Initial Public Offering - Jinaam’s Dress Ltd.

Business Background: 

Jinaam’s is a manufacturer of Indian ethnic and fusion wear for women. Jinaam’s design manufacture and market women’s apparels across multiple brands. 

Th products are distributed through distribution network spread across around 19 states and 4 union territories in India. Jinaam’s operate a retail store for women’s apparel located at The Gateway Hotel, Surat, Gujarat. They also have an exclusive tie up with e-commerce platform www.manndola.com, owned by one of the group company, for online marketing and selling of our products.

Business Analysis - Kirloskar Ferrous Industries Ltd.

Background

Kirloskar Ferrous Industries (KFIL), incorporated in 1991, is engaged in manufacturing of pig iron and ferrous casting used in automobile and tractor industries. KFIL was promoted by Kirloskar Oil Engines Limited (KOEL) and Shivaji Works Limited (SWL) and in 2007, SWL was later acquired by KOEL. 

Company caters to the requirement of pig iron, intricate thin walled grey iron castings to the tractor, auto, engine and other related segments. Company has two manufacturing facilities located in Karnataka and Maharashtra. KFIL’s manufacturing plants are integrated and strategically located in close proximity to iron ore deposits of Hospet-Sandur-Bellary belt at Karnataka.  

Business Analysis: Precision Camshafts

Background:

Precision Camshafts Ltd. (PCL) is a Solapur based manufacturer and supplier of camshafts. Camshaft is heart of an engine and significantly affects the engine’s performance. A new entrant may need 2.5 to 3 years to develop industry acceptable camshaft product.

PCL supplies over 150 varieties of camshafts for passenger vehicles, tractors, light commercial vehicles and locomotive engine applications from the manufacturing facilities in Solapur, Maharashtra. PCL has around 8-9% market share in automobile engines  of size 1-2 litres

Exports to OEMs contribute 70-75% of the revenue with Europe alone contributing ~64% of the revenue. Ford and General Motors are PCL’s largest customers contributing ~70% of the revenues. PCL mainly supports the small and medium size car segments of Ford and GM which are doing well. PCL’s client base includes OEM’s like Hyundai, Maruti Suzuki, Tata Motors, Mahindra and Mahindra among others. 

Business Analysis: Bedmutha Industries

Background:

Bedmutha Industries Ltd is a manufacturer of Steel and copper wire products including - wire rope, tyre bead wire, galvanized wires, galvanized patented wire, phosphate patented wire, HC wire for ropes, spring wire, cable armouring wire, earth wire, stay wire, barbed wire etc.

Business Analysis: Meghmani Organics Ltd.

Background:

Meghmani Organics Ltd. (MOL) is diversified pigment, agrochemicals and basic chemical (Caustic- chlorine chemicals) manufacturer based in state of Gujarat. MOL started manufacturing pigments in 1986 and later diversified in agrochemical and basic chemicals. MOL has multiple foreign subsidiaries in Dubai, USA, Indonesia, Europe for marketing and distribution of its products overseas. Company exports to 75 countries servicing 400+ clients. 

Meghmani Finechem Ltd. (MFL) is significant subsidiary of MOL. MOL holds 57% shares in MFL. IFC holds 25%; other 18% is held by the promoters. MFL manufactures Caustic- Chlorine based chemical products.

Arman Financial Services Ltd.

Introduction:

Arman Financials Services Ltd. (AFSL) and its wholly owned subsidiary Namra-Microfinance Ltd.  offer vehicle finance and JLG (Joint Liability Group) micro-finance loans. Namra is wholly owned subsidiary of Arman. Arman was originally incorporated in 1992 as Arman Lease & Finance Ltd. & made its Initial Public Offering (IPO) on August 21, 1995. 

Micro- finance business has presence in four states through ~78 branches and vehicle finance business has presence in two states with six branches and 50 dealer locations. 

Analysis: Pricol Ltd.

Pricol is a Coimbatore based family run business manufacturing automotive components and related products. Pricol provides service to all segments of auto industry - two wheelers, tractors, passenger cars & off road vehicles across Asia, Europe and Amercias.

Pricol’s key business lines are:

1. Driver Information Systems & Sensors: Instrument cluster, fuel level sensors, speed sensor, temperature sensor, pressure sensor. Pricol is the second largest manufacturer of two-wheeler instrument cluster market. 

2. Asset Management Solutions: Asset tracking and monitoring system, centralised lubrication system, digital fare metre, speed governor.

3. Telematics, Body Control and Security Solutions: Park assist system, body control unit, display & infotainment 

4. Pumps & Mechanical Products: Oil pumps, water pumps, fuel pumps, vacuums switching valves, idle speed control valves pressure relief valve