Pratham EPC Projects Limited IPO

Apply 0
Avoid 0

Pratham EPC Projects Limited, originally established as Pratham EPC Projects Private Limited, is a company that has evolved from its initial incorporation on October 27, 2014, into a public limited entity as of July 28, 2023, following a shareholder resolution on July 21, 2023. Located in Ahmedabad, Gujarat, India, the company specializes in engineering, procurement, construction, and commissioning (EPCC) services, primarily catering to the oil and gas distribution sector in India.

Business Scope and Services

Pratham EPC Projects Limited is engaged in laying pipeline networks and constructing associated facilities, alongside offering operations and maintenance services to City Gas Distribution (CGD) companies across India. The company’s expertise spans across various pipeline projects, including those for oil, gas, and water distribution, on a turnkey basis which encompasses engineering, procurement, construction, horizontal directional drilling, and the provision of civil, electromechanical, and instrumentation services.

Revenue Streams

The company’s revenue is derived from two main business verticals:

  • Gas & Oil Pipeline Projects,
  • Water Pipeline Projects.

Subsidiary Acquisition

As an extension of its growth strategy, Pratham EPC Projects Limited has increased its stake in Pipeflow Integrity India Private Limited (PIIPL) to 52%, making PIIPL a subsidiary as of May 26, 2023. This acquisition is part of the company’s efforts to expand its service offerings and strengthen its position in the market.

Conclusion

Pratham EPC Projects Limited’s business overview highlights its strong foundation, experienced leadership, comprehensive service offerings, and a robust order book, which collectively position the company for continued growth and success in the engineering, procurement, construction, and commissioning sector, particularly within the oil and gas distribution industry in India.

Objects of the Pratham EPC Projects Limited IPO:

The Issue Proceeds from the Fresh Issue will be utilized towards the following objects: i. Purchase of Machinery. ii. To Meet Working Capital Requirements. iii. General Corporate Purpose.

Pratham EPC Projects Limited IPO Details:

Open Date: Mar 11 2024
Close Date: Mar 13 2024
Total Shares: 4,800,000
Face Value: ₹ 10 Per Equity Share
Issue Size: 36.00 Cr.
Lot Size: 1600 Shares
Issue Price: ₹ 71 - 75 Per Equity Share
Listing At: NSE Emerge
Listing Date: Mar 18 2024

Promoters And Management:

Mr. Pratikkumar Maganlal Vekariya aged 41 years is Chairman and Managing Director of the company. He holds the degree of Diploma in Mechanical Engineering from Government Polytechnic, Amreli. He is having more than 16 years in the Oil & Gas and Water Irrigation Project Management. He looks Overall Operations of the company. Mr. Nayankumar Manubhai Pansuriya aged 40 years is Whole Time Director of the company. He holds the degree of the Degree of Bachelor of Engineering in Mechanical from the Saurashtra University. He is having more than 16 years in the Oil & Gas and Water Irrigation Project Management. He looks Business Development and Procurement & Project Execution departments of the company. Mr. Mehul Nanjibhai Thummar aged 34 years is Non-Executive Director of the company. He holds the degree of the Master of Computer Application from Ganpat University, Gujarat. He is having an experience of more than 9 years in the field of Supply Chain and Manufacturing, Finance and Healthcare Domain.

Financials of Pratham EPC Projects Limited IPO:

Particulars ( In Lakhs )
2021
2022
2023
6M-FY24
Revenue from Operations 3,058 5,047 5,020 3,430
Other Income 27 16 147 151
Total Revenue 3,085 5,063 5,167 3,581
Cost of materials consumed 1,869 2,782 2,835 1,707
Changes in inventories -26 -159 -550 -880
Employees Benefit Expenses 348 574 694 744
Other Expenses 631 1,160 1,008 1,149
EBITDA 263 705 1,181 861
Depreciation & Amortisation 60 69 92 57
Finance cost 51 46 73 102
EBIT 203 635 1,090 803
OPM (%) 8.51% 13.92% 22.86% 24.03%
PBT 152 589 1017 702
Tax 39 148 253 178
PAT 113 441 764 523
NPM (%) 3.66% 8.72% 14.79% 14.61%
No.of Shares 177.60 177.60 177.60 177.60
EPS 0.63 2.48 4.30 2.94

Comparison With Peers:

Name of the Company Revenue (In Crore) PAT (In Crore) EPS ( in Rs) P/E CMP Mcap (In Crore)
Pratham EPC Projects Limited 50 8 4.30 17.4 75 133
Likhitha Infrastructure Limited 351 60 15.22 16.2 262 1,034
* All the data is as per FY23.

Lead Manager of Pratham EPC Projects Limited IPO:

  1. Beeline Broking Limited

Registrar of Pratham EPC Projects Limited IPO:

  1. Link Intime India Private Limited

Company Address:

Pratham EPC Projects Limited A-1101, Sankalp Iconic, Opp. Vikram Nagar Iscon Temple Cross Road, S.G. Highway, Ahmedabad-380054 Phone: 079-40037008 Email: cs@prathamepc.com Website: https://www.prathamepc.com/

Discussion on Pratham EPC Projects Limited IPO:

Leave a Reply