Ongoing SME IPO_Sonam Clock Limited IPO

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Sonam Clock Limited IPO

Issue Analysis

Issue opens June 1, 2018
Issue Closes June 6, 2018
Issue Price 36
Lot Size 3000
Issue Size 10.11 Cr
Lead Manager Hem Securities Limited
Registrar Bigshare Services Pvt. Ltd
Platform NSE

Company’s Snapshot

Incorporated in 2001, Gujarat based Sonam Clock Limited is a company engaged in clock manufacturing. The company offers a wide range of table and wall clocks at various price points across the budget, mid-level and premium styles. As on February’18, it is offering LED digital clocks, LCD clocks, light sensor clocks, pendulum clocks, musical clocks, rotating pendulum musical clocks, sweep clocks, office clocks, designer clocks, alarm clocks, table clocks and regular clocks.

Sonam also offers customized corporate clocks in bulk quantities for corporate gifting purpose. The products are sold mainly to clock dealers, retailers, corporates, gifts and novelties stores, through which it reaches to the end-consumers. The products are sold under the brand name of Sonam, ampm, and Lotus. In F.Y. 2016-17, the net revenue from operations comprised of Rs. 3792.85 lakhs of with approximately 40% comprised of export sales to Middle – East countries such as Dubai and Iraq. The company’s Manufacturing facility is located in Morbi, Gujarat and has at present installed production capacity of approximately 72 lakhs p.a. for clocks and 240 lakhs p.a. for clock movements. It is also engaged in the sale of clock parts which includes clock movements, clock cases etc.

The Company has employed 304 permanent full-time employees (including senior Management) at various levels of the Organization.

Object of the Issue

The objects of the Issue are-

  1. Funding the Working Capital Requirements of the Company
    2. Repayment of Unsecured Loan availed by the Company
    3. General Corporate Expenses
    4. Issue Expenses

Financial Highlights

Summary of financial Information (Restated)
Particulars For the year/period ended (in Rs. Lakhs)
31-Mar-17 31-Mar-16 31-Mar-15 31-Mar-14 31-Mar-13
Total Assets 3,493.92 3,416.94 2,852.49 3,007.50 2,713.59
Total Revenue 3,903.16 3,682.35 3,405.67 3,355.35 3,371.47
Profit After Tax 80.70 268.11 40.99 57.52 45.53

 

Company Promoters:

The Promoters of the Company are Mr. Jayeshbhai Chhabildas Shah and Mrs. Deepaben Jayeshbhai Shah. Mr. Jayeshbhai Chhabildas Shah holds 62,39,200 Equity Shares and Mrs. Deepaben Jayeshbhai Shah holds 4,80,000 Equity Shares of the Company. They will continue to hold the majority of the post-issue paid-up equity share capital of the Company.

 

Contact Company Information:

Sonam Clock Limited
: Survey No. 337/p, Morbi Rajkot Highway
Village Lajai, Taluka Tankara,
District Morbi – Gujarat – 363641, India
Phone: +91-2822-285017
Fax: +91 2822 285987
Email: info@sonamquartz.com
Website: http://www.sonamquartz.com/

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