Precision Metaliks Limited IPO Opens On 19th January 2022
Mumbai. 18 January. Visakhapatnam based Precision Metaliks Limited will have its IPO opened on 19th January 2022. This Public Issue of 43,00,000 equity shares of the face value of Rs. 10 each for cash at a price of Rs. 51 per equity share, including a premium of Rs. 41 per equity share aggregating to Rs. 2193 lakhs will list on the NSE Emerge Platform. The IPO will close on 24 January 2022. The Lead Manager to the IPO is First Overseas Capital Limited and the Registrar is Bigshare Services Private Limited.
Precision Metaliks Limited is among major players in automobile components in Southern India and provides value-added services on alloy wheels, automated cleaning of aluminium chips + briquetting into ingots, robotic polishing of alloy wheels and other engineering services. The Company’s competitive strengths are offering cost-effective, precise & automated solutions, repeat orders from customers and a strong team to execute the orders professionally. Precision Metaliks Limited offers all these for domestic and export markets through home-grown techniques and innovations. The Company’s manufacturing plant at Visakhapatnam SEZ entails several tax benefits.
Precision Metaliks Limited’s customers in India include Synergies Castings Limited, which is India’s leading non-ferrous component company, manufacturing four-wheeler alloy wheels, aluminium castings and plastic components for domestic as well as global Automobile OEMs. Overseas, it includes Silver MetalX INC, a company based out of USA in the business of supply of aluminium wheels and chrome-plated wheels to OEMs and aftermarket in the USA, and Synergies Castings LLC, Sultanate of Oman, a collaboration between Oman Government and Synergies Castings Limited, India to set up an Alloy Wheel manufacturing facility in Oman.
The reports brought out by the World Economic Forum and other such organizations suggest that with pandemic brought under control through Vaccines and other initiatives, the world is moving into rapid economic growth. The fiscal and other policies will spur demand. The hand-off approach on private activities such as the buildup of excess household savings over the past five quarters tended to accumulate more in countries with larger above-the-line fiscal support to households, which buffered disposable incomes. All this will boost the economies and will also be beneficial to the automobile sector.
With the introduction of EV, more and more focus on weight reduction of automobiles will prove beneficial to Precision Metaliks Limited.
The Company posted total revenue of Rs 4924.13 lakhs, 2217.96 lakhs and Rs.5.25 lakhs for FY ending 31.3.21, 31.3.20 and 31.3. respectively. In these periods, it earned the Profits after Tax of Rs. 149.35 lakhs, Rs. 82.39 lakhs and Rs. 0.46 lakhs respectively. Basic Earnings Per Share stood at 14.42, 18.39 and 0.92 in the corresponding period. In the six months ended September 30, 2021, the Company has clocked the Revenue of Rs. 4813.35 lakhs, profit after tax has been more than last full year’s profit to Rs. 214.57 lakhs and Basic EPS is at 1.79.