Presstonic Engineering manufactures Metro Rail Rolling Stock Products, Metro Rail Signalling Products, and Infrastructure Products for global and domestic OEMs engaged in the manufacture and maintenance of rail and metro rail rolling stock and signaling equipment.
IPO Review
| Parameters | Score (0-5) | Comments |
|---|---|---|
| Promotors/Sr. Management & Work Ethics | 4 | Well experienced promotors. No red flags as per the RHP – litigations, open criminal proceedings, tax proceedings, etc. |
| Company Financials | 3 | Though top and bottom line numbers are in an increasing trend, Total Borrowing seems to be on the higher side. |
| Segment Growth Opportunity | 3 | Highly competitive business. Seem to be relying on Metro growth in India. |
| Asking Valuation (compared with Peers) | 3 | Asking PE is ~18x, peers in the range of 15-35x. Considering the financials, the asking valuation seems to be on the higher side. |
| Lead Manager’s past performance | 3 | Avg 17% listing day gain for past 37 IPOs. Considering only 2023 IPOs, the avg listing day gain was ~13% for 4 IPOs. |
| Consolidated Score | 3.2 |
Disclaimer – This is not an investment advice. Nobody has paid us to write this review. This analysis is for education purposes only.
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