December 18, 2023 - December 20, 2023

Sahara Maritime IPO Review & Recommendations

Dilip Davda recommend to "Avoid" the IPO.

Sahara Maritime 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

Sahara Maritime IPO Analysis By Brokers/Analysts

Reviewer	Recommendation	Past Reviews
Dilip Davda	Avoid

Sahara Maritime IPO Review by Dilip Davda (Avoid)

[Dilip Davda] The company has posted lackluster performance with drastic fall in net profit for H1-FY24. Based on annualized FY24 earnings the issue is priced exorbitantly. The tiny equity capital post listing indicates longer gestation for migration to mainboard. There is no harm in skipping this costly bet. Read detail review...

Sahara Maritime IPO Peer Comparison

Sahara Maritime 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 (%)	Closing price as on period ended	P/BV Ratio	Financial statements
Sahara Maritime Limited	5.44	5.44	23.84	15.03	22.76	81.00	3.40	Standalone
Cargotrans Maritime Limited	5.74		31.14	13.81	0.05			Consolidated
AVG Logistics Limited	7.09		76.23	35.55	9.29			Consolidated
Cargosol Logistics Limited	4.79		26.26	10.43	15.70			Consolidated
Amiable Logistics India Limited	8.63		39.42	8.93	15.70			Consolidated
Timescan Logistics (India) Limited	10.65		47.48	14.59	22.44			Consolidated

Notes:

The figures (standalone) for Sahara Maritime Limited is based on Restated Financial Statements for the year ended March 31, 2023, after taking effect of the Bonus Shares allotted on February 10, 2023.
The figures (Consolidated) for Peer Group are based on the Annual Reports filed for the financial year ended March 31, 2023.
P/E Ratio of Peer Group has been computed based on the closing market price on August 31, 2023, as divided by the Basic EPS as on March 31, 2023.
The Issue Price determined by our Company in consultation with the Lead Manager is justified by our Company in consultation with the Lead Manager on the basis of the above parameters.

Sahara Maritime IPO Review by Members

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

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Sahara Maritime 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 Listing Gain at Cut-off Price Parameter Score (0-5) Promotors/Sr. Management & Work Ethics 4 Company Financials 2 Segment Growth Opportunity 3 Asking Valuation (compared with Peers) 3 Lead Manager's past performance 3 Consolidated Score 3.1 December 15, 2023 3:32:41 PM
Rajeshalc	Avoid Very high valuation . Tiny profit December 17, 2023 4:29:07 PM

Member

Review

SMEmitra

Apply for Listing Gain at Cut-off Price

Parameter      Score (0-5)
Promotors/Sr. Management & Work Ethics      4
Company Financials      2
Segment Growth Opportunity      3
Asking Valuation (compared with Peers)      3
Lead Manager's past performance      3
Consolidated Score      3.1

December 15, 2023 3:32:41 PM

Rajeshalc

Avoid

Very high valuation . Tiny profit

December 17, 2023 4:29:07 PM

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