Incorporated in 2017, LCC Projects Limited offers engineering, procurement and construction (“EPC”) services in the irrigation and water supply projects segment. The company has executed projects in the irrigation and water supply segment, such as the construction of dams, barrages, weirs, hydraulic structures, canals, pipe distribution networks, lift irrigation works, water supply schemes, and other EPC projects.
As of March 31, 2026, the company’s Order Book comprises 103 projects, of which Sondwa Lift Micro Irrigation Project, Sidhi Bansagar Multi – Village Scheme, and Gandhi Sagar 1 Multi-Village Scheme are the top three projects.
In the past, LCC have also executed notable projects, such as the construction of Tawa Left Bank Canthe al, Parbati Dam Projthe ect, Dudhai Sub Branch Canal Projectthe and AKOT Lift Irrigation Scheme.
The company expanded its operations from eight states in Fiscal 2026 to 12 states by March 31, 2026, namely, Gujarat, Madhya Pradesh, Odisha, Rajasthan, Maharashtra, Uttar Pradesh, Karnataka, Jharkhand, Chhattisgarh, Andhra Pradesh, Himachal Pradesh, and Haryana.
As of March 31, 2026, the company had 2,093 permanent employees.
LCC Projects Ltd.’s revenue increased by 24% and profit after tax (PAT) rose by 28% 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 | 2,447.54 | 1,727.46 | 1,129.99 |
| Total Income | 3,639.45 | 2,941.01 | 2,449.79 |
| Profit After Tax | 286.44 | 223.63 | 122.00 |
| EBITDA | 519.90 | 401.04 | 241.37 |
| NET Worth | 888.41 | 604.99 | 382.83 |
| Reserves and Surplus | 752.41 | 468.99 | 348.83 |
| Total Borrowing | 860.65 | 649.55 | 422.30 |
| Amount in ₹ Crore | |||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Purchase of equipment | 14.69 |
| 2 | Prepayment and/or repayment, in full or in part, of all or a portion of certain outstanding borrowings availed by Company | 180.00 |
| 3 | General corporate purposes | |
| Total | 194.69 |
| KPI | Mar 31, 2026 | Mar 31, 2025 |
|---|---|---|
| ROE | 32.24% | 36.96% |
| ROCE | 27.13% | 27.64% |
| Debt/Equity | 0.97 | 1.23 |
| RoNW | 32.24% | 36.96% |
| PAT Margin | 7.96% | 7.66% |
| EBITDA Margin | 14.44% | 13.74% |
| NAV | 32.66 | 22.24 |
| Price to Book Value | 4.47 | 6.56 |
| Valuation Metric | Pre IPO | Post IPO |
|---|---|---|
| EPS (₹) | 10.53 | 9.89 |
| P/E (x) | 13.87 | 14.76 |
| IPO Date | 9 to 11 Sep, 2026 |
| Listing Date | Thu, Sep 17, 2026T |
| Face Value | ₹5 per share |
| Price Band | ₹139 to ₹146 |
| Lot Size | 102 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 2,92,56,232 shares (agg. up to ₹427 Cr) |
| Fresh Issue | 1,76,71,232 shares (agg. up to ₹258 Cr) |
| Offer for Sale | 1,15,85,000 shares of ₹5 (agg. up to ₹169 Cr) |
| Share Holding Pre Issue | 27,20,00,000 shares |
| Share Holding Post Issue | 28,96,71,232 shares |
The promoters of the company are Arjan Suja Rabari, Laljibhai Arjanbhai Ahir and Maya Arjan Rabari.
| Share Holding Pre Issue | 100% |
| Share Holding Post Issue | 89.9% |
As per our analysis and Based on the information we have, this is the output.
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