Sah Polymers IPO

Sah Polymers is primarily engaged in manufacturing and selling of Polypropylene (PP)/ High Density Polyethylene (HDPE) FIBC Bags, Woven Sacks, HDPE/PP woven fabrics, woven polymer based products of different weight, sizes and colours as per customers specifications.

The company offers customised bulk packaging solutions to B2B manufacturers catering to different industries such as Agro Pesticides, drugmakers, cement, chemicals, fertilizers, food products, textile, ceramic Industry, and steel. The key products manufactured by the company are as follows: FIBC (Flexible intermediate bulk container), Container bags, Garden bags/Wastage bags, Woven sacks, PP Fabric, Ground covers used in agriculture and horticulture industry, Spiral tubing used in packaging industry, Box bags and PP Woven Fabric Rolls.

Besides, the company is a Del Credere Associate cum Consignment Stockist (DCA/ CS) of Indian Oil Corporation Limited and also operates as Dealer Operated Polymer Warehouse (DOPW) of Indian Oil Corporation Limited for their polymer division. The company also entered into arrangements as third-party manufacturers to produce tape and fabric based on customer requirements.

Currently, Sah Polymers has one manufacturing facility with installed production capacity of 3960 MTPA located at Udaipur in Rajasthan. The company plans to use part of their net proceeds from fresh issue of shares to establish a new facility with an additional installed capacity of 3960 MTPA to manufacture different variants of FIBC products.

Sah Polymers have two business divisions — domestic sales and exports. The company has presence in five states and one union territory for their domestic market. The company exports their products to 14 countries such as Algeria, Togo, Ghana, Poland, Portugal, France, Italy,Dominican Republic, USA, Australia,UAE, Palestine, UK and Ireland.

For fiscal year 2022, 2021 and 2020, its revenue from exports stood at Rs 4439.39 lakhs, Rs 2752.39 lakhs, and Rs 2491.88 lakhs. The exports contributed 55.14%, 49.98% and 50.75%, respectively, of their revenue from operations.