September 19, 2011 - September 21, 2011

Prakash Constrowell IPO Review & Recommendations

Dilip Davda and MLR Securities Private Ltd recommend to "Avoid" the IPO.

Prakash Constrowell IPO Review Summary from brokers and analysts

Review By	Apply	May Apply	Neutral	Avoid	Not Rated
Count	0	0	0	2	0
%	0.00	0.00	0.00	100.00	0.00

Prakash Constrowell IPO Analysis By Brokers/Analysts

Reviewer	Recommendation	Past Reviews
Dilip Davda	Avoid
MLR Securities Private Ltd	Avoid

Prakash Constrowell IPO Capital Market Rating

The Captial Market (CapitalMarket.com) rating for Prakash Constrowell IPO is 20. Their analysis recommends Do not subscribe for the IPO.

Reviewer	Rating Score	Rating
Capital Market	20	Do not subscribe

Prakash Constrowell IPO Review by Dilip Davda (Avoid)

[Dilip Davda]

The Company's income from operations on a consolidated basis as per the restated financials has grown from Rs 26.40 crore in the year 2007-08 to Rs 126.91 crore in the year 2010-11 exhibiting a compounded annual growth rate of 68.77 % over the period of past four financial years. Its profit after tax on a consolidated basis as per the restated financials has grown from Rs 3.06 crore in the year 2007-08 to Rs 10.65 crore in the year 2010-11 exhibiting a compounded annual growth rate of 51.47 % over the period of past four financial years. However, if this earnings translated on the basis of enhanced equity post this issue, than the EPS for 2010-11 stands at Rs. 10 and the book value of Rs. 39 as on 31.3.2011 makes this offer at and around 13 P/E and 3.3 P/BV on the lower price band. Thus it looks aggressively priced and hence worth giving it a MISS

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