Sirca Paints India Limited IPO Message Board (Page 7)

Its a classic case of cooked up financials to fool investors. Profit After Tax 50.40 lakhs on Total Revenue of 3402.29 lakhs in 2013. Total Revenue increased only 2.5 times in 31-Mar-17 but Profit After Tax increased more than 25 times to collect public money and run away.

Please open Draft Prospectus. Do not rely on details by company agents.

Sorry to interrupt you sir, but my view on SIRCA is different from you. I am not the company's agent nor from the management, I am just an investor from Gujarat and hv attended SIRCA's investors meet held in Ahmedabad. Had a chance to meet promoters also which cleared my few doubts.
1-The main factor behind the growth in EBITDA is regular change in product mix of wooden coatings for best performance in Indian weather and shifting from trading company to trading and End solution providing company.
2-The company continues to remain a debt free company.To reach pan India level company added 90 new dealers and 4 new branches with depots in past 6 months. and fulfil demand of market. The company uses its internal cash accruals to increase in inventory and receivables from new dealers so that company has negative cash flow during nine months audited statement. Clearly shows the robust demand of SIRCA products
3-The company has had positive cash flow from operations for every year since 2010 except for fy18 where they had negative cash flow due to expansion into new territories. When you expand into new markets and geographies, always your receivables and inventory will go up as you establish yourself.
4- Cost of acquisition is zero for all promoters obviously. The business is so good that they never needed to infuse any money. The valuation is just 10pe for fy19 while all competitors trade at 50-60pe.
5- Go to Delhi area or North India and ask anyone about Sirca paint and you will know about their brand recognition.
6- Regarding corporate governance, yes that's something they need to improve and they are improving it.

It is delhi based company be careful
Can well be avoided as we have better option

it anyway is a navigant issue and hence avoid.

I am surprised how retailer get fooled to apply in Navigant issue which has such dismal record.

Data showing are in Millions not in lacs

Please open Draft Prospectus. Do not rely on details by company agents.

CHeck the price movement of recent navigant issues.
its down between 10-20 pc now

Not sure if anyone have checked but dont get carried away by financial .
even power and instrumentation was considered excellent is now down 8 pc from issue price

when Navigant is not able to control price for its small issue just imagine the fate of this large issue

OK note that financial situation of company shown here is in laws not in millions. So EPS in fy 18 on diluted equity will be 10. Pricing Appears reasonable.

Vibs@
Aa Gaye company circle wale.ye log ne Chittorgarh side Ko professional Bana diya.missguide to all investors.

A good company with a grate valuations. Pioneer in PU Paints. Attractive PE. Have a potential to be a multibagger.

Why this ipo in sme category when everything is good in revenue and profit consistently.