Ecosure Pulpmolding Technologies Limited.(ESTD-2019)
Ecosure Pulpmolding Technologies Limited.(ESTD-2019)
INE0K3N01021
Listing Status: DRHP Not Filed
About Ecosure Pulpmolding Technologies Limited.(ESTD-2019)
Overview of Ecosure Pulpmolding Technologies Limited.(ESTD-2019)
Incorporated in 2019, in Noida, Ecosure Pulp Molding is a leading designer and manufacturer of molded fiber manufacturing systems, working on the China+1 theme, where the machines are manufactured 100% in India.
● Ecosure operates via 3 operational plants and is involved in the manufacturing of 100% made in India
Semi-automatic pulp molding machines & molds and
Fully automatic pulp molding machines & molds
● Ecosure offers turnkey solutions to replace single-use plastics with environmentally friendly, compostable chemical-free, fiber-pulp molded products.
● Ecosure offers an integrated set of solutions from installation to AMC.
Manufacturing Facilities
Ecosure operates three facilities in Noida, Indore, and Sitarganj with a combined production capacity of 25-30 machines per month.
- Noida: Focuses on manufacturing semi-automatic machinery.
- Indore: Specializes in fully-automatic machinery and is set to transform into a world-class molded fiber factory.
- Sitarganj:
Produces semi-automatic machinery and tableware.
Additionally, Ecosure has acquired land in the Dhar district, Madhya Pradesh, for establishing an R&D plant.
Operational Achievements
- Total Machines Delivered: 350
- Current Service Locations: 39
- Order Book Value: ₹105 crores, to be delivered by FY25.
- Revenue Target: Scaling production capacity to achieve ₹200 crores revenue by FY25.
Market Leadership
Ecosure holds a 90% market share in the pulp molding machinery segment, capitalizing on its early mover advantage in a market with limited competition. Strong product acceptance is driven by long-term contracts and high reliability.
Customer Base
Domestic Market: Accounts for 92% of FY24 revenue, with major clients including:
· Satia Industries (India’s largest wood and agro-based paper plant)
· Greenco Industries (Satna, MP)
· Godavari Biorefineries Ltd (Karnataka)
· Simplex Green Package (Chennai)
· Oom Pulp Products LLP (Punjab)
Export Market: 8% of FY24 revenue, with clients like COPAR (Australia) ordering 10 fully-automatic thermoforming machines.
Raw Material Advantage
Ecosure sources 100% of its raw materials from within India, ensuring cost efficiency and uninterrupted production—especially as competitors face global supply chain constraints.
Expansion Strategy:
● The net proceeds from the IPO shall be utilized in capex to increase production capacity, aiding in achieving and bolstering the top line from ₹150 Cr in FY25 to ₹250 Cr by the end of FY26, with a bottom line ranging from ₹15 Cr to ₹30 Cr.
● Theraised funds are planned to be directed towards further investment in capex to expand production capacity by establishing a state-of-the-art greenfield R&D facility in Dhar district, Madhya Pradesh as well as developing the manufacturing facility in Noida, addressing the escalating demand, and fulfilling the order book value (primarily for fulfilling the export orders).
Innovative Projects
Ecosure is collaborating with the UP Government and CLRI on a Vegan Leather Project, utilizing Nanocrystalline cellulose and Feng Tai from rice straw, further emphasizing its focus on innovative and sustainable solutions.
Insights of Ecosure Pulpmolding Technologies Limited.(ESTD-2019)
Financial Highlights of Ecosure:
- The company has demonstrated significant growth across all financial metrics, with PAT increasing over 7 times and EBITDA improving over 5 times compared to FY 2023.
- The EPS and Book Value per Share have shown substantial increases, reflecting improved profitability and shareholder equity. Book Value/Share: Increased significantly by 504.48%, reflecting a robust enhancement in shareholder equity.
Financial Ratios
- Net Profit Ratio: Increased from 0.02 to 0.16, indicating the company has significantly improved its ability to convert revenue into profit after covering all expenses. This reflects enhanced efficiency in managing costs and operations.
- Return on Capital Employed (ROCE): Improved from 0.30 to 0.74, showing that the company is utilizing its capital more effectively to generate higher pre-tax profits. This growth highlights efficient management of resources and better returns for investors.
- Earnings Per Share: Surged from 141.97 to 1165.25, indicating remarkable growth in shareholder value and profitability.
As of March 31, 2024, the company has demonstrated significant growth and is projecting to achieve net revenue of approximately ₹110 crore in FY 2025, nearly double the revenue of FY 2024. Additionally, the company has undertaken various corporate actions during the year and is actively expanding its operations into the export sector, signaling a strategic focus on scaling and diversifying its business.
Domestic Vs Export Revenue:
Ecosure Business Overview:
- India’s 1st indigenously built fiber pulp molding machine manufacturing company for the World.
- 1st company to introduce one stop turnkey projects in industry
- 1st company to grow from a turnover of INR 1 crore to 50 crores within 4 financial years
- 1st Company to introduce made in India 1st fully automatic thermoforming machine
Ecosure Valued Clients:
Financial Highlights
● Ecosure has achieved a remarkable top-line growth of 74% 2-year CAGR (between FY22-FY24) i.e. from ₹16.7 crores in FY23 to ₹50.6 crores in FY24. The company has further strengthened its revenue owing to expansion in sales in overseas markets.
● The company’s net profit margin (NPM) is 11.6% which has grown by over 291%, 2-year CAGR(between FY22-FY24), from ₹0.4 crores in FY22 to ₹5.8 crores in FY24. ● Ecosure’s financial health is underscored by an average ROCE of 57.9% and ROE of 85.6% over the past 3 years (FY22-FY24).
● Company’s Cash Conversion Cycle (CCC) has improved considerably year-on-year (y-o-y) from 152 days in FY22 to 76 days in FY24. More importantly, the company doesn’t seem to face any problems concerning its debtors. The company usually gets a 10% payment in advance and subsequently receives 15-20% after completion of each stage.
Investment Thesis:
● Pre-money IPO Valuation: The company is planning to file the DRHP using March’25 numbers, where the P/E stands at 15x (a target PAT of ₹15 crores), which is undervalued as compared to its competitors that stand at a P/E multiple of 67.1x.
● Sustainable Margins: The company has been profitable since inception and consistently works on managing the working capital efficiently and delivering stable margins. In Q1FY25, the company has already achieved a PAT of ₹3.8 Cr. The projected numbers for PAT in FY25 are expected to be near ₹15 Cr. witnessing a y-o-y growth of approximately ~ 150%.
● Capitalizing upon Demand Drivers: As mentioned above, the packaging industry in India is estimated to be close to US$ 84.37 Bn and is expected to reach US$140 Bn by 2032. The company has been an early mover in replacing plastic packaging in not only the foodpackaging industry but also the medical packaging industry, and it now plans to foray into the electronics packaging industry.
Financial Charts of Ecosure Pulpmolding Technologies Limited.(ESTD-2019)
Balance Sheet of Ecosure Pulpmolding Technologies Limited.(ESTD-2019)
Profit and Loss of Ecosure Pulpmolding Technologies Limited.(ESTD-2019)
Ancillary of Ecosure Pulpmolding Technologies Limited.(ESTD-2019)
Ratio Analysis
Peers
Industry Benchmarking
Segment Revenue
Subsidaries
Security Allotment
Corporate Governance
Team Management Details
FAQs of Ecosure Pulpmolding Technologies Limited.(ESTD-2019)
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How to buy Ecosure Pulpmolding Technologies Limited.(ESTD-2019)?
Below are three ways through which you can purchase Ecosure Pulpmolding Technologies Limited.(ESTD-2019):
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How to sell Ecosure Pulpmolding Technologies Limited.(ESTD-2019)?
Below are three ways through which you can sell Ecosure Pulpmolding Technologies Limited.(ESTD-2019):
- We at Altius Investech have many actively traded scripts and are market makers of unlisted shares. To check out all the unlisted shares traded. (Click on link). To submit a request to sell Ecosure Pulpmolding Technologies Limited.(ESTD-2019), please click on the trade button at the top of this page
- Additionally, you can download our app from your play store or app store, register on our application, and engage in active trading there.
Download the Altius App here https://onelink.to/hf4m72 - You can also reach out to us at : +91 8240614850 / +91 8240861716
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What is the price of Ecosure Pulpmolding Technologies Limited.(ESTD-2019)?
We provide a two way quote on all the shares we deal in. Your buy price for Ecosure Pulpmolding Technologies Limited.(ESTD-2019) is ₹57 and your sell price for Ecosure Pulpmolding Technologies Limited.(ESTD-2019) is ₹46. The price is based on our estimates and market conditions.
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What is the lock-in period of Ecosure Pulpmolding Technologies Limited.(ESTD-2019)?
The lock-in period for Ecosure Pulpmolding Technologies Limited.(ESTD-2019) varies depending on the category of investors:
- For retail Investors, HNIs, or Body Corporates, the lock-in period is 6 months from the date of the listing of Ecosure Pulpmolding Technologies Limited.(ESTD-2019)
- For Venture Capital Funds or Foreign Venture Capital Investors, there is a lock-in period of 6 months from the date of acquisition of Ecosure Pulpmolding Technologies Limited.(ESTD-2019)
- For AIF-II (Alternative Investment Funds - Category II), there is no lock-in period
August 2021 saw the introduction of this regulation by SEBI. The purpose of the regulation change, which lowered the lock-in period from a year to six months, was to incentivize additional investments in firms getting ready for initial public offerings, or IPOs. Since its introduction, a number of Portfolio Management Services (PMS) have advised their clients to purchase Pre-IPO shares in order to take advantage of the advantages associated with early-stage investments. This reduction in the lock-in period is considered as a significant step forward.
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How is the Ecosure Pulpmolding Technologies Limited.(ESTD-2019) price calculated?
Fundamental & Comparative valuation models and the forces of demand and supply in the market for unlisted shares dictate the price. These prices are based on our estimates and transaction history of Ecosure Pulpmolding Technologies Limited.(ESTD-2019). The price is also determined from the most recent funding round for Ecosure Pulpmolding Technologies Limited.(ESTD-2019). This provides us with a benchmark valuation, offering a clear indication of the company's current market value as perceived by investors and industry experts.
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What are the lot sizes of Ecosure Pulpmolding Technologies Limited.(ESTD-2019)?
We can generally arrange lot sizes starting with an investment of INR 20,000. To confirm the lot sizes of Ecosure Pulpmolding Technologies Limited.(ESTD-2019) with us kindly click here.
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What are the financials of Ecosure Pulpmolding Technologies Limited.(ESTD-2019)?
The financials of Ecosure Pulpmolding Technologies Limited.(ESTD-2019) which includes the P/L of Ecosure Pulpmolding Technologies Limited.(ESTD-2019) and the Balance Sheet of Ecosure Pulpmolding Technologies Limited.(ESTD-2019) is in the financials section (Click on link).
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Where can I find the annual report of Ecosure Pulpmolding Technologies Limited.(ESTD-2019)?
The annual report of Ecosure Pulpmolding Technologies Limited.(ESTD-2019) is available in the annual report section (Click on link).
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Is buying Ecosure Pulpmolding Technologies Limited.(ESTD-2019) legal in India?
Yes, buying and selling unlisted shares in India is indeed 100% legal. This activity is regulated and governed under the guidelines provided by the Securities and Exchange Board of India (SEBI). Investors and traders must adhere to these regulations and guidelines to ensure compliance with legal and financial standards. It's important for participants in the unlisted share market to be aware of and understand these regulations to engage in transactions legally and securely.
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Short-term Capital Gain taxes to be paid on Ecosure Pulpmolding Technologies Limited.(ESTD-2019)?
When you sell unlisted shares within a period of two years from the date of acquisition, any profit earned from the sale is classified as Short-term Capital Gain (STCG). This gain is then added to your total income for that financial year. The tax on this short-term capital gain is calculated based on your applicable individual income tax slab rates. Therefore, the rate at which you will pay tax on the STCG from unlisted shares depends on your total income, including this gain, and the tax slab it falls under as per the prevailing income tax laws in India. It's important for investors to consider these tax implications when engaging in transactions involving unlisted shares.
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Long-term Capital Gain taxes to be paid on Ecosure Pulpmolding Technologies Limited.(ESTD-2019) and how are They Taxed?
Long-term Capital Gains (LTCG) on unlisted shares in India refer to the profits earned from the sale of unlisted shares that have been held for more than two years. The key aspects of LTCG on unlisted shares include:
- Tax Rate: LTCG on unlisted shares is taxed at a rate of 20%.
- Indexation Benefit: This is a significant advantage for investors. Indexation allows for adjusting the purchase price of the shares for inflation, which can reduce the taxable gain.
- Importance for Investors: Understanding LTCG is crucial, especially for High Net-worth Individuals (HNIs) and retail investors, as it impacts their investment strategy and tax planning. Knowing these details helps in making informed investment decisions.
- Calculation: LTCG is calculated by subtracting the indexed cost of acquisition (the purchase price adjusted for inflation) from the sale price of the shares. The profit thus calculated is subject to a 20% tax.
- Applicability: LTCG tax is applicable to profits from the sale of unlisted shares held for more than two years.
- Relevance: This tax is particularly relevant to investors in the unlisted share market, including those considering selling their holdings after a period of more than two years.
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Applicability of Taxes on Ecosure Pulpmolding Technologies Limited.(ESTD-2019) once it is listed?
When shares initially bought in the unlisted market become listed, the taxation rules change significantly if these shares are sold through a stock exchange. Here's what investors need to know:
Transition to Listed Market Tax Rates: Once unlisted shares are listed on the stock exchange and subsequently sold, the tax rates applicable to listed securities come into effect. This shift means that the favourable tax treatments for listed shares, as per the prevailing tax laws, will apply.
Taxation Based on Holding Period: The crucial factor in determining the type of capital gains tax (Long-term or Short-term) is the holding period of the shares. Importantly, this period is calculated from the original purchase date when the shares were unlisted.
Long-term vs. Short-term Capital Gains: If the shares are sold after being held for more than one year from the date of purchase (including the period when they were unlisted), they are subject to Long-term Capital Gains (LTCG) tax.
Conversely, if sold within one-year, Short-term Capital Gains (STCG) tax rates apply.
Significance for Investors: This information is vital for investors in the unlisted market, as it impacts their tax planning and decision-making process. Understanding these nuances ensures that investors can strategically plan the sale of their shares post-listing to optimize tax implications.
Advice for Investors: It's advisable for investors to keep a record of their purchase dates and monitor the listing dates closely. Additionally, staying updated with the latest tax regulations or consulting with a financial advisor is recommended for accurate tax calculations and compliance. -
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At Altius Investech, our approach to sourcing Boat Unlisted Share (Imagine Marketing) involves a strategic and direct method. Primarily, we acquire these shares from the below key groups:
Employees of the Company: Employee stock option plans (ESOPs) or other compensation packages frequently include shares for firm employees. For a various reasons, such as including portfolio diversification or financial considerations, some of these employees may eventually choose to sell their shares. We engage with these employees, providing them a platform to sell their shares.
Initial Investors: These are the angel or early-stage investors who provided capital to the business in its early stages. These original investors may look to sell all or part of their ownership position in the company as it develops and flourishes. This might be done for various reasons such as in order to maximise their investment, reallocate resources, or make other calculated financial decisions.
Funding rounds and VC funds: Altius Investech sources the shares from private placement rounds in which private companies seek to obtain capital from the market. Through our platform, venture capital funds can liquidate their shares and we receive the inventory from them when they decide to sell a portion of their ownership through block trades.
By establishing connections with these groups, Altius Investech guarantees our clients a steady and dependable supply of Boat Unlisted Share (Imagine Marketing). This process not only makes it easier for employees and initial investors in liquidating their assets, but it also gives our clients access to shares that aren't often found on the open market. Our platform effectively facilitates a win-win situation for both buyers and sellers. -
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