Hindcon Chemicals IPO opens today
The net proceeds from the IPO will be utilized for meeting working capital requirements, general corporate and issue expenses. The Lead Manager to the Issue is Hem Securities Limited, a leader in SME IPOs and the Registrar to the Offer is Link Intime India Private Limited.
Sanjay Goenka, Managing Director and Promoter, Hindcon Chemicals Ltd said, “Hindcon Chemicals with its comprehensive construction chemicals range is dedicated in its quest to attain the highest level of qualitative production in the industry. The Company is focused on modifying its products to eliminate any harmful ingredient and serve the consumer, community and country with eco-friendly finished materials. With several decades of concrete experience in the field, wide range of products and strong R&D back-up, the Company is poised for strong growth and well positioned to become a leader in the segment, increase its market share and profitability. In F.Y. 2016-17, our net revenue of operations comprised of Rs33.94cr of which 32.14% contributes to export sales to Nepal, Bhutan and Bangladesh. Our key product portfolio includes Protective waterproofing coatings, Sodium Silicates, Concrete & mortar admixtures, Epoxy grouts & mortars, Waterproofing compounds, shot crete aids, Remover cleaning compounds, Sealants, Tile adhesives, among others.”
Hindcon Chemicals, incorporated in 1998, has been in the business of construction chemicals for the last 20 years. The Company has over 100 products in its portfolio with main foray into sodium silicate, waterproofing additives, plasticizers etc. The Company has its manufacturing facility located in Howrah which has an installed capacity of 30,000 MT per year. The total revenue of the Company for the half year ended on September 30, 2017, stood at Rs1812.55 lakhs, for F.Y. 2016-17 – Rs3424.97 lakhs, for F.Y. 2015-16 – Rs3345.37 lakhs, and for F.Y. 2014-15 Rs3496.44 lakhs. Further, the Company’s Profit after tax for the half year ended on September 30, 2017, stood at Rs218.87 lakhs, for F.Y. 2016-17 – Rs205.95 lakhs, for F.Y. 2015-16 – Rs86.20 lakhs and for F.Y. 2014-15 Rs34.48 lakhs.