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Karbonsteel Engineering Ltd
Infrastructure Developers & OperatorsIPOSME
₹159 - 159
We are a structural engineering and fabrication company engaged primarily in the design, fabrication and assembly of heavy and precision steel structures, customized to meet clients' requirements across various industrial and infrastructure segments. We have delivered structural engineering and fabrication solutions in diverse sectors including steel plants, railway bridges, oil & gas plants, refineries, chemical plants and other industrial units. Our fabricated structures form an integral part of the construction, expansion or modernization of industrial and infrastructure projects, including industrial plants, high rise buildings, railway bridges and other large-scale developments.
Lot800Min Invest₹2,54,400Face Value₹10Issue Size₹59 CrFresh Issue₹48 CrOffer for Sale₹11 CrListing Price₹185CMP₹97
Timeline
9 Sept
Bidding opens
11 Sept
Bidding closes
12 Sept
Allotment
15 Sept
Refund & demat credit
16 Sept
Listing
Subscription
Subscription opens once dates are announced
Reports
Offer Details
Terms
Issue Size₹59 Cr0.37 Cr shares
Fresh Issue₹48 Cr
Offer for Sale₹11 Cr
Face Value₹10
Lot Size800 shares
ReservationQIB 49.94% · NII 15.05% · RETAIL 35.01%
Application Sizes
Retail₹2,54,4001-1 lots
sNII₹2,54,400from 2 lots
bNII₹10,17,600from 8 lots
Managers & Registrar
Lead ManagerSeren Capital Pvt Ltd
RegistrarMaashitla Securities Pvt Ltd
Ownership & Proceeds
Offer for Sale
Selling ShareholderShares OfferedAmt ₹ CrShrenik Kirit ShahPRMTR4,14,0006.58Mittal Shrenik ShahPRMTR2,76,0004.39Total6,90,00010.97
Shareholding
CategoryPre IPOPost IPOPromoter Group72.17%51.77%Public27.83%48.23%
Objects of the Issue
- Funding of capital expenditure towards expansion of existing Umbergaon facility through construction of new sheds
- Repayment of a portion of certain borrowings availed by the company
- To meet the working capital requirements
- General corporate purpose
Financials
Profit & Loss
| Financial Year | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| RevenueCr | 101 | 156 | 218 | 273 | 301 |
| Operating ProfitCr | 9 | 16 | 26 | 37 | 33 |
| OPM% | 8.8 | 10.4 | 11.8 | 13.4 | 10.9 |
| PBTCr | 3 | 7 | 13 | 19 | 15 |
| PATCr | 2 | 5 | 9 | 14 | 11 |
| EPS | 4 | 5 | 9 | 13 | 8 |
Balance Sheet
| Financial Year | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Equity CapitalCr | 5 | 5 | 5 | 11 | 14 |
| ReservesCr | 19 | 24 | 38 | 49 | 101 |
| BorrowingsCr | 41 | 49 | 60 | 72 | 55 |
| Total AssetsCr | 100 | 144 | 176 | 233 | 257 |
Cash Flow
| Financial Year | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Operating Cash FlowCr | 3 | 13 | 6 | 9 | 23 |
| Investing Cash FlowCr | -2 | -5 | -16 | -11 | -39 |
| Financing Cash FlowCr | -1 | 0 | 6 | 1 | 12 |
| Net Cash FlowCr | -1 | 8 | -4 | 0 | -3 |
Strengths & Risks
Strengths · as stated in the DRHP
- Capabilities to execute large-scale industrial and infrastructure projects.
- Strong Order Book.
- In-House manufacturing and testing capabilities.
- Strong relationship with customers.
- Experienced Promoters with strong management team having domain knowledge.
Strategies · as stated in the DRHP
- Expand our existing manufacturing facility at Umbergaon, District Valsad, Gujarat.
- Increase our presence in the segment of railway infrastructure.
- Focus on consistently meeting quality standards.
Risks · as stated in the DRHP
- Our business is substantially dependent on certain key customers, from whom we derive a significant portion of our revenues. The loss of any significant customer may have a material and adverse effect on our business and results of operations.
- Our business is exposed to risks relating to delays in project execution and cost overruns, which may adversely affect our business, financial condition, results of operations and prospects.
- Our business is dependent on capital investments in industrial and infrastructure sectors and any slowdown in these sectors due to economic conditions, government policies, or project specific factors may materially and adversely affect our business, financial condition and results of operations.
- Failure to comply with stringent quality standards, inspection requirements and technical specifications may result in rework, delayed payments or termination of contracts, which could adversely affect our business, financial condition and results of operations.
- Our Company does not have long-term agreements with suppliers for our 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 our business and results of operations.
- Our business is dependent on and will continue to depend on our Manufacturing Facilities and we are subject to certain risks in our manufacturing process due to the usage of heavy machinery in our manufacturing operations. Any slowdown or shutdown in our manufacturing operations or strikes or work stoppages could have an adverse effect on our business, cash flows, financial condition and results of operations.