September 21, 2011 - September 23, 2011

RDB Rasayans IPO Review & Recommendations

Dilip Davda and MLR Securities Private Ltd recommend to "Avoid" the IPO.

RDB Rasayans IPO Review Summary from brokers and analysts

Review By	Apply	May Apply	Neutral	Avoid	Not Rated
Count	0	0	0	2	0
%	0.00	0.00	0.00	100.00	0.00

RDB Rasayans IPO Analysis By Brokers/Analysts

Reviewer	Recommendation	Past Reviews
Dilip Davda	Avoid
MLR Securities Private Ltd	Avoid

RDB Rasayans IPO Review by Dilip Davda (Avoid)

[Dilip Davda]

On the performance front, the company has posted an average EPS of Rs. 2.51. For the year 2010-11 it posted a net profit of Rs. 1.80 crore on a turnover of Rs. 46.13 crore against net profit of Rs. 1.95 crore on a turnover of Rs. 30.61 crore for 2008-09 indicating at reduced margings. On enhanced equity of Rs. 17.72 crore, this earnings translated into an EPS of Rs.1.01 and based on this the asking price is around 72 P/E on the lower price band and thus it is priced exorbitantly. AVOID investment.

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