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Hindcon Chemicals Ltd IPO Details

Hindcon Chemicals Ltd was established in 1998,​ Hindcon Chemicals is engaged in manufacturing of chemicals particularly for construction industry. The company’s portfolio consists of over 100 products including Waterproofing additives for R.C.C. Structures, roof, basement, underground and overhead reservoirs, Plasticisers and Super Plasticisers used in Concrete & Mortar mixtures, Concreting Aids, Sodium Silicate, Protective and Waterproofing Coatings, Grouts & Repairing Mortar Admixtures, Shot Crete Aids, Floor Topping products and Tile adhesives.

The company also undertakes waterproofing and rehabilitation jobs on works contract basis. Its customers include Larsen & Toubro Ltd., Gammon India Ltd., BGR Energy Systems Ltd., Hindustan Construction Company Ltd., Jaiprakash Associates Ltd., Patel Engineering Ltd, SEW Infrastructure Ltd. Hindcon Chemicals’ manufacturing facility is located at Howrah, West Bengal which has an existing installed capacity of 30,000 MT per year.

As per financial's, company's top line remain similar in last 5 years and there is sudden jump in bottom line for FY17 and H1 of FY18 which is very surprising, RoNW is 13.76% for last three fiscals and issue looks reasonably priced as per latest earnings. Company is engaged in manufacturing of chemicals particularly for construction industry and there is good potential for growth. So, we give "Apply" rating to this SME IPO.
Hindcon Chemicals Ltd IPO Details
Issue Open 26-02-2018
Issue Close 28-02-2018
Allotment Date 07-03-2018
Unblocked Amount 08-03-2018
Listing Date 09-03-2018
Issue Share 27,60,000 Total Equity Share
1,44,000 Share Reserved by Market Maker
Issue Size ₹ 7.73 Cr Total
IPO Price Band ₹ 28
Minimum Investment Amount [Rs]  ₹ 1,12,000
Minimum Share Bid 4000
Face Value ₹ 10
Retail Allocation 50%
Listing On NSE SME
Premium [Per Share] NA
Average Earning Per Share NA
Expected Listing Gain ₹ 22000
Hindcon Chemicals Ltd IPO Financial details [in Rs, Cr]
Financial Year Total Revenue Total Expenses Profit After Tax
FY-2013 30.87 30.46 0.28
FY-2014 30.92 30.42 0.35
FY-2015 34.96 34.46 0.34
FY-2016 33.45 32.15 0.86
FY-2017 34.25 31.18 2.06
H1-FY-2018 18.13 15.18 2.19
Hindcon Chemicals Ltd IPO Subscription Details
As on Date QIB/NII RII Total
Shared Offred 13,08,000 13,08,000 26,16,000
Day-1 [26-02-2018] 32,68,000 [2.50] 44,96,000 [3.43]77,64,000 [2.97]
Day-2 [27-02-2018] 52,92,000 [4.05] 3,63,20,000 [27.77] 4,16,12,000 [15.91]
Day-3 [28-02-2018] 20,26,88,000 [154.97] 16,24,32,000 [124.18] 36,51,20,000 [139.57]
Hindcon Chemicals Ltd IPO Valuation Details
Earnings Per Share [EPS] ₹ 5.46
Price/Earnings [P/E] Ratio 5.17
Return on Net Worth [RoNW] 13.76 %
Net Asset Value [NAV] ₹ 176.63 Per Share
Hindcon Chemicals Ltd IPO Contact Details
Hindcon Chemicals Limited
62/B, Braunfeld Row
1st Floor, Kolkata
West Bengal - 700027
Phone: +91 033 2449 0835
Email: contactus@hindcon.com
Website: www.hindcon.com
Registrar of Hindcon Chemicals Ltd IPO
LINK INTIME INDIA PRIVATE LIMITED
C-101, 247 Park, L.B.S. Marg, Vikhroli (West),
Mumbai- 400 083 India
Tel: 022-49186200; Fax: 022-49186195
Email: srpl.ipo@linkintime.co.in
Website: www.linkintime.co.in
Investor Grievance Id:
srpl.ipo@linkintime.co.in
Contact Person: Shanti Gopalkrishnan
SEBI Registration Number: INR000004058
Lead Managers of Hindcon Chemicals Ltd IPO
HEM SECURITIES LIMITED
904, A Wing,9th Floor
Naman Midtown, Senapati Bapat Marg
Elphinstone Road
Mumbai 400 013, India.
Telephone: +91 22 4906 0000
Facsimile: +91 22 2262 5991
Email: ib@hemsecurities.com
Contact Person: Mr. Anil Bhargava
Website: www.hemsecurities.com
SEBI registration number: INM000010981
CIN: U67120RJ1995PLC010390
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