Platinumone Business Services Limited

PlatinumOne Business Services Limited, is Thane - Maharashtra based company, engaged in the business of providing Business Process Management Services. Company has focused on special area in BPMS which is Customer Acquisition. They provide services to mid-size and large corporates to fulfil their Customer Acquisition needs. They provide services in various industries namely FMCG, Real Estate, Furniture, Insurance, Consumer Durables etc. PlatinumOne provides processes like Lead Conversion, Customer Care, Channel Management, Lead Generation and Loyalty Program being delivered through their Call Centres. Additionally, Sales Enablement as a service delivered through a Team of Domain Experts empowering Sales Partners face to face or digitally. They have a dedicated team of professionals comprising of experienced personnel in every Industry. Some of their clients are Godrej Properties, Godrej Interio, Edelweiss Tokio Life, Tally, Lodha Group, Hafele, Reliance Nippon, Capital foods. They provide them with services like Lead Conversion, Customer Care, Channel Management, Lead Generation and Loyalty Program being delivered through the Call Centres. As on the date of this Prospectus, company has 421 employees on payroll. PlatinumOne  Business Service Limited has posted turnover/net profits (loss) of Rs.18.39 Cr. / 1.75 Cr. (FY19), Rs. 26.18 Cr. / 2.04 Cr. (FY20), Rs 20.20 Cr. / Rs. 1.07 Cr. (FY21). So company has shown zig-zag results and its due to current pandemic situation. For the last three years, company has posted average EPS of Rs. 13.03 and RoNW of 29.15%. The issue is priced at a P/BV of 1.40 based on its NAVs of Rs. 65.99 post issue. As per FY20 earnings and on post issue equity, IPO is valued at P/E of around 7 and for FY21 PE of around 13.5 which looks fully priced. Comparison between listed peers is shown in above table, but they are not strictly comparable. On BRLM's front, GRETEX CORPORATE SERVICES LIMITED associated with this SME IPO and handled 12 IPOs in last 3 years. From last 10 IPOs, one opened below issue price and remaining above issue price. As of now from 10 IPOs, two are trading below and remaining are trading above issue price or at par. ( As on 01.09.21 )   For PlatinumOne Business Services  Limited, financials are zigzag, RoNW is 16.41%, P/E is around 13.5 for FY21. So issue looks fairly priced. BPMS (BPO/KPO) sector has huge growth opportunities, but it's highly competitive sector. Performance of BRLM is average. So we give NEUTRAL rating to this SME IPO.

• 1 Platinum Power Wealth Advisors Private Limited
• 2 Mrs. Amey Narendra Saxena
• 3 Mr. Ratul Lahiri
• 4 Mr. Vivek Yogendra Kumar