MMP Industries Limited

LISTED

SME IPO · IPO Guide

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Issue Price

₹186 – ₹188

Listed On

12 Apr 2018

Listing Price

₹190 (+1.06%)

Current Price LIVE

₹190 (+1.06%)

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Lot Size Calculator

Application	Lots	Shares	Amount
Retail (Min)	1	600	₹1,12,800
Retail (Max)	2	1,200	₹2,25,600
S-HNI (Min)	3	1,800	₹3,38,400
S-HNI (Max)	8	4,800	₹9,02,400
B-HNI (Min)	9	5,400	₹10,15,200

As per financials, company's performance is good, RoNW is 28.04% for last three fiscals and issue is reasonably priced as per latest earnings. So we give NEUTRAL rating to this SME IPO as per current market situation.

As on Date	QIB	NII	RII	Total
Shares Offered / Reserved	8,55,000	6,41,250	14,96,250	29,92,500
Day 1 28-03-18	0	2,35,200 (0.37)	16,800 (0.01)	2,52,000 (0.08)
Day 2 02-04-18	0	2,46,000 (0.38)	94,200 (0.06)	3,40,800 (0.11)
Day 3 03-04-18	0	2,89,200 (0.45)	3,42,600 (0.23)	6,31,800 (0.21)
Day 4 04-04-18	10,61,400 (1.24)	8,68,800 (1.35)	17,46,000 (1.17)	36,76,200 (1.23)

Incorporated in 1973, MMP Industries Limited is a Nagpur, Maharashtra based company engaged in manufacturing of aluminium products. Company's aluminium product range includes pyro and flake aluminium powders, atomised aluminium powders, aluminium pastes, aluminium conductors (all aluminium, alloy aluminium and aluminium steel reinforced). Aluminium powders (pyro, flake and atomised) are used in many industrial sectors like construction (AAC Blocks) and mining (Aluminised slurry explosives), agriculture (pesticides), defence (ammunition), fire crackers, railways (thermit portions) etc. Aluminium pastes are used in automotive, decorative and industrial paints. Aluminium Conductors are consumed by the power sector for laying of overhead transmission lines. On financial performance front, MMP has posted total income/net profits of Rs. 104.55 cr. / Rs. - (0.77) cr. (FY13), Rs. 121.73 cr. / Rs. 2.51 cr. (FY14), Rs. 157.64 cr. / Rs. 3.71 cr. (FY15), Rs. 181.21 cr. / Rs. 7.78 cr. (FY16) and Rs. 203.93 cr. / Rs. 13.85 cr. (FY17). For upto H1 of FY18, it has earned net profit of Rs. 6.40 cr. on a turnover of Rs. 105.56 cr. From financials, growth of the company is good. For last three fiscals it has posted an average EPS of Rs. 8.15 and an average RoNW of 28.04%. Issue is priced at a P/BV of 4.76 based on its NAV of Rs. 39.52 as on 30.09.17. If we annualise latest earnings and attribute it on fully diluted equity post issue, then asking price is at a P/E of around 20 against industry average of around 36. Thus issue is reasonably priced. On merchant banker's front, this is the 27th IPO in last three fiscals. Out of last 10 listings, 1 opened at discount to offer price, 1 at par and the rest eight with a premium ranging from 2.6% to 20% on the day of listing. As per financials, company's performance is good, RoNW is 28.04% for last three fiscals and issue is reasonably priced as per latest earnings. So we give NEUTRAL rating to this SME IPO as per current market situation.

Fresh Issue

1
Setting up a new facility for manufacturing of Atomised Aluminium Powder, Pyro and flake Aluminium Powder and Aluminium FoilsPrepayment or repayment of a portion of loan facilities availed by the CompanyGeneral Corporate Purposes
2
Setting up a new facility for manufacturing of Atomised Aluminium Powder, Pyro and flake Aluminium Powder and Aluminium Foils
3
Prepayment or repayment of a portion of loan facilities availed by the Company
4
General Corporate Purposes
5
All matter published here is purely for educational and information purposes only and under no circumstances should be used for making investment decision
6
Readers must consult a qualified financial advisor prior to making any actual investment decisions, based on information published on this applicatio
7
With entry barriers, SEBI wants only well informed investors to participate is such SME offer
8
With crazy recent listings, SME IPOs have started drawing attention of investors across the boar
9
However, as SME issues have entry barriers and continued low preference from broking community, any reader taking decisions based on any information published here does so entirely at own ris
10
Above information is based on information available as on date coupled with market perception

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Disclaimer

No financial information whatsoever published herein, should be construed as an offer to buy or sell securities, or as information to make investment decisions, or as an official confirmation of any transaction. All matter published herein is purely for educational and informational purposes only and under no circumstances should be used for making investment decisions. Readers must consult a qualified financial advisor prior to making any actual investment decisions.

💬 Community Discussion

30 Comments

N
nik chhatbar 25 Aug 2018, 12:21

ohk
I
IPO Guru 25 Aug 2018, 11:53

company has shown good growth, so one may hold, but this is SME stock so holding period should be at least 6-12 months.
V
VDS 24 Aug 2018, 11:50

should I hold this or sell ??
V
Virang Patek 12 Apr 2018, 09:44

above 200
S
s p 12 Apr 2018, 08:14

189 open today
R
rushabh 11 Apr 2018, 19:29

hello what will happen tomorrow
N
nik chhatbar 11 Apr 2018, 18:17

grey market 17k bol rahe he ipo guru
N
nik chhatbar 11 Apr 2018, 18:16

1 or 5% up aisa bol rahe he
K
Kalpit 11 Apr 2018, 17:45

what u think about mmp industries
N
nik chhatbar 11 Apr 2018, 14:58

ohk
I
IPO Guru 11 Apr 2018, 14:39

yeah
N
nik chhatbar 11 Apr 2018, 13:39

?
N
nik chhatbar 11 Apr 2018, 13:08

1 to 5% up??
I
IPO Guru 11 Apr 2018, 12:56

1-5%
N
nik chhatbar 11 Apr 2018, 12:45

sercit? 20% ?
N
nik chhatbar 11 Apr 2018, 12:44

mmp open price ?? tmrw?
N
nik chhatbar 11 Apr 2018, 12:44

ipo guru
B
bdv 10 Apr 2018, 11:04

approx listing price .?
I
IPO Guru 10 Apr 2018, 10:35

Here last subject to was 3k
B
bdv 09 Apr 2018, 23:09

sub 2 rs.15000...?
I
IPO Guru 04 Apr 2018, 11:31

not active in gray market
A
Anilt 04 Apr 2018, 11:11

latest subscription please ?
R
Rana Jitendrasinh 03 Apr 2018, 17:56

sub 2 kya hai
I
IPO Guru 03 Apr 2018, 14:35

its risky as its very big and chances of under listing more.
D
DINESH MODI 03 Apr 2018, 10:57

MMP Ind no NSE SME IPO bharay ke nahi ?
I
IPO Guru 29 Mar 2018, 10:31

as per valuations it looks good, but current market scenario makes it risky, so if one can take risk of 5% downside, then only apply.
G
gaurav ahuja 28 Mar 2018, 14:04

apply or not
A
Aunali Rupani 28 Mar 2018, 09:47

https://youtu.be/Or8T_SYvJp4
I
IPO Guru 22 Mar 2018, 12:56

wait till last day subscription
A
Ashish 22 Mar 2018, 11:13

apply or not apply

Period	Total Income	Total Expenses	Profit After Tax (PAT)
H1 FY18	105.56	95.70	8.07
FY17	203.93	188.81	16.56
FY16	181.21	169.43	8.87
FY15	157.64	151.98	3.71
FY14	121.73	118.00	2.51
FY13	104.55	102.57	(0.77)

Open Date	Mar 28, 2018
Close Date	Apr 04, 2018
Allotment Date	Apr 10, 2018
Listing Date	Apr 12, 2018
Face Value	₹ 10 Per Equity Share
Issue Price	₹ 186 to ₹ 188 Per Equity Share
Retail Min Lot	1 Lot (600 Shares - ₹ 1,12,800)
Lead Manager	Guiness Corporate Advisors Private Limited

MMP Industries Limited

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