Shree Hare-Krishna Sponge Iron IPO Review

Shree Hare-Krishna Sponge Iron is primarily engaged in the business of manufacturing and selling of Sponge Iron. Sponge iron is mainly used as a raw material for steel production in electric arc furnaces and induction furnaces. Through their sponge iron business, they cater to the metallic requirements of steel producers in selected geographies.

The company is led by promoters, Manoj Parasrampuria, who has total work experience of over 36 years in the steel and metal industry, Anubhav Parsrampuria has an experience of around 7 years in steel industry and Manish Parasrampuria has an experience of around 32 years in steel Industry.

The Revenues from operations for the Fiscals ended on Mar 31, 2025, 2024 and 2023 were ₹ 8,360.02 Lakh, ₹ 8,493.13 Lakh and ₹  9,524.95 Lakh. The EBITDA for the Fiscals ended on Mar 31, 2025, 2024 and 2023 were ₹ 1,399.48 Lakh, ₹  1,491.03 Lakh and ₹ 1,507.96 Lakh. The Profit after Tax for the Fiscals ended on Mar 31, 2025, 2024 and 2023 were were ₹  919.80 Lakh, ₹ 1,017.44 Lakh and ₹ 1,052.23 Lakh respectively. This indicates a steady growth in financial performance.

The Company Key Performance Indicates the pre-issue EPS of ₹ 6.51 and post-issue EPS of ₹ 4.79 for FY24. The pre-issue P/E ratio is 9.06x, while the post-issue P/E ratio is 12.31x against the Industry P/E Ratio is 24x. The company's ROCE for FY24 is 14.70%, ROE for FY24 is 13.33% and RoNW is 12.51%. These metrics suggest that the IPO is fairly priced.

The Grey Market Premium (GMP) of Shree Hare-Krishna Sponge Iron 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 Shree Hare-Krishna Sponge Iron 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.