84.SJogi| Link| Bookmark|February 21, 2024 6:44:16 PM
IPO Guru (1000+ Posts, 900+ Likes)
📌Rudra Gas Enterprise Limited✅ has entered into a Joint Venture Agreement Dated 14th Dec 2023 with Greenstat Hydrogen India Private Limited✅ in a name “Rudra Gas Greenstat Hydrogen Private Limited”🔥 for Providing Business of Generating, Storing, Transmitting, Distributing, Trading, and Supplying Energy Using Non-Conventional and renewable Sources.😮🚀
(📍Greenstat Hydrogen India Pvt Ltd is a GREEN ENERGY company facilitating energy transition throughout the whole value chain of Green Hydrogen from analysis to execution.)
📌Rudra Gas has an order book of Rs. 327.83Cr🔥, out of which income is booked for Rs. 75.71 cr. (➡️as per management, these order will be completed in 2.5 years.✅)
▪️Rudra Gas has its presence in Maharashtra, MP, Bihar, Chandigarh, Gujarat, Haryana, Himachal Pradesh, Karnataka, Punjab, Pondicherry, Rajasthan, Tamil Nadu, Telangana ,UP, West Bengal.💫
➢Achieved a milestone by installing over 20,000+ household piped connections for various city gas companies, significantly improving access to CLEAN ENERGY✅ for families across India.🔥😮
📍Completed and ongoing project details are attached in the last.✅
📌📌 ➡️ ➡️
▪️Rudra Gas Enterprise Limited✅ was founded in 2015 and is active in gas distribution network projects, fiber cable networks, construction equipment, and vehicle rental.
▪️They derive revenue from following 3 business verticals:-
1)Gas Pipeline Projects (90% Revenue)✅:-
a)Industrial Natural Gas Connection.
b)Commercial Natural Gas Connection.
c)PNG Domestic Connection.
d)Operation & Maintenance Of Gas Pipeline Network.
2)Fiber Cable Projects (7.5% Rev)✅
3)Renting of Construction Machineries and vehicles (2.5% Rev)✅
1)Gas pipeline projects:- These include the laying of pipelines for the distribution of city gas network and the construction of associated facilities such as CNG (compressed natural gas) stations, the construction, installation, testing, and commissioning of underground pipelines, maintenance, and repair facilities, the construction and installation of gas stations and their physical infrastructure such as pipelines, valves and stations required to carry out the works in accordance with the scope and specifications of the project. The company also provides comprehensive operation and maintenance services to city gas distribution companies(CGD).💫
2)Fiber optic cable projects: This involves the development of special cables for the transmission of data using light signals.💫
3)Rental of construction machinery and vehicles: This includes the rental of construction machinery and vehicles to subcontractors for specific projects.💫
▪️Company serves both in the public and private sectors.💫
▪️Over the years, it has successfully executed more than 50 projects✅ and its major completed projects quantify to approximately Rs. 127.08 cr✅.(Outstanding order book is 250Cr🔥)
📌Awards and achievements:-🔥
➢ Received Certificate of Recognition for exceptional contribution towards HSEF from JIO.(2016)
➢Received Certificate of Achievement for excellent performance in showcasing the highest level of HSE compliance and being a privileged winner of Green Gap from Adani Total Gas .(2021)✅
➢Achieved a engineering accomplishment of 1200-meter river pipeline crossing for Torrent Gas Pvt Ltd in Gorakhpur, revolutionizing city gas distribution infrastructure.(2021)🔥🔥
➢Achieved a significant milestone by installing more than 100 kilometers of high-pressure steel pipelines across India, catering to various city gas companies needs.(2022)🔥🔥
📌📌
▪️IPO price: Rs.63
▪️IPO size: 14.16Cr
▪️CMP: Rs.152
▪️Market cap: 126 Cr
▪️P/E: 29✅
▪️EPS:5.09
▪️ROE: 57%
▪️ROCE: 25%
▪️RoNW: 44.09%
▪️Permanent employees:512
▪️Debt/Equity:2.18
▪️Assets: 43.45Cr
▪️Total Borrowing: 19.90Cr (Reserves and Surplus:5.4Cr)
▪️Cash and cash equivalents:3.5Cr
▪️Share Holding Pre Issue: 99.99%
▪️Share Holding Post Issue: 73.03%
📌FINANCIALS:
▪️FY24-7M Rev: 34.5 Cr🔥
▪️FY24-7M PAT: 2.47 Cr🔥
▪️FY23 revenue is 49.6 Cr as compared to 43.9 Cr(FY22), 13%✅ growth yoy.
▪️FY23 PAT is 3.52 Cr as compared to 1.79 Cr(FY22), 97%✅ growth yoy.
▪️76%🔥 growth in revenue in last 2 years.
▪️180%🔥 growth in PAT in last 2 years.
(PAT margins of 4.52% (FY21), 4.09% (FY22), 7.12% (FY23), 7.20% (7M-FY24)✅)
📌IPO funds:
from the net proceeds, it will utilize Rs. 9.50 cr. for working capital, and Rs. 3.24 cr. for general corporate purposes.
📌PEERS:
As per the offer document, the company has shown Likhitha Infra as their listed peers. It is trading at a P/E 16.1 (as of February 02, 2024). However, they are not comparable on an apple-to-apple basis.
📌CLIENTS:🔥
(pls check the photos i added in my tweet, id name Sjogi.)
📌SECTOR GROWTH:
▪️In Union Budget 2023-24, the government has given a massive push to the infrastructure sector by allocating ₹11.11 lakh crore to enhance the infrastructure sector.🔥
▪️The government expanded the ‘National Infrastructure Pipeline (NIP)’ to 9,335 projects. 217 projects worth ₹ 1.10 lakh crore (US$ 15.09 billion) were completed as of 2020.✅
▪️As of July 09, 2021, cities under Smart Cities Mission(SCM) have released tenders for 6,017 projects worth ₹ 1,80,873 crore (US$ 24.36 billion); of this, work orders have been issued in 5,375 projects worth ₹ 1,49,251 crore (US$ 20.10 billion); and of these, 2,781 projects worth ₹ 48,150 crore (US$ 374.60 million) have been completed.✅
▪️Private investment into physical and social infrastructure is key to putting India in a high growth trajectory, which will make it a US$ 5 trillion economy by 2024-25.
▪️Few report projects an average annual growth rate of over 8% in India's natural gas demand, between 2022 and 2026.💫
📌STRENGTH:
➢Experienced Promoter and Management Team(promoters have combined experience of 24 years✅ in the industry)
➢Robust infrastructure and effective project execution.✅
➢Established long-term client relationships and driving repeat business.
➢Compliance and Safety Culture.
➢Customer Focus.
➢Optimal Utilization of Resources.
📌FUTURE PLAN:
▪️Expanding Operations Nationwide.💫
▪️Continuing Client Relationship Development and Expansion.💫
▪️Expanding Operation & Management Services.
▪️Enhancing Working Capital Management:
📌Disclosure: Not a buy/sell recommendation. only for study and education purpose. Please consult your financial advisor before investing. Please stop investing blindly.
