Ranjeet Mechatronics Limited

LISTED

SME IPO · IPO Guide

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Issue Price

₹25

Listed On

26 Sep 2018

Listing Price

₹27.50 (+10.00%)

Current Price LIVE

₹27.50 (+10.00%)

🧮

Lot Size Calculator

Application	Lots	Shares	Amount
Retail	2	12,000	₹3,00,000
HNI Min	3	18,000	₹4,50,000

Company has shown zig-zag financials, RoNW is 30.10% and issue is priced at P/E is 18 which looks fully priced. Sudden jump in bottom-lines in last two years with decline in top-line raises questions. For BRLM, this is 1st IPO. So we give NEUTRAL rating to this SME IPO.

Started in 1949, Ranjeet Mechatronics Limited is Ahmedabad - Gujarat based company engaged in business of providing specialised firefighting solutions as a system integrator. Company's expertise is to provide end to end solution in the installation, designing, commission, testing, implementation, management and operational support for technology - based security and fire solutions. In the year 2009, as per government rules and regulations in high rise buildings, malls and industries fire pumps and fire engines were mandatory to be installed for public safety. RML has been awarded the distributorship of fire pumps & fire engines of Kirloskar. In the year 2010, company has also tied up with Mather and Platt Pumps Limited for distribution of various customized and engineered pumps, motors and accessories. Some of the projects completed by the company are1. Chennai Metro Rail Pump House2. Goa Shipyard Modernisation Project Phase- 3A3. Medical College Sola, Ahmedabad4. Kalpana Chawla Government Medical, College, Karnal Haryana5. Vardhaman Institute of Medical Science (VIMS) Project The company has 27 employees on its payroll. As per financial performance, company has posted total income/net profits of Rs. 10.90 cr. / Rs. 0.03 cr. (FY14), Rs. 24.00 cr. / Rs. 0.05 cr. (FY15), Rs. 25.29 cr. / Rs. 0.16 cr. (FY16), Rs. 17.64 cr. / Rs. 0.51 cr. (FY17) and Rs. 18.04 cr. / Rs. 0.91 cr. (FY18). So in FY17 and FY18 top-line has been lower, but surprisingly bottom-line increased significantly. For last three fiscals it has posted an average EPS of Rs. 1.58 and an average RoNW of 30.10%. Issue is priced at a P/BV of 1.63 on the basis of post issue NAV of Rs. 15.37. If we consider latest earnings and attribute it on fully diluted equity post issue, then asking price is at a P/E of around 18 plus. Thus issue is fully priced and listed peer company Nitin Fire is trading at negative P/E as per RHP. On BRLM's front, for Beeline Broking Limited this 1st SME IPO. Company has shown zig-zag financials, RoNW is 30.10% and issue is priced at P/E is 18 which looks fully priced. Sudden jump in bottom-lines in last two years with decline in top-line raises questions. For BRLM, this is 1st IPO. So we give NEUTRAL rating to this SME IPO.

Fresh Issue

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Net Incremental Working Capital Requirement.General Corporate Purpose.
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Net Incremental Working Capital Requirement.
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General Corporate Purpose.
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All matter published here is purely for educational and information purposes only and under no circumstances should be used for making investment decision
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Readers must consult a qualified financial advisor prior to making any actual investment decisions, based on information published on this applicatio
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With entry barriers, SEBI wants only well informed investors to participate is such SME offer
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With crazy recent listings, SME IPOs have started drawing attention of investors across the boar
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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
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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

50 Comments

S
Sanjay Agarwal 17 Nov 2018, 18:05

9831zero 6646zero Message me on my number to get joined in watsapp group of Equity Updates, for general discussions.
Y
Yogesh 05 Oct 2018, 01:27

why its not moving up?
N
NAVIN 01 Oct 2018, 22:49

Ranjeet me 27 pe entry le skte he kya ?
Y
Yogesh 25 Sep 2018, 17:36

all bank unblock
R
Rakesh 25 Sep 2018, 13:01

cbi unblocck
Y
Yogesh 25 Sep 2018, 12:19

sbi hold
Y
Yogesh 25 Sep 2018, 12:19

axies unblock
R
Rakesh 25 Sep 2018, 10:56

Amount Unblocked
J
jignesh 25 Sep 2018, 10:01

amount still block
R
Rakesh 24 Sep 2018, 22:41

tomoro
B
bala 24 Sep 2018, 22:41

when refund will get back
N
Nalin shah 24 Sep 2018, 15:37

fund is still blocked
Y
Yogesh 24 Sep 2018, 13:08

12000
A
Anand 23 Sep 2018, 18:34

If there is no allotment will the amount get unblocked
N
Nalin shah 23 Sep 2018, 11:22

0/5
R
Rakesh 23 Sep 2018, 11:21

my friend alloted 1/1
R
Rakesh 23 Sep 2018, 10:18

1/0 Bad luck again and again...
C
Chirag 23 Sep 2018, 09:10

c.a. Bhai ke alawa Kisi ko allot nhi huya
A
aj 23 Sep 2018, 08:21

6/0
C
C.A 23 Sep 2018, 07:35

2/1
C
chirag 23 Sep 2018, 03:55

allotment ho gaya dosto dekh lo kis ko laga
R
Rakesh 22 Sep 2018, 23:34

2/0
C
Chirag 22 Sep 2018, 21:47

Subject to last rate
C
Chirag 22 Sep 2018, 21:46

28/0
S
s p 22 Sep 2018, 21:26

15/0
D
DIpesh 22 Sep 2018, 20:37

0/9
P
Pratik 22 Sep 2018, 20:27

0/11
Y
Yogesh 22 Sep 2018, 20:18

0/4
C
Chirag 22 Sep 2018, 20:13

market vaise abhi Sahi Nahi hai
C
Chirag 22 Sep 2018, 20:13

hard luck
C
Chirag 22 Sep 2018, 20:12

0/2
R
Rakesh 22 Sep 2018, 12:44

chitodgadha me 21 ko alloment dikharahahe
C
C.A 22 Sep 2018, 12:43

yaha sub ulta bola jata hi
R
Rakesh 22 Sep 2018, 12:37

ok
D
DIpesh 22 Sep 2018, 12:37

24
R
Rakesh 22 Sep 2018, 12:37

alloment kab he?
N
Nalin shah 22 Sep 2018, 12:31

@guru..jo subscribe karne ke liye tha (powerful technology trading at 29against 45) or jo neutral bola vo chalta he( dangi dum 182 against 74)
C
Chirag 22 Sep 2018, 12:29

kal ke jhatke ke BAAD GMP m considerable downfall aa gya Hoga, new GMP please??
P
Prakash 21 Sep 2018, 23:51

allotment aj he kya guru reply....???
N
Nalin shah 21 Sep 2018, 13:53

go to chittorgarh .com for gmp..
C
Chirag 20 Sep 2018, 13:32

Please gre market report
C
chirag 19 Sep 2018, 22:53

hahahahahhaha
C
Chirag 19 Sep 2018, 22:52

mujhe aisa lgta h ki is forum pr mostly Chirag naam waale hi aate Hain
V
vijay 19 Sep 2018, 11:40

please update latest GMP guru ji
C
Chirag Jobanputra 18 Sep 2018, 13:53

Dangee dums Ka baap niklega final hold till 50.
D
DIPAK 17 Sep 2018, 23:45

double hoga or usse jyada bhi only buyers for 20 days or more....
H
Haresh Katudiya 17 Sep 2018, 19:49

Dan gee dum ka bap Banega
C
C.A 17 Sep 2018, 19:39

book only 100000 profit
C
chirag 17 Sep 2018, 19:21

yes
B
bhavdip Kotecha 17 Sep 2018, 18:56

jo bahut lucky hoga use.milega

As on Date	Combined (QIB + NII)	RII	Total
Shares Offered / Reserved	8,52,000	8,52,000	17,04,000
Day 1 12-09-18	75,00,000 (8.80)	19,14,000 (2.25)	94,14,000 (5.52)
Day 2 14-09-18	75,24,000 (8.83)	41,94,000 (4.92)	1,17,24,000 (6.88)
Day 3 17-09-18	6,60,12,000 (77.48)	5,28,48,000 (62.03)	11,88,60,000 (69.75)

Period	Total Income	Total Expenses	Profit After Tax (PAT)
FY 18	18.04	16.69	0.91
FY 17	17.64	16.88	0.51
FY 16	25.29	25.05	0.16
FY 15	24.00	23.91	0.05
FY 14	10.90	10.85	0.03

Open Date	Sep 12, 2018
Close Date	Sep 17, 2018
Allotment Date	Sep 24, 2018
Listing Date	Sep 26, 2018
Face Value	₹ 10 Per Equity Share
Issue Price	₹ 25 Per Equity Share
Issue Size	Fresh Issue of Up to 18,00,000 with aggregating up to Rs 4.5/- Cr
Retail Min Lot	1 Lot (6,000 Shares - ₹ 1,50,000)
Lead Manager	Beeline Capital Advisors Private Limited

Ranjeet Mechatronics Limited

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