Positron Energy Limited IPO

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The Company focused solely on Management and Technical Advisory Services for the Oil and Gas Industry. In FY 2018-19, they diversified into the aggregation business of Coal Bed Methane Gas (CBM) for industrial unit supply. Building on their success with CBM Gas, in July 2022, they expanded into the Natural Gas aggregation business to meet the increasing demands of industrial units.

Their operations encompass end-to-end solutions for gas distribution to industries across India, providing management consultancy services, commercial and financial advisory, and technical services, including Project Management and O&M (Operation and Management) Services. They have developed a significant gas aggregation business, particularly in Natural Gas, with a volume of approximately 35 MMSCM. Their operations are facilitated through common carrier pipeline networks managed by major public and private sector players in India.

Clientele and Market Presence

They have served major companies in the Oil & Gas sector, including both Public Sector Undertakings (PSUs) and private entities. Their expertise and competence have established them as a prominent player in the industry, and they continue to leverage their strengths to expand their presence and achieve growth.

Gas Exchange Membership and Market Operations

Their business is secured through client membership with the Indian Gas Exchange (IGX), allowing them to source natural gas on demand from the free market. This membership provides them with the flexibility to manage their gas supply efficiently, including offloading excess gas when necessary. Their current portfolio manages a substantial daily volume of 4000-5000 MMBTU of gas sourced through long-term contracts with customers.

Future Outlook

Their Company is dedicated to expanding their service portfolio and complementing the projects of their clients. With their consistent year-round services, commitment to quality, and continuous efforts to innovate and adapt to market needs, they are poised to lead the industry towards a sustainable and prosperous future.

In summary, Positron Energy Limited is a dynamic and evolving company in the Oil & Gas sector, leveraging its extensive experience, technical expertise, and strategic partnerships to deliver comprehensive solutions and drive growth in the industry.

Objects of the Positron Energy Limited IPO:

The Issue Proceeds from the Fresh Issue will be utilized towards the following objects: i. To Meet Working Capital Requirements ii. General Corporate Purposes
DRHP of Positron Energy Limited IPO
RHP of Positron Energy Limited IPO

Positron Energy Limited IPO Details:

Open Date: Aug 12 2024
Close Date: Aug 14 2024
Total Shares: 2,048,400
Face Value: ₹ 10 Per Equity Share
Issue Size: 51.21 Cr.
Lot Size: 600 Shares
Issue Price: ₹ 238 - 250 Per Equity Share
Listing At: NSE Emerge
Listing Date: Aug 20 2024

Promoters And Management:

Dr. Safalta S Gupta aged 43 years is a Chairman & Independent Director of the company. She holds the degree of MBBS since 2003 and Diploma in Gynecology and Obstetrics (D.G.O) from the University of Gujarat, since 2005. She has an experience of 7 years in the field of Gynaecology. Her presence on the board contributes to fostering independence in the company's functioning and operations. Mr. Rajiv Shankarankutty Menon aged 44 years is Managing Director of the company. He holds the degree of Bachelor of Commerce (B.com) from Sardar Patel University, Gujarat. He is having an experience of more than 15 years in Oil & Gas Industry. He has been one of the guiding force behind the growth and business strategy of the Company. Mr. Manav Bahri, aged 47 years is Whole Time Director & CEO of the company. He Holds the degree of Bachelor of Technology in Civil Engineering from National Institute of Technology, Hamirpur, Himachal Pradesh University since 1998 and Post Graduate Diploma in Management (Dual Specialisation) from Symbiosis Institute of Management Studies since 2000. He is having an experience of more than 15 years in Oil & Gas Industry. He currently looks into the overall operation of the company.

Financials of Positron Energy Limited IPO:

Particulars ( In Lakhs )
2022
2023
2024
Revenue from Operations 869 5,143 13,473
Other Income 28 60 69
Total Revenue 897 5,203 13,542
Purchases of Stock-in-trade 513 4,572 11,346
Change in Work-In-Progress -102 -280 114
Employees Benefit Expenses 186 293 459
Other Expenses 183 258 351
EBITDA 117 360 1,273
OPM (%) 13.02% 6.91% 9.40%
Depreciation & Amortisation 22 31 26
EBIT 94 329 1,247
Finance Cost 15 42 58
PBT 79 287 1,189
Tax 21 74 310
PAT 58 213 879
NPM (%) 6.46% 4.09% 6.49%
No.of Shares 76.0 76.0 76.0
EPS 0.76 2.80 11.56

Comparison With Peers:

Note :- There are no listed companies in India or abroad whose business portfolio is comparable with this business

Recommendation on Positron Energy Limited IPO:

Review and Recommendation of Positron Energy by team IZ is 6/10. 1. Positron Energy was primarily engaged in providing Management and Technical Advisory Services within the Oil and Gas industry. 2. Core Business Operations Positron Energy Limited offers comprehensive Management and Technical Advisory Services within the Oil and Gas industry, providing end-to-end solutions for gas distribution to industrial clients across India. 3. The company’s service portfolio includes commercial and financial advisory, technical services, project management, and Operation and Maintenance (O&M) services, particularly within the Gas sector. The company has established a robust gas aggregation business, achieving a volume of approximately 35 MMSCM, primarily focused on Natural Gas. 4. Market Presence and Clientele Positron Energy Limited has served major players in the Oil & Gas sector, including both Public Sector Undertakings (PSUs) and private enterprises. The company has established itself as a reliable and competent service provider, evidenced by its technical qualifications and empanelment with numerous industrial clients. 5. Market Competition Positron Energy Limited operates in a highly competitive market, characterized by the presence of a wide range of players, from small enterprises to large regional, national, and international entities. The competitive environment is driven by factors such as service quality and pricing, which are critical in influencing client decisions. 6. The Revenue has Increased from Rs.8 Crores in FY22 to Rs.134 Crores in FY24. 7. The EBITDA has Increased from 1 Crores in FY22 to 12 Crores in FY24. 8. The PAT has Increased from 58 Lakhs in FY22 to 8 Crores in FY24. 9. As per FY24, CFO/EBITDA is 0.94, and EPS is 11.56, 10. Market Capitalization is 190 Crores and P/E is 21.6x based on FY24.

Lead Manager of Positron Energy Limited IPO:

  1. Beeline Broking Limited

Registrar of Positron Energy Limited IPO:

  1. Link Intime India Private Limited

Company Address:

Positron Energy Limited Office No. 3, IT Tower-2, Ground Floor Infocity, Sector-7, Gandhinagar-382007 Phone: +91 63537 65381 Email: secretarial@positron-india.com Website: https://positron-india.com/

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