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SUGS Lloyd IPO
Sugs Lloyd Ltd
₹1,17,000 /1000 sharesMinimum Investment
SUGS Lloyd IPO Listing Details
| Listed On | Issue Price | Listing Price | Listing Gains |
|---|---|---|---|
| -- | ₹123.00 | ₹119.90 | -₹3.10 (2.52%) |
SUGS Lloyd IPO Details
| Bidding Dates | Min. Investment | Lot Size | Price Range |
|---|---|---|---|
| 29 Aug ‘25 - 2 Sep ‘25 | ₹2,34,000 | 1,000 | ₹117 - ₹123 |
| Issue Size | IPO Doc |
|---|---|
| 85.66Cr | RHP PDF |
Subscription rate
As of 02 Sep'25, 04:01 PM
| Qualified Institutional Buyers | 2.03x |
| Non-Institutional Investor | 5.34x |
| Retail Individual Investor | 1.90x |
| Total | 2.78x |
About SUGS Lloyd
Founded in
2009
Managing director
Mrs. Priti Shah
Parent organisation
Sugs Lloyd Ltd
Strengths & Financials of SUGS Lloyd
Strengths
Risks
The company is ISO 9001:2015 certified for quality management systems, ISO 14001:2015 certified for environmental management systems, ISO 27001:2013 certified for information security management systems, and ISO 45001:2018 certified for occupational health and safety management systems.
Sugs Lloyd claims to have established long-term relationships with government power utilities, private power entities, and renewable energy developers, which enable them to secure repeat business and participate in projects through both open bidding and preferential arrangements.
The company claims that its business model focuses on efficient use of resources, leveraging the expertise of its development team, and ensuring client satisfaction. It further states that this model has proven effective and scalable in recent years. The company sees growth opportunities by expanding into new sectors that require advanced technological management, as well as by strengthening its services in the renewable energy sector, where it already operates.
The company claims that it follows stringent quality standards at every stage, from project initiation to service and assembly. The company states that it carefully assigns the right personnel to the right roles, which allows it to provide reliable and specialised services to its clients.
The company has witnessed a consistent increase in its revenue from operations and profit after tax (PAT). Revenue from operations rose from Rs 35.79 crore in FY23 to Rs 65.12 crore in FY24 to Rs 176.20 crore in FY25. PAT increased from Rs 2.29 crore in FY23 to Rs 10.48 crore in FY24 to Rs 16.78 crore in FY25.
The top 10 customers accounted for Rs 154.94 crore (87.93 percent) of the company’s total revenue in FY25, Rs 60.85 crore (93.44 percent) in FY24, and Rs 34.81 crore (96.78 percent) in FY23. These clients are a part of industrial groups such as solar sales, EPC electrical, civil sales, and manpower. Any failure to retain these key clients, secure repeat orders, or any adverse changes in the industries in which these clients operate could negatively affect Sugs Lloyd’s business and financial standing.
Revenue from government clients accounted for 93.44 percent of the company’s total revenue in FY25, 69 percent in FY24, and 45 percent in FY23. Any adverse changes in the government policies, regulations, procurement rules, or any significant reduction in government spending could negatively impact the company’s business performance and financial stability.
Sugs Lloyd reported negative cash flows from operating activities amounting to Rs 44.44 crore in FY25, Rs 4.28 crore in FY24, and Rs 10.42 crore in FY23. It also experienced negative cash flow from investing activities amounting to Rs 8.56 crore in FY25, Rs 3.98 crore in FY24, and Rs 0.42 crore in FY23. If cash outflows continue to exceed inflows, the company may face liquidity challenges in the future.
The company’s bid-to-win ratio has declined over the past three years. In FY23, it submitted 16 bids and won 7 (a 44 percent success rate). In FY24, it applied for 84 bids and secured 29 (a 35 percent success rate). In FY25, it submitted 32 bids and won 10 (a 31.25 percent success rate). While the company has not experienced issues with inaccurate cost estimations so far, there is no assurance that such risks will not occur in the future. Any miscalculations in cost or ineffective bidding strategies could harm profitability, financial performance, and returns on investment.
Trade receivables increased sharply to Rs 88.76 crore in FY25 from Rs 24.54 crore in FY24, showing a rise of 261.63 percent. This was mainly due to a significant jump in revenue from operations, which grew to Rs 176.20 crore in FY25 compared to Rs 65.12 crore in FY24. It is important that the company collects these outstanding amounts. Investors should keep an eye on this metric. Any delay or failure in collecting these receivables on time may negatively impact its cash flows and working capital position.
The top 5 suppliers accounted for 39.17 percent of the company’s total purchases in FY25, 37.46 percent in FY24, and 65.59 percent in FY23. Any failure to maintain relationships with these key suppliers or disruptions in the supply chain may adversely affect Sugs Lloyd’s business operations and financial performance.
The company is involved in certain ongoing legal proceedings, which include a criminal case. Any adverse judgments in any of these cases could be detrimental to the company’s business prospects.
As of FY25, the company had total outstanding financial indebtedness of Rs 74.82 crore. Any inability to service or repay these loans could adversely affect its financial stability and limit access to further funding.
SUGS Lloyd Financials
*All values are in Rs. Cr
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Application Details of SUGS Lloyd IPO
| Apply as | Price band | Apply upto |
|---|---|---|
| Individual investor | ₹117 - 123 | ₹2 - 5 Lakh |
For SUGS Lloyd IPO, eligible investors can apply as Individual investor.