Just looking at Financials ( 3 years including this year) you can skip this IPO. Also due to Corona you are not sure of margins and profitability in next 1 year. So take your call wisely.
19.1. arunARUN| Link| Bookmark|
March 18, 2021 8:54:54 PM
IPO Guru (1800+ Posts, 1600+ Likes)
i agree. Sit down places have a limited people serving. In 8 hour they can at max serve 3 rounds given pricing system of Barbeque i.e. eat what you want for fixed price The focus is very high on Non Veg and society does have some issue with that post covid
Bcoz he wants the results to look very good and help the company get over subscription as the results for past 3 financial years are not that good and even posted losses.
1. The company has posted a 27.67% CAGR in revenues during FY 2013-17. 2. The company has posted a 38.45% CAGR in PAT during FY13-17. 3. The company has posted an consolidated EPS of 3.8 in FY17. 4. The D/E stands at 0.35 which is quite manageable. After IPO company would become debt free. 5. The company has close to 2.7024 Cr shares as on FY17. So if we give Unlisted Price of 850 to Barbeque Nation the Mcap comes out to be 2300 Cr. 6. Mcap/Sales= 4.57 7. Price/Book Value= 15
17.1. arunARUN| Link| Bookmark|
March 18, 2021 6:44:25 PM
IPO Guru (1800+ Posts, 1600+ Likes)
Why are you even looking at FY 17 data when latest data is available at SEBI website upto 30th Nov 2020
1. The revenue has increased from 707 Crores to 790 Crores in FY19-20. This shows that revenue has increased by 11.7%. 2. The EBITDA was down from 165 Crores to 159 Crores due to higher Employee benefit expenses and other expenses. 3. Due to lower EBITDA and higher finance costs, Barbeque Nation has shown negative PAT in FY19-20. 4. In FY19-20, total debt has increased from 76 Crores to 164 Crores. The Net-worth of Barbeque Nation in FY19-20 is 75 Crores, So D/E = 0.45x. 5. During the year Barbeque Nation has opened 21 stores in India and the cumulative number of stores/outlets of the Company as at the end of FY 2020 is 148 (including 1 outlet for UBQ, a delivery and takeaway business unit of the Company. 6. During the year Barbeque Nation has started takeaway and delivery business model, the company has established a new brand called ‘Barbeque in a Box’ to provide a barbeque experience to the customers at their door step, in addition to the existing delivery business brand ‘UBQ’.
15.1. arunARUN| Link| Bookmark|
March 18, 2021 6:41:50 PM
IPO Guru (1800+ Posts, 1600+ Likes)
i dont know how you got debt equity ratio of 0.45 When debt is 164 crore and networth is 75 crore It is risking on border and add burden of FY 21 due to Covid. Balance sheet will be full of holes
The way we are moving towards in time with rising disposable income everyone wants good delicious food, spent time with dear and near ones, get relax from work but not worrying to shed out that extra from pocket which will be the key to success for these Restaurant Chains in future. You go out in these restaurants and try to find seats without waiting. If you get one, you are lucky but this is quite rare.This shows the revenue visibility of these Restaurant Chains in India if managed and expanded well. The margins in the food service is huge which is another big positive for these companies. Today we have the largest youth population in the world. As per survey, the age group between 20-35 is highest in the world. The youth love to party and dining out and if they get places like Barbeque Nation which serve hot and delicious the future looks very bright for such restaurant chains.
Also, how much is the debt? As one of the objective is "To make prepayment/repayment of all or a part of the company''s outstanding borrowings availed on a consolidated basis.".
PS: I am a regular/loyal customer of this brand :)
9. PearlRohit| Link| Bookmark|
March 18, 2021 11:47:33 AM
Top Contributor (200+ Posts, 100+ Likes)
Promoter of Barbeque Nation Hospitality Parent Company Sayaji Hotel. Fin. Year 2019-20 Rs. 1.80 Cr. Loss & Financial Year 2020-21 3 Quarter Net Loss Rs. 15.88 Cr. and and and Rs. 139.90 Cr Promoter Holding under Pledge. so Be Careful This Barbeque Nation IPO before Investment or Apply IPO
8. SHANI| Link| Bookmark|
March 18, 2021 11:30:27 AM
(300+ Posts, 300+ Likes)
Good one
7. P Patel| Link| Bookmark|
March 18, 2021 10:55:40 AM
IPO Mentor (900+ Posts, 900+ Likes)
Buy Sayaji hotels parent company of Barbaque nations..success of this ipo will be reflect in price of sayaji hotel...it''s T grp company and 5% circuit filter.once date and price announced this sayaji hotel would have continuous upper circuit.
Retail Portion The portion of the Offer being not less than 35% of the Net Offer consisting of [●] Equity Shares which shall be available for allocation to Retail Individual Bidders in accordance with the SEBI ICDR Regulations subject to valid Bids being received at or above the Offer Price
Private equity firm CX Partners-backed casual dining restaurant chain Barbeque Nation Hospitality Ltd has raised Rs 80-90 crore in a pre-IPO placement from Alchemy Capital Management, an investment firm co-founded by ace stock market investor Rakesh Jhunjhunwala in 2017. As per sources, the Pre-IPO placement was done at 2300-2400 Cr Valuation. So with an Equity of 2.7 Cr in FY17, the Pre-IPO placement would have done at Rs. 890 per share at least