Laxmi Goldorna House Ltd IPO

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(i) This Company is an ISO 9001:2015 certified Company and has started its journey in the year 2010 with business of gold jewellery and ornaments which includes wholesale and retail trading of all types of jewellery items. Also This Company process some of its jewellery through jobwork. With continuous growth in jewellery and ornaments business the Company has diversified its business activity in real estate in the year 2017 which includes construction of commercial and residential Projects.

(ii) The company is promoted by Mr. Jayesh Chinubhai Shah and Mrs. Rupalben Jayeshkumar Shah in the name of Laxmi Goldorna House Private Limited under the provisions of the Companies Act, 1956. The promoters of the Company are Mr. Jayesh Chinubhai Shah and Mrs. Rupalben Jayeshkumar Shah who have experience of about 20 years and 10 years respectively in the field of business activities of the company. The vast experience of the Promoters has been instrumental in determining the vision and growth strategies for their Company. They further believe that their market position has been achieved by adherence to the vision of their Promoters and senior management team and their experience of over a decade in the industry in which the Company operates.

(iii) They operate from their registered office at Laxmi House, Opp. Bandharano Khacho, M.G. Haveli Road, Manek Chowk, Ahmedabad – 380001, Gujarat, India.

Objects of the Laxmi Goldorna House Ltd IPO:

1. To Meet Working Capital Requirement, 2. General Corporate Purpose, 3. To Meet the Issue Expenses.

Laxmi Goldorna House Ltd IPO Details:

Open Date: Mar 20 2020
Close Date: Mar 26 2020
Total Shares: 55,20,000
Face Value: ₹ 10 Per Equity Share
Issue Type: Fixed Issue
Issue Size: 8.28 Cr.
Lot Size: 8000 Shares
Issue Price: ₹ 15 Per Equity Share
Listing At: NSE Emerge
Listing Date: Apr 03 2020

Promoters And Management:

(i) Mr. Jayesh Chinubhai Shah (ii) Mrs. Rupalben Jayeshkumar Shah

Financials of Laxmi Goldorna House Ltd IPO:

(Figures in Lakhs) 1. Revenue, PAT, EPS and ROCE Analysis
Year Revenue EBITDA OPM PAT NPM Shares F.V. EPS CE RoCE
2017 5,242.52 142.66 3% 58.05 1% 6.65 10 8.73 531.51 27%
2018 6,977.25 160.18 2% 44.06 1% 153.52 10 0.29 2,828.11 6%
2019 7,344.97 275.04 4% 66.82 1% 153.52 10 0.44 2,805.27 10%
6M FY20 3,877.66 144.13 4% 40.16 1% 153.52 10 0.26 3,136.58 5%
Post IPO 7755.32 288.26 4% 80.32 1% 208.72 10 2.43 6273.16 5%
2. Debt to Net Worth and Return on Net Worth Analysis
Year Long-Term Debt Short-Term Debt Total Debt NW Debt/NW RoNW
2017 91.2 446.63 537.83 440.07 1.22 13%
2018 613.55 939.86 1553.41 2,214.57 0.70 2%
2019 523.89 1,001.83 1525.72 2,281.39 0.67 3%
6M FY20 815.04 963.3 1778.34 2,321.54 0.77 2%
3. Current Ratio, Receivable Days and Free Cash Flow Analysis
Year CA CL Current Ratio Receivable Days FCO Capital Exp. FCF
2017 1,021.89 497.01 2.06 0 30.46 0 30.46
2018 3,862.30 1,050.90 3.68 38 -2,183.18 11.70 -2194.88
2019 3,932.63 1,138.67 3.45 30 261.26 0 261.26
6M FY20 4,284.08 1,157.70 3.70 71 -191.62 1.57 -193.19

Recommendation on Laxmi Goldorna House Ltd IPO:

Review and Recommendation for Laxmi Goldorna Limited from InvestorZone is 2/10.

Lead Manager of Laxmi Goldorna House Ltd IPO:

  1. Beeline Broking Limited

Registrar of Laxmi Goldorna House Ltd IPO:

  1. Kfin Technology Private Limited

Discussion on Laxmi Goldorna House Ltd IPO:

    Avoid SMEs IPOs untill the market condition improves. Lot of good opportunities are available in the mainline companies.