November 16, 2023 - November 20, 2023

Arrowhead Seperation Engineering IPO Review & Recommendations

Dilip Davda recommend to "Avoid" the IPO.

Arrowhead Seperation Engineering IPO Review Summary from brokers and analysts

Review By	Apply	May Apply	Neutral	Avoid	Not Rated
Count	0	0	0	1	0
%	0.00	0.00	0.00	100.00	0.00

Arrowhead Seperation Engineering IPO Analysis By Brokers/Analysts

Reviewer	Recommendation	Past Reviews
Dilip Davda	Avoid

Arrowhead Seperation Engineering IPO Review by Dilip Davda (Avoid)

[Dilip Davda] Though the company has shown growth in its top and bottom lines for the reported periods, the issue appears aggressively priced based on its super annualized earnings for FY24. The small paid-up equity capital post-IPO indicates longer gestation for migration to mainboard. There is no harm in skipping this pricey bet. Read detail review...

Arrowhead Seperation Engineering IPO Peer Comparison

Arrowhead Seperation Engineering Limited peer comparison with similar listed entities. (As on March 31, 2023)

Company Name	EPS (Basic)	EPS (Diluted)	NAV (per share) (Rs)	P/E (x)	RoNW (%)	Financial statements
Arrowhead Seperation Engineering Limited	12.88	12.88	18.74	18.09	68.75	Standalone
Kilburn Engineering Ltd	8.66	8.66	29.46	26.38	26.76	Standalone
Praj Industries Ltd	13.05	13.05	58.68	17.92	22.09	Standalone

Notes:

(i) The figures of Arrowhead Seperation Engineering Limited are based on restated financial statements for the year ended March 31, 2023.

(ii) The figures for the peer group are based on the Financial Results Summary for the year ended March 31, 2023.

Arrowhead Seperation Engineering IPO Review by Members

Arrowhead Seperation Engineering IPO Reviews, analysis and views by popular members. Read Arrowhead Seperation Engineering Limited IPO reviews by retail investors to find recommended ipo to buy.

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Arrowhead Seperation Engineering IPO Review Summary by Members

Review By	Apply	May Apply	Neutral	Avoid
Count	1	0	0	1
%	50.00	0.00	0.00	50.00

Member	Review
SMEmitra	Apply for Short Term at Cut-off Price Parameter - Score(0-5) Promotors/Sr. Management & Work Ethics - 4 Company Financials - 3 Segment Growth Opportunity - 3 Asking Valuation (compared with Peers) - 3 Lead Manager's past performance - 3 Consolidated Score - 3.2 November 17, 2023 11:33:46 AM
IPO Lover Rjkt	Avoid Balance sheet, PE & Price not fair November 17, 2023 3:06:25 PM

Member

Review

SMEmitra

Apply for Short Term at Cut-off Price

Parameter - Score(0-5)
Promotors/Sr. Management & Work Ethics - 4
Company Financials - 3
Segment Growth Opportunity - 3
Asking Valuation (compared with Peers) - 3
Lead Manager's past performance - 3
Consolidated Score - 3.2

November 17, 2023 11:33:46 AM

IPO Lover Rjkt

Avoid

Balance sheet, PE & Price not fair

November 17, 2023 3:06:25 PM

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