Boss Packaging Solutions IPO Review

"Boss Packaging Solutions Limited" started business in 2012 as manufacturer of filling and sticker labelling machines, they have come a long way today to become a manufacturer, supplier and exporter of diversified packaging, capping, filling machines, self-adhesive sticker labelling machine, conveyors, turn tables, web sealers, sleeve applicator etc. They have sales and distribution network in Pan India.

The Company is led by Promoters named, KAMLESHBHAI HASMUKHBHAI PATEL has an experience of over 5 years, JAGRUTIBEN MANISHBHAI BRAHMBHATT has over 10 years of experience in handling administrative affairs of the Company; MANISHBHAI NATVARBHAI BRAHMBHATT and KETAN SURYAKANTBHAI THAKKAR is having nearly 15 years and 12 years of experience in the area of business of Boss Packaging Solutions.

Financially, Boss Packaging revenue increased from ₹548.21 Lakhs in FY22 to ₹1,034.71 Lakhs in FY23 and currently at ₹1,217.54 Lakhs in FY24. Similarly, EBITDA increased from ₹69.19 Lakhs in FY22 to ₹143.69 Lakhs in FY23 and currently at ₹155.57 Lakhs in FY24. The PAT also increased from ₹41.77 Lakhs in FY22 to ₹100.51 Lakhs in FY23 and currently at ₹101.04 Lakhs in FY24. This indicates a steady financial performance.

For the Boss Packaging IPO, the company is issuing shares at a pre-issue EPS of ₹3.38 and a post-issue EPS of ₹2.27. The pre-issue P/E ratio is 19.53x, while the post-issue P/E ratio is 29.07x against Industry P/E ratio is 43.38x. The company's ROCE for FY24 is 28.99% and ROE for FY24 is 22.31%. These metrics suggest that the IPO is fairly priced.

The Grey Market Premium (GMP) of Boss Packaging potential listing gains of 70% - 75%. Given the company's financial performance and the valuation of the IPO, we recommend Risky Investors to Apply to the Boss Packaging Solutions Limited IPO for Listing gain or long term investment purposes.