Apollo Techno Industries Limited IPO
Apollo Techno Industries Limited is a Mehsana-based manufacturer specializing in trenchless technology and foundation equipment for the construction and infrastructure industry. The Company designs, manufactures, and supplies advanced construction drilling equipment catering to both domestic and international markets. In addition to equipment manufacturing, the Company provides warranties, on-site technical support, training services, and refurbishment of used machines, ensuring comprehensive lifecycle support for its customers.
Product Portfolio and Applications
i) Horizontal Directional Drilling (HDD) Rigs: HDD rigs are used for trenchless installation of underground utilities such as gas pipelines, water supply lines, sewer systems, optical fibre cables, and electrical conduits, particularly in urban and utility-dense environments.
ii) Diaphragm Drilling Rigs: These rigs are deployed in the construction of diaphragm walls used for deep basements, metro stations, airports, railway infrastructure, riverfront developments, and retaining structures.
iii) Rotary Drilling Rigs: Rotary drilling rigs are primarily used for piling and foundation works for high-rise buildings, bridges, and other large infrastructure projects.
iv) Spare Parts and Refurbishment Services: The Company supplies spare parts to support machine uptime and offers refurbishment services for used machines at its manufacturing facility, reinforcing sustainability and cost efficiency for customers.
Market Presence and Customer Base
The Company has established a strong domestic sales presence across multiple states, with Gujarat being the largest contributor. As of June 30, 2025, Gujarat accounted for 39.05% of domestic sales, followed by Delhi (12.70%) and Haryana (12.06%).
Its customers primarily include contractors, infrastructure development companies, proprietors, and project-based machine owners operating in construction and utility installation projects.
Industry Positioning
According to a Dun & Bradstreet Report (October 2025), Apollo Techno Industries Limited is the only domestic manufacturer engaged in the manufacturing of Horizontal Directional Drilling equipment, Diaphragm Wall Drilling Rigs, and one of the manufacturers of Rotary Drilling Rigs in India. The report highlights that most other players in this segment are subsidiaries of global manufacturers, positioning Apollo Techno Industries Limited as a differentiated Indian player in this specialized equipment segment.
Objects of the Apollo Techno Industries Limited IPO:
Apollo Techno Industries Limited IPO Details:
| Open Date: | Dec 23 2025 |
| Close Date: | Dec 26 2025 |
| Total Shares: | 36,89,000 |
| Face Value: | ₹ 10 Per Equity Share |
| Issue Type: | Book Building |
| Issue Size: | 47.96 Cr. |
| Lot Size: | 1000 Shares |
| Issue Price: | ₹ 123-130 Per Equity Share |
| Listing At: | BSE SME |
| Listing Date: | Dec 31 2025 |
Promoters And Management:
Financials of Apollo Techno Industries Limited IPO:
| Particulars | 3M FY2025-26 | FY 2024-25 | FY 2023-2024 | FY 2022-2023 |
| Revenue from Operations (Cr) | 24.54 | 99.14 | 68.97 | 71.72 |
| EBITDA (Cr) | 2.06 | 18.15 | 7.65 | 2.96 |
| EBITDA Margins | 8.42% | 18.31% | 11.09% | 4.13% |
| PAT (Cr) | 1.08 | 13.78 | 3.23 | 0.89 |
| PAT Margins | 4.38% | 13.84% | 4.66% | 1.24% |
| ROCE | 3.30% | 31% | 12.29% | 3.76% |
| D/E ratio | 1.16 | 1.25 | 3.74 | 5.36 |
| Operating Cash Flows (Cr) | 2.44 | 14.46 | 2.8 | -0.96 |
Comparison With Peers:
| Companies | Revenue (in cr) | EBITDA Margins | PAT Margins | ROCE | D/E Ratio | MCap (in cr) | P/E |
| Apollo Techo Indutries Limited | 99.14 | 18.31% | 13.84% | 31% | 1.25 | 177.95 | 12.91 |
| Eimco Elecon (India) Limited | 246 | 23% | 20% | 16.00% | - | 897 | 22 |
| Note : Forward P/E 41.19 is According to FY26 PAT | |||||||
Lead Manager of Apollo Techno Industries Limited IPO:
Registrar of Apollo Techno Industries Limited IPO:
Discussion on Apollo Techno Industries Limited IPO:
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