GP ECO SOLUTIONS INDIA IPO Review

GP ECO SOLUTIONS INDIA LIMITED (GPES SOLAR) is empowering India's sustainable evolution, GPES Solar stands tall in the organized distribution arena. The company is armed with an expansive distribution network, with a mission to flood the Indian market with solar innovations from the world's elite brands.

GPES Solar is promoted by Mr. Deepak Pandey, Mrs. Anju Pandey and Mr. Astik Mani Tripathi, they have a experience of more than 13 to 15 years in the field of solar industry and renewable energy sector.

Financially, GPES Solar revenue increased from ₹ 4646.82 Lakhs in FY21 to ₹ 8344.76 in FY22 further going to ₹ 10121.24 Lakhs in FY23 and currently at ₹ 7840.37 Lakhs for the 9MFY24. Similarly, EBITDA rose from ₹ 180.52 Lakhs in FY21 to ₹ 464.21 Lakhs in FY22 and further to ₹ 668.96 Lakhs in FY23 and then currently at ₹ 802.89 Lakhs for the 9MFY24. This indicates steady growth in financial performance. 

For the GPES Solar IPO, GPES Solar is issuing shares at a pre-issue EPS of ₹ 5.14 and a post-issue EPS of ₹ 4.04. The pre-issue P/E ratio is 18.28, while the post-issue P/E ratio is 23.26 against the industry P/E ratio of 52.50. The company's ROCE for 9MFY24 is 26.51%, and ROE for 9MFY24 is 44.59%. These metrics suggest that the IPO is somewhat fairely priced.

The Grey Market Premium (GMP) indicates potential listing gains of 150%-160%. Given the company's steady financial performance and the valuation of the IPO, we recommend Investors to apply in the IPO for listing gains and long term Investment purposes.