Rajput Trading Desk

@nagusinghrajput

Technical Analyst, Price Action Trader, Day Trader Equity F&O and Commodities NSE BSE & MCX.

India

Joined February 2011

59 Following

3.1K Followers

10.1K Posts

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Rajput Trading Desk @nagusinghrajput

over 5 years ago

Disclaimer- I am not SEBI registered advisor. All views shared in my twitter handle are for educational purposes and should not be considered advise of any nature. Learn and Earn.

Rajput Trading Desk @nagusinghrajput

1 day ago

@bobbykri_ranjan Quality and informative research.

nagusinghrajput retweeted

The Smart investor

@bobbykri_ranjan

2 days ago

**1/8 🧵 IPO Breakdown: Indo-MIM Limited** Is the world's largest Metal Injection Molding (MIM) player worth your application? Here is the complete analysis of the ₹3,811 Cr issue, financials, growth drivers, and final verdict 👇 --- **2/8 🏢 What Does Indo-MIM Do?** Founded in 1996 in Bengaluru, Indo-MIM is the **#1 global market leader** in MIM technology. * Specialized in complex, high-precision metal & ceramic engineered components * Serves 1,100+ global OEMs across automotive, aerospace, medical, and defense * Operating footprint spanning over 45 countries --- **3/8 📊 Key IPO Details** * **Issue Dates:** 23 Jul – 27 Jul 2026 * **Price Band:** ₹461 – ₹485 * **Issue Size:** ₹3,811.21 Cr (Fresh: ₹499.10 Cr | OFS: ₹3,312.11 Cr) * **Lot Size:** 30 Shares * **Listing:** BSE & NSE Mainboard --- **4/8 📈 Financial Performance (FY24 ➡️ FY26)** The top-line and bottom-line growth track record is strong: * **Revenue:** ₹2,752 Cr ➡️ ₹4,193 Cr (~24.3% CAGR) * **EBITDA:** ₹743 Cr ➡️ ₹1,071 Cr (25.5% Margin) * **PAT:** ₹283.7 Cr ➡️ ₹533.5 Cr (Nearly doubled!) * **Return Metrics:** Robust **21.26% ROE** & **26.60% ROCE** in FY26 --- **5/8 💡 Fund Utilization & Moats** * **Debt Reduction:** ₹400 Cr of fresh proceeds will go toward repaying debt, further lowering interest burdens. * **Competitive Moat:** Stringent global certifications (NADCAP, AS 9100) and multi-year qualification cycles create massive entry barriers. --- **6/8 ⚖️ Key Strengths vs. Key Risks** ✅ **Strengths:** Global leadership, wide economic moat, solid margin profile (~25–28%), and strong "China+1" tailwinds. ⚠️ **Risks:** ~87% of the issue is OFS, dependence on imported raw metal powders, and exposure to cyclical end-markets. --- **7/8 🏷️ Valuation Check** * At the upper band (₹485), post-issue P/E stands at **~44x**. * While priced at a premium, it is fair given its dominant global scale compared to international peers (e.g., global MIM peers trading at >100x P/E). --- **8/8 🎯 Final Research Verdict** * **Overall Score:** 88 / 100 * **Listing Gain Expectation:** Positive (~40%–42% Expected GMP) * **Long-Term View:** Strong Positive * **Final Verdict:** **SUBSCRIBE** Disclaimer: I am NOT a SEBI-registered research analyst or financial advisor. All content shared is strictly for educational and informational purposes only. No buy/sell recommendations. Investments in the securities market are subject to market risks. Please consult a qualified financial advisor before investing.

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nagusinghrajput retweeted

The Smart investor

@bobbykri_ranjan

10 days ago

*🚨 IPO Deep Dive: Caliber Mining & Logistics Limited* A massive ₹9,551 Cr order book, 32.7% revenue CAGR, but a heavily levered balance sheet. Is this upcoming IPO a strong buy or an avoid? Let’s break down the metrics, valuations, and hidden red flags. 👇🧵 #IPO #StockMarketIndia #Investing *What does the company do?* Founded in 2014, Caliber is a premier integrated mining services and coal logistics provider. They don't own mines; instead, PSU giants hire them to manage end-to-end overburden removal, coal extraction, and rail coordination across the central mining belt. *Why the IPO?** Caliber is raising ₹450 Cr (₹400 Cr Fresh Issue + ₹50 Cr OFS). Crucially, the primary intent is healthy: ₹175–208 Cr is earmarked to aggressively pay down debt, and ₹167–200 Cr will fund CapEx for new heavy machinery. *The Core Business Moat* • **Scale:** Owns a fleet of over 1,900+ heavy custom mining assets, creating steep entry barriers. • **Regulatory Moat:** Winning PSU tenders requires rigorous multi-year financial and execution pre-qualifications. *Explosive Financial Trajectory 📈* The topline growth over the last 5 years is stellar: • FY22: ₹540.2 Cr • FY24: ₹953.1 Cr • FY26: ₹1,677.6 Cr That represents a striking multi-year scaling phase driven by large order inflows. *Expanding Margins 💰* Operational efficiencies are kicking in perfectly as the business scales: • EBITDA expanded from ₹124.2 Cr (FY22) to ₹431.2 Cr (FY26). • EBITDA Margins scaled up from 23.0% to 25.7%. • FY26 Profit After Tax (PAT) comes in at ₹157.9 Cr. *Return Profiles* Efficiency metrics look top-tier for a capital-intensive industry: • Return on Equity (ROE): **27.8%** • Return on Capital Employed (ROCE): **21.5%** • Free Cash Flow (FCF) turned structurally positive in the last 3 years, hitting ₹145 Cr in FY26. *🚨 The Big Red Flag: Leverage* Before clicking buy, look at the balance sheet risk. Gross debt stands at a steep **₹1,631 Cr** against an equity base of ~₹568 Cr. This puts their pre-IPO Net Debt-to-Equity at a heavy **1.62x**. The IPO paydown is absolutely critical here. *🚨 The Second Red Flag: Extreme Concentration* Caliber relies heavily on structural PSU monopolies. Over **90% of aggregate revenue** comes from its top 3 clients, with Northern Coalfields Limited (NCL) alone commanding ~44%. They possess virtually zero price negotiation power. *Industry Tailwinds 🇮🇳* India is the world's 2nd largest coal consumer. With the Ministry of Coal targeting 1.5 billion tonnes of domestic production by 2030 to curb expensive imports, commercial mining service providers have a very clear structural runway. *Let’s Talk Valuation: Is it cheap?* At the upper price band of **₹424/share**, the post-issue market cap is ₹2,822 Cr. • **P/E Ratio:** 17.55x (FY26 earnings) • **EV/EBITDA:** 9.85x • **PEG Ratio:** 0.63x Verdict: The promoters left money on the table to offset the debt risk. *Relative Peer Comparison 📊* Caliber enters at a noticeable discount despite stronger operational numbers: • Caliber P/E: **17.55x** (EBITDA: 25.7%) • Peer A P/E: **24.50x** (EBITDA: 21.0%) • Peer B P/E: **21.20x** (EBITDA: 18.5%) • Peer D P/E: **26.10x** (EBITDA: 19.8%) *Promoter & Governance Check* Promoted by the Chadda family with over two decades of technical expertise. Post-IPO holding drops from 100% to ~78.5%. The books are clean, featuring zero promoter pledges and highly respectable independent board members. *IPO Structural Details* • **Price Band:** ₹402 – ₹424 • **Lot Size:** 35 Shares (₹14,840 minimum) • **Anchor Book:** ₹135 Cr already locked in from marquee funds (Quant MF, Ashoka India, Abakkus, Carnelian). • **Listing Date:** July 24, 2026. *Listing Outlook 🚀* Strong institutional appetite is visible, with Day 1 already fully subscribed (1.21x). The current Grey Market Premium (GMP) is tracking at ~₹105, indicating strong market sentiment and anticipated listing gains of ~25%.