INDO SMC Ltd. IPO

INDO SMC Ltd is engaged in the design and manufacture of a diversified range of products catering to electrical, industrial, and infrastructural applications.

The company design and manufacturing of enclosure box for energy meters, high tension current transformer (“HTCT”), high tension potential transformer (“HTPT”), low tension current transformer (“LTCT”), LT/HT distribution boxes and panels, fiberglass reinforced plastic (“FRP”) Grating, junction boxes, feeder pillars and other power distribution and circuit protection switchgears.

The company has in-house testing laboratories to ensure products meet quality requirements and suitable material composition.

The company currently operate through four manufacturing facility, located at Gujarat, Maharashtra and Rajasthan. The manufacturing facility at Ahmedabad where they manufacture SMC and FRP products, comes equipped with a variety of machinery and other handling tools to guarantee appropriate product handling and efficient production.

Competitive Strengths:

  • Diverse Product Range
  • Strong Manufacturing Capabilities
  • Industry Expertise and Leadership
  • Robust Quality Assurance and control
  • Established relationship with customers

Company Financials (Restated Consolidated)

Period Ended30 Sep 202531 Mar 202531 Mar 202431 Mar 2023
Assets147.6799.9436.3213.85
Total Income112.62138.7828.067.30
Profit After Tax11.4615.443.000.46
EBITDA17.1922.835.081.15
NET Worth47.1435.695.791.17
Reserves and Surplus30.4619.005.060.52
Total Borrowing49.3535.7617.7010.43
Amount in ₹ Crore

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 capital expenditure of the company to purchase Plant and Machinery25.71
2Funding the working capital requirements of the company52.00
3General Corporate Purposes 

Key Performance Indicator (KPI)

KPISep 30, 2025Mar 31, 2025
ROE27.66%74.45%
ROCE17.50%31.39%
Debt/Equity1.051.00
RoNW24.30%43.27%
PAT Margin10.1811.13%
EBITDA Margin15.2716.45%
Price to Book Value5.276.97

 Pre IPOPost IPO
EPS Rs9.2510.02
P/E (x)16.114.86

INDO SMC IPO Details

IPO Date13 to 16 Jan, 2026
Listing DateWed, Jan 21, 2026
Face Value₹10 per share
Price Band₹141 to ₹149
Lot Size1,000 Shares
Sale TypeFresh Capital
Issue TypeBookbuilding IPO
Listing AtBSE SME
Total Issue Size61,71,000 shares
(agg. up to ₹92 Cr)
Reserved for Market Maker
3,09,000 shares
(agg. up to ₹5 Cr)
Net Offered to Public58,62,000 shares
(agg. up to ₹87 Cr)
Share Holding Pre Issue1,66,84,350 shares
Share Holding Post Issue2,28,55,350 shares

INDO SMC IPO Promoter Holding

Mr. Nitin Jasvantbhai Patel, Mr. Neel Niteshbhai Shah, Mrs. Riktabahen Sonawala, Mr. Chaitanya Patel and Mr. Rachit Jain are the promoters of the company.

Share Holding Pre Issue82.30%
Share Holding Post Issue62.07%

SHARIAH SCREENING for - INDO SMC 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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