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TCS, HDFCBANK, SBI Liquid Fund (G)
SRM Contractors Ltd.

SRM

Equity

NSE,BSE

Min. Investment

2,00,000.00

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IPO Details

Bidding Dates

26 Mar 24 - 28 Mar 24

Price Range ₹

200 - 210

Total Equity

130.20Cr

Lot Size

70

Exchange Status

NSE,BSE

IPO Doc

Subscription Rate

Non-Institutional Investor

46.97×

Qualified Institutional Buyers

59.59×

Employees

0.00×

Retail Investors

46.97×

Total subscription Rate

86.57×

IPO Timeline

Offer start

26 Mar 2024

Offer end

28 Mar 2024

Allotment

01 Apr 2024

Refund initiation

02 Apr 2024

Demat transfer

02 Apr 2024

Listing

03 Apr 2024

About Company

Founded in 2008, SRM Contractors Limited operates as an engineering construction and development firm, focusing on projects such as roads, tunnels, slope stabilization, and various other civil construction endeavors. Renowned for its expertise, the company holds a prominent position in the Union Territories of Jammu & Kashmir and Ladakh. In addition to serving as an EPC contractor, SRM Contractors also undertakes subcontracting assignments.

Year Founded

04-09-2008

Promotor Details

Promoter Holdings Details

ParticularPre-IPOPost-IPO
Percentage99.920
Share Capital167310000

Offer to Public

62,00,000.00 Cr

Project Details

  • General corporate purposes - 238.806cr
  • Full or part repayment and/or prepayment of certain outstanding secured borrowings availed by our Co - 100cr
  • Investment In Joint Venture Project - 120cr
  • Funding the Working Capital requirement - 460cr
  • Funding capital expenditure requirements for the purchase of equipment/machineries - 315cr

Objectives

  • Funding capital expenditure requirements for the purchase of equipment/machineries
  • Full or part repayment and/or prepayment of certain outstanding secured borrowings availed by our Company
  • Funding the working capital requirements of our Company
  • Investment in Project Specific Joint Venture Projects
  • andGeneral Corporate Purpose.

Highlights

  • The company's consistent revenue growth and effective cost management, supported by an order book double its current revenue, promise sustained profitability in the coming years.
  • SRM Contractors Limited owns all construction equipment, ensuring cost control and timely project completion without relying on external resources.
  • The company strategically selects nearby projects, cutting transportation costs and boosting overall efficiency for higher profitability.
  • SRM Contractors Limited excels in executing projects in tough landscapes like Jammu & Kashmir, especially in roads, tunnels, and slope stabilization.
  • Through vertical integration, SRM Contractors Limited manages all construction aspects internally, from boomers to hot mix plants, enhancing efficiency.

Challenges

  • Relying heavily on government contracts, SRM Contractors Limited is subject to fluctuations in government expenditure priorities and bureaucratic processes, potentially impacting project schedules and revenue streams.
  • SRM Contractors Limited encounters stiff competition in the infrastructure sector, where securing projects hinges on rigorous bidding processes that assess factors such as past performance, work quality, and cost competitiveness.
  • The construction industry's capital-intensive nature demands substantial investments in machinery, coupled with prolonged revenue realization periods and delays in payment receipts due to extended project timelines.
  • SRM Contractors Limited faces risks with its primary operations centered in J&K and Ladakh, regions prone to civil unrest, political instability, and adverse weather conditions, potentially hindering the company's progress.
  • The company's focus on government-funded initiatives may limit market diversification and result in narrower profit margins compared to privately funded ventures.

Financials

YearsTotal AssetsShare CapitalProfit After TaxConsolidated Net ProfitAdjusted EPS
202212,021.59152.22827.28827.284.9407
202313,736.181,674.4026,96,63,260.0026,96,63,260.0016.1049
202111,246.95152.22827.28827.284.9407
20242,35,00,99,000.0016,74,42,000.00827.28827.284.9407
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