Aprameya Engineering Limited IPO

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The company specializes in the installation, setup, and maintenance of Intensive Care Units (ICU), Neonatal Intensive Care Units (NICU), Pediatric Intensive Care Units (PICU), Operation Theatres, and prefabricated structure wards (collectively referred to as “Healthcare Infrastructure projects”). They operate on a turnkey basis, supplying high-value healthcare and diagnostic equipment to both private and government hospitals and medical practitioners.

Products and Services

Their offerings can be categorized into two main segments:
1. Healthcare Infrastructure Setup:
i. Installation of ICU, NICU, PICU, and modular operation theatres.
ii. Prefabricated structure wards for hospitals and medical care centers.

2. High-Value Medical Equipment:
i. Patient monitoring systems.                              ii. Cardiology devices.
iii. Respiratory management systems.                iv. Radiology/imaging systems.

They supply these medical equipment solutions as a dealer for renowned manufacturers such as Johnson & Johnson Private Limited and Stryker India Private Limited, among others. Their commitment to timely delivery and cost-effective solutions has helped them build strong relationships with a diverse customer base, including private and government hospitals, medical colleges (notably AIIMS), and diagnostic service providers across the country.

Conclusion

Their commitment to delivering high-quality healthcare infrastructure and medical equipment has positioned them as a trusted partner in the healthcare sector. With their comprehensive solutions and a strong track record of project delivery, they continue to strive towards improving healthcare accessibility and cost-effectiveness for hospitals and medical practitioners across India.

Objects of the Aprameya Engineering Limited IPO:

The company intend to utilize the proceeds of the Issue to meet the following objects:- i. To meet incremental working capital requirements (including augmentation on Long Term Working Capital) ii. General corporate purpose
DRHP of Aprameya Engineering Limited IPO
RHP of Aprameya Engineering Limited IPO

Aprameya Engineering Limited IPO Details:

Open Date: Jul 25 2024
Close Date: Jul 29 2024
Total Shares: 5,040,000
Face Value: ₹ 10 Per Equity Share
Issue Size: 29.23 Cr.
Lot Size: 2000 Shares
Issue Price: ₹ 56 - 58 Per Equity Share
Listing At: NSE Emerge
Listing Date: Aug 01 2024

Promoters And Management:

Saurabh Kishorbhai Bhatt is the Chairman and Joint Managing Director of the Company. He is also one of the Promoters of the Company and has been associated with the Company since its incorporation. He holds a Bachelor’s degree in electronics (industrial electronics) from Amravati University. He is having experience of over 19 years in the field of medical and healthcare equipment industry, including as one of the partners of the erstwhile partnership firm under the name ‘M/s. Aprameya Engineering’ (now converted into the Company) and is responsible for the overall management, project handling and tender bidding process of the Company. Chetan Mohan Joshi is the Managing Director of the Company. He is also one of the Promoters of the Company and has been associated with the Company since its incorporation. He has completed a Bachelor’s in engineering (Second Year) in industrial electronics from Amravati University and Diploma in Electrical engineering from the Board of Technical Examinations, Maharashtra State. He has a work experience of over 19 years in the field of medical and healthcare equipment industry, including as one of the partners of the erstwhile partnership firm under the name ‘M/s. Aprameya Engineering’ (now converted into the Company) and is responsible for the overall management, finance and internal controls systems of the Company. Archana Chetan Joshi is the Non-Executive Director of the Company. She has been on the Board since 2022. She has completed her Bachelor’s of Science (Second Year) from Lokmanya Tilak Mahavidyalaya, Wani. She has an experience of over 11 years in the business of dealing in medical equipment’s.

Financials of Aprameya Engineering Limited IPO:

Particulars ( In Lakhs )
2022
2023
2024
Revenue from Operations 19,999 7,812 6,516
Other Income 27 21 46
Total Revenue 20,026 7,833 6,562
Purchase of Stock in Trade 6,805 809 1,228
Turnkey project expenses 8,992 4,842 3,302
Change in inventories -391 -44 449
Employees Benefit Expenses 302 258 271
Other Expenses 1,804 1,004 630
EBITDA 2,514 965 682
OPM (%) 12.55% 12.32% 10.39%
Depreciation & Amortisation 9 10 11
EBIT 2,505 956 671
Finance Cost 92 208 211
PBT 2413 748 460
Tax 751 211 114
PAT 1662 537 346
NPM (%) 8.30% 6.85% 5.27%
No.of Shares 190.4 190.4 190.4
EPS 8.72 2.81 1.81

Comparison With Peers:

Note :- There are no listed companies in India that engage in a business similar to this Company.

Recommendation on Aprameya Engineering Limited IPO:

Review and Recommendation of Aprameya Engineering by team IZ is 3/10. 1. Aprameya Engineering Limited is a dedicated provider of healthcare infrastructure projects and high-value medical equipment. They have evolved into a key player in the installation, setup, and maintenance of Intensive Care Units (ICU), Neonatal Intensive Care Units (NICU), Pediatric Intensive Care Units (PICU), Operation Theatres, dialysis centers, and prefabricated structure wards for hospitals and medical care centers. Their turnkey solutions ensure that they cater comprehensively to the needs of private hospitals, government hospitals, and medical practitioners. 2. Services and Solutions They offer a broad range of services and products, including: i. Healthcare Infrastructure Projects                            ii. Medical Equipment Supply iii. Consumables and Equipment Trading                   iv. Equipment Maintenance 3. Product and Service Portfolio Their product and service portfolio is divided into two main segments: i. Healthcare Infrastructure Setup                               ii. Medical Equipment Supply 4. Competition The medical devices industry is highly competitive, with competition varying across different markets, geographical areas, and product types. Their primary competitors include both domestic and international players who compete based on product quality, technology, cost, delivery, service, and the quality and depth of senior-level relationships. 5. The Revenue has Decreased from Rs.200 Crores in FY22 to Rs.65 Crores in FY24. 6. The EBITDA has Decreased from 25 Crores in FY22 to 7 Crores in FY24. 7. The PAT has Decreased from 16 Crores in FY22 to 3.4 Crores in FY24. 8. As per FY24, CFO/EBITDA is 0.99, and EPS is 1.81, 9. Market Capitalization is 110 Crores and P/E is 31.9x based on FY24.

Lead Manager of Aprameya Engineering Limited IPO:

  1. Hem Securities Limited

Registrar of Aprameya Engineering Limited IPO:

  1. Link Intime India Private Limited

Company Address:

Aprameya Engineering Limited 908, 9th Floor, Venus Atlantis Corporate Park Anandnagar, Prahladnagar, Ahmedabad-380015 Phone: + 079-40068827 Email: cs@aelhealth.com Website: https://www.aelhealth.com/

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