Fundamentals and valuation

1. Total Issue Size - 500 Crore

2. Offer for sale or Fresh issue

   2.1 Offer for sale - 250 Crore 50% of total issue

   2.2 Fresh issue - 250 Crore 50% of total issue

3. Revenue Growth 23-24 Revenue is 209 Crores 55% growth from 22-23

   22-23 Revenue is 94 Crores 61% growth from 21-23

   21-22 Revenue is 36 Crores

4. Profit Growth 23-24 Profit is 58 Crores and 61% growth from 22-23

   22-23 Profit is 22 Crores and 85% growth from 21-22

   21-22 Profit is 3 Crores

5. Borrowing 23-24 borrowing outstanding was 12.5 Crores

   22-23 borrowing outstanding was 4.5 Crores

6. Reason for issue

   Funding capital expenditure for expansion through the purchase of machinery and equipment -13%

   Funding working capital requirements - 10%

   Investment in the Material Subsidiary - 52%

   general purpose - 25%

7. Subscription portion for

   QIB'S - 50%

   NII's - 15%

   Retail - 35%

8. Ratios

   P/E - Company is coming at 68 P/E if we compare with the peer companies

   HAL( Hindustan Aeronautics Limited) is trading at 32 P/E,

   Bharath Electronics trading at 46 P/E

   and Bharath Dynamics trading at 82 P/E.

   P/B - Company is coming at 21 P/B if we compare with the peer companies

   HAL( Hindustan Aeronautics Limited) is trading at 8 P/B,

   Bharath Electronics trading at 12 P/B.

   and Bharath Dynamics trading at 12 P/B.

9. Revenue from Geography

   India 2.36%

   United states 92.19%

   Others 5.45%

10. Revenue from Sector

    Aerospace sector - 99.35% of total revenue from operations