Keerti Knowledge And Skills Ltd IPO (Keerti Knowledge IPO) Detail

should i hold keerti knowledge and skills lts ?

Allotment is out

Company has more than 70 branches, if minimum income is 10000/- p.a is considered, then also it will show profit of 70 Lacs from one subsidery,
This is very good stock which is already in ZERO DEBT, . It will stay in upper circuit for 2-3 days after listing...

FAIR VALUE NOT MORE THAN 30 RS

Pros:
Zero debt (debt free from this fiscal)
Cash-flow is fairly positive

Cons:
ROE and ROCE is very poor (after debt reduction)
There was a set back in FY16 which brought down its sales (and above ROE/ROCE)
Business has contracted and the workforce has been reduced tremendously in FY16
PB of 4

As per FY16 numbers, it''s a clear AVOID.
Looking at partial FY17 numbers, it''s still NEUTRAL only.
So, I prefer to stay away from Keerti

Key operating ratios

Year end      Mar 16      Mar 15      Mar 14      Mar 13      Mar 12
EPS(Rs)      1.92      6.51      5.04      4.75      5.09
Book value(Rs)      36.53      34.61      28.10      23.07      18.32
CEPS(Rs)      4.13      7.83      6.30      6.52      6.52
NPM(%)      14.06      14.08      12.11      11.96      11.06
OPM(%)      35.94      23.94      22.63      22.83      18.43
ROCE(%)      7.90      31.51      28.57      31.92      37.63
ROE(%)      5.47      20.69      19.41      22.92      28.24
Debt/equity      -      0.01      0.06      0.11      0.09
Interest cover      -      23.00      18.00      34.00      35.00

Cash flow analysis (Rs.in Crs.)
Year end      Mar 16      Mar 15      Mar 14      Mar 13      Mar 12
NOPAT      0.09      0.31      0.24      0.23      0.25
Operating cash flow      0.26      0.07      0.06      0.58      0.25
Free cash flow      0.27      0.16      0.08      1.36      0.39

Key financials (Rs.in Crs.)
Year end      Mar 16      Mar 15      Mar 14      Mar 13      Mar 12
Net sales      0.64      2.13      1.90      1.84      2.17
Operating profit      0.23      0.51      0.43      0.42      0.40
Net profit      0.09      0.30      0.23      0.22      0.24
Equity cap pd      0.46      0.46      0.46      0.46      0.46

Variance (Half Yearly)
Year      201603      201503      Var(%)
Type      Full Year      Full Year
Sales Turnover      0.64      2.13      -69.95
Other Income      0.00      0.02      N.A.
Total Income      0.64      2.15      -70.23
Total Expenditure      0.41      1.64      -75.00
Operating Profit      0.23      0.51      -54.90
Interest      0.00      0.02      N.A.
Gross Profit      0.23      0.49      -53.06
Depreciation      0.10      0.06      66.67
Tax      0.06      0.14      -57.14
Reported PAT      0.09      0.30      -70.00
Dividend (%)      0.00      0.00      N.A.

P & L Account(Rs.in Crs.)

Year      Mar 16      Mar 15      Mar 14      Mar 13      Mar 12
Sales Turnover      0.64      2.13      1.90      1.84      2.17
Other Income      0.00      0.02      0.00      0.00      0.01
Stock Adjustments      0.00      0.00      0.00      0.00      0.00
Total Income      0.64      2.15      1.90      1.84      2.18
Raw Materials      0.00      0.00      0.00      0.00      0.00
Excise Duty      0.00      0.00      0.00      0.00      0.00
Power & Fuel Cost      0.01      0.02      0.02      0.02      0.01
Other Manufacturing Expenses      0.00      0.00      0.00      0.00      0.00
Employee Cost      0.09      0.57      0.51      0.41      0.47
Selling and Administration Expenses      0.31      1.04      0.94      0.98      1.22
Miscellaneous Expenses      0.00      0.00      0.00      0.00      0.09
Less: Preoperative Expenditure Capitalised      0.00      0.00      0.00      0.00      0.00
Profit before Interest, Depreciation & Tax      0.23      0.51      0.43      0.42      0.40
Interest & Financial Charges      0.00      0.02      0.02      0.01      0.01
Profit before Depreciation & Tax      0.23      0.49      0.41      0.41      0.39
Depreciation      0.10      0.06      0.06      0.08      0.06
Profit Before Tax      0.13      0.44      0.34      0.33      0.34
Tax      0.04      0.14      0.11      0.11      0.10
Profit After Tax      0.09      0.30      0.23      0.22      0.24
Adjustment below Net Profit      0.00      0.00      0.00      0.00      -0.42
P & L Balance brought forward      1.14      0.84      0.61      0.39      0.57
Appropriations      0.00      0.00      0.00      0.00      0.00
P & L Bal. carried down      1.23      1.14      0.84      0.61      0.39
Equity Dividend      0.00      0.00      0.00      0.00      0.00
Preference Dividend      0.00      0.00      0.00      0.00      0.00
Corporate Dividend Tax      0.00      0.00      0.00      0.00      0.00
Equity Dividend (%)      0.00      0.00      0.00      0.00      0.00
Earning Per Share (Rs.)      1.92      6.51      5.04      4.75      5.09
Book Value      36.53      34.61      28.10      23.07      18.32
Extraordinary Items      0.00      0.00      0.00      0.00      0.01

Balance Sheet(Rs.in Crs.)

Year      Mar 16      Mar 15      Mar 14      Mar 13      Mar 12
Share Capital      0.46      0.46      0.46      0.46      0.46
Reserves & Surplus      1.23      1.14      0.84      0.61      0.39
Total Shareholders Funds      1.69      1.60      1.30      1.07      0.85
Secured Loans      0.00      0.00      0.00      0.02      0.05
Unsecured Loans      0.00      0.00      0.02      0.11      0.03
Total Debt      0.00      0.00      0.02      0.13      0.08
Total Liabilities      1.69      1.60      1.32      1.20      0.93
Gross Block      0.83      0.91      0.87      0.91      0.21
Less: Accum. Depreciation      0.00      0.00      0.00      0.00      0.00
Net Block      0.83      0.91      0.87      0.91      0.21
Capital Work in Progress      0.00      0.00      0.00      0.00      0.00
Investments      0.00      0.00      0.00      0.00      0.00
Inventories      0.01      0.01      0.01      0.01      0.01
Sundry Debtors      0.21      0.68      0.08      0.05      0.00
Cash and Bank Balance      0.48      0.18      0.22      0.33      0.69
Loans and Advances      0.46      0.78      0.60      0.44      0.50
Current Liabilities      0.09      0.41      0.10      0.30      0.11
Provisions      0.19      0.54      0.36      0.24      0.37
Net Current Assets      0.88      0.70      0.45      0.29      0.72
Miscellaneous Expenses not w/o      0.00      0.00      0.00      0.00      0.00
Total Assets      1.71      1.61      1.32      1.20      0.93
Contingent Liabilities      0.00      0.00      0.00      0.00      0.00

Capital History
Year      Equity Capital       Remarks
201703      2.106806        Rights Issue
201702      1.8568        Bonus Issue
201203      0.4642        Bonus Issue
201103      0.0422        Bonus Issue
200103      0.0211        further allotment
200003      0.0161        further allotment
199904      0.00002        Subscriber to MOA

education field.
most of ipo failed to give returns..
like Cd educare & S chand...
aviod aviod.

Look at GlobalEducationLtd Sanjay.
There is nothing wrong with the sector - it''s their business model that results in failure/success.
Anyways, PB of 4 and PE of 30 makes this IPO little expensive though.

How to apply SME IPO thru HDFC ASBA? Pls guide

How to apply SME IPO thru HDFC ASBA? Pls guide