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CFF Fluid Control(FPO) IPO
CFF Fluid Control Ltd
₹1,17,000 /200 sharesMinimum Investment
CFF Fluid Control(FPO) IPO Listing Details
| Listed On | Issue Price | Listing Price | Listing Gains |
|---|---|---|---|
| -- | ₹585.00 | ₹621.00 | ₹36.00 (6.15%) |
CFF Fluid Control(FPO) IPO Details
| Bidding Dates | Min. Investment | Lot Size | Price Range |
|---|---|---|---|
| 9 Jul ‘25 - 11 Jul ‘25 | ₹2,34,000 | 200 | ₹585 - ₹585 |
| Issue Size | IPO Doc |
|---|---|
| 87.75Cr | RHP PDF |
Subscription rate
As of 11 Jul'25, 04:00 PM
| Qualified Institutional Buyers | 0.00x |
| Non-Institutional Investor | 3.78x |
| Retail Individual Investor | 1.71x |
| Total | 2.60x |
About CFF Fluid Control(FPO)
Founded in
2012
Managing director
Mr. Sunil Menon
Parent organisation
CFF Fluid Control Ltd
Strengths & Financials of CFF Fluid Control(FPO)
Strengths
Risks
As of May 31, 2025, the company claimed to have a strong order book valued at Rs 513.97 crore, with over 90 percent of these orders coming from the Indian defence public sector undertaking (PSU) shipyards.
The company claims its manufacturing facility in Khopoli covers 6,000 square metres and that this facility is equipped with advanced machinery and testing infrastructure.
CFF Fluid Control claims to be registered with key clients such as Mazagon Dock Shipbuilders Limited (MDL), naval dockyards in Mumbai and Karwar, Hindustan Shipyard Limited (HSL) in Visakhapatnam, and Goa Shipyard Limited.
The company is ISO 9001:2015 certified for its quality management systems.
The company claims to be recognised as an authorised equipment manufacturer by Indian Defence PSU shipyards. The company states that this helps it to receive repeat orders for equipment and spare parts as needed.
The company claims to have established long-term strategic partnerships with international manufacturers to bring in critical defence technologies that are not available in India. These include a technology transfer and manufacturing agreement with M/s Nereides (France) for towed wire antennas, and a collaboration with M/s Atlas Elektronik GmbH, a subsidiary of Thyssenkrupp Marine Systems.
Over the years, the company has observed a consistent increase in its revenue from operations and profit after tax (PAT). Revenue from operations increased from Rs 70.67 crore in FY23 to Rs 106.86 crore in FY24 and Rs 145.56 crore in FY25. PAT increased from Rs 10.14 crore in FY23 to Rs 17.09 crore in FY24 and Rs 23.85 crore in FY25.
The company’s existing manufacturing facility is located at Khopoli, and the upcoming facility will also be located at the same location. Therefore, any adverse political, social, or economic developments in this region can negatively impact the company’s operations and finances.
The company derives a major portion of its revenue from the Indian Defence PSU Shipyard. They accounted for Rs 131.90 crore of the total revenue in FY25, Rs 106.46 crore in FY24, and Rs 70.67 crore in FY23. Any reduction in orders, change in requirements, or cuts in defence budgets could adversely impact the company’s business and financial performance.
The company’s operations rely heavily on technology, process, and product development for manufacturing defence components. Any failure to keep up with updated technical requirements could negatively affect the business’s growth.
The top five customers accounted for Rs 115.10 crore (79.07 percent) of the company’s revenue in FY25, Rs 104.66 crore (97.94 percent) in FY24, and Rs 70.67 crore (100 percent) in FY23. Any failure to retain these key customers, expand the customer base, or a loss of business from these clients can adversely affect the company’s business and financial standing.
The company reported negative cash flows from operating activities amounting to Rs 3.22 crore in FY25, Rs 26.75 crore in FY24, and Rs 9.27 crore in FY23. The company also recorded negative cash flows from investing activities amounting to Rs 4.91 crore in FY25, Rs 16.59 crore in FY24, and Rs 19.39 crore in FY23. Additionally, negative cash flow from financing activity amounted to Rs 6.55 crore in FY25. If cash outflows continue to exceed inflows, the company may face liquidity challenges in the future.
As of FY25, the company has trade receivables amounting to Rs 59.66 crore, a sharp increase from Rs 8.82 crore in FY24 and Rs 8.13 crore in FY23. Any failure to collect these receivables on time or at all can negatively impact the business and its financial condition.
The top five suppliers accounted for Rs 47.87 crore (73.38 percent) of the company’s total raw material costs in FY25, Rs 52.28 crore (74.56 percent) in FY24, and Rs 53.82 crore (88.54 percent) in FY23. Any disruption in supplies from one or more of these suppliers could adversely affect the company’s business and finances.
The company, group companies, promoters, and directors are involved in some legal proceedings. Any adverse judgment in any of these cases can be detrimental to the company’s business prospects.
As of FY25, the company had outstanding financial indebtedness of Rs 21.11 crore. Any failure to service or repay these loans can harm the company’s operations and financial position.
CFF Fluid Control(FPO) Financials
*All values are in Rs. Cr
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Application Details of CFF Fluid Control(FPO) IPO
| Apply as | Price band | Apply Range |
|---|---|---|
| Regular | ₹585 - 585 | ₹2 - 5 Lakh |
| High Networth Individual | ₹585 - 585 | ₹2 - 5 Lakh |
For CFF Fluid Control(FPO) IPO, eligible investors can apply as Regular.