(i) Rudrabhishek Enterprises Limited (REPL) is Integrated Real Estate & Infrastructure consultants, having legacy of 25 Years. They integrate a range of services to deliver end-to-end consultancy in diverse sectors. REPL group is uniquely positioned to manage projects right from the ideation stage and carry it through planning, designing, execution, and finally marketing. They can take up a greenfield or brownfield project and convert it into an integrated Hi-tech Township, Smart City, IT Park or SEZ.
(ii) The diverse consultancy services include Viability Analysis, Infrastructure Services, Urban Planning & GIS, Building Area & Design, Structural Design, Services Design (MEP), Project Management Consultancy (PMC), and Strategic Marketing Advisory.
(iii) They have designed and managed complex projects in sectors such as Real Estate (Residential, Commercial, Group Housing & Integrated Township projects), Retail (Malls & Office Complexes), Hospitality & Healthcare, Recreation (Sports Stadium, Clubs), Water Sanitation & Environment, Solid Waste Management, Hi-Tech Cities, Smart Cities etc., just to name a few. REPL also provides geographical information system and cloud computing data management solution for larger townships and urban development projects.The group is intensively involved in Smart City Mission of Government of India. They have been providing consultancy in conceptualization, planning and implementation of multiple smart cities viz., Varanasi (U.P.), Indore (M.P.) & Kanpur (U.P).
(iv) Today, the Group has many Subsidiary Companies for providing focused solutions, which includes Rudrabhishek Infosystem Pvt. Ltd. (RIPL), IM + Capitals, REPL Singapore Pvt. Ltd. (RSPL) and Shing Design Atelier (SDA), Singapore. REPL derives strength from its in-house team of qualified and experienced financial analysts, engineers, urban planners, interior designers, GIS experts and project managers.
(v) REPL is an ISO 9001:2008 certified organization empaneled with more than 30 government department & agencies. The Group has the privilege of serving a number of esteemed clients from Government, Public, and Private sectors. Pan India projects are handled from the branch offices located at Delhi, Noida & Lucknow; and project offices at Varanasi, Indore & Kanpur. For catering to clients from S.E. Asia region, they have an office of RSPL in Singapore. After consolidating its position in South East Asia region, the REPL Group now eyes to get aggressively into a global market of infrastructure consultancy.
Promoters of Rudrabhishek Enterprises Limited Company are:
Mr. Pradeep Misra
Ms. Richa Misra
(i) Authorized Share Capital
20,000,000 shares at FV@10)
(ii) Issued, Subscribed,& Paid-up Share Capital Before Issue
(12,770,500 Shares at FV@10)
(iii) Present Issue
( 4,569,000 Shares at FV@10)
(iv) Reservation for Market Maker [231,000] Shares at FV@10)
(v) Reservation for QIB & HNI  Shares at FV@10)
(vi) Reservation for Retail  Shares at FV@10)
(vii) Paid Up Share Capital after the issue
Financials of Rudrabhishek Enterprises Limited IPO as per DRHP:
1. Assets and Liabilities Key Parameters
2. Profit n Loss Key Parameters
3. Cash Flow Statement(all figures in lacs)
(i) Net Cash Generated from Operation
(ii) Net Cash Generated from Investment
(iii) Net Cash Generated from Financing Activity
(iv) Total[ (i)+(ii)+(iii) ]
(v) Cash and Cash Equivalents at the Beginning of the Year
(vi) Cash and Cash Equivalents at the end of the Year
a) The Revenue is growing at CAGR of 9.09% from FY13 to FY17.
b) The PAT rose between FY13 to FY16 at CAGR of 22%. However, in FY17 performance was gone down to 50% as compared to FY16.- Inconsistency in bottom-line is Red Flag here.
c) The Annualized EPS for FY17-18 would be 1.56.
d) P/E(post issue)= 26( reasonably priced) at Cutoff price of 41. Industry P/E is 41. Green Flag
e) P/B(post issue)= 1.13 at cutoff price of 41- Green Flag
f) The company's debt/equity is almost nil. The company has reduced the Long term borrowing to almost zero in 9MFY18 as compared to 18Cr last year. Green Flag
g) Mcap/Sales(ideally <2)= 2 on FY17 sales( on border line).
h) The Company's EBITDA Margins has gone down from 26% in FY17 to 14% 9MFY18.- Red Flag
i) The Company has shown inconsistency in generating positive cash flows from operations in last 5 years- Red Flag.
Comparison With Peers:
As per DRHP Company has Mitcoin Consultancy and Artefact as their peer which are trading at P/E of 14 and 116 respectively.
Recommendation on Rudrabhishek Enterprises Limited IPO:
Rudrabhishek Enterprises Limited IPO Rating by InvestorZone team =>5/10.
Lead Manager of Rudrabhishek Enterprises Limited IPO: