Analysts opinions : Do not apply in Burnpur cement IPO

Markets ananlysts and majority of the experts have expressed not to apply in Burnpur Cement IPO. The issue opens for subscription from tommorrow and closes on the 3rd of December 2007. Analysts say that the financial performance of the company doesnt look encouraging and post IPO the company’s debt would be increased to Rs. 90 crore and seeing FY07 results, topline income was 24 crore on capital of 11.17 crore that resulted in a bottom line income of 1.15 crore the EPS works out to 1 which is not good in any terms. Investors are better of to judge by them selves on the performance but overall the cement sector as itself looks good, so keeping that in perspective very bullish investors can probably apply otherwise small investors can skip this issue