Sirca Paints India Limited IPO Message Board (Page 6)

1- Kansai Nerolac CEO said last week that the Paint industry will grow at Double Digits for next 30 years.
The wood coating industry of Sirca Paints is growing at 20% p.a. (The 2 main players in Wood coating are Sirca & ICA(Pidilite).
*Sirca doesnt need to do much. The industry itself is growing so fast. Its a sunrise industry.

2- Sirca is virtually a debt free company since inception about 11 years ago. Promoter is honest. ROCE is 50%+. Opportunity size is immense.

3- They are raising IPO funds to set up a big Manufacturing plant in Haryana which will be used to supply all over India and also Bangladesh, Srilanka & Nepal which are big markets.

4- Sirca does NOT compete with Asian Paints, Nerolac, Akzo Nobel etc. Sirca is only present in Niche wood coating & metal coating segments where its product is most superior. (Ask anyone in furniture industry in Delhi area).
*In wall segment, no one can compete with Asian Paints. And Sirca is NOT in WALL PAINTS. Sirca products go on WOOD. For example - Furniture & Fittings.

5- Valuation wise - Sirca is available at 6x EV/EBIT on FY19 and about 3x FY20 numbers which is very cheap compared to peer group which trade above 40-50x valuation.

You are entitled to your views @ IPOANALYSIS but these are my views. I am happy to answer any queries that have.

*Disclaimer- I am investing in the IPO.

A big big AVOID!

3 big funds including Reliance has invested in Sirca Paints sir. Do you still think its not a good investment?

Three anchors invested in sirca-
Mauryan first,
Next orbit venture fund,
Reliance equity opportunity air fund.

Hi,

would like to know if its worth investing in Sirca IPO, my investment horizon is 5 years.

YES LANCER HAS GIVEN GOOD RETURN BUT AFTER MOVING TO MAIN BOARD, THERE R HARDLY ANY BUYER, N IT IS LOOKING QUITE WEAK

weak hands will move out it will start to rise again.liquidity will rise soon

navigant performance of recent listing today

1)dr lal chandani - review given low p/e good finanical issued at 30 now at 27
today down and hit lower circuit

2) power and instrumentaion good excellent review - issued at 33 rs now 26 rs

3(continental seeds- issued at 26 rs now at 21 rs.

i think people are intelligent enough to know the quality of issues been bought up by Navigant

But if u have a lead manager whose last 3 issues have failed and gone down 25 pc even when other sme are doing well then there is definitely problem with lead manager. See dhruv listed well see mahickra Mac power or even AVG and MMP . There is definitely something very wrong with navigant. Check all old sme as well .they have most pathetic record among all lead manager

SIRJI EVEN AT 24.55 NO BUYER IN Dr. LAL CHANDANI. JUST 4 Cr. ISSUE. SIRCA IS 77 Cr ISSUE AND NAVIGANT HAS TO SUPPORT IT. GOD KNOW KITANE LC MAREGA

Don't subscribe this issue because leadmanager same as Dr.Lalchandani lab. Very very poor leadmanager. All are trading in huge discount.

Its not Navigant is getting listed - Look - Sirca Paints -and business concept - and growth story -

DownriteVJ - Correct. He/She is only commenting for this IPO only.

FEW MORE DAYS - The issue opening and institutional interest will open all the blind eyes-
i track companies not lead manager, i track valuation and business model not market trends, i invest on my own - don't follow herds

Well said....
Points to be noted....

If Lead manager has no role then why all 3 Navigant issues have gone down and infact today are on lower circuit and why panthomath is doing well

so stop nonsense messages
also company is not into manufacturing and asking market cap of 200 crore for new setup
this ipo will destroy investor wealth.

fair value not more than 50 rs.

Before looking all the negative comments kindly see the promoters and the business plan and the current and the future growth story. which Company gives 30% return on capital employed on yearly basis on YOY basis. see the diluted and the current EPS and the growth of business at the @ of 20% PA on yearly basis.

Lot many company employee have come to promote company shows their desperation and faulty promises.

they dont event know Lead manager is very important for SME.
Navigant has hit hat trick of bad issues and today listing dr lalchandani has hit lower circuit.

stay away and avoid this IPO at any cost.
Fair value is not more than 50 rs

Your fair value is itself a question - Your method of calculation - can support operators not real issue - Seems you are hired here to speak against this issue - Kitne passe liye hai bhai -

I have been expressing views since sme has started.u have just come to review abt this bas issue sirca paints itself prices u r company agent. Also people don't pay to write against company but company agents like u r paid to write good reviews about bakwaas issues .so everyone knows now u r paid. Kind paise mile hai Bhai Woh bhi information share Kar do

Dear moderator please check investor xxx. He is company agent. He is calling lancer container fake which is multibagger and have given excellent returns to.investors.not to forget bonus issue this year.please get some knowledge investor XX.lancer container is from a good lm and have great growth over the years and increased investor wealth whereas sirca will be wealth destroyer for investor. Current market price is 105 for lancer .let's.check price after few days to shut it mouth.

Prices are manupulative - and valuation methods are subjective - Stop complaining like kids, all are here to express views - Whether to take or not is own will - You are acting as hired agent, rather calling me agent of Company - Look yourself promoting operator stocks

The capex planned is going to add in topline only in 2020-21. Till then result will be like previous years only. Discount the superlative result of FY 2018. Hence, an Investor will get opportunity to buy the shares in secondary market at below IPO Price.

भाईजी और navigant मोटा फीस लेके भाग जाएंगे। 150 के ऊपर जाकर 74 करोड़ के issue को support करना उनके बस का नही है। But it may happens that the company may support in secondary market like MMP Industries.

IPOANALYSIS Are you from some competetive merchant banker of Navigant??
All I have seen you post is about Navigant and not otherwise.

You need to study again - The proceeds will add new product line a part from present business and they are already growing 25% YOY b. That means once its operational - the profitability would increase immensely

Value lies when you read between the lines - Sirca Paints - has potential product and exceptional margins backed by product quality. Money is made when you see rising graph - the utilization of proceeds to be used on value basket by adding more products. The integrity of promoters and transparency on adding value to company is highly visible. However the importance of foreign partner investing and providing foreign technical know- how - would make the base for product quality comparison to present existing brands which are rolling at 50 + PE - Its dirt cheap value pick - Strong buy - for 3x multiple growth - Just available at 14 Multiple - Once the manufacturing unit is fully operational - the scrip may find multiple institutional interest - Not to the surprise - Perhaps its going to be opening success with truckloads of established mercy investor - pouring in money -with multiple subscription- Rock solid business model and trust worthy promoters - two key parameters to invest and gain - Warren Buffet - Invests in business not price and bets on management more - not on present numbers - its really a wealth stock -

SSInfra, Focus, ANI => All will do very good in long term. Can't say about short term.

SS infra angel fiber and focus all 3 good for long run. I have purchased lancer container. Buy lancer container as it's going to shift to main board son. My target for lancer is 300 in long run

Navigant Means AVOID.
Today Lalchandani which had QIBs and good Subscriptions opened at discount and closed at LC.. it should have 1-2 more LCs and then normal trading might resume..
The same story will repeat in this Sirca.
Better to avoid as this LM provides no support, what's over!

Its - very attractive value proposition - Growth Stock - Available for future generation - Must - Buy - Story -
We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful.
Price is what you pay. Value is what you get.
It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you'll do things differently.

Lead Manager is not the ingredient for IPO success - Even ICICI securities issue got resize - when valuation got expensive - Its just a mis - leading effort - And true analyst should work on business potential - IPOs are not judged the way its is framed -

LAST 3 ISSUES FROM LEAD MANAGER NAVIGANT

1)Continental seeds issued at 26 rs is now 21 rs
2) power instrumentation- got excellent reviews and available at very low p/e issued at 33 rs is now 29.50 rs

3) dr lalchandani labs listed today 30 rs issue now at 28.50 .

now just looking at track record of such small issue from navigant shows the kind of issues that lead manager is coming up with

anyone still want to loose money please invest.
I will prefer to donate instead.

guys beware if the company agent vibs
check the prospectus there is hardly any money spent on ,machinery. there is huge competition and all larger players have all india presence and this company does not have it

its a clear avoid and huge chance of stock even getting halved

i see story of sarveshwar food being repeated.
also do remember there is ahrdly anyone who know bhaijee underwriter and its first sme just like sarveshwar have first time underwriter.

so on both instance lead manager underwriter and company fundamentals its an avoid. i

Dear IPO Mentor,
Now if you have finished your flute of accusing me as a company agent, I can show you some facts.

Read the prospectus properly. The company has mentioned that they have already acquired a land of 1.75 acrs @ Sonipat for the plant . They hv not taken any loans for that.
Niw the IPO money which are being raised are used in below format.
1. Around 34 cr for plant and machinery. ( If they are going to buy a plant and machinery from IPO money, how come they hv it as uptill now they are just importer and trader of PU paints.)
2. Around 4 Cr paid to Parent company Italy as a technical fees for plant set up and technical support
3. Around 30 cr for working capital requirements.
4. Rest for the IPO expenditure and branding.

Brother one more time I hv to say that read the prospectus properly. They are not a normal paint company. They are only into business of PU Paints and they are pioneer in that segment in terms of quality.
They are not in wall paint business. Their products range can be used on wood, metal and glass. So no peer comparison. All market leaders are leaders in wall paints not in PU paints.

Yes they do not have pan India presence right now but they have started investing and appointing the dealers pan India. They recently opened their offices and appointed dealers in Gujarat, Maharashtra, Karnataka and Kolkata.

Brother talk with facts and figures and not just troll any one to prove your trumpet.

One more time I am saying I hv nothing to do with BHAIJEE nor SIRCA.

Its your money you decide weather you want to apply or not.
This platform is for sharing your views so I am doing it.
I am least concern weather you or anyone applies it or not it is my view and I am sharing.
Don't use it as a cheap platform of trolling anyone and that to without knowing the facts and figures.

If you have your views please put it. I dont have any problem but dont pin point me in your post.

Dear IPO Mentor,
It is not only a trading company but the solution provider. And they are not going to stop their imports and trading after starting the mfg. Facility as the product mixes are different. Rather they are projecting the trading bus8ness of their existing products to grow ar 30% CAGR YOY.
The products which are being imported are premium PU products and they are pioneer in the market for those products.
Now they are eyeing on mas market of economical PU( but with high end quality of Italy finish) they need to setup a mfg. Faciltiy in India, obviously for cost benefits.
It will also give them huge benefit in exporting and meeting the huge demand of their newly mfg. Products due to treaty with Shrilanka in import duties.

Yes there is a risk with a new underwriter always but brother here we are talking about fundamentals and numbers speak.

As I am new to this platform I am updating these details just for awareness else no one is going to pay me anything for it.

Its yours and every individuals own discision to apply or not as their own money are involved.

Not to forget Sirca are just traders only.
its a clear avoid. great chance stock will go down.

I hope Navigant issue have difficult subscribe this one . They are one of the worst. If you need prove check the past history they dont even have 20 pc success rate.

Vibs what is great about the company.
As far as i read its a trading company and now will start manufacture using the IPO money so isnt that highly risk

lead manager is also a contributor. also a new underwriter is always risky in sme market.

Vibs u r a company agent. There has been no message from you earlier and now u r promoting this company

people are smart enough to judge.
it is a bad ipo just like other navigant issue.

avoid

The financials of the company are quiet impressive and expect a long term gains if the company keeps their vision clear.Totally a go to apply for the same.

Fundamental analyst, if this is first issue which attracted u so much then you are not on the right track. You missed ice make, ani integrated, one point one solution, focus suite are the best sme. Even these are not crossed below their issue price.

AnkurGoel,I meant to say that this is the First SME Issue from Navigant that has attracted me very much.