EPACK Durable Limited IPO Message Board (Page 11)

GMP 18
No trades as of now in Rajkot

​@Tejas Pandya Are you applying Nova and Epack ???

​@Jay Vagheshwari Maa Yes..but category not decided yet in both..if I apply here FF I won't be able to apply for Nova..so in dillemma..😊

skipping this....recent financials not impressive, other than that also, valuations are on higher side...and other opportunities are there to apply so skipping it....

I hope QIB applicants gear up and start applying.. Lets hope for best

qib started

Finally, will wait till 2:30pm, will also refer @Heritage Wale suggestions and take final call.

is their any listing gain?in this

EPACK Durable IPO Verdict

Avoid The IPO and buy Post-listing forLong-term and High Risk Takers can Apply for Small Listing Gains

Highlights of the Issue :
Size : 640 cr
Fresh - 400 cr

Objects of the Issue :
1.Funding Working Capital and Capital Expenditure - 230 cr
2.Debt Repayment - 80 cr
3.General Corporate Purposes - 90 cr

Reasonable To Good Anchor Book

M.cap : 2203 cr

Forward Earnings Projections :
FY 23 :
Revenue - 1540 cr
PAT - 32 cr

Before Calculating Forward Earnings Let's see the Industry trends considering its direct Peers , Amber Enterprises and PG Electroplast

H1 FY 24 :
Revenue - 616 cr
PAT - 2.65 cr

So it has commenced a new capacity from December 2023 which is going to be fully available for its peak RAC Season of January to May which is Q4 FY24 and Q1 25 ,
So the industry trend from 202-22 to 2023-24 indicates that Q4 is always a 100% capacity Utilization quarter

So Now let's Find its Q3+Q4 Earnings
Q3 is around 15-17%+20% YoY Growth

Q3 - 340 cr
Q4 - 60% of Full Earnings + 10% YoY Growth =
830 cr
And New Additional 50% capacity whose capacity Utilization will be 80% as per management which comes around 600 cr

So Full Year FY 24 Revenue : 2050 cr
PAT : 2.6% Net margins =
53 cr + A PLI Scheme of 30 cr Approx
So FY 24 PAT At 83 cr

PE FY 24 Forward Earnings : 26.5

The issue after these calculations looks Reasonably Priced

It is not proper to compare it with Amber which is much bigger in size in terms of revenue and PAT with FY 23 Revenue of 7000 cr and PAT of 220 cr as compared to EPACK's 1540 cr & 32 cr respectively. It is only a growing child in comparison (yes, growth can be much quicker).

​@ipo share If we cannot compared with Amber, it will be very difficult to compare 2 companies :) They are both in exact same space and direct competitors. We can compare ratios & percentages

Also Amber PAT was 164 Cr in '23 (PBT was 220 Cr). If you compare as %
Amber '23 PAT - 2.36%
EPACK '23 PAT - 2.06% (lower due to high financing cost, which will improve post IPO by ~0.5%)

All other metrics are very similar
Amber '23 EBITDA - 6.0%
EPACK '23 EBITDA - 6.7%

Amber rev. growth in last 3 years - 51%
EPACK rev. growth in last 3 years - 45%

But EPACK is coming at lower PE (slightly), but much lower EV / EBITDA, EV / Sales etc, hence there's still upside. This is not considering PG Electroplast, another peer (but it has other categories, not just AC)

Is there any issue with yes bank net banking? Not able to login.

Yes still facing it. Hoping they will solve it before 2:30 pm

APPLIED FF in BHNI . It is better to grab the opportunity of low subscription figure where chances of getting allotment is much better then nova

​@Heritage Wale Sir what is your take on this IPO? Please share 🙏🏻

Experts please suggest what to do in flair???....holding it from 420 levels ..

​@Jonsnow  Hold 2 QTR, if no need Fund

bounce back soon

To apply thus ipo I need to sell medi assist...will it be right strategy....please share thoughts

A bird in the hand is better than a bird in the bush.
Medi assist is good business. This one I am not even applying. I don't have limitation of funds.

Thanks

Crow's Red Flags:

1. Very high asking price for a one-dimensional business.
2. The looming threat of AC manufacturers reducing outsource load and building in-house ODM units needs to be taken into account for those going long here.
3. As of day 2, listing gains potential is about 12%, which may stay considering the general euphoria outside the markets and upcoming Republic Day weekend. Though things may not stay stable on 30 January as market seems volatile today.
4. InCred Equities has given an Avoid rating, citing reasons that red flags #1 and #2. Close peer PGEL is trading at 60% of EPACK's PE.

Thank you, everyone. Your constant support enlightens me even though all that I provide is basic information and try to assess just fundamentals. Keep crowing.

​@Crow Thank you, keep crowing 👍

23-26

Lackluster after 1000 pts hammer
No excitement anywhere for epack & nova too

Will take my own call tomorrow to apply or not .

Refound to 27-29
Frequently trading
Lets see how it behave after 11 am .

Perfect gmp @MAMU...if possible keep posting as and when you Get chance...
and share your view...to guide Retail investor 🙏🙏🙏

What to do if amount is not unblocked post 7 days of allotment date. I had applied with UPI through phonepe and bank is union bank of India.
Any help is appreciated.

​@kalki 
Mail to the Ragistrar and also contact your branch.
​@Value picker Don't go on words, he/she is saying that the amount not refunded.
My IPO amount thru UPI in Australian Premium Solar was also got refund after 5 days, when I mailed to Ragistrar 4 times. In my case also, the bank was u
Union Bank of India.

Dear Mail to asba@unionbankofindia.bank. They will release fund immediately.

No point to go FF here , Risk takers can try with few Retail lots to Try luck for minimal listing gains .. AVOID RECOMMENDATION

The Verdict for this IPO is
Invest Post-listing for Long-term
And Medium risk takers can Apply for Small Listing Gains

Detailed Analysis will be posted

​@newgen consultancy - Between Epak and Nova Agro I believe Nova is better. Can you share your views

​@newgen consultancy Awaiting your detailed analysis......

Difficult to take decision here after market shaken 500 pts

Decided for only one lot applications of 2 to keep the funds ready for Nova Agritech and SME IPOs

Saturday: Kaam
Sunday: Aaram
Monday: Ram
Tuesday: Dhadam
😜🤦🏻‍♂️😁

Who knows ...

Wednesday: Viram
Thursday: Udaan
Friday: Samvidhaan

Latest gmp.
Appky Or not

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