Delta Autocorp IPO Review

At Deltic, they're climate tech enablers and innovators who thrive on turning dreams of EV mobility into reality for the larger India. Their journey is fueled by a passion for perfection in manufacturing backed by 7 years of market research which sets them miles apart from the rest. Their electric vehicles have not only conquered the rugged and diverse terrains of Bharat across its 24 states, but have also won hearts for their impeccable build, fit, and design.

Two of the esteemed promoters of Delat Autocorp are Mr. Ankit Agarwal and Mrs. Priyanka Agarwal, bring with them a wealth of experience spanning over 14 years and 14 years respectively in diverse domains of finance, research, logistics, real estate, HR Management, Risk Consultancy and electric vehicles.

The Revenues from operations for the period ended on Oct 31, 2024, Fiscals ended 2024, 2023 and 2022 were ₹ 4,527.53 Lakh, ₹ 6,334,53 Lakh, ₹ 8,055.56 Lakh and ₹ 5,753.41 Lakh respectively. The EBITDA for the period ended on Oct 31, 2024, Fiscals ended 2024, 2023 and 2022 were ₹ 675.49 Lakh, ₹ 952.40 Lakh, ₹ 792.61 Lakh, and ₹ 627.81 Lakh, respectively. The Profit after Tax for the period ended on Oct 31, 2024, Fiscals ended 2024, 2023 and 2022 were ₹ 480.81 Lakh, ₹ 695.68 Lakh, ₹ 513.41 Lakh, and ₹ 420.34 Lakh respectively. This indicate a steady growth in financial performance.

The Company Key Performance Indicates the pre-issue EPS of ₹ 9.51 and post-issue EPS of ₹ 4.55 for FY24. The pre-issue P/E ratio is 13.67x, while the post-issue P/E ratio is 28.57x against the Industry P/E ratio is 73x. The company's ROCE for FY24 is 40.32%, ROE for FY24 is 45.89% and RoNW 36.88%. The Annualised EPS based on the latest financial data is ₹ 7.23 and PE ratio is 17.96x. These metrics suggest that the IPO is fairly priced.

The Grey Market Premium (GMP) of Delta Autocorp showing potential listing gains of 74.61%. Given the company's financial performance and the valuation of the IPO, we recommend Risky Investors to Apply to the Delta Autocorp Limited IPO for Listing gain.

Disclaimer: The information provided in this IPO review is for educational and informational purposes only and should not be construed as financial advice or an offer to buy or sell securities. The review must not be used as a singular basis of any investment decision. The views herein are of a general nature and do not consider the risk appetite or the particular circumstances of an individual investor; readers are requested to take professional advice before investing. Nothing in this document should be construed as investment advice. The content is based on publicly available information and market perceptions as of the date of publication and is subject to change. Neither the author nor the website is responsible for any losses or damages arising from the use of this information. 

About the Author
 CA Abhay Kumar (Also known as  CA Abhay Varn) is a qualified Chartered Accountant by profession and cleared CA at age 21. He is a SEBI Registered Research Analyst with Registration Number - INH300008465. He Possesses 8+ years of experience in the Stock Market Field and has also worked in Big CA firms during the training period. He is good at Technical analysis and Fundamental Analysis and uses both Technical and Fundamental analysis along with five other important factors that affect the movement of the Market namely Global Market Analysis, Upcoming Event Analysis, Institutional Money Analysis, Derivative Data Analysis, and Emotions and Sentiment of Traders and Investors in his Framework called - Technical Fundamental GUIDE to find the winning Trades.