Mrs. Bectors Food Specialities Limited

LISTED

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Issue Price

₹286 – ₹288

Listed On

24 Dec 2020

Listing Price

₹501 (+73.96%)

Current Price LIVE

₹501 (+73.96%)

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Lot Size Calculator

Application	Lots	Shares	Amount
Retail (Min)	1	50	₹14,400
Retail (Max)	13	650	₹1,87,200
S-HNI (Min)	14	700	₹2,01,600
S-HNI (Max)	69	3,450	₹9,93,600
B-HNI (Min)	70	3,500	₹10,08,000

Retail: ≤ ₹2L • S-HNI: ₹2L–₹10L • B-HNI: > ₹10L Cap Price: ₹288/sh

As per financials, results are average, RoNW is 9.52% for last three fiscals and issue looks fully priced with respect to latest earnings. This industry is growing at good rate, and expected to perform good in future also. Performance of BRLMs are good. So we give SUBSCRIBE rating to this IPO and one should book profit on listing.

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As on Date	QIB	NII	RII	Employee	Total
Shares Offered / Reserved	37,76,502	28,32,378	66,08,881	18,450	1,32,36,211
Day 1 20-12-15	60,450 (0.02)	37,66,650 (1.33)	4,42,04,550 (6.69)	1,73,200 (9.39)	4,82,04,850 (3.64)
Day 2 20-12-16	1,76,53,750 (4.67)	2,45,53,500 (8.67)	10,81,41,400 (16.36)	5,61,850 (30.45)	15,09,10,500 (11.4)
Day 3 20-12-17	66,78,64,500 (176.85)	1,75,85,10,550 (620.86)	19,38,28,350 (29.33)	8,38,800 (45.46)	2,62,10,42,200 (198.02)

Period	Total Income	Total Expenses	Profit After Tax (PAT)
H1 FY21	438.55	386.50	38.44
FY20	764.97	725.83	29.76
FY19	786.02	735.44	33.18
FY18	695.75	642.93	36.07
FY17	603.86	567.39	25.05
FY16	583.21	526.97	39.45
FY15	578.52	534.81	28.47
FY16	543.01	506.51	25.88

Incorporated in 1995, Mrs. Bectors Food Specialities Ltd is one of the leading companies in the premium bakery segment and premium and mid-premium biscuit segment in North India. The company's product portfolio mainly consists of two categories of products; Biscuits (cookies, creams, crackers, digestive, etc.) and Bakery products (bread, buns, pizza bases, cakes, etc.). Mrs. Bectors manufactures and sells biscuits under its brand name "Mrs. Bector's Cremica" whereas bakery products are manufactured under the brand name of "English Oven" and offered in the premium market segments such as Delhi NCR, Mumbai, and Bengaluru. As of June 30, 2020, its bakery segment has a total of 96 products and the Biscuits segment has a total of 384 items. All of its products are manufactured in-house across 6 strategically located manufacturing units in 5 different cities i.e. Maharashtra, Karnataka, UP, Himachal Pradesh, and Punjab. The company has a very strong distribution network of 154 super-stockists and 644 distributors supplying products through 458,000 retail outlets and 3,594 preferred outlets. It sells its products to 23 states in India and also exports its products under its own brand name and third-party private labels to 64 countries all over the world. As per financial performance, Mrs Bectors has posted total income/net profits of Rs. 695.75 cr. / Rs. 36.07 cr. (FY18), Rs. 786.02 cr. / Rs. 33.18 cr. (FY19) and Rs 764.97 cr / Rs 29.76 cr (FY20). For upto H1 of FY21, company has posted profit of Rs 38.44 Cr on total revenue of Rs 438.55 Cr. So company has shown average performance. Mrs Bector has posted an average EPS of Rs. 5.63 and average RoNW of 10.75% for last three fiscals. Issue is priced at a P/BV of 4.61 as per NAV of 62.47 on 30.09.20. As per FY20 earnings, P/E is around 56.85. If we attribute latest annualised earnings of FY21 on fully diluted equity post issue, then asking price is at a P/E of around 22. As per RHP, comparison between the listed peers are shown in above table. On BRLM's front, three BRLMs are associated with this IPO, and have handled around 33 IPOs in last three fiscals, and from last 10 IPOs, 4 opened below issue price and remaining opened above issue price on the day of listing. As of now, from last 10 IPOs, all are trading above issue price. ( As on 15.12.2020 ) As per financials, results are average, RoNW is 9.52% for last three fiscals and issue looks fully priced with respect to latest earnings. This industry is growing at good rate, and expected to perform good in future also. Performance of BRLMs are good. So we give SUBSCRIBE rating to this IPO and one should book profit on listing.

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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

50 Comments

J
jayesh 22 Jul 2021, 18:17

Semi conductor shortages which are very very highly uses for automobiles sector and EV (Electrical Vehicles) sector and many more)
J
jayesh 21 Jul 2021, 19:25

Mindtec serves industries like Healthcare, Life sciences, Medical devices, Manufacturing, Industrial automation, Semi conductor, storage and energy and many more Mindteck does all 5G internet services and wireless and lo T (internet of things) and 5G enabled connected devices and internet and IT security so tremendous growth potential stock so buy
S
sam 27 May 2021, 11:39

For ipo and GMP related regular updates message us on wapp Nine(9) five(5) eight(8) six(6) four(4) zero(0) nine(9) five(5) two(2) three(3)
J
jayesh 17 Apr 2021, 18:01

Indokem ltd (Khatau junkar company) now trades at 32.75/-
J
jayesh 08 Apr 2021, 16:15

Indokem ltd.(Khatau junkar company-a name of great trust -a name of monopoly -a name of great quality - a name of leadership) given at 22/- some days before here now at 26.15/-. Very highly demanding products sizing chemicals manufacturing company. This is buy and hold stock for 3 months to 6 months for bumper returns
I
IPO Guru 27 Mar 2021, 18:06

@Muskan, you should hold it and don't worry with price movement.
M
Muskan gupta 22 Mar 2021, 12:58

i have 25 shares of mrs bectors and i buy this share at 415 rs each.. so what should I do.. please suggest me
J
jayesh 14 Mar 2021, 21:49

Indokem ltd.(Khatau junkar company-a name of great trust -a name of monopoly -a name of great quality - a name of leadership) given at 22/- some days before here now at 24.50/- at buyercap.This is buy and hold stock for 1 months to 6 months for bumper returns
K
Kedar Shinde 14 Mar 2021, 15:46

I have 90k and 4 different demat Account.. so how to i allocate my Fund ??? I think :- Anupam :- 1 lot , laxmi :- 2 lot, Nazara :- 3 lot
M
manohar 24 Jan 2021, 00:26

ipo shares sold at 596. i thought i took wrong decision but it is correct
I
IPO Guru 18 Jan 2021, 22:00

@all, it's time to accumulate and it should be around 1-3% of total portfolio value.
V
vishal 18 Jan 2021, 14:27

sir ji ye ipo ka price uper aane k chance h ya sell karu ji
N
neeraj 16 Jan 2021, 15:01

@gfbharat- sell and out
A
Anay Kabta 14 Jan 2021, 10:12

@IPO Guru is it a good time to enter into this stock?
G
gdbarot 14 Jan 2021, 09:37

guruji kya karu hold karu ya sell karu abhi day by day down ho raha he.. so plz guide me
I
IPO Guru 09 Jan 2021, 16:12

@all, it's good price to add at this level and one may invest 2-3% of total portfolio in this stock.
H
Hasan Nadaf 08 Jan 2021, 20:48

holle
H
Hiren Rakholiya 05 Jan 2021, 17:11

sell
G
gdbarot 05 Jan 2021, 09:16

i have alloted 50 share, what should i do hold for more time ya sell kar du, daily down ho raha he so plz suggest to me..
N
Nitinkumar Chanawala 05 Jan 2021, 00:27

Ipo Guruji Sale karu ya hold pls rep....
K
Killer 04 Jan 2021, 23:39

strictly follow SL when working in market for short-term and if long term view, then stop panicking...
N
nsr 04 Jan 2021, 23:36

l havelost 21000
N
nsr 04 Jan 2021, 23:35

i had sold At 473
I
IPO Guru 04 Jan 2021, 11:46

@NSR, we don't have any short term view on any stock.
N
neeraj 04 Jan 2021, 10:53

@nsr. suggest sell immidiately
N
nsr 03 Jan 2021, 10:21

ipo guru please tell me , i bought at 535.; can i hold or sell? suggest me please
K
Killer 01 Jan 2021, 22:11

My 900 analysis might wrong for short term....
K
Killer 01 Jan 2021, 22:10

Sold today rest 25 shares...Now I am.out of this stock.
I
IPO Guru 01 Jan 2021, 12:36

@all, as per our team price around 600 is good for profit booking and new buying in range of 400 to 450
S
Sameerbhai Modi 01 Jan 2021, 11:17

ipo guru answers
S
Sameerbhai Modi 01 Jan 2021, 11:16

sell @ bay @ hold
K
Killer 31 Dec 2020, 16:20

correct for short term...500 would be good SL
I
IPO Guru 31 Dec 2020, 14:20

Who got allotment in IPO may book half profit and those who bought on listing, should keep strict SL around 500.
N
nil gohel 31 Dec 2020, 12:47

hold ya sell karu guru
N
neeraj 30 Dec 2020, 08:02

expert, i bought at 580 level .( bad decision). pls suggest wht i do
I
IPO Guru 29 Dec 2020, 21:43

@all, as per our team price around 600 is good for profit booking and new buying in range of 400 to 450
N
Nitinkumar Chanawala 29 Dec 2020, 13:16

sale Karo Ya wait karo
N
neeraj 29 Dec 2020, 12:06

bector will ever cross 600 or not ?? pls suggest expert
N
nsr 28 Dec 2020, 23:37

are we can exit or hold for few days
N
Nitesh Jain 28 Dec 2020, 13:00

GMP antony waste
K
Kedar Shinde 28 Dec 2020, 13:00

1 jan tak 600 ka target
K
Kedar Shinde 28 Dec 2020, 13:00

550 ke andar kahrid lo
K
Kedar Shinde 28 Dec 2020, 12:57

bector kharid lo 560 to 570 pe... 600 jayega
S
Satyasankalp 28 Dec 2020, 11:48

ha
N
nil gohel 28 Dec 2020, 11:26

hold kare ke becha de plase
I
IPO Guru 28 Dec 2020, 09:51

@Sahid, we don't see much upside if market remain on this level.
K
Kedar Shinde 27 Dec 2020, 17:51

if Monday price above 650 or 650++ then book profit
S
sahid 27 Dec 2020, 16:42

guru ji Monday ko sell kardu ke kya kare please suggest ...
I
IPO Guru 27 Dec 2020, 15:59

@Mihit, our research team is working for medium to long term analysis, so we are not able to give short term move.
M
Mihit 27 Dec 2020, 15:40

@IPO Guru, what are the odds that Mrs Bectors stock will go on upper circuit on Monday?

Open Date	Dec 15, 2020
Close Date	Dec 17, 2020
Allotment Date	Dec 23, 2020
Listing Date	Dec 24, 2020
Face Value	₹ 10 Per Equity Share
Issue Price	₹ 286 to ₹ 288 Per Equity Share
Issue Size	Total Equity Shares of 1,87,68,749 with aggregating up to Rs 540.54/- Cr Fresh Issue of Up to 14,07,638 with aggregating up to Rs 40.54/- Cr Offer for sale Up to 1,73,61,111 with aggregating up to Rs 500/- Cr
Retail Min Lot	1 Lot (50 Shares - ₹ 14,400)
Registrar	Link Intime India Private Limited
Lead Manager	ICICI Securities Limited, IIFL Holdings Limited, SBI Capital Markets Limited

Company	P/B Ratio	P/E Ratio	RoNW	Total Revenue (Cr)
Mrs. Bectors Food Specialities Limited Current	4.61	56.85	9.52%	764.97
Nestle India Limited	77.86	85.63	90.93%	1,26,15.78
Britannia Industries Limited	36.18	52.27	69.22%	11,878.95
Prataap Snacks Limited	2.65	111.76	2.37%	1,402.99
DFM Foods Limited	11.98	97.65	12.26%	514.72

Mrs. Bectors Food Specialities Limited

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