1 month ago
Anand Rathi, has come out with its report on SRM Contractors Ltd. The research firm has recommended to “ Subscribe- Long Term ” the ipo in its research report as on March 26 2024.
Broker Research
March 26, 2024 / 12:13 PM IST
IPO
Anand Rathi, IPO report on SRM Contractors Ltd
SRM constructors are an engineering construction and development company engaged primarily in the construction of roads (including bridges), tunnels, slope stabilisation works and other miscellaneous civil construction activities in the Union Territories of Jammu & Kashmir and Ladakh. They undertake construction works both as an EPC contractor and on an item rate basis for infrastructure projects. Their Company also undertakes sub-contracting assignments of infrastructure construction projects. They have a track record of successful execution of road, tunnel and slope stabilization projects in the difficult terrain of union territories of Jammu & Kashmir and Ladakh and they, believe that they have developed the expertise and know-how to undertake infrastructure construction projects in difficult terrains.
Valuation and Outlook
At the upper price band company is valued at P/E of 25.7x with a market cap of ₹4,818 million post issue of equity shares. We believe that valuations of the company is fairly priced and recommend a “Subscribe-Long Term” rating to the IPO.
For all IPO report, click here
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