GG Engineering Ltd IPO (GG Engineering IPO) Detail

Guys have patience pls
Allotment shall come today late evening or tomorrow morning.
till then take rest...........

GMP

Cochin 158 - 160

SIS 57 - 60

GMP

Cochin 143 - 145
SIS 80 - 85

good new, Salasar will be list on 25th July 2017 @ 348/- + 5% upper circuit

Wht is listing date

Pros:
DE is decent (~0.35)
Book seems to be fine (PB of 1.9)
Cons:
PE of 285!! LOL.
ROE and ROCE is worse (even negative for some FY)
Operating cash-flow is negative every alternate year
Rise in raw-material cost every year (resulting in increasing sales but stagnant net-profit)
Workforce of the company is reduced (by 10%) in FY16

In long-term, the company will perform very well.
But, at the issue price of 20, the IPO is over-priced.
So, its a clear AVOID (however one can buy in secondary market after the correction post-listing).

Key operating ratios

Year end      Mar 16      Mar 15      Mar 14      Mar 13      Mar 12
EPS(Rs)      0.44      0.05      -      0.03      2.90
Book value(Rs)      10.49      10.05      10.00      10.06      10.03
CEPS(Rs)      0.75      0.88      0.59      0.05      4.20
NPM(%)      2.13      0.48      -0.47      50.00      13.68
OPM(%)      7.54      20.29      15.02      50.00      24.76
ROCE(%)      7.32      4.12      3.64      0.39      39.30
ROE(%)      3.50      0.33      -0.39      0.50      28.86
Debt/equity      0.35      0.26      0.41      0.27      -
Interest cover      1.63      1.14      1.08      -      11.29

Cash flow analysis (Rs.in Crs.)
Year end      Mar 16      Mar 15      Mar 14      Mar 13      Mar 12
NOPAT      0.32      0.08      -0.13      0.01      0.64
Operating cash flow      -0.45      0.49      -0.55      0.21      1.15
Free cash flow      -0.45      0.49      -0.33      3.18      1.15

Key financials (Rs.in Crs.)
Year end      Mar 16      Mar 15      Mar 14      Mar 13      Mar 12
Net sales      5.17      2.07      2.13      0.02      4.24
Operating profit      0.42      0.42      0.32      0.01      1.05
Net profit      0.14      0.01      -0.01      0.01      0.58
Equity cap pd      3.06      3.06      3.06      2.00      2.00

Half Yearly
Year      201603      201503      Var(%)
Type      Full Year      Full Year
Sales Turnover      5.17      2.07      149.76
Other Income      0.03      0.00      N.A.
Total Income      5.20      2.07      151.21
Total Expenditure      4.78      1.65      189.70
Operating Profit      0.42      0.42      0.00
Interest      0.19      0.14      35.71
Gross Profit      0.23      0.28      -17.86
Depreciation      0.09      0.26      -65.38
Tax      0.02      0.03      -33.33
Reported PAT      0.14      0.01      1,300.00
Dividend (%)      0.00      0.00      N.A.

Quarterly
Year      201612      201603      201503      Var(%)
Type      3rd Qtr3.00      Full Year      Full Year
Sales Turnover      5.90      5.17      2.07      149.76
Other Income      0.09      0.03      0.00      N.A.
Total Income      5.99      5.20      2.07      151.21
Total Expenditure      5.75      4.78      1.65      189.70
Operating Profit      0.24      0.42      0.42      0.00
Interest      0.15      0.19      0.14      35.71
Gross Profit      0.09      0.23      0.28      -17.86
Depreciation      0.07      0.09      0.26      -65.38
Tax      0.01      0.02      0.03      -33.33
Reported PAT      0.02      0.14      0.01      1,300.00

P & L Account (Rs.in Crs.)

Year      Mar 16      Mar 15      Mar 14      Mar 13      Mar 12
Sales Turnover      5.17      2.07      2.13      0.02      4.24
Other Income      0.03      0.00      0.00      0.03      1.62
Stock Adjustments      0.95      0.50      0.00      0.00      -0.16
Total Income      6.15      2.57      2.13      0.05      5.70
Raw Materials      4.52      1.48      1.40      0.00      2.57
Excise Duty      0.00      0.00      0.00      0.00      0.00
Power & Fuel Cost      0.00      0.00      0.00      0.00      0.00
Other Manufacturing Expenses      0.00      0.00      0.00      0.00      0.00
Employee Cost      0.56      0.62      0.18      0.00      0.54
Selling and Administration Expenses      0.00      0.00      0.00      0.00      0.00
Miscellaneous Expenses      0.65      0.04      0.22      0.05      1.54
Less: Preoperative Expenditure Capitalised      0.00      0.00      0.00      0.00      0.00
Profit before Interest, Depreciation & Tax      0.42      0.42      0.32      0.01      1.05
Interest & Financial Charges      0.19      0.14      0.12      0.00      0.07
Profit before Depreciation & Tax      0.23      0.28      0.20      0.01      0.98
Depreciation      0.09      0.26      0.19      0.00      0.26
Profit Before Tax      0.15      0.02      0.01      0.01      0.72
Tax      0.01      0.01      0.02      0.00      0.14
Profit After Tax      0.14      0.01      -0.01      0.01      0.58
Adjustment below Net Profit      0.00      0.00      0.00      0.00      0.00
P & L Balance brought forward      0.01      0.00      0.01      0.01      -0.57
Appropriations      0.00      0.00      0.00      0.00      0.00
P & L Bal. carried down      0.15      0.01      0.00      0.01      0.01
Equity Dividend      0.00      0.00      0.00      0.00      0.00
Preference Dividend      0.00      0.00      0.00      0.00      0.00
Corporate Dividend Tax      0.00      0.00      0.00      0.00      0.00
Equity Dividend (%)      0.00      0.00      0.00      0.00      0.00
Earning Per Share (Rs.)      0.44      0.05      0.00      0.03      2.90
Book Value      10.49      10.05      10.00      10.06      10.03
Extraordinary Items      0.03      0.00      0.00      0.00      0.00

Balance Sheet(Rs.in Crs.)

Year      Mar 16      Mar 15      Mar 14      Mar 13      Mar 12
Share Capital      3.06      3.06      3.06      2.00      2.00
Reserves & Surplus      0.15      0.02      0.00      0.01      0.01
Total Shareholders Funds      3.21      3.08      3.06      2.01      2.01
Secured Loans      1.53      0.65      0.92      0.76      0.00
Unsecured Loans      0.00      0.00      0.05      0.35      0.00
Total Debt      1.53      0.65      0.97      1.11      0.00
Total Liabilities      4.74      3.73      4.03      3.12      2.01
Gross Block      2.06      2.61      3.00      2.97      0.00
Less: Accum. Depreciation      0.00      0.00      0.00      0.00      0.00
Net Block      2.06      2.61      3.00      2.97      0.00
Capital Work in Progress      0.00      0.00      0.00      0.00      0.00
Investments      0.01      0.01      0.01      0.01      0.00
Inventories      1.83      0.85      0.58      0.04      0.00
Sundry Debtors      0.58      0.75      1.30      0.00      0.66
Cash and Bank Balance      0.14      0.04      0.04      0.09      1.52
Loans and Advances      1.09      0.47      0.31      0.24      0.47
Current Liabilities      0.96      0.97      1.21      0.22      0.44
Provisions      0.02      0.03      0.00      0.00      0.19
Net Current Assets      2.66      1.11      1.02      0.15      2.02
Miscellaneous Expenses not w/o      0.00      0.00      0.00      0.00      0.00
Total Assets      4.73      3.73      4.03      3.13      2.02
Contingent Liabilities      0.00      0.00      0.00      0.00      0.00

Capital History:
Year      Equity Capital       Remarks
201704      3.0723        further allotment
201612      3.0603        further allotment
201311      3.06        further allotment
201003      2        further allotment
200806      1.4745        further allotment
200601      0.01        Subscriber to MOA

asdasd

🏗 Pushpanjali Realms & Infratech Ltd IPO (Pushpanjali Realms IPO) Detail 🏢

🌅 Dehradun based real-estate developer, Pushpanjali Realms and Infratech is entering the capital market with its initial public offering. The issue, which will open on June 27, 2017 and will close on June 30, 2017.Pushpanjali Realms proposes to raise Rs 14.55 crores through the issue of 26,46,000 shares of face value of Rs. 10/- each for cash at a price of Rs. 55/- per equity share. The equity shares are proposed to be listed on the Emerge Platform of National Stock Exchange of India Limited (NSE). Sarthi Capital Advisors Pvt Ltd is the sole Lead Manager for the issue.

👤 Deepak Mittal, aged 40 years, is company''s promoter and managing director. Mittal has more than 11 years in hospitality and real estate Industry.

🏘 Pushpanjali enjoys a sizeable and diverse portfolio of projects in Dehradun, Uttarakhand, where it plans to execute residential flats in range of 1BHK, 2BHK, 3 BHK and 4 BHK for customers across all income groups and spread in all over the city. Strategic locations of its projects in high economic growth areas strengthen the stability of its revenues streams and enhances its ability to close financing arrangements for its projects.

🏢🏡🏢Currently, the company has two ongoing projects in Dehradun, one is “Eminent Heights” with total area of 64,800 sq ft and second is “Orchid Park” with total land area of 2,02,500 sq ft. Both these projects have got all required clearances and are likely to be monetised over the next 12 to 18 months.
Pushpanjali has built a strong established brand name in a short-time with a good execution track record

🎢Pushpanjali enjoys a strong financial track record. In the last four years between FY14 to FY17, the company has consistently improved its financial performance IN FY-14, it started with a small revenue base of Rs 1.16 crore which has multiplied over 18x to touch Rs 18.48 crs in December 31, 2016. Likewise, EBIDTA from operations has also grown significantly from Rs 0.03 crs in FY14 to touch Rs 1.35 crore in in December 31, 2016. WHile net profit has grown from a small base from Rs 0.02 crs in FY14 to Rs 1.18 crs in December 31, 2016.

🛣All these improved operational metrics have got reflected in better return ratios of 19% ROCE and 20% ROE for the company as on FY17.

🤠Avinash Goraksakar research head at Joindre Capital says, ''We believe that once the proposed IPO is completed the company’s capital structure will further get a boost with the overall leverage reducing and more equity funds being used for working capital and project financing purposes. Overall we expect the operational return ratios like ROCE and ROE to improve further by FY19 on the back of confirmed visibility of the company’s existing projects which would also clearly reflect in a significant higher Topline and bottomline ahead over the next two years.''

🏘The ‘Affordable Housing for All’ is a critical policy agenda for the present Narendar Modi government. Building of 1.6 million homes was sanctioned in FY14 with a value of Rs. 41,723 crore. Approximately 11 crore houses is estimated to be required by 2022 of which 70% will be in the affordable segment. The potential investment required in this space is US$250 billion per annum as per a KPMG report thus implying a huge opportunity for HFCs focused on LMI segment.

🌉Also, the ‘100 Smart Cities’ government initiative is aimed at reshaping the urban landscape by making cities more affordable and livable. Each city selected under the scheme would be granted Rs. 100cr/year for five years.This presents a huge opportunity for the housing segment and especially for players like Pushpanjali which have positioned themselves very strongly in this segment.

When you see Navigant....all you need to do is Ignore it....Navigant is so bad that even if they were the lead managers for Google...Google will list in discount

PLZ Suggest any SME ipo
who ipo Will subscribe

Navigant own share is trading at 60% discount to its IPO price and all the IPO''s handled by Navigant are trading far below its IPO price.

GG Engineering has poor fundamentals and highly overpriced.
Clear Avoid.