Commercial Syn Bags Ltd IPO Message Board (Page 5)

saiteja gm
9. saiteja gm |   Link | Jul 4, 2016 2:15:44 AM
i''ve looked all round the web and no brokerage has posted a review on this ipo.
here are some interesting things:

1)post dilution p/e is 5.3 where as the industry p/e is 24+

2)post dilution debt to equity ratio will be .85 where as the entire industry is working capital oriented and most of the peers d/e ratio more than 1. so, comparitively comsyn looks attractive.

3)return on net worth (ronw) is 22% where as the industry average is around 11%.

4)companies top line and bottom line grew continously over the past 5 years. and the demand in packing industry and the companies past performance looks promising.

5) proceedings of the ipo are going to reduce the long term loans and this will add around 30-35 lak interest cost to bottom line.

6) most importantly, company is not gonna raise any debt for the next financial year and the entire working capital required (8.21cr) is gonna raised by internal acturials(i.e onbooks cash) and ipo proceedings.

7)company is optimistic about 20% revenue growth in this financial year, this is reflected in the expected working capital requirement table in the dhrp.

8) one of the closest comparable peer is emmbi industries. emmbi industries is commanding a market cap of 200cr with a revenue of 200cr net profit of around 10cr.. in syncom, we are getting it at 28cr market cap with 115cr revenues and a net profit of around 5.3cr (this is gonna increase as they are gonna reduce 4cr long term loan)

9) as one of our friend aman mentioned, Inventory days
31.03.15 : 59 days
31.12.15 : 65 days

Receivables days
31.03.15 : 49 days
31.12.15 : 52 days

looks decent. and the average receivable and payables percentage looks good for the past 5 years too.

10)company is adding many products into its portfolio and the past performance looks good.

11)company is gaining decent amount on forex conversion of foreign currency into inr as it has decent exports(even in this slow global growth period).

12)it has CARG of 20+ and such high growth companies in the high growth industry is available at a dead cheap p/e of 3.88 post dilution around 5.

i think its a seal and must apply ipo at this price.
9.3. Aman |   Link | Jul 4, 2016 10:41:30 PM
Regarding Other Expenses
out of Other Expenses of Rs. 23.66 Crores , Rs. 4.37 Crores represents power and fuel expenses, Rs. 7.98 Crores as Bag stiching Job Work), Rs. 1.59 Crores as Repair and Maintenance of P&M. these all are genuine expenses , considering highly Capital Intensive business model, all are justified expenses.
I am not advocating this IPO but it have the potential of give enormous return to investor in short as well as medium terms.
9.4. satya |   Link | Jul 5, 2016 1:16:09 PM
Thanks Aman...
8. NKD |   Link | Jul 2, 2016 10:11:05 PM
Jonam Ji please share your valuable thought on commercial syn. And advance syntex..
8.17. niceplaywins |   Link | Jul 3, 2016 6:32:31 PM
for me its giving me two account option one is my saving account number and one is my od account number
8.18. niceplaywins |   Link | Jul 3, 2016 6:54:15 PM
jonam sir sent you the mail please check
7. atul |   Link | Jul 2, 2016 10:09:49 PM
Top Contributor Top Contributor (200+ Posts)
Jonam please comment
I think it is reasonable. Out of all sme ipo
Titanium ten bogus
Kwality ph high valued
Comsysn ok
6. sureshkvl |   Link | Jul 2, 2016 8:53:22 AM
How the SME allotment happens? Is it similar to Mainstream IPO(current method) or proportionate basis and lottery(previous method)?
5. Jasraj |   Link | Jul 1, 2016 2:06:37 PM
I am new to the SME IPOs though i invest in NSE/BSE Ipos ..

Your help on the following doubts would be highly appreciated -
1. How do we apply for SME Ipos
2. Incase of over subscription, how is the allotment done?
3. Where can we see the subscription figures for these ?

5.2. Manipo |   Link | Jul 1, 2016 5:01:23 PM
Top Contributor Top Contributor (200+ Posts)
Actually this is the correct link for commercial synbags
5.3. Manipo |   Link | Jul 1, 2016 5:04:27 PM
Top Contributor Top Contributor (200+ Posts)
Also talk to your broker if they allow you to buy/sell using their trading platform or not. I faced a lot of problems in this regard.

in case of more queries you can contact me on m email id manipoindia at gmail dot com

Sometimes queries get skipped from me on chittorgarh forum.
4. ARUNAM |   Link | Jun 30, 2016 6:46:08 PM
Please suggest, can we apply ?
4.1. namra |   Link | Jul 2, 2016 4:27:17 PM
No never
3. HG |   Link | Jun 30, 2016 11:50:45 AM
Septa sir,

should we apply for this ips or not, your thoughts are more valuable for investors like us.
also provide the allocation and listing dates of all SME IPO.

2. Aman |   Link | Jun 29, 2016 11:08:55 PM
Septa sir,
What is ur view on comsyn IPO. It is having PE of 5 only.

Shall this repeat Sysco like success?
2.8. niceplaywins |   Link | Jul 3, 2016 4:44:19 PM
septa sir all seniors, is there any chance of negative listing as well in this ipo , same question for advance syntex limited , & is it sometimes difficult to sell sme ipo even after good listing because of liquidity problem

Please share your valuable review
2.9. Aman |   Link | Jul 4, 2016 1:33:28 AM
there is very negligible chances of discount listing in case of CSBL
1. IPOcket |   Link | Jun 29, 2016 2:37:02 PM
Davda ji''s review says it is cheap ipo.. sbscribe or not ? any other views pls...