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For the last three fiscals, it has given average performance. A sudden spurt in Q1 bottom line raises concern. Based on this super earnings issue is fully priced. Considering all there, there is no harm in giving this issue a miss.

The company has started its manufacturing business in the year 2017, and accordingly increase in revenue can be seen in the books. Considering the company's overall financials company has performed good in context of the business and issue price.

Company's revenue in the FY 17-18 stood at 1900 lacs which is more than 300% growth, than in FY 19-20 also there is growth of 19%, in context to this and set up expenses company has shown good net profit on 3% in the FY 18-19 and as in stated Future projections by the company this margin shall increase to 7-8% by next year.

As after setup of the manufacturing facility company has already procured many resources which might not need further small investments. Further, from 1st April 2019 company has increased its own fabric sale which has higher profitability.

The issue is priced fairly considering the book value of shares.

This IPO can be subscribed for long term holding only.