Evans Electric Limited works in the area of re-designing, repairing, and re-winding of transformer, generator, and electric motor with in-house manufactured replacement components. This is mainly Mumbai-based company. The article will explain Evans Electric IPO Review along with company summary.
Evans Electric IPO Issue Details :
- IPO Opens on – April 30, 2019.
- IPO Closes on – May 3, 2019.
- Face Value – Rs. 10 Per Equity Share.
- Issue Price – Rs. 52 Per Equity Share.
- Issue Type – Fixed Price Issue IPO.
- Market Lot – 2000 Shares.
- Minimum Order Quantity – 2000 Shares.
- Issue Size – 372,00 Equity Shares of Rs. 10 aggregating up to Rs. 1.93 Cr.
- Listing Exchange – BSE SME Exchange.
- Draft Prospectus – Click Here
Objectives of the issue of the Company :
- To Meet Working Capital Requirements of Evans Electric Limited.
- General Corporate purpose of this company.
- To Meet the Issue Expenses of Evans Electric Limited.
About The Company –
- Evans Electric Limited was incorporated in 1951.
- Some of the products manufactured by this company for replacement purposes are insulation components, brush holders, coils, slip rings, insulators, retaining rings, allied specialized equipment and tools, wedges, stampings and packers.
- Evans Electric Limited has a factory unit covering 30,000 sq. ft area located at Palghar, Maharashtra providing repairing and rewinding services and manufacturing replacement components.
- This company also provides contract based services for repairing of turbo rotors, low voltage and high voltage electric motors (AC and DC), turbo generator stators, transformers, generators, hydro rotors, hydro generator stators, field poles, high voltage coil manufacturing, diagnostic testing, high voltage coil manufacturing, and vacuum impregnation.
- Evans Electric Limited also provides contract based services to foreign countries and has been successfully executed orders from Sri Lanka, Malaysia and Bangladesh.
- This company has a wide client base covering various sectors including railways, oil and gas refineries, cement, chemicals and fertilizers, shipping, steel plants, offshore gas and oil exploration, renewable energy, gas, diesel, nuclear, and thermal power generation.
Factory : Plot 22, Genesis Industrial Complex,
Off Palghar Boisar Road, PALGHAR – 401404,
Dist. Thane, (W.R.), Maharashtra, India.
Office : 430, Orchard Mall, 3rd Floor,
Royal Palms Estate, Aarey Milk Colony,
Goregaon (East), MUMBAI – 400 065.
The promoter of Evans Electric Limited :
- Ivor Anthony Desouza, aged 72 years, is Promoter, Chairman and NonExecutive Director of this Company.
The Board of Directors of this company :
- Mr. Ivor Anthony Desouza, aged 72 years is the Chairman and Non-Executive Director of this company.
- Mr. Nelson Lionel Fernandes, aged 68 years is the Managing Director of this Company.
- Mrs. Iyleen Matilda Fernandes, aged 72 years is the Whole time Director of this Company.
- Mr. Anil Vasudev Kamath is an Independent Director of this Company.
- Mr. Frederick Joseph Vaz is an Independent Director of this Company.
Competitive Strengths of Evans Electric Limited :
- The main competitive strength of Evans Electric Limited is their versatility in taking on the most complex machines irrespective of Capacity, Size, Design or Country of manufacture.
- Experienced Promoter Management team supported by skilled work force of this company.
- Evans Electric Limited’s substantial space for Factory site with infrastructure required for business needs.
- Another strength of this company is their customer centric approach and focus on customer satisfaction.
- Quality Compliance of Evans Electric Limited.
Business strategies of this company :
- Main business strategies of Evans Electric Limited is increasing the international market presence.
- Continue to focus on optimal utilization of resources of this company.
- Attract and retain talented employee are another business strategies of Evans Electric Limited.
Company Financials :
Evans Electric IPO Review:
The above details are linked to the profit-loss statement of the company, derived from DRHP (draft red herring prospectus). The profit amount is too low for the company. Now, without any delay, let’s have a quick look at the fundamental ratios. Basic and Diluted EPS (earnings per share) was 4.63 in FY18. P/E (price to earnings ratio) is not displaying in the DRHP. RoNW (return on net worth)was at 6.55. So, Evans Electric IPO Review carries NEGATIVE view. Investors should avoid the IPO.