Sumit Woods Limited

LISTED

SME IPO · IPO Guide

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Issue Price

₹43 – ₹45

Listed On

10 Sep 2018

Listing Price

₹47 (+4.44%)

Current Price LIVE

₹47 (+4.44%)

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Lot Size Calculator

Application	Lots	Shares	Amount
Retail (Min)	1	3,000	₹1,35,000
Retail (Max)	2	6,000	₹2,70,000
S-HNI (Min)	3	9,000	₹4,05,000
S-HNI (Max)	7	21,000	₹9,45,000
B-HNI (Min)	8	24,000	₹10,80,000

As per financials, company's performance is zigzag, RoNw is 10.67% for last three fiscal and issue is reasonably priced as per latest earnings. Company has shown unusual growth in bottom-line since FY16. Performance of BRLM is also not good. So we give NEUTRAL rating to this SME IPO as per current market situation.

Started in 1987, Mumbai based Sumit Woods Limited is a company engaged in the business of civil contractors and executed projects for Modern Bread, Railway Officers and Government Holiday Homes. The company's first project was Kandivali Mitnayan Co-Op Housing Society with a built up area of 26000 Sqft. completed in the year 2004. Since then it has completed 19 projects. In total company has completed 49 projects and 9 projects are ongoing. During 2012-17, the main business activities of the company were redevelopment of Old Buildings, (CESS Building Redevelopment / MHADA Redevelopment), and residential projects in Mumbai and Goa. Sumit Woods is a patron member of MCHI, CREDAI Mumbai. The company has handed over more than 4,500 units across 2.86 million square feet. The company has 33 permanent employees on its payroll. As per the financial performance, SWL has (on a consolidated basis) posted total turnover/net profits of Rs. 19.74 cr. / Rs. 2.72 cr. (FY14), Rs. 29.51 cr. / Rs. 0.85 cr. (FY15), Rs. 29.61 cr. / Rs. 0.75 cr. (FY16), Rs. 46.97 cr. / Rs. 3.13 cr. (FY17) and Rs. 34.33 cr. / Rs.7.75 cr. (FY18). This sudden jump in bottom lines for FY17 and FY18 is raising eyebrows. For the last three fiscals, on a consolidated basis, it has posted an average EPS of Rs. 4.67 and an average RoNW of 10.76%. The issue is priced at a P/BV of around 1 on the basis of its NAV of Rs. 45.66 as on 31.03.18 that will stand Rs. 45.48 post issue. If we take into account latest superb earnings and attribute it on fully diluted equity post issue, then asking price is at a P/E of around 9 (at upper price band) against industry average P/E of 20. So issue is attractively priced. On BRLM's front, for Mark Corporate Advisors Private Limited this is the 4th IPO and from last 3 IPOs, 1 opened at below issue price and other listed with 1% to 20% premium on the day of listing. As of now, from last 3 IPOs, all are trading below issue price. ( As on 24.08.18 ) As per financials, company's performance is zigzag, RoNw is 10.67% for last three fiscal and issue is reasonably priced as per latest earnings. Company has shown unusual growth in bottom-line since FY16. Performance of BRLM is also not good. So we give NEUTRAL rating to this SME IPO as per current market situation.

Fresh Issue

1
Meet the fund requirements for execution of our Ongoing and Forthcoming Projects and other workingcapital requirements.To repay/prepay the secured loans.Meet General Corporate Expenses.Meet Public Issue Expenses.
2
Meet the fund requirements for execution of our Ongoing and Forthcoming Projects and other workingcapital requirements.
3
To repay/prepay the secured loans.
4
Meet General Corporate Expenses.
5
Meet Public Issue Expenses.
6
All matter published here is purely for educational and information purposes only and under no circumstances should be used for making investment decision
7
Readers must consult a qualified financial advisor prior to making any actual investment decisions, based on information published on this applicatio
8
With entry barriers, SEBI wants only well informed investors to participate is such SME offer
9
With crazy recent listings, SME IPOs have started drawing attention of investors across the boar
10
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
11
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

13 Comments

I
IPO Guru 07 Sep 2018, 15:04

no premium
A
ashok 06 Sep 2018, 12:50

any primium in this sme?
M
meghal.raval98@gmail.com 31 Aug 2018, 19:16

any update
M
meghal.raval98@gmail.com 31 Aug 2018, 19:13

sumit woods??
I
IPO Guru 31 Aug 2018, 16:25

Not active in gray market.
I
IPO Guru 31 Aug 2018, 16:24

SME IPOs are risky so only for investors who could take risk. Otherwise avoid.
A
Anand 31 Aug 2018, 16:22

subscribe or not ?
A
Anand 31 Aug 2018, 16:22

what to do @ipoguru ?
B
bhavdip Kotecha 31 Aug 2018, 15:30

nii itna bhar Raha...hai....to lagta hai a6a listing hoga?????
D
dsp rathore 31 Aug 2018, 10:52

sub. 2 price
D
dsp rathore 31 Aug 2018, 08:25

no
N
NAVIN 30 Aug 2018, 23:14

kesa he ipo
A
Ambresh 30 Aug 2018, 21:50

@ipo guru can I apply this ipo

As on Date	Combined (QIB + NII)	RII	Total
Shares Offered / Reserved	19,17,000	19,17,000	38,34,000
Day 1 29-08-18	5,28,000 (0.28)	66,000 (0.03)	5,94,000 (0.15)
Day 2 30-08-18	20,10,000 (1.05)	2,16,000 (0.11)	22,26,000 (0.58)
Day 3 31-08-18	2,13,15,000 (11.12)	31,14,000 (1.62)	2,44,29,000 (6.37)

Period	Total Income	Total Expenses	Profit After Tax (PAT)
FY 18	34.33	24.20	7.75
FY 17	46.97	43.03	3.13
FY 16	29.61	28.69	0.75
FY 15	29.51	28.47	0.85
FY 14	19.74	15.80	2.72
FY 13	30.08	27.76	1.54

Open Date	Aug 29, 2018
Close Date	Aug 31, 2018
Allotment Date	Sep 06, 2018
Listing Date	Sep 10, 2018
Face Value	₹ 10 Per Equity Share
Issue Price	₹ 43 to ₹ 45 Per Equity Share
Issue Size	Fresh Issue of Up to 40,53,000 with aggregating up to Rs 18.24/- Cr
Retail Min Lot	1 Lot (3,000 Shares - ₹ 1,35,000)
Lead Manager	Mark Corporate Advisors Private Limited

Company	P/B Ratio	P/E Ratio	RoNW	Total Revenue (Cr)
Sumit Woods Limited Current	1.00	8.89	15.65%	34.33
Ashiana Housing Limited	1.97	31.01	6.37%	306.37
Arihant Superstructures Limited	2.38	21.84	9.38%	187.96

Sumit Woods Limited

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