A new IPO has hit the market – Allied Blenders & Distillers Limited.
The company is being valued at 7600cr and has an EBITDA of about 200-250cr, with an EBITDA margin of ~7% and growth rate of 10-15%. (source: ABDL’s DRHP Pg 328)
Compared to this, Piccadily Agro, based on Q4 numbers, has an annualized EBITDA of 250cr, EBITDA margin >30%, growth rate >40%. Yet, its current marketcap is 7000cr – less than ABDL!!
Clearly, Piccadily Agro is extremely undervalued on market comparables basis.
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