Incorporated in December 2021, Acme India Industries Limited is engaged in the Indian railway rolling stock sector, focusing on the design, manufacture, supply, installation and warranty maintenance of railway coach interiors and components. The Company provides turnkey furnishing solutions for new railway coaches, refurbishment, upgradation and conversion of old coaches, and modernization of toilet facilities.
It manufactures and supplies products including Braille signage, FRP products, sanitary ware, epoxy flooring, decorative glass FRP, toilet and compartment doors, seats and berths, fire barrier coatings and hygiene-related products. Since 2017, the Company has completed 28 turnkey furnishing projects covering 1,610 coaches, while it has refurbished and upgraded 1,888 coaches and completed 10,948 toilet upgrades as of June 30, 2026.
The Company operates across 16 railway zones and has three production units and two mid-life rehabilitation units. Its manufacturing facility in Sonipat, Haryana, covers an area of over 92,000 square feet and is equipped with laboratory and testing facilities. The Company also has a design and new product development team involved in product engineering, simulation, prototyping and testing. Its projects are executed across major railway production facilities, including the Modern Coach Factory in Raebareli, Integral Coach Factory in Chennai and Rail Coach Factory in Kapurthala. The Company is ISO 9001:2015 and ISO 15085 certified and is empanelled as a “Business Associate” under a Navratna PSU of the Government of India.
The Company operates primarily through a tender-based business model, with tender-related activities undertaken through the Indian Railways e-Procurement System (IREPS). It has executed projects across multiple coach variants, including LHB coaches, Vande Bharat and other self-propelled units.
As of June 30, 2026, the Company had 43 employees on its payroll across administration, business development, design and new product development, finance, operations, production, project management, supply chain and other functions.
Competitive Strengths
Acme India Industries Ltd.’s revenue increased by 26% and profit after tax (PAT) rose by 48% between the financial year ending with March 31, 2026 and March 31, 2025.
| Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 382.79 | 272.45 | 217.60 |
| Total Income | 267.89 | 213.45 | 215.02 |
| Profit After Tax | 24.36 | 16.46 | 19.21 |
| EBITDA | 39.82 | 28.76 | 29.57 |
| NET Worth | 103.55 | 55.37 | 35.63 |
| Reserves and Surplus | 85.48 | 38.58 | 27.35 |
| Total Borrowing | 85.18 | 81.17 | 69.80 |
| Amount in ₹ Crore | |||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding to meet working capital requirements | 38.00 |
| 2 | Repayment and/or pre-payment, in full or part, of borrowing availed by Company | 41.00 |
| 3 | Funding Capital Expenditure towards purchase of additional plant & machinery | 6.27 |
| 4 | General Corporate Purposes | |
| Total | 85.27 |
| KPI | Mar 31, 2026 |
|---|---|
| ROE | 30.65% |
| ROCE | 23.20% |
| Debt/Equity | 0.82 |
| RoNW | 23.52% |
| PAT Margin | 9.24% |
| EBITDA Margin | 15.10% |
| NAV | 59.94 |
| P/B (x) | 3.27 |
| Valuation Metric | Pre IPO | Post IPO |
|---|---|---|
| EPS (₹) | 13.48 | 10.38 |
| P/E (x) | 14.54 | 18.88 |
| IPO Date | 30 Sep to 6 Oct, 2026 |
| Listing Date | Fri, Oct 9, 2026T |
| Face Value | ₹10 per share |
| Price Band | ₹186 to ₹196 |
| Lot Size | 600 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Total Issue Size | 62,08,800 shares (agg. up to ₹122 Cr) |
| Reserved for Market Maker |
3,14,400 shares
(agg. up to ₹6 Cr) |
| Fresh Issue (Ex Market Maker) | 50,92,800 shares (agg. up to ₹100 Cr) |
| Offer for Sale | 8,01,600 shares of ₹10 (agg. up to ₹16 Cr) |
| Net Offered to Public | 58,94,400 shares (agg. up to ₹116 Cr) |
| Share Holding Pre Issue | 1,80,65,000 shares |
| Share Holding Post Issue | 2,34,72,200 shares |
The promoters of the company are Suraj Pandey and Sadhvi Pandey.
| Share Holding Pre Issue | 88.19% |
| Share Holding Post Issue | 64.46% |
As per our analysis and Based on the information we have, this is the output.
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