Kent RO gets SEBI nod for IPO, DRHP shows mixed financial performance over years
Mumbai: Kent RO Systems, a water purifier company, has received approval from the Securities and Exchange Board of India (SEBI) to launch its initial public offering (IPO).
While this marks an important milestone for the company, its financials tell a mixed story with some concerns.
Kent RO's latest financial data reveals a strong profit jump in FY24, but this comes after a sharp fall in the previous fiscal (FY23).
The company had posted a profit of Rs 166.5 crore for the year ended March 31, 2024, compared to Rs 97.1 crore in FY23.
While this is a big jump of around 71 per cent, it's important to note that the profit had dropped by over 37 per cent in FY23 from Rs 154.2 crore in FY22.
The company's total expenses also rose by 6.42 per cent year-on-year (YoY), from Rs 976.9 crore in FY23 to Rs 1,039.6 crore in FY24.
According to the DRHP, the company reported revenue from operations of Rs 1,178.1 crore for the FY24, compared to Rs 1,084.3 crore in the previous financial year.
This marks a growth of around 8.65 per cent YoY. Total income for FY24 stood at Rs 1,260.6 crore, up from Rs 1,109.1 crore in FY23 -- an increase of 13.65 per cent.
Meanwhile, for the six-month period ending September 30, 2024, Kent RO reported revenue from operations at Rs 637.1 crore and total income at Rs 684 crore.
During the same period, the company recorded expenses of Rs 594.6 crore and a profit of Rs 69.6 crore, as per the DRHP paper.
The IPO, which is a pure offer for sale (OFS), will see 10.1 million shares offloaded by promoters Sunita Gupta, Mahesh Gupta, and Varun Gupta.
Since it is not a fresh issue, the company itself will not receive any funds from this public offering.
The draft paper was filed with SEBI on January 23, and the approval came on June 6. The IPO price band has not been disclosed yet.
JM Financial and Motilal Oswal Investment Advisors will act as the book-running lead managers, while KFin Technologies is the registrar to the issue.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
News18
23 minutes ago
- News18
Monolithisch India IPO Day 2: Check Subscription Status, GMP Today
Last Updated: Monolithisch India IPO GMP: Unlisted shares of Monolithisch India Ltd are trading at Rs 189 apiece in the grey market, which is 32.17% premium over the IPO price of Rs 143. Monolithisch India IPO Day 2: The initial public offering of Monolithisch India Ltd, which was opened for public subscription on June 12, has already been oversubscribed. Till 1:19 pm on the second day of bidding on Friday (June 13), the Rs 82.02-crore NSE SME IPO received a 4.51 times subscription, garnering bids for 1,72,20,000 shares as against 38,15,000 shares on offer. The retail and NII participation stood at 5.82 times and 2.82 times, respectively. Its qualified institutional buyer (QIB) category got a 3.50 times subscription. Monolithisch India Ltd, founded in August 2018, manufactures specialised ramming mass used as heat insulation in induction furnaces for the iron, steel, and foundry industries. It has major clients in eastern India and a production unit in Purulia, West Bengal. The three-day IPO will be closed on Monday, June 16. It received a 2.26 times subscription on the first day of bidding on Thursday. The price has been fixed in the range of Rs 143 apiece. Monolithisch India IPO GMP Today According to market observers, unlisted shares of Monolithisch India Ltd are currently trading at Rs 189 apiece in the grey market, which is a 32.17% premium or GMP over the IPO price of Rs 143. It indicates listing gains for investors on June 19, the tentative listing date. The shares will be listed on the NSE's SME platform. The minimum lot size for an application is 1,000. The minimum amount of investment required by retail investors is Rs 1,43,000. The bidding can be done in multiple of 3,000. Monolithisch India IPO is a book-built issue worth Rs 82.02 crore, consisting entirely of a fresh issue of 54.48 lakh shares. The IPO opened for subscription on June 12, 2025, and will close on June 16, 2025. Allotment is expected on June 17, and the shares are likely to be listed on the NSE SME platform on June 19, 2025. Hem Securities Limited is the book-running lead manager, Kfin Technologies is the registrar, and Hem Finlease Private Limited is the market maker for the issue.
News18
23 minutes ago
- News18
'I Earn 0.1 Lakh': Woman's Interview On Income Goes Viral; Netizens Praise ‘Sense Of Humour'
Last Updated: A woman's street interview went viral after she humorously stated her income as "0.1 lakh" per month, equating to Rs 10,000. A recent street interview with a woman has gone viral on social media, sparking widespread amusement and curiosity. The woman was asked about her income, responding to which, she casually mentioned that she earns '0.1 lakh" per month. To many, 0.1 lakh translates to Rs 10,000, which aligns perfectly with her subsequent statement. The interview quickly gained traction online, with many people praising the woman's confidence and straightforwardness. Others appreciated her creative way of expressing her earnings. 'Today, according to the economy, people are earning very little. I don't know about others, but I earn well. I earn in Lakhs." When asked about the number, she said, '0.1 Lakh". She earns ₹10,000 but in Lakhs. — ShoneeKapoor (@ShoneeKapoor) June 12, 2025 The clip has garnered thousands of views and shares on social media platforms, with many users appreciating the woman's sense of humour while others made fun of her 'maths". 'I hoped she is kidding, but unfortunately, she believes in lakhs. By her logic, I earn in billions. These women," one user commented. 'She was obviously kidding. Let's encourage girls with a good sense of humour," another user said. 'Haha. She is not wrong. Anyway, I earn billions," the third user said. 'She knows how to play with numbers," another user commented.
India.com
24 minutes ago
- India.com
Bad news for Pakistan, China as India decides to boost IAF firepower with 97 more Tejas MK-1A fighters, deal is worth Rs....
Bad news for Pakistan, China as India decides to boost IAF firepower with 97 more Tejas MK-1A fighters, deal is worth Rs.... Operation Sindoor has proved the prowess of the India Defence Force in front of the world. Now, India is planning to strengthen the IAF even more, advancing the country's self-reliance in defence manufacturing. For this, the Indian Government has approved Rs 67,000 crore deal for the procurement of 97 additional Tejas MK-1A fighter jets in the financial year 2026-27. This contract which is likely to be finalised by the Cabinet Committee on Security (CCS), will strengthen the role of indigenously developed Light Combat Aircraft (LCA) Tejas fighter jet as the backbone of the IAF. As per a report published by Moneycontrol, the deal which is following the 48,000 crore contract which was signed back in February 2021 for 83 Tejas MK-1A jets, will induct a total of 180 fighter jets in the IAF fleet. This will significantly enhance IAF's combat capabilities. It is worth noting that the Tejas MK-1A is manufactured by HAL and is being designed by the Aeronautical Development Agency (ADA, is a modern multirole fighter aircraft which is loaded with modern technology, Active Electronically Scanned Array (AESA) radar, and beyond-visual-range (BVR) missile capabilities. These features of the Tejas makes a perfect replacement of ageing MiG-21, Jaguars.
