Issue Details 2HU %UHDNXS Issue Amount : Upto 161.09 Cr (Fresh issue of 134.23 Cr + OFS of 26.86 Cr) Post Issue Implied Market Cap: 537 Cr at Upper band Total shares on offer : Upto 13,651,694 Equity Shares at Lower band Face Value : 10 per share Price Band : 118 to 120 Lot Size : 125 shares and in multiple thereafter Registrar : Link Intime India Private Limited Source : BRLM Source : BRLM. $OO \RX QHHG WR NQRZ DERXW EXXARO TILES LIMITED Allocation 25% 35% 40% 100% &DWHJRU\ QIB NIB Retail Total Issue size (Shares approx) 3,412,924 4,778,093 5,460,678 13,651,695 3,356,042 4,698,458 5,369,667 13,424,167 /RZHU %DQG 8SSHU %DQG 40.27 56.38 64.44 161.09 Issue size( in Cr)
Transcript
Issue Details
2HU�%UHDNXS
Issue Amount : Upto ₹161.09 Cr (Fresh issue of ₹134.23 Cr + OFS of ₹26.86 Cr)
Post Issue Implied Market Cap: ₹537 Cr at Upper band
Total shares on offer : Upto 13,651,694 Equity Shares at Lower band
Face Value : ₹10 per share
Price Band : ₹118 to ₹120
Lot Size : 125 shares and in multiple thereafter
Registrar : Link Intime India Private Limited
Source : BRLM
Source : BRLM.
�$OO�\RX�QHHG�WR�NQRZ�DERXWEXXARO TILES LIMITED
Allocation
25%
35%
40%
100%
&DWHJRU\
QIB
NIB
Retail
Total
Issue size (Shares approx)
3,412,924
4,778,093
5,460,678
13,651,695
3,356,042
4,698,458
5,369,667
13,424,167
/RZHU�%DQG 8SSHU�%DQG
40.27
56.38
64.44
161.09
Issue size( ₹ in Cr)
IPO timeline
11 August2021
13 August2021
17 August2021
12 August2021
IPO Open: Wednesday, August 04, 2021
IPO Close:Friday, August 06, 2021
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4AUGUST
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Source : BRLM. Dates are tentative
Source : RHP
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7UDGLQJcommences
Prepayment/repayment of certain secured borrowings availed by the Company
Funding the working capital requirements of the Company
General corporate purposes
In addition, the Company expects to receive thebenefits of listing of Equity Shares on theStock Exchanges including enhancingits visibility and its brand imageamong its existing and potentialcustomers and creating a publicmarket for its Equity Shares in India.
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Source : RHP
Exxaro Tiles Limited is engaged in manufacturing and marketing of vitrified tiles used majorly for flooring solutions. It commenced business as a partnership firm in 2007-08 as a manufacturer of frit, which is one of the raw materials used in manufacturing of tiles and have over the years, diversified, expanded and evolved into a manufacturer for vitrified tiles. Its Promoters manage and control the major affairs of the business operations with considerable experience in the Industry. It believes the success is the result of sustained efforts over the years in key aspects of its business, such as product portfolio, process improvements, relationship with our dealers and increased scale of operations.
The company’s business operations are broadly divided into two product categories: Double Charge Vitrified Tiles: Double charge vitrified tiles are tiles that are fed through a press which prints the pattern with a double layer of pigment, 3 to 4 mm thicker than other types of tiles. This process does not permit complex patterns but results in a long-wearing tile surface, suitable for heavy traffic commercial projects. Glazed Vitrified Tiles: Glazed vitrified tiles are flat slabs manufactured from ceramic materials such as clay, feldspar and quartz and other additives and fired at high temperatures to ensure high strength and low water absorption. These tiles are coated with glaze materials prior to the firing process.
The company is distinguished by the large dealer network with whom it develops long term relationships over the years. As on date the company has more than 2000 registered dealers.
Domestically the company has PAN India presence (24 states/ union territories based on sales made during Fiscal 2021) and internationally the company supplies products in over 12 countries including Poland, UAE, Italy, Bosnia etc. For the Fiscal 2021, 2020 and 2019 its revenue from exports contributed 13.88%, 13.51% and 6.68% respectively of its revenue from operations. Its revenue from exports have grown at a CAGR of 47.92% between Fiscal 2019 and 2021.
For Fiscal 2021, 2020, 2019, the company’s revenue from operations was Rs. 255.14 crore, Rs. 240.74 crore and 242.25 crore respectively, growing at a CAGR of 2.62% between Fiscal 2019 and 2021.
Impact of COVID-19 on the business operations:The pandemic outbreak has caused an economic downturn on a global scale, including closure of many businesses and reduced consumer spending, as well as significant market disruption and volatility. The demand for the product is dependent on and directly affected by factors affecting industries where the products are applied. The company faced a revenue loss in the months of April and May to the tune of Rs.40-50 crore, as per management estimates, as there was downturn in the sales of its products.
6WUHQJWKV
Source : RHP
Source : RHP
5LVNV
State-of-the-art, automated manufacturing facilities with strong focus on design and
quality
Widespread sales and dealers network
Experienced management and
dedicated employee base
Wide product portfolio comprising 1000+ designs
Volatility in the supply and pricing of the raw materials and stores &
spares may have an adverse effect on its business, financial condition
and results of operations.
An inability to expand or manage the distribution network for business or
the loss of any significant dealer may adversely affect its business and
results of operations.
Inability to meet the obligations under its debt financing
arrangements could adversely affect the business, result of operations and
cash flow.
Its inability to meet the working capital requirements may have an
adverse effect on its results of operations.
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Source : RHP. Revenue growth for FY 19 not known as FY 18 numbers unavailable
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Particulars(in ₹ crore)Total Assets
(%Ζ7'$
5HYHQXH�*URZWK(%)
Total%RUURZLQJV
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1HW�3URȴWIRU�WKH�SHULRG
%DVLF�(36(₹)
RONW(%)
1HW�3URȴWDV���WR�5HYHQXH
358.25
242.25
NA
158.66
37.82
8.91
3.67
2.66
8.78
387.05
240.74
-0.62
174.15
42.96
11.25
2.90
3.36
9.97
369.31
255.14
5.98
160.99
47.34
15.22
5.96
4.54
11.88
3DUWLFXODUV(in ₹�FURUH�
As at0DUFK����
2021
As at0DUFK����
2020
As at0DUFK����
2019
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Source: RHP.*Financial information for listed industry peers mentioned above is for the year ended March 31, 2021.
Name of Company Face Value(₹ Per Share)
Diluted
EPS, forFinancial Year
2020 (₹)
NAV(₹ per share)
P/E
Basic
Kajaria CeramicsLimited
([[DUR�7LOHVLimited
1
10
2
10
10
2,802.20
1,293.63
1,663.24
504.34
81.75
19.37
18.57
13.62
5.36
(2.48)
19.37
18.57
13.62
5.32
(2.42)
117.48
183.82
154.64
167.30
63.20
51.12
9.89
48.82
61.20
NA
990.25
183.70
664.95
328.05
32.15
Asian GranitoIndia Limited
Somany CeramicsLimited
Orient BellLimited
MurudeshwarCeramics Limited
10 259.85 4.54 4.54 38.20 [.] [.]
CMP(₹)
16.48
9.11
8.80
3.20
(3.59)
11.88
RoNW(%)
Listed Peers#
Total income(in ₹ Cr)
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For more details refer offer documents on sebi www.sebi.gov.inThe securities quoted are exemplary and are not recommendatory. Such representations are not indicative of future results.
Source of statistical information, charts, graphs etc – RHP, DRHP, addendum and Moneycontrol.
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