Trent ₹6 Dividend — Buy Before Jun 11, 2026 — Should You?

Key Takeaways
- Trent Limited declares a ₹6 dividend per share with the record date of 12-Jun-2026.
- To qualify for the dividend, you must buy before 11-Jun-2026 and ensure settlement.
- Top priority sectors: Consumer discretionary (retail) and dividend-focused equity strategies.
- Action: If you want the payout, consider buying before 11-Jun-2026; otherwise wait and assess fundamentals.
What Happened
Trent Limited announced a dividend of ₹6 per share for equity shareholders. The payout comes with a record date of 12-Jun-2026, and the last date to buy the stock to qualify is 11-Jun-2026. In practical terms, investors need to own the shares before 11-Jun to be eligible for the cash payout.
Key Details
Dividend payments are cash returns on top of any price appreciation. The settlement cycle in India suggests you should consider the T+2 timeline when placing orders to ensure settlement before or on the cut-off date. If you currently own the stock, this dividend increases your yield for the next 1-2 quarters, though price movements around payout can offset some gains.
Why This Matters
Dividend announcements indicate cash generation capability and can attract income-focused investors. For Trent, a ₹6 per-share payout may modestly improve total returns for holders, especially if the stock price doesn't swing wildly around the payout window. For you, the practical takeaway is to assess whether this dividend aligns with your income goals and risk profile, and whether you are comfortable with potential price volatility in the near term.
Market Context
In the current retail landscape, Trent's dividend yield should be weighed against its earnings growth, store expansions, and competitive dynamics with peers. If you already own Trent, the payout could slightly boost your realized return; if you're contemplating entry, you must factor in valuation and the stock's longer-term earnings trajectory. Your decision should hinge on fundamentals rather than chasing a cash yield alone.
What This Means For Your Portfolio
MOST IMPORTANT SECTION — direct investor impact: - Which stocks or sectors are affected: Trent's dividend affects your exposure to consumer discretionary and adds a cash component to returns for holders. - Should investor buy, hold, or wait: If you need income and the stock's fundamentals look solid, buying before 11-Jun-2026 can be reasonable; otherwise, consider your overall risk and diversify. - Any risk to existing portfolio: Dividend-driven moves can lead to concentration risk; price adjustments around the payout can create temporary drawdowns if not managed carefully.
Direct Implications
For you, the central question is whether to add or maintain a position in Trent to capture the ₹6 per share payout. If you already hold the stock, the dividend enhances your yield but do not rush to pay a higher entry price. If you are new to the stock, weigh the dividend along with business prospects such as store expansion, brand strength, and consumer demand trends.
Swastika Investmart notes that dividend announcements can lead to short-term price moves. If you are a retail investor, assess whether the yield justifies the risk and whether you already own the stock. The long-term case for Trent depends on its earnings, store expansion, and consumer demand, not just the dividend.
Sectors To Watch — Priority Order
1st Priority: Consumer Discretionary / Retail — aligned with Trent's core business and potential dividend-driven returns. 2nd Priority: Equity Markets / Dividend Income — compare yields and payout stability across the sector. Avoid Now: Fixed Income Funds — if you chase this dividend for income, you may miss better risk-adjusted opportunities in a balanced portfolio.
Action Points For Investors
- SIP investors: Rebalance gradually; don't overweight Trent solely for the dividend; keep your systematic plans intact. - Lumpsum investors: If you plan to deploy cash, align your entry with your risk tolerance and desired yield; don't chase the dividend alone. - Traders: Monitor price moves around the payout window; consider take-profit levels or hedging as needed.
Key Risks To Watch
2-3 risks investor should monitor: Dividend expectations may not sustain, price can drop around payout, and overall market volatility can impact both yield and valuation.
FAQ Details
What is the eligibility date for Trent's ₹6 dividend?
To receive ₹6 per share, you must own Trent shares before the last date to buy (11-Jun-2026) and have your trade settled.
How does this dividend affect my portfolio?
If you qualify, you will receive ₹6 per share as cash; the stock price may adjust near the payout, so total return depends on price movement as well as the dividend.
Should you buy Trent now for dividend income?
If your goal is dividend income and you are comfortable with the stock's fundamentals, buying before 11-Jun-2026 can be reasonable, but beware price risk and tax implications.
What other factors should investors consider with Trent?
Consider Trent's earnings growth, store expansion, consumer demand, competition, and overall market conditions; dividend alone should not drive allocation.
Conclusion
Trent's ₹6 dividend offers a potential income boost for shareholders, but entry decisions should hinge on your risk tolerance and the stock's fundamentals. If you aim to capture the payout, consider your timing carefully and balance with a view on long-term growth.
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SAMHI Hotels IPO: GMP, Details, Price, and More
SAMHI Hotels Limited is a branded hotel ownership and asset management platform in India. SAMHI Hotels has a portfolio of 4,801 keys across 31 operating hotels in 14 of India's key urban consumption centers, including Bengaluru, Hyderabad, National Capital Region (NCR), Pune, Chennai and Ahmedabad, as of March 31, 2023. The company also has 2 hotels under development with a total of 461 keys in Kolkata and Navi Mumbai.
OBJECTS OF THE ISSUE
- Payment of certain borrowings availed of by the company and the subsidiaries.
- General corporate purposes.


.avif)
Ashish Jakhanwala
Chairman, Managing Director and Chief Executive Officer of the Company. He has been a member of the Board since December 28, 2010. He has experience in the field of hotel operations, design, consulting and investment
Gyana Das
Executive Vice President and Head of Investments of the company. He joined the Company on February 8, 2011.
Previously, he was associated with Inter Globe Hotels Private Limited.
Sanjay Jain
Senior Director - Corporate Affairs, Company Secretary and Compliance Officer of the Company. He is a member of the Institute of Company Secretaries of India and a member of the Institute of Cost and Works Accountants of India.
Rajat Mehra
Chief Financial Officer of the Company. He joined our Company on December 11, 2012. Previously, he was associated with Religare Corporate Services Limited as an executive vice president finance change management
Tanya Chakravarty
General Counsel of the Company. She joined the Company on May 2, 2017. Previously, she was associated with Phoenix Legal, Vaish Associates Advocates and Unitech Limited
COMPANY PROFILE
- The company has a branded hotel ownership and asset management platform in India, with the third- largest inventory of operational keys.
- Within 12 years of starting business operations, the Company built a portfolio of 3,839 keys across 25 operating hotels in 12 of India’s key urban consumption centers, including Bengaluru, Hyderabad, National Capital Region, Pune, Chennai, and Ahmedabad, as of March 31, 2023.
- Pursuant to the completion of the ACIC Acquisition on August 10, 2023, the company portfolio has further increased to 4,801 keys across 31 operating hotels.
- The company categorizes its hotel portfolio into three distinct hotel segments based on brand classification-Upper Upscale, Upper Mid-scale, and Mid-scale.
COMPETITIVE STRENGTHS
- Company’s ability to acquire dislocated hotels and demonstrated track record to re-rate hotel performance through renovation and/or rebranding.
- The company’s portfolio’s scale and diversification are further enhanced by sector tailwinds. The track record of managing hotels efficiently.
- It’s ability to create operating efficiencies and long-term performance using analytics tools. The company’s has strong governance and seasoned management team.
KEY STRATEGIES
- Its hotels are positioned to benefit from favorable demand trends in the hospitality industry and enhance operating efficiencies.
- Complete development of identified opportunities that are currently under development. Integrate the ACIC Portfolio to drive enhanced performance.
- Pursue growth opportunities via programmatic capital deployment, tactical mergers and acquisitions.
- Ensure disciplined capital allocation and reduction of debt.
KEY CONCERNS
- Business is subject to seasonal and cyclical variations that could result in fluctuations in results of operations.
- A significant portion of revenues are derived from a few hotels and from hotels concentrated in a few geographical regions.
- Company experienced restated losses and negative net worth in recent years.
- The hospitality industry is intensely competitive and company inability to compete effectively may adversely affect business, results of operations and financial condition.
- Company subject to extensive government regulation with respect to safety, health, environmental, real estate, excise and labor laws.
COMPARISON WITH LISTED INDUSTRY PEERS (AS ON 31ST MARCH 2023)
.avif)
FINANCIALS (RESTATED CONSOLIDATED)
.avif)
OUTLOOK & VALUATION
SAMHI Hotels Limited is a branded hotel ownership and asset management platform in India. The company has a track record of successfully renovating or rebranding hotels to improve performance, and it actively pursues growth prospects through tactical mergers, acquisitions and programmatic capital investment.
SHL, is currently a loss-making hospitality company. The company's financial performance has been poor for the last three years, but it is making progress on cutting losses. But business is subject to seasonal and cyclical variations that could result in fluctuations in the results of operations.
The company is loss-making, so we do not have a P/E ratio. However, its sales multiple is 3.7X, which is below when compared to the industry average. However, as the company is in financial trouble, we won't apply for this IPO.
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The information contained herein are strictly confidential and are meant solely for the information of the recipient and shall not be altered in any way, transmitted to, copied or distributed, in part or in whole, to any other person or to the media or reproduced in any form, without prior written permission of Swastika Investmart Ltd. (“SIL”). The contents of this document are for information purpose only. This document is not an investment advice and must not alone be taken as the basis for an investment decision. Before taking any decision to invest, the recipient of this document must read carefully the Red Herring Prospectus (“RHP”) issued to know the details of IPO and various risks and uncertainties associated with the investment in the IPO of the Company. All recipients of this document must before acting on the given information/details, make their own investigation and apply independent judgment based on their specific investment objectives and financial position. They can also seek appropriate professional advice from their own legal and tax consultants, advisors, etc. to understand the risks and investment considerations arising from such investment. The investor should possess appropriate resources to analyze such investment and the suitability of such investment to such investor’s particular circumstances before making any decisions on the investment. The Investor shall be solely responsible for any action taken based on this document. SIL shall not be liable for any direct or indirect losses arising from the use of the information contained in this document and accept no responsibility for statements made otherwise issued or any other source of information received by the investor and the investor would be doing so at his/her/its own risk. The information contained in this document should not be construed as forecast or promise or guarantee or assurance of any kind. The investors are not being offered any assurance or guaranteed or fixed returns on their investments. The users of this document must bear in mind that past performances if any, are not indicative of future results. The actual returns on investment may be materially different than the past. Investments in Securities market products and instruments including in the IPO of the Company are highly risky and they are generally not an appropriate avenue for someone with limited resources/ limited investment and low risk tolerance. Such Investments are subject to market risks including, without limitation, price, volatility and liquidity and capital risks. Therefore, the users of this document must carefully consider all the information given in the RHP including the risks factors before making any investment in the Equity Shares of the Company.
Swastika Investmart Ltd or its analysts did not receive any compensation or other benefits from the companies mentioned in the report or third party in connection with preparation of the research report. Accordingly, neither Swastika Investmart Ltd nor Research Analysts have any material conflict of interest at the time of publication of this report. Compensation of our Research Analysts is not based on any specific merchant banking, investment banking or brokerage service transactions. Swastika Investment Ltd may have issued other reports that are inconsistent with and reach different conclusion from the information presented in this report. Research entity has not been engaged in market making activity for the subject company. Research analyst has not served as an officer, director or employee of the subject company. We have not received any compensation/benefits from the Subject Company or third party in connection with the Research Report.
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अमेरिकी डॉलर इंडेक्स में मजबूती से दबाव में सोना-चांदी।
पिछले सप्ताह फेडरल रिजर्व की एक रिपोर्ट से स्पष्ट हुआ है कि जुलाई और अगस्त में श्रम बाजार में सुस्ती और धीमी मुद्रास्फीति के दबाव के बीच अमेरिकी आर्थिक विकास मामूली रहा है, जिससे उम्मीदों को बल मिला कि केंद्रीय बैंक ने ब्याज दरों में बढ़ोतरी या तो कर दी है, या इसके अंत के करीब है। फेड की बीइंग बुक के मुताबिक जुलाई-अगस्त में आर्थिक विकास माध्यम रहा है। टूरिस्म खर्चो में बढ़ोतरी हुई है, जबकि रिटेल स्पेंडिंग में लगातार गिरावट देखने को मिल रही है। मूल्य वृद्धि धीमी हुई है, लेकिन फेड सर्वे के अधिकतर जिलों ने संकेत दिया कि इनपुट कॉस्ट वृद्धि बिक्री मूल्य से कम धीमी है, क्योकि कम होती मांग के कारण व्यापार बढ़ी हुई लागत को बिक्री मूल्य में शामिल करने में असमर्थ है। लेकिन, कच्चे तेल की कीमतों में बढ़ोतरी से मुद्रास्फीति फिर से बढ़ने की सम्भावना है जिससे यह अनुमान है की फेड सितम्बर में होने वाली बैठक में अपना रुख हॉकिश रखेगा। हालांकि, अमेरिका के आर्थिक आंकड़े यह दर्शाते है की अर्थव्यवस्था की स्तिथि अभी बेहतर बनी हुई है और उम्मीद है की आर्थिक मंदी इस साल के लिए टल जाएगी जिससे सुरक्षित आश्रय की मांग कम हुई है। उधर, चीन की अर्थव्यवस्था में सुस्ती, इसके आर्थिक आकड़ो में देखि जा सकती है जिससे अमेरिकी डॉलर के विरुद्ध चीन की मुद्रा में गिरावट देखि जा रही जिससे एशिया की अन्य अर्थव्यवस्थाओं की मुद्रा भी गिरावट की चपेट में आ गई है। यूरोपियन यूनियन की मुद्रा यूरो में डॉलर की तुलना में गिरावट बनी हुई है जिससे छः प्रमुख मुद्राओ का मापक अमेरिकी डॉलर इंडेक्स, में तेज़ी देखने को मिल रही है और कीमती धातुओं के भाव में दबाव बना हुआ है। इस सप्ताह अमेरिका मुद्रास्फीति, रिटेल सेल्स, कंस्यूमर सेंटीमेंट और यूरोपियन सेंट्रल बैंक की मॉनेटरी पॉलिसी, कीमती धातुओं के भाव के लिए महत्वपूर्ण रहेंगी।
तकनिकी विश्लेषण :
इस सप्ताह कीमती धातुओं के भाव सीमित दायरे में रहने की सम्भावना है। एमसीएक्स अक्टूबर वायदा सोने में सपोर्ट 58000 रुपये पर है और रेजिस्टेंस 60000 रुपये पर है। दिसंबर वायदा चांदी में सपोर्ट 68000 रुपये पर है और रेजिस्टेंस 75000 रुपये पर है।

R R Kabel Limited IPO Detail
R R Kabel Limited is one of the leading companies in the Indian consumer electrical industry (comprising wires and cables and fast- moving electrical goods (“FMEG”)), with an operating history of over 20 years in India. They sell products across two broad segments - (i) wires and cables including house wires, industrial wires, power cables, and special cables; and (ii) FMEG including fans, lighting, switches, and appliances.
OBJECTS OF THE ISSUE
- Repayment or prepayment of borrowings availed by the company from banks and financial institutions.
- General corporate purposes.



Tribhuvanprasad Rameshwarlal Kabra
Executive Chairman of the Company. He has completed his secondary level school education from Hindi High School, Mumbai. He has extensive experience in the electrical industry. Previously, he was associated with Shramik Winding Wires Private Limited as a director. He was appointed to RR Kabel’s Board of Directors with effect from May 13, 1997.
Shreegopal Rameshwarlal Kabra
Managing Director of the Company. He has extensive experience in the electrical industry. Previously, he was associated with the International Copper Association as the chairman of wire and cable product council and the Indian Electrical and Electronics Manufacturers’ Association as the president.
Mahendrakumar Rameshwarlal Kabra
Joint Managing Director of the Company. He has extensive experience in the electrical industry. Previously, he was associated with MEW Electricals Limited as a director. He was appointed to the Board of Directors with effect from February 6, 1995.
Rajesh Babu Jain
Chief Financial Officer of the Company. He joined the Company on July 1, 2000 and is responsible for heading the financial functions of the Company including leading various initiatives in the organization of business excellence and operational efficiency of the Company.
Dinesh Aggarwal
Chief Executive Officer of the Company. He joined the Company on December 16, 2022 and is responsible for handling the domestic business administration of the Company.
Himanshu Navinchandra Parmar
Company Secretary and Compliance Officer of the Company. He joined the Company on June 1, 2013 and is responsible for secretarial and legal functions of the Company. Previously, he has worked with MEW Electricals Limited.
Company Profile
- The company manufactures, markets, and sells wires and cables under the RR Kabel brand, and a variety of consumer electrical products, including fans and lights under the ‘RR’ and ‘Luminous Fans and Lights brands.
- RR Kabel was the first company in India to introduce low smoke zero halogens (“LS0H”) insulation technology in their wires and cables products and to introduce unilay core technology products. They have actively diversified and expanded their product portfolio in adjacent areas such as FMEG, both organically and inorganically.
- They have a dedicated team of 60 employees focused on research and development, of which 22 employees exclusively work on research and development involving FMEG products.
- The Company owns and operates two integrated manufacturing facilities which are located at Waghodia, Gujarat, the Waghodia Facility, and Silvassa, Dadra and Nagar Haveli and Daman and Diu (“Silvassa Facility”) in India,
COMPETITIVE STRENGTHS
- Scaled B2C business in the large and growing wire and cables industry. A diverse suite of products with global certifications and accreditations. Extensive domestic and global distribution network.
- Well-recognized consumer brands.
- Technologically advanced and integrated precision manufacturing facilities Well-positioned for growth in the FMEG segment.
- Experienced and committed professional management team.
KEY STRATEGIES
- Expand distribution and establish a leadership position for the wires and cables segment in India. Enhance the geographical footprint of their wires and cables segment.
- Capitalize on the market opportunity in the wires and cables segment. Enhance productivity and operational efficiencies.
KEY CONCERNS
- Increases or fluctuations in raw material prices may have a material adverse effect on the business. Distribution to the overseas market is dependent on a few distributors and significant changes to their business arrangements with these distributors may impact the business.
- The availability of counterfeit products could have an adverse effect on the business and its competitive position.
- They are subject to warranty claims, which may increase in the future and have a material adverse effect on the financial condition.
- The Company faces risks related to foreign currency fluctuations. The company faces significant competitive pressures in the business.
COMPARISON WITH LISTED INDUSTRY PEERS (AS ON 31ST MARCH 2023)
.avif)
FINANCIALS (RESTATED CONSOLIDATED)
.avif)
OUTLOOK & VALUATION
RR Kabel is a well-established player with strong brand recall and quality products. The company has a diverse product portfolio and an extensive domestic and global distribution network, and it is working on strategies for further enhancement as well. Other than the wire and cable industries, they are also well-positioned for growth in the FMEG segment.
Financial performance has been mixed, where there is growth in revenue and net worth but pressure on its margins with declining profits. The issue size is around 1964 crore, but most of its portion belongs to the offer for sale. Finally, the IPO is coming at a P/E valuation of around 60.5x, which is looking high-priced.
Due to the high valuation and current market sentiments, we will avoid this IPO for listing benefits. However, it could be a good pick for the long term, and investors may consider it during any post-listing correction.

Ratnaveer Precision Engineering Limited IPO Details
Ratnaveer Precision Engineering Limited is a stainless steel (“SS”) product manufacturer focused on producing finished sheets, washers, solar roofing hooks, pipes, and tubes. Their products find application across various industries and their products are used in both commercial and residential sectors and are sold within India and overseas.
OBJECTS OF THE ISSUE
- Funding working capital requirements of the company.
- General corporate purposes.



Vijay Ramanlal Sanghavi
Chairman, Managing Director and Chief Financial Officer of the Company. He has been associated with the Company since its incorporation. He has over two decades of experience in ferrous and nonferrous metal industries.
Babulal Sohanlal Chaplot
Whole time Director of the Company. He has over four decades of experience and has worked in different sectors such as metals, agriculture, automobile etc. He has been associated with the Company since past fifteen years and has been acting as a Director on the Board since 2011. He oversees production as well as commercial functions.
Prerana Rajeshbhai Trivedi
Company Secretary & Compliance Officer of the Company. She is an associate member of the Institute of Company Secretaries of India. She has over 5 years of experience in secretarial and compliance field.
Nanubhai Panchal
Chief Operating Officer of the Company. He has been associated with the Company since 2011. He holds Diploma degree in Mechanical Engineering. He has over 50 years of experience in terms of consultant as well as employee of the various Company.
COMPANY PROFILE
- Ratnaveer precision engineering limited operates out of four manufacturing units, out of which two (Unit-I and Unit-II) are located at GIDC, Savli, Vadodara, Gujarat, one (Unit-III) is located at Waghodia, Vadodara, Gujarat and the other one (Unit-IV) is located at GIDC, Vatva, Ahmedabad, Gujarat..
- They manufacture SS finishing sheets, SS washers and SS solar mounting hooks at their Unit I and SS pipes and tubes at their Unit II. Unit III and Unit IV are dedicated for the backward integration process. They intend to expand their portfolio of SS washers by adding circlips into the product line. They currently offer over 2500 SKUs of SS washers to their customers including inner ring washers, spring washers, nord lock washers, retaining rings, internal tooth washers and external tooth washers of different sizes and specifications.
- The Company has undertaken R&D activity for developing circlips, has developed the required tools, and identified prospective customers.
COMPETITIVE STRENGTHS
- Synergistic Business Model focused on Backward Integration. Consistent financial performance.
- Wide product portfolio and multiple designs. R&D set up for new product development. Customer Diversification.
- Synergy of young and experienced management team with a committed employee base. Effective quality control checks.
KEY STRATEGIES
- Diverse, longstanding, and growing global customer base.
- Continue to add to the product portfolio by introducing new designs.
- Technology integration and plant automation for cost efficiency and improved productivity.
KEY CONCERNS
- Pricing in the steel industry is subject to market demand, volatility, and economic conditions. Fluctuations in steel prices may have a material adverse impact on their business.
- They are dependent on a few customers for a major part of their revenues.
- Their business requires a significant amount of working capital primarily as a considerable amount of time passes between the purchase of raw materials and the collection of receivables post-sales to customers.
- This business is a high-volume low-margin business.
- They operate in a highly competitive and fragmented industry with low barriers to entry. The Company has a high debt to equity ratio.
COMPARISON WITH LISTED INDUSTRY PEERS (AS ON 31ST MARCH 2023)

FINANCIALS (RESTATED CONSOLIDATED)

OUTLOOK & VALUATION
Ratnaveer Precision Engineering Limited is a manufacturer of stainless steel products with a wide range of products and multiple designs. The company has a backward-integrated business model, which gives it control over the supply chain, and a research and development (R&D) setup for new product development. It has also reported strong financial performance in the last three years.
However, the steel industry is subject to market volatility and economic conditions. Additionally, it is a highly competitive industry. The major concern for investors here is the high debt-to-equity ratio and low-margin business. However, the IPO is coming at a fair price-to-earnings (P/E) valuation of 13.49x.
Thus, after considering all the factors, we suggest applying for this IPO for listing gain.
DISCLAIMER:
The information contained herein are strictly confidential and are meant solely for the information of the recipient and shall not be altered in any way, transmitted to, copied or distributed, in part or in whole, to any other person or to the media or reproduced in any form, without prior written permission of Swastika Investmart Ltd. (“SIL”). The contents of this document are for information purpose only. This document is not an investment advice and must not alone be taken as the basis for an investment decision. Before taking any decision to invest, the recipient of this document must read carefully the Red Herring Prospectus (“RHP”) issued to know the details of IPO and various risks and uncertainties associated with the investment in the IPO of the Company. All recipients of this document must before acting on the given information/details, make their own investigation and apply independent judgment based on their specific investment objectives and financial position. They can also seek appropriate professional advice from their own legal and tax consultants, advisors, etc. to understand the risks and investment considerations arising from such investment. The investor should possess appropriate resources to analyze such investment and the suitability of such investment to such investor’s particular circumstances before making any decisions on the investment. The Investor shall be solely responsible for any action taken based on this document. SIL shall not be liable for any direct or indirect losses arising from the use of the information contained in this document and accept no responsibility for statements made otherwise issued or any other source of information received by the investor and the investor would be doing so at his/her/its own risk. The information contained in this document should not be construed as forecast or promise or guarantee or assurance of any kind. The investors are not being offered any assurance or guaranteed or fixed returns on their investments. The users of this document must bear in mind that past performances if any, are not indicative of future results. The actual returns on investment may be materially different than the past. Investments in Securities market products and instruments including in the IPO of the Company are highly risky and they are generally not an appropriate avenue for someone with limited resources/ limited investment and low risk tolerance. Such Investments are subject to market risks including, without limitation, price, volatility and liquidity and capital risks. Therefore, the users of this document must carefully consider all the information given in the RHP including the risks factors before making any investment in the Equity Shares of the Company.
Swastika Investmart Ltd or its analysts did not receive any compensation or other benefits from the companies mentioned in the report or third party in connection with preparation of the research report. Accordingly, neither Swastika Investmart Ltd nor Research Analysts have any material conflict of interest at the time of publication of this report. Compensation of our Research Analysts is not based on any specific merchant banking, investment banking or brokerage service transactions. Swastika Investment Ltd may have issued other reports that are inconsistent with and reach different conclusion from the information presented in this report. Research entity has not been engaged in market making activity for the subject company. Research analyst has not served as an officer, director or employee of the subject company. We have not received any compensation/benefits from the Subject Company or third party in connection with the Research Report.
CORPORATE & ADMINISTRATIVE OFFICE - 48, Jaora Compound, M.Y.H. Road, Indore - 452 001 | Phone 0731 - 6644000
Compliance Officer: Ms. Sheetal Duraphe Email: compliance@swastika.co.inPhone: (0731) 6644 241
Swastika Investmart Limited, SEBI Reg. No. : NSE/BSE/MSEI: INZ000192732 Merchant Banking: INM000012102 Investment Adviser: INA000009843 MCX/NCDEX: INZ000072532 CDSL/NSDL: IN-DP-115-2015 RBI Reg. No.: B-03-00174 IRDA Reg. No.: 713.

ग्लोबल अर्थव्यवस्था में ठंडक से तेज़ सोना-चांदी।
सोने की कीमतें तीन सप्ताह के उच्चतम स्तर के करीब पहुंच गई है, क्योंकि अमेरिका से कमजोर आर्थिक आकड़ो से अटकलें लगाईं जा रही है कि फेडरल रिजर्व के पास ब्याज दरें बढ़ाने के लिए बहुत कम गुंजाइश है। पिछले सप्ताह सोने में मजबूत बढ़त देखी गई क्योंकि कमजोर अमेरिकी जीडीपी और रोजगार आंकड़ो ने डॉलर और ट्रेजरी यील्ड को कम कर दिया। चीनी आर्थिक मंदी की बढ़ती आशंकाओं के बीच सोने की सुरक्षित निवेश मांग में भी वृद्धि देखी गई, क्योंकि एशिया की सबसे बड़ी अर्थव्यवस्था चीन के आंकड़े मंदी की और संकेत कर रहे है। चीन के आंकड़ों से पता चला है कि मैन्युफैक्चरिंग सेक्टर अगस्त में लगातार पांचवें महीने सिकुड़ गया है, जबकि नॉन-मैन्युफैक्चरिंग विकास भी धीमा हो गया है। आर्थिक आकड़ो ने चीन में निरंतर आर्थिक कमजोरी की ओर इशारा किया है, जबकि चीन ने अर्थव्यवस्था को समर्थन देने के लिए और अधिक प्रोत्साहन उपाय करना जारी रखा है। फोकस अब चीन के अधिक प्रोत्साहन उपायों पर है, खबरों से स्पष्ट होता है कि पीपुल्स बैंक ऑफ चाइना तरलता को बढ़ावा देने के लिए मॉर्गेज और युआन जमा दरों को और कम करने की योजना बना रहा है, और फॉरेक्स रिज़र्व रेक्विरेमेंट रेश्यो को पिछले सप्ताह कम कर दिया है। अमेरिकी डॉलर, जो सोने के विपरीत दिशा में चलता है, पिछले सप्ताह 1 प्रतिशत तक लुढ़क गया और बेंचमार्क अमेरिकी बांड यील्ड उच्च स्तरों से पीछे हट गई है जिससे सोने और चांदी की चमक बढ़ती दिखाई दी है। पिछले सप्ताह एमसीएक्स में ऑक्टूबर वायदा सोना और दिसंबर वायदा चांदी में 1.5 प्रतिशत बढ़ोतरी दर्ज की गई है। अमेरिका ब्याज दरें अधिक होने के बावजूद कोर पीसीई प्राइस इंडेक्स के आंकड़े स्थिर रहे जबकि पर्सनल स्पेंडिंग में बढ़ोतरी दर्ज की गई है। लेकिन ऊंची दरों के बीच अगर वैश्विक आर्थिक हालात बिगड़ते हैं तो इस साल भी सोने में कुछ मजबूती देखने को मिल सकती है। हाल के अमेरिकी जीडीपी आंकड़ों से पता चला है कि साल की पहली छमाही में आर्थिक मंदी का असर नहीं होने के बावजूद, दुनिया की सबसे बड़ी अर्थव्यवस्था अभी ठंडी पड़ी हुई है। त्यौहार सीजन के पहले कीमती धातुओं में घरेलु मांग बढ़ने के आसार है, और भारत में अलनीनो प्रभाव के चलते 122 साल में अब तक सबसे कम बारिश हुई है जिससे फ़ूड इन्फ्लेशन बढ़ने की सम्भावना भी है, जो कीमती धातुओं के भाव को सपोर्ट कर सकता है।
तकनिकी विश्लेषण
इस सप्ताह कीमती धातुओं के भाव में तेज़ी बनी रहने की सम्भावना है। एमसीएक्स अक्टूबर वायदा सोने में सपोर्ट 58800 रुपये पर है और रेजिस्टेंस 60500 रुपये पर है। दिसंबर वायदा चांदी में सपोर्ट 74000 रुपये पर है और रेजिस्टेंस 78000 रुपये पर है।

Rishabh Instruments IPO Review - Date, Price, GMP, Details

Rishabh Instruments Limited is a global energy efficiency solution company focused on electrical automation, metering and measurement, precision engineered products, et al. with diverse applications across industries including power, automotive and industrial sectors. The company supply a wide range of electrical measurement and process optimization equipment, and is engaged in designing, developing and manufacturing, and sale of devices significantly under their own brand across several sectors.
OBJECTS OF THE ISSUE
- Financing the cost towards the expansion of Nashik Manufacturing Facility I.
- General corporate purposes.


KEY MANAGERIAL PERSONNEL
Narendra Joharimal Goliya
Chairman and Managing Director of the Company. He is the founder and Promoter of the Company. He has been associated with the Company since its incorporation and accordingly has over four decades of experience in the manufacturing and electrical industry.
Dineshkumar Musalekar
Group CEO. He has been associated with Lumel since January 16, 2014. He holds a bachelor’s degree of engineering (electronics and communication) from the Karnatak University Dharwad and a master’s degree in human resources development management from Somaiya Institute of Management Studies and Research, University of Mumbai.
Nitinkumar Sudhir Deshpande
Head – Marketing, Business Development and Profit Centre Head of the Company. He has been associated with the Company since July 8, 2018. He holds a bachelor’s degree of engineering (electrical engineering) from the University of Mumbai. He was previously associated with ABB Limited, Siemens Limited and Schneider Electric India Pvt Limited.
Vishal Prabhakar Kulkarni
Chief Financial Officer of the Company.He has been associated with the Company since July 21, 2014. He holds a master’s degree in commerce from the University of Pune. He is an associate member of the Institute of Company Secretaries of India. He was previously associated with Techno Force (I) Pvt Ltd. and ThyssenKrupp Electrical Steel India Private Limited.
Ajinkya Joglekar
Company Secretary and Compliance Officer of the Company. He has been associated with the Company since August 8, 2022. He holds a bachelor’s degree in commerce from the Rashtrasant Tukadaji Maharaj Nagpur University. He is an associate member of the ICSI. He was previously associated with Galactico Corporate Services Limited.
COMPANY PROFILE
- Rishabh Instruments provides comprehensive solutions to their customers looking for cost-effective ways to measure, control, record, analyse and optimise energy and processes through their array of products.
- They also provide complete aluminium high pressure die casting solutions for customers requiring close tolerance fabrication, machining and finishing of precision components.
- Rishabh Instruments has 4 segments: (a) electrical automation devices; (b) metering, control, and protection devices; (c) portable test and measuring instruments; and (d) solar string inverters.
- The Company manufactures all the products in-house from their five manufacturing facilities – two in India, two in Poland and one in China.
- They primarily follow a business-to-business model which is purchase order based for all their segments except portable test and measuring instruments which is also sold on a merchant basis.
- The Company have an extensive network of 175 authorized distributors/stockists across 81 districts in India with direct sales conducted through eight sales and marketing offices.
COMPETITIVE STRENGTHS
- Ability to drive technology and innovation through advanced research and development. Global engineering solution provider operating in large addressable markets.
- Vertically integrated operations, backed by strong manufacturing capabilities. Diversified product portfolio & wide customer base.
- Track record of successful integration of acquired businesses or entities across geographies Well-established and recognised brand
- Committed Promoters, Board and management team.
KEY STRATEGIES
- Enhance product innovation, engineering and design competence while focussing on higher value addition .
- Expanding geographical footprint.
- Continue to pursue their strategy for inorganic growth.
- Target new customers and expand existing customer accounts . Explore opportunities to tap emerging products and services segments. Promote product localization.
KEY CONCERNS
- Failure to manage component and material purchasing and shortages in the supply of their major production inputs could adversely affect the operation.
- The Company faces risks associated with their international sales and multi-location operations in various geographies. Foreign exchange fluctuations related risk is also there.
- They export their products to various countries, on account of which they may be subject to significant import duties or restrictions.
- Most of Their customers do not commit to long term contracts.
- Dependence on their own Subsidiaries exposes them to significant operational and financial risk. Shortages in the supply of semiconductors have had, and may continue to have, a adverse effect on business.
COMPARISON WITH LISTED INDUSTRY PEERS (AS ON 31ST MARCH 2023)
As mentioned in Company's RHP, there are no comparable listed companies in India or globally that engage in a business similar to that of Rishabh Instruments Limited. Accordingly, it is not possible to provide an industry comparison in relation to this Company
FINANCIALS (RESTATED CONSOLIDATED)
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OUTLOOK & VALUATION
Rishabh Instruments is a multinational company offering energy efficiency solutions. The company has a diverse product portfolio and a vertically integrated operation. The company is operating globally in a large, addressable market. Their brands ‘Rishabh’, ‘Lumel’, Sifam, and ‘Tinsley’ are well recognised in multiple countries. The financial position of the company is currently not very attractive, but it is stable.
However, multi-location operations and global sales raise concerns related to international exposure. Secondly, any kind of shortage in their production inputs, like semiconductors, could also impact their business. The IPO is coming at a P/E valuation of 34.34x. Though the company does not have any listed peers to compare, its valuation is looking high in general. We will recommend this IPO only for high-risk investors.
DISCLAIMER:
The information contained herein are strictly confidential and are meant solely for the information of the recipient and shall not be altered in any way, transmitted to, copied or distributed, in part or in whole, to any other person or to the media or reproduced in any form, without prior written permission of Swastika Investmart Ltd. (“SIL”). The contents of this document are for information purpose only. This document is not an investment advice and must not alone be taken as the basis for an investment decision. Before taking any decision to invest, the recipient of this document must read carefully the Red Herring Prospectus (“RHP”) issued to know the details of IPO and various risks and uncertainties associated with the investment in the IPO of the Company. All recipients of this document must before acting on the given information/details, make their own investigation and apply independent judgment based on their specific investment objectives and financial position. They can also seek appropriate professional advice from their own legal and tax consultants, advisors, etc. to understand the risks and investment considerations arising from such investment. The investor should possess appropriate resources to analyze such investment and the suitability of such investment to such investor’s particular circumstances before making any decisions on the investment. The Investor shall be solely responsible for any action taken based on this document. SIL shall not be liable for any direct or indirect losses arising from the use of the information contained in this document and accept no responsibility for statements made otherwise issued or any other source of information received by the investor and the investor would be doing so at his/her/its own risk. The information contained in this document should not be construed as forecast or promise or guarantee or assurance of any kind. The investors are not being offered any assurance or guaranteed or fixed returns on their investments. The users of this document must bear in mind that past performances if any, are not indicative of future results. The actual returns on investment may be materially different than the past. Investments in Securities market products and instruments including in the IPO of the Company are highly risky and they are generally not an appropriate avenue for someone with limited resources/ limited investment and low risk tolerance. Such Investments are subject to market risks including, without limitation, price, volatility and liquidity and capital risks. Therefore, the users of this document must carefully consider all the information given in the RHP including the risks factors before making any investment in the Equity Shares of the Company.
Swastika Investmart Ltd or its analysts did not receive any compensation or other benefits from the companies mentioned in the report or third party in connection with preparation of the research report. Accordingly, neither Swastika Investmart Ltd nor Research Analysts have any material conflict of interest at the time of publication of this report. Compensation of our Research Analysts is not based on any specific merchant banking, investment banking or brokerage service transactions. Swastika Investment Ltd may have issued other reports that are inconsistent with and reach different conclusion from the information presented in this report. Research entity has not been engaged in market making activity for the subject company. Research analyst has not served as an officer, director or employee of the subject company. We have not received any compensation/benefits from the Subject Company or third party in connection with the Research Report.
CORPORATE & ADMINISTRATIVE OFFICE - 48, Jaora Compound, M.Y.H. Road, Indore - 452 001 | Phone 0731 - 6644000
Compliance Officer: Ms. Sheetal Duraphe Email: compliance@swastika.co.inPhone: (0731) 6644 241
Swastika Investmart Limited, SEBI Reg. No. : NSE/BSE/MSEI: INZ000192732 Merchant Banking: INM000012102 Investment Adviser: INA000009843 MCX/NCDEX: INZ000072532 CDSL/NSDL: IN-DP-115-2015 RBI Reg. No.: B-03-00174 IRDA Reg. No.: 713.
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