Ecom Express IPO Review & Recommendations

Ecom Express IPO Peer Comparison

Ecom Express Limited peer comparison with similar listed entities. (As on March 31, 2024)

Notes:

1. All the financial information for listed industry peers mentioned above is on a consolidated basis and is sourced from the annual report/ audited results of the respective companies for the year ended March 31, 2024 unless provided otherwise.
2. Net Asset Value per equity share represents net worth attributable to equity holders of holding company as at the end of the financial year, as restated, divided by the weighted average number of equity shares (including mandatorily convertible preference shares classified as equity) outstanding at the end of the financial year / period after considering the adjustment of share split and bonus issued subsequent to Financial Year/period end.
3. P/ E ratio is calculated as closing share price on July 31, 2024, quoted on NSE/ Diluted EPS for the Financial Year ended March 31, 2024.
4. P/B ratio is calculated as closing share price on July 31, 2024, quoted on NSE/ NAV as at March 31, 2024.
5. Return on Net Worth (%) = Loss for the year attributable to owners of the Holding company divided by average of net worth at the end of the Financial Year and beginning of the Financial Year.
6. Net worth has been computed as a sum of equity share capital, instruments entirely equity in nature and other equity (including Capital Reserve relating to the amount forfeited from the money received against share warrant option)..
7. Total income represents revenue generated from operations, including other non-operating income.
8. Asset turnover ratio is calculated as revenue from continued and discontinued operations for the period, divided by, average assets invested in business as on March 31, 2024. Asset invested is defined as two years average of total assets excluding cash and bank balances and fixed deposits.
9. Return on capital employed is calculated as earnings before interest and tax (EBIT) for the period, divided by, average capital employed as at March 31, 2024.
10. Earnings before interest and tax (EBIT) = Profit before tax (PBT) + interest expense + loss on fair valuation of Preference Shares - other income.
11. Average capital employed is calculated as two years average of tangible net worth, excluding intangible assets and deferred tax asset, as at March 31, 2024 plus borrowing minus cash and bank balance (including fixed deposits).
12. Basic and Diluted earnings per share (₹) = Earnings per equity share for loss from continuing and discontinued operations attributable to equity holders of our Company divided by the weighted average number of equity shares (including mandatorily convertible preference shares classified as equity) outstanding during the period/ year.
13. Basic and diluted earnings per equity share for all the Financial Years are computed in accordance with Indian Accounting Standard 33 notified under the Companies (Indian Accounting Standards) Rules of 2015 (as amended). Pursuant to a resolution passed by our Board and Shareholders on August 7, 2024 our Company approved the bonus issue of Equity Shares in the ratio of 1 equity share of face value of ₹10 each for every 2 equity shares of face value of ₹10 each to the equity shareholders of our Company. Further, pursuant to the resolution passed by our Board and Shareholders on August 9, 2024, each equity share of face value of ₹10 each has been split into 10 Equity Shares of face value of ₹1 each. All calculations for basic and diluted earning per share have been done after giving effect to such sub-division and bonus issuance, in accordance with principles of Ind AS 33.