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Mittal Sections IPO
Mittal Sections Ltd
₹1,36,000 /1000 sharesMinimum Investment
Mittal Sections IPO Listing Details
| Listed On | Issue Price | Listing Price | Listing Gains |
|---|---|---|---|
| -- | ₹143.00 | ₹114.40 | -₹28.60 (20.00%) |
Mittal Sections IPO Details
| Bidding Dates | Min. Investment | Lot Size | Price Range |
|---|---|---|---|
| 7 Oct ‘25 - 9 Oct ‘25 | ₹2,72,000 | 1,000 | ₹136 - ₹143 |
| Issue Size | IPO Doc |
|---|---|
| 52.91Cr | RHP PDF |
Subscription rate
As of 09 Oct'25, 04:01 PM
| Qualified Institutional Buyers | 1.13x |
| Non-Institutional Investor | 0.58x |
| Retail Individual Investor | 3.93x |
| Total | 2.12x |
About Mittal Sections
Founded in
2006
Managing director
Mr Ajaykumar Balwantrai Mittal
Parent organisation
Mittal Sections Ltd
Strengths & Financials of Mittal Sections
Strengths
Risks
Mittal Sections claims to operate two steel manufacturing plants in Changodar, Ahmedabad, Gujarat, with a combined installed capacity of 36,000 metric tonnes per annum (MTPA). The company claims to have control over most aspects of its operations, apart from sourcing raw materials, which helps in maintaining operational efficiency and consistency in production.
Mittal Sections claims to offer around 55 stock-keeping units (SKUs) of structural steel products, including MS flat bars, round bars, angles, and channels. The company also claims to provide customisation options for size, length, breadth, and thickness, enabling it to serve varied requirements across different industries.
The company is ISO 9001:2015 certified for its quality management system and IS 2062:2011 for its steel products.
The company has witnessed a consistent increase in profit after tax (PAT). It increased from Rs 0.56 crore in FY23 to Rs 1.89 crore in FY24 and to Rs 3.61 crore in FY25.
The company’s top 10 customers accounted for Rs 46.19 crore (33.75 percent) of its total revenue in FY25, Rs 53.38 crore (33.06 percent) in FY24, and Rs 50.42 crore (30.16 percent) in FY23. Any loss of business from one or more of these customers could adversely affect the company’s business and financial condition.
The company’s top 10 suppliers accounted for Rs 105.08 crore (86.08 percent) of its total purchases in FY25, Rs 120.81 crore (87.68 percent) in FY24, and Rs 142.45 crore (95.18 percent) in FY23. Any disruption in supplies from one or more of these suppliers could adversely affect the company’s business and financial condition.
The company derives a large portion of its revenue from Gujarat. It accounted for Rs 136.52 crore (99.75 percent) of the company’s total revenue in FY25, Rs 161.15 crore (99.80 percent) in FY24, and Rs 166.28 crore (99.47 percent) in FY23. Any political, social, or economic developments in Gujarat could adversely affect the company’s business operations and financial performance.
The company operates in a high-volume, low-margin business. Its net profit margins stood at 0.33 percent in FY23, 1.17 percent in FY24, and 2.64 percent in FY25. Low margins restrict the company’s ability to generate strong profitability, and any inability to regularly grow turnover or manage key business processes could further impact its operating results and financial condition.
The company reported negative cash flows from operating activities amounting to Rs 4.33 crore in FY23. It also reported negative cash flows from investing activities amounting to Rs 4.49 crore in FY25, Rs 0.11 crore in FY24, and Rs 0.76 crore in FY23. It also reported negative cash flows from financing activities of Rs 7.36 crore in FY24. If these negative cash flows persist, it could adversely affect the company’s ability to meet its working capital needs or repay loans without raising additional external financing, thereby impacting its financial condition and operations.
The company, its promoters, and directors other than promoters are involved in various legal proceedings. Any adverse judgment in any of these cases could be detrimental to the company’s business prospects.
As of May 31, 2025, the company reported total indebtedness of Rs 20.70 crore. Any failure to service or repay these loans on time can harm the company’s operations and financial position.
Mittal Sections Financials
*All values are in Rs. Cr
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Application Details of Mittal Sections IPO
| Apply as | Price band | Apply Range |
|---|---|---|
| Individual investor | ₹136 - 143 | ₹2 - 5 Lakh |
For Mittal Sections IPO, eligible investors can apply as Individual investor.