Midfield Industries-IPO Note - ANS Pvt. Ltd.

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FINANCIAL HIGHLIGHTS1. Weighted average earning per share2. P/E ratio and comparison to its peersSource: RHP
RECOMMENDATIONSThe company is trading at P/E of 12.88 times the lower price band of Rs.126 andat 13.60 times the upper price band of Rs.133.Post IPO the PE ratio stands at20.21X the lower price band and 21.33X the upper price band. The company istrading well above the industry PE ratio. So even after factoring the company’sgrowth potential the valuation looks expensive. The company has failed tomanage is working capital efficiently and the company has defaulted on the Sixinstallments due to S E Investments Ltd.Also according to the porter’s factor the company’s buyer are relatively smalland hence the bargaining power of buyers is very high.Keeping this in mind we recommend a “AVOID” for this IPO.Disclaimer: The information being provided to you is compiled from sources we believe to be reliable. ANS Pvt. Ltd cannot and does not take anyguarantees about the accuracy, reliability, validity or timeliness of the information and/or data provided/made available to you in this document.The views are purely indicative. Neither ANSPL nor any of its associates, subsidiaries, affiliates, directors, and/or officials become liable or have anykind of responsibility for any loss or damage that you may incur from any decisions taken by you based on our recommendations. None of theinformation contained herein constitutes a solicitation from ANSPL to Buy and/or Sell securities and/or any Future, Options or Other FinancialContracts. Clients may exercise their own caution and double check or verify the information contained in our recommendations.
Page 2 and 3: Issue DetailsSectorIndustry-Packagi
Page 4 and 5: INDUSTRY OUTLOOKIndian Packaging In
Page 6 and 7: POSITIVES AND CONCERNS ABOUT THE CO

Midfield Industries-IPO Note - ANS Pvt. Ltd.

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