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Feb 09, 2016 11:32 AM IST | Source:

Subscribe with caution to Quick Heal IPO: Choice Broking

Choice Broking has come out with its report on Quick heal technologies IPO. The research firm has recommended to "SUBSCRIBE" the IPO with Cautions in its research report as on Feburary 08, 2016.

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Choice Equity Broking's report on Quick Heal Technologies

Quick Heal is one of the leading providers of security software products and solutions in India, which is used to detect security threats including virus and malware attacks in real time to protect users’s IT assets. Company product portfolio includes solutions under the widely recognized brand name ‘Quick Heal’ and ‘Seqrite’. Quick heal has a strong position in India and collects around 97% of the total revenue from the domestic market.

Key competitive strengths of company:

  • Providing high quality feature rich IT security services to a large client base

  • Strong focus on R&D for constantly improvement in services software and services

  • Well-established and diversified channel network; focus on efficient customer services

Valuation & Recommendation

After annualizing the net profit, FY16 EPS stands at Rs6.9 (post issue). At the lower price band of Rs311 per share, the company’s share is available at a P/E(x) of 44.9, while at higher price band of Rs321, it is available at P/E(x) of 46.4 of its FY16EPS, which is premium to its global peers such as Trend Micro, AVG Technologies, Symantec Corp and SAP SE.Growing business; operating income of the company grew by a CAGR of 17% over the past three fiscals

Company have also retained sufficient resources for the benefit of shareholders in future Thus, we assign subscribe with caution.

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