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Below are Quote On Heranba Ind Ltd By Mr. Keshav Lahoti, Associate Equity Analyst, Angel Broking Ltd

Heranba Industries has a robust past track record of performance. In the future, we expect Company to gain market share and improve margins. Company has priced its issue at 22.1x PE on a trailing basis, which is quite reasonable by looking at the future prospects of the Company. Its peers such as Rallis India, Sumitomo Chemicals and Bharat Rasayan are trading at 23.1x, 47.3x and 27.0x PE on a trailing basis respectively. Company return ratios are superior to peers (ROE is above 30%). Company has a strong financial position and has been generating positive cash flow. We expect a good listing for the Company. We are positive on the long term prospects of the Company, we recommend "SUBSCRIBE" to the Heranba Industries IPO for long term as well as for listing gains.  

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