Victory Electric Vehicles International IPO Review

Victory Electric Vehicles International Limited manufactures electric vehicles ranging from E-rickshaws, E-Cargo/Loader E -Rickshaws, Scooters etc. The portfolio extends beyond conventional offerings to include customized E-Three Wheelers, catering to specific needs such as Food Three Wheelers and Ice Cream Three Wheelers etc.

At the helm of the company stands Mr. Sanjay Kumar Popli, the Managing Director, holds 3 years of experience as Marketing and Communications head in his own partnership firm demonstrating proficiency in leading marketing and communication strategies and Seema, who holds 3 years of experience as an operations and admin head in her own partnership firm and 4 years as a commerce lecturer. Sanjay Kumar's extensive background in both traditional manufacturing and the electric vehicle sector positions him as a dynamic leader capable of navigating the complexities of the rapidly evolving electrical industry.

The Revenues from operations for the period ended on Dec 31, 2024, Fiscals ended 2024, 2023 and 2022 were ₹ 3,967.68 Lakh, ₹ 4,876.36 Lakh, ₹ 5,213.63 Lakh and ₹ 4,813.55 Lakh respectively. The EBITDA for the period ended on Dec 31, 2024, Fiscals ended 2024, 2023 and 2022 were ₹ 623.24 Lakh, ₹ 735.04 Lakh, ₹ 205.83 Lakh, and ₹ 194.55 Lakh, respectively. The Profit after Tax for the period ended on Dec 31, 2024, Fiscals ended 2024, 2023 and 2022 were ₹ 389.12 Lakh, ₹ 489.22 Lakh, ₹ 78.80 Lakh, and ₹ 64.55 Lakh respectively. This indicates a steady growth in financial performance.

The Company Key Performance Indicates the pre-issue EPS of ₹ 18.95 and post-issue EPS of ₹ 2.30 for FY24. The pre-issue P/E ratio is 3.80x, while the post-issue P/E ratio is 31.36x against the Industry P/E ratio is 24x. The company's ROCE for FY24 is 44.78%, ROE for FY24 is 70.19% and RoNW is 70.19%. The Annualised EPS based on the latest financial data is ₹ 4.41 and PE ratio is 16.31x. These metrics suggest that the IPO is fully priced.

The Grey Market Premium (GMP) of Victory Electric Vehicles International 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 Victory Electric Vehicles International Limited IPO for Listing gain.

Disclaimer: The information provided in this IPO review is for educational and informational purposes only and should not be construed as financial advice or an offer to buy or sell securities. The review must not be used as a singular basis of any investment decision. The views herein are of a general nature and do not consider the risk appetite or the particular circumstances of an individual investor; readers are requested to take professional advice before investing. Nothing in this document should be construed as investment advice. The content is based on publicly available information and market perceptions as of the date of publication and is subject to change. Neither the author nor the website is responsible for any losses or damages arising from the use of this information. 1.“Registration granted by SEBI, membership of a SEBI recognized supervisory body (if any) and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.” 2. “Investment in securities market are subject to market risks. Read all the related documents carefully before investing.” 3. To read the Disclaimers, Disclosures, Investor Charter, Investor Complaints please visit our website abhayvarn.com

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.