Identixweb IPO Review

Identixweb, as an IT firm, is involved in providing Software as a service (SAAS) - based digital product solutions. The Company offers E-Commerce Store Development, Web App Development, UI/UX Design, Website development, Customize Software Development, support and maintenance with a primary focus on Shopify application development.

The company leverages the extensive experience of the promoters, Mr. Priyankkumar Jivarajbhai Savani and Mr. Ankur Jagdishbhai Lakhani. The Promoters, who has been with the Company since 2019, collectively bring over 13 years of expertise in Shopify application development. The significant contributions from the Board of Directors, Key Managerial Personnel, and Senior Management team have also played a crucial role in the company's growth.

The Revenues from operations for the period ended on Sep 30, 2024, Fiscals ended 2024 and 2023 were ₹  626.57 Lakh, ₹ 666.25 Lakh and ₹ 478.73 Lakh respectively. The EBITDA for the period ended on Sep 30, 2024, Fiscals ended 2024 and 2023 were ₹  219.55 Lakh, ₹ 450.27 Lakh and ₹  306.39 Lakh, respectively. The Profit after Tax for the period ended on Sep 30, 2024, Fiscals ended 2024 and 2023 were ₹ 134.67 Lakh, ₹  269.63 Lakh and ₹ 195.98 Lakh respectively. This indicates a steady growth in financial performance.

The Company Key Performance Indicates the pre-issue EPS of ₹ 3.76 and post-issue EPS of ₹ 2.65 for FY24. The pre-issue P/E ratio is 14.36x, while the post-issue P/E ratio is 20.37x. The company's ROCE for FY24 is 57.25%, ROE for FY24 is 37.70% and RoNW 27.39%. The Annualised EPS based on the latest financial data is ₹ 5.44 and PE ratio is 9.92x. These metrics suggest that the IPO is fully priced.

The Grey Market Premium (GMP) of Identixweb showing listing gains of 0.00 %.Given the company's financial performance and the valuation of the IPO, we recommend Investors to Avoid to the Identixweb Limited IPO for Listing gain or long-term Investment Purposes.

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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.