[Dilip Davda] The company is a niche player in its segment and enjoys virtual monopoly. It posted steady growth in its top line for the reported periods. Drastic fall in bottom line for FY23 is attributed to one-time adjustments as per new accounting norms. Based on FY24 annualized earnings, the issue appears fully priced. Considering bright prospects, it’s a worthy bet. Investors may park funds for the medium to long-term rewards. Read detail review...

Azad Engineering IPO Peer Comparison

Azad Engineering Limited peer comparison with similar listed entities. (As on March 31, 2023)

Company Name	EPS (Basic)	EPS (Diluted)	NAV (per share) (Rs)	P/E (x)	RoNW (%)	Financial statements
Azad Engineering Limited	1.79	1.79	42.30		4.23	Consolidated
MTAR Technologies Limited	33.62	33.62	201.13	67.85	16.72	Consolidated
Paras Defence and Space Technologies Limited	9.25	9.25	10.60	77.50	8.69	Consolidated
Dynamatic Technologies Limited	67.32	67.32	79.47	88.73	7.93	Consolidated
Triveni Turbine Limited	5.97	5.97	23.83	75.64	25.47	Consolidated

Notes:

All the financial information for listed industry peers mentioned above is on an audited consolidated basis and sourced from the audited financial statements of the relevant companies for Fiscal 2023, as available on the websites of the Stock Exchanges.
The basic and diluted Earnings per Equity Share for the year presented for Azad Engineering Limited have been calculated/restated after considering the share split and bonus issue subsequent to June 30, 2023.
Basic and diluted EPS refers to the Basic and diluted EPS sourced from the publicly available financial results of the respective company for Fiscal 2023.
P/E Ratio has been computed based on the closing market price (December 12, 2023) of equity shares on BSE, divided by the Diluted EPS provided under Note (3) above.
Return on Net worth (%) = Profit for the year / Net Worth at the end of the year.
Net Asset Value per Equity Share (in ₹) = Net worth at the end of the year / Weighted number of equity shares outstanding at the end of the year.

Azad Engineering IPO Review by Members

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