Incorporated in April 2016, Ganesh Green Bharat Limited is an Electrical Contracting Service company. The company offers a range of services including the supply, installation, testing, and commissioning (SITC) of solar and electrical goods and services to various government bodies.
The company has completed projects under various government schemes, such as the Saubhagya Scheme, KUSUM Scheme, and Saur Sujla Yojna. Additionally, we have ventured into designing, building, installing, operating, and maintaining water supply projects like the Mukhya Mantri Nishchay Quality Affected Yojna, and Har Ghar Jal (Jal Jeevan Mission).
IPO Review
| Parameters | Score (0-5) | Comments |
|---|---|---|
| Promotors/Sr. Management & Work Ethics | 4 | Well experienced promotors. No red flags as per the RHP – open criminal proceedings, etc. except a couple of small material litigations. |
| Company Financials | 3 | Good growth is seen in the company’s top-line and bottom-line performance. However the numbers are not consistent. Also the sudden rise in top and bottom line raises questions. |
| Segment Growth Opportunity | 3 | Highly competitive with good growth at sector level. |
| Asking Valuation (compared with Peers) | 5 | Asking PE ~ 23, peers in the range of 60-130x. |
| Lead Manager’s past performance | 5 | Avg ~ 54% listing day gain for past 36 IPOs in 2023 and 2024. |
| Consolidated Score | 4 |
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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