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₹150 - 150
Gallard Steel Ltd
Castings, Forgings & FastnersIPOSME
₹150 - 150
Incorporated in 2015, we are an engineering company engaged in the manufacturing of ready-to-use components, assemblies, and subassemblies for Indian railways, defence, power generation and allied industries. Our product portfolio includes critical components such as traction motor components and bogie assembly components for the railway sector, sub assemblies for thermal and hydro turbines used in the power generation sector and components for industrial machinery, equipment and the defence sector. These components are manufactured using unmachined and machined castings made from metals including carbon steel, ductile iron, grey cast iron and medium and low alloy steels. Our clientele primarily comprises companies operating in the heavy engineering, railways and defence sector.
Lot1,000Min Invest₹3,00,000Face Value₹10Issue Size₹38 CrFresh Issue₹38 CrListing Price₹223CMP₹153
Timeline
19 Nov
Bidding opens
21 Nov
Bidding closes
24 Nov
Allotment
25 Nov
Refund & demat credit
26 Nov
Listing
Subscription
Subscription opens once dates are announced
Reports
Offer Details
Terms
Issue Size₹38 Cr0.25 Cr shares
Fresh Issue₹38 Cr
Face Value₹10
Lot Size1,000 shares
ReservationQIB 49.81% · NII 15.16% · RETAIL 35.03%
Application Sizes
Retail₹3,00,0001-1 lots
sNII₹3,00,000from 2 lots
bNII₹10,50,000from 7 lots
Managers & Registrar
Lead ManagerSeren Capital Pvt Ltd
RegistrarAnkit Consultancy Pvt Ltd
Ownership & Proceeds
Shareholding
CategoryPre IPOPost IPOPromoter Group91.15%67.14%Public8.85%32.86%
Objects of the Issue
- Funding of capital expenditure towards expansion of the company existing Manufacturing facility and construction of office building
- Repayment of a portion of certain borrowings availed by the company
- General corporate purpose
Financials
Profit & Loss
| Financial Year | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| RevenueCr | 21 | 27 | 53 | 68 |
| Operating ProfitCr | 2 | 5 | 12 | 15 |
| OPM% | 9.2 | 18.9 | 23.4 | 22.4 |
| PBTCr | 2 | 4 | 8 | 12 |
| PATCr | 1 | 3 | 6 | 9 |
| EPS | 2 | 5 | 9 | 12 |
Balance Sheet
| Financial Year | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Equity CapitalCr | 2 | 7 | 7 | 10 |
| ReservesCr | 4 | 4 | 10 | 49 |
| BorrowingsCr | 9 | 18 | 20 | 21 |
| Total AssetsCr | 20 | 39 | 49 | 90 |
Cash Flow
| Financial Year | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Operating Cash FlowCr | - | 2 | 7 | 4 |
| Investing Cash FlowCr | - | -10 | -6 | -10 |
| Financing Cash FlowCr | - | 9 | -1 | 32 |
| Net Cash FlowCr | - | 0 | 0 | 26 |
Strengths & Risks
Strengths · as stated in the DRHP
- In-house manufacturing facilities.
- Diverse Customer base.
- Wide Geographical reach.
- Stringent quality control mechanism ensuring standardized product quality.
Strategies · as stated in the DRHP
- Expansion of manufacturing capabilities and infrastructure.
- Strengthen our presence in the railway and other sectors.
- Focus on consistently meeting quality standards.
Risks · as stated in the DRHP
- The company derives a significant portion of the revenue from the sale of traction motors and bogie assembly components to the railway sector and any decline in their demand may adversely affect its business, results of operations and financial condition.
- Substantial portion of the revenue has been dependent upon few customers with which its do not have any firm commitments. The loss of any one or more of the major customers would have a material adverse effect on its business, cash flows, results of operations and financial conditions.
- The Company does not have long-term agreements with suppliers for the input materials and a significant increase in the cost of, or a shortfall in the availability, or deterioration in the quality, of such input materials could have an adverse effect on its business and results of operations.
- There are outstanding legal proceedings involving the Company, Subsidiary, Directors and Promoters. Any adverse decisions could impact its cash flows and profit or loss to the extent of demand amount, interest and penalty, divert management time and attention and have an adverse effect on the business, prospects, results of operations and financial condition.
- Our Company and certain of its Directors have been subject to proceedings before the Hon'ble National Company Law Tribunal ("NCLT") in connection with compounding application filed by our Company for violation of Section 185 of the Companies Act, 2013, which may result in monetary penalties and could adversely affect our financial condition and reputation.
- Its business operations are majorly concentrated in certain geographical regions and any adverse developments affecting its operations in these regions could have a significant impact on the revenue and results of operations.