Teerth Gopicon Limited (NSE SME)

Apr 8, 2024 - Apr 10, 2024

Price ₹111 - ₹111
Premium ₹16
Lot size 1200
Allotment Apr 12, 2024
Listing Apr 16, 2024

Category Lot(s) Qty Amount Reserved
Retail 1 1200 133200 1583
HNI 2 2400 266400 1583

Last updated on 10-Apr-2024 17:01:02

Category Offered Applied Times
NIB 1899600 184398000 97.07
RETAIL 1899600 79320000 41.76
Total 3799200 263718000 69.41
Retail Apps 66100 © IPO Premium
HNI Interest Cost Per Share (7 Days)
@7%
₹14.46
@8%
₹16.53
@9%
₹18.6
@10%
₹20.66
@11%
₹22.73
@12%
₹24.8
About

IPO Reservation

Investor Category Shares Offered No. of Shares
Retail 47.5% 1899600
Other 47.5% 1899600
Market Maker 5.01% 200400
Total No. of Shares 100.0% 3999600

Teerth Gopicon Limited, established in 2019, stands as a dynamic player in the infrastructure development sector, primarily operating in Madhya Pradesh. Specializing in road construction, sewerage, and water supply projects, the company has showcased its versatility by extending its services as a subcontractor and successfully completing residential tower projects in Indore. With registrations as a contractor for both government bodies such as ISCDL, IMC, USCL, UMC, MPJNM, and private sector clients, Teerth Gopicon Limited has garnered a diverse portfolio of civil engineering projects, ranging from building constructions to sewage treatment plants and road networks. As of February 29, 2024, the company boasts a dedicated team of 164 permanent employees across various departments, reflecting its commitment to excellence and sustainable growth in the realm of infrastructure development.

Teerth Gopicon IPO Details

Issue Size 3,999,600 shares
(aggregating up to ₹44.40 Cr)
Fresh Issue 3,999,600 shares
(aggregating up to ₹44.40 Cr)
Issue Type Fixed Price Issue IPO
Listing At NSE SME
Share holding pre issue 8,000,000
Share holding post issue 11,999,600
Market maker portion

200400 Shares

Giriraj stock broking

Key Performance Indicator

KPI Jan-24 Mar-23 Mar-22
ROE 66.40% 25.64% 2.54%
ROCE 48.40% 26.16% 3.81%
RONW 49.85% 22.72% 2.50%
D/E 0.60 0.43 2.24
EPS
(basic & Diluted)
13.29 3.58 0.31
P/BV 5.65   .
P/E
(pre IPO)
49.55    

Company Financials

Teerth Gopicon Limited Financial Information (Restated)

Teerth Gopicon Limited's revenue increased by 25.45% and profit after tax (PAT) rose by 1073.67% between the financial year ending with March 31, 2023 and March 31, 2022.

Period 31 Jan 2024 Mar 2023 Mar 2022 Mar 2021
Assets 13719.79 4,743.30 4,277.16 3,115.47
Revenue 6970.02 3,914.87 3,120.77 4,620.74
Profit 784.04 179.22 15.27 46.45
Net Worth 1572.74 788.70 609.49 594.22
Reserves 772.74 288.70 109.49 94.22
Borrowing 937.18 337.98 1,365.50 933.82
Amount in ₹ Lakhs

Strength Factors

Strong Presence in Madhya Pradesh: Teerth Gopicon Limited has established a formidable presence in Madhya Pradesh, showcasing its expertise and capability in delivering infrastructure projects in the region. This local stronghold provides the company with deep-rooted knowledge of the local terrain, regulations, and market dynamics, giving it a competitive edge in securing and executing projects efficiently.

Continuous Focus on Equipment Ownership: The company's unwavering focus on owning and maintaining its equipment demonstrates a commitment to operational efficiency and cost-effectiveness. By owning their equipment fleet, Teerth Gopicon Limited ensures greater control over project timelines, quality standards, and resource allocation, thereby enhancing its ability to deliver projects on time and within budget.

Focused Player in Water Supply Projects (WSP): Teerth Gopicon Limited's specialization and focus on water supply projects (WSP) highlight its expertise in a critical sector of infrastructure development. By concentrating on WSP, the company can leverage its experience, resources, and capabilities to deliver high-quality and sustainable solutions for water supply infrastructure, thereby positioning itself as a reliable and preferred partner for clients seeking expertise in this domain.

Risk Factors

Operational Headquarters Diversification: Operating with a registered office in Ahmedabad and a corporate office in Indore may pose challenges in terms of managing and coordinating operations effectively. The geographical spread of offices could potentially lead to communication gaps, logistical issues, and operational inefficiencies, which may impact the company's ability to respond swiftly to market dynamics and client needs.

Highly Competitive Environment: Operating in a highly competitive environment within the infrastructure sector can pose significant challenges for Teerth Gopicon Limited. Intense competition from other construction firms, both large and small, could lead to pricing pressures, reduced margins, and the need for continuous innovation to differentiate the company's offerings. Failure to effectively navigate this competitive landscape may hamper the company's growth prospects and market share.

Working Capital Requirements: The nature of the construction industry often entails high working capital requirements due to the need to finance project expenses such as labor, materials, and equipment before receiving payment from clients. Teerth Gopicon Limited's inability to fund these requirements in a timely manner could strain its liquidity position, leading to delays in project execution, supplier disputes, and potential project cancellations. Managing working capital efficiently is crucial to sustaining operations and mitigating the risk of adverse financial performance.

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