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Home»IPO Analysis»Azad Engineering Limited | IPO Analysis
IPO Analysis

Azad Engineering Limited | IPO Analysis

Vicky NagarBy Vicky Nagar24 December 2023Updated:24 December 2023No Comments3 Mins Read
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About the company:

Established in 1983, Azad Engineering Limited is a leading manufacturer specializing in aerospace components and turbines. Over nearly four decades, it has become a key supplier to Original Equipment Manufacturers (OEMs) in aerospace, defense, energy, and oil and gas industries.

Product Excellence:

Azad Engineering is known for its highly engineered products crucial to various applications, particularly in turbines and aerospace components. The company excels in meeting stringent client requirements.

Manufacturing Facilities:

With four facilities in Hyderabad, India, covering 20,000 square meters, Azad Engineering focuses on high-precision forged and machined components. Plans for two additional units in Telangana are underway to expand operations strategically.

IPO Objectives:

  1. Fund Capital Expenditure: Supporting strategic investments for company growth.
  2. Repay/Prepay Borrowings: Strengthening financial position by settling certain borrowings.
  3. General Corporate Purposes: Enhancing overall operational capabilities.

Promoter Holding:

The promoter of the company is Rakesh Chopda.

Share Holding Pre Issue78.61%
Share Holding Post Issue56.38%

Summary of Financial Information:

Period Ended 30-Sep-23 31-Mar-23 31-Mar-22 31-Mar-21
Assets 636.63 589.21 404.32 256.05
Revenue 169.54 261.52 199.26 125.03
Profit After Tax 26.89 8.47 29.46 11.5
Reserves and Surplus 221.14 202.51 118.88 89.42
Total Borrowing 324.94 300.6 197.18 87.71
Amount in Rs. Crore

Key Performance Indicators:

KPI Values
P/E (x) 292.74
Post P/E (x) 57.58
Market Cap (Rs. Cr.) 3097.52
ROE 4.20%
ROCE 12.99%
Debt/Equity 1.47
EPS (Rs) 1.79
RoNW 4.23%
Azad Engineering IPO Market Cap is Rs 3097.52 Cr and P/E (x) is 292.74.

Comparison with peers:

Company Name P/E P/B RoE (%)
Azad Engineering Limited* 292.74 12.38 4.15
MTAR Technologies Ltd 68.9 10.8 17.9
Paras Defence & Space Technologies Ltd 81.6 6.79 9.1
Dynamatic Technologies Ltd 47.8 4.72 9.22
Triveni Turbine Ltd 55.8 14.6 21.5
Financials as on 31st March, 2023

Key IPO Details:

IPO Date December 20, 2023 to December 22, 2023
Listing Date December 28, 2023
Face Value Rs. 2 per share
Price Band Rs. 499 to Rs. 524 per share
Lot Size 28 Shares
Total Issue Size 14,122,138 shares (aggregating up to Rs. 740.00 Cr)
Fresh Issue 4,580,153 shares (aggregating up to Rs. 240.00 Cr)
Offer for Sale 9,541,985 shares of Rs. 2 (aggregating up to Rs. 500.00 Cr)
GMP Rs. 440 (83.97%) [Only for education purpose]
As of 20th December, 2023

Note: For additional information & risk factors please refer to the Red Herring Prospectus

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Disclaimer: We are not SEBI registered. All the views are personal and only for educational purposes. Do your due diligence before making any trading or investing decisions. The data provided in this blog post is for illustrative purposes only and does not constitute financial advice. Always consult with a qualified financial advisor before making investment decisions.

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Vicky Nagar
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Vicky Nagar is an equity trader with 5+ years of experience in trading and investing. He has expertise in equity valuation, sectoral analysis, index analysis, and in identifying the market trends. He is a NISM Certified Research Analyst. Formerly a relationship manager at Kotak Mahindra Bank Limited in the Agri-Business Group, he also has teaching experience at KS School of Business Management, Gujarat University, and as an Academic Associate at IRMA (Institute of Rural Management Anand). He holds a BBA (Gold Medalist) and an MBA (Gold Medalist) in Marketing.

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