58  Total SME IPOs listed in 2025

2,593.84 Crs.  Total funds raised in 2025

40  SME IPOs listed with Gain in 2025

18  SME IPOs listed with loss in 2025

58  Total SME IPOs listed in 2025

2593.84 Crs.  Total funds raised in 2025

40  SME IPOs listed with Gain in 2025

18  SME IPOs listed with loss in 2025

58  Total SME IPOs listed in 2025

2593.84 Crs.  Total funds raised in 2025

40  SME IPOs listed with Gain in 2025

18  SME IPOs listed with loss in 2025

58  Total SME IPOs listed in 2025

2593.84 Crs.  Total funds raised in 2025

40  SME IPOs listed with Gain in 2025

18  SME IPOs listed with loss in 2025

Spinaroo Commercial Limited IPO Analysis

Spinaroo Commercial IPO is a book build IPO listing on BSE SME exchange. The company is based in Kolkata and caters to Aluminium sector. Finshore Management Services is the merchant banker of Spinaroo Commercial IPO. It is a SME IPO which filed its Draft Red Herring Prospectus (DRHP) on 21st November 2024.

Spinaroo Commercial IPO posted revenues of Rs 42.04 crores and PAT of Rs 1.22 crores in FY25 on annualised basis.

Nature of IPO : SME
Exchange : BSE SME
IPO Type : Fixed Price

Spinaroo Commercial IPO Financial Performance (Restated)

Financial results of Spinaroo Commercial IPO based on restated financials as per prospectus and IPO review parameters can be referred to below.

Amount in ₹ crores
Financials
30-Sep-24
FY24
FY23
FY22
Balance Sheet
Assets
21.94
19.05
19.48
17.82

Net Worth
6.64
6.03
4.63
3.70

Total Debt
7.43
7.40
8.01
8.64

Profit & Loss
Revenue
Revenue on annualised basis
21.01
42.02
40.84
53.12
47.44

EBITDA
EBITDA on annualised basis
1.33
2.66
2.64
2.19
2.17

PAT
PAT on annualised basis
0.61
1.22
1.40
0.93
0.52

Notes:
1) Total debt incluides long-term borrowings and short-term borrowings.
2) Revenue means the Revenue from Operations as appearing in the Restated Financial Statements.

Spinaroo Commercial IPO Key performance Indicators (KPI)

Spinaroo Commercial IPO PAT Margin is 2.90%, ROCE (Return on Capital Employed) is [●]% as per latest financial. The below table shows Spinaroo Commercial IPO Key Performance Indicators (KPI) as mentioned in company’s prospectus.

Particulars
30-Sep-24
FY24
FY23
FY22

EBITDA Margin (%)
6.33
6.46
4.12
4.57

PAT Margin (%)
2.90
3.43
1.75
1.10

EPS (Rs.)
1.23
2.80
1.86
1.04

ROE (%)
9.19
23.22
20.09
14.05

ROCE (%)
[●]
[●]
[●]
[●]

ROA (%)
2.78
7.35
4.77
2.92

Debt to Equity (x)  
1.12
1.23
1.73
2.34

Notes:
1) The EPS represents post-bonus basic EPS.
2) Return on Equity is ratio of Profit after Tax and Total Equity.
3) Return on Assets is ratio of Profit after Tax and Total Assets.
4) Debt to Equity is ratio of Total borrowings and Total Equity.

Spinaroo Commercial IPO Valuation Metrics

The market Capitalisation of Spinaroo Commercial IPO is Rs 35.67 crores at the time of IPO and other IPO valuation metrics of this IPO is mentioned below.

Key Metrics (at the time of IPO)


Market Capitalisation (Rs. Cr.):
35.67

Enterprice Value (EV) (Rs. Cr.):
42.58

EV/EBITDA (times) :
16.01

PE Multiple (times) :
29.01

P/B (times) :
2.12

NAV (Rs.) :
13.29

Notes:
1) The Enterprise Value is calculated as Market Cap. + Total Debt - Cash and Cash Equivalents.
2) Price to Book multiple is calculated as the ratio of Market Cap. and Net Worth post IPO proceeds.

What are the key financial metrics in Spinaroo Commercial prospectus?

The Spinaroo Commercial IPO prospectus highlights an Return on Equity (ROE) of 15%, Return on Assets (ROA) of 12%, and an EBITDA Margin of 18%, showcasing financial performance.

How do profitability ratios impact the evaluation of Spinaroo Commercial IPO?

Profitability ratios like Return on Equity (ROE), Return on Assets (ROA), and Net Profit Margin shows Spinaroo Commercial IPO financial report. Analysing these metrics can provide insights into the company’s efficiency, profitability, and long-term growth potential.

What is the market capitalisation for Spinaroo Commercial IPO ?

The post-IPO market capitalisation of Spinaroo Commercial IPO is ₹35.67 Cr, based on the issue price and share structure. It helps investors gauge the company’s valuation and compare it with industry peers before investing.

What is the PE Multiple of Spinaroo Commercial IPO?

The Spinaroo Commercial IPO has a Price-to-Earnings (PE) ratio of 29.01 X, indicating valuation compared to industry peers. It helps investors determine if the stock is overvalued or undervalued compared to its earnings and industry peers.

What is the Revenue of Spinaroo Commercial IPO?

Spinaroo Commercial IPO reported revenue of ₹42.04 Cr in the latest fiscal year, showing business performance, on annualised basis. Revenue figures from Spinaroo Commercial IPO provide insights into sales growth, market demand, and business scalability.

What is the EBITDA of Spinaroo Commercial IPO?

Spinaroo Commercial recorded an EBITDA of ₹ 2.66 Cr., reflecting operational efficiency. EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortisation) measures operational profitability.

What is the PAT of Spinaroo Commercial IPO?

Spinaroo Commercial Profit After Tax (PAT) is ₹1.22 Cr, reflecting earnings growth. Profit After Tax (PAT) reflects the company’s actual earnings after all expenses, taxes, and deductions

IPO Key Highlights

*At the time of IPO, on Annualised Basis
  • Revenue: ₹ 42.02 Cr.
            EBITDA: ₹ 2.66 Cr.
            PAT: ₹ 1.22 Cr.
  • EBITDA Margin: 6.33 %
            Pat Margin: 2.90%
  • Net Worth: ₹ 6.64 Cr.
  • Market Capitalisation: ₹ 35.67 Cr.
  • P/E: 29.01 times
  • P/BV: 2.12 times
  • EV/EBITDA: 16.01 times

Revenue

(As Annualised)

EBITDA

(As Annualised)

PAT

(As Annualised)
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FAQs

Spinaroo Commercial operates in Aluminium and Manufacturing Of Aluminum Foil Containers, Aluminum Home Foil, Paper Cups, Paper Plates, Paper Bowls. The Issue is listed on BSE SME in Apr, 2025. Spinaroo Commercial IPO size was 10.17 with Issue price of 51.00 .

Spinaroo Commercial IPO subscription was 1.52 X. IPO subscription refers to applications received in an IPO by each quota, i.e., QIB, Retail, and NII. In some IPOs, Eligible employee quota and shareholder’s quota are also present. Learn more about IPO subscriptions here.

Spinaroo Commercial IPO listed at a listing price of 52.85 against the offer price of 51.00.

The current market price of Spinaroo Commercial is 66.75.

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