Flair Writing Industries IPO Review & Recommendations

Flair Writing IPO Peer Comparison

Flair Writing Industries Limited peer comparison with similar listed entities. (As on March 31, 2023)

Notes:

1. All the financial information for the listed industry peers mentioned above is on a consolidated basis.

2. P/E ratio is calculated as the closing share price as on July 12, 2023, divided by the diluted EPS for the year ended March 31, 2023.

3. Diluted EPS refers to the diluted EPS sourced from the financial statements of the respective peer group companies for the Financial Year ended March 31, 2023.

4. NAV per Equity Share represents total equity attributable to the equity shareholders as of the end of the Financial Year divided by the number of Equity Shares outstanding at the end of the year. Sub-division of Equity Shares is retrospectively considered for the computation of NAV per share for all periods presented.

5. RoNW is computed as consolidated profit after tax for the year as a percentage of the average of closing Net Worth during that year and the previous year.

6. Financial information of Flair Writing Industries Limited is derived from the Restated Consolidated Financial Information as of and for the Financial Year 2023