Seven Hills Beverages Limited, engaged in manufacturing of packaged drinking water for Bisleri International Pvt. Ltd. at its state of art, ultra modern unit at Nasik (Maharastra) is entering the capital market with an IPO of 1.60 Cr. equity shares of Rs.10 each at a price of Rs. 26 per share (30.09% dilution). The shares will be listed on NSE Emerge Platform opens on 18 August, 2017 and closes on 23rd August. Aryaman Financial Services Ltd. is the sole lead Managers to the issue. The proceeds of the Issue will be utilized for Working Capital Requirements and General Corporate Purposes.
Co‐packers” for “Bisleri” wherein it also manufactures the bottles at its plant in order to avoid any possible contaminations and carry out the filling of purified water as well as final sealing and packaging available in 5 pack sizes: 250 ml bottles, 500 ml, 1 litre, 2 litre and 20 litre jars as per the production schedule given by Bisleri International Pvt. Ltd. on monthly basis. Company produces Packaged Drinking Water for Nasik, Shirdi, Aurangabad & other nearby areas of Maharashtra.
Recently, Seven Hills has acquired 50.49% strategic stake in Palwe Pest Control Pvt. Ltd. as a subsidiary company.With this IPO, Seven Hills will be benefitted to a great extent by increase fund based capabilities and better geographical reach. Business is expected to boost by capitalizing on brand strength of Bisleri and future expected inorganic growth.
As per Proforma financial statement in Prospectus, the consolidated turnover amounted to Rs. 1260.91 lacs, EBITDA amounted to Rs. 305.97 lacs and Net Profit amounted to 161.94 lacs with 12.84 % for year ended March 2017. The consolidated Return on Capital amounted to a healthy 30.96 % and Return on Equity stands at 77.28 % with Earnings Per Share at Rs. 4.34 and Price to Earnings Ratio at 5.99.
Considering financial ratios, business valuation and turnaround by the new management, the issue seems multi bagger for medium to long term perspective, if we consider large peers like Varun Beverages Ltd. & Orient Beverages Ltd.
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