The brokerage firm highlighted that the company's strong order book and diverse projects were its key strengths. While the PE ratio is consistent with industry standards, its return on net worth exceeds that of its competitors. It was noted that although FY23 had seen significant growth in both revenue and profit, FY24 experienced a slowdown due to the election year. The company’s cyclical nature exposes it to risks. According to Shivani Nyati, Head of Wealth at Swastika Investmart, investors with a higher risk appetite might consider applying for the IPO, seeing it as an opportunity for potential long-term growth.
