Getalong Enterprise has developed a robust supply chain for the sourcing of a wide variety of products that we offer to our customers. While, they do not have any long-term contracts with any of our raw material suppliers / products,however, they have maintained good relationships with our major suppliers. We believe our good relationship with our suppliers enable us to obtain good quality products within the prescribed timelines. We continually strive to maintain strong relationships with our suppliers in order to derive better insight into the markets for our raw materials, which helps us to manage our raw material supply chain, resulting in greater predictability of supply and, consequently, a greater ability to meet production schedules and achieve on-time delivery for our customers. The Company is required to comply with central and state laws in respect of property. Central Laws that may be applicable to our Company's operations include the Land Acquisition Act, 1894, the Transfer of Property Act,1882, Registration Act, 1908, Indian Stamp Act, 1899, and Indian Easements Act, 1882. Our Company believes in the quality in our process and products. We are committed to maintain quality at all steps of the processing chain upto dispatch of finished products. Our dedicated team ensures the compliance with good practices. We give prime focus to providing quality products to our customers and follows high quality standards On the financial performance front, Getalong reported turnover/net profits (loss) of Rs. 66.50 cr. / 0.86 cr. (FY21) and Rs. 17.06 cr. / 1.07 cr. (Q1 FY22). So company has shown decline in sales, but surprisingly profit has been increased in all two years. For the last two years, company has posted EPS of Rs. 4.7 and RoNW of 32.63%. The issue is priced at a P/BV of 4.79 based on its NAVs of Rs. 14.4 post issue. As per FY22 annualised earnings, on fully diluted equity post issue, IPO is priced at P/E of around 3 and as per FY21 earnings, P/E is around 15, which looks reasonably priced, but we have very limited financial data available for this company. As per RHP, there are no listed peers available in market. On BRLM's front, Sherni Shares Private Limited associated with this SME IPO and handled 5 IPOs in last 2 years. From last 5 IPOs, two opened below issue price and remaining above issue price. As of now from 5 IPOs, three are trading below and remaining are trading above issue price or at par. ( As on 22.09.21 ) For Getalong Enterprise, very limited financial data is available, P/E is around 15 for FY21 and for annualised FY22 P/E is around 3. So issue looks reasonably priced, but as very limited financial data is available, so it would be good to track the results for next 6-12 months, before taking any decision. Company is in business of trading and its too much competitive and it would be interesting to see, if company can repeat the performance in future also. Performance of BRLM is poor. So we give AVOID rating to this SME IPO.
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