Published: 09th Aug 2024
By: Value Research
Saraswati Saree Depot is a women’s ethnic wear wholesaler, primarily dealing in sarees. Serving over 13,000 customers, it operates from its two stores in Kolhapur and Ulhasnagar, Maharashtra.
Total IPO size (Rs cr) 160 Offer for sale (Rs cr) 56 Fresh issue (Rs cr) 104 Price band (Rs) 152-160 Subscription dates August 12-14, 2024 Purpose of issue Working capital requirement
M-cap (Rs cr) 634 Net worth (Rs cr) 169 Promoter holding (%) 74.70 Price/earnings ratio (P/E) 21.5 Price/book ratio (P/B) 3.8
Key financials (Rs cr) 2Y growth p.a. (%) FY24 FY23 FY22 Revenue 5.4 611 602 550 EBIT 39.6 39 33 20 PAT 54.9 30 23 12 Net worth 128.7 65 35 12 Total debt -19.2 44 41 67
Ratios 3Y average FY24 FY23 FY22 ROE (%) 84.7 58.9 96.1 99.2 ROCE (%) 36.9 42.6 42.4 25.6 EBIT margin (%) 5.2 6.5 5.5 3.7 Debt-to-equity 2.4 0.7 1.2 5.4
Saraswati Saree Depot maintains a diversified supply chain with over 900 weavers and suppliers across various states. In FY24, the top 10 suppliers accounted for only 25% of its total purchases.
The company’s revenue is heavily concentrated, and its operating profit margins are slim. To read why, check the complete risk report in our full story.