Mopshop DistributionIPO Review — Financials, Valuation & Peers
A data-only look at the Mopshop Distribution IPO: restated financials, valuation ratios, the RHP peer group and third-party analyst views. ipostation does not rate IPOs — nothing here is a recommendation.
Financials (₹ Cr)
| Period Ended | Revenue | PAT | EBITDA | Net Worth | Total Assets | Borrowings | EPS (₹) |
|---|---|---|---|---|---|---|---|
| FY 2023 | 30.02 | 0.81 | 1.39 | 1.25 | 13.41 | 3.92 | — |
| FY 2024 | 37.86 | 1.42 | 2.91 | 2.92 | 17.8 | 6.59 | — |
| FY 2025 | 42 | 3.48 | 6.13 | 6.74 | 23.64 | 5.14 | — |
| Feb 2026 (interim) | 44.66 | 5.18 | 7.96 | 11.92 | 37.8 | 12.21 | 6.21 |
Restated figures from the offer document. Amounts in ₹ crore; EPS in ₹ per share. FY = the 12 months ended 31 March. Interim periods cover part of a year and are not comparable to the full-year rows.
KPIs & Valuation
- P/E (pre-issue)
- 22.22x
- P/E (post-issue)
- 17.6x
- RoNW
- 43.43%
- RoE
- 43.43%
- RoCE
- 32.35%
- Debt / Equity
- 1.02
- EPS (pre-issue)
- ₹6.21
- EPS (post-issue)
- ₹7.84
- EBITDA Margin
- 17.84%
- PAT Margin
- 11.61%
- P/BV
- 7.87x
- NAV / share
- ₹17.53
- Market Cap
- ₹99.36 Cr
As of 28 Feb 2026 (latest reported period in the offer document). Market cap is computed on a post-issue basis at the upper price band.
Peer Comparison
| Company | EPS (₹) | NAV (₹) | P/E | RoNW | Statements |
|---|---|---|---|---|---|
| Mopshop Distribution | 6.24 | 12.11 | 22.1x | 51.56% | Restated |
| Miraclean Tools private limited | 92.86 | 2,063.25 | — | 4.5% | — |
| Niparo Trading private limited | 10.66 | 335.36 | — | 3.17% | — |
Peer group as disclosed in the offer document, figures as of 31 Mar 2025. The issuer’s P/E is computed at the upper price band.
Promoters & Shareholding
Promoters: <p>Prakash Hakim Singh, Bunty Hakim Singh Gaur, Anju Prakash Singh</p>
- Holding (pre-issue)
- 99.99%
- Holding (post-issue)
- 72.57%
- Dilution
- 27.42%
Analysis in brief
Margin and return profile
Away from the price multiples, the offer document also discloses the shape of the underlying business. Mopshop Distribution operates at an EBITDA margin of 17.84% and a net (PAT) margin of 11.61% — the share of revenue retained at the operating and the net level respectively. Capital efficiency reads at a return on capital employed (RoCE) of 32.35% and a return on equity (RoE) of 43.43%. At the upper band, the post-issue market capitalisation works out to about ₹99.36 crore. These are offer-document figures for the latest reported period (as of 28 Feb 2026); they describe the business as disclosed, not how the stock will trade.
Objects of the issue
Per the offer document, the company intends to deploy the net proceeds primarily toward repayment of all or a portion of certain outstanding borrowings availed by the company (₹11.98 crore), alongside general corporate purposes (₹3.31 crore). In all, 5 objects are disclosed.
Financials
In FY2026, Mopshop Distribution reported revenue of ₹44.66 crore and a net profit of ₹5.18 crore. Revenue grew from ₹30.02 crore in FY2023 to ₹44.66 crore in FY2026 (+49.0%). Net worth stood at ₹11.92 crore at the end of FY2026. At the upper band, that puts the issue at roughly 22.2× FY2026 earnings (P/E), a figure worth comparing against listed peers in the sector.
Valuation
At the upper band, the issue is priced at 17.6× post-issue earnings and 7.87× book value, against a return on net worth of 43.43% and a debt-to-equity ratio of 1.02. These ratios come from the offer document and are for comparison, not a recommendation.
Promoters
The promoters of the company are <p>Prakash Hakim Singh, Bunty Hakim Singh Gaur, Anju Prakash Singh</p>. Promoter holding stands at 99.99% before the issue and comes down to 72.57% after listing.
Frequently asked questions
- What is the reservation split in the Mopshop Distribution IPO?
- Of the total shares offered, retail investors get 50%, non-institutional investors 50%.
- Who are the promoters of Mopshop Distribution and what is their holding?
- The promoters are <p>Prakash Hakim Singh, Bunty Hakim Singh Gaur, Anju Prakash Singh</p>. Promoter holding is 99.99% before the issue and 72.57% after listing.
- What is the P/E ratio of the Mopshop Distribution IPO?
- At the upper price band, the Mopshop Distribution IPO is valued at 22.22× pre-issue earnings and 17.6× post-issue earnings, based on the financials disclosed in the offer document.
- What are the objects of the Mopshop Distribution IPO?
- The net proceeds go primarily toward repayment of all or a portion of certain outstanding borrowings availed by the company, among 5 disclosed objects.