Ameya Precision Engineers SME
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 25 Aug 2022 – 30 Aug 2022
- Listing date
- 08 Sep 2022
- Face value
- ₹10 per share
- Issue price
- ₹34 per share
- Lot size
- 4,000 shares
- Total issue size
- ₹7.14 Cr
- Market cap at offer price
- ₹25.50 Cr
- Promoter holding
- 99.99% → 72.00% pre-issue → post-issue
- ISIN
- INE0KT901015
- Registrar
- Skyline Financial Services Pvt.Ltd.
- Lead managers
- Shreni Shares Ltd.
- Registered office
- Gat No.345, Village-Kasurdi, Tal.Bhor, Maharashtra
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Anchor investor · within QIB | 0 | — | — |
| Market maker | 1,08,000 | — | — |
Application size
Minimum 4,000 shares per lot, in multiples, at ₹34
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 4,000 | ₹1,36,000 |
| S-HNI (min) | 2 | 8,000 | ₹2,72,000 |
| S-HNI (max) | 7 | 28,000 | ₹9,52,000 |
| B-HNI (min) | 8 | 32,000 | ₹10,88,000 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Anchor investors
Institutional allocation placed a day before the issue opens, carved out of the QIB portion and locked in after listing.
Valuation and performance
Valuation at offer price
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 2.53 | — |
| P/E (×) | 13.44 | — |
| Market cap | — | ₹25.50 Cr |
Key performance indicators
- Return on net worth
- 11.25%
- ROCE
- 17.04%
- Debt / equity
- 0.22
- PAT margin
- 6.36%
- NAV per share
- ₹22.51
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About Ameya Precision Engineers SME
Ameya Precision Engineers Limited, incorporated as a private limited company on December 6, 2012, and converted to public limited company on January 25, 2022, is engaged in manufacturing high-end precision components (shafts and trim components) for general engineering, with particular focus on valve and pump manufacturing. The company offers specialised processes including hard-facing and overlay of wear and corrosion-resistant alloys in line with ASME procedures, providing end-to-end solutions from raw material procurement to final despatch. The company is based in Pune, Maharashtra, and exports significantly to international markets including the United States, United Kingdom, Germany, Singapore, Slovenia, Austria, and Brazil.
Company Analysis
from RHPAmeya Precision Engineers Limited manufactures high-end precision components and specialised hard-facing/overlay solutions for the valve and pump manufacturing industries, primarily serving international markets.
Ameya Precision Engineers Limited, incorporated as a private limited company on December 6, 2012, and converted to public limited company on January 25, 2022, is engaged in manufacturing high-end precision components (shafts and trim components) for general engineering, with particular focus on valve and pump manufacturing. The company offers specialised processes including hard-facing and overlay of wear and corrosion-resistant alloys in line with ASME procedures, providing end-to-end solutions from raw material procurement to final despatch. The company is based in Pune, Maharashtra, and exports significantly to international markets including the United States, United Kingdom, Germany, Singapore, Slovenia, Austria, and Brazil.
Objects of the Issue
- To Meet the Capital Expenditure Requirements ₹63.63 Lakhs p.21
- Funding working capital requirements ₹275.87 Lakhs p.21
- General corporate purposes ₹102.00 Lakhs p.21
- To Meet the Capital Expenditure Requirements ₹63.63 lakhs p.73
- Funding working capital requirements ₹275.87 lakhs p.74
- General corporate purposes ₹102.00 lakhs p.75
- Working Capital p.187
- Plant & Machinery p.187
Issue Structure
- Total Issue
- ₹714.00 Lakhs
- Fresh Issue
- ₹510.00 Lakhs (15,00,000 Equity Shares at ₹34/- per share)
- Offer for Sale
- ₹204.00 Lakhs (6,00,000 Equity Shares at ₹34/- per share by Urmila Shirish Pande)
- Price Band
- ₹34/- per Equity Share
- Lot Size
- 4,000 Equity Shares and in multiples thereof
- Face Value
- ₹10/-
Business Model
The company manufactures and sells high-end precision components and specialised hard-facing/overlay solutions. For the financial years ended March 31, 2022, 2021, and 2020, export sales accounted for 94.07%, 96.22%, and 95.72% respectively of revenue from operations, indicating a predominantly export-driven business model.
Business Segments
SWOT Analysis
- • Established manufacturing capability with specialized processes(p.20)
- • Strong export revenue generation and customer base(p.27)
- • Consistent profitability and positive operating cash flows(p.32)
- • International market presence with significant export revenue(p.98)
- • ISO 9001:2015 certification with TUV Nord accreditation(p.99)
- • Experienced promoters with 10+ years in manufacturing precision components(p.99)
- • Long-term customer relationships generating repeat orders(p.99)
- • CRISIL BB+ credit rating(p.99)
- • In-house manufacturing capabilities including hard-facing and overlay processes(p.101)
- • ISO 9001:2015 certification demonstrates quality management capability(p.113)
- • Export House status provides customs and trade benefits(p.113)
- • Established manufacturing facility with advanced equipment(p.136)
- • Experienced promoter management with 10+ years industry experience(p.118)
- • ASME IX qualified hard-facing and overlay processes meet international standards(p.136)
- • Global customer presence across multiple high-value markets(p.136)
- • High dependence on few customers creating revenue concentration risk(p.29)
- • High supplier concentration risk with top 10 suppliers dominating purchases(p.29)
- • Single manufacturing facility creating operational concentration risk(p.29)
- • Significant outstanding legal proceedings involving company and promoters(p.26)
- • Unsecured loans repayable on demand from directors(p.33)
- • No long-term contracts with customers creating revenue uncertainty(p.30)
- • Does not own registered office premises, operates on rental basis(p.34)
- • Inadequate compliance with accounting standards and employee benefits(p.33)
- • Heavy dependence on export markets with limited domestic presence(p.99)
- • Declining profitability and EBITDA over recent years(p.98)
- • Capacity utilization declining below 72% in recent years(p.102)
- • Single manufacturing facility concentration(p.98)
- • Small employee base of only 118 employees(p.103)
- • High dependence on export markets for revenue(p.136)
- • Concentrated customer base in valve and pump manufacturing(p.136)
- • Significant debt burden with short-term borrowings(p.150)
- • Declining profitability trend year-on-year(p.137)
- • Single manufacturing location creates operational concentration risk(p.136)
- • Significant dependence on limited customer base(p.186)
- • Revenue and margin compression from raw material cost inflation without customer acceptance of rate increases(p.181)
- • Profit decline despite operational cash generation(p.182)
- • Outstanding tax demands and compliance issues(p.190)
- • Significant outstanding supplier dues concentrated among few large suppliers(p.193)
- • High leverage and financial costs despite declining profitability(p.187)
- • Manufacturing sector growth and Make in India initiative(p.20)
- • Expand market presence through new customer acquisition(p.29)
- • Expand production and capacity through capital expenditure(p.21)
- • Expand domestic market presence currently untapped(p.99)
- • Diversify product portfolio with new lines like pump shafts(p.99)
- • Invest in R&D to meet evolving technological requirements(p.99)
- • Enhance operating efficiencies through technology investments(p.99)
- • Growing global bearings market and valve/pump industry demand(p.91)
- • India bearings market expansion with 10.9% CAGR through 2027(p.97)
- • Flexible manufacturing setup can serve broader engineering sectors(p.136)
- • End-to-end solution offering from raw material to final product(p.136)
- • Membership in business organization provides networking and growth potential(p.113)
- • Export market participation with duty drawback benefits(p.178)
- • Established one-star export house recognition(p.197)
- • Significant foreign exchange exposure due to high export dependency(p.27)
- • COVID-19 pandemic creating operational and demand disruption risks(p.28)
- • Raw material price volatility and supply chain risks(p.28)
- • Power supply disruption risk despite DG set backup(p.29)
- • Intense industry competition affecting pricing and margins(p.34)
- • Global economic slowdown and reduced demand risk(p.41)
- • Infrastructure and logistics challenges in India(p.41)
- • Transportation disruptions affecting delivery capabilities(p.30)
- • Regulatory and compliance uncertainties(p.43)
- • Inflation pressures limiting ability to pass costs to customers(p.43)
- • Counterfeit bearing products threatening market integrity(p.91)
- • Significant competition from organized and unorganized players(p.103)
- • Supply chain disruptions and global logistics challenges(p.90)
- • Global economic uncertainties and COVID-19 variant risks(p.86)
- • Rising commodity and input costs affecting margins(p.90)
- • Regulatory compliance requirements across multiple jurisdictions(p.105)
- • Foreign exchange volatility impacts export-dependent revenue(p.159)
- • Competition from both organized and unorganized market players(p.137)
- • Exposure to global economic conditions and trade cycles(p.137)
- • Regulatory changes affecting employment and labor costs(p.108)
- • Government policy and regulatory changes impact operations(p.137)
- • Exposure to steel price volatility as major raw material(p.182)
- • Interest rate risk and inflation impact on business(p.185)
- • Competition from Indian and international service providers(p.186)
- • Credit risk from customer payment defaults(p.185)
- • Regulatory and economic policy dependence(p.185)
- • COVID-19 pandemic disruption impact(p.180)
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Bipin Shirish Pande | Promoter | 30.00% | 23.9960% |
| Nikhil Shirish Pande | Promoter | 30.00% | 23.9960% |
| Urmila Shirish Pande | Promoter Group | 10.00% | 0.00% |
| Shirish Madhukar Pande | Promoter Group | 30.00% | 23.9960% |
| Bipin Shirish Pande | Promoter | 29.9950% | 23.9960% |
| Nikhil Shirish Pande | Promoter | 29.9950% | 23.9960% |
| Shirish Madhukar Pande | Promoter Group | 29.9950% | 23.9960% |
| Urmila Shirish Pande | Selling Shareholder | 10.0000% | 0.00% |
| Bipin Shirish Pande | Promoter | 29.995% | 23.996% |
| Nikhil Shirish Pande | Promoter | 29.995% | 23.996% |
| Urmila Shirish Pande | Selling Shareholder | — | — |
| Urmila Shirish Pande | Selling Shareholder | — | — |
Leadership
Auto-extracted from the company's RHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official RHP before relying on it.