Karbonsteel Engineering
September 8, 2025 – September 10, 2025
| Price | ₹151 - ₹159 |
| GMP Rumors * | ₹0 |
|---|---|
| Lot size | 800 |
| Allotment | Sep 11, 2025 |
| Listing | Sep 15, 2025 |
Karbonsteel Engineering Lot(s) Distribution
| Category | Lot(s) | Qty | Amount | Reserved |
|---|---|---|---|---|
| INDIVIDUAL | 2 | 1600 | 254400 | 775 |
| sHNI | 3 | 2400 | 381600 | 74 |
| bHNI | 8 | 6400 | 1017600 | 148 |
Karbonsteel Engineering Reservation
| Category | Shares Offered | % |
|---|---|---|
| Anchor | 1060800 | 28.44% |
| QIB | 708000 | 18.98% |
| HNI | 532800 | 14.29% |
| INDIVIDUAL | 1240000 | 33.25% |
| Market Maker | 188000 | 5.04% |
| Total | 3729600 | 100% |
Karbonsteel Engineering About
IPO Details
| Total Issue Size | 37,29,600 shares (aggregating up to ₹59.30 Cr) |
| Fresh Issue | 30,39,600 shares (aggregating up to ₹48.33 Cr) |
| Offer For Sale | 6,90,000 shares (aggregating up to ₹10.97 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 1,11,02,222 shares |
| Share Holding Post Issue | 1,41,41,822 shares |
| Reserved for Market Maker | 1,88,000 shares (aggregating up to ₹2.99 Cr) |
| Market Maker | Rikhav Securities Limited & SS Corporate Securities Ltd. |
Key Performance Indicator (KPI)
| KPI | Mar-25 | Mar-24 | Mar-23 |
|---|---|---|---|
| ROE | 27.19% | 25.99% | 19.51% |
| ROCE | 24.63% | 22.93% | 19.05% |
| EPS (basic) | 12.78 | 9.42 | 5.11 |
| P/E Pre IPO | 12.47 | ||
| P/E Post IPO | 15.88 |
Company Financial (In ₹Crore)
| Period Ended | Mar-25 | Mar-24 | Mar-23 |
|---|---|---|---|
| Assets | 232.76 | 176.14 | 143.76 |
| Total Income | 273.91 | 218.77 | 155.89 |
| Profit After Tax | 14.16 | 9.42 | 5.11 |
| EBITDA | 36.61 | 25.79 | 16.22 |
| Net Worth | 60.37 | 43.8 | 28.74 |
| Reserves and Surplus | 49.27 | 38.41 | 23.74 |
| Total Borrowing | 78.55 | 59.83 | 48.52 |
Peer Comparision (Valuation)
| Company | P/E (x) | CMP*(₹) | Face value (₹) |
|---|---|---|---|
| Karbonsteel Engineering Limited | - | - | 10.00 |
| Atmastco Limited | 31.28 | 243.95 | 10.00 |
| Goodluck India Limited | 19.32 | 978.6 | 2.00 |
Peer Comparison (Financial Performance)
| Company | RoNW (%) | EPS (Basic) (₹) |
|---|---|---|
| Karbonsteel Engineering Limited | 23.45% | 12.78 |
| Atmastco Limited | 15.15% | 7.8 |
| Goodluck India Limited | 12.63% | 50.66 |
About Company
- Established in 2011, Karbonsteel Engineering Limited is an engineering solutions provider.
- The company specializes in designing, manufacturing, and supplying high-quality steel products across multiple industries.
Industry Presence
- Provides structural engineering and fabrication solutions for:
- Steel Plants
- Railway Bridges
- Oil & Gas Plants
- Refineries
- Large-scale Infrastructure & Industrial Projects (construction, expansion, modernization)
Manufacturing Facilities
- Operates two manufacturing units in Gujarat and Maharashtra.
- Combined production capacity: 32,400 MT per year.
- Key outputs: Heavy Steel Structures, PEBs, Steel Bridges.
Service Offerings
- Heavy Steel Fabricated Structures
- Large steel components supporting heavy industrial and infrastructure loads.
- Precision Fabricated Steel Structures
- Customized, high-accuracy steel components for industrial and process applications.
- Steel Bridge Structures
- Strong steel components for railway and road bridges with high load-bearing capacity.
- Pre-Engineered Buildings (PEBs)
- Customized steel systems offering efficient and cost-effective solutions for industrial and commercial buildings.
Strength
Proven Project Execution: The company has demonstrated strong capabilities in handling large-scale industrial and infrastructure projects, including the fabrication of 10,000 MT steel bridge structures for India’s first bullet train corridor (MAHSR).
Strong Order Book Growth: A steadily growing order book provides revenue visibility, increasing from ₹6,487.99 lakhs in FY23 to ₹32,981.97 lakhs as of July 31, 2025.
Robust In-House Facilities: With two advanced manufacturing units in Gujarat and Maharashtra and a combined capacity of 36,000 MT p.a., the company ensures efficient production, testing, and quality compliance.
Weakness
Customer Concentration Risk: A large share of revenue depends on a few key customers, and losing any of them could significantly impact business performance.
Project Execution Risk: Delays or cost overruns in project execution can negatively affect financial results and overall operations.
Sector Dependency Risk: The company’s growth is linked to capital investments in industrial and infrastructure sectors; any slowdown in these areas may hurt business prospects.
Karbonsteel Engineering Lead Manager(s)
Karbonsteel Engineering Address
B-8 Ratnadeep Cosmopolitan Chs Ltd,
140-141 S.V. Road, Nr. Shoppers Stop, Andheri (W),
Mumbai, 400058
Mumbai, Maharashtra, 400058
Phone: +91-22- 61872821
Email: info@karbonsteel.com
Website: https://www.karbonsteel.com/