ATC Energies System Limited IPO

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The company is a leading manufacturer and supplier of lithium-ion batteries, offering efficient, reliable, and cost-effective energy storage solutions through a fully integrated, end-to-end manufacturing ecosystem. Their vertically integrated production model enables them to cater to diverse industrial and consumer applications across banking, electric vehicles, industrial automation, and other emerging sectors.

They specialize in manufacturing a broad range of customized and standardized lithium-ion batteries, designed to meet the evolving energy needs of various industries.

Product Evolution & Portfolio

They commenced operations with the manufacturing of mini-sized lithium-ion batteries (≤100Wh), primarily catering to the Banking sector for POS and ATM machine applications. Over time, they have expanded their product portfolio to include:
i. Mini Batteries (≤100 Wh)                                          ii. Small Batteries (101–750 Wh)
iii. Medium Batteries (751–2,000 Wh)                      iv. Large Batteries (>2,000 Wh)

Their products are engineered to meet a broad spectrum of end-use applications, spanning multiple sectors such as electric mobility, industrial automation, banking equipment, and renewable energy systems.

Conclusion

The company is committed to delivering high-performance lithium-ion energy solutions that drive innovation, sustainability, and operational efficiency for their customers. With state-of-the-art manufacturing infrastructure, a diversified product range, and a focus on continuous R&D and engineering excellence, they aim to play a key role in India’s transition to green energy and advanced energy storage ecosystems.

Objects of the ATC Energies System Limited IPO:

The Company ATC Energies IPO proposes to utilise the Net Proceeds from the Issue towards the following objects: i. Repayment and/or pre-payment, in full, the borrowing availed by the Company with respect to purchase of the Noida factory. ii. Funding the capital expenditure requirements towards refurbishment, civil and upgradation works at the Noida factory. iii. Funding the capital expenditure requirement towards IT upgradation at the Noida factory and Vasai factory and the registered office. iv. Funding working capital requirements of the Company. v. General Corporate Purposes. Total number of share issue :- i. Fresh issue is 43,23,600 shares, ii. Offer for sale is 10,80,000 shares.
DRHP of ATC Energies System Limited IPO
RHP of ATC Energies System Limited IPO

ATC Energies System Limited IPO Details:

Open Date: Mar 25 2025
Close Date: Mar 27 2025
Total Shares: 54,03,600
Face Value: ₹ 10 Per Equity Share
Issue Size: 63.76 Cr.
Lot Size: 1200 Shares
Issue Price: ₹ 112 - 118 Per Equity Share
Listing At: NSE Emerge
Listing Date: Apr 01 2025

Promoters And Management:

Sandeep Gangabishan Bajoria, Chairman, Managing Director, and Promoter of the Company, has been associated with the Company since its inception. A Commerce graduate from the University of Bombay (1995), he leads business strategy and marketing. With over 25 years of entrepreneurial experience, he brings deep market insight and has served a wide range of reputed organizations. Piyush Vijaykumar Kedia is the Executive Director and Chief Financial Officer of the Company. He is a Commerce graduate from the University of Bombay (1995), and a qualified Chartered Accountant and Cost & Works Accountant (1997). With over 20 years of experience in finance, he has held key roles in reputed organizations across financial services, broking, and consulting. He has also worked as a freelance advisor, offering strategic financial guidance. His expertise will play a vital role in driving the Company’s financial planning and risk management. Nilesh Victor Correia is the Non-Executive Director of the Company. He holds a Bachelor’s Degree in Science from the University of Bombay (1995) and a Master’s in Marketing Management from the University of Mumbai (2008). With over 15 years of experience in finance, he has held leadership roles at ICICI Bank, Bill Desk, India Transact Services, and Mindgate Solutions, among others, contributing extensively to product development and functional sales.

Financials of ATC Energies System Limited IPO:

In Cr.
Particulars Sep 30, 2024 March 31, 2024 March 31, 2023 March 31, 2022
Revenue from Operations 22 51 33 36
EBITDA 8 15 11 15
EBITDA Margin 36.36% 29.61% 34.67% 41.92%
PAT 6 11 8 12
PAT Margin 25.57% 21.14% 23.34% 32.48%
ROE 16.04% 39.38% 42.31% 139.18%
ROCE 16.11% 42.66% 42.91% 103.13%
CFOA -1 3 3 1
D/E Ratio 0.62 0.31 0.47 0.81

Comparison With Peers:

Companies Revenue EBITDA Margins PAT Margins D/E Ratio MCap P/E
ATC Energies System (FY 2024) 51 29.61% 21.14% 0.31 241 22.1
Eveready Industries India (TTM) 1,326 11% 6.03% 0.65 2,217 27.7
High Energy Batteries India (TTM) 65 16% 15.38% 0.08 438 43.6
*Forward PE is 20.84 on the basis of FY 25 PAT.

Recommendation on ATC Energies System Limited IPO:

Review and Recommendation of ATC Energies System IPO by team IZ is 4/10.

Lead Manager of ATC Energies System Limited IPO:

  1. Indorient Financial Services

Registrar of ATC Energies System Limited IPO:

  1. Kfin Technology Private Limited

Company Address:

ATC Energies System Limited Unit No. 3, Plot No. 33, New India Industrial Estate, Mahal IN AR, Off MC Rd., Andheri East, Mumbai 400093 Phone: +91 7208878270 Email: cs@atcgroup.co Website: http://www.atcgroup.co/

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