Incorporated in 2020, Dhariwalcorp Limited trades in a wide range of waxes, industrial chemicals, and petroleum jelly.
The company processes, purchases, sells, imports, and trades various types of wax, including Paraffin Wax, Micro Wax, Slack Wax, Carnauba Wax, Microcrystalline Waxes, Semi-Refined Paraffin Wax, Yellow Beeswax, Hydrocarbon Wax, montan wax, Polyethylene Wax, Vegetable Wax, Residue Wax, Palm Wax, BN Micro Wax, Hydrogenated Palm Wax, Micro Slack Wax, PE Wax, and Soya Wax.
The company also deals in industrial chemicals such as Rubber Process Oil, Light Liquid Paraffin (LLP), Citric Acid Monohydrate, Refined Glycerin, Bitumen, Stearic Acid, and Petroleum Jelly, including Paraffin Petroleum Jelly and White Petroleum Jelly.
"Dhariwalcorp serves industries such as Plywood and Board, Paper Coating, Crayon Manufacturing, Candle Production, Textiles, Pharmaceuticals, Petroleum Jelly & Cosmetics, Tube & Tire Manufacturing, Match Production, Food Processing, and Adhesive Manufacturing. The company plays a significant role in the supply chain of these sectors, ensuring quality products and timely delivery."
The company operates one processing unit and has warehouses in Jodhpur, Rajasthan, Bhiwandi, Maharashtra, Ahmedabad, Gujarat, and Mundra, Dist. Kachchh, Gujarat.
The company operates in 21 states and 3 Union territories in India for domestic sales. They also export products to Nepal. The revenue from domestic sales for the fiscal years 2024, 2023, and 2022 was ₹226.30 Lakhs, ₹191.93 Lakhs, and ₹158.13 Lakhs, respectively, contributing to 98.91%, 98.97%, and 99.72% of its total revenue from operations for those years.
As of March 31, 2024, the company has seven department employees.
| Purpose | Amount (₹ Cr) |
|---|---|
| Funding Capital Expenditure towards construction of Warehouse | — |
| Funding working capital requirements of the company; | — |
| General corporate purposes | — |
| Metric | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|
| Total Assets | 2,131 | 1,961 | 1,351 |
| Revenue | 23,111 | 19,519 | 15,920 |
| PAT | 451 | 60 | 142 |
| Net Worth | 875 | 251 | 192 |
| Reserves | 217 | 241 | 182 |
| Total Borrowing | 879 | 618 | 571 |
| Category | Sub (x) | Offered | Bid For |
|---|---|---|---|
| QIB | — | 1,102,800 (46%) | — |
| NII / HNI | — | 348,000 (15%) | — |
| Retail (RII) | — | 798,000 (34%) | — |
| Market Maker | — | 123,600 (5%) | — |
| Total | — | 2,372,400 (100%) | — |
* Amount calculated at upper price band (₹106) · ** Total includes all investor categories
- 1 Initiation of Refund 07 Aug 2024
- 2 Credit of Shares to Demat 07 Aug 2024
- Retail allocation is good at 34% of the total offering.
- HNI/NII demand is good at 15%.
- Institutional (QIB) interest is strong at 46%.
- The IPO P/E of 21x reflects a good valuation relative to typical market ranges.
- Pre-issue EPS of ₹7 compares to post-issue EPS of ₹5 after dilution.
This IPO shows moderate investor interest. Review financial details and compare valuation with industry peers before investing.
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