Incorporated in February 2015, Seemax Resources Limited is engaged in providing material handling equipment solutions through the trading, rental, leasing, maintenance, and servicing of forklifts, cranes, stackers, reach trucks, pallet trucks, container handling equipment, and other industrial machinery. The company caters to a diverse range of industries, including automotive, steel, glass, cement, textiles, engineering, warehousing & logistics, retail & e-commerce, ports & shipping, construction & infrastructure, aviation, and railways.
The company offers comprehensive solutions for material movement and warehouse operations, helping customers improve operational efficiency, productivity, and equipment utilization. Led by promoters Mr. Amit Naldev Trivedi and Mrs. Seema Trivedi, Seemax has evolved from an automotive-focused business into a diversified industrial solutions provider with a strong presence across multiple sectors.
As of March 31, 2026, the company had 179 employees, including engineers, technicians, operators, site supervisors, and administrative personnel.
Competitive Strengths:
| Period Ended | 31 Dec 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 24.50 | 18.46 | 16.66 | 11.34 |
| Total Income | 12.43 | 14.46 | 11.41 | 11.38 |
| Profit After Tax | 2.24 | 2.24 | 1.43 | 0.79 |
| EBITDA | 3.51 | 4.85 | 3.78 | 2.34 |
| NET Worth | 7.96 | 5.72 | 3.48 | 2.05 |
| Reserves and Surplus | 4.96 | 2.72 | 3.47 | 2.04 |
| Total Borrowing | 13.13 | 9.68 | 10.94 | 7.58 |
| Amount in ₹ Crore | ||||
| Company | Issue Type | Issue Size | Issue Price | Listing Day Close | Listing Gain/Loss % | LTP |
|---|---|---|---|---|---|---|
| PAN HR Solutions Ltd. | SME | ₹17.04 Cr | ₹78 | ₹78.01 | +0.01% | ₹56.86 (-5.00%) |
| Armour Security India Ltd. | SME | ₹26.51 Cr | ₹57 | ₹43.35 | -23.95% | ₹20.70 (+0.00%) |
| Dhara Rail Projects Ltd. | SME | ₹50.20 Cr | ₹126 | ₹157.50 | +25.00% | ₹159.80 (+2.34%) |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding Capital Expenditure towards Purchase of Material Handling Equipment | 10.00 |
| 2 | Funding towards Repayment or prepayment, in full or in part, of borrowings availed by Company from banks and financial institutions | 1.50 |
| 3 | Funding the long-term working capital requirements of the Company | 3.25 |
| 4 | General Corporate Purposes | |
| Total | 14.75 |
| KPI | Dec 31, 2025 | Mar 31, 2025 |
|---|---|---|
| ROE | 32.80% | 48.65% |
| ROCE | 31.72% | 43.09% |
| Debt/Equity | 1.65 | 1.69 |
| RoNW | 28.18% | 39.13% |
| PAT Margin | 19.52% | 15.52% |
| EBITDA Margin | 30.55% | 33.63% |
| Price to Book Value | 5.31 | 7.40 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 7.46 | 6.80 |
| P/E (x) | 18.91 | 20.74 |
| IPO Date | 30 Jun to 2 Jul, 2026 |
| Listing Date | Tue, Jul 7, 2026 |
| Face Value | ₹10 per share |
| Price Band | ₹134 to ₹141 |
| Lot Size | 1,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Total Issue Size | 14,00,000 shares (agg. up to ₹20 Cr) |
| Reserved for Market Maker | 70,000 shares (agg. up to ₹0.9870 Cr) |
| Fresh Issue (Ex Market Maker) | 13,30,000 shares (agg. up to ₹19 Cr) |
| Net Offered to Public | 13,30,000 shares (agg. up to ₹19 Cr) |
| Share Holding Pre Issue | 30,00,000 shares |
| Share Holding Post Issue | 44,00,000 shares |
Mr. Amit Naldev Trivedi and Mrs. Seema Trivedi.
| Share Holding Pre Issue | 99.98% |
| Share Holding Post Issue | 68.18% |
As per our analysis and Based on the information we have, this is the output.
Allah knows best.
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