33:32 PM
IPO Guru (4000+ Posts, 4600+ Likes)

Just read the r d herring again 2010 investment by PE is in holding company so it included the total business

240. Septa |   Link |Sep 25, 2015 9:30:25 PM
IPO Guru (4000+ Posts, 4600+ Likes)

The other issue which hitting in October is indigo airline if the price band is which pinkyjain as referring then we should apply

239. Septa |   Link |Sep 25, 2015 9:28:25 PM
IPO Guru (4000+ Posts, 4600+ Likes)

Two issue hitting October which IMO will be good coffee day offer the issue at the same price as it offered in last round of equity stake the price band will be decided in the next few days. They are looking at a valuation of around Rs.6,200 crore,

CDEL was valued at Rs.6,200 crore based on a pre-IPO round of funding in March. If this is price it comes out then it a no brainier just apply if it more then March round on finance then it not fair and promotors r not retail investors friendly give last round of finance was just done 6 months back

According to documents available with the registrar of companies (RoC), CDEL raised Rs.100 crore from five investors, including Infosys Ltd co-founder Nandan Nilekani, investor Rakesh Jhunjhunwala’s Rare Enterprises and stock broker Ramesh Damani. Which gives some confidence this put the valuation of CDEL at 6200 around one billion

In 2010 Private equity firms KKR India Advisors, New Silk Route PE Asia and Standard Chartered Private Equity invested $149.07 million in the holding company in February 2010 the Red herring put the stake at approx 3.5% however I am not sure if these PE have give more share or option however this valuation put CDEL at 4 billion I think this includes also the 20000 acres of coffee estate and the coffee shop ....

Also the news is that Anchor investor is interested in this issue big time nearly 7 times the normal quote which is big but then again there is to much grey
If they come with same price as the March round of finance to two big brokers and NN then we should all apply

238. Septa |   Link |Sep 25, 2015 9:02:47 PM
IPO Guru (4000+ Posts, 4600+ Likes)

From 28th September the circuit moves from 5% to 20% .

237.1. Septa |   Link |Sep 27, 2015 12:34:55 PM
IPO Guru (4000+ Posts, 4600+ Likes)

I do not if multi bagger but what I know is this company has four vertical each benefits each. And eps of 9 and growing at 15% YOY the most important the ipo money will be invested to grow the business mans fold. Also if you look at ROC is around 40 car for a 200 MC company which is 20% FD will give only 8% just on present fundamental at conservative PE of 15 the price of share should be Rs 145. If this management give good quarterly result the share price will fly. Present price does discount it presents income if growth is achieved then 200 cr MC will certainly multiple many time I have brought more

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