Apex Ecotech Limited IPO

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Apex Ecotech Limited is an ISO 9001:2015-certified company, specializing in providing end-to-end solutions for water and wastewater treatment, recycling, and reuse. Guided by a team of seasoned engineering professionals, the company focuses on delivering sustainable and energy-efficient solutions tailored to diverse industrial applications.

Service Portfolio

Apex Ecotech Limited’s comprehensive service offerings include:
i. Raw Water Treatment Systems for industrial processes.
ii. Effluent and Sewage Treatment Plants (ETP/STP) to meet environmental norms.
iii. Sludge Dewatering Equipment for effective waste management.
iv. Membrane Systems for wastewater recycling, including ultrafiltration, nanofiltration, and reverse osmosis technologies.
v. Zero Liquid Discharge (ZLD) Systems, leveraging thermal and vapor compression-based evaporators and crystallizers.
vi. Operation and Maintenance (O&M) Services, ensuring sustained system performance.

The company’s solutions enable treated water to be reused for applications such as cooling towers, boiler feed, flushing, horticulture, and industrial processes.

Clientele and Achievements

Over the years, Apex Ecotech Limited has gained the trust of prominent domestic and international clients. Notable customers include Aditya Birla Group, Hero Motocorp, PepsiCo, Reckitt Benckiser, Haldiram, and Honda Cars & Scooters, among others. The company has successfully delivered ZLD systems with recovery rates exceeding 98%, demonstrating its commitment to water reuse and conservation.

Future Outlook

Given the challenges posed by urbanization, industrialization, resource scarcity, and global warming, Apex Ecotech Limited recognizes the critical importance of water conservation and recycling. With increasing regulatory oversight and government initiatives to address water management issues, the company is well-positioned to seize opportunities and contribute meaningfully to these efforts.

The company’s ethos is rooted in ethical growth, innovation, and fulfilling its role as a responsible corporate citizen in the realm of environmental sustainability.

Objects of the Apex Ecotech Limited IPO:

The Issue Proceeds from the Fresh Issue will be utilized towards the following objects: i. To meet Working Capital Requirements; ii. General corporate purposes; and iii. To meet Public Issue Expenses.
DRHP of Apex Ecotech Limited IPO
RHP of Apex Ecotech Limited IPO

Apex Ecotech Limited IPO Details:

Open Date: Nov 27 2024
Close Date: Nov 29 2024
Total Shares: 3,499,200
Face Value: ₹ 10 Per Equity Share
Issue Size: 25.54 Cr.
Lot Size: 1600 Shares
Issue Price: ₹ 71 - 73 Per Equity Share
Listing At: NSE Emerge
Listing Date: Dec 04 2024

Promoters And Management:

Anuj Dosajh, aged 60, is the Promoter and Chairman cum Managing Director of Apex Ecotech Limited. A founding member and Chemical Engineer with over 36 years of experience in water and wastewater projects, he previously worked at Thermax Limited (1988–94) and served as their dealer in Delhi/NCR until 2008. Since founding Apex Ecotech in 2009, he oversees procurement, project management, finance, and administration while supporting daily operations and driving continuous improvement and timely deliverance. Ramakrishnan Balasundaram Aiyer, aged 48, is the Promoter and Executive Director of Apex Ecotech Limited. A founding member with over 24 years of experience in water and wastewater treatment, he holds a Mechanical Engineering degree from Pune University (2000) and an MBA in Finance from Sikkim Manipal University (2012). Before founding Apex Ecotech in 2009, he worked at Thermax Ltd. (1994–2006) and ran his enterprise, ‘Pure & Pristine’ (2006–09), providing water treatment solutions. He is responsible for research, innovation, design, and project commissioning at the company. Ajay Raina, aged 43, is the Promoter and Executive Director of Apex Ecotech Limited. A founding member with over 21 years of experience in water and wastewater sales and marketing, he holds a Mechanical Engineering degree from Jamia Millia Islamia, Delhi (2006). Before starting Apex Ecotech in 2009, he worked with a Thermax Ltd. associate (2000–2007) and Pentair. Ajay oversees domestic and international sales, strategic business development, digital marketing, and web management, driving the company’s sustained growth through his technical expertise and client-focused approach.

Financials of Apex Ecotech Limited IPO:

(In Cr.)
Particulars 30 Sep 2024 FY 2023-24 FY 2022-23 FY 2021-22
Revenue 21.70 53.08 34.57 19.51
EBITDA 2.07 8.88 4.18 (0.43)
EBITDA Margin 9.53% 16.73% 12.09% (2.20%)
PAT 1.55 6.63 3.52 (0.65)
PAT Margins 7.14% 12.49% 10.18% (3.33%)
CFOA(OCF) (2.53) (0.85) 2.59 (0.07)

Comparison With Peers:

Companies Revenue EBITDA PAT D/E Ratio MCap P/E
Apex Ecotech Ltd.         (FY 2024) 53.08 Cr. 8.88 Cr (16.73%). 6.63 Cr. (12.49%) 0.03 96.25 Cr. 14.51 Cr.
ION Exchange Ltd. (TTM) 2,548 Cr. 295 Cr. (11.58%) 215 Cr. (8.43%) 0.20 9,318 Cr. 43.30
VA Tech Wabag Ltd. (TTM) 2,965 Cr.  387 Cr. (13.05%) 266 Cr. (8.97%) 0.22 10,440 Cr. 40.10

Recommendation on Apex Ecotech Limited IPO:

Review and Recommendation of Apex Ecotech Ltd. IPO by team IZ is 4/10.
 

Lead Manager of Apex Ecotech Limited IPO:

  1. Share India Capital Services Private Limited

Registrar of Apex Ecotech Limited IPO:

  1. Kfin Technology Private Limited

Company Address:

Apex Ecotech Limited Office No. 202, Garden Plaza, Five Gardens Road, Sunshine Villas, Rahatani, Pimpri Waghire, Pune -411017 Phone: +91-9999654360 Email: info@apexecotech.com Website: http://www.apexecotech.com/

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