Patel Retail IPO Review & Recommendations

Patel Retail IPO Peer Comparison

Patel Retail Ltd. peer comparison with similar listed entities. (As on March 31, 2025)

Source: All the financial information for listed industry peers mentioned above is on a standalone basis and consolidated basis and is sourced from the filings made with stock exchanges, available on www.bseindia.com and www.nseindia.com for the Financial Year ending March 31, 2025.

Earnings / Net worth of the peer companies are negative, hence P/E ratio and Return on Net Worth has not been calculated. Recently, we have also incorporated Vishal Mega Mart Limited into our peer group company following its listing on the Stock Exchanges on December 18, 2024. This decision was made due to the similarities between certain aspects of our business and those undertaken by Vishal Mega Mart Limited.

Notes:

• Considering the nature and size of the business of our Company the peers are not strictly comparable. However, above company is included for broad comparison.
• The figures for Patel Retail Limited are based on the Restated Financial Statements for the year ended March 31, 2025.
• The figures for the peer group are for the year ended March 31, 2025 and are based on their respective financial statements filed with BSE Ltd and NSE Ltd.
• NAV is computed as the closing net worth divided by the closing outstanding number of equity shares. Net worth has been computed as the aggregate of share capital and reserves and surplus (excluding Revaluation Reserves) and as attributable to the owners of the Company.
• P/E Ratio for the peer has been computed based on the closing market price of respective equity shares as on August 05, 2025 sourced from website of Stock Exchange as divided by the Basic EPS as applicable. Aditya Marketing Consumer Limited was not traded on August 5, 2025, on the BSE Limited. Therefore, the previous date closing price is considered i.e., August 04, 2025.
• RoNW is computed as net profit after tax (excluding comprehensive income), as attributable to the owners of the Company divided by closing net worth. Net worth has been computed as the aggregate of share capital and reserves and surplus (excluding Revaluation Reserves) and as attributable to the owners of the Company.