On Door Concepts IPO

On Door Concepts Limited

₹1,24,800 /600 sharesMinimum Investment

On Door Concepts IPO Listing Details

Listed OnIssue PriceListing PriceListing Gains
NSE₹208.00₹214.00₹6.00 (2.88%)

On Door Concepts IPO Details

Bidding DatesMin. InvestmentLot SizePrice Range
23 Oct ‘23 - 27 Oct ‘23₹1,24,800600₹208 - ₹208
Issue SizeIPO Doc
31.18Cr
RHP PDF

About On Door Concepts

On Door Concepts is a regional retailer that offers groceries and essential household items through various channels. They provide both in-store shopping at colony stores and quick home delivery through online orders. Many of their stores fulfill online orders directly from their shelves. Their product offerings are grouped into the following three categories: Foods: This category encompasses staples, groceries, fruits, vegetables, snacks, processed foods, dairy products, frozen items, beverages, and confectionery. Food products contribute significantly to their total sales. Non-Foods (FMCG): This category includes home care products, personal care items, toiletries, and other over-the-counter products. It also makes a substantial contribution to their revenue. General Merchandise: This category features crockery, utensils, plastic goods, pooja items, and more. ;
Parent Organisation
On Door Concepts Limited
Founded
2014
Managing Director
Mr. Narendra Singh Bapna

Strengths & Risks

  • As of March 31, 2023, On Door Concepts operates 55 stores in Madhya Pradesh. Of these, 17 are owned and operated by the company, while the others are run through a franchisee model.
  • The company aims to provide value retailing and a convenient shopping experience to a specific target customer base.
  • Their strategy focuses on reducing operational costs rather than offering temporary promotions on select products or specific timeframes.
  • Most of the items they stock are essentials, not luxury items, making the business less susceptible to seasonality or economic downturns.
  • On Door Concepts prioritizes reasonable prices across all product categories consistently, not just on specific days or times of the year.
  • On Door Concepts, its promoters and directors are involved in legal disputes and potential litigations. Unfavorable outcomes in these cases could expose them to penalties and liabilities, potentially impacting the company's business, financial status, and operational results.
  • In 2022 and 2021, On Door Concepts reported losses of Rs. 536.98 Lakhs and Rs. 523.44 Lakhs, respectively.
  • The company risks losing a significant portion of its customer base if it fails to consistently offer discounted prices in line with its pricing strategy. Additionally, supplier price hikes beyond the company's control during shortages may erode its competitive edge.
  • The inability to secure favorable long-term leasehold agreements or rental arrangements for new store, warehouse, or packing center locations could hinder the company's expansion and growth plans.
  • The success of On Door Concepts depends on the strategic selection and performance of its store locations. In the event of improper store or franchise partner performance, the company may not achieve its expected profitability levels, impacting its business and financial condition.
  • The top 5 suppliers accounted for 33.97%, 28.02%, and 30.91% of total purchases in 2023, 2022, and 2021, respectively. Failure to maximize relationships with existing suppliers or identify new ones could disrupt business operations.
  • Most of On Door Concepts' sales are generated from Madhya Pradesh stores. Any adverse developments affecting operations in this state could negatively impact the company's revenue and operational results. Increased competition in Madhya Pradesh may also reduce the company's market share.
  • The company's information technology systems play a crucial role in its business. Any system interruptions or failure to upgrade to advanced systems in the future could harm business operations and profitability.
  • Negative cash flows have been experienced in the past, and the company is vulnerable to the same in the future. Such cash flow issues could negatively impact the business and future prospects.
  • As of August 31, 2023, On Door Concepts has contingent liabilities in accordance with Ind AS 37. If any of these liabilities materialize, they could adversely affect profitability and significantly impact the company's operational results and financial condition.
  • As of August 31, 2023, On Door Concepts has outstanding unsecured loans amounting to Rs. 87.70 Lakhs that are callable on demand by lenders.
  • The company has not made dividend payments, and its ability to do so in the future will depend on earnings, financial condition, cash flows, working capital needs, capital expenditures, and the constraints imposed by financing agreements.

Financials

*All values are in Rs. Cr
No Graph Data To Display

Application details

Apply asPrice bandApply upto
Regular208 - 208₹2 Lakh
High Networth Individual208 - 208₹2 - 5 Lakh
For On Door Concepts IPO, eligible investors can apply as Regular.
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