Haresh Maheshwari

e=mc² Kutchi Maadu

[Paryan Sharma @Paryan_Sharma]

Glass Wall Systems (India) Ltd IPO

I am Applying for Reasonable Listing Gains & Holding

- Glass Wall is a provider of façade and fenestration solutions; Caterers to Premium Exterior demand of Real Estate Developers, Contractors and International Customers

These products provides protection and also provides Good Aesthetics to any Building

- Three Segments: Domestic façade (49%), International façade (45%) and Fenestration Solutions (6%)

Provides Manufacturing + EPC for Domestic Operations

- Served to Reputed Clients like Lodha Developers, Bagmane Group and Winpro International (USA)

- Order Book is ~1,000 Cr. About 20% of it is Fenestration segment which is a High Margin Product (40-50% EBITDA). Execution period about be near 18-24 months

- The Company is Backward Integrating by adding Glass Processing Units (GPU) capabilities in its premises. 50 Cr will be utilised from IPO proceeds for this. OFS: 368 Cr (Motilal Oswal is selling the major stake)

- The Company has Recently down CapEX and increased their Capacity by 30-35% to cater the demand

- Numbers are Good, Contribution from High Margin Products have incresed over the years. Balance Sheet is Good and Cashflows are healthy

▫️ Valuation
Glass Wall is Coming at 19x FY26 PE and as per my calculations, at ~12x FY28E PAT Multiple

There is no Comparable Listed Peer of this Scale

Giving Glass a 18-20x FY28 Multiple, Upside Visibility is more than 55%

- Management Quality is Good, Anchor Book was Very Strong

- Risks Include: Customer Concentration, Dependency on US customers for Exports Revenue, Rising Competition and big penetration of Unorganised players in this space

▫️ Conclusion
I really Liked the Company and its Positioning. They cater to Premium Real Estate Developers Demand and deal in High Margin Products

This space is expected to grow at Healthy CAGR of 15-18%

Order Book gives Revenue Visibility and capacity is also increased

Ice on the Cake is the Valuation at which the Company is bring its IPO

I am Definitely Applying

(Note: Post is Shared for Educational Purposes Only, DYDD before Applying)

#GlassWallSystems

[Tanmay 🇮🇳 @Tanmay_31_]

Applied some applications in OnEMI Technology (Kissht)

Expecting some mid single to high single digit gains in the short term, and fine with holding for short-medium term

Fine business, Good Valuations, Good Anchor Book

Couldn’t post Detailed Analysis due to some other commitments, will continue from next Mainboard IPOs

Do your own due diligence

[Investorniti 🏆 @investorniti]

JIO IPO

👉In 2026,
Personally, this will be the most awaited. ✅

No idea how a 35,000-40,000 Cr IPO will play out for everyone 😅

Never heard of,
never seen before!!

#IPOAlert

[Haresh Maheshwari @harry8353]

@Paryan_Sharma MARC Technocrats is it good IPO ?

[Haresh Maheshwari @harry8353]

@investorniti Revenue is also incorrect

[East Kutch Press Club @EastKutch_PC]

#કચ્છ

ગાંધીધામ નગરપાલિકાની સભામા હોબાળો,

પ્રમુખ ઈશિતાબેન ટીલવાણી સામાન્ય સભા પુર્ણ કરી પાછળના રસ્તાથી નાસી છુટયા

પ્રમુખ પુરપાટ ઝડપે કારમા નાશી છુટયા

ગાંધીધામની ગટર સમસ્યાના મુદે સેકટર વિસ્તારનું ટોળું પહોંચ્યું સામાન્ય સભામા

Video Credit : @govind_maheshwa

[Rohini Singh @rohini_sgh]

निर्भया केस के बाद प्रधानमंत्री मनमोहन सिंह का राष्ट्र के नाम संदेश सभी को सुनना चाहिए।

यह एक संवेदनशील, गंभीर और जिम्मेदार राष्ट्राध्यक्ष का वक्तव्य है।

वरना वह भी आकर कह सकते थे ‘रेप पर राजनीति मत करिए, रेप तो गुजरात और मध्यप्रदेश में भी हो रहे हैं’।

सुनिए और समझिए।

[Ravi Nair @t_d_h_nair]

Paolienlal Haokip, Kuki BJP MLA from Manipur, speaking about his party leaders Narendra Modi, Amit Shah and Biren Singh and the role of the BJP state government in the ongoing Manipur violence.

[Jamawat @Jamawat3]

Manipur પર સરકારે બોલવામાં કેમ મોડું કર્યુ? Delhiનું સિંહાસન કેમ આટલું ભયાનક છે?

#delhi #ManipurViolence #ManipurViolence #ManipurBurning #ManipurCrisis #ManipurViralVideo
#Kukiwomen #SaveManipur #jamawat #jamawatupdate

[Anu @anushakunmittal]

Ishaan, @zoo_bear is not a journalist who conducts prime times or debate. He is into investigation.
Call @ravishndtv if you have courage.

[Prashant Kumar @scribe_prashant]

WATCH: Arnab on #Manipur:

Govt MUST stop Whataboutery.

The Govt has made a series of terrible mistakes and doing even now by not sacking CM N Biren.

Govt would have acted swiftly if Manipur had an oppn govt.

We don’t need deflections, need solution.

#ManipurViolence

[India Meteorological Department @Indiametdept]

⚠ #RedAlert ⚠️Severe Rainfall Warning for Saurashtra & Kutch Region on 8th July.

Prepare for Heavy to Very heavy with Extremely heavy rainfall (over 204.4 mm).
Stay safe and take necessary precautions!

#WeatherAlert #StaySafe

@moesgoi
@DDNewslive
@ndmaindia
@airnewsalert

[Haresh Maheshwari @harry8353]

@reliancejio @JioCare Network down since 4 days in Gandhidham, Kutch, Gujarat.

[Kaushik Kanthecha @Kaushikdd]

There is no borders for Hard work & Dedication

Biporjoy Cyclone coverage report in CCTV International News Channel 🌪️
China Central Television 🌎

[Haresh Maheshwari @harry8353]

Biparjoy Cyclone Gandhidham Kutch Gujarat 16.06.2023 11.55 AM https://t.co/RMqxnHcAN5 #BiparjoyCyclone

[Haresh Maheshwari @harry8353]

Biparjoy Cyclone Gandhidham Kutch Gujarat 16.06.2023 8.55 AM https://t.co/YwtdHuLfxN #Biparjoy

[Haresh Maheshwari @harry8353]

#CycloneBiparjoy #CycloneBiporjoy #Gandhidham #Kutch #Gujarat 6AM early morning

[Haresh Maheshwari @harry8353]

#CycloneBiparjoy #CycloneBiporjoy #Gandhidham #Kutch #Gujarat 2AM

[Sultan AlNeyadi @Astro_Alneyadi]

Watch as a tropical cyclone forms over the Arabian Sea from these views I captured.

The ISS provides a unique perspective on several natural phenomena, which can assist experts on Earth in weather monitoring.🌩️🌀

Stay safe, everyone!

[India Meteorological Department @Indiametdept]

Cyclone Alert for Saurashtra and Kutch Coast: Yellow Message. ESCS BIPARJOY lay at 1130IST today, about 450 km SSW of Porbandar, 490 km SSW of Dwarka, 570 km SSW of Naliya. To cross Saurashtra and Kutch and adj Pakistan coasts around noon of 15 June as VSCS.