Vision Infra Equipment Solutions IPO Review

Vision Infra Equipment Solutions is a solution provider in the equipment space delivering their services in airports, smart cities, irrigation, building & factories, mining , railways , etc. Their portfolio of services includes: renting of road construction equipment and trading and refurbishment of these equipment.

The Company is led by the Promoter and Managing Director, Sachin Vinod Gandhi having an overall experience of around 19 years in the associated industry and the Promoter and Whole Time Directors Chetan Vinod Gandhi and Sameer Sanjay Gandhi having an overall experience of around 14 and 13 years respectively in the associated industry.

Financially, VIESL revenue increased from ₹30,510.16 Lakhs in FY22 to ₹36,889.54 Lakhs in FY23 and currently at ₹34,965.58 Lakhs in FY24. Similarly, EBITDA increased from ₹3,411.67 Lakhs in FY22 to ₹5,565.03 Lakhs in FY23 and currently at ₹8,152.67 Lakhs in FY24. The PAT also increased from ₹927.88 Lakhs in FY22 to ₹918.85 Lakhs in FY23 and currently at ₹2,668.90 Lakhs in FY24. This indicates a steady financial performance.

For the VIESL IPO, the company is issuing shares at a pre-issue EPS of ₹15.43 and a post-issue EPS of ₹10.83. The pre-issue P/E ratio is 10.56x, while the post-issue P/E ratio is 15.05x against Industry P/E ratio is 16.15x. The company's ROCE for FY24 is 28.19% and ROE for FY24 is 130.95%. These metrics suggest that the IPO is fairly priced.

The Grey Market Premium (GMP) of Vision Infra Equipment Solutions listing gains of 30% - 33%. Given the company's financial performance and the valuation of the IPO, we recommend Investors to Apply to the Vision Infra Equipment Solutions Limited IPO for Listing gain or long term investment purposes.