Established in 2010, HVAX Technologies Limited provides turnkey engineering, procurement, and execution of controlled environment and cleanroom infrastructure, design, engineering, and consulting services to pharmaceutical and healthcare companies.
The company supplies the following products manufactured by third parties: – Cleanroom wall panels, Cleanroom ceiling panels, Covings, Riser panels, Cleanroom doors, Flooring systems, Pass boxes, Air showers, LT/HT electrical panels, Pre-fabricated galvanized iron (GI) ducts, Air handling units, Chillers, Building Management Systems (BMS) Equipment, Utility generation and distribution Equipment.
The company’s customers include pharmaceutical companies, chemical companies, hospitals, healthcare companies, and FMCG companies. HVAX Technologies has completed around 200 projects in India and in 15 countries, namely Algeria, Ethiopia, the United Arab Emirates, Ghana, Kenya, Nepal, New Zealand, Nigeria, Saudi Arabia, Sri Lanka, South Africa, Tanzania, Uganda and Zimbabwe. Further, the Company has executed 53 projects, 48 projects, and 52 projects in FY 2024, FY 2023, and FY 2022 respectively, representing revenue from turnkey projects of Rs. 8445.73 lakhs, Rs. 9,343.63 lakhs, and Rs. 6,632.27 lakhs respectively.
Competitive Strengths:
On August 31, 2024, the company employed 125 permanent employees and 21 temporary and agency workers.
HVAX Technologies Limited’s revenue increased by 12% and profit after tax (PAT) rose by 80% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 | |||||||||||||||||||||||||||
| Assets | 6,366.32 | 7,825.59 | 5,386.78 | |||||||||||||||||||||||||||
| Revenue | 10,746.99 | 9,613.86 | 6,879.13 | |||||||||||||||||||||||||||
| Profit After Tax | 939.07 | 520.37 | 418.15 | |||||||||||||||||||||||||||
| Net Worth | 3,059.83 | 1,720.77 | 1,200.4 | |||||||||||||||||||||||||||
| Reserves and Surplus | 2,991.67 | 1,659.08 | 1,138.71 | |||||||||||||||||||||||||||
| Total Borrowing | 2,437.29 | 1,692.21 | 1,010.03 | |||||||||||||||||||||||||||
| Amount in ₹ Lakhs | ||||||||||||||||||||||||||||||
The market capitalization of HVAX Technologies IPO is Rs 127.18 Cr.
KPI as of March 31, 2024.
| KPI | Values |
|---|---|
| ROE | 39.29% |
| ROCE | 25.17% |
| Debt/Equity | 0.8 |
| RoNW | 30.69% |
| P/BV | 3.06 |
| PAT Margin (%) | 8.85 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 45.92 | 33.82 |
| P/E (x) | 9.97 | 13.54 |
The Company proposes to utilize the Net Proceeds from the Issue towards funding the following objects:
| IPO Date | September 27, 2024 to October 1, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹435 to ₹458 per share |
| Lot Size | 300 Shares |
| Total Issue Size | 732,000 shares (aggregating up to ₹33.53 Cr) |
| Fresh Issue | 732,000 shares (aggregating up to ₹33.53 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 2,044,875 |
| Share holding post issue | 2,776,875 |
| Market Maker portion | 37,200 shares |
Nirbhaynarayan Singh and Prayagdatt Mishra are the company's promoters.
| Share Holding Pre Issue | 90.50% |
| Share Holding Post Issue | 66.65% |
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