Incorporated in August 2009, Carver Roboweld Limited is engaged in the manufacturing of welding consumables, including Metal Cored Wires, Welding Rods and Gauging Electrodes, along with the supply of welding spare parts and accessories. The Company has also expanded its offerings to provide value-added engineering solutions to the forging industry, including forging die regeneration and welding robot rental services.
The Company operates its primary manufacturing facility in Bamanbore, Rajkot, Gujarat, with additional service units in Pune, Hosur and Ludhiana, enabling it to serve customers across key industrial markets in India. As of July 11, 2026, the Company had an aggregate installed production capacity of 650 tonnes per annum for Metal Cored Wires and Welding Rods, reflecting a capacity CAGR of approximately 30% between Fiscal 2025 and Fiscal 2026.
Through its subsidiary, Carver Engineering Private Limited, acquired in September 2025, the Company also provides re-conditioning and refurbishment services for plant and machinery across industries such as forging, casting, cement, steel, sugar, power, petroleum, automotive and fabrication. Its engineering services include heavy-duty machining, structural fabrication, repair and refurbishment of hammers and components, and turnkey engineering projects.
The Company has a presence across several Indian states and caters to industrial customers through its welding consumables and engineering solutions. It is ISO 9001:2015 certified and is a Sustaining Corporate Member of the American Welding Society (AWS), reflecting its focus on quality management and adherence to international welding standards.
As of June 30, 2026, the Company had 68 permanent employees and 75 contract workers.
Competitive Strengths
Carver Roboweld Ltd.’s revenue increased by 9% and profit after tax (PAT) rose by 140% between the financial year ending with March 31, 2026 and March 31, 2025.
| Period Ended | 30 Jun 2026 | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|---|
| Assets | 39.45 | 38.26 | 32.69 | 21.59 |
| Total Income | 7.71 | 27.12 | 24.97 | 21.67 |
| Profit After Tax | 1.49 | 3.48 | 1.45 | 1.01 |
| EBITDA | 2.84 | 8.36 | 4.92 | 4.12 |
| NET Worth | 17.62 | 16.13 | 4.56 | 3.11 |
| Reserves and Surplus | 9.62 | 8.42 | 3.61 | 2.16 |
| Total Borrowing | 12.27 | 15.65 | 22.32 | 13.39 |
| Amount in ₹ Crore | ||||
Note:-
Adjusted EBITDA is given.
| Company | Issue Type | Issue Size | Issue Price | PE Ratio | Listing Day Close | Listing Gain/Loss % | LTP |
|---|---|---|---|---|---|---|---|
| Sollfege Smart Electronics Ltd. | SME | ₹21.78 Cr | ₹55 | 15.15 | ₹99.18 | +80.33% | ₹56.29 |
| SJP Ultrasonics Ltd. | SME | ₹23.45 Cr | ₹67 | 12.07 | ₹73.01 | +8.97% | ₹90.58 |
| Roopa Screen Ltd. | SME | ₹19.20 Cr | ₹64 | 7.96 | ₹115.52 | +80.50% | ₹89.00 |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding the capital expenditure requirements of the Company towards the purchase of Welding Robots | 11.99 |
| 2 | Repayment and/or prepayment, in full or in part, of certain outstanding borrowings availed by the Company from banks and financial institutions | 8.60 |
| 3 | General Corporate Purpose | |
| Total | 20.59 |
| KPI | Mar 31, 2026 | Jun 30, 2026 |
|---|---|---|
| ROE | 33.63% | 8.48% |
| ROCE | 21.64% | 8.27% |
| Debt/Equity | 0.97 | 0.70 |
| RoNW | 21.57% | 8.48% |
| PAT Margin | 12.87% | 19.37% |
| EBITDA Margin | 30.94% | 36.90% |
| NAV | 17.54 | 18.42 |
| P/B (x) | 4.34 |
| Valuation Metric | Pre IPO | Post IPO |
|---|---|---|
| EPS (₹) | 3.64 | 4.56 |
| P/E (x) | 21.98 | 17.54 |
| IPO Date | 28 to 30 Oct, 2026 |
| Listing Date | Wed, Nov 4, 2026 |
| Face Value | ₹10 per share |
| Price Band | ₹76 to ₹80 |
| Lot Size | 1,600 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Total Issue Size | 35,36,000 shares (agg. up to ₹28 Cr) |
| Reserved for Market Maker | 1,77,600 shares (agg. up to ₹1 Cr) |
| Fresh Issue (Ex Market Maker) | 33,58,400 shares (agg. up to ₹27 Cr) |
| Net Offered to Public | 33,58,400 shares (agg. up to ₹27 Cr) |
| Share Holding Pre Issue | 95,66,805 shares |
| Share Holding Post Issue | 1,31,02,805 shares |
The promoters of the company are Ranjit Chandrabhai Bose, Rajit Chandra Bose and Deval Ranjitbhai Bose.
| Share Holding Pre Issue | 90.07% |
| Share Holding Post Issue | 65.77% |
As per our analysis and Based on the information we have, this is the output.
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