Manorama Industries Limited IPO Message Board (Page 2)

Read in DRHP page no 246 to 249 group co litigation ., after read this 4 pages of DRHP take it decision.co asking for @20 PE it's too high majority revenue come from trading business.AVOID AVOID AVOID

Even if books are cooked for last year.
Will definitely buy after it lists and price is reasonable.
Worth to invest for long term.

I don't doubt the revenue or increased profit in last year due to their deal with Body Shop. Body Shop has 3000+ stores all over world and they are really profitable. Also Mango butter is a key product. So, Manoram industries has lot of things going for it.

This company has no direct litigation pending against it but other promoter company has got spate of things pending in court.

If someone can provide clarity on how they could affect this industry that would be good. Business wise this is a must apply. Only question mark is outstanding group promoter litigations..

Shriniwas Sir,
Good observation & Reading.Please keep posting for all the SME IPO so that we can get good knowledge. Surprising how can any L.M can bring issue which is having so much of Litigation's & claims. People should read thoroughly the DRHP before investing in any issue.Only last year before bringing IPO there is sudden jump in profits.
It's a BIG AVOID.

If we are positive for our business, then why we are holding only 35% stake ???
Lead Manager had launched PMS for such SME IPO recently and to do work .........

Rest is your luck !

Sudden spike in Profit raise the concerns
Being such a grand old Co it took IPO year to perform

Post ipo Equity 11.12cr & EPS Post IPO 9.30 Rs per share IPO @180-188 Rs per share it's 20 PE Multiples & raise approx 64cr. Sudden PROFIT JUMP from 2016-17 - 1.38 Cr to 10.36Cr in 2017-18 is approx 10 Times is looks like cooked balance sheet before IPO and out of 221cr Turnover already 162cr trading Turnover and inventories increased 20 Times from 1.90cr to 18cr in 2017-18 .
BIG AVOID .