BLUE PEBBLE- The next high growth SME?

Sumarising my study of Blue Pebble Ltd.- an interior design company, focused on Office Space Designing contracts.

M Cap– 121 cr
PE– 32

Revenue (FY 24)- 22 cr
OPM– 22.8 %
PAT– 5 cr

Order Book– 20 cr+
Revenue Guidance– 100%+ growth for FY 25

Business Overview:

THESIS POINTERS:

1. Company is clearly great at what they do – website displays their top projects.
2. Have a great client list which is growing. (Infosys, google, 3M, Nestle etc)
3. Execution timelines are quick, order book likely to be executed within the year
   
4. Industry– High growth projections for both Real Estate and commercial space
5. Can scale through geographical expansion- key growth lever
6. OPM optimization to be a key PAT driver in future
7. Zero Debt company
8. Strong and experienced promoters- next generation has already joined the business

ANTITHESIS POINTERS

1. Competitive space- difficult to increase OPMs.
2. Growth dependant on growth of commercial spaces

Need more inputs on the company from Valuepickr members.

Disc- Invested