Power & Instrumentation (Gujarat) Limited IPO

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The company is a contracting firm founded in 1983 to provide complete EPC solutions for electrical requirements and manufactured electronic boards, electrical panels & controls panel. Currently, we are engaged in providing a wide range of contracting based services in the field of Electrical, Mechanical and Instrumentation Engineering. We have been providing the clients with complete turnkey solutions from concept to commissioning which includes Design, procurement, installation, testing & commissioning and maintenance of the system. We believe that the one-stop solution provided by us has made us amongst the most trustworthy organizations which are reflected by the number of repeated orders received from the same clientele.We offer a complete solution to electrical equipment. We are listing some of the major services offered by us regularly but we also believe that every requirement is specific and hence we also prefer to cater to the specific requirement i.e. Power & Distribution Transformers, DG Sets, HT and LT Power Distribution Panels, SCADA & Building Management Systems, Busducts and Busways, Cables and Cable Management System, Internal/External/Specialized Lighting and Uninterrupted Power Supply System (UPS) etc.

Power & Instrumentation (Gujarat) Limited IPO Stock Quote & Charts

7.70

-4.94%

  • Open: 7.70
  • High - Low: 7.70 - 7.70
  • Previous Close: 8.10
  • Total Traded Volume: 4000
  • Updated On: 09-Oct-2019

Objects of the Power & Instrumentation (Gujarat) Limited IPO:

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

Power & Instrumentation (Gujarat) Limited IPO Details:

Open Date: Apr 11 2018
Close Date: Apr 13 2018
Total Shares: 18,64,000 E
Face Value: ₹ 10 Per Equity Share
Issue Type: Fixed Price Issue IPO
Issue Size: 6.1512 Cr.
Lot Size: 4000 Shares
Issue Price: ₹ 33 Per Equity Share
Listing At: NSE Emerge
Listing Date: Apr 23 2018

Promoters And Management:

(i) Mrs. Padmavati Padmanabhan Pillai, aged 68 years, is the Executive Director and Promoter of our Company. She has well experience in Human Management. Mrs. Pillai joined the Board of Directors of the company since its inception. She has 20+ years of experience in the industry. (ii) Mr. Padmaraj Padmnabhan Pillai, aged 41 years, is the Managing Director and Promoter of our Company, has two decades of experience in the Electric Sector. He has been associated with the company since year 1996. He is responsible for the overall working of our Company and is instrumental in making strategic decisions for the Company. Mr. Pillai holds B.E.in Electrical degree from Ahmedabad University

Company Business:

Major Clientele & Executed Projects The Company has vast experience in executing Electro-Mechanical projects for reputed clientele across various industries such as Engineering and allied products, Textiles, Steel & Non-ferrous metals,Petrochemicals, etc. Apart from private sector entities, they are also involved in bidding and executing   government and semi-government projects. They have executed projects for Sardar Vallabhbhai Patel International Airport, Ahmedabad, Raja Bhoj Airport, Bhopal, U N Mehta Hospital, Ahmedabad, Secretariat Building, Naya Raipur, YMCA Club, Ahmedabad etc. Due to their well established marketing network and proven execution capabilities, they have been able to regularly procure EPC projects. Currently we have orderon-hand from the following Clienteles: 1. Indian Institute of Science Education and Research : Bhopal 2. National Buildings Construction Corporation Limited : Gurgaon ,Haryana 3. Goa State Infrastructure Development Corporation Limited : Goa 4. Central Public Works Department-Nagpur 5. NISM Project, CPWD, New Mumbai 6. Ajmer Vidyut Vitran Nigam Ltd –Ajmer 7. MTNLworli - Mumbai 8. Airport Authority of India - Jammu Airport - Jammu 9. CPWD-NIMS Patalganga 10. Gujarat High Court - Ahmedabad – PWD 11. Airport Authority of India - Bhopal Airport 12. Airport Authority of India - Shrinagar Airport 13. Naya Raipur Development Authority

Capital Structure:

Authorized Share Capital ( 1,00,00,000 shares at FV@10) 10 cr
Issued, Subscribed,& Paid-up Share Capital Before Issue (51,79,900   Shares at FV@10) 5.179 cr
Present Issue (18,64,000 Shares at FV@10) 1.864 cr
Reservation for Market Maker (  96,000 Shares at FV@10) 9.6 lac
Net Issue to Public (18,64,000-96000=  17,68,000 Shares) 1.768 cr
QIB & HNI Quota- 8,84,000 50%
Retail Quota- 8,84,000 50%
Paid Up Share Capital after the issue 6.947 cr

Financials of Power & Instrumentation (Gujarat) Limited IPO:

 1. Balance Sheet Snippet[ Financials as on Dec 2017]
       (i) Shareholders’ Fund[Equity] Value 1333.9 lac
      (ii) Asset 5290.94 lac
      (iii) Liability 3957.04 lac
      (iv) Debt/Equity 3(high)
      (v)  Net Worth(Asset- Liability) 1333.9 lac
     (vi)  RONW(PAT/Net Worth) 11%
     (vii) P/B(post issue) 1.83
2. Profit n Loss Snippet (i) The Revenue of the company in last 5 years is growing at CAGR of24%(Excellent). (ii) The PAT of the company is last 5 years is growing at CAGR of 26.34%(Excellent) (iii)The EBITDA Margins of last 5 years are: 6%(FY13),8.14%(FY14), 8%(FY15), 9%(FY16) and 9.6%(FY17). EBITDA margin has improved from 6% to 9.6% in last 5 years which is a good sign for the company. (iv) Annualized EPS(post issue)= 2.67 (v) Annualized P/E(post issue)=12(reasonably priced) at the cutoff price of 33 .  
3. Cash Flow Statement(all figures in lacs)
Particulars FY17 FY16 FY15 FY14 FY13
(i) Net Cash Generated from Operation 258.98 -289.94 -116.85 -109.89 -121.11
(ii) Net Cash Generated from Investment -218.87 -14.68 -5.7 -81.58 128.72
(iii) Net Cash Generated from Financing Activity 56.08 418.65 157.13 196.56 -37.46
(iv) Total[ (i)+(ii)+(iii) ] 96.19 114.03 34.58 5.09 -29.85
(v) Cash and Cash Equivalents at the Beginning of the Year 471.03 374.82 260.79 226.22 221.33
(vi) Cash and Cash Equivalents at the end of the Year 567.22 488.85 295.37 231.31 191.48

Recommendation on Power & Instrumentation (Gujarat) Limited IPO:

Rating: 7/10. 1-5: Fair 5-7: Good 7-10: Excellent

Lead Manager of Power & Instrumentation (Gujarat) Limited IPO:

  1. Navigant Corporate Advisors Limited

Registrar of Power & Instrumentation (Gujarat) Limited IPO:

  1. Skyline Financial Services Private Ltd

Company Address:

A/1, Sixth Floor, Safal Profitaire, Near Krishna Bungalows, 100 Ft. Road, Prahladnagar, Ahmedabad– 380015, Gujarat, India. Telephone: +91 79 0051222 Fax No. 91 79-40051222 E-mail: priyacs@grouppower.org Website: www.grouppower.org

Bid Details of Power & Instrumentation (Gujarat) Limited IPO as on
13-Apr-2018 18:00:00 IST

Category No.of shares offered No. of shares bid
932,000 7,612,000
932,000 10,524,000
- -
1,864,000 18,136,000
QIBs No
QIBs+HNIs Subscription 8.17X
Retail Subscription 11.29X
Total Subscription 9.73X

Discussion on Power & Instrumentation (Gujarat) Limited IPO:

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