Pritika Engineering Components Limited is engaged in the business of manufacturing of precision machined components primarily for the automotive industry, especially for tractors, trucks, and other commercial vehicles, etc. The company manufactures various Tractors & Automobile components like End Covers, Cover Sealed Brakes, Differential Cases, Cover Hydraulic Lift, Cover Transcase, Front Wheel hubs, Fly Wheel Housing, Rear Axle Casings, Hydraulic Lift Covers, Brake Housing & Front Engine Supports etc.
Pritika Engineering manufactures customized products for tractors, commercial vehicles & other construction equipment, etc which are supplied to Original Equipment Manufacturers (OEMs) directly/through the group companies.
The company was previously listed on Calcutta Stock Exchange and the same was directly listed on the Bombay stock exchange dated October 01, 2015.
Pritika Engineering Components Limited’s manufacturing unit is located in Punjab. The company’s clients include Ashok Leyland, Eicher, Mahindra, Tafe, and Swaraj, among others.
The total revenue for the year 2021-22 is Rs 5,739.58 lakhs. Pritika Engineering Components Limited is a wholly owned subsidiary of Pritika Auto Industries Limited.
Competitive Strengths:
- Quality standards.
- Experienced and professional management team.
- Wide product range and product segments.
- Legacy Business Process & Management.
- Strong & experienced R&D team.
Company Financials
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth | Total Borrowing |
|---|---|---|---|---|---|
| 31-Mar-20 | 4134.38 | 2172.4 | 13.75 | 538.8 | 2023 |
| 31-Mar-21 | 5594.29 | 3244.36 | 38.18 | 1262.13 | 2196.71 |
| 31-Mar-22 | 7107.36 | 5739.58 | 546.17 | 1652.62 | 2507.67 |
| 30-Sep-22 | 8121.82 | 4340.24 | 185.53 | 1832.88 | 3161.13 |
| Amount in ₹ Lakhs |
Objects of the Issue
The Company proposes to utilize the funds which are being raised through this Issue (“Net Proceeds”) towards the following object:
a) Investment in relation to the new unit set up by the wholly owned subsidiary, Meeta Castings Limited (MCL);
b) General Corporate purposes
Pritika Engineering Components IPO Details
| IPO Date | Nov 25, 2022 to Nov 30, 2022 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price | ₹29 per share |
| Lot Size | 4000 Shares |
| Issue Size | 3,248,000 shares of ₹10 (aggregating up to ₹9.42 Cr) |
| Fresh Issue | 3,248,000 shares of ₹10 (aggregating up to ₹9.42 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | NSE SME |
| NII (HNI) Shares Offered | 50% of the net offer |
| Retail Shares Offered | 50% of the net offer |
| Market Maker | SMC GLOBAL SECURITIES LTD. |
| Company Promoters | Pritika Auto Industries Limited is the company promoter. |
Pritika Engineering Components IPO Tentative Timetable
Pritika Engineering Components IPO opens on Nov 25, 2022, and closes on Nov 30, 2022. The Pritika Engineering Components IPO bid date is from Nov 25, 2022 10.00 A.M. to Nov 30, 2022 5.00 P.M. The Cut-off time for UPI Mandate confirmation is 5 PM on the issue closing day.
| Event | Tentative Date |
|---|---|
| Opening Date | Nov 25, 2022 |
| Closing Date | Nov 30, 2022 |
| Basis of Allotment | Dec 5, 2022 |
| Initiation of Refunds | Dec 6, 2022 |
| Credit of Shares to Demat | Dec 7, 2022 |
| Listing Date | Dec 8, 2022 |
Pritika Engineering Components IPO Lot Size
The Pritika Engineering Components IPO lot size is 4000 shares. A retail-individual investor can apply for up to 1 lots (4000 shares or ₹116,000).
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 4000 | ₹116,000 |
| Retail (Max) | 1 | 4000 | ₹116,000 |
Pritika Engineering Components IPO Promoter Holding
| Pre Issue Share Holding | 100% |
| Post Issue Share Holding |
Pritika Engineering Components IPO Review
PECL is in a highly competitive segment that is fragmented and has many big players around. It has fared on average except for FY22 with super profits. Based on its FY23 earnings, the issue is lucratively priced, but the sustainability of such margins going forward raises concerns. Well-informed, cash surplus risk seekers may consider an investment with a long-term perspective. Read detail review…
Pritika Engineering Components IPO Prospectus
Company Contact Information
Pritika Engineering Components Limited
Plot No. C-94,
Phase-VII Industrial Focal Point,
S.A.S Nagar, Mohali, Punjab 160055
Phone: +91 9878723399
Email: compliance.pecl@pritikagroup.com
Website: http://www.pritikaengineering.com/index.html
Pritika Engineering Components IPO Registrar
Satellite Corporate Services Private Limited
Phone: +91-22- 28520461/462
Email: sme.ipo@satellitecorporate.com
Website: http://www.satellitecorporate.com