Business Profile of Silver Consumer Electricals Limited
Silver Consumer Electricals Limited was incorporated in 2021 and engaged in the business of manufacturing electrical consumer durables and agricultural equipment. The products range includes manufacturing of fans, lighting products, solar-powered pumps and controllers and agricultural equipment. The company operates dual business model first is manufacturing and selling under its own name brands “Bediya” and “Silver”. Another is manufacturing, designing and supplying products to original equipment manufacturers (OEMs) in India. Currently company operates its functions in Rajkot, Gujarat facility and its majority operations are concentrated in western region of India (78% of total domestic revenue).
Objective of Silver Consumer Electricals IPO
As per the draft red hearing prospects, the IPO issue consists fresh issue and offer for sale. The fresh issue consists of XXXX shares at the face value of ₨ 2.00 each aggregating up to ₹ 10,000.00 millions and OFS consists XXXX shares at face value of ₨ 2.00 each aggregating up to ₨ 4,000.00 millions. There are fresh shares issues and OFS by company and main objective of company is repayment of outstanding borrowing of company& general expenses.
Details of Silver Consumer Electricals IPO
| IPO Open Date | N.A. |
| IPO Close Date | N.A. |
| Basis of Allotment | N.A. |
| Listing Date | N.A. |
| Face Value | ₹2.00 per share |
| Price | N.A. |
| Lot Size | N.A. |
| Total Issue Size | Up to XXXX shares |
| Aggregating up to ₨ 14,000.00million | |
| Fresh Issue | Up to XXXX Equity Shares |
| Aggregating up to ₨ 10,000.00 million | |
| Offer For Sale | Up to XXXX Equity Shares |
| Aggregating up to ₨ 4,000.00 million | |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE & NSE |
| QIB Shares Offered | Not more than 50% of the Net Issue |
| Retail Shares Offered | Not more than 35% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15% of the Net Issue |
Silver Consumer Electricals IPO: Issue Price & Size
The issue price of SILVER CONSUMER ELECTRICALS LIMITED hasn’t been released yet. Upon releasing the dates, the investors can bid between those price ranges. The company has fresh issue and OFS aggregating up to ₹ 14,000.00 million at the price of ₨XXXX.
Launch Date of Silver Consumer Electricals IPO
The IPO opening date of SILVER CONSUMER ELECTRICALS LIMITED hasn’t been officially announced yet, upon the declaration of dates investor can bid for IPO.
Financial Statements of Silver Consumer Electricals Limited
| S.No. | Particulars | Mar 31 , 2025 | Mar 31 , 2024 | Mar 31 , 2023 |
| I | Revenue | |||
| Revenue from Operations | 15,863.83 | 8,789.27 | 4,164.83 | |
| Other Income | 257.43 | 147.33 | 44.91 | |
| Total Income | 16,121.26 | 8.936.60 | 4,209.74 | |
| II | Expenses | |||
| Cost of Materials Consumed | 13,039.18 | 6,809.11 | 3,384.52 | |
| Changes in Inventories | -1,565.20 | -561.67 | -520.09 | |
| Employee Benefit Expenses | 1,312.68 | 716.73 | 365.48 | |
| Depreciation and Amortization Expenses | 275.43 | 135.71 | 57.19 | |
| Finance Costs | 710.91 | 361.17 | 146.33 | |
| Other Expenses | 1,719.49 | 1,090.76 | 512.69 | |
| Total Expenses | 15,492.49 | 8,551.80 | 3,946.12 | |
| III | Profit Before Tax and Exceptional Items ( I – II ) | 628.78 | 384.8 | 263.61 |
| IV | Exceptional Items | 3.35 | – | -5.56 |
| V | Profit Before Tax ( III + IV ) | 632.13 | 384.8 | 258.06 |
| VI | Tax Expense | |||
| Current Tax | 90 | 86 | 51 | |
| Adjustment of income tax relating to earlier years | – | – | 1.23 | |
| Deferred Tax Charge / ( Credit ) | 65.19 | 16.4 | 8.7 | |
| Total Tax Expense | 155.19 | 102.4 | 60.92 | |
| VII | Profit for the Year ( V – VI ) | 476.94 | 282.39 | 197.13 |
Key financial ratios of Silver Consumer Electricals Limited
| Key Performance Indicators | Units | Mar 31 , 2025 | Mar 31 , 2024 | Mar 31 , 2023 |
| Revenue from Operations | * million | 15,863.83 | 8,789.27 | 4,164.83 |
| PAT | million | 476.94 | 282.39 | 197.13 |
| Revenue from Operations Growth (YoY) | % | 80.49% | 111.04% | NA |
| Gross Profit | million | 4,389.85 | 2,541.83 | 1,300.40 |
| Gross Margin | % | 27.67% | 28.92% | 31.22% |
| EBITDA | million | 1,615.11 | 881.67 | 467.14 |
| EBITDA Margin | % | 10.02% | 9.87% | 11.10% |
| PAT Margin | % | 2.96% | 3.16% | 4.68% |
| Return on Equity | % | 10.15% | 14.01% | 25.30% |
| Return on Capital Employed | % | 11.69% | 13.13% | 19.40% |
| Net Working Capital Days | in days | 104 | 96 | 94 |
| Gross Asset Turnover Ratio | Times | 3.19 | 2.94 | 3.65 |
Promoters & Shareholding Silver Consumer Electricals IPO
As of date, according to the DRHP filed with SEBI promoters and promoter group have 23.83% shareholding in company.
| Name | Number of Equity Shares | % Equity Shares |
| Promoters | ||
| Vinit Dharamshibhai Bediya | 13,85,86,065 | 13.52 |
| Vidhi Vinit Bediya | – | – |
| Members of Promoter Group | ||
| Dharamshibhai Mohanbhai Bediya | 2,22,32,100 | 7.86 |
| Total ( A ) | 16,08,18,165 | 56.85 |
| Public(B) | 12,20,66,225 | 43.15 |
| Total (A+B) | 28,28,84,390 | 100 |
Should You Subscribe To Silver Consumer Electricals IPO
While investing or subscribing to any IPO, consider the investment rationales related to the company. Hence, here you can find out the strength of the company that will be its growth factors. And also check the risk factors that can affect the growth and operational efficiency of the company.
Competitive Strengths of Silver Consumer Electricals IPO
Fastest growing electrical company
The company is fastest -growing manufacturer of electrical consumer durables and agricultural equipment in India in aspect of revenue from operations with a CAGR of 95.17% between fiscal 2023 to 2024. The operations of company are facilitated by advanced manufacturing capabilities, including automated systems and in-house testing facilities. Operations efficiency of company helps in launch products to market faster with meeting customers’ requirements.
Diversified business model
The company has diversified revenue contribution from various product categories which help them to avoid multiple business risks. Currently company focused on both OEM & own brand products and dual-track approach includes both own brand and OEM sales, catering to different customer segments and reducing dependency on any single revenue stream. It help in developed a diversified business model with an aim to mitigate operational risks.
Advanced research and development capabilities
Silver Consumer Electricals ltd. operates five R&D units in Rajkot, Gujarat and each of R&D units is dedicated to a specific business vertical. Key areas of exploration include additive manufacturing, energy-efficient systems, and precision engineering, with an emphasis on reliability and reducing environmental impact. The R&D efforts focus on innovation across product features, manufacturing efficiency, and sustainability to meet the evolving needs of original equipment manufacturer customers.
Expansive distribution network
The company has witnessed significant growth in its distribution capabilities, with the number of distributors and dealers rising from 3,752 as of March 31, 2023 to 5,718 as of March 31, 2025. They have focused expansive ‘Feet on Street’ distribution network designed to ensure efficient product availability and customer reach across India. It further supported by dedicated sales force that actively engages with customers and distributors, ensuring timely delivery and personalized service.
Risk Factors of Silver Consumer Electricals IPO
Key customers risk
The company dependent on and derive a significant portion of revenue from certain key customers. The loss of relationship with any of these customers or delays or reductions in their orders may have an adverse effect on company business, results of operations and financial condition. Currently, top 10 customers accounted for 66.94%, 65.63% and 72.00% of our revenue from operations in Fiscals 2025, 2024 and 2023, respectively. If any of these customers become insolvent or unable to pay for supplied products, it could impact business from recovering production costs and materials.
Region concentration
The reliance of company on Western region of India is 78.01%, 69.42%, and 86.62% of its revenue from operations for fiscals 2025, 2024 and 2023, respectively. This dependency on western region is mainly due to head offices of majority of OEM customers are in the Western region of India, through which transactions are undertaken and the goods are delivered to other regions. Any decrease in revenues from sales in the Western region of India, including due to increased competition or supply, or reduction in demand, may have an adverse effect on business, results of operations and financial condition.
Raw materials cost
The production of company is depended on obtaining regular supplies of input components on a timely basis. The company obtains the raw materials for its business from local suppliers as well from overseas suppliers. For example, raw materials like cast iron, copper, as steel, stamping, and aluminum wires from local suppliers and magnets, seals and insulation papers from suppliers primarily located in China. Any rises in the prices of raw materials may adversely affect company business.
Large working capital need
The working capital requirement of company is in large amount to continued operation and growth. As at March 31, 2025, March 31, 2024 and March 31, 2023, company had total outstanding working capital loans aggregating to ₹ 3,961.04 million, ₹ 2,238.54 million and ₹ 665.94 million, respectively. This is required for large-scale production and rapid commercialization of products. Any inability to meet working capital requirements could have an adverse effect on business, results of operations and financial condition.
Silver Consumer Electricals IPO Grey Market Premium
Grey market premium is the premium quoted over the IPO issue price. GMP shows that investors are ready to pay above the upper band of the IPO issue price. GMP is determined in the grey market as per the demand and supply of the shares in the primary market. A grey market is that unofficial ecosystem of unlisted companies’ stocks that start trading even before the launch of the IPO to the date of its listing.
Also Read: What is Grey Market Premium in IPO: How is GMP Calculated & Reliable
However, GMP is not a reliable factor, as it keeps fluctuating as per the demand and supply of shares in the primary market. There are numerous factors that affect the stock market in India and individual stock prices of different companies that are already listed and trading in the secondary market. However, for an IPO-bounded company, you can consider the GMP as the speculative listing price of the share
According to various online sources, the Grey Market Premium or GMP of the Silver Consumer Electricals Limited is trading around Rs XX in the grey market. It means shares are trading at the upper band issue price of Rs XX with a premium in the grey market and may list around the same price
