Tankup Engineers Limited IPO

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The company operates in the niche domain of manufacturing specialised vehicle superstructures, offering complex mobility and storage solutions tailored to a wide range of industries. They specialize in the fabrication of custom-designed tanks and container-based solutions used for the transportation and on-site storage of liquids, gases, and solids. These solutions cater to specific industrial needs where conventional supply chains or fixed infrastructure may not be viable.

They manufacture mobile superstructure solutions, which include but are not limited to:
i. Mobile Refuellers                                 ii. Water Sprinklers                          iii. Mobile Service Vans
iv. Explosive Transport Vans                v. Tank Trucks                                   vi. Blasting Shelters
vii. Workshop Containers

Each of these is tailored to industry-specific applications and custom-engineered to meet requirements on:
i. Capacity                                                ii. Material specifications                 iii. Mobility
iv. Regulatory compliance                    v. Safety and security features

Their solutions are deployed across a broad spectrum of sectors, such as:
i. Petroleum and Energy                        ii. Mining and Infrastructure         iii. Defence and Military
iv. Aviation and Ground Handling

The company is positioning itself as a comprehensive mobility solution provider by integrating innovation (IoT, GPS) with domain-specific engineering for logistics, defence, infrastructure, and aviation sectors. With a strong focus on customized design and application-specific vehicles, they address critical logistical challenges faced by India’s core industries, especially in hard-to-reach locations or strategic operations.

Objects of the Tankup Engineers Limited IPO:

The Company Tankup Engineers IPO proposes to utilise the Net Proceeds from the Issue towards the following objects: i. Repayment in full or in part, of certain of the outstanding borrowings; ii. Funding to meet working capital requirements; iii. General Corporate Purpose.
DRHP of Tankup Engineers Limited IPO
RHP of Tankup Engineers Limited IPO

Tankup Engineers Limited IPO Details:

Open Date: Apr 23 2025
Close Date: Apr 25 2025
Total Shares: 13,95,000
Face Value: ₹ 10 Per Equity Share
Issue Size: 19.53 Cr.
Lot Size: 1000 Shares
Issue Price: ₹ 133 - 140 Per Equity Share
Listing At: NSE Emerge
Listing Date: Apr 30 2025

Promoters And Management:

Gaurav Lath, aged 38, is the Managing Director and Promoter of the Company since its inception. With over 17 years of experience in core manufacturing sectors like railways, oil, rubber, and metal products, he brings strong expertise in operations, procurement, and management. He holds a Postgraduate Diploma in Business Management and has attended leadership programs at Oxford and Harvard. As MD of the listed group company, Concord Control Systems Limited, his strategic vision has been key to the growth. Gaurav oversees production, supply chain, and business development, driving operational efficiency and product diversification. Pankhuri Lath, aged 38, is the Promoter, Whole-Time Director, and CFO of the Company. Associated with the company since November 2020, she brings 10 years of experience in accounts and finance. She holds a Master’s in Commerce from Chhatrapati Shahu Ji Maharaj University, Kanpur (2010) and currently oversees the finance, accounts, and administrative functions of the company. Govind Prasad Lath, aged 82, is the Chairman and Non-Executive Director of the Company. With over 20 years of experience in manufacturing, petroleum, and fabrication, he currently contributes to the company’s administrative functions.

Financials of Tankup Engineers Limited IPO:

In Cr.
Particulars Nov 30, 2024 March 31, 2024 March 31, 2023 March 31, 2022
Revenue from Operations 12.45 19.41 11.81 1.39
EBITDA 1.57 3.46 1.27 0.08
EBITDA Margins 12.63% 17.84% 10.77% 5.82%
PAT 0.94 2.56 0.78 0.046
PAT Margins 7.61% 13.23% 6.68% 3.29%
ROCE 10.63% 46.49% 30.30% 3.89%
CFOA -4.14 -0.80 -0.65 -0.59

Comparison With Peers:

As per RHP, no listed peers.

Recommendation on Tankup Engineers Limited IPO:

To be updated.

Lead Manager of Tankup Engineers Limited IPO:

  1. Hem Securities Limited

Registrar of Tankup Engineers Limited IPO:

  1. Bigshare Services Private Limited

Company Address:

Tankup Engineers Limited 1262, SA Goila, Chinhat, Phone: +91-7800008707 Email: cs@tankup.co.in Website: https://www.tankup.co.in/

Discussion on Tankup Engineers Limited IPO:

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