Dhyaani Tile SME
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 30 Mar 2022 – 04 Apr 2022
- Listing date
- 12 Apr 2022
- Face value
- ₹10 per share
- Issue price
- ₹51 per share
- Lot size
- 2,000 shares
- Total issue size
- ₹2.45 Cr
- Market cap at offer price
- ₹7.75 Cr
- Promoter holding
- 96.92% → 66.32% pre-issue → post-issue
- ISIN
- INE0K5F01014
- Registrar
- Kfin Technologies Ltd.
- Lead managers
- GYR Capital Advisors Pvt.Ltd.
- Registered office
- 420, Times Square Arcade, Opp.Rambaug, Thaltej-Shilaj Road, Gujarat
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Market maker | 24,000 | — | — |
Application size
Minimum 2,000 shares per lot, in multiples, at ₹51
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 2,000 | ₹1,02,000 |
| S-HNI (min) | 2 | 4,000 | ₹2,04,000 |
| S-HNI (max) | 9 | 18,000 | ₹9,18,000 |
| B-HNI (min) | 10 | 20,000 | ₹10,20,000 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Valuation and performance
Valuation at offer price
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 2.59 | — |
| P/E (×) | 19.69 | — |
| Market cap | — | ₹7.75 Cr |
Key performance indicators
- Return on net worth
- 78.99%
- Debt / equity
- 2.52
- PAT margin
- 1.85%
- NAV per share
- ₹12.47
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About Dhyaani Tile SME
Dhyaani Tile and Marblez Limited was incorporated as 'Dhyani Enterprise Private Limited' on October 9, 2014 and subsequently renamed to 'Dhyaani Tile and Marblez Limited'. The company commenced its tile trading business in 2019 upon takeover from earlier promoters. Prior to 2019, the company was engaged in trading of agro commodities. The company operates as a trader of vitrified tiles, which are primarily used for flooring solutions in the real estate, infrastructure and related sectors. The company does not own its registered office and relies on third-party transportation and logistics facilities for its operations.
Company Analysis
from RHPDhyaani Tile and Marblez Limited is engaged in the business of trading vitrified tiles used primarily for flooring solutions in the ceramic tiles industry.
Dhyaani Tile and Marblez Limited was incorporated as 'Dhyani Enterprise Private Limited' on October 9, 2014 and subsequently renamed to 'Dhyaani Tile and Marblez Limited'. The company commenced its tile trading business in 2019 upon takeover from earlier promoters. Prior to 2019, the company was engaged in trading of agro commodities. The company operates as a trader of vitrified tiles, which are primarily used for flooring solutions in the real estate, infrastructure and related sectors. The company does not own its registered office and relies on third-party transportation and logistics facilities for its operations.
Objects of the Issue
- Funding the working capital requirements of the company ₹180.00 lakhs p.18
- General Corporate Purposes ₹39.80 lakhs p.18
- Funding the working capital requirements of the company ₹180.00 lakhs p.57
- General Corporate Purposes ₹39.80 lakhs p.57
- General corporate purposes p.150
Issue Structure
- Total Issue
- ₹244.80 lakhs
- Fresh Issue
- 4,80,000 Equity Shares of ₹10/- each at ₹51/- per share aggregating ₹244.80 lakhs
- Offer for Sale
- Nil
- Price Band
- ₹51/- per share (fixed price)
- Lot Size
- 2,000 equity shares and in multiples of 2,000 thereafter
- Face Value
- ₹10/- each
Business Model
The company earns revenue through trading of vitrified tiles. It purchases stock-in-trade and sells to dealers and customers through purchase orders. The company does not maintain long-term contracts with dealers or customers, instead relying on purchase orders to govern volume, pricing and terms of sales.
Business Segments
SWOT Analysis
- • Established trading operations in vitrified tiles sector(p.18)
- • Profitable operations with positive earnings trajectory(p.19)
- • Strong net worth growth(p.19)
- • Significant revenue generation capacity(p.19)
- • Clean litigation and regulatory record(p.19)
- • Widespread distribution network across states(p.76)
- • Experienced management with extensive ceramics sector knowledge(p.76)
- • In-house quality testing laboratory(p.76)
- • Strategically beneficial location near major ports(p.76)
- • Negative operating cash flows in recent periods(p.23)
- • Dependence on third-party logistics without in-house facilities(p.24)
- • No long-term customer or dealer agreements(p.24)
- • Rented premises with no ownership(p.26)
- • Prior compliance violations with statutory authorities(p.25)
- • Violation of director loan provisions in prior year(p.26)
- • Minimal cash reserves and liquidity constraints(p.78)
- • Very small scale of operations with low revenue base(p.78)
- • Recently converted from private to public limited company(p.76)
- • Very small employee base with only 12 employees(p.80)
- • High dependence on single promoter (93.85% ownership)(p.102)
- • Growth in Indian tile exports and market expansion(p.18)
- • Increasing domestic tile consumption(p.18)
- • Funding for working capital and business expansion(p.18)
- • Strategic growth initiatives and market penetration(p.26)
- • Expand customer base and geographical presence(p.77)
- • Explore international export markets(p.77)
- • Improve operational efficiencies and reduce costs(p.77)
- • Increase brand visibility in competitive market(p.77)
- • India gaining market share as alternative to China exports(p.74)
- • Growth in Indian warehousing and infrastructure sector(p.75)
- • Persistent COVID-19 pandemic impact on operations(p.22)
- • Intense competition from both organized and unorganized sector(p.25)
- • Customer order cancellations and delays(p.24)
- • Adverse regulatory changes in tile and real estate sectors(p.25)
- • International trade restrictions and anti-dumping duties(p.25)
- • Dependence on real estate and infrastructure sector performance(p.25)
- • Transportation and logistics disruptions(p.24)
- • Intense competition from organized and unorganized players(p.80)
- • Global ceramic tiles market slowdown and contraction(p.72)
- • COVID-19 pandemic impact on construction and demand(p.73)
- • High customer concentration risk in trading business(p.59)
- • Dependence on working capital financing from banks(p.58)
- • Regulatory risks from anti-dumping duties and trade restrictions(p.73)
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Mr. Chintan Nayan Bhai Rajyaguru | Promoter | 93.85% | 64.21% |
| Mrs. Ilaben Nayanbhai Rajyaguru | Promoter Group | 2.31% | 1.58% |
| Mr. Nayankumar Labhshakar Rajyaguru | Promoter Group | 0.77% | 0.53% |
| Mr. Chintan Nayan Bhai Rajyaguru | Promoter | 93.85% | — |
| Chintan Nayan Bhai Rajyaguru | Promoter | — | — |
Leadership
Auto-extracted from the company's RHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official RHP before relying on it.