Varroc Engineering IPO: Strong competitive position in attractive growing markets; Subscribe

Hem Securities | June 25, 2018, 1:10 p.m.


The co is bringing the issue at p/e multiple of approx. 29 on FY18 eps at price band of Rs 965-967/share. Co has strong competitive position in attractive growing markets has long-standing customer relationship with low cost, strategically located manufacturing and design footprint. Also, company has consistent track record of growth and operational and financial efficiency. Hence, looking after all above, we  recommend “Subscribe” on issue.

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