Winsol Engineers Ltd. IPO Review

Winsol Engineers Limited is an integrated engineering, procurement, construction and commissioning company providing Balance of Plant (BoP) Solutions for both Wind and Solar power generation companies. Their core services for BoP Solutions includes Foundation work, Substation Civil and Electrical work, Right of Way services, Cabling to substation and Grid, and Miscellaneous work.

The company is backed by strong promoters and a Board of Directors who has experience of over 35 years in the Engineering industry. Revenue have Increased from ₹60.70 Crores in FY22 to ₹65.38 Crores in FY23 showing significant growth of more than 7.71% on top Line. Also, EPS have Increased from ₹1.29 to ₹6.15 showing significant growth of more than 376%. The Company continued the excellent growth for the Period ending December 2023 as EPS have already reached ₹8.04 showing growth of more than 30%. Also, ROE and ROCE is also very good at 85.08% and 46.19% respectively.

WinSol Engineers IPO Issue price is ₹ 71 to ₹ 75 per share and Post Issue EPS of ₹ 4.49 which makes the valuation fully priced at a Post PE ratio of 16.70x times against an Industry PE Ratio of 38.67x times and there is also robust Returns on Equity (ROE) and Returns on Capital Employed (ROCE) which makes the IPO favourable for Listing Gain and Investing for long term. The Grey Market Premium (GMP) is also indicating Big Listing Gains on Listing. Investors can apply for Listing Gains and Long Term.