Retina Paints Limited IPO Message Board (Page 4)

Red tape shares credited in demat
For those who holding mirza international

@Admin @ Team Chittorgarh.com Dear team ,can u post & highlight companies Quarter results information in this Forum? Definitely it wil help all ,Thanks

Peers are Asian Paint, Burger paints etc... presently this sector is under pressure due to increase in interest rate... seems to remain in this state for a year or so.

LM performance is also not impressive. Will give a miss if overall subscription is less than 10x

SME sentiment is positive now... May cross 10x subscription figure on last day

Better to avoid this low rated IPO. No charm in it

DRHP Readings
Cost of materials has gone down from 65% to 44%, page 47 of DRHP. Wonder how they managed it when big players cannot do it.
MD and WTD combined salary would Rs 84 lacs per annum which would be more than PAT of 19-20 to 21-22
Company has Rs 206 lacs in current account. Why would any SME keep such large amount in current account ?
Advance to others has gone up from Rs 2.7 lacs to Rs 41.6 lacs ?

First look shaky financials, low margins, no clear vision of expansion other than jumlas, no significant market share even locally and talking of expanding to whole country. Market commanded by big players and multiple regional players. Won't be easy to crack without a proper plan which doesn't seem to exist in its documents....they don't need money to expand but for working capital requirements...obviously debts have started hurting.
Lower revenue yielding 4 time profit in nov 2022... Seems they found Aladin ka chirag. Stagnant revenues in previous years while borrowings have risen. Demanding 30 Rs premium per share seems absurd. They should first prove they are worth even at par price . No reason to apply here for me till now.... SME IPOs run majorly depending on GMPs rather than fundamentals....so let's see.
Not an expert so no recommendations for otgers. Please do your own research to decide for yourself.

Sector is very crowdy and competitive.
Very less chances of multifold growth.

Looks bit high valuations

Quality and pricing of recent SMEs has spoiled the mood of investors. Despite so many poor listings, promoters are not controlling their greed due to which, investors are forced to ignore SMEs now. This is definitely the best strategy for the time being.

@Imhilli 
Anything in your radar?

There are many which are fundamentally strong and presently corrected 20% or more from the peak temporarily due to some or other reason. I like Infosys, TCS, TISCO, RIL, Tech Mahindra, VIP industries, Bajaj Finance....

Gretex is chor lm
They get discount ipo stay away sell n apply...
So avoid...
It will be available at 50% discount on listing
So sell apply

Looter coming again

very bad company gretex default....Sudarshan great discounts regen bad list made loss
chor lm
so avoid
next usk

retail warn

Profit margin is very feeble during 2020 and 2021. All the figures suddenly jumped in Nov 2022 which raises the eyebrows. Past performance of the lead manager is mixed. I will invest if total figure of subscription during last day by 2pm is more than 5x.

73->58 within 1 month, Sudarsan Pharma, LM’s last SME IPO.
Aage aap khud samjhdaar hain.. 😂😂

Low Margin Business
Big companies already present in the sector.
LM record is poor.
All reasons to avoid the issue.

19-23

High valuation, high borrowing, profit margin low

Artificial painted data . Borrowing/debt always nagative. Can see after listing