WINNY IMMIGRATION & EDUCATION SERVICES IPO Review

WINNY IMMIGRATION is mainly in the visa consultancy business. In their company they provide assistance (Service) to individual for study, travel, work, business and migration purpose. At Winny, their objective is to simplify the international journey for their clients. Winny is backed by strong promoter named, Jignesh Patel, who has experience of more than two decades in the immigration and other visa sectors.

Financially, Winny Immigration's revenue increased from ₹998.81 Lakhs in FY22 to ₹1,177.38 Lakhs in FY23 but decreased to ₹1,080.69 Lakhs in FY24. Similarly, EBITDA was ₹196.72 Lakhs in FY22 and increased in FY23 to ₹245.76 Lakhs but decreased to ₹98.45 Lakhs in FY24. PAT increased from ₹127.63 Lakhs in FY22 to ₹144.71 Lakhs in FY23 but fallen in FY24 to ₹39.27 Lakhs. This does not indicate steady financial performance.

For the Dindigul Farm IPO, the company is issuing shares at a pre-issue EPS of ₹2.59 and a post-issue EPS of ₹1.80. The pre-issue P/E ratio is 54.05x, while the post-issue P/E ratio is 77.77x against the Travel agencies industry P/E ratio of 63.3x. The company's ROCE for FY24 is 15.74%, and ROE for FY24 is 18.60%. These metrics suggest that the IPO is fully priced.

The Grey Market Premium (GMP) indicates potential listing gains of 0. Given the company's financial performance and the valuation of the IPO, we recommend Investors to avoid the IPO for listing gains or long term Investment purposes.