Founded in 2004, Abha Power and Steel Limited is engaged in the business of casting and manufacturing iron and steel products. The company makes a wide variety of products, including mild steel, manganese steel, stainless steel, and low and high-alloy castings.
Abha Power and Steel Limited’s two foundries—SG Iron Foundry and Steel Foundry— and its manufacturing facility are located in Bilaspur, Chhattisgarh, covering an area of approximately 319,200 square feet.
The facility is ISO 9001:2015 certified for the design, development, manufacturing, and supply of iron and steel castings and assemblies for industries such as steel, power, and cement. It also produces parts for the Indian Railways, including SGCI inserts, adapters (all types), valve castings, and similar items. As of March 31, 2024, the total installed capacity of the plant was 14,400 metric tonnes per annum (MTPA).
Abha Power and Steel Limited has a diverse portfolio of over 1,000 products, it caters to various industries.
The company’s clientele includes Vishal Nirmiti Private Limited, Raghavendra Rail Lines Pvt. Ltd., The Indian Hume Pipe Co. Ltd., Beekay Engg Corporation, Ashi Limited, SECR Railway, SCR Railway, Supertech Rail Infra Projects Pvt. Ltd., Northern Railway, and Orissa Concrete & Allied Industries Ltd., among others.
As of April 30, 2024, the company employed 65 people, including senior management.
Competitve Strengths:
Abha Power and Steel Limited’s revenue decreased by -6% and profit after tax (PAT) rose by 170% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period Ended | 15 Oct 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 | ||||||||||||||||||||||||||||||||||||
| Assets | 5,135.61 | 4,735.9 | 4,476.89 | 3,536.87 | ||||||||||||||||||||||||||||||||||||
| Revenue | 3,754.92 | 5,182.68 | 5,511.82 | 5,498.4 | ||||||||||||||||||||||||||||||||||||
| Profit After Tax | 361.97 | 378.19 | 140.14 | -71.53 | ||||||||||||||||||||||||||||||||||||
| Net Worth | 2,115.63 | 1,753.66 | 1,375.47 | 1,120.07 | ||||||||||||||||||||||||||||||||||||
| Reserves and Surplus | 670.76 | 308.8 | 893.85 | 678.47 | ||||||||||||||||||||||||||||||||||||
| Total Borrowing | 2,177.34 | 2,373.22 | 2,393.34 | 1,765.62 | ||||||||||||||||||||||||||||||||||||
| Amount in ₹ Lakhs | ||||||||||||||||||||||||||||||||||||||||
The market capitalization of Abha Power and Steel IPO is Rs 139.41 Cr.
KPI as of October 15, 2024.
| KPI | Values |
|---|---|
| ROE | 24.17% |
| ROCE | 23.64% |
| Debt/Equity | 1.35 |
| RoNW | 24.17% |
| P/BV | 6.18 |
| PAT Margin (%) | 7.31 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 2.62 | 3.89 |
| P/E (x) | 28.65 | 19.26 |
The Company proposes to utilize the Net Proceeds towards funding the following objectives:
| IPO Date | November 27, 2024 to November 29, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price | ₹75 per share |
| Lot Size | 1600 Shares |
| Total Issue Size | 5,139,200 shares (aggregating up to ₹38.54 Cr) |
| Fresh Issue | 4,139,200 shares (aggregating up to ₹31.04 Cr) |
| Offer for Sale | 1,000,000 shares of ₹10 (aggregating up to ₹7.50 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 14,448,630 |
| Share holding post issue | 18,587,830 |
| Market Maker portion | 262,400 shares |
Subhash Chand Agrawal, Satish Kumar Shah, Ankit Agrawal, Atish Agrawal, Leela Devi Agrawal and Sunflower Commotrade Private Limited are the company's promoters.
| Share Holding Pre Issue | 100% |
| Share Holding Post Issue | 72.35% |
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