Primary Market     

Published: April 30, 2024
Updated: April 30, 2024

Energy Mission Machineries (India) Ltd.

Plan to go public to raise up to Rs. 41.15 crore: IPO to open on May 9

Ahmedabad based Energy Mission Machineries (India) Ltd, a leading company in designing and manufacturing of a diverse range of sheet metal machinery is planning to raise up to Rs. 41.15 crore from its SME public issue. The company has received approval to launch its public issue on NSE Emerge Platform of National Stock Exchange. The public issue opens for subscription on May 9 and closes on May 13. The proceeds of the public issue will be utilised to fund the company’s expansion plans including civil construction work, new plant & machineries at existing manufacturing unit at Sanand, Gujarat, meeting the working capital requirements and general corporate purposes. Hem Securities Limited is the book running lead manager of the issue.

Energy Mission Machineries (India) designs and manufactures CNC, NC, and conventional metal forming machines that cater to the industrial sector’s need for metal fabrication solutions. The company’s range of metal forming machines includes press brake machines, shearing machines, plate rolling machines, ironworker machines, hydraulic presses, and busbar bending, cut- ting, and punching machines. The company’s machines are used across various industries, including automotive, steel, pre-engineered buildings, furniture, HVAC, agricultural equipment, road construction equipment, elevators, food processing machinery, metalworking workshops, etc

Energy Mission Machineries (India) has sold its products to customers in over 20 states and 2 union territories in India. Additionally, the company has exported its products to several countries worldwide, including the USA, Switzerland, Russia, Nepal, Kenya, Uganda, UAE, Saudi Arabia, and other countries in the Middle East.

The company’s manufacturing facility is situated in Sanand, Ahmedabad, spread over 18,234 sq. mtrs. The manufacturing facility is ISO 9001:2015 certified and has installed capacity to produce 900 machines annually. Company has sold its products in 20 states and 2 Union Territories in India, with most revenue from Maharashtra, Gujarat, and Karnataka.

The company has reported operational and financial performance over years. For the 9 months of FY 23-24 ended December 2023, company has reported consolidated total income of Rs. 83.99 crore, EBITDA of Rs. 12.71 crore and Net Profit of Rs. 6.74 crore. For full year of FY 22- 23, company reported total income of Rs. 100.66 crore, EBITDA of Rs. 13.61 crore and Net profit of Rs. 7.90 crore. As on 30th December 2023, Net Worth of the company was reported at Rs. 30.28 crore, Reserves & Surplus at Rs. 21.93 crore. Shares of the company will be listed on NSE’s Emerge platform.