Yasons Chemex Care
Fixed Price issueSME₹20.57 Cr issue
-20.00%
Listing gain over issue price
Issue size
₹20.57 Cr
1 lot at cut-off
₹1,20,000
Lot size
3,000shares
Open
24 Jul 2023
Close
26 Jul 2023
Allotment
31 Jul 2023
Listing
03 Aug 2023
Listing performance
Issue price
₹40
Listed at
₹32
Listing-day close
₹33.60
Latest price
₹7.45
Close on 23 Oct 2026
Listing gain
-20.00%
Return since issue
-81.38%
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 24 Jul 2023 – 26 Jul 2023
- Listing date
- 03 Aug 2023
- Face value
- ₹10 per share
- Issue price
- ₹40 per share
- Lot size
- 3,000 shares
- Issue type
- Fixed Price issue
- Total issue size
- ₹20.57 Cr
- Market cap at offer price
- ₹77.22 Cr
- Promoter holding
- 70.16% → 51.47% pre-issue → post-issue
- ISIN
- INE08S201019
- Registrar
- Kfin Technologies Ltd.
- Lead managers
- Fedex Securities Pvt.Ltd.
- Registered office
- 4th floor, 412 Sigma Icon-1, 132ft Ring Road, Opp.Medilink Hospital, Satellite, 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 | 2,70,000 | — | — |
Application size
Minimum 3,000 shares per lot, in multiples, at ₹40
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 3,000 | ₹1,20,000 |
| S-HNI (min) | 2 | 6,000 | ₹2,40,000 |
| S-HNI (max) | 8 | 24,000 | ₹9,60,000 |
| B-HNI (min) | 9 | 27,000 | ₹10,80,000 |
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
₹40 per share
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 2.42 | — |
| P/E (×) | 16.53 | — |
| Market cap | — | ₹77.22 Cr |
Key performance indicators
Latest reported period
- Return on net worth
- 16.56%
- ROCE
- 22.08%
- Debt / equity
- 0.17
- PAT margin
- 9.33%
- EBITDA margin
- 3.28%
- NAV per share
- ₹14.63
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About Yasons Chemex Care
Yasons Chemex Care Limited is a company engaged in the manufacturing of dyes and pigment paste, as well as FMCG products. The company was originally incorporated on October 17, 2017, and is based in Ahmedabad, Gujarat. In addition to manufacturing, the company also trades in dyes and pigment paste to meet customer requirements, purchasing products not manufactured in-house to cater to entire customer needs. The company generates revenue from both manufacturing operations and trading activities across the specialty chemicals and consumer goods sectors.
Company Analysis
from RHPYasons Chemex Care Limited manufactures dyes, pigment paste, and FMCG products, spanning the specialty chemicals and fast-moving consumer goods industries.
Yasons Chemex Care Limited is a company engaged in the manufacturing of dyes and pigment paste, as well as FMCG products. The company was originally incorporated on October 17, 2017, and is based in Ahmedabad, Gujarat. In addition to manufacturing, the company also trades in dyes and pigment paste to meet customer requirements, purchasing products not manufactured in-house to cater to entire customer needs. The company generates revenue from both manufacturing operations and trading activities across the specialty chemicals and consumer goods sectors.
Specialty chemicals - dyes and pigmentsFMCG (Fast-moving consumer goods)
Objects of the Issue
- Funding the incremental working capital requirements of our Company ₹1,230.63 Lakhs p.23
- General corporate purposes ₹486.80 Lakhs p.23
- Meeting incremental working capital requirements ₹1,230.63 lakhs p.90
- General corporate purposes ₹486.80 lakhs p.90
- Not stated in this part of the document p.214
- Not specified in this document section
Issue Structure
- Total Issue
- ₹2,056.80 Lakhs
- Fresh Issue
- 51,42,000 Equity Shares of face value of ₹10/- each at ₹40 per share aggregating to ₹2,056.80 Lakhs
- Offer for Sale
- NA
- Price Band
- Fixed Price Issue at ₹40 per Equity Share
- Lot Size
- 3,000 Equity Shares (Application Lot)
- Face Value
- ₹10 per Equity Share
Business Model
The company manufactures dyes, pigment paste, and FMCG products, and also trades in dyes and pigment paste. Revenue is generated through manufacturing and sale of these products, with some customers' full requirements met through both manufactured products and purchased products for resale.
Business Segments
Manufacturing of dyes and pigment paste products
Manufacturing of FMCG (Fast-moving consumer goods) products
Trading in dyes and pigment paste to meet customer requirements
Manufactures reactive dyes, direct dyes, basic dyes, vat dyes, food colorants, and pigment paste in various color shades
Manufactures and packages FMCG products including hair oil, perfumes, deodorants, handmade soap, sanitizer under brand name 'PLXO'
Trading in dyes intermediates and pigment paste to meet customer requirements for complementary products not manufactured in-house
Manufacturing and sale of dyes, intermediates including anti-dusting oil, dispersing agents, and reactive agents used in manufacturing of dyes and pigments
Manufacturing and sale of consumer goods including hand sanitizers, hair oil, soap, perfumes, and deodorants
Manufacturing of reactive dyes, direct dyes, basic dyes, vat dyes, food colorants, anti-dusting oil, dispersing agents, and reactive agents used for dye and pigment manufacturing
Trading of dyes intermediates and pigments
Manufacturing or packaging of FMCG products including hair oil, sanitizer, perfume, soap under brand name PLXO
SWOT Analysis
Strengths
- • Strong revenue growth trajectory(p.127)
- • Experienced management with deep industry knowledge(p.136)
- • Strategic location with cost advantages(p.136)
- • Diversified product portfolio across segments(p.136)
- • Backed by established parent company(p.127)
- • Quality-focused manufacturing with third-party testing(p.136)
- • Established client relationships(p.136)
- • Experienced management with good customer and supplier relationships(p.144)
- • Wide business experience and quality products to compete in fragmented industry(p.144)
- • Dual advantage of stability and growth from experienced and young workforce mix(p.145)
- • Registered trademarks for brand portfolio(p.148)
- • Multiple manufacturing facilities in strategically located industrial zones(p.144)
- • Established manufacturing presence in dyes and FMCG sectors with operational facilities(p.251)
- • Growing revenue trajectory with PAT growth of 75.58% YoY(p.256)
- • Strong improvement in profitability margins over three years(p.253)
- • Multiple product portfolio including dyes, pigments and FMCG products under own brand(p.251)
- • Government approvals and licenses obtained for manufacturing operations(p.251)
Weaknesses
- • Outstanding tax litigations involving Directors(p.32)
- • Outstanding tax litigations involving Promoters(p.32)
- • Food and drugs administration license expired(p.33)
- • Company name and logo not registered as trademarks(p.36)
- • High dependence on key customers for revenue(p.36)
- • High dependence on top ten suppliers(p.40)
- • Delayed payment of statutory dues in past(p.42)
- • Corporate records discrepancies with ROC(p.35)
- • Heavy reliance on top customers(p.141)
- • FMCG segment underperforming(p.135)
- • Declining EBITDA margins(p.103)
- • Rising finance costs(p.59)
- • Low FMCG capacity utilization(p.142)
- • Dependence on third-party logistics with informal contractual arrangements(p.144)
- • No long-term supply contracts with raw material suppliers, subject to market price fluctuations(p.144)
- • Small workforce of only 9 permanent employees plus casual labor(p.145)
- • Limited insurance coverage that may not cover all potential losses(p.146)
- • Pending completion of registration for leased registered office with associated lease execution uncertainty(p.147)
- • High dependence on limited customer base with top 10 customers representing 50.56% of sales(p.259)
- • Significant debt burden relative to equity base(p.246)
- • Working capital requirements and inventory management challenges(p.227)
- • Outstanding tax demands and litigations against promoter and directors(p.268)
- • Expiration of Food and Drug Administration license requiring renewal(p.276)
Opportunities
- • India's specialty chemicals market growth(p.119)
- • Expanding FMCG market in India(p.123)
- • Growth in dyes and pigments sector(p.119)
- • Favorable government support for chemicals sector(p.122)
- • Strong Indian economic growth trajectory(p.117)
- • Capacity expansion into specialty chemicals(p.126)
- • Growing demand for backward-integrated dye manufacturers(p.136)
- • Significant incentive and manufacturing support through Gujarat Industrial Policy 2020(p.150)
- • MSME classification and support benefits available to the company(p.149)
- • Improved employee benefits and formalisation through new labour codes(p.151)
- • Capacity expansion opportunity at Dholka facility with 1500 MTPA installed capacity(p.147)
- • Expansion through equity capital raising and infrastructure development(p.252)
- • Growth in FMCG product sales with new brand PLXO and licensed manufacturing(p.251)
- • Revenue diversification through investment in LLP with significant profit contribution(p.235)
- • Increased trading volumes creating revenue growth opportunities(p.255)
- • Market expansion supported by existing regulatory approvals for multiple product categories(p.251)
Threats
- • Risk of disruptions from operating hazards(p.33)
- • Raw material price fluctuations and supply shortages(p.34)
- • Dependence on third-party transportation(p.34)
- • Global commodity price volatility(p.36)
- • Risk of technological obsolescence(p.34)
- • Dependence on economic growth in India(p.49)
- • Environmental and health regulations compliance(p.39)
- • Risk from infectious disease outbreaks(p.49)
- • Intense competition in dyes and chemicals sector(p.136)
- • Raw material price volatility(p.59)
- • Regulatory risks in chemical manufacturing(p.119)
- • Global economic uncertainties(p.116)
- • Environmental and safety compliance requirements(p.136)
- • Dependence on parent company synergies(p.136)
- • Dependence on third-party logistics disruption risks affecting operations(p.144)
- • Fragmented competitive industry with small and large established players(p.144)
- • Market price volatility of key raw materials affecting production costs(p.144)
- • Stringent environmental and occupational safety regulations(p.150)
- • Complex compliance requirements under multiple environmental legislations(p.157)
- • Hazardous waste management and disposal obligations(p.159)
- • Volatility and pricing pressures in chemical commodity markets(p.252)
- • Dependence on raw material supply with exposure to input cost fluctuations(p.253)
- • Risk of customer payment defaults and receivables collection issues(p.252)
- • Regulatory uncertainty and requirement for continuous compliance(p.252)
- • Uncertainty from COVID-19 pandemic effects on business operations(p.252)
- • Sector competition and pricing pressures from competitive business environment(p.252)
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Yash Chemex Limited | Promoter | 70.16% | 51.47% |
| Pritesh Yashwantlal Shah | Promoter | — | — |
| Dimple Priteshkumar Shah | Promoter | — | — |
| Yash Chemex Limited | Promoter | 70.16% | 51.47% |
| Yash Chemex Limited | Promoter | — | — |
| Pritesh Yashwantlal Shah | Promoter | 37.18% | — |
| Dimple Priteshkumar Shah | Promoter | 8.41% | — |
| Yash Chemex Limited | Holding Company / Promoter | 70.16% | — |
Leadership
Pritesh Yashwantlal Shah · Chairman/Managing Director
Dimple Priteshkumar Shah · Whole-time Director
Kiritkumar Harjivandas Shah · CFO
Himali Maheshbhai Thakkar · Company Secretary & Compliance Officer
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.
Yasons Chemex Care IPO FAQs
What is the lot size of Yasons Chemex Care IPO?
The minimum lot size of Yasons Chemex Care IPO is 3,000 shares. One lot costs ₹1,20,000 at the cut-off price.
When does Yasons Chemex Care IPO open and close?
Yasons Chemex Care IPO opened for subscription on 24 Jul 2023 and closed on 26 Jul 2023.
What is the listing date of Yasons Chemex Care IPO?
Yasons Chemex Care IPO listed on 03 Aug 2023.