The company, Cosmic CRF Limited, was incorporated on December 21, 2021, as a public limited company under the Companies Act, 2013. On January 19, 2022, the company executed a business transfer agreement with Cosmic Ferro Alloys Limited to purchase the CRF unit located in West Bengal, India. The agreement was initially set to close on March 31, 2022, but it was extended to September 15, 2022, through an addendum to the agreement.
Cosmic CRF Limited is a qualified and RDSO (Research Design and Standards Organisation) approved supplier of cold rolled stainless sections to wagon manufacturers such as Titagarh Wagons Limited, Hindusthan Engineering & Industries Limited, Melbrow Engineering Works Private Limited, Jindal Rail Infrastructure Limited, Allied Construction Engineers & Fabricators, and others. They also supply cold-rolled stainless sections to the railways through tender procurement.
As of March 31, 2023, the company’s total order book value is ₹53,640.82 lakhs, with ₹13,566.33 lakhs executed and ₹40,074.48 lakhs ongoing. They have completed 25 orders and have 23 ongoing orders for the supply of cold rolled stainless sections.
Through the acquisition of the CRF unit from Cosmic Ferro Alloys Limited, Cosmic CRF Limited obtained a manufacturing unit spread over approximately 3.8 acres in West Bengal. The unit produces a range of cold-rolled stainless sections, including fabricated items for railway, coach, and wagons, cold-rolled formed items for wagons and coaches, cold-rolled formed items for infra companies and EPC projects, and products for roadways and national highways.
The company’s product portfolio primarily consists of cold-rolled stainless sections tailored to the standardized quality requirements of customers in sectors such as railways and infrastructure. Their products comply with the stringent requirements prescribed by RDSO, as well as additional quality control standards set by customers. Cosmic CRF Limited’s Research and Development division (R&D Division) focuses on developing innovative solutions and customizing products for customers. They conduct necessary trials and tests in their in-house R&D laboratory to meet customer needs and regulatory standards.
Cosmic CRF Limited has a Quality Division responsible for conducting tests on materials and products throughout the manufacturing process. They adhere to domestic and international standards and have received certification for their quality management system (ISO 9001:2015). The company has also successfully qualified the quality audit by Research Designs & Standards Organization for specific manufacturing and supply capabilities.
In terms of financial performance, the company generated revenues of ₹12,148.90 lakhs in the fiscal year 2023. Their EBITDA for the same period amounted to ₹1,214.07 lakhs, and they achieved a profit after tax of ₹641.20 lakhs.
Cosmic CRF Limited IPO Complete Details:
| IPO Date | 14 June 2023 to 16 June 2023 |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE SME |
| Face Value | 10 Rs. Per Share |
| Price | Rs.314 to 330 |
| Lot Size | 400 |
| Issue Size | 1,822,000 shares (Rs. 60.13 Cr) |
| Fresh Issue | 1,822,000 shares (Rs. 60.13 Cr) |
| Listing Date | 26 June 2023 |
Cosmic CRF Limited IPO Timetable:
| Activity | Date* |
|---|---|
| Opening Date | 14 June 2023 |
| Closing Date | 16 June 2023 |
| Allotment | 21 June 2023 |
| Initiation of Refunds | 22 June 2023 |
| Credit of Shares to Demat Account | 23 June 2023 |
| Listing Date | 26 June 2023 |
Company Financial Details:
| Period Ended | Assets | Revenue | Profit After Tax | Net Worth |
|---|---|---|---|---|
| 31 March 2022 | 1,605.02 | -11.80 | 873.10 | |
| 31 March 2023 | 6,875.24 | 12,149.31 | 641.20 | 1,629.40 |
AS OF NOW, the GMP OF Cosmic CRF Limited is Around -01 Rs.