Exxaro Tiles IPO ANALYSIS
Exxaro Tiles is engaged in the manufacturing and marketing activities of vitrified tiles. The company got established in 2008. The company manufactures Double Charge Vitrified Tiles (double layer pigment) and Glazed Vitrified Tiles made from ceramic materials i.e. clay, quartz, and feldspar. Its product portfolio consists of 1000+ different designs of tiles in 6 sizes. Topaz Series, Galaxy Series, and High Gloss Series are some of the well-established products of the company.
It supplies its products to large infrastructure projects i.e. residential, educational, commercial, hotels, hospitals, government, builders or developers, religious institutions, etc. It also exports tiles to different countries across the globe i.e. Poland, Bosnia, USA, and others.
Currently, Exxaro Tiles has 2 state-of-the-art manufacturing facilities in Padra and Talod with an installed production capacity of 1,32,00,000 sq. mt per annum. It further has 6 display centres in 6 cities and 2 marketing offices in Delhi and Morbi.
For FY 21, the company had total assets of Rs 3693.14 million and a Revenue of Rs. 2598.53 million. Total Assets, Revenue & PAT showed an increase from the past two financial years, which is a good sign.
The opening IPO date is Aug 4, 2021 till Aug 6, 2021 with the IPO price of Rs ₹118 to Rs 120 per equity share. The issue size of the IPO is supposed to be ₹161.09 Cr. It is not highly suggestible to invest for long term in Exxaro Tiles looking at the current portfolio of the company. The company may grow in future if company will expand its operations.
