Incorporated in December 1978, Hy-Tech Engineers Limited is an engineering company engaged in the design, manufacture and supply of hydraulic fittings for diverse industrial applications.
With over four decades of experience in the hydraulics industry, the Company offers a portfolio of more than 11,000 SKUs, including DIN-metric fittings, JIC flared and flareless fittings, O-Ring Face Seal (ORFS) fittings, conversion fittings and customized hydraulic fittings.
The Company operates on a B2B model across domestic and international markets, serving OEMs and industrial customers through direct sales as well as authorized distributors and distribution partners. Its products cater to industries including construction machinery, automotive, farming machinery, injection moulding machines and hydraulic systems, while certifications for railway and defence applications further expand its market reach. As of March 31, 2026, the Company had an international presence across markets including the USA, Belgium, Poland, Russia, Brazil, Italy, Saudi Arabia, Hungary, UAE, Thailand and Germany.
Hy-Tech Engineers operates manufacturing facilities at Thane, Shirwal, Kavathe and Pithampur, supported by its Nashik unit, which supplies forged components to these facilities as part of its backward integration strategy.
As of March 31, 2026, the Company had 468 permanent employees and a contractual workforce of 253 personnel across various functions, including production, finance, sales and marketing, quality control, supply chain, design and human resources.
Strengths
Hy-Tech Engineers Ltd.’s revenue increased by 16% and profit after tax (PAT) rose by 15% 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 | 175.71 | 170.65 | 146.24 |
| Total Income | 193.44 | 166.71 | 141.17 |
| Profit After Tax | 22.59 | 19.62 | 11.60 |
| EBITDA | 41.69 | 35.79 | 22.55 |
| NET Worth | 122.02 | 101.25 | 82.22 |
| Reserves and Surplus | 80.25 | 59.48 | 81.84 |
| Total Borrowing | 29.76 | 43.53 | 40.84 |
| Amount in ₹ Crore | |||
| Company | Issue Type | Issue Size | Issue Price | PE Ratio | Listing Day Close | Listing Gain/Loss % | LTP |
|---|---|---|---|---|---|---|---|
| Behari Lal Engineering Ltd. | Mainboard | ₹301.62 Cr | ₹285 | 17.21 | ₹502.20 | +76.21% | ₹494.95 |
| Rajputana Stainless Ltd. | Mainboard | ₹254.98 Cr | ₹122 | 21.1 | ₹113.03 | -7.35% | ₹164.85 |
| VMS TMT Ltd. | Mainboard | ₹148.50 Cr | ₹99 | 22.24 | ₹99.65 | +0.66% | ₹47.90 |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding capital expenditure requirement of the Company towards procurement of machinery and equipment for expansion at Kavathe Unit, Shirwal Unit and procurement Pithampur Unit-I | 29.97 |
| 2 | Prepayment or repayment, in full or in part, of certain outstanding borrowings availed by the Company | 16.00 |
| 3 | General Corporate Purposes | |
| Total | 45.97 |
| KPI | Mar 31, 2026 | Mar 31, 2025 |
|---|---|---|
| ROE | 20.24% | 21.39% |
| ROCE | 24.40% | 20.46% |
| RoNW | 20.24% | 21.39% |
| PAT Margin | 11.68% | 11.77% |
| EBITDA Margin | 22.01% | 22.18% |
| NAV | 14.61 | 12.12 |
| Price to Book Value | 3.63 | 4.37 |
| Valuation Metric | Pre IPO | Post IPO |
|---|---|---|
| EPS (₹) | 2.70 | 2.38 |
| P/E (x) | 19.63 | 22.27 |
| IPO Date | 24 to 27 Aug, 2026 |
| Listing Date | Tue, Sep 1, 2026T |
| Face Value | ₹5 per share |
| Price Band | ₹50 to ₹53 |
| Lot Size | 283 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 2,56,10,204 shares (agg. up to ₹136 Cr) |
| Fresh Issue | 1,13,20,754 shares (agg. up to ₹60 Cr) |
| Offer for Sale | 1,42,89,450 shares of ₹5 (agg. up to ₹76 Cr) |
| Share Holding Pre Issue | 8,35,31,840 shares |
| Share Holding Post Issue | 9,48,52,594 shares |
As per our analysis and Based on the information we have, this is the output.
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