Whalesbook
IPO ke baad Stock mein Toofani Bhaag-daud!
Central Mine Planning & Design Institute (CMPDI) jab March mein list hua tha, toh shuru mein laga tha ki shayad utna kuch khaas nahi hoga, kyunki listing discount par thi. Lekin ab kya hua? Stock ne seedha 13% se zyada gain kar liya hai! 17 April ko toh ₹187.85 ka all-time high bhi bana diya. Ab sabki nazar 21 April ko aane wale pehle quarterly results par hai, jisse pata chalega ki Company asal mein kaisa perform kar rahi hai. Saath hi, Board FY26 ke liye final dividend dene par bhi soch-vichar karega. Ye sab isliye important hai kyunki ye CMPDI ka IPO ke baad pehla official financial report hoga.
Valuation aur Sector ka Kya Scene Hai?
CMPDI jo mining sector mein hai, uska future kaafi bright dikh raha hai. Desh mein electricity ki demand badh rahi hai aur industrial growth bhi ho rahi hai. India ka mining sector stable hai aur Coal ki demand toh badhne hi wali hai.
CMPDI ka valuation dekhein toh iska Price-to-Earnings (P/E) ratio 15.5x se 18.4x ke beech mein lag raha hai. Yeh toh generally iske competitors se kaafi attractive hai. Haan, apni parent company Coal India (jo around 8.0x-10.1x par trade kar rahi hai) se thoda upar hai, aur NLC India (around 10.8x-16.0x) se bhi thoda zyada. CMPDI ka market cap abhi around ₹12,000-₹13,000 crore hai. Ye numbers dikha rahe hain ki market ko CMPDI se growth ki kaafi umeed hai.
Dhyan Dene Wali Baatein (Risks)
Par har chamakti cheez sona nahi hoti. CMPDI ki revenue ka 65% se zyada hissa toh sirf Coal India se aata hai. Agar Coal India ne apne plans badle, toh CMPDI ko dikkat ho sakti hai. Government ke saath kaam karne mein payments delay hone ka risk rehta hai aur regulatory checks bhi zyada hote hain.
Ek aur baat, IPO mein naye paise raise nahi hue the kyunki ye Offer-for-Sale (OFS) tha. Abhi stock ka rally impressive hai, par agar growth kam hui ya demand thodi dheemi padi, toh valuation thoda stretched lag sakta hai. Company ne 1 se 24 April tak trading window band rakhi hai, jo ki normal hai.
Future ka Plan Kya Hai?
CMPDI sirf coal par dependent nahi rehna chahta. Company non-coal mineral consultancy mein bhi enter karne ka plan bana rahi hai, jaise lithium aur copper. India mein mining sector government policies aur demand ki wajah se grow kar raha hai, jo CMPDI ke liye achha hai. IPO ke time analysts positive the aur 'SUBSCRIBE' rating de rahe the. Ab yeh first results batayenge ki ye valuation justified hai ya nahi.