Varroc Engineering Limited IPO review

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On 26th June 2018, Varroc Engineering Limited IPO will be open for subscription. The following content piece highlights the reviews and recommendations on Varroc Engineering IPO by market experts.

 

Varroc Engineering IPO Reviews by Experts

Reviews by

Reviewer Category

Recommendations

GEPL Capital

Company

NA

Mehta Equities

Company

NA

Dilip Davde

Individual

Subscribe for long term

Capital Market

Company

May subscribe

(45/100)

ICICI Direct

Company

NA

HDFC

Company

NA

Centrum Broking

Company

Can subscribe

Angel Broking

Company

Neutral

Choice Broking

Company

Subscribe with Caution

Company Profile:

Varroc Engineering Limited was established in the year 1988. It is an automotive component group company among global tier-1 that directly supplies components to original equipment manufacturers (OEM). Besides this it also implements designing, manufacturing and supplying of polymer and plastics components, engine components, electronic - electrical components, precision metallic components and exterior lighting systems to traveler’s car, business vehicle, two-wheeler, three-wheeler and off highway vehicle (OHV) to OEMs universally.

Issue Detail:

Following are the IPO Key details of RITES Limited IPO:
-       The IPO opens on 26 June 2018
-       The IPO closes on  28 June
-       Price Band: Rs 965 - Rs 967 Per Equity Share
-       Issue Size : Rs 1,945.77 Cr
-       No. of Shares on Offer: 20,121,730 Equity Shares
-       Bid Lot:15 Shares
-       Face Value : Rs 1 Per Equity Share

Objects of Varrac Engineering Limited IPO:  The objectives of Varrac Engineering Limited IPO are:
-      To leverage the benefits of listing on Stock Exchanges.
-      To carry out offer to sale by existing share holders.
-      General corporate expenses.

Varroc Engineering: Consolidated Financials

 

1303(12)

1403(12)

1503(12)

1603(12)

1703(12)

1803(12)

Net Sales

4210.24

6116.35

6769.99

7909.22

9298.79

10278.83

OPM (%)

6.0%

6.5%

9.1%

7.2%

6.3%

8.5%

OP

252.03

399.49

616.88

570.94

581.75

877.57

Other in.

15.05

23.02

87.69

20.62

93.73

38.61

PBDIT

267.08

422.51

704.57

591.56

675.48

916.18

Interest

83.73

100.30

475.48

-42.65

90.40

86.17

PBDT

183.35

322.22

229.09

634.22

585.08

830.01

Dep.

179.00

238.00

253.97

292.25

337.08

386.47

PBT

4.35

84.22

-24.88

341.97

248.00

443.54

EO

0.00

0.00

51.75

0.00

0.00

0.00

PBT after EO

4.35

84.22

26.87

341.97

248.00

443.54

Tax (including Deferred Tax)

30.49

41.31

46.54

21.97

23.80

61.79

PAT

-26.14

42.90

-19.67

320.00

224.20

381.75

Share of Associates

0.00

0.00

36.48

49.83

79.19

69.03

MI

-0.68

0.86

3.85

0.46

0.38

0.52

PAT after MI and share of Associates

-25.46

42.04

12.96

369.37

303.01

450.26

EPS (Rs)*

-

3.1

1.0

27.4

22.5

33.4

*EPS is on post issue equity capital of Rs 13.48 crore of face value of Rs 1 each

& Financials for FY 13 and FY 14 are as per IGAAP while rest of the financials are as per New Ind AS

Figures in crore
Source: Capitaline Databases

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