Tankup Engineers IPO Review

Tankup Engineers are a leading manufacturer of self-bunded fuel tanks in India, offering a wide range of capacities to meet the diverse needs of industriessuch as agriculture, mining, construction, and logistics. With a focus on innovation and quality, Tankup has earned a reputation for delivering reliable and efficient fuel storage solutions that meet the highest internationalstandards.

The Company have promoters Govind Prasad Lath, Gaurav Lath and Pankhuri Lath have experience of around 20 years, 17 years and 10 respectively there can be no assurance that they will be able to successfully pursue their growth strategies, or that pursuing these strategies will provide them the anticipated benefits.

The Revenues from operations for the period ended on Nov 30, 2024, Fiscals ended 2024, 2023 and 2022 were ₹ 1,247.51 Lakh, ₹ 1,954.07 Lakh, ₹ 1,185.20 Lakh and ₹ 139.81 Lakh respectively. The EBITDA for the period ended on Nov 30, 2024, Fiscals ended 2024, 2023 and 2022 were ₹ 162.28 Lakh, ₹ 360.77 Lakh, ₹ 131.92 Lakh, and ₹ 8.66 Lakh, respectively. The Profit after Tax for the period ended on Nov 30, 2024, Fiscals ended 2024, 2023 and 2022 were ₹ 94.70 Lakh, ₹ 256.88 Lakh, ₹ 78.87 Lakh, and ₹ 4.60 Lakh respectively. This indicates a steady growth in financial performance.

The Company Key Performance Indicates the pre-issue EPS of ₹ 9.34 and post-issue EPS of ₹ 4.85 for FY24. The pre-issue P/E ratio is 14.99x, while the post-issue P/E ratio is 28.86x. The company's ROCE for FY24 is 46.49%, ROE for FY24 is 107.11% and RoNW is 69.75%. The Annualised EPS based on the latest financial data is ₹ 4.36 and PE ratio is 32.07x. These metrics suggest that the IPO is fairly priced.

The Grey Market Premium (GMP) of Tankup Engineers 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 Tankup Engineers 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.