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Samay Project IPO
Samay Project Services Ltd
₹1,28,000 /4000 sharesMinimum Investment
Samay Project IPO Listing Details
| Listed On | Issue Price | Listing Price | Listing Gains |
|---|---|---|---|
| -- | ₹34.00 | ₹36.05 | ₹2.05 (6.03%) |
Samay Project IPO Details
| Bidding Dates | Min. Investment | Lot Size | Price Range |
|---|---|---|---|
| 16 Jun ‘25 - 18 Jun ‘25 | ₹1,28,000 | 4,000 | ₹32 - ₹34 |
| Issue Size | IPO Doc |
|---|---|
| 14.69Cr | RHP PDF |
Subscription rate
As of 18 Jun'25, 04:00 PM
| Qualified Institutional Buyers | 18.96x |
| Non-Institutional Investor | 31.43x |
| Retail Individual Investor | 8.89x |
| Total | 15.42x |
About Samay Project
Founded in
2001
Managing director
Mr Anand Rajgopal
Parent organisation
Samay Project Services Ltd
Strengths & Financials of Samay Project
Strengths
Risks
Samay Project Services claims to have a technically skilled engineering team organised by product verticals, with experience in designing piping systems for firefighting, hydrocarbon, power, and industrial projects. The company claims to use AutoPlant computer-aided design (CAD) modelling for layout and engineering drawings, and Canute software for hydraulic calculations in fire protection systems, which reportedly aids in optimising design and preventing routing issues during execution.
As of FY24, the company claims to have completed EPC projects worth Rs 40.75 crore across India and overseas in sectors such as power, sugar, distilleries, iron and steel, infrastructure, and mining. It further claims to leverage long-standing relationships with equipment manufacturers and suppliers to support consistent execution and timely delivery in these sectors.
The company claims to have developed long-term working relationships with several large clients, contributing to a stable source of repeat business.
The company is ISO 9001:2015 certified for its quality management system.
The company has witnessed a consistent increase in revenue from operations and profit after tax (PAT). Revenue from operations increased from Rs 18.87 crore in FY22 to Rs 20.36 crore in FY23 and Rs 40.75 crore in FY24. PAT increased from Rs 1.90 crore in FY22 to Rs 3.44 crore in FY23 and Rs 4.61 crore in FY24.
The top five customers accounted for Rs 12.56 crore (69.14 percent) of the company’s revenue in the period ended September 30, 2024, Rs 25.40 crore (62.34 percent) in FY24, Rs 11.17 crore (54.86 percent) in FY23, and Rs 14.05 crore (74.46 percent) in FY22. 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 flow from investing activities amounting to Rs 0.09 crore in the period ended September 30, 2024, and Rs 0.46 crore in FY22. Furthermore, negative cash flow from financing activities amounted to Rs 0.26 crore in the period ended September 30, 2024, Rs 1.00 crore in FY24, and Rs 0.70 crore in FY22. Additionally, the company experienced negative cash flow of Rs 1.61 crore from operating activities in FY23. If cash outflows continue to exceed inflows in the future, the company may face liquidity challenges.
Government customers accounted for Rs 7.50 crore (41.30 percent) of the company’s revenue in the period ended September 30, 2024, Rs 21.80 crore (53.51 percent) in FY24, Rs 10.28 crore (50.48 percent) in FY23, and Rs 1.02 crore (5.40 percent) in FY22. Any adverse changes in central or state government policies may lead to the company’s orders being foreclosed, terminated, restructured, or renegotiated, which could have a material impact on its business and results of operations.
Cost of materials consumed accounted for Rs 10.48 crore (66.60 percent) of the company’s total expenses in the period ended September 30, 2024, Rs 23.64 crore (68.07 percent) in FY24, Rs 11.36 crore (65.47 percent) in FY23, and Rs 9.05 crore (55.54 percent) in FY22. Any increase in the prices or the company’s inability to obtain raw materials could adversely affect its business and results of operations.
The top five suppliers accounted for 49.89 percent of the company’s total purchases in the period ended September 30, 2024, 42.71 percent in FY24, 58.06 percent in FY23, and 50.22 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 the company’s raw materials is sourced from Maharashtra and Tamil Nadu. Maharashtra accounted for Rs 4.27 crore (42.73 percent) of the company’s total purchase of raw materials in the period ended September 30, 2024, Rs 5.22 crore (22.31 percent) in FY24, Rs 1.88 crore (16.01 percent) in FY23, and Rs 2.53 crore (25.64 percent) in FY22. Tamil Nadu accounted for Rs 3.92 crore (39.25 percent) of the company’s total purchase of raw materials in the period ended September 30, 2024, Rs 5.34 crore (22.81 percent) in FY24, Rs 2.53 crore (21.57 percent) in FY23, and Rs 4.15 crore (42.11 percent) in FY22. Any adverse political, social, or economic developments in these regions could hurt the company’s revenue and results of operations.
The company and its promoters are involved in certain legal proceedings. Any adverse judgments in any of these cases could be detrimental to the company’s business prospects.
A significant portion of the company’s revenue is derived from EPC services in the power industry. This sector accounted for Rs 7.35 crore (40.44 percent) of the company’s revenue in the period ended September 30, 2024, Rs 21.49 crore (52.74 percent) in FY24, Rs 9.97 crore (49.00 percent) in FY23, and Rs 0.38 crore (2.01 percent) in FY22. Any reduction in demand or requirements for EPC projects could result in a loss of business and negatively impact the company’s finances.
A significant portion of the company’s revenue is derived from Telangana. It accounted for Rs 8.73 crore (48.07 percent) of the company’s revenue in the period ended September 30, 2024, Rs 9.12 crore (22.37 percent) in FY24, and Rs 5.83 crore (28.61 percent) in FY23. Any disruption in this region could negatively impact the company’s revenue and results of operations.
Samay Project Financials
*All values are in Rs. Cr
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Application Details of Samay Project IPO
| Apply as | Price band | Apply upto |
|---|---|---|
| Regular | ₹32 - 34 | ₹2 - 5 Lakh |
| High Networth Individual | ₹32 - 34 | ₹2 - 5 Lakh |
For Samay Project IPO, eligible investors can apply as Regular.