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Systematic Industries IPO IPO
Systematic Industries Ltd
₹1,11,000 /600 sharesMinimum Investment
Systematic Industries IPO IPO Details
| Bidding Dates | Min. Investment | Lot Size | Price Range |
|---|---|---|---|
| 24 Sep ‘25 - 26 Sep ‘25 | ₹2,22,000 | 600 | ₹185 - ₹195 |
| Issue Size | IPO Doc |
|---|---|
| 115.60Cr | RHP PDF |
Subscription rate
As of 25 Sep'25, 06:01 PM
| Qualified Institutional Buyers | 1.18x |
| Non-Institutional Investor | 0.45x |
| Retail Individual Investor | 0.43x |
| Total | 0.63x |
About Systematic Industries IPO
Founded in
2000
Managing director
Mr Siddharth Rajendra Agarwal
Parent organisation
Systematic Industries Ltd
Strengths & Financials of Systematic Industries IPO
Strengths
Risks
Systematic Industries operates four manufacturing units with a combined installed capacity of 1,00,000 MTPA. The company manufactures a wide range of products, including high and low carbon steel wires, optical ground wire (6,000 km annual capacity), and optical fibre cables (48,000 km annual capacity).
The company claims to have a fully integrated manufacturing setup equipped with wire drawing machines, galvanising plants, ACS cladding and rewinding machines, and a range of specialised testing equipment. This in-house capability reportedly allows for full-cycle production and quality monitoring.
Systematic Industries is ISO 9001:2015 certified for its quality management systems. In addition, it holds ISO 14001:2015 certification for its environmental management systems and ISO 45001:2018 certification for its occupational health and safety management systems.
The company claims to operate an in-house testing lab equipped with devices such as tensile testing machines, impact testing machines, torsion testers, and vibration testing equipment. These instruments are calibrated by NABL-accredited agencies and used for routine and advanced tests as per industry norms.
Systematic Industries derives its revenue from multiple sectors, including power transmission, infrastructure, agriculture, and telecom, with no single industry concentration. As of FY25, the company markets its products across India and in more than 30 countries, including Sri Lanka, Japan, and Canada.
The company has reported a consistent increase in revenue from operations and profit after tax (PAT). Revenue from operations increased from Rs 320.48 crore in FY23 to Rs 370.31 crore in FY24 and Rs 446.51 crore in FY25. PAT increased from Rs 6.31 crore in FY23 to Rs 12.40 crore in FY24 and Rs 18.46 crore in FY25.
The power and transmission industry accounted for Rs 305.51 crore (68.47 percent) of the company’s total sales in FY25, Rs 213.97 crore (57.84 percent) in FY24, and Rs 156.74 crore (48.98 percent) in FY23. Any disruption in this sector can impact the company’s revenue and financial stability.
The top three suppliers accounted for Rs 175.03 crore (49.76 percent) of the company’s total purchases in FY25, Rs 124.23 crore (41.89 percent) in FY24, and Rs 115.20 crore (43.02 percent) in FY23. Furthermore, the top supplier alone accounted for Rs 97.80 crore (27.80 percent) of the company’s total purchases in FY25, Rs 45.77 crore (15.43 percent) in FY24, and Rs 42.26 crore (15.78 percent) in FY23. Any delay, interruption, or reduction in the supply of raw materials from these vendors may adversely affect the company’s operations, particularly as it does not have long-term contracts in place with these suppliers.
The cost of goods sold accounted for Rs 346.73 crore (81.70 percent) of the company’s total expenses in FY25, Rs 288.06 crore (80.92 percent) in FY24, and Rs 257.68 crore (82.21 percent) in FY23. Any sudden increase in the price of raw materials or an inadequate supply could hurt the company’s business operations and profitability.
Maharashtra accounted for 45.47 percent, 41.41 percent and 30.81 percent of the total purchases of raw material in FY25, FY24, and FY23, respectively. This heavy reliance on a single state exposes the company to risks associated with economic fluctuations, competitive pressures, or demographic changes in Maharashtra, any of which could hurt its overall financial performance.
The company reported negative cash flow from operating activities amounting to Rs 6.75 crore in FY23. Additionally, negative cash flow from investing activities amounted to Rs 19.99 crore in FY25, Rs 24.46 crore in FY24, and Rs 14.97 crore in FY23. If cash outflows continue to exceed inflows, the company may face liquidity challenges in the future.
Gujarat accounted for 25.83 percent, 24.93 percent and 25.50 percent of the company’s total revenue in FY25, FY24, and FY23, respectively. Any disruption in this region could hurt the company’s revenue and results of operations.
The company’s operations depend heavily on the performance of the steel wires market in India and globally. It accounted for 97.81 percent of the company’s revenue in FY25, 98.72 percent in FY24, and 98.10 percent in FY23. Any adverse changes in market conditions, such as fluctuations in demand, shifts in government policies, economic factors, raw material availability, or interest rates, could hurt the company’s operations, cash flows, and prospects.
The top 10 customers accounted for Rs 153.44 crore (34.39 percent) of the company’s total sales in FY25, Rs 146.18 crore (39.51 percent) in FY24, and Rs 139.09 crore (43.46 percent) in FY23. Any failure to retain these key customers, expand the customer base, or loss of business from these clients can adversely affect the company’s business and financial standing.
As of FY25, the company had contingent liabilities of Rs 4.25 crore. If any of these contingent liabilities materialise, it could adversely affect the company’s financial condition.
As of FY25, the company had financial indebtedness of Rs 103.35 crore. Any failure to service or repay these loans can hurt the company’s operations and financial position.
Systematic Industries IPO Financials
*All values are in Rs. Cr
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Application Details of Systematic Industries IPO IPO
| Apply as | Price band | Apply Range |
|---|---|---|
| Individual investor | ₹185 - 195 | ₹2 - 5 Lakh |
For Systematic Industries IPO IPO, eligible investors can apply as Individual investor.