About the Company:
Teerth Gopicon Ltd is an engineering construction and development company engaged primarily in the construction of roads, sewerage work and water distribution work in the Madhya Pradesh.
Company has also worked as sub-contractor and constructed residential tower in the city of Indore.
Company has taken up various work as a registered Civil contractor of various Central/State Government like ISCDL, IMC, USCL, UMC, MPJNM etc. and also executed building works for private sector.
Company has executed wide range of civil engineering projects like building construction work, water supply, pipeline, , sewerage network, sewerage treatment plant, nalla tapping work, Re-use network, Over Head Tanks, GSR, , Road work, Rejuvenation of Lake etc.
Company’s business is concentrated in the State of Madhya Pradesh and mainly in city of Indore, Chhattarpur, Sagar, Dindori, Jabalpur and Ujjain.
The various clients of the Company are Indore Smart City development Limited, Indore Municipal Corporation, Ujjain Smart City Limited, Ujjain Municipal Corporation and Madhya Pradesh Jal Nigam Maryadit.
Company’s Water Distribution projects:
In the Financial Year 2020-21, 2021-22 and 2022-23 the company has concentrated in Sewage Project and Road Construction Project.
After the FY 2023 the company has concentrated in the Water Distribution projects and got the good water distribution projects from the Local Authorities and Government.
Company’s order book in terms of value of contracts, including subcontracting assignments, was Rs.1007.05 crores as on September 30, 2023.
Company’s Current Ongoing Projects:
Among the ten (10) projects company is currently executing five (5) projects aggregating to a total contract value of Rs.1034 crores relates to water supply system,
One (1) project of Rejuvenation of Rudrasagar Lake and its surrounds of total value of Rs.14.58 crores ,One (1) project of Surface Parking, office Building of total value of Rs.9.06 crores, One (1) project of Sewage Treatment plant of 25 MLD of total value of `22.70 crores, One (1) project of Real Estate Development of total value of Rs.25.71 crores and One (1) Project of Road development of Rs.33.40 crores.
Company will have to operate and maintain the projects for specific period as per the terms of the Contacts.
Segment wise Revenue Breakup:
Focused Player in Water Supply projects (WSP):
Company’s order book contains Water Supply projects projects for execution in the state of Madhya Pradesh.
Company believes that the order awarded to our company is on account of continuous effort to get the WSPs considering our technical capabilities, financial strength and timely delivery of the projects and prudent bids.
As on September 30 2023, Water Supply projects constitute 92.62 % of company’s total order book.
The government is implementing various schemes to address the supply of water.
The Central Government along with State Governments is implementing Jal Jivan Mission to provide the tap water to households. Company intends to focus on water supply projects looking to the asset base, Man power resource and financial capabilities with an eye to diversify in other states.
Management Team:
- Mr. Maheshbhai Kumbhani (Designation: Managing Director)
- Pallav Kumbhani (Designation: Director)
Objectives of the Issue:
Fresh Issue: (Rs.44.4 cr)
- Funding the working capital requirements of our Company.
- General Corporate Purpose.
Fund Utilization:
| Particulars | Amount (Rs. in Crores) |
|---|---|
| Funding the Working Capital requirement | 27.50 cr |
Financials of the Company:
| (in Crores) | FY 21 | FY 22 | FY 23 | Upto 30th Sept 23 |
|---|---|---|---|---|
| Revenue | 46.20 | 31.20 | 39.14 | 37.41 |
| Net Profit | 0.46 | 0.15 | 1.79 | 3.39 |
Valuation of Peer Group Companies:
| Company Name | Face Value | EPS | PE Ratio | RoNW | NAV |
|---|---|---|---|---|---|
| Teerth Gopicon Ltdd | 10 | 2.24 | 49.55 | 22.72% | 15.77 |
| Man Infraconstruction Ltd | 2 | 4.47 | 45.07 | 14.61% | 30.60 |
| Udayshivakumar Infra Ltd | 10 | 2.90 | 13.52 | 11.13% | 26.05 |
IPO Details:
| Details | Info |
|---|---|
| Issue Opens on | 8th April 2024 |
| Issue Closes on | 10th April 2024 |
| Issue Price | Rs.111 |
| Face Value | Rs.10 |
| Minimum Lot | 1200 Shares |
| Minimum Investment | Rs.1,33,200 |
| Issue Constitutes | 33.33 % |
| Issue Size | Rs.44.4 cr |
| Market Cap | Rs.133 cr |
| Listing at | NSE SME |
| Equity Shares Offered (Fresh) | 40,00,000 (Rs.44.4 cr) |
| Equity Shares Prior to the Issue | 80,00,000 |
| Equity Shares after the Issue | 1,20,00,000 |
Important Dates:
| Finalization of Basis of Allotment | on or Before 12th April 2024 |
| Initiation of Refunds | on or Before 15th April 2024 |
| Credit of Equity Shares: | on or Before 15th April 2024 |
| Listing Date: | on or Before 16th April 2024 |
IPO Valuation Parameters:
| Earnings Per Share (EPS) | Price To Earnings ratio (PE) | Return on Net Worth (RoNW) | Net Asset Value (NAV) | Debt Equity Ratio (D/E) |
|---|---|---|---|---|
| 2.24 | 49.555 | 22.72% | 15.77 | 0.43 |
Also Read: Complete List of NSE/BSE Holidays List>>
| Should You Subscribe or Not ? |
|---|
| Teerth Gopicon Ltd, an engineering construction and development company, is poised for an SME IPO, showcasing its stronghold in Madhya Pradesh’s infrastructure landscape. Specializing in road construction, sewerage, and water distribution projects, the company boasts a robust order book predominantly comprising government contracts, signaling stability and growth potential.
With a strategic focus on water treatment initiatives, Teerth Gopicon Ltd is tapping into an essential sector for societal well-being and environmental sustainability. As water scarcity and quality concerns persist, the company’s expertise in water infrastructure positions it favorably for future opportunities and sustained profitability. The upcoming IPO presents an opportunity for investors to participate in the company’s expansion journey, leveraging its established presence in critical infrastructure development. Given its track record, strategic direction, and the ever-growing demand for infrastructure improvements, Teerth Gopicon Ltd’s IPO promises an attractive proposition for those seeking exposure to the burgeoning infrastructure sector, particularly within the dynamic landscape of Madhya Pradesh. |
| Company Contact Info: |
|---|
| TEERTH GOPICON LIMITED Address: 204 Amar Metro Near BalniketanSangh Pagnis Paga, Pagnispaga Indore, Madhya Pradesh, India, 452007 Tel No: +91 9039031165 E-mail: investor@teerthgopicon.com Website: www.teerthgopicon.com |
| Registrar to the Issue: |
|---|
| BIGSHARE SERVICES PRIVATE LIMITED Address: Office No. S6-2, 6th Floor, Pinnacle Business Park, Next to Ahura Centre, Mahakali Caves Road, Andheri (East), Mumbai – 400093 Tel No.:+91 22-62638200 E-Mail: ipo@bigshareonline.com Website: www.bigshareonline.com |
| Lead Manager to the Issue: |
|---|
| INTERACTIVE FINANCIAL SERVICES LIMITED Address: Office No. 508, Fifth Floor, Priviera, Nehru Nagar, Ahmedabad – 380 015, Gujarat, India Tel No.: 079 46019796 Email: mbd@ifinservices.in Website: www.ifinservices.in |
| Check IPO Allotment Status: |
|---|
Bigshare: http://www.bigshareonline.com/IPO/Allotment |
| Find the List of Upcoming IPOs in India: |
|---|
Upcoming IPOs in India (Click on the below Link)https://www.marketsguruji.com/upcoming-ipos-in-india/ |
