Bulkcorp International IPO Review

At Bulk Corp, they pride themselves in being a solution's driven company. This pride is backed by over 2 decades of experience that they have garnered in the FIBC segment, as providers of premium quality packaging solutions to top industries worldwide.

The promoters and promoter group acquired the company during the year 2015 to 2016. Mr. Punit Mahendra Gopalka, Mr. Anup Mahendra Gopalka and Mr. Sanjay Pandurang Sadavarte are current Promoters of the company and have combined experience of the promoters more than 35 years of experience in the field of manufacturing and packaging industry.

Financially, Bulkcorp revenue increased from ₹3,176.36 Lakhs in FY21 to ₹4,919.90 Lakhs in FY22 and later decreased to ₹3,895.71 Lakhs in FY23 and currently at ₹4,650.45 Lakhs in FY24. Similarly, EBITDA increased from ₹190.75 Lakhs in FY21 to ₹270.11 Lakhs in FY22 and further to ₹242.06 Lakhs in FY23 and currently increased to ₹469.14 Lakhs in FY24. The PAT also increased from ₹63.53 Lakhs in FY21 to ₹172.56 Lakhs in FY22 and further to ₹121.22 Lakhs in FY23 and currently increased to ₹355.90 Lakhs in FY24. This indicates a steady growth in financial performance.

For the Bulkcorp IPO, the company is issuing shares at a pre-issue EPS of ₹6.42 and a post-issue EPS of ₹4.73. The pre-issue P/E ratio is 16.35x, while the post-issue P/E ratio is 22.19x against the industry P/E ratio of 26.34x. The company's ROCE for FY24 is 40.25%, and ROE for FY24 is 50.40%. These metrics suggest that the IPO is fairly priced.

The Grey Market Premium (GMP) of Bulkcorp indicates potential listing gains of 70% to 75%. Given the company's financial performance and the valuation of the IPO, we recommend Investors to Apply to Bulkcorp International Limited IPO for Listing Gain or Long Term Investment Purposes.