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Prostarm Info Systems IPO
Prostarm Info Systems Ltd
₹13,490 /142 sharesMinimum Investment
Prostarm Info Systems IPO Listing Details
| Listed On | Issue Price | Listing Price | Listing Gains |
|---|---|---|---|
| BSE | ₹105.00 | ₹120.00 | ₹15.00 (14.29%) |
Prostarm Info Systems IPO Details
| Bidding Dates | Min. Investment | Lot Size | Price Range |
|---|---|---|---|
| 27 May ‘25 - 29 May ‘25 | ₹13,490 | 142 | ₹95 - ₹105 |
| Issue Size | IPO Doc |
|---|---|
| 168.00Cr | RHP PDF |
Subscription rate
As of 29 May'25, 04:00 PM
| Qualified Institutional Buyers | 70.29x |
| Non-Institutional Investor | 189.97x |
| Retail Individual Investor | 33.40x |
| Total | 77.49x |
About Prostarm Info Systems
Founded in
2008
Managing director
Mr Tapan Ghose
Parent organisation
Prostarm Info Systems Ltd
Prostarm Info Systems Ltd IPO
https://www.youtube.com/watch?v=vr0g3SerEA4
Strengths & Financials of Prostarm Info Systems
Strengths
Risks
Prostarm Info Systems claims to have developed a broad and continuously evolving range of products and services to cater to various industries. This includes power storage and power conditioning solutions such as UPS systems, inverters, solar hybrid systems, and lithium-ion battery packs. The company also offers customised solutions tailored to meet specific customer requirements, which it claims has helped it establish a strong presence in multiple sectors, including healthcare, banking, financial services, and insurance (BFSI), and renewable energy.
The company claims to have a solid customer base with long-term relationships, with many clients remaining loyal for several years. Notable clients include Larsen & Toubro Limited and Tata Power Co. Limited.
The company operates across India, supported by a network of 21 branch offices and two storage facilities. Prostarm Info Systems claims to rely on a broad network of dealers and distributors, ensuring its products reach customers efficiently. The company believes its infrastructure enables quick product rollouts and effective after-sales services, helping it maintain a competitive edge in the market.
The company is ISO 9001:2015 certified for quality management systems, ISO 14001:2015 for environmental management, ISO 45001:2018 for occupational health and safety, and ISO 50001:2018 for energy management systems. Additionally, it holds TL 9000:2016 certification for quality in the telecom industry, IS/ISO 14025:2006 certification for environmental labels and declarations, and ISO/IEC 20000-1:2018 certification for IT service management.
The company has witnessed a consistent increase in revenue from operations and profit after tax (PAT). Revenue from operations increased from Rs 171.31 crore in FY22 to Rs 230.36 crore in FY23 and Rs 257.87 crore in FY24. PAT increased from Rs 10.87 crore in FY22 to Rs 19.34 crore in FY23 and Rs 22.80 crore in FY24.
The top 10 customers contributed Rs 192.87 crore (71.80 percent) to the company’s total revenue in the nine months ended December 31, 2024, Rs 133.80 crore (51.88 percent) in FY24, Rs 91.23 crore (39.60 percent) in FY23, and Rs 75.88 crore (44.30 percent) in FY22. Any failure to retain these key customers, expand the customer base, or a loss of business from these clients could adversely affect the company’s business and financial standing.
A significant portion of the company’s revenue comes from the government e-marketplace (GeM) and tender projects. They contributed Rs 199.64 crore (74.32 percent) to the company’s total revenue in the nine months ended December 31, 2024, Rs 166.19 crore (64.45 percent) in FY24, Rs 127.23 crore (55.23 percent) in FY23, and Rs 104.37 crore (60.93 percent) in FY22. Any adverse changes in government procurement policies could severely impact the company’s revenue and profitability.
The top five suppliers accounted for Rs 153.97 crore (80.61 percent) of the company’s total purchases in the nine months ended December 31, 2024, Rs 132.67 crore (67.18 percent) in FY24, Rs 141.00 crore (79.92 percent) in FY23, and Rs 126.98 crore (88.41 percent) in FY22. Any disruption in supplies from one or more of these suppliers could adversely affect the company’s business and finances.
A significant portion of Prostarm Info Systems' raw material purchases relies on domestic suppliers. They accounted for Rs 180.84 crore (94.68 percent) of the company’s total purchases in the nine months ended December 31, 2024, Rs 143.88 crore (72.87 percent) in FY24, Rs 157.77 crore (89.42 percent) in FY23, and Rs 118.63 crore (82.60 percent) in FY22. Any disruptions in the domestic supply chain could adversely affect the company’s production and cost stability.
The company reported negative cash flow from investing activities, amounting to Rs 1.78 crore in the nine months ended December 31, 2024, Rs 7.86 crore in FY24, Rs 8.35 crore in FY23, and Rs 8.86 crore in FY22. Furthermore, negative cash flow from operating activities amounted to Rs 10.53 crore in the nine months ended December 31, 2024, Rs 7.80 crore in FY24, and Rs 13.50 crore in FY23. If cash outflows continue to exceed inflows in the future, the company may face liquidity challenges.
A significant portion of Prostarm Info Systems' revenue is derived from the sale of its UPS systems and third-party power solution products, including batteries. Sales from UPS systems contributed Rs 46.73 crore (17.40 percent) to the company’s total revenue in the nine months ended December 31, 2024, Rs 100.55 crore (38.99 percent) in FY24, Rs 67.84 crore (29.45 percent) in FY23, and Rs 64.83 crore (37.85 percent) in FY22. Furthermore, sales from third-party power solution products and other products contributed Rs 170.48 crore (63.46 percent) to the company’s total revenue in the nine months ended December 31, 2024, Rs 78.31 crore (30.37 percent) in FY24, Rs 124.87 crore (54.20 percent) in FY23, and Rs 96.32 crore (56.23 percent) in FY22. Any reduction in demand for these products or a shift in customer preference towards alternative suppliers could materially impact the company's revenue and financial condition.
The company, its subsidiary, promoters, directors, key managerial personnel, and senior management personnel are involved in various ongoing legal proceedings, including criminal and tax-related matters. Any adverse judgments in any of these cases could be detrimental to the company’s business prospects.
The company had contingent liabilities amounting to Rs 25.76 crore in the nine months ended December 31, 2024, a sharp increase from Rs 18.35 crore in FY24. If these contingent liabilities materialise, they could adversely impact the company’s cash flows and financial position.
All three manufacturing units of the company are located in Maharashtra. Any adverse political, social, or economic development in this region can negatively impact the company's business, financial condition, and results of operations.
The company derives a significant portion of its revenue from government contracts. They contributed Rs 124.14 crore (46.21 percent) to the company’s total revenue in the nine months ended December 31, 2024, Rs 77.93 crore (30.22 percent) in FY24, Rs 53.14 crore (23.07 percent) in FY23, and Rs 31.60 crore (18.45 percent) in FY22. If the company fails to secure such orders or projects, it could experience a material adverse effect on its business and financial condition.
As of December 21, 2024, the company has total trade receivables of Rs 98.81 crore. Any failure to collect these receivables on time or at all can negatively impact the business and its financial condition.
As of FY25, Prostarm Info Systems had outstanding financial indebtedness of Rs 66.92 crore. Any failure to service or repay these loans can hurt the company’s operations and financial position.
Prostarm Info Systems Financials
*All values are in Rs. Cr
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Application Details of Prostarm Info Systems IPO
| Apply as | Price band | Apply Range |
|---|---|---|
| Regular | ₹95 - 105 | Upto ₹2 Lakh |
| High Networth Individual | ₹95 - 105 | ₹2 - 5 Lakh |
For Prostarm Info Systems IPO, eligible investors can apply as Regular.