Shree Tirupati Balajee Agro Trading Company Limited launches Public Issue of up to Rs 169.65 crore

Out of the total issue proceeds, company plans to utilise Rs. 31.45 crore for repayment and/or prepayment, in part or full, of certain of our outstanding borrowings, Rs. 20.82 crore investment in subsidiaries HPPL, STBFL and JPPL for repayment and/or prepayment, in part or full, of certain of outstanding borrowings, Rs 13.50 crore towards working capital requirements, Rs. 10.74 crore for investment in subsidiaries HPPL, STBFL and JPPL for funding working capital requirements and general corporate purposes. The public issue opens for subscription on September 05 and closes on September 09, 2024. The company’s shares will be listed n the BSE & NSE.

Established in October 2001, Shree Tirupati Balajee Agro Trading Company Limited manufactures and sells Flexible Intermediate Bulk Containers (FIBCs), i.e., large flexible bags, and other industrial packaging products such as woven sacks, woven fabric, narrow fabric, and tapes in the Indian domestic market and overseas. The company offers customized products and caters to the bulk packaging needs of clients from various industries, including chemicals, agrochemicals, food, mining, waste disposal, agriculture, lubricants, and edible oil. The company operates through subsidiaries such as Honourable Packaging Private Limited (HPPL), Shree Tirupati Balajee FIBC Limited (STBFL), and Jagannath Plastics Private Limited (JPPL).

The company operates five manufacturing units. Units I and II are certified with ISO 9001:2015 and ISO 14001:2018. Unit III is certified with ISO 9001:2015, ISO 45001:2018, ISO 14001:2015, ISO 14064-1:2018, and the SEDEX SMETA four-pillar. The company’s certifications cover the production of Flexible Intermediate Bulk Containers (FIBC), Woven Sacks, and Fabrics of PP (Polypropylene) and HDPE (High-Density Polyethylene). As of July 2024, the company has 857 department employees.

The financial performance of the company has exhibited considerable progress over the years. The company has seen a consistent increase in revenue from operations and profit after tax (PAT). Revenue from operations increased from Rs. 454 crore in FY22 to Rs 478 crore in FY23 to Rs 553 crore in FY24. PAT increased from Rs 13.66 crore in FY22 to Rs 20.72 crore in FY23 to Rs 36.07 crore in FY24.

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