Orient Cables (India) Ltd

Orient Cables (India) IPO review covering the IPO price, financials, business model, growth prospects, valuation, key risks and factors investors should consider.

Orient Cables (India) IPO Review, GMP, Price & Analysis

View : Though Orient has a decent set of numbers and is one of the larger players in India's networking cable market, we'd be skipping it on account of its high valuation of 31x EV/EBITDA and concerns over deteriorating cash flow, working capital funded by debt, debt figures lowered through factoring and supplier finance, gaps between the stock and debtor statements filed with banks and the books in each of the last three years, a promoter family member being listed as a wilful defaulter, multiple entities subscribing to company shares and selling them to the promoters at a deep discount and other issues.