June 24, 2024 - June 26, 2024

Visaman Global Sales IPO Review & Recommendations

Dilip Davda recommend to "Avoid" the IPO.

Visaman Global Sales IPO Review Summary from brokers and analysts

Review By	Apply	May Apply	Neutral	Avoid	Not Rated
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Visaman Global Sales IPO Analysis By Brokers/Analysts

Reviewer	Recommendation	Past Reviews
Dilip Davda	Avoid

Visaman Global Sales IPO Review by Dilip Davda (Avoid)

[Dilip Davda] The company is in the business of trading in pipes/sheets/coils of various metals. It depends on third party supply. It posted average earnings on growing topline indicating the nature of business as “High Volume – Low margin”. Based on FY24 annualized earnings, the issue appears aggressively priced. It is operating in a highly competitive and fragmented business. There is no harm in skipping this high risk pricey issue. Read detail review...

Visaman Global Sales IPO Peer Comparison

Visaman Global Sales Limited peer comparison with similar listed entities. (As on March 31, 2023)

Company Name	EPS (Basic)	NAV (per share) (Rs)	P/E (x)	RoNW (%)	P/BV Ratio
Visaman Global Sales Limited	1.12	14.20	38.39	11.40	3.03
Shree Marutinandan Tubes Ltd	90.36	137.50	2.54	65.71	1.67
Swastik Pipe Limited	4.53	89.67	16.10	4.35	0.81
Hi-tech Pipes Limited	3.06	32.71	42.78	9.04	4.00

Notes:

The figures for the company are based on Restated Financial Statements for the year ended March 31, 2023, after taking effect of the Bonus Shares allotted on March 22, 2024.
The figures for the Peer Group are based on the Standalone Financial Statements except for Hi-Tech Pipes Limited filed for the financial year ended March 31, 2023.
The P/E Ratio has been computed based on their respective closing market price on June 14, 2024, divided by the Basic EPS as of March 31, 2023.
CMP is the closing price or the last traded price of respective scripts as of June 14, 2024.
Our company, in consultation with the Lead Manager, determined the issue price, which is justified based on the above parameters.

Visaman Global Sales IPO Review by Members

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

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Visaman Global Sales IPO Review Summary by Members

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