Subscribe to ARSS Infrastructure IPO: HEM Securities
HEM Securities has advised investors to subscribe to ARSS Infrastructure IPO.
By ET Bureau |
MUMBAI: HEM Securities has advised investors to subscribe to ARSS Infrastructure IPO.
"ARSS Infrastructure is bringing the issue at price band of Rs 410-450 per share which will turn into p/e multiple of 9.11-10.00 at post issue (at higher band of Rs 450/share) annualised EPS of Rs 45 per share.
“The company has posted robust financial growth in the past few years. The company's topline, EBIDTA and bottomline grew at a CAGR of more than 100% from FY05 to FY09.
“Even at the net profit margin front, the company has outperformed by posting the NPM of more than 8 per cent in FY09. With the robust order book and strong growth plans, the company seems to be reasonably priced at the current level. Hence, we recommend investors to subscribe to the issue," the note said.
"ARSS Infrastructure is bringing the issue at price band of Rs 410-450 per share which will turn into p/e multiple of 9.11-10.00 at post issue (at higher band of Rs 450/share) annualised EPS of Rs 45 per share.
“The company has posted robust financial growth in the past few years. The company's topline, EBIDTA and bottomline grew at a CAGR of more than 100% from FY05 to FY09.
“Even at the net profit margin front, the company has outperformed by posting the NPM of more than 8 per cent in FY09. With the robust order book and strong growth plans, the company seems to be reasonably priced at the current level. Hence, we recommend investors to subscribe to the issue," the note said.
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