Doms Industries Ltd Share Price – NSE  /  BSE

Printing & Stationery, Small Cap

DOMS Industries has ventured into the manufacturing and retailing of bags, including school bags, pouches, and related items, to fortify its presence in the back-to-school market.

The Board of Directors of DOMS approved the acquisition of a 51% stake in SKIDO Industries (SKIDO) with an initial investment of Rs 51 lakh, leaving the remaining ownership with the Sehgals. The Sehgal Family, backed by extensive experience, will oversee the day-to-day operations of SKIDO under DOMS' strategic direction.

Following this acquisition, SKIDO will operate as an independent entity, helmed by the co-founders, the Sehgal family, led by Pranay Sehgal.

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Net profit of Doms Industries rose 46.32% to Rs 37.34 crore in the quarter ended December 2023 as against Rs 25.52 crore during the previous quarter ended December 2022. Sales rose 22.35% to Rs 371.61 crore in the quarter ended December 2023 as against Rs 303.73 crore during the previous quarter ended December 2022.

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Doms Industries will hold a meeting of the Board of Directors of the Company on 9 February 2024.

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The scrip was listed at Rs 1,400, exhibiting a premium of 77.22% to the issue price.

So far, the stock has hit a high of 1,416.50 and a low of 1,354.70. On the BSE, over 4.02 lakh shares of the company were traded in the counter so far.

The initial public offer (IPO) of DOMS Industries was subscribed 93.52 times. The issue opened for bidding on 13 December 2023 and it closed on 15 December 2023. The price band of the IPO was fixed at Rs 750-790 per share.

The offer comprises fresh issue of up to Rs 350 crore and an offer for sale of up to Rs 850 crore.

The company proposed to utilize the net proceeds from the fresh issue towards part financing the cost of establishing a new manufacturing facility to expand its production capabilities for a wide range of writing instruments, water colour pens, markers and highlighters amounting Rs 280 crore and the balance towards general corporate purposes.

Doms Industries designs, develops, manufactures, and sells a wide range of stationery and art products, primarily under its flagship brand DOMS, in the domestic market as well as in over 45 countries internationally, as of September 30, 2023. The company has a wide and differentiated product category, which includes over 3,800 SKUs and is spread across scholastic stationery, scholastic art material, paper stationery, kits and combos, office supplies, hobby and craft and fine art products.

The company has an exclusive tie-up with certain entities of the FILA Group for the distribution and marketing of their products in South Asia.

The firm reported a net profit of Rs 70.63 crore and total income of Rs 761.80 crore for the six months ended on 30 September 2023.

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