Ducol Organics And Colours SME
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 09 Jan 2023 – 11 Jan 2023
- Listing date
- 19 Jan 2023
- Face value
- ₹10 per share
- Issue price
- ₹78 per share
- Lot size
- 1,600 shares
- Total issue size
- ₹31.51 Cr
- Market cap at offer price
- ₹113 Cr
- Promoter holding
- 79.46% → 57.38% pre-issue → post-issue
- ISIN
- INE0LZO01015
- Registrar
- Bigshare Services Pvt.Ltd.
- Lead managers
- First Overseas Capital Ltd.
- Registered office
- Office No 302, Express Building, 14-E Road, Churchgate, Maharashtra
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 | 4,01,600 | — | — |
Application size
Minimum 1,600 shares per lot, in multiples, at ₹78
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 1,600 | ₹1,24,800 |
| S-HNI (min) | 2 | 3,200 | ₹2,49,600 |
| S-HNI (max) | 8 | 12,800 | ₹9,98,400 |
| B-HNI (min) | 9 | 14,400 | ₹11,23,200 |
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 (₹) | 4.68 | — |
| P/E (×) | 16.67 | — |
| Market cap | — | ₹113 Cr |
Key performance indicators
- Return on net worth
- 23.50%
- PAT margin
- 5.52%
- NAV per share
- ₹19.90
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About Ducol Organics And Colours SME
Ducol Organics And Colours Limited was originally incorporated as a private limited company ('Ducol Organics & Colours Private Limited') on June 16, 1994 under the Companies Act, 1956 and was converted into a public limited company, with the name changed to 'Ducol Organics And Colours Limited' by special resolution passed on June 20, 2022 (fresh certificate of incorporation issued July 1, 2022). The Company is engaged in the development, manufacturing, marketing and distribution of a wide range of pigment dispersions, preparations, concentrates, paste colorants and master batches sold under product lines such as Dutint (decorative paints), Duplast (plastic masterbatches), Duprint (printing inks), Dutex (textile printing), Dusperse (soaps and detergents), Dupralin (paper), Dupren (rubber) and Ducem (dry dispersions), with a pan-India customer base spanning paints, ink, textile, rubber, plastic, leather, paper, soaps, detergents and FMCG end-markets. It operates two units at Taloja MIDC near Mumbai — Unit I (wet dispersions, 3,500 MTPA, started 1995) and Unit II (master batches 2,000 MTPA and dry dispersions 10,000 MTPA, started 2010) — while a third unit at Mahad MIDC (dry dispersions, 15,000 MTPA) is in process of establishment with trials underway. The Company earns money primarily from the sale of manufactured goods through domestic and export channels: revenue from operations was ₹8,798.57 lakhs in Fiscal 2022 (PAT ₹491.11 lakhs) and ₹4,859.19 lakhs for the six months ended September 30, 2022 (PAT ₹417.22 lakhs). Asian Paints Limited and Berger Paints India Limited are cited as two of its major customers from the Paints industry, and its top 5 customers contributed 85.80% of revenue from operations for the six months ended September 30, 2022.
Company Analysis
from RHPDucol Organics And Colours Limited manufactures and sells pigment dispersions, preparations, concentrates, paste colorants and master batches, serving industries such as paints, inks, textiles, detergents, paper, rubber, plastics, leather, soaps and FMCG.
Ducol Organics And Colours Limited was originally incorporated as a private limited company ('Ducol Organics & Colours Private Limited') on June 16, 1994 under the Companies Act, 1956 and was converted into a public limited company, with the name changed to 'Ducol Organics And Colours Limited' by special resolution passed on June 20, 2022 (fresh certificate of incorporation issued July 1, 2022). The Company is engaged in the development, manufacturing, marketing and distribution of a wide range of pigment dispersions, preparations, concentrates, paste colorants and master batches sold under product lines such as Dutint (decorative paints), Duplast (plastic masterbatches), Duprint (printing inks), Dutex (textile printing), Dusperse (soaps and detergents), Dupralin (paper), Dupren (rubber) and Ducem (dry dispersions), with a pan-India customer base spanning paints, ink, textile, rubber, plastic, leather, paper, soaps, detergents and FMCG end-markets. It operates two units at Taloja MIDC near Mumbai — Unit I (wet dispersions, 3,500 MTPA, started 1995) and Unit II (master batches 2,000 MTPA and dry dispersions 10,000 MTPA, started 2010) — while a third unit at Mahad MIDC (dry dispersions, 15,000 MTPA) is in process of establishment with trials underway. The Company earns money primarily from the sale of manufactured goods through domestic and export channels: revenue from operations was ₹8,798.57 lakhs in Fiscal 2022 (PAT ₹491.11 lakhs) and ₹4,859.19 lakhs for the six months ended September 30, 2022 (PAT ₹417.22 lakhs). Asian Paints Limited and Berger Paints India Limited are cited as two of its major customers from the Paints industry, and its top 5 customers contributed 85.80% of revenue from operations for the six months ended September 30, 2022.
Objects of the Issue
- Funding working capital requirements of our Company ₹2,377.65 lakhs p.63
- General Corporate Purposes ₹693.55 lakhs p.64
- Issue Related Expenses ₹80.00 lakhs p.65
Issue Structure
- Total Issue
- 40,40,000 Equity Shares at the Issue Price of ₹78 each aggregating ₹3,151.20 Lakhs
- Fresh Issue
- 40,40,000 Equity Shares of face value ₹10.00 each at ₹78.00 per Equity Share aggregating ₹3,151.20 lakhs (entire issue is a fresh issue)
- Price Band
- Fixed Price Issue at ₹78.00 per Equity Share (including a share premium of ₹68.00 per Equity Share)
- Face Value
- ₹10.00 each
Business Model
The Company earns revenue primarily from the sale of manufactured goods — pigments, pigment pastes, pigment powders and master batches — consisting of both domestic sales and export sales; other income comprises items such as interest income, export duty drawback and foreign exchange fluctuation gains.
Business Segments
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Aamer Ahmed Farid | Promoter and Managing Director | 26.67% | 19.26% |
| Hani Ahmed Farid | Promoter and Whole-time Director | 26.68% | 19.27% |
| Ali Mohmedali Bagash | Promoter Group | 26.11% | 18.85% |
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.