Airfloa Rail Technology Limited IPO
Airfloa Rail Technology Limited has been a trusted player in the railway, aerospace, and defence sectors for over two decades. The company specializes in manufacturing high-precision forged and machined components for rolling stock and defence applications, while also executing turnkey interior furnishing projects for Indian Railways and global OEMs.
Business Operations
– Manufactures rolling stock components for Indian Railways through units like Integral Coach Factory (ICF) and other coach factories.
– Executes turnkey interior furnishing projects for Indian Railways and metros.
– Serves international clients including Sri Lankan DEMU and Mainline Export Coaches, Agra-Kanpur Metro, RRTS Coach, Vistadome Coach, and Train-18 (Vande Bharat Express).
– Expanding into aerospace and defence, manufacturing highly engineered and critical components.
Manufacturing & Capabilities
Airfloa Rail Technology Limited runs two modern facilities in Chennai and Kancheepuram with ERP-driven operations, covering engineering, design, tooling, assembly, QA, and R&D. Backed by ISO-certified processes, the company ensures precision, safety, and quality in delivering reliable solutions for railways, aerospace, and defence.
Competitive Strengths
i) Comprehensive Solutions – From rolling stock components to turnkey furnishing projects.
ii) Diversified Industry Presence – Strong foothold in railways, aerospace, and defence.
iii) Turnkey Expertise – Ability to manage entire project lifecycles, including design, engineering, manufacturing, installation, and commissioning.
iv) Trusted Client Relationships – Repeated contracts from Indian Railways, PSUs, and global OEMs demonstrate long-term reliability.
v) Experienced Leadership – Promoters Mr. Venkatesan Dakshinamoorthy (CMD) and Mr. Manikandan Dakshinamoorthy (Joint MD) bring over 20 years of expertise in the railway OEM industry.
vi) Technical Advisory – Supported by Mr. Sudhanshu Mani, the visionary behind India’s Vande Bharat Express, as Technology Advisor.
Strategic Position
With proven operational excellence, advanced manufacturing facilities, and deep industry knowledge, Airfloa Rail Technology Limited is well-positioned to strengthen its presence in Indian and global markets. Its integrated solutions and long-term customer relationships establish it as a preferred partner in railways, aerospace, and defence sectors.
Objects of the Airfloa Rail Technology Limited IPO:
Airfloa Rail Technology Limited IPO Details:
Open Date: | Sep 11 2025 |
Close Date: | Sep 15 2025 |
Total Shares: | 65,07,000 |
Face Value: | ₹ 10 Per Equity Share |
Issue Type: | Book Building |
Issue Size: | 91.10 Cr. |
Lot Size: | 1000 Shares |
Issue Price: | ₹ 133-140 Per Equity Share |
Listing At: | BSE SME |
Listing Date: | Sep 18 2025 |
Promoters And Management:
Financials of Airfloa Rail Technology Limited IPO:
Particulars | FY 2024-25 Consolidated | FY 2023-2024 Standalone | FY 2022-2023 Standalone |
Revenue from Operations | 192.38 | 119.30 | 95.17 |
EBITDA | 47.4 | 34.57 | 14.68 |
EBITDA Margins | 24.61% | 28.14% | 15.40% |
PAT | 25.54 | 14.23 | 1.49 |
PAT Margins | 13.28% | 11.93% | 1.57% |
ROCE | 26.28% | 26.42% | 11.31% |
Debt to Equity Ratio(In Times) | 0.54 | 1.14 | 1.44 |
Operating Cash Flows | -4.44 | 3.46 | 10.07 |
Comparison With Peers:
Companies | Revenue (in cr) | EBITDA Margins | PAT Margins | ROCE | D/E Ratio | MCap (in cr) | P/E |
Airfloa Rail Technology Limited | 192.38 | 24.61% | 13.28% | 26.28% | 0.54 | 335.57 | 13.14 |
Jupiter Wagons Limited | 3871 | 14% | 9.63% | 21.50% | 0.14 | 13,571 | 42.8 |
Titagarh Rail Systems Ltd | 3868 | 11% | 7.10% | 16.60% | 0.25 | 11,799 | 49 |
Lead Manager of Airfloa Rail Technology Limited IPO:
Registrar of Airfloa Rail Technology Limited IPO:
Discussion on Airfloa Rail Technology Limited IPO:
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