Standard Glass Lining IPO: The good and the bad

Published: 06th Jan 2025 By: Value Research

About Standard Glass Lining

[{"selector":"#anim-de1db3b5-ed68-4a5a-9223-4c85b6ac5503","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-6b50f019-5606-4008-9b23-7db928c16b91","keyframes":{"transform":["translate3d(-114.07186%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-8e576e6b-b2d2-49a0-a583-d383bef29844","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-b2d67342-bd6d-4d71-87b0-2f4871df6a12","keyframes":{"transform":["translate3d(-115.01598%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Standard Glass Lining is an engineering equipment manufacturer that serves the pharmaceutical, chemical, and food & beverage industries. Its product portfolio includes heat transfer systems, storage tanks, pipes, etc. The company's customer base included 347 companies as of September 2024.

IPO details

Post-IPO

Financial history

EBIT is earnings before interest and tax PAT is profit after tax

Key ratios

ROE is return on equity ROCE is return on capital employed

The good

[{"selector":"#anim-7048d8b4-b6e6-4a5e-a901-9ae998224db7","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-0ede5174-def6-4b9b-b064-439fcd7371ef","keyframes":{"transform":["translate3d(0px, 169.48151%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] The company counts giants like Aurobindo Pharma, Granules India, Natco Pharma, Piramal Pharma and Suven Pharmaceuticals among its clients. On average, it derived close to 58 per cent of its revenue from repeat orders in the last three financial years.

The bad

[{"selector":"#anim-ed1bffab-99e7-45fa-a947-cd6b8c3acbd5","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-ecd53a69-2194-411c-b5df-7160c99104a9","keyframes":{"transform":["translate3d(0px, 176.14123%, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] The company had high working capital days of 151 as of FY24, as its receivables days stretched over three months. It’s reliant on short-term borrowings to meet its working capital needs.

Other Webstories

[{"selector":"#anim-d6408601-7bb0-4c5b-8e99-037a0a2782e5","keyframes":{"opacity":[0,1]},"delay":200,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-1f9ce401-d95d-4d55-9fcf-3f000681c993","keyframes":{"transform":["translate3d(-125.51724%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":200,"duration":1000,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-108feac7-eeeb-441b-914b-d5208abe6a0c","keyframes":{"opacity":[0,1]},"delay":300,"duration":2000,"easing":"cubic-bezier(0.4, 0.4, 0.0, 1)","fill":"both"}] [{"selector":"#anim-b7ac6387-468f-40b7-a86c-28d74b2d2dc6","keyframes":{"opacity":[0,1]},"delay":400,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-b479f2ab-4a9a-458b-aebc-524cf0924ab8","keyframes":{"transform":["translate3d(-194.52735%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":400,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-1538f2cb-59a3-46ef-92b7-96ad0718e845","keyframes":{"opacity":[0,1]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] [{"selector":"#anim-b41f2d72-580e-442f-902c-b6dfbb01a569","keyframes":{"transform":["translate3d(-125.51724%, 0px, 0)","translate3d(0px, 0px, 0)"]},"delay":0,"duration":600,"easing":"cubic-bezier(0.2, 0.6, 0.0, 1)","fill":"both"}] Click Here