Saakshi Medtech and Panels Limited

As per financial performance, Saakshi Medtech and Panels Limited has posted total income/net profits of Rs 60.22 Cr / Rs 2.20 Cr (FY21), Rs 91.69 Cr / Rs 9.37 Cr (FY22) and Rs 122.20 Cr / Rs 12.38 Cr (FY23), So company has shown good growth. Company has posted an average EPS of Rs 7.45/-  and average RoNW of 26.87% for last three fiscals. Issue is priced at a P/BV of 2.99 as per NAV of Rs 32.49/- as on  31.03.23.  As per  FY22 earnings on fully diluted equity post issue, asking price is at P/E of around  18.27 and as per FY23 earnings P/E  is 13.83. As per RHP, there are on peers. On  BRLM's  front, Hem Securities Limited is  associated with this SME IPO and  handled  27  SME  IPOs  in  last  3  years.  From  last 10 IPOs, all opened above issue price or at par on the listing day. As of now from last 10 IPOs, all are trading above issue price. ( As on 22.09.23 ) As per financials, Saakshi Medtech and Panels Limited has shown good results, RoNW is 29.32% and P/E is respectively 18.27 and 13.83 as per FY22 and FY23 earnings. So, issue looks fairly priced. Company is in business of designing, programming, and assembling of Electrical Control Panels and Cabinets comprising microcontrollers, programmable logic controllers, and SCADA systems. Performance of BRLM is good. So we are giving SUBSCRIBE rating to this SME IPO. Readers must consult a qualified financial advisor prior to making any actual investment decisions.

• 1  Aniket Vijay Latkar
• 2  Chitra Vijay Latkar