WARRIX opened trading on the first day at 8.05 baht, up 1.75 baht or +27.78% from its IPO price of 6.30 baht.
Globlex Securities values shares of Warrix Sports Plc (WARRIX) at a reasonable price consensus of 8.50-8.80 baht from the IPO price of 6.30 baht.
WARRIX is a clothing and apparel distributor. Sports equipment and other clothing that can be used both in daily life and in various activities both domestically and internationally The proportion of physical therapy clinic services is less than 1% of total income.
The company’s 2019-21 and half-year 2022 income was 700.1 million baht, 661.9 million baht, 658.1 million baht and 697.5 million baht, respectively, and it reported operating results for the year 2019-21 and the 9-month period of 22 with a net profit of 12.0,12.7 million baht, 14.2 million baht and 65.4 million baht, respectively, due to the situation of the beginning of 2022 of the COVID-19 epidemic. began to fall apart. The company therefore ordered products in line with market demand. which allows the company to sell more products thus earning from the sale of classic products and collectible products of the company has increased
While 2019-21 and 9M 2022 GPM was 42.2%, 40.6%, 41.2% and 5.4% with 9M 22 gross margin due to price adjustment of new collection products at the end of the year 64 continuously up to 65 for licensed and unlicensed products
WARRIX sells no more than 180.0 million IPO shares, representing no more than 30% of total shares. Par value of 0.50 baht per share, with IPO price compared to P/E of similar companies, SABINA 19.4x and RSP 18.2x Fundraising Targets 1. Construction of sports science center and office in Rama 9 Road. for commercial operations
