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Admach Systems Ltd
EngineeringIPOSME
₹239 - 239
The Company designs and builds machines for the Indian and global engineering industry, offering customised solutions tailored to meet the unique needs of various industries majorly steel, automobile, packing and others. Its areas of specialization are special purpose machines, automation, assembly machines, packaging machines, product design and robotic material handling systems. It manufactures, exports and supplies a range of customised special purpose machines. Additionally, it provides comprehensive after-sales support, including maintenance, repair, and technical services, to ensure its products perform optimally throughout their lifecycle.
Lot600Min Invest₹2,86,800Face Value₹10Issue Size₹43 CrFresh Issue₹43 CrListing Price₹191CMP₹422
Timeline
23 Dec
Bidding opens
26 Dec
Bidding closes
29 Dec
Allotment
30 Dec
Refund & demat credit
31 Dec
Listing
Subscription
Subscription opens once dates are announced
Reports
Offer Details
Terms
Issue Size₹43 Cr0.18 Cr shares
Fresh Issue₹43 Cr
Face Value₹10
Lot Size600 shares
ReservationQIB 34.98% · NII 22.47% · RETAIL 42.56%
Application Sizes
Retail₹2,86,8001-1 lots
sNII₹2,86,800from 2 lots
bNII₹10,03,800from 7 lots
Managers & Registrar
Lead ManagerAftertrade Broking Private Limited
RegistrarMaashitla Securities Pvt Ltd
Ownership & Proceeds
Shareholding
CategoryPre IPOPost IPOPromoter Group71.87%53.05%Public28.13%46.95%
Objects of the Issue
- Funding of capital expenditure requirements of the Company towards purchase of new machinery and installation cost thereon
- Funding Working Capital Requirements of the Company
- General corporate purposes
Financials
Profit & Loss
| Financial Year | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| RevenueCr | 13 | 20 | 53 | 69 |
| Operating ProfitCr | 1 | 6 | 10 | 13 |
| OPM% | 7.6 | 32.0 | 19.3 | 18.5 |
| PBTCr | 0 | 4 | 8 | 12 |
| PATCr | 0 | 3 | 6 | 10 |
| EPS | 0 | 7 | 13 | 18 |
Balance Sheet
| Financial Year | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Equity CapitalCr | 1 | 2 | 5 | 7 |
| ReservesCr | 1 | 4 | 17 | 64 |
| BorrowingsCr | 8 | 16 | 11 | 0 |
| Total AssetsCr | 20 | 36 | 56 | 91 |
Cash Flow
| Financial Year | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Operating Cash FlowCr | -2 | -8 | 2 | -5 |
| Investing Cash FlowCr | -4 | 3 | -4 | -19 |
| Financing Cash FlowCr | 6 | 5 | 4 | 27 |
| Net Cash FlowCr | 0 | 0 | 1 | 3 |
Strengths & Risks
Strengths · as stated in the DRHP
- Multi-product capability.
- Established infrastructure and integrated production with cost efficiencies.
- Core Focus on consistent R&D, value engineering and to leverage complex technology.
- Focus on Quality, Environment, Health and Safety.
- Experienced Promoters and management team.
- Long standing relationships with diversified customers across geographies.
Strategies · as stated in the DRHP
- Expanding its Product Portfolio with New Designs.
- Expanding its Customer Base.
- Continuing Focus on Operational Efficiency.
- Continue to enhance its core strengths by attracting, retaining and training qualified personnel.
Risks · as stated in the DRHP
- The company business is dependent on the performance of Steel and Non-Destructive Testing equipment industry with a large portion of revenue being derived from it. Any downturn in these industries can adversely impact its business, results of operations, cash flow and financial condition of the Company.
- The company is significantly dependent on the sale of its products namely, Steel Machines, Non-destructive testing equipment and Packaging machine. The company aggregate revenue from sale of Steel Machines accounted for 76.11%,88.48%, 55.13% and 33.66% of its revenue from operations for the period ended June 30,2025 and Fiscal 2025, 2024 and 2023 respectively. Failure to anticipate and adapt to changing consumer preferences or maintain product quality could harm demand for the company products, weaken brand loyalty, and negatively affect its business, financial results, and cash flow.
- The company derive its revenue from the domestic market and substantial portion of revenue from the region of Maharashtra. Any adverse developments affecting the company operations in this region, could have an adverse impact on its business, financial condition, results of operations and cash flows.
- The company does not has long-term agreements with most of its suppliers. Further, the company inability to accurately forecast demand for its products or manage the company inventory or working capital requirements may have an adverse effect on its business, results of operations and financial condition.
- The company manufacturing facility is located on property acquired pursuant to the Agreement of Assignment of Business dated November 30, 2009, and the ownership details in the revenue records have not yet been updated in the Company's name; failure to complete such recordal procedure may adversely affect its business, results of operations, financial condition, and cash flows.
- The Company is yet to place orders for 100% of the machineries for its proposed object, as specified in the Objects of the Issue. Any delay in placing orders, procurement of machineries may delay its implementation schedule and may also lead to increase in price of these machineries, further affecting the company revenue and profitability.