CSM Technologies Ltd. IPO

Incorporated in 1998, CSM Technologies is one of the few IT solution providers that have delivered unique projects for both government and private clients. It specializes in GovTech and digital transformation, offering solutions across sectors like mining, agriculture, trade, education, healthcare, tourism, and public services

The company has 27 years of experience in building e-governance platforms and digital infrastructure, working as long-term partners for government agencies. Its solutions help improve efficiency, enable data-driven decisions, and deliver citizen-focused services. The company also provides consulting, advisory, and self-service technologies to help governments and businesses automate and manage customer-facing processes.

As on March 31, 2026, its order book stood at Rs 35,763.17 lakhs.

Key Projects

  • Agriculture: Farmer empowerment systems like KRUSHAK OdishaSAFAL (credit facilitation), and GO SUGAM (single-window for fisheries/animal resources). International projects include Kenya’s seed certification, Ethiopia’s Wheat Rust Warning System, and National Soil Information System.
  • Education: Platforms like SAMS Odisha (student management), OFSS Bihar (admissions), eSikshakosh, and the Unified Scholarship Portal. These projects have won national awards.
  • Governance: AI/ML-based grievance systems like Mo Sarkar, integrating call centers and analytics for real-time feedback.
  • Industry & Trade:Digital Logistics Management System for JSW Steel, later adopted by state governments.
  • Urban Development: Systems like ILMIS, Property Tax, and city administration platforms in Africa.
  • Social Protection:Social Protection Delivery Platform (SPDP) in India, Ethiopia, and Gambia for welfare targeting.
  • Investor Facilitation:GO-SWIFT in Odisha, and similar single-window systems in Chhattisgarh, Aurangabad (AURIC), and Himachal Pradesh.
  • Analytics & Dashboards: Real-time performance monitoring for Odisha and Chhattisgarh.
  • Donor Aid Management: Digital platforms in Rwanda and Mozambique for tracking grants and aid.

As at March 31, 2026, our Company has 1,327 employees.

Its market presence spans across 12 countries, including India, Ethiopia, Kenya, Rwanda, Gambia, Gabon, the USA, and Canada. Its customer base comprises governments, PSUs, development agencies, and enterprises.

Competitive strengths

  • Deep sectoral expertise across a diversified spectrum of industries
  • Proprietary technology driven innovations and patented technology developed in-house
  • Extensive geographic footprint with scalable operations across key markets
  • Established presence in a high-entry-barrier industry
  • Experienced Promoters and Senior Management team, having domain knowledge
  • Track record of healthy financial performance

Company Financials (Restated Consolidated)

Period Ended31 Dec 202531 Mar 202531 Mar 202431 Mar 2023
Assets206.00154.55124.4580.02
Total Income167.05200.63198.65161.50
Profit After Tax14.7014.0912.5515.82
EBITDA30.0729.2723.7127.87
NET Worth88.8876.1859.7550.31
Reserves and Surplus56.2973.2155.8845.69
Amount in ₹ Crore

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IPO Objects of the Issue

The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:

#Issue ObjectsEst Amt (₹ Cr.)
1Funding working capital requirements of the Company56.00
2Prepayment or repayment of all or a portion of certain outstanding borrowings availed by Company22.63
3Achieving inorganic growth through unidentified acquisitions and other strategic initiatives and general corporate purposes 
 Total78.63

Key Performance Indicator (KPI)

KPIDec 31, 2025Mar 31, 2025
ROE23.75%20.73%
ROCE24.40%22.62%
Debt/Equity0.860.46
RoNW16.54%18.49%
PAT Margin8.80%7.02%
EBITDA Margin18.16%14.69%
Price to Book Value4.920.95
 Pre IPOPost IPO
EPS (₹)3.643.80
P/E (x)31.0529.75

CSM Technologies IPO Details

IPO Date24 to 29 Jun, 2026
Listing DateThu, Jul 2, 2026
Face Value₹10 per share
Price Band₹107 to ₹113
Lot Size132 Shares
Sale TypeFresh capital only
Issue TypeBookbuilding IPO
Listing AtBSE, NSE
Total Issue Size1,29,01,000 shares
(agg. up to ₹146 Cr)
Fresh Issue1,29,01,000 shares
(agg. up to ₹146 Cr)
Share Holding Pre Issue3,87,02,472 shares
Share Holding Post Issue5,16,03,472 shares

CSM Technologies IPO Promoter Holding

Priyadarshi Pany and Lagna Panda.

Share Holding Pre Issue94.90%
Share Holding Post Issue94.90%

SHARIAH SCREENING for - CSM Technologies Ltd. IPO

BUSINESS SCREEN

FINANCIAL RATIOS

As per our analysis and Based on the information we have, this is the output.
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