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Swastika Castal IPO
Swastika Castal Ltd
₹1,30,000 /2000 sharesMinimum Investment
Swastika Castal IPO Listing Details
| Listed On | Issue Price | Listing Price | Listing Gains |
|---|---|---|---|
| -- | ₹65.00 | ₹67.00 | ₹2.00 (3.08%) |
Swastika Castal IPO Details
| Bidding Dates | Min. Investment | Lot Size | Price Range |
|---|---|---|---|
| 21 Jul ‘25 - 23 Jul ‘25 | ₹2,60,000 | 2,000 | ₹65 - ₹65 |
| Issue Size | IPO Doc |
|---|---|
| 14.07Cr | RHP PDF |
Subscription rate
As of 23 Jul'25, 04:00 PM
| Qualified Institutional Buyers | 0.00x |
| Non-Institutional Investor | 1.85x |
| Retail Individual Investor | 7.18x |
| Total | 4.28x |
About Swastika Castal
Founded in
1996
Managing director
Mr Varun Sharda
Parent organisation
Swastika Castal Ltd
Strengths & Financials of Swastika Castal
Strengths
Risks
Swastika Castal claims to have invested in advanced testing facilities to ensure high-quality production. The company operates specialised labs, including a chemical lab for material composition analysis, a physical lab for tensile and hardness testing, and a sand testing lab to verify the quality of casting materials.
Swastika Castal claims to have a strong presence in global markets, with export channels to regions such as Europe and the US.
The company claims to be strategically investing in sustainability initiatives, including the transition from oil-fired furnaces to electric melting furnaces, to reduce carbon emissions. It is also installing solar panels to decrease energy consumption and lower its carbon footprint.
The company is ISO 9001:2015 certified for its quality management systems, ISO 14001:2015 certified for its environmental management systems, and ISO 45001:2018 certified for occupational health and safety.
The company has reported a consistent increase in profit after tax (PAT). It increased from Rs 0.58 crore in FY23 to Rs 0.65 crore in FY24 and Rs 2.63 crore in FY25.
The top five customers accounted for Rs 23.82 crore (80.69 percent) of the company’s revenue in FY25, Rs 18.73 crore (82.75 percent) in FY24, and Rs 21.49 crore (90.15 percent) in FY23. 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’s production facilities have experienced varying levels of capacity utilisation. For instance, its foundry unit operated at 57.25 percent capacity in FY25, and past years have seen significantly lower utilisation levels in computer numerical control (CNC) machining and helium testing processes. Any continued or future underutilisation of manufacturing facilities may adversely impact Swastika Castal's profitability, fixed cost absorption, and return on investment.
The top five suppliers accounted for Rs 11.11 crore (70.34 percent) of the company’s revenue in FY25, Rs 7.78 crore (94.70 percent) in FY24, and Rs 8.64 crore (90.80 percent) in FY23. Any disruption in supplies from one or more of these suppliers could adversely affect the company’s business and finances.
The company reported negative cash flow from investing activities amounting to Rs 1.30 crore in FY25, Rs 0.74 crore in FY24, and Rs 0.90 crore in FY23. Additionally, negative cash flow from financing activities amounted to Rs 0.98 crore in FY25 and Rs 1.72 crore in FY24. If cash outflows continue to exceed inflows in the future, the company may face liquidity challenges.
Swastika Castal operates a single manufacturing facility located at Block No. 535, Vemardi Road, Karjan, Vadodara, Gujarat. Any disruption at this unit due to internal or external causes could be detrimental to the company’s operations and business prospects.
As of FY25, the company had trade receivables amounting to Rs 10.69 crore, a sharp increase from Rs 5.71 crore in FY24. Any failure to collect these receivables on time or at all can negatively impact the business and its financial condition.
As of FY25, the company had outstanding financial indebtedness amounting to Rs 9.12 crore. Any failure to service or repay these loans can harm the company’s operations and financial position.
Swastika Castal Financials
*All values are in Rs. Cr
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Application Details of Swastika Castal IPO
| Apply as | Price band | Apply Range |
|---|---|---|
| Regular | ₹65 - 65 | ₹2 - 5 Lakh |
| High Networth Individual | ₹65 - 65 | ₹2 - 5 Lakh |
For Swastika Castal IPO, eligible investors can apply as Regular.