Aesthetik Engineers Ltd IPO: Review, Valuation, Date & GMP

Aesthetik Engineers Limited IPO - Complete Overview

Aesthetik Engineers Limited IPO an SME IPO is a book-built issue of Rs.26.47 crore by Aesthetik Engineers Limited that was established in 2003 and specializes in facade system design, production, and installation in addition to interior design services.

For hotel, residential, commercial, and infrastructure projects, the company offers design, engineering, manufacturing, and installation of architectural facades, aluminum doors and windows, railings, staircases, and Glassfibre Reinforced Concrete (GFRC).

Among the products offered by Aesthetik Engineers are:

• Facade: Aluminum louvers, canopies, skylights, domes, ACP/HPL/stone cladding, spider glazing, structural glazing, and curtain walls.

• Windows and doors: providing goods and services for the design and installation of windows and doors.

• Steps and railings: Offering services for the planning, building, and installation of stairs and railings.

• Concrete with glass fiber reinforcement (GFRC).

The company's 3,000-square-meter production plant is situated in Howrah, Kolkata. 

The company plans to launch its SME IPO on August 8, 2024. 

 

Aesthetik Engineers Limited IPO Overview

The Rs.26.47 crore Aesthetik Engineers IPO consists of a fully fresh issue of 45.64 lac Shares, of which 35% are allotted to retail investors, 50% to institutional investors, and 15% to non-institutional investors.

This SME IPO is available for purchase from August 8 - August 12, 2024. The expected listing date is Friday, August 16, 2024, on NSE and SME. Share price Rs.55 to Rs.58.

To open a demat account and apply for the IPO, Click Here.

Company Financial

The company's profit after tax (PAT) climbed by 346.76 %, while revenue increased by 50.64% over the fiscal years ending 31 March 2024, and 31 March 2023.

Below is the synopsis of the company's financial data for the period between 31 March 2024, and 31 March 2023.

• The total revenue of the company is Rs.6,079.50 lac.

• The net worth of the company is Rs.1,502.41 lac.

• The company's EBITDA is Rs.7,70.81 lac.

• The total assets of the company are Rs.3,088.94 lac.
  
  

(Amount in Lac)

Period	31 Mar 2024	31 Mar 2023
Total Assets	3,088.94	2,457.77
Total Revenue	6,079.50	4,035.82
PAT	502.99	112.59
Net Worth	1,502.41	999.42
Borrowing	849.92	592.47

 

 

Revenue Bifurcation

The revenue bifurcation for various activities is shown below:

(Amount in lac)

Net Cash Flow In Multiple Activities	Till 31 Mar 2024	Till 31 Mar 2023	Till 31 Mar 2022
Net Cash Flow Operating Activities	-24,7.74	33,3.63	13,0.53
Net Cash Flow Investing Activities	-26,3.46	-10,1.47	-14,9.88
Net Cash Flow Financing Activities	22,9.39	-23,6.49	-24,9.86

 

Product-wise Revenue Breakdown

(Amount in lac)

Particular	Till 31 Mar 2024	Till 31 Mar 2023	Till 31 Mar 2022
Solar frames/ Windows sections/ Scraps	775.73	27.37	31.56

 

Service-wise Revenue Breakdown

(Amount in lac)

Particular	Till 31 Mar 2024	Till 31 Mar 2023	Till 31 Mar 2022
Doors, Windows & Louvers	1305.16	1839.28	1750.78
Structural / Curtain Wall/ Spider Glazing	2097.60	1095.22	488.68
Architectural Steel / Finishing works	93.52	33.39	34.77
ACP/Stone / Teracotta / HPL Cladding	47.59	458.36	175.96
GFRC / Speciality Concrete / Civil works	1752.40	547.34	92.13

 

Geography-wise Revenue Breakdown

(Amount in Lac)

Location	Till 31 Mar 2024	Till 31 Mar 2023	Till 31 Mar 2022
Assam	-	11.55	2.05
Bihar	21.82	362.10	147.44
Gujrat	19.55	224.92	-
Haryana	48.10	-	-
Jharkhand	471.06	122.24	20.08
Maharashtra -	206.28	489.90	-
NCR	-	-	11.48
Odisha	-	-	46.30
Sikkim	51.52	151.83	16.95
West Bengal	5253.67	2638.41	2329.58
Total	6,07,2.03	4,00,0.97	2,57,3.91

 

The Objective of the Issue

The company desires to use the Net Proceeds from the Issue to fulfill its following goals:

• For the purpose of fulfilling the company's capital expenditure requirements,

• Working capital needs.

• Meet issue expenses.

• General Corporate Purposes.

 

Peers of Aesthetik Engineers Limited

(Figures as of 31 Mar 2024)

Company Name	Face Value (Rs.)	EPS (Rs.)	P/E (x)
Innovators Facade Systems Ltd	10	8.04	28

 

Evaluation

The price of this IPO is Rs.55 to Rs.58 for each Share.

Evaluation of P/E Ratio

Considering the FY 2023-2024 with an EPS of Rs.3.97 from the last year, the resulting P/E ratio is 14.60x.

Considering the weighted EPS of Rs.7.09 for the last three years, the P/E ratio is 8.18x.

Comparative Analysis With Listed Peers

The average P/E Ratio of the industry is 28x.

Particulars	P/E Ratio (x)
Highest	28
Lowest	28
Average	28

In simple words, the P/E ratio of Aesthetik Engineers Limited-IPO (14.60x and 8.18x), compared with the industry’s average P/E of 28x, has an undervaluation. Hence the price of the Share seems fairly priced for the investors when considered based on the average P/E ratio of the industry. 

 

IPO's Strengths

• Cutting-edge equipment and product developments.

• Maintaining Uniformity in Service and Quality Standards.

• Cutting-edge equipment and product developments.

• A steady stream of clients.

 

IPO’s Weaknesses

• Since West Bengal accounts for a sizable amount of its sales, any decline in business there might harm both its revenue and profitability.

• In both the current and previous years, the company's operating, investing, and financing operations resulted in negative cash flows.

• The lenders have the right to reclaim the Rs.44,2.85 lac in unsecured loans that the company has acquired.

• Numerous operating risks are present in the sites of business activities, and their occurrence has the potential to impact the company's financial position as well as operational performance.

• Promoters' average cost of acquiring Equity Shares is less than the issue price.
  
  

 

IPO GMP Today

Aesthetik Engineers Limited IPO’s latest GMP is Rs.45.

Aesthetik Engineers Limited IPO Timetable (Tentative)

The IPO is scheduled from August 8 to August 12, 2024, with allotment on August 13, refund initiation on August 14, and listing on August 16, 2024.

Events	Date
IPO Opening Date	August 8, 2024
IPO Closing Date	August 12, 2024
IPO Allotment Date	August 13, 2024
Refund Initiation	August 14, 2024
IPO Listing Date	August 16, 2024

 

Aesthetik Engineers Limited IPO Details 

The IPO with a Face Value of Rs.10 per Share is set to start on August 8, 2024, close on August 12, 2024, and offer a total issue size of 4,564,000 Shares (aggregating up to Rs.26.47 Cr) comprising a whole fresh issue size of 4,564,000 Shares (totaling up to Rs.26.47 Cr).

IPO Opening & Closing Date	August 8, 2024 to August 12, 2024
Face Value	Rs.10 per Share
Issue Price	Rs.55 to Rs.58
Lot Size	2000 Shares
Issue Size	4,564,000 Shares (totaling up to Rs.26.47 Cr).
Offer for Sale	NA.
Fresh Issue	4,564,000 Shares (totaling up to Rs.26.47 Cr).
Listing at	NSE, SME
Issue Type	Book Built Issue IPO
Registrar	Skyline Financial Services Private Ltd

 

 

Aesthetik Engineers Limited IPO Lot Details 

The IPO allows retail investors to invest in a minimum and maximum of 1 Lot (2000 Shares) amounting to Rs.116000 and in multiples thereof, while for HNI investors, the minimum Lot is 2 (4000 Shares) amounting to Rs.232000.

Minimum Lot Investment (Retail)	1 Lot
Maximum Lot Investment (Retail)	1 Lot
HNI (Min)	2 Lots

 

Aesthetik Engineers Limited IPO Reservation

Institutional Portion	50%
Retail Portion	35%
Non-Institutional Portion	15%

 

 

Promoters And Management of Aesthetik Engineers Limited IPO

• Mr. Avinash Agarwal

• Ms. Sreeti Agarwal

• Ms. Manisha Sureka

• M/s Avinash Agarwal (HUF) 

Pre-Issue Promoter Shareholding	100%
Post-Issue Promoter Shareholding	73.5%

 

Aesthetik Engineers Limited IPO Lead Managers

• Narnolia Financial Services Ltd.
  
  

Dividend Policy

The company has not declared dividends in any financial year.

 

Conclusion

The company has experienced negative cash flow in operating, financing, and investing activities throughout the last few fiscal years. To achieve its goals, the company is currently launching an IPO for the general public.

We believe the information offered in this blog helps you learn about the company's financial performance. So this blog will be very useful to you if you are looking for information about the approaching IPO since it will give you reliable data about the company's insights, financials, and past performance. If this informative blog piques your interest, you may be interested in reading our other related and useful posts on our website.

Finowings IPO Analysis

Hope you enjoyed the Finowings IPO Analysis. We tried our best to give every required detail about the company that you should know before applying to the IPO. 

You must consult your financial advisor before making any financial decisions. 

To Apply for the IPO, Click Here.

To Read the Prospectus of the Company Click Here to Download the DRHP.

Disclaimer: This IPO analysis is only for informational purposes and should not be considered as investment advice. Always do your research and consult with a financial advisor.

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