Durlax Top Surface’s Rs. 40.80 crore from IPO Subscribe over 161 times

The initial public offering of Rs. 40.80 crore, comprises of a fresh issue of Rs. 28.56 crore (42 lakh equity shares) and offer for sale of Rs. 12.24 crore (18 lakh shares) of face value Rs. 10 each. Company has finalized price band of Rs. 65-68 per equity share for the public issue. Out of the fresh issue of Rs. 28.56 crore, company plans to utilize Rs. 17.50 crore towards part finance the working capital requirements and Rs. 6 crore towards general corporate purpose.

Mr. Shravan Suthar, Chairman and Managing Director, Durlax Top Surface Ltd, said “We extend our heartfelt gratitude to our investors for their trust and confidence in the company and its management. With the steadfast support of all our stakeholders, we are confident in our ability to implement our growth strategy effectively, generating exponential value for everyone involved.”

Source: NSE

Established in 2010, Durlax Top Surface Ltd manufactures solid surface materials. The company has two brands, namely LUXOR and ASPIRON. The LUXOR brand offers acrylic UV solid sheets while ASPIRON offers modified solid sheets. Both brands offer seamless designs, antibacterial and fire-retardant properties, ensuring a comprehensive range of high-quality solid sheets. The products are used in residential, commercial, hospitality, healthcare, outdoor and various other industries, providing stylish and durable solutions for countertops, vanities, offices, retail spaces, hotels, hospitals, outdoor projects and more. The company’s manufacturing facility is located in Vapi, Gujarat. Company also exports to 19 countries. Company’s manufacturing facility has been certified to conform to ISO 9001:2015 and ISO 14001:2015.

Business Highlights:-

Company has reported excellent operational and financial performance over years. The Company has witnessed a multi-fold growth in revenue and profitability over the years. For FY23-24 ended March, company has reported net profit of Rs. 5.05 crore (Y-o-Y growth of 141%) and revenue of Rs. 90.84 crore (Y-o-Y growth of 141%) as compared to profitability and revenue of Rs. 2.09 crore and Rs. 66.84 crore in FY22-23.

As on March 2024, Net Worth of the company was reported at Rs. 21.84 crore, Reserves & Surplus at Rs. 9.42 crore and Asset base of Rs. 105.53 crore. As on March 2024, ROE of the company was 26.20%, ROCE at 20.20% and RONW at 23.12%. Shares of the company will be listed on NSE’s Emerge platform.                

Corporate Video:- https://www.youtube.com/watch?v=p6Bgs1Oka8I&t=235s

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