Bulkcorp International Limited is launching an IPO with a fresh issue of 19,78,800 shares worth INR 20.78 crores. The company aims to allocate funds for capital expenditure, meet working capital needs, and general corporate purposes.
Bulkcorp International IPO – Important Dates
| Bulkcrop International Limited IPO Date | July 30, 2024 to August 1, 2024 |
| Bulkcrop International Limited IPO Listing Date | August 6, 2024 |
| Bulkcrop International Limited IPO Price | INR 100-105 per share |
| Bulkcrop International Limited IPO Lot Size | 1200 shares |
| Bulkcrop International Limited IPO Total Issue Size | INR 20.78 crores |
| Bulkcrop International Limited IPO Basis of Allotment | August 2, 2024 |
| Bulkcrop International Limited IPO Initiation of Refunds | August 5, 2024 |
| Bulkcrop International Limited IPO Credit of Shares to Demat | August 5, 2024 |
| Bulkcrop International Limited IPO Issue Type | Book Built Issue IPO |
| Bulkcrop International Limited IPO Listing At | NSE SME |
Bulkcorp International Limited IPO – Company Profile
Bulkcorp International Limited, a 45001:2018 and BRC-certified company, manufactures Food-Grade Flexible Intermediate Bulk Container (FIBC) bags in Changodar, Ahmedabad. It offers customizable packaging solutions with eight variations while maintaining safety and hygiene standards.
The strategically located manufacturing facility in Changodar, Ahmedabad, features an in-house testing laboratory to ensure ISO 21898-compliant FIBC bags. Its proximity to the National Highway enhances operational efficiency in transportation.
With a doubled capacity of 4800 MTPA, they serve the agriculture, chemical, construction, food, pharmaceutical, and mining industries globally. The Ministry of Commerce and Trade recognized them as a one-star export house.
Bulkcorp International Ltd IPO Fundamental Analysis
Bulkcrop International Limited Technologies’ financial analysis reveals a mixed performance. Revenue decreased but rebounded by March 2024. Equity grew, and debt reliance was reduced. Profitability and EPS rose. RoNW decreased. Assets increased, liquidity strengthened, and the inventory turnover ratio declined.
- Revenue Trend: The revenue decreased from ₹4,842.41 lakhs in March 2022 to ₹3,847.07 lakhs in March 2023. The revenue for the current year’s 12-month period ending March 2024 is INR 4,518.25 lakhs.
- Equity and Liabilities: Equity has shown a consistent increase over the periods, reflecting potential growth and expansion. However, the debt-equity ratio has decreased, indicating reduced reliance on debt financing.
- Profitability: The profit after tax (PAT) has significantly increased from ₹172.56 lakhs in March 2022 to ₹355.90 lakhs by March 2024. This improvement in profitability could be a source of confidence among investors.
- Earnings per Share (EPS): The diluted EPS has risen from ₹3.18 in March 2022 to ₹6.47 by March 2024, reflecting higher earnings per share for investors.
- Return on Net Worth (RoNW): The RoNW has reduced from 48.34% to 38.10%, indicating a decrease in the company’s ability to generate returns on shareholder equity.
- Financial Position: Total assets have increased, suggesting potential business growth. However, the current ratio has increased, indicating strengthening liquidity and potential challenges in meeting short-term obligations.
- Inventory Turnover Ratio: There’s a significant decrease in the Inventory Turnover Ratio, which might suggest slower sales or inefficient inventory management.
Bulkcorp International IPO Financial Analysis
| Particular | As of 31 March 2022 | As of 31 March 2023 | As of 31 March 2024 |
| Revenue (₹ in lakhs) | 4,842.41 | 3,847.07 | 4,518.25 |
| Equity (₹ in lakhs) | 356.95 | 478.16 | 934.06 |
| Expenses (₹ in lakhs) | 4,694.67 | 3,724.40 | 4,170.90 |
| Profit and Loss After Tax (₹ in lakhs) | 172.56 | 121.22 | 355.90 |
| Diluted EPS only (₹) | 3.18 | 2.23 | 6.47 |
| Return on Net Worth (%) | 48.34 | 25.35 | 38.10 |
| NAV per Equity Share (₹) | 6.57 | 8.81 | 16.87 |
| Total Assets (in lakhs) | 2,177.10 | 1,765.18 | 3,236.39 |
| Total Liabilities (in lakhs) | 1,820.15 | 1,287.02 | 2,302.33 |
| Debt Equity Ratio | 2.49 | 1.13 | 0.68 |
| Current Ratio (in times) | 1.12 | 1.01 | 1.16 |
| Inventory Turnover Ratio | 8.73 | 7.58 | 6.01 |
Bulkcorp International Limited IPO Peer Comparison
Bulkcorp International Limited achieved strong EPS and RoNW figures, showcasing robust profitability and equity growth. Rishi Techtex Ltd demonstrated significant revenue and EPS, while Jumbo Bag Limited excelled in revenue and EPS with lower RoNW.
| Company | Type of Financial | Current Market Price (₹) | Revenue from Operations (₹ in lakhs) | Face Value per Equity Share (₹) | P/E Ratio | EPS (Basic) (₹) | RoNW (%) | NAV per Equity Share (₹ in lakhs) |
| Bulkcorp International Limited | Standalone | – | 4,518.25 | 10 | – | 6.47 | 38.10 | 16.87 |
| Rishi Techtex Ltd | Standalone | 46.98 | 11,173.57 | 10 | 25.75 | 1.82 | 4.23 | 43.09 |
| Jumbo Bag Limited | Standalone | 38.23 | 10,432.13 | 10 | 26.92 | 1.42 | 5.63 | 24.05 |
Bulkcorp International Ltd IPO Objective
The main objective of Bulkcorp International Limited is to allocate funds for capital expenditure and meet working capital needs.
- Capital Expenditure: The company intends to utilize INR 2.18 crores to commission a 500 KWP solar power plant in Banaskantha, Gujarat, ensuring clean operation energy, enhancing sustainability, and reducing exposure to electricity price volatility.
- To Meet Working Capital Requirements: The company plans to utilize INR 11.00 crores from the issue’s net proceeds to meet its working capital requirements, with the balance funded through borrowings and internal accruals for FY 2024-25 and FY 2025-26.
- General Corporate Purpose: The company will deploy the balance of funds towards general corporate purposes, including funding growth opportunities, servicing repayment obligations, meeting routine expenses, supporting strategic initiatives, and addressing ongoing corporate exigencies.
Bulkcorp International IPO Risks And Challenges
Bulkcorp International Limited’s risks include potential higher costs or disruptions from leased premises, exposure to regional and operational risks in Gujarat and the USA, and challenges from expanding its manufacturing facility, which could impact operations and financial stability.
- Leased premises for their Manufacturing Unit, Registered Office, and Labor Colony, including those from a Promoter Group member, may lead to higher costs or disruptions if relocation is required, impacting their operations and financial condition.
- The concentration of their operations in Gujarat and the USA exposes the company to risks like regional slowdowns, policy changes, currency fluctuations, supply chain disruptions, and trade barriers, which may affect operational efficiency and profitability.
- Machinery breakdowns, local disruptions, industrial accidents, regulatory non-compliance, and labor issues could impact the expansion of their manufacturing facility in Changodar to 4800 MTPA, affecting operations and financial stability.
Bulkcorp International Ltd IPO – Industry & Market Potential
The global FIBC market is projected to grow from $7.5 billion in 2023 to $12.6 billion by 2033, driven by increased use in the food and pharmaceutical industries, with a CAGR of 5.4% during this period.
Specialized FIBCs for various industries are gaining traction, driven by a shift from traditional packaging. Enhanced durability and innovations like machine learning and robotics are expected to fuel steady growth in the FIBC market.
The Indian FIBC market, boosted by Make-in-India initiatives, has grown 38% in a decade. It’s expected to expand at a 6.9% CAGR, driven by increased demand in food, agriculture, and other industries. India’s market is predicted to double.
Bulkcorp International Limited IPO – Type of Offer
Bulkcorp International Limited is launching an IPO with a fresh issue of 19,78,800 shares worth INR 20.78 crores. The company aims to allocate funds for capital expenditure, meet working capital needs, and general corporate purposes.
Bulkcorp International IPO Offer Size
The offer size of Bulkcorp International Limited is INR 20.78 crores, consisting of a fresh issue of 19,78,800 shares. The company seeks funds for capital expenditure, working capital needs, and general corporate purposes.
Bulkcorp International Limited IPO Allotment Structure
Bulkcrop International Limited’s allocation will be as follows: 50% for Qualified Institutional Buyers (QIB), 15% for Non-Institutional Investors (NII), and 35% for Retail Individual Investors (RII) according to SEBI regulations. 99,600 shares are reserved for market makers.
● Qualified Institutional Buyers (QIB): As per SEBI regulations, 50% of the shares offered through the IPO will be reserved for Qualified Institutional Buyers. These include entities such as banks, mutual funds, and insurance companies.
● Non-Institutional Investors (NII): 15% of the shares will be reserved for Non-Institutional Investors. These typically include corporate bodies or individuals investing more than Rs.2 lakhs.
● Retail Individual Investors (RII): The remaining 35% of the shares will be allotted to Retail Individual Investors. These individual investors apply for shares with a total value of less than Rs.2 lakhs.
● Market Maker Reservation: A portion of shares, i.e. 99,600 shares, are reserved for marker makers.
How to apply for a Bulkcrop International Limited IPO?
To apply for the Bulkcrop International Limited IPO through Alice Blue, you would typically follow these steps:
Open a Demat and Trading Account: If you don’t have one already, you must open a Demat and trading account with Alice Blue.
- Check for IPO Details: Once your account is active, you can check for the Bulkcrop International Limited IPO details in the IPO section of the Alice Blue platform.
- Place the Bid: Enter the number of shares you wish to buy and place your bid within the IPO’s price band.
- Submit the Application: Confirm all your details and submit your application.
You can apply for the Bulkcrop International Limited IPO at Alice Blue in just a few clicks!
Check Allotment Status: After the allotment process, you can check the allotment status to see if you have received any shares.
Please note that the allotment of shares is not guaranteed and will depend on the demand for the IPO.
How do you check Bulkcrop International Limited’s IPO Allotment Status?
Checking the allotment status of an IPO in Alice Blue is usually straightforward. Please follow these general steps:
- Log in to your Alice Blue Account: You can do this through the Alice Blue website or their trading app.
- Navigate to the Portfolio or IPO Section: This might differ based on the layout of Alice Blue’s platform, but generally, you can find the status of your IPO application under the ‘Portfolio’ or ‘IPO’ section.
- Find the IPO Allotment Status: Look for a sub-section called ‘IPO Allotment Status’ or something similar. This is where you can see the status of the IPOs you have applied for.
- Select the Bulkcrop International Limited IPO: If you have applied for multiple IPOs, there might be a dropdown menu or a list where you can select the IPO you are interested in. Select the Bulkcrop International Limited IPO.
- Check the Status: The status of your application should be displayed here. If the shares have been allocated to you, it would be mentioned here.
If you face any issues, it’s recommended that you contact Alice Blue’s customer support for detailed assistance.
Apart from Alice Blue, there are other ways to check the allotment status of the Bulkcrop International Limited IPO:
● Registrar’s Website: Visit the website of KFin Technologies Limited, the registrar of the Bulkcrop International Limited IPO. On the homepage, look for the ‘IPO Allotment Status’ option. You must enter your PAN, application, or Demat account number to check your allotment status. Click on the ‘Submit’ button to view your IPO allotment status.
● NSE SME: You can also check the allotment status on the official websites of the National Stock Exchange (NSE) Small Medium Exchange (SME). You would need your application number and PAN to check the status.
Please note that the allotment status will only be available after completing the allotment process, a few days after the IPO window closes.
Bulkcrop International Limited Ltd IPO Offer Registrar
The registrar for the Bulkcrop International Limited IPO is KFin Technologies Limited. They are responsible for ensuring the IPO allotment and refund processes are carried out smoothly.
Contact information for the registrar:
KFIN TECHNOLOGIES LIMITED
Selenium Tower- B, Plot 31-32,
Gachibowli, Financial District,
Nanakramguda, Serilingampally,
Hyderabad-500 032, Telangana, India.
Tel No.: +91 40 6716 2222
Email: [email protected]
Website: www.kfintech.com
Bulkcrop International Limited Limited IPO – FAQs
1. What is Bulkcrop International Limited’s allotment date?
The allotment date of the Bulkcrop International Limited IPO is August 2, 2024.
2. What is the price band of the Bulkcrop International Limited IPO?
The price band of the issue is INR 100-105 per share.
3. What is the size of the Bulkcrop International Limited IPO?
The offer size of Bulkcorp International Limited is INR 20.78 crores, consisting of a fresh issue of 19,78,800 shares. The company seeks funds for capital expenditure, working capital needs, and general corporate purposes.
4. What is the listing date of the Bulkcrop International Limited IPO?
The listing date of Bulkcrop International Limited’s IPO is August 6, 2024.
