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Safety Controls & Devices Ltd
Power InfrastructureIPOSME
₹80 - 80
The Company is primarily engaged in the EPC (Engineering, Procurement, and Construction) business, focusing on the installation of substations, construction of solar plants, installation of firefighting equipment, currently it is also undertaking some construction projects of hospitals for the Ministry of Ayush. Based in Lucknow, Uttar Pradesh, its operations are carried out as an engineering enterprise. The Company has experience in executing turnkey projects across multiple sectors like transmission and distribution, solar energy, EV charging infrastructure, fire protection systems and hospital construction.
Lot1,600Min Invest₹2,56,000Face Value₹10Issue Size₹48 CrFresh Issue₹48 CrListing Price₹83CMP₹71
Timeline
6 Apr
Bidding opens
8 Apr
Bidding closes
9 Apr
Allotment
10 Apr
Refund & demat credit
13 Apr
Listing
Subscription
Subscription opens once dates are announced
Reports
Offer Details
Terms
Issue Size₹48 Cr0.60 Cr shares
Fresh Issue₹48 Cr
Face Value₹10
Lot Size1,600 shares
ReservationQIB 48.88% · NII 15.17% · RETAIL 35.95%
Application Sizes
Retail₹2,56,0001-1 lots
sNII₹2,56,000from 2 lots
bNII₹10,24,000from 8 lots
Managers & Registrar
Lead ManagerSobhagya Capital Options Pvt Ltd
RegistrarMaashitla Securities Pvt Ltd
Ownership & Proceeds
Shareholding
CategoryPre IPOPost IPOPromoter Group66.53%46.41%Public33.47%53.59%
Objects of the Issue
- Funding the capital exp requirements of the company by purchase of equipment and machinery
- Repayment/prepayment in part or full of certain of its borrowings
- Funding the working capital requirements of the company
- General corporate purposes
Anchor Book
Bid Date02-Apr-2026
Financials
Profit & Loss
| Financial Year | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| RevenueCr | 46 | 48 | 45 | 103 | 117 |
| Operating ProfitCr | 1 | 4 | 9 | 17 | 26 |
| OPM% | 3.0 | 9.3 | 20.8 | 16.6 | 22.6 |
| PBTCr | 2 | 2 | 6 | 12 | 18 |
| PATCr | 1 | 2 | 5 | 8 | 14 |
| EPS | 1 | 2 | 5 | 6 | 11 |
Balance Sheet
| Financial Year | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Equity CapitalCr | 10 | 10 | 11 | 13 | 14 |
| ReservesCr | 5 | 7 | 12 | 27 | 45 |
| BorrowingsCr | 15 | 19 | 30 | 34 | 49 |
| Fixed AssetsCr | - | - | 0 | - | - |
| Total AssetsCr | 48 | 65 | 77 | 120 | 196 |
Cash Flow
| Financial Year | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Operating Cash FlowCr | -5 | -13 | -11 | -10 | -11 |
| Investing Cash FlowCr | -8 | 13 | 2 | -4 | 2 |
| Financing Cash FlowCr | 13 | 1 | 9 | 14 | 10 |
| Net Cash FlowCr | 0 | 0 | 0 | 0 | 0 |
Strengths & Risks
Strengths · as stated in the DRHP
- Experienced Promoter and Management Team.
- Scalable Business Model.
- Wide and diverse range of product offerings.
- In-house manufacturing facility with equipped machines and processes. Further having in-house Quality Control and Research & Development facility.
Strategies · as stated in the DRHP
- Sustainability and Renewable Energy Integration.
- Hybrid Substations.
- Expanding its geographical network.
- Continue to develop client relationships.
Risks · as stated in the DRHP
- The company's reliance on power sector, for a significant portion of its sales, combined with the challenges of managing a diversified portfolio across multiple industries, could adversely impact the company's revenue, operational efficiency, and overall business performance.
- The company's reliance on government contracts exposes the company to substantial risks, as any regulatory or policy changes could significantly impact project timelines, funding, and the company's ability to secure future contracts. These changes could adversely affect its business operations and financial performance.
- The Company's current operations extend beyond the safety-focused implication of its name, which may cause confusion or misrepresent the full scope of its diverse activities across sectors such as power transmission, solar energy and infrastructure development
- Substantial portion of its revenues has been dependent on few of the company's clients from which the company gets the majority of project on sub-contract basis. The loss of any one or more of the company's major clients would have a material adverse effect on its business operations and profitability.
- The company's contracts are primarily with the government entities. As a result, the working capital cycle is extended, with receivables taking more time to be collected from these entities. Intense competition in the EPC sector, driven by aggressive bidding and price sensitivity, can lead to reduced profit margins and the potential loss of critical contracts. Additionally, financial pressures from well-resourced competitors employing predatory pricing strategies may hinder sustainable business growth and profitability.
- Company has filed the Draft Red Herring Prospectus dated November 08, 2024 with the SME Exchange of NSE Limited. The proposed listing on EMERGE platform of the Exchange pursuant to Initial Public Offer was returned as per the `Exchange's Guidelines for returning of Draft Offer Documents filed with the Exchange for listing on NSE Emerge Platform.