IPO Details
Bidding Dates
06 Feb 25 - 10 Feb 25
Price Range ₹
121 - 123
Total Equity
₹ 26.95Cr
Lot Size
1000
Exchange Status
NSE
IPO Doc
Subscription Rate
Non-Institutional Investor
0.00×
Qualified Institutional Buyers
0.00×
Employees
0.00×
Retail Investors
0.00×
Total subscription Rate
0.00×
IPO Timeline
Offer start
06 Feb 2025
Offer end
10 Feb 2025
Allotment
11 Feb 2025
Refund initiation
12 Feb 2025
Demat transfer
12 Feb 2025
Listing
13 Feb 2025
Offer start
06 Feb 2025
Offer end
10 Feb 2025
Allotment
11 Feb 2025
Refund initiation
12 Feb 2025
Demat transfer
12 Feb 2025
Listing
13 Feb 2025
About Company
Readymix Construction Machinery Limited, established in 2012, is a multidisciplinary manufacturer and supplier in the construction equipment sector. The company specializes in designing, developing, fabricating, and installing plant machinery, including Dry Mix Mortar Plants, concrete plant support equipment, silos, and customized projects. It provides end-to-end turnkey solutions, from conceptualization and fabrication to installation and after-sales services. In addition to its manufacturing capabilities, Readymix offers business consultancy services, including design, engineering, technology solutions, equipment installation support, and recipe optimization to enhance efficiency and reduce costs. With a workforce of 114 employees as of December 31, 2024, the company serves a diverse range of industries, supported by a dedicated after-sales network and a highly experienced management team.
Year Founded
24-01-2012
Promotor Details
Anand Suresh Watve
Promoter Holdings Details
| Particular | Pre-IPO | Post-IPO |
|---|---|---|
| Percentage | 100 | 72.06 |
| Share Capital | 7896500 | 7896500 |
Offer to Public
21,91,000.00 Cr
Project Details
- To Meet Working Capital Requirement - 240.5cr
- General Corporate Purpose - 47.735cr
- Repayment and/or pre-payment, in full or part, of borrowing availed by our Company - 52.5cr
Objectives
- Repayment and/or pre-payment, in full or part, of borrowing availed by our Company.To Meet Working Capital RequirementGeneral Corporate Purpose
Highlights
- The company utilizes Siemens Solid Edge Software and ARES Standard AutoCAD Software for precise and efficient product design, ensuring high-quality development.
- A dedicated customer support team provides on-site training, machine installation, software troubleshooting, spare parts replacement, and annual maintenance services, enhancing customer satisfaction and retention.
- The company has demonstrated a strong financial performance, with revenue from operations rising from ₹47.82 crore in FY22 to ₹69.79 crore in FY24, and PAT increasing significantly from ₹1.33 crore to ₹9.28 crore in the same period.
- The company generates revenue across multiple regions in India and has also expanded its reach to Nepal, showcasing its growing market presence and international potential.
- Offering annual maintenance services for machine repair and upkeep ensures long-term customer relationships, recurring revenue streams, and enhanced product reliability.
Challenges
- The company relies on a few key suppliers within a restricted geographical area for raw materials. Any supply chain disruptions could impact business operations, cash flow, and financial stability.
- A significant portion of revenue comes from a few key customers, with the top 10 clients contributing 55.97% of revenue as of December 31, 2024. The loss of major clients or reduced demand from them could severely impact financial performance.
- A major portion of the company’s revenue comes from Maharashtra, with 51.07% of revenue generated from the state as of December 31, 2024. Any economic slowdown, regulatory changes, or adverse developments in the region could negatively affect operations.
- The company is transitioning its focus to dry mix mortar plants for higher margins, moving away from its previously best-selling support equipment for ready-mix concrete plants. A decline in dry mix mortar plant sales could impact revenue and profitability.
- The company is involved in legal proceedings, and any adverse judgments could harm its business prospects. Additionally, with outstanding debt of ₹16.68 crore as of December 31, 2024, any difficulty in servicing or repaying loans could weaken its financial stability.
Financials
| Years | Total Assets | Share Capital | Profit After Tax | Consolidated Net Profit | Adjusted EPS |
|---|---|---|---|---|---|
| 2022 | 3,002.73 | 46.45 | 928.48 | 928.48 | 11.7581 |
| 2024 | 3,887.53 | 46.45 | 277.95 | 277.95 | 3.5199 |
| 2023 | 3,204.79 | 46.45 | 132.77 | 132.77 | 1.6814 |
