SRM Contractors IPO

SRM Contractors Limited

₹14,000 /70 sharesMinimum Investment

SRM Contractors IPO Listing Details

Listed OnIssue PriceListing PriceListing Gains
BSE & NSE₹210.00₹215.25₹5.25 (2.50%)

SRM Contractors IPO Details

Bidding DatesMin. InvestmentLot SizePrice Range
26 Mar ‘24 - 28 Mar ‘24₹14,00070₹200 - ₹210
Issue SizeIPO Doc
130.20Cr
RHP PDF

Subscription Status As on 28 Mar '24, 5:00 PM

  • Qualified Institutional Buyers
    59.59x
  • Non-Institutional Investor
    179.60x
  • Retail Individual Investor
    46.97x
  • Total
    86.57x

About SRM Contractors

SRM Contractors Limited is an engineering construction and development firm that undertakes civil construction activities. It is involved in constructing roads, including bridges, tunnels, and slope stabilization works. The company serves as an EPC contractor and offers item rate-based services for infrastructure projects, along with undertaking subcontracting assignments. It primarily operates in the Union Territories of Jammu & Kashmir and Ladakh. The company operates through these main business verticals, road projects, tunnel projects and slope stabilization works. It also undertakes other miscellaneous civil construction activities: such as drainage works and construction of government housing and residential units.;
Parent Organisation
SRM Contractors Limited
Founded
2008
Managing Director
Mr. Sanjay Mehta

Strengths & Risks

  • Since its establishment, the company has completed 37 infrastructure construction projects, either independently or through project-specific joint ventures. These projects, with an aggregate contract value of Rs. 770.8 cr, consist of 31 road projects, 3 tunnel projects, 1 slope stabilization work, and 2 other miscellaneous civil construction activities.
  • As of September 15, 2023, the company owns and maintains 227 equipment and machinery, including 7 hot mix plants, 6 stone crushers, 21 excavators, 18 backhoe loaders, 42 tippers/dumpers, 3 boomers, 3 shotcrete machines, 7 hot bitumen pressure distributors, 3 wet mix macadam plants, 7 tandem roller compactors, 5 road rollers, 7 pavers, 4 graders, etc.
  • The company reported revenue from operations of Rs. 300.29 cr in Financial Year 2023, Rs. 263.61 cr in Financial Year 2022, and Rs. 160.06 cr in Financial Year 2021, reflecting 13.91% year-on-year growth in Financial Year 2023 and 63.60% year-on-year growth in Financial Year 2022. The company reported Profit after tax of Rs. 8.27 cr, Rs. 17.57 cr, and Rs. 18.75 cr in FY 2021, 2022 and 2023 respectively.
  • The company's operations are primarily focused in the Union Territory of Jammu & Kashmir and Ladakh, thus exposing it to risks stemming from economic, regulatory, and other fluctuations within these regions.
  • A substantial portion of the company's revenues is derived from a small number of clients. For FY 2022-23, the company’s Top 5 clients contributed 71.66% of its revenues and the Top 10 clients contributed 92% of its revenues.
  • The company's business operations are working capital intensive and often entail lengthy implementation periods. Significant financing is necessary to support these operations. The level of indebtedness and the terms and limitations set forth in financing agreements could potentially hinder the company's ability to carry out its business activities effectively.
  • The company, along with its promoters, directors, and joint ventures, is involved in litigation proceedings that pose the risk of material adverse outcomes.
  • The company relies on its subcontractors to execute various aspects of the contracts it receives. This dependency subjects the company to risks associated with the availability and performance of its subcontractors.

Financials

*All values are in Rs. Cr
No Graph Data To Display

Application details

Apply asPrice bandApply upto
Regular200 - 210₹2 Lakh
High Networth Individual200 - 210₹2 - 5 Lakh
For SRM Contractors IPO, eligible investors can apply as Regular.
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