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Hy-Tech Engineers
· BSE open
Closes in 2 days · 27 Aug 2026
₹30
GMP* · 25 Aug, 01:20 pm
Price Band
₹50 – ₹53
Issue Size
₹136 Cr
1 lot at upper band
₹14,999
Lot Size
283
Open
24 Aug 2026
Close
27 Aug 2026
Allotment
—
Listing
01 Sept 2026
Scheduled dates
- Open24 Aug 2026
- Close27 Aug 2026
- Refund31 Aug 2026
- Demat credit31 Aug 2026
- Listing01 Sept 2026
GMP Trend*
Daily grey market premium (₹). Unofficial.
Latest GMP: ₹30 7 sessions
Subscription (times)
Latest per-category subscription · as of 25 Aug, 01:20 pm IST.
QIB 0.57x
NII 17.59x
BHNI 10.83x
SHNI 30.22x
RII 21.12x
Total 14.62x
About Hy-Tech Engineers
The company is an engineering company engaged in the design, manufacture and supply of hydraulic fittings catering to diverse industrial applications, with over four decades of operational experience in the hydraulics industry. The company's product portfolio comprises standard hydraulic fittings viz. DIN-metric fittings, JIC flared and flareless fittings, O-Ring Face Seal (ORFS) fittings and conversion fittings, as well as fittings customized to customer specifications. As of March 31, 2026, the company's portfolio consists of more than 11,000 stock keeping units (SKUs) of hydraulic fittings, serving diverse application needs across industries such as construction machinery, automotive, farming machinery, injection moulding machines and hydraulic systems. The company operates on a business-to-business (B2B) model across both domestic and international markets with six operational manufacturing facilities in India.
www.hy-techengineers.com ↗Strengths
- Integrated operations and product development capabilitiesThe company offers over 11,000 SKUs comprising standard hydraulic fittings and develops 880-2,206 new SKUs annually. The company operates with backward integration at Nashik Unit with 3,120 MT forging capacity and 483 lakh pieces manufacturing capacity across facilities.
- Diversified customer base with wide market reachThe company served 170 direct customers in Fiscal 2026 with exports contributing 29.37% of revenues across eleven countries. The company maintains dual-channel approach with direct sales (88.42%) and distributor network (11.58%) reducing dependence on single sales channels.
- Experienced leadership, deep market understanding and industry credibilityThe company benefits from over four decades of experience led by IIT Bombay alumnus promoter. The company achieved 95.10% revenues from repeat customers in Fiscal 2026 and overseas sales grew at 6.08% CAGR from ₹283.77 million to ₹338.71 million.
- Established global presence with access to growing international marketsThe company operates across eleven countries including USA (21.42% of revenues), Belgium (6.14%), and Poland (1.22%). The company leverages distribution agreement with Hy-Tech USA Inc. contributing 3.54% of revenue from operations in Fiscal 2026.
- Decentralized cell-based manufacturing modelThe company follows cell-based manufacturing with smaller self-contained cells aligned to specific customer requirements. The company maintains decentralized accountability framework with plant heads responsible for operational performance supported by central procurement teams.
Risk Factors
- Customer Concentration RiskThe company is dependent on a few customers for a major portion of revenues with top 10 customers contributing 45.32%, 42.02% and 48.72% of revenue from operations in Fiscals 2026, 2025 and 2024, respectively. The company does not enter into long-term arrangements with customers and any failure to continue existing arrangements could adversely affect business, financial condition and cash flows.
- Export Revenue Concentration and Foreign Exchange RiskThe company derives significant revenue from exports (29.37%, 28.30% and 33.14% in Fiscals 2026, 2025 and 2024), with substantial portion from the United States (21.42%, 22.85% and 24.56% respectively). Fluctuations in exchange rates, adverse developments in these markets or strained economic relations could adversely affect business operations.
- Negative Growth in Profit After TaxIn Fiscal 2024, the company experienced negative year-on-year growth in profit after tax with a decline of 35.59%. The company may be unable to manage growth and expansion operations or successfully implement business plans within budget estimates, which could materially affect business and financial condition.
- Geographic Concentration of Manufacturing FacilitiesFour out of six manufacturing facilities are located in Maharashtra, contributing 77.64%, 77.27% and 77.43% of revenue from operations in Fiscals 2026, 2025 and 2024. Any significant social, political, economic disruption or natural calamities in Maharashtra or Madhya Pradesh could adversely affect business operations and financial condition.
- Under-utilization of Manufacturing CapacityThe company faces capacity utilization challenges across manufacturing facilities with rates varying from 55% to 91.67% across different units. Under-utilization of manufacturing capacities over extended periods could materially impact business, growth prospects and future financial performance, affecting profitability and operational efficiency.
- Supplier Concentration and Raw Material DependencyThe company is dependent on suppliers for raw materials with top 10 suppliers contributing 65.61%, 54.78% and 65.49% of total purchases in Fiscals 2026, 2025 and 2024. Any shortages, delays or disruption in supply of raw materials (primarily carbon steel and stainless steel) may have material adverse effect on business operations and financial condition.
- Direct Sales Channel DependencyThe company derives significant revenue from direct sales contributing 88.42%, 88.60% and 90.64% of revenue from operations in Fiscals 2026, 2025 and 2024. Any adverse changes in this distribution channel or disruptions in direct customers' production activities could adversely impact business and financial performance.
Objects of the Issue
- Funding capital expenditure requirements towards procurement of machinery and equipment for expansion at Kavathe Unit, Shirwal Unit and Pithampur Unit-IThe company proposes to utilize Net Proceeds for acquiring advanced manufacturing machinery, CNC machines, testing equipment, barrel auto plating plants, and solar power installations to enhance operational efficiency, boost productivity, and strengthen sustainable practices across three manufacturing units.29.97 crores
- Repayment or prepayment, in full or in part, of certain outstanding borrowings availed by the CompanyThe company intends to utilize Net Proceeds towards repayment/prepayment of outstanding borrowings to de-leverage its financial position, achieve favorable debt-equity ratio, reduce interest outflow, and enable additional investment in business growth and expansion.16.00 crores
- General corporate purposesThe company proposes to deploy balance Net Proceeds for general corporate purposes including funding growth opportunities, strengthening marketing capabilities, brand building exercises, meeting working capital requirements, business development initiatives, and other expenses as approved by the Board.
Financial Snapshot
Annual values as reported in the offer document.
| Year end | Revenue | Rev. growth | Profit | Profit growth | Assets | Equity | Operating cash flow |
|---|---|---|---|---|---|---|---|
| 31/03/2026 | 193.44 | +16.0% | 22.59 | +15.1% | 175.71 | 122.02 | 30.33 |
| 31/03/2025 | 166.71 | +18.1% | 19.62 | +69.1% | 170.65 | 101.25 | 17.02 |
| 31/03/2024 | 141.17 | — | 11.60 | — | 146.24 | 82.22 | 18.68 |
Units: crores
Issue Details
- Face Value
- ₹5
- P/E
- 19.63
- ROCE
- 20.46%
- Shares / Lot
- 283
- Minimum Bid
- 283 shares
- Refund
- 31 Aug 2026
- Credit to Demat
- 31 Aug 2026
- ISIN
- INE0LEG01024
- CIN
- U99999MH1978PLC020853
- Registrar
- Bigshare Services Pvt.Ltd.
- Lead Managers
- New Berry Capitals Pvt.Ltd.
- Registered Office
- Plot No. A-160, Main Road, Wagle Industrial Estate, Thane - 400604, Maharashtra
Management
Hemant Tukaram MondkarMD
Surekha Hemant MondkarCEO
Sunil Prabhakar SatheCFO
Ashwin Hemant MondkarCOO
* Grey Market Premium is unofficial, indicative data from unregulated grey-market dealers. It is not published by NSE, BSE, SEBI or the issuer, and is not a forecast of the listing price.