Apex Frozen Foods Ltd IPO Message Board (Page 33)

Dear Eagleye Madam,

Kindly give your view on Apex Frozen Food IPO. Septaji is also on leave so your comment will be highly appreciated.

Financials:
Revenue/Net profits -
Rs. 514.57 cr. / Rs. 13.42 cr. (FY14)
Rs. 604.37 cr. / Rs. 18.36 cr. (FY15)
Rs. 608.27 cr. / Rs. 19.28 cr. (FY16)
Rs. 709.68 cr. / Rs. 24.41 cr. (FY17).
Growth is available.
It has posted average EPS of Rs. 9.04 and RoNW of 26.62% for last three years.
P/ E = 23, P/BV = 4.4.

Risks:
100% revenue from export. No presence in domestic market.
75% percent from United States and 25% percent from European Union.
No big client.

I think risk is not a big issue. If we see the IT companies, their more than 80% revenues are coming from export. This is not a big issue.

Issue size is small. It will list in ''T'' group. Some restrictions are available for fir first 10 days of listing.

Market condition is good. I suggest apply. Listing gain is available. In mid to long term it will reward more. Though it is small issue. You will find huge subscription in all categories. Allotment is tough.

Kumud Joshi

Here is complete calculation..

EPS = Net Profit / No.of outstanding shares

Outstanding share for Apex = 24000000
Outstanding share post Issue = 31250000
Net profit = 24.40 crore

EPS post issue = 7.80
EPS of Apex as of now = 10.17

Good analysis ,much better than some so called expert coming up with negative review because of non-vegetarian thing. Especially if you consider they are moving to frozen shrimp export which high profit margin territory so potential to grow is big and market values potential growth more than verbal assualts. I could just laugh at people recommending overvalued SIS from mkt instead of this ipo. I am subscribing on day 1.

How many asba application Yes bank supports?

9. Uchit Patel Jul 9, 2017 10:01:26 AM IST Reply
Au Financiers (India) Limited IPO

AU - if it list at 450 - 500 range then this is very good price. 475 is very good price. I will exit at this price. It will available at lower price in future. I don''''t see nothing fancy in company. Compare to peers 450 to 500 looks costly to me. 400 to 425 is a right price. Because of the market condition it may give good listing gain but in future it may settle at 400-425 range.


Uchit review

AU looks costly to me. I have sold my allotment on listing day. Made new position in equitas.

Noida-based contract manufacturer Dixon plans Rs 700-crore IPO in September

Contract manufacturer Dixon Technologies plans to hit the capital markets in the first week of September for raising nearly Rs 700 crore through a public offer, which will make the Noida-based company the first Indian mobile phone producer to be listed since the launch of the ‘Make in India’ programme.

The company, which makes consumer electronics, home appliances, washing machines, mobile phones and lighting products for a number of brands including Panasonic, Phillips, Intex and and Gionee, will channel the funds towards setting up a new plant for LED televisions and LED bulbs at Tirupati, paying off debt and getting into new businesses.

“We will get into backward integration for LED televisions with capacity of 1million a year, and LED lighting with capacity of 5 million a month including tubelights at the Tirupati plant, which will be used for exports,” said Sunil Vachani, chairman and managing director, Dixon. “With the new plant, we will be the third largest manufacturers of LED bulbs globally with capacity of 10 million a month,” he added. Dixon will also enter into security systems, cameras, recorders and digital video recorders.

Tirupati will be the company’s seventh plant after three facilities each in Noida in Uttar Pradesh and Dehradun in Uttarakhand. The company, which got an approval from the Securities Exchange Board of India (Sebi) earlier this month, will raise fresh equity of Rs 60 crore through the offer.

Proceeds from the sale will go to paying off half its outstanding debt of Rs 45 crore, as per the draft prospectus filed last month. Post the offer, retail investors will hold about 40% of the company.

IDFC Bank, IIFL Holdings, Motilal Oswal Investment Advisors and Yes Securities are book running lead managers to the issue.

80 rs premium will reached....

In terms of valuations, the IPO price band of INR171 – 175 per share and the Earnings Per Share (EPS) of INR10.17 translate into the P/E range of 16.8 – 17.2. This is quite reasonable considering the fact that its peer group trades at much higher multiples. The big daddy of aquaculture Avanti Feeds trades at a P/E ratio of 31.7 while The Waterbase Limited and Zeal Aqua Limited trade at 28.5 and 100.2, respectively. Apex Frozen Foods has a lower Return on Net Worth (RONW) of 25.22% compared to 36.71% of Avanti Feeds’ but is comfortably ahead of its smaller competitors. As on 31 March 2017, Apex Frozen Foods’ total debt/equity ratio was 1.14 times which is slightly above comfortable levels but not back-breaking. Considering these factors, it is clear that the Apex Frozen Foods is priced very attractively.

How did you calculate the EPS?

Kumud Joshi

EPS = Net Profit / No.of outstanding shares

Outstanding share for Apex = 24000000
Outstanding share post Issue = 31250000

You can calculate now....

As per the Restated Standalone Financial Statements, the Company’s total revenues have grown from Rs 2,55.483 Crores in Fiscal 2013 to Rs 6,08.266 crores in Fiscal 2016, at a CAGR of 33.53 %, and the Company’s profit after tax, as restated, has increased from Rs 9.415 Crores in Fiscal 2013 to Rs 19.280 Crores in Fiscal 2016, at a CAGR of 26.99 %. Further, as per the Restated Standalone Financial Statements, the Company’s total revenues for the nine
months ended December 31, 2016, was Rs 5,41.173 Crores and the Company’s profit after tax, as restated, was Rs.16.370 Crores.As on 31 December 2016, the paid up Equity capital was Rs. 24 crore.
Earnings per Shares Basic & diluted
for 2015-16 : Rs. 8.03
& for 9 months ended on 31.December 2016 :Rs.6.82
Book Value of the Share:Nine Months ended December 31, 2016 Rs. 38.18
Peer Group Comparison :
Avanti Feeds ltd Turnover Rs. 2018.29 Crores & commands PE Multiple of 19.75
The Waterbase ltd: Turnover Rs. 318.63 Crores & commands PE Multiple of 496.11
Zeal Aqua limited: Turnover Rs. 121.28 crores & commands PE Multiple of 49
Apex Foods ltd : Turnover Rs. 608.27 crores & the Share at upper price band is offered at PE Multiple of 21.79 9 based on 2015-16 Earnings.

Chem Cho, Really Appreciate your positive efforts for bringing things up

Sir what your recommendation.
APPLY Or Not?
please be clear.

Price Band offered       171-175      
EPS       10.17      
ASKING P/E       17.20747296      
NAV       40.32      
RONW       25.22      
Giving it Industrial P/E 407.8848
Giving it lowest Peer P/E 248.148
P/BV industry              310.3296
lowest P/BV             150.7968
Based on final div 1 on 10% Yield      10
Average of High Value            242.7381333
Average of low value            136.3149333
Giving RONW to Fair Value(high)            303.9566906
Giving RONW to Fair Value(low)            170.6935595
Average of Low and High            237.325125
Applying MOS 25%            177.9938438
This is priced on fair value only but huge risks are there in prawn business as only a single infection will make all farm useless !

Also, Business in not Diversified. There is a Risk but individual needs to decide when to enter and when to exit. Sometimes, we are not getting chance to exit also.

above is just a copy of Gamble''s one of Method ! its fair pried right, But One should aware of risks associated with shrimps business. Initial investment is the only thing it needed as seed or baby fishes, after that running costs are very minimal. But in the even due to some environmental issues or some diseases, The entire farm need to be disposed and the farm shall keep with necessary preventive methods for avoiding re occurrence of such tragedies. It can burn the investors deep down the ground. Avanti feeds is not comparable. Its like comparing advanced enzymes to Sun pharma !

APEX FROZEN IPO GMP INCHING FURTHER 20-25

Frozen shrimps help seafood exports reach all time high in 2016-17-

Burgeoning export of home-grown shrimps have boosted seafood exports to its highest ever extent in 2016-17.
Official figures released by the Marine Products Exports Development Authority (MPEDA) on Wednesday showed seafood exports reaching a record high of 11,34,948 million tonnes as well as earning a record $5.78 billion mainly due to rapid growth in frozen shrimp and fish shipments.

Frozen shrimp of the Vannamei variety maintained its position as the top exported item, accounting for more than 64 per cent of the total earnings. Shrimp exports increased by more than 20 per cent in spite of growing opposition US based shrimp farmers who have argued Indian exporters are dumping produce in the US market.
The US and South East Asia continued to be major importers while demand from the EU grew substantially. The US imported 1,88,617 million tonnes of Indian seafood, accounting for 29.98 per cent in terms of dollar.

This represents a growth of 22.72 per cent annually. South East Asia remained the second largest destination with a share of 29.91 per cent in dollar terms followed by the EU (17.98 per cent), Japan (6.83 per cent), the Middle East (4.78 per cent) and China (3.50 per cent).

Frozen Fish was the second largest export item, accounting for more than 11 per cent in dollar earnings and registering a growth of 26.92 per cent in value terms. Frozen squid came next recording a growth of 21.50 per cent. Earnings from export of frozen cuttlefish also rose by 16.95 per cent.

Someone can help me I have applied for ipo Cochin shipyard from bank Of Baroda asba and shares has not been alloted but still my amount is Lein so where to contact bank is telling they can''t help me please advise?

Dear Chennai !!

Should I apply this IPO or not?

This is the most reliable list of IPOs IN THE PIPELINE (Status as on 11th August 2017)


A) DRHP Filed – SEBI Approval Awaited:

1) Aster DM Healthcare >>> DRHP date 09-Aug-17
2) The New India Assurance Co. >>> DRHP date 08-Aug-17
3) General Insurance Corp. of India >>> DRHP date 07-Aug-17
4) Mahindra Logistics >>> DRHP date 03-Aug-17
5) Godrej Agrovet >>> DRHP date 18-Jul-17
6) SBI Life Insurance Co. >>> DRHP date 17-Jul-17
7) ICICI Lombard General Ins. Co. >>> DRHP date 14-Jul-17
8) Khadim India >>> DRHP date 30-Jun-17
9) Astron Paper & Board Mill >>> DRHP date 20-Jun-17
10) Indian Energy Exchange >>> DRHP date 16-Jun-17
11) National Stock Exchange of India >>> DRHP date 28-Dec-16


B) SEBI Approval Received (within the past 3 months):

1) Prataap Snacks >>> DRHP date 21-Jun-17 (Reapplied)
2) Dixon Technologies (India) >>> DRHP date 19-May-17
3) Shalby Hospitals >>> DRHP date 19-May-17
4) Matrimony.com >>> DRHP date 05-May-17
5) Capacit’e Infraprojects >>> DRHP date 17-Apr-17
6) Nakshatra World >>> DRHP date 08-Mar-17
7) MAS Financial Services >>> DRHP date 24-Mar-17
8) Bharat Road Network >>> DRHP date 20-Feb-17


C) SEBI Approval Received (more than 6 months ago):

9) Genesis Colors >>> DRHP date 28-Sep-16
10) GR Infraprojects >>> DRHP date 29-Sep-16
11) Continental Warehousing Corp. >>> DRHP date 30-Sep-16


If any Company’s name does not appear in the above list ... it means ... that the Company is yet to file its DRHP with SEBI for approval ... or else you may presume that the IPO is cancelled

Draft Red Herring Prospectus = DRHP

Egaleye ji...any help me about Dixon... please waiting for reply..

Happy Independence Day to all Chittorgarh Admin and members. In this context, apart from just sharing wishes, I would like all members to think and take an oath to implement few practices in benefit of our country and environment, our own Health and Wealth.
Request Admin to consider this post in view of our Independence day though it is Irrelevant here.

1. Avoid Chinese products as far as possible. China inspite of making millions of revenue by dumping cheap and low quality products into countries like India is supporting terrorist countries like Pakistan, Nuclear power countries like North Korea which are disturbing peace in entire world. Does it make any sense to buy cheap chinese products and crackers and sponsoring China with our hard earned money and damaging our own health and peace in the Continent??

2. Avoid Crackers for upcoming Diwali festival which use harmful chemicals to environment and ourselves. we completely avoided Crackers from almost 15 years and celebrate Diwali with Diyas and distribute sweets to our neighbours in our Apartment where ever we stay. Chemicals used in Crackers cause enormous air pollution causing Bronchitis, Asthma particularly to our Kids and elders in our Home and we can see almost more than 50% of houses having Nebulizers for treating Asthma etc. Those who dont want to leave this tradition can go to their native villages where there is lot of greenery which can absorb these cracker fumes and have less pollution than Cities. Air in City is miserably polluted by Diesel Vehicles and Industries. Please dont elevate this pollution further with Crackers. Please go thru below link or you can google to find correlation between Diesel pollution and Cancer.
http://www.healthcuretips.com/harmful-effects-of-bursting-crackers/
https://www.cancer.org/cancer/cancer-causes/diesel-exhaust-and-cancer.html

FYI, DIESEL SMOKE IS CANCER CAUSING AND WE HEAR MANY CANCER CASES TO PEOPLE WHO DONT HAVE ANY DRINKING OR SMOKING HABITS. of course, there are many causes of cancer like Smoking or passive smoking, Alcohol etc etc.

3. Avoid plastic carry bags, polythene covers as far as possible. I know we cant avoid plastic completely. But we can carry our own bag while going for shopping for Vegetables/Groceries etc. I personally keep 4-5 different size covers in my Bike & Car to avoid taking new carry bags. These plastic carry bags clog drainages if disposed carelessly, when burnt in dump yard emits poisonous Cancer causing chemicals and reach us again in the form of polluted air.

and the list goes on.. Use you due diligence w.r.t Mother Earth and our Environment. Thanks for your valuable time in reading till end of the message :-)

What You Give Is What You Get.
Save Water, Save Power, Reduce, Reuse and Recycle Plastic.

Your 100% correct I agree and follow the same

Also add some more points as follows . . .

1) Do not kill animals on the name of Kurbani

2) Do not fire the crackers on New year Eve and other occasions also.

3) Be vegetarian

4) Buy vegetables from road side vendors instead of malls as it is bread and butter for
road side vendors

There are many more we can do for our society . . .

Requesting all the boarders to highlight whatever has been missed out . . .

Thanks

LABHesh

Excellent IPO margins can only increase from here on.In the same line of business suppliers of shrimp which is processed and exported by them.

APEX FROZEN IPO LATEST GMP 22-24

This ipo is good guys atleast sis se tho achha he. Me tho 5 lot apply karuga.

Apply or Avoid ?

What is latest GMP??