[Dilip Davda] PRSL is manufacturing and supplying SS Pipes and Tubers. It is also trading in SS Coils, strips, sheets, plates and bars. The company posted steady growth in its top and bottom lines for the reported periods. Based on recent financial performance, the issue appears fully priced. Small paid-up equity post-IPO indicates longer gestation period for migration. Well-informed investors may park moderate funds for long term. Read detail review...

PS Raj Steels IPO Peer Comparison

PS Raj Steels Limited peer comparison with similar listed entities. (As on March 28, 2024)

Company Name	EPS (Basic)	EPS (Diluted)	NAV (per share) (Rs)	P/E (x)	RoNW (%)	P/BV Ratio	Financial statements
PS Raj Steels Limited	11.53	11.53	55.45		20.79	2.55
Remi Edelstahl Tubulars Limited	1.26	1.26	39.57	79.37	3.2	1.77	Consolidated
Venus Pipes & Tubes Limited	42.36	42.36	200.09	31.82	21.17	9.46	Consolidated
Suraj Ltd.	11.9	11.9	66.68	34.45	17.84	3.3	Consolidated

Note:

The peer group figures are based on audited consolidated financials as of and for the year ended March 31, 2024.
P/E figures for the peer is computed based on closing market price as on February 01, 2025, of relevant peer companies as available at BSE, (available at www.bseindia.com) divided by Basic EPS for FY 2024 reported in the filings made with stock exchanges.
Based on the Issue Price to be determined on the conclusion of the book-building process and the essential EPS of the Company.
Return on net worth (%) = Net profit after tax * 100 / Net worth at the end of the year
Net Asset value per share = Net worth at the end of the year / No. of shares outstanding at the end of year.

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