Standard Glass Lining IPO Important Dates and Financial Performance

Standard Glass Lining IPO will open on January 6, 2025, and close on January 8, 2025. Standard Glass Lining Technology, incorporated in 2012, is India’s one of the top five specialized engineering equipment manufacturing companies in the pharmaceutical and chemical sectors (based on the revenue earned in FY24). In this blog, we’ll uncover all the Standard Glass Lining IPO details, financial performance, peer analysis, and risk factors.

Standard Glass Lining IPO Important Dates

The key pointers for the Standard Glass Lining IPO important dates are:

• Bidding Opening Date: January 6, 2025
• Bidding Closing Date: January 8, 2025
• Basis of Allotment Date: January 9, 2025
• Initiation of Refunds (in case of less or no allotment): January 10, 2025
• Shares Credited to Your Demat Account: January 10, 2025
• IPO Listing Date: January 13, 2025
• Listing on Exchange: NSE and BSE

Standard Glass Lining Technology Limited IPO Issue Size

Standard Glass Lining IPO valuation is set at around ₹410 crores with both the fresh issue and OFS component.

Here are the important Standard Glass Lining IPO details:

• Price Band: ₹133 – ₹140 per share
• Face Value: ₹10 per share
• Standard Glass Lining IPO Lot Size: 107 Shares
• Issue Size and Amount: 2,92,89,367 shares (amounting to ₹410.05 crores)
• Fresh Issue Size and Amount: 1,50,00,000 shares (amounting to ₹210 crores)
• Offer for Sale and Amount: 1,42,89,367 shares (amounting to ₹200.05 crores)

Standard Glass Lining IPO Proceeds Usage

Standard Glass Lining Technology Limited IPO proceeds will be used for the following purposes:

• To fund the capital expenditure requirement of the company for purchasing machinery and equipment.
• To repay or pre-pay the loans taken by the company and wholly owned material subsidiary, S2 Engineering Industry Private Limited.
• To invest in the S2 Engineering Industry Private Limited and fund its capital expenditure requirements towards the purchase of machinery and equipment.
• To fund inorganic growth through acquisitions and strategic investments.
• For other corporate requirements

Standard Glass Lining IPO Reservations

Standard Glass Lining IPO reservations to different investors are:

• For QIBs: Not more than 50% of the offer
• For NIIs: Not less than 15% of the offer
• For Retail Investors: Not less than 35% of the offer
• Standard Glass Lining IPO Shareholder Quota: There is no provision of shareholder quota in this IPO.

Standard Glass Lining IPO Lot Size

Standard Glass Lining IPO lot size is 107 shares, wherein bidding can be done in further multiples. The minimum and maximum of the lot size that each category of investor can apply in this IPO are:

Applicant Type	Lot Size	Shares	Amount (in ₹)
Retail (Min)	1	107	₹14,980
Retail (Max)	13	1,391	₹1,94,740
S-HNI (Min)	14	1,498	₹2,09,720
S-HNI (Max)	66	7,062	₹9,88,680
B-HNI (Min)	67	7,169	₹10,03,660

Standard Glass Lining IPO Details: Promoter Holding

The current promoters of Standard Glass Lining Limited are:

• Nageswara Rao Kandula
• Kandula Krishna Veni
• Kandula Ramakrishna
• Venkata Mohana Rao Katragadda
• Kudaravalli Punna Rao
• M/s S2 Engineering Services

The selling shareholders in this IPO are M/s S2 Engineering Services, Kandula Ramakrishna, Venkata Siva Prasad Katragadda, Mahitha Katragadda, etc.

Standard Glass Lining IPO: Company Overview

Standard Glass Lining Technology is involved in the designing, engineering, manufacturing, assembly, installation, and commissioning of solutions in the pharma and chemical sectors. It also works to establish standard operating procedures (SOPs) for pharmaceutical and chemical manufacturers on a turnkey basis.

The portfolio includes the core equipment used in the manufacturing of pharmaceutical and chemical products such as reaction systems, storage, separation, and drying systems, and plant, engineering, and services.

In FY24, the company is on the list of India’s top three manufacturers of glass-lined, stainless steel, and nickel alloy-based specialized engineering equipment as well as the suppliers of PTFE-lined pipelines and fittings.

Standard Glass Lining Technology Limited IPO: Financial Performance

Standard Glass Lining Technology’s key financials for different periods are as follows:

Particulars	30 Sep 2024	31 Mar 2024	31 Mar 2023	YoY Change
Revenue	312.1	549.68	500.08	10%
Profit After Tax	36.27	60.01	53.42	12%
Assets	756.52	665.38	347.79	91%
EBITDA	62.71	100.92	88.26	14%
Total Borrowing	173.8	129.32	81.96	58%

*(in ₹ crores)

• In FY24, Standard Glass Lining Technology’s revenue grew by 10% YoY and PAT also rose by 12% YoY.
• In FY24, assets increased by 91% YoY, and EBITDA also rose by 14% YoY.
• The total borrowing increased by 58% YoY in FY24 which is a negative sign.

Peer Analysis of Standard Glass Lining IPO

The comparison of Standard Glass Lining Technology’s performance with its peers in the same industry is as follows:

Company Name	EBITDA Margin (%)	PAT Margin (%)	ROE	ROCE	ROA	Total Debt to Equity	EPS (Basic)
Standard Glass Lining Technology	18.36%	10.92%	20.74%	25.49%	11.85%	0.32	₹3.52
GMM Pfaudler	14.33%	5.02%	20.23%	23.74%	5.34%	0.94	₹39.80
HLE Glascoat	12.38%	4.19%	7.99%	12.68%	3.90%	0.93	₹6.52
Thermax	10.78%	6.73%	15.53%	23.02%	6.77%	0.29	₹57.30
Praj Industries	12.29%	8.07%	24.09%	35.10%	10.28%	0.13	₹15.42

*(For FY24 ending)

• In FY24, Standard Glass Lining Technology’ EBITDA and PAT margins were the highest among its peers.
• ROE, ROCE, and ROA are competitive and in line with the peer performance.
• The total debt-to-equity ratio was less than 1, which means that Standard Glass Lining Technology is relying less on debt for funding.
• EPS is the lowest among the peers highlighting the company’s poor performance in generating returns for shareholders.

Risk Factors in Standard Glass Lining Technology Limited IPO

Standard Glass Lining IPO GMP is ₹86 (as of January 3, 2025) and it is expected to list at 61.43% gains. However, GMP is not the safe and assured criterion to bid for an IPO. The company is exposed to various risk factors which can eventually affect the business and investor’s perception:

1. All the manufacturing facilities are located in Telangana and they are also subject to natural risk, and economic or political changes which can affect the business operations.
2. Business performance is dependent on the availability and retainment of skilled labor and workforce.
3. Reliance on a few suppliers for procurement of raw materials and loss of one supplier can affect the manufacturing processes.
4. The concentration of revenue towards the customers operates in the pharmaceuticals and chemicals industry.
5. Continuation of negative cash flows made in the past can impact the business and financial performance.

Standard Glass Lining IPO Details: Contact Information

For inquiries related to the Standard Glass Lining IPO details, you can contact at the following places:

Registered Office Address: D.12, Phase-1, IDA Jeedimetla, Hyderabad, Telangana 500055, India
Email: corporate@standardglr.com
Company Website: http://www.standardglr.com/

Standard Glass Lining IPO Registrar Details:

Registrar Name: KFin Technologies Limited
Phone: 91 40 6716 2222
Email: sgltl.ipo@kfintech.com

For all the insights on Standard Glass Lining IPO and detailed expert advice, you can download the SMC ACE App or visit the SMC telegram channels. Take smart decisions and apply for this IPO easily on the SMC ACE App by opening demat account now.

Frequently Asked Questions – FAQs

1. Who is the CEO of Standard Glass?

Mr. Kandula Nageswara Rao is the managing director (CEO) of Standard Glass Lining Technology Limited.

2. What is the revenue of Standard Glass Lining?

The revenue of Standard Glass Lining Technology was ₹312.1 crores in the first half of FY25.

3. Is Standard Glass Lining listed?

Standard Glass Lining IPO is a mainboard IPO and it will list on January 13, 2025 on NSE and BSE.

References:
https://www.sebi.gov.in/filings/public-issues/dec-2024/standard-glass-lining-technology-limited-rhp_90399.html

SMC Global Securities Research Team

Author: All Content is verified by SMC Global Securities.