OPERATIONS
You should read the following discussion in conjunction with our restated financial statements attached in the chapter titled “Financial Information of the Company” beginning on page 182. You should also read the section titled “Risk Factors” on page 28 and the section titled “Forward Looking Statements” on page 20 of this Red Herring Prospectus, which discusses a number offactors and contingencies that could affect our financial condition and results of operations. The following discussion relates to us, and, unless otherwise stated or the context requires otherwise, is based on our Restated Financial Statements. Our financial statements have been prepared in accordance with Indian GAAP, the Companies Act and the SEBI (ICDR) Regulations and restated as described in the report of our auditor dated June 02, 2025 which is included in this Red Herring Prospectus under “Financial Statements”. The Restated Financial Information has been prepared on a basis that differs in certain material respects from generally accepted accounting principles in other jurisdictions, including US GAAP and IFRS. Our financial year ends on March 31 of each year, and all references to a particular financial year are to the twelve-month period ended March 31 of that year.
BUSINESS OVERVIEW
Incorporated in 2015, we are an automation solutions provider serving industrial clients, primarily in the automotive sector. We are engaged in designing, manufacturing, testing and installation of customized automation systems such as welding lines (spot welding, MIG and TIG), assembly lines, material handling machines and special-purpose machineries, tailored to meet the specific requirements of our clients production facilities. Our client base primarily comprises of Automotive Original Equipment Manufacturers (OEMs), Tier I suppliers to Automotive OEMs and manufacturers of automotive components and sub - components, who seek to establish, expand, upgrade, modify or repair their production setup. Our automation solutions focus on optimizing manufacturing processes and reducing manual intervention at our clients facilities.
Our product offerings also include assembly fixtures, welding fixtures, robotic cells, testing and inspection systems and auxiliary items. These products and items support the automation systems and provide integrated solutions to the operational requirements of clients. Our testing and inspection systems include leak testing machines and inspection jigs and gauges to ensure product performance with industry standards. In addition, we also provide support services to our clients, including repair and maintenance services, modification services and manpower support services so as to support system operations.
The manufacturing of our automation systems is carried out at our facility, based on the detailed designs made by us and approved by our customers. Our facility, located in the MIDC Chakan area of Village Sudumbre, Tehsil Maval, District Pune, is divided into two units: Unit-I and Unit-II. Our units are equipped with requisite machineries such as CNC bending machines, cutting machines (plasma, oxyfuel and laser), milling machines, jig boring, surface grinding machines, among others and various testing equipment to support production of automation systems. Additionally, our facility is certified under ISO 45001:2018, ISO 9001:2015 and ISO 14001:2015.
The design process takes place at our Admin and Design office in Baner, Pune, Maharashtra, where we conduct mechanical and electrical design as well as process simulation. As of March 31, 2025, our Design and Development team comprises 45 employees, playing a pivotal role in designing customized automation solutions tailored to our clients specific requirements.
As of March, 2025, we had 244 permanent full-time employees. Additionally, we employed approximately 256 contract laborers at our units.
During the Fiscal 2025, we have sold our products in India to around 10 states including Maharashtra, Haryana, Karnataka, Gujarat, Madhya Pradesh, Tamil Nadu and Himachal Pradesh. As at March 31, 2025, our sales and marketing team comprised 17 employees, responsible for managing client relationships and overseeing sales operations across India.
Our Company is led by our promoters, Manoj Pandurang Patil and Prafulla Pandurang Patil, each bringing a wide industry experience. Our sustainable growth in business has been achieved through our founders-led management team with relevant educational qualifications and complementary skill sets. Our promoters have been the driving force in developing and growing our business.
Key performance indicators of our Company:
(€ In Lakhs except percentages and ratios) |
|||
Key Financial Performance |
FY 2024-25 | FY 2023-24 | FY 2022-23 |
Revenue from operations(1) |
11,805.13 | 11,527.96 | 7,780.75 |
EBITDA(2) |
1,521.68 | 1,244.37 | 458.65 |
EBITDA Margin(3) |
12.89% | 10.79% | 5.89% |
PAT(4) |
1,170.21 | 783.72 | 419.84 |
PAT Margin(5) |
9.91% | 6.80% | 5.40% |
RoE(%)(6) |
27.28% | 27.81% | 18.94% |
RoCE (%)(7) |
21.62% | 24.52% | 12.60% |
Notes:
(1)
Revenue from operation means revenue from sale of products & services and other operating revenues(2)
EBITDA is calculated as Profit before tax + Depreciation + Interest Cost - Other Income(3)
‘EBITDA Margin is calculated as EBITDA divided by Revenue from Operations (4 PAT is calculated as Profit before tax - Tax Expenses(5)
‘PAT Margin is calculated as PAT for the period/year divided by revenue from operations.(6)
Return on Equity is ratio of Profit after Tax and Average Shareholder Equity(7)
Return on Capital Employed is calculated as EBIT divided by capital employed, which is defined as Shareholders Fund + Long term borrowing + Short term borrowing+ Deferred Tax Liability.For details, please refer to the section “Basis for Issue Price - Key Performance Indicators” on page 101 of the RHP.
For details in respect of “Statement of Significant Accounting Policies”, please refer to “Annexure IV - Summary Statement of Significant Accounting Policies & Notes to Restated Financial Information” beginning on page 191 of this Red Herring Prospectus.
Our business is subject to various risks and uncertainties, including those discussed in the section titled “Risk Factors on page 28 beginning of this Red Herring Prospectus.
Discussion on Result of Operations
The following discussion on results of operations should be read in conjunction with the Restated Financial Statements for the financial years ended on March 31, 2025, 2024 and 2023.
(Rs. In Lakhs)
For the year ended March 31, |
||||||
| 2025 | % of Total Income | 2024 | % of Total Income | 2023 | % of Total Income | |
Income: |
||||||
Revenue From Operations |
11,805.13 | 96.73% | 11,527.96 | 97.11% | 7,780.75 | 94.48% |
Other Income |
399.32 | 3.27% | 343.56 | 2.89% | 454.72 | 5.52% |
Total Income |
12,204.45 | 100.00% | 11,871.51 | 100.00% | 8,235.46 | 100.00% |
Expenses: |
||||||
Cost of Material Consumed |
5,820.17 | 47.69% | 7,690.27 | 64.78% | 4,503.41 | 54.68% |
Change in inventories of Work in progress |
3,96.29 | 3.25% | -1,164.57 | -9.81% | -140.06 | -1.70% |
Employee Benefit Expenses |
1,739.90 | 14.26% | 1,402.12 | 11.81% | 1,214.22 | 14.74% |
Financial Cost |
144.45 | 1.18% | 238.34 | 2.01% | 183.42 | 2.23% |
Depreciation and Amortization Expenses |
264.21 | 2.16% | 233.82 | 1.97% | 196.12 | 2.38% |
Others Expenses |
2,321.82 | 19.02% | 2,349.53 | 19.79% | 1,732.25 | 21.03% |
Total Expenses |
10,686.84 | 87.57% | 10,749.52 | 90.55% | 7,689.36 | 93.37% |
Profit Before Exceptional, Extraordinary Items and Tax |
1,517.62 | 12.43% | 1,122.00 | 9.45% | 546.11 | 6.63% |
Less: Exceptional Items |
- | - | - | |||
Profit Before Extraordinary Items and Tax |
1,517.62 | 12.43% | 1,122.00 | 9.45% | 546.11 | 6.63% |
Extra ordinary items |
- | - | - | |||
Profit Before Tax |
1,517.62 | 12.43% | 1,122.00 | 9.45% | 546.11 | 6.63% |
Tax Expense: |
||||||
Current tax Provision |
363.52 | 2.98% | 338.62 | 2.85% | 124.84 | 1.52% |
Deferred Tax |
-16.12 | -0.13% | -0.35 | 0.00% | 1.42 | 0.02% |
Profit/(Loss) for the period After Tax- PAT |
1,170.21 | 9.59% | 783.72 | 6.60% | 419.84 | 5.10% |
Revenue from operations:
Revenue from operations mainly consists of revenue from sale of automation solutions, particularly, Welding lines and Assembly lines. In addition, the company generates revenue from Maintenance and Other Services, Miscellaneous items, Special Purpose Machineries and Material Handling Machines. These diverse product categories contribute to the overall financial performance, with Welding lines being the dominant revenue driver.
The following table sets forth the bifurcation of revenue (product-wise) for the fiscal years 2025, 2024 and 2023.
(Rs. in lakhs)
Product categories |
F.Y. 2024-25 |
% of revenue | F.Y. 2023-24 |
% of revenue | F.Y. 2022-23 |
% of revenue |
Welding lines(l) |
7,742.91 | 65.59% | 8,556.87 | 74.23% | 6,026.11 | 77.45% |
Assembly Lines |
3,010.29 | 25.50% | 1,610.09 | 13.97% | 511.53 | 6.57% |
Maintenance & Other Services(ii) |
615.72 | 5.22% | 462.83 | 4.01% | 424.88 | 5.46% |
Miscellaneous(iii) |
97.44 | 0.83% | 10.87 | 0.09% | 349.19 | 4.49% |
Special Purpose Machineries |
176.56 | 1.50% | 211.00 | 1.83% | 388.37 | 4.99% |
Material Handling Machines |
162.21 | 1.37% | 676.30 | 5.87% | 80.66 | 1.04% |
Grand Total |
11,805.13 | 100.00% | 11,527.96 | 100.00% | 7,780.75 | 100.00% |
(i)
Revenue from welding lines includes revenue from welding lines as well as robotic welding cells and fixtures.(ii
The "Maintenance and Other Services" category in the product-wise revenue bifurcation includes repair and maintenance services for automation systems such as welding lines, assembly lines, material handling machinery and special-purpose machinery. It also covers installation and commissioning of automation systems, modification services and integration services for automation and software systems. Additionally, it encompasses manpower support for production trials and software testing.(m
Miscellaneous category includes auto component parts, spare parts, scrap and other related items.Other Income:
Other income primarily comprises of Interest Income on Fixed Deposits, Rental Income, Profit on sale of fixed assets, Balances Written back & Miscellaneous Income.
Total Expenses:
Total expenses consist of operating cost like cost of material consumed, Change in inventories of Work in progress, Employee benefit expenses, Finance costs, Depreciation and Amortization Expenses and other expenses.
Cost of material consumed:
Cost of Material consumed expenses primarily comprise of purchase of raw material as adjusted with opening and closing stock.
Change in inventories of Work in progress:
Changes in inventories of work in progress between opening and closing dates of a reporting period.
Employee benefits expense:
Employee benefits expense primarily comprises of Salaries & wages, Bonus expenses, Directors remuneration, Staff welfare expenses, Employers contribution to PF and Gratuity.
Finance Costs:
Our finance cost includes Interest expenses and Borrowing Cost.
Depreciation and Amortization Expenses:
Depreciation includes depreciation on Building, plant & machinery, office equipment, furniture, computer and data processing units, electrical installations and equipment, motor vehicles and intangible assets.
Other Expenses:
Other Expenses primarily comprise Manufacturing Expenses such as job work charges, fuel charges, power charges, rent (factory and machinery), labour charges, designing charges, and repairs and maintenance expenses. Additionally, it includes Selling and Distribution Expenses like sales promotion, marketing, and freight outward. Administrative Expenses cover auditor remuneration, courier charges, CSR expenses, discounts, insurance, professional fees, printing and stationery, rent for corporate offices, rates and taxes, recruitment expenses, security charges, traveling and conveyance, office expenses, and other miscellaneous expenses. It also includes foreign exchange loss, reflecting the companys operational and administrative costs.
FINANCIAL PERFORMANCE HIGHLIGHTS FOR THE FINANCIAL YEAR 2024-25:
Total Income:
Total income for the FY 2024-25 stood at Rs. 12,204.45 Lakhs. The total income consists of revenue from operations and other income.
Revenue from Operations:
During FY 2024-25 the net revenue from operation of our Company was Rs. 11,805.13 Lakhs mainly from the sale of Welding Lines, Assembly Lines and also from maintenance and other services.
Other Income:
During FY 2024-25 the other income of our Company stood at Rs 399.32 Lakhs. Other income primarily comprises Interest on Bank Fixed Deposits, Rental Income & profit on sale of fixed assets.
Total Expenses:
Total expenses consist of operating cost like cost of material consumed, Changes in Inventories of Work in Progress, Employee benefits expense, Finance costs, Depreciation and Amortization Expenses and other expenses. During FY 2024-25 the total expenses of our Company stood at Rs 10,686.84 Lakhs.
Cost of Material Consumed:
During FY 2024-25 the Cost of Material Consumed of our Company stood at Rs. 5,820.17 Lakhs.
Change in inventories of Work in progress:
During FY 2024-25 the Change in inventories of Work in progress of our Company stood at Rs. 396.29 Lakhs.
Employee benefits expense:
During the FY 2024-25 the employee benefit expenses of our Company stood at Rs. 1,739.90 Lakhs. The main components of the employee benefit expenses are Salaries & wages and Directors Remuneration.
Finance Costs:
During FY 2024-25 the finance cost expenses of our Company stood at Rs. 144.45 Lakhs. Our finance cost includes Interest expenses and borrowing cost.
Depreciation and Amortization Expenses:
During FY 2024-25 the Depreciation and amortization charges of our Company stood at Rs. 264.21 Lakhs.
Other Expenses:
Other expenses for FY 2024-25, were Rs. 2,321.82 Lakhs, including manufacturing expenses, administrative costs, repairs and maintenance, selling and distribution expenses, and other operational outflows.
Restated Profit before tax:
The Company reported Restated profit before tax for FY 2024-25 of Rs. 1517.62 Lakhs.
Restated profit after tax:
The Company reported Restated profit after tax for FY 2024-25of Rs. 1,170.21 Lakhs.
FINANCIAL YEAR 2025 COMPARED TO FINANCIAL YEAR 2024 Total Income:
The total income for FY 2025 stood at Rs. 12,204.45 Lakhs, compared to Rs. 11,871.51 Lakhs in FY 2024, reflecting a growth of 2.80%. This increase was primarily driven by higher revenue from operations.
Revenue from Operations:
In FY 2025, the revenue from operations was Rs. 11,805.13 Lakhs, showing a significant increase from Rs. 11,527.96 Lakhs in FY 2024, reflecting an increase of 2.40%. The growth was primarily due to increased sales in Assembly lines, generating Rs. 3,010.29 Lakhs (25.50% of revenue from operations) in FY 2025, Compared to Rs. 1,610.09 Lakhs (13.97% of revenue from operations) in FY 2024. Additionally, the demand for maintenance and other services saw an upward trend, contributing Rs.615.72 Lakhs (5.22% of revenue from operations) in FY 2025, compared to Rs. Rs. 462.83 Lakhs (4.01% of revenue from operations) in FY 2024.
Other Income:
Other income for FY 2025 stood at Rs. 399.32 Lakhs, compared to Rs. 343.56 Lakhs in FY 2024, marking a increase of 16.23%. The rise was primarily due to increase in the rental income (Rs. 236.48 Lakhs in FY 2025, compared to Rs. 68.73 Lakhs in FY 2024 and profit on sale of fixed assets to Rs. 71.19 Lakhs in FY 2025, compared to from Rs. 6.68 Lakhs in FY 2024
Total Expenses:
Total expenses for FY 2025 were Rs. 10,686.84 Lakhs, compared to Rs. 10,749.52 Lakhs in FY 2024, reflecting a decline of
0.58 %. This decline was due to decrease in cost of material consumed, decrease in finance cost, at the same time there was an increase in the Employee benefit expenses to the company, resulting into decrease in overall cost.
Cost of Material Consumed:
The cost of material consumed decreased to Rs. 5,820.17 Lakhs in FY 2025 from Rs. 7,690.27 Lakhs in FY 2024, representing a decline of 24.32 %. This decline was primarily on account of improved operational efficiencies and cost optimization resulting from increased scale of business operations.
Change in inventories of Work in progress:
Our Company has incurred Rs. 396.29 Lakhs as Change in inventories of Work in progress during the financial year 2024-25 as compared to Rs. (1,164.57) Lakhs in the financial year 2023-24.
Employee benefits expense:
Our Company has incurred Rs. 1,739.90 Lakhs as Employee benefits expense during the financial year 2024-25 as compared to Rs. 1,402.12 Lakhs in the financial year 2023-24. The increase was due to increase in (i) Employees Salary and wages Expenses from Rs. 987.23 lakhs to Rs. 1,197.99 lakhs in the financial year 2024-25, Directors remuneration from Rs 190.79 Lakhs in FY 2023-24 to Rs 303.14 in FY 2024-25 and increase in ESIC, PF, Gratuity and staff welfare expenses.
Finance Cost:
Our Company has incurred Rs. 144.45 Lakhs as finance cost during the financial year 2024-25 as compared to Rs. 238.34 Lakhs in the financial year 2023-24. The decline was due to decrease in Interest on overdraft from Rs.227.58 Lakhs to Rs.136.94 Lakhs and decline in interest on term loan from Rs.4.53 Lakhs in FY 2023-24 to Rs.2.24 Lakhs during the FY 2024-25.
Depreciation and Amortization Expenses:
Depreciation for the financial year 2024-25 stood at Rs. 264.21 Lakhs as against Rs. 233.82 Lakhs during the financial year 2023-24. The increase in depreciation was around 12.99 % which was due to purchase of building, Plant & machinery, furniture, vehicle, computer & data processing units and other office equipment.
Other Expenses:
Our Company incurred Rs. 2,321.82 Lakhs in other expenses during FY 2024-25, compared to Rs. 2,349.53 Lakhs in FY 202324, a decrease of 1.18%. This decline was driven by decrease in costs related to Labor charges, Freight Outward, designing charges and other Administrative Expenses.
Restated profit before tax:
Net profit before tax for the financial year 2024-25 increased to Rs. 1,517.62 Lakhs as compared to Rs. 1,122.00 Lakhs in the financial year 2023-24, marking an increase of 35.26%. This significant growth was primarily driven by the factors mentioned above. The revenue from operations of the company increased by approximately 2.40%, mainly due to higher sales of assembly welding lines, maintenance & Other services, and an increase in demand for maintenance services, which contributed significantly to the overall performance and also due to decrease in the Cost of goods sold, finance cost and other expense.
Restated profit for the year:
As a result of the foregoing factors, our profit after tax increased by 49.31%, rising from Rs. 783.72 Lakhs in the financial year 2023-24 to Rs. 1170.21 Lakhs in the financial year 2024-25.
FINANCIAL YEAR 2024 COMPARED TO FINANCIAL YEAR 2023 Total Income:
The total income for FY 2024 stood at Rs. 11,871.51 Lakhs, compared to Rs. 8,235.46 Lakhs in FY 2023, reflecting a growth of 44.15%. This increase was primarily driven by higher revenue from operations.
Revenue from Operations:
In FY 2024, the revenue from operations was Rs. 11,527.96 Lakhs, showing a significant increase from Rs. 7,780.75 Lakhs in FY 2023, reflecting an increase of 48.16%. This growth was primarily attributed to increased sales of welding lines, which contributed Rs. 8,556.87 Lakhs (74.23% of revenue from operations) in FY 2024, compared to Rs. 6,026.11 Lakhs (77.45% of revenue from operations) in FY 2023. Assembly lines also experienced a significant boost, generating Rs. 1,610.09 Lakhs (13.97% of revenue from operations) in FY 2024, up from Rs. 511.53 Lakhs (6.57% of revenue from operations) in FY 2023. Additionally, the demand for maintenance and other services saw an upward trend, contributing Rs. 462.83 Lakhs (4.01% of revenue from operations) in FY 2024, compared to Rs. 424.88 Lakhs (5.46% of revenue from operations) in FY 2023.
Other Income:
Other income for FY 2024 stood at Rs. 343.56 Lakhs, compared to Rs. 454.72 Lakhs in FY 2023, marking a decrease of 24.45%. The decline was primarily due to lower rental income (Rs. 68.73 Lakhs in FY 2024 vs. Rs. 270.22 Lakhs in FY 2023) and reduced income on fixed deposits which decreased to Rs. 139.49 Lakhs from Rs. 163.26 Lakhs.
Total Expenses:
Total expenses for FY 2024 were Rs. 10,749.52 Lakhs, compared to Rs. 7,689.36 Lakhs in FY 2023, reflecting a rise of 39.80%. This increase was due to increase in business operations of the Company resulting into higher material costs, employee benefits and other operational expenses.
Cost of Material Consumed:
The cost of material consumed increased to Rs. 7,690.27 Lakhs in FY 2024 from Rs. 4,503.41 Lakhs in FY 2023, representing an increase of 70.77%. Such increase was due to higher material cost on account of increase in business operations of the Company.
Change in inventories of Work in progress:
Our Company has incurred Rs. (1,164.57) Lakhs as Change in inventories of Work in progress during the financial year 202324 as compared to Rs. (140.06) Lakhs in the financial year 2022-23.
Employee benefits expense:
Our Company has incurred Rs. 1,402.12 Lakhs as Employee benefits expense during the financial year 2023-24 as compared to Rs. 1,214.22 Lakhs in the financial year 2022-23. The increase was due to increase in (i) Employees Salary and wages Expenses from Rs. 875.99 lakhs to Rs. 987.23 lakhs in the financial year 2023-24 and increase in ESIC, PF, Gratuity and staff welfare expenses.
Finance Cost:
Our Company has incurred Rs. 238.34 Lakhs as finance cost during the financial year 2023 -24 as compared to Rs. 183.42 Lakhs in the financial year 2022-23. The increase was due to increase in Interest on overdraft from Rs.170.89 Lakhs to Rs.227.58 Lakhs and increase in interest on term loan from Rs. 0.25 Lakhs to Rs.4.53 Lakhs during the FY 2023 -24.
Depreciation and Amortization Expenses:
Depreciation for the financial year 2023-24 stood at Rs. 233.82 Lakhs as against Rs. 196.12 Lakhs during the financial year 2022-23. The increase in depreciation was around 19.23 % which was due to purchase of building, Plant & machinery, furniture, vehicle and other office equipment.
Other Expenses:
Our Company incurred Rs. 2,349.53 Lakhs in other expenses during FY 2023 -24, compared to Rs. 1,732.25 Lakhs in FY 202223, an increase of 35.63%. This rise was driven by higher costs in Manufacturing, Sales Promotion, Freight Outward, Annual Maintenance, Auditors Remuneration, Administrative Expenses, Repairs & Maintenance, Rent, and Travelling & Conveyance, among other operational areas.
Restated profit before tax:
Net profit before tax for the financial year 2023-24 increased to Rs. 1,122.00 Lakhs as compared to Rs. 546.11 Lakhs in the financial year 2022-23, marking an increase of 105.45%. This significant growth was primarily driven by the factors mentioned above. The revenue from operations of the company increased by approximately 48.16%, mainly due to higher sales of robotic welding lines, assembly lines, and an increase in demand for maintenance services, which contributed significantly to the overall performance.
Restated profit for the year:
As a result of the foregoing factors, our profit after tax increased by 86.67%, rising from Rs. 419.84 Lakhs in the financial year 2022-23 to Rs. 783.72 Lakhs in the financial year 2023-24.
Information required as per Item (IPtCltiv) of Part A of Schedule VI to the SEBI Regulations:
An analysis of reasons for the changes in significant items of income and expenditure is given hereunder:
1. Unusual or infrequent events or transactions:
There has not been any unusual events or transactions on account of our business activity.
2. Significant economic changes that materially affected or are likely to affect income from continuing operations:
Other than as described in the section titled “Risk Factors” beginning on page 28 of this Red Herring Prospectus, to our knowledge there are no known significant economic changes that have or had or are expected to have a material adverse impact on revenues or income of our Company from continuing operations.
3. Known trends or uncertainties that have had or are expected to have a material adverse impact on sales, revenue or income from continuing operations:
Apart from the risks as disclosed under Section “Risk Factors” beginning on page 28 of the Red Herring Prospectus, in our opinion there are no other known trends or uncertainties that have had or are expected to have a material adverse impact on revenue or income from continuing operations.
4. Future changes in the relationship between costs and revenues:
Other than as described in the sections “Risk Factors”, “Our Business” and “Managements Discussion and Analysis of Financial Condition and Results of Operations” on pages 28, 131 and 233 respectively, to our knowledge, no future relationship between expenditure and income is expected to have a material adverse impact on our operations and finances.
5. Segment Reporting:
Our company operates in a single segment i.e. automation solutions and related products.
6. Status of any publicly announced New Products or Business Segment:
Our Company has not announced any new product or service during the last three financial years.
7. Seasonality of business:
Our business is not subject to seasonality. For further information, see “Industry Overview” and “Our Business” on pages 107 and 131 respectively.
8. Dependence on single or few customers:
Substantial portion of our revenue has been dependent upon few customers with which we do not have any firm commitments. For details please refer to risk factor “Substantial portion of our revenue has been dependent upon few customers with which we do not have any firm commitments. The loss of any one or more of our major customers would have a material adverse effect on our business, cash flows, results of operations andfinancial conditions” on page 29 of this RHP.
9. Competitive conditions:
Competitive conditions are as described under the Chapter “Our Business - Competition” beginning on page 142 of this Red Herring Prospectus.
10. Details of material developments after the date of last balance sheet i.e., March 31, 2025:
After the date of last Balance sheet i.e., March 31, 2025, the following material events have occurred after the last audited period:
1. The company has availed loans amounting to Rs. 1,380 lakhs for general purposes in May 15, 2025 and Revised in Overdraft, Drop line Overdraft, Non-Fund Based and Corporate loan Total Amounting to Rs. 1,980 lakhs in May 14, 2025.
CAPITALISATION STATEMENT
(Rs. In Lakhs)
Particulars |
Pre-Issue 31-03-2025 |
Post Issue |
Borrowings |
||
Short term debt (A) |
2,293.28 | - |
Long Term Debt (B) |
- | - |
Total debts (C) |
2,293.28 | - |
Shareholders funds |
||
Equity share capital |
1,602.00 | * |
Reserve and surplus - as restated |
3,766.84 | * |
Total shareholders funds |
5,368.84 | * |
Long term debt / shareholders funds |
- | * |
Total debt / shareholders funds |
0.43 | * |
* The corresponding post issue figures are not determinable at this stage pending the completion of public issue and hence have not been furnished.
Short term Debts represent which are expected to be paid/payable within 12 months.
Long term Debts represent debts other than short term Debts as defined above.
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