Kalpataru IPO Review

Kalpataru Limited is an integrated real estate development company with over 113 completed projects across Mumbai, Thane, Panvel, Pune, Hyderabad, Indore, Bengaluru, and Jodhpur. Specializing in luxury, premium, and mid-income residential, commercial, and retail developments, they manage all aspects of real estate development, from land acquisition to design, construction, and sales.

The Company is led by the Promoters, Mr. Mofatraj P. Munot and Mr. Parag M. Munot, who have experience of more than five and three decades, respectively, in the real estate industry.

The Revenues from operations for the period ended on Dec 31, 2024, Fiscals ended 2024, 2023 and 2022 were ₹  16,994.89 Million, ₹ 20,299.36 Million, ₹  37,166.11 Million and ₹ 12,485.54 Million respectively. The EBITDA for the period ended on Dec 31, 2024, Fiscals ended 2024, 2023 and 2022 were ₹  1,513.22 Million, ₹ -288.28 Million, ₹ 33.85 Million, and ₹ 2,008.48 Million, respectively. The Profit after Tax for the period ended on Dec 31, 2024, Fiscals ended 2024, 2023 and 2022 were ₹ 55.11 Million, ₹ -1,165.07 Million, ₹ -2,294.33 Million, and ₹ -1,253.62 Million respectively. This indicates a steady growth in financial performance.

The Company Key Performance Indicates the pre-issue EPS of ₹ -7.41 and post-issue EPS of ₹ -5.02 for FY24. The pre-issue P/E ratio is -55.87x, while the post-issue P/E ratio is -82.40x against the Industry P/E ratio is 36x. The company's ROE for FY24 is -10.15% and RoNW is -10.15%. The Annualised EPS is ₹ 0.56 and annualised P/E Ratio is 738.06x. These metrics suggest that the IPO is fully priced.

The Grey Market Premiu (GMP) of Kalpataru 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 Kalpataru Limited IPO for Listing gain.

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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.