C2C Advanced Systems Limited IPO

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C2C Advanced Systems is dedicated to positioning India as a global leader in cutting-edge technology systems for the defence, security, and aerospace sectors. By fostering partnerships with global players, they aim to accelerate innovation and develop world-class solutions.

Proven Capabilities
With over two decades of expertise and investments by their promoters and key personnel, they have achieved global recognition, including the successful execution of the Combat Management System (CMS) for the Royal Malaysian Navy. This accomplishment demonstrates their ability to compete with established international players, marking a milestone in India’s technological advancements.

Military System Retrofits and Upgrades
They specialize in re-engineering and upgrading legacy military systems, bringing them up to modern warfare standards. Their unique position as a domain-agnostic technology company focused on “Intelligent Platforms” gives them a competitive edge in this niche sector.

Technological Expertise

Their core expertise lies in:
i. Architecture design, data acquisition, and data analytics
ii. Artificial Intelligence (AI) and Machine Learning (ML) applications
The stringent requirements of military projects enable them to create innovative solutions with the highest performance standards, which also have dual-use applications in civilian sectors.

Expansion into Digital Transformation
They are expanding into digital transformation, focusing on sensor-based solutions for Industry 4.0 and transportation. Their expertise supports next-generation technologies that enhance efficiency and performance.

Conclusion

C2C Advanced Systems is at the forefront of innovation, combining advanced technology with a strategic vision. Their focus on defence, security, aerospace, and digital transformation underscores their commitment to delivering cutting-edge solutions for both military and civilian applications.

 

Objects of the C2C Advanced Systems Limited IPO:

The company intends to utilize the proceeds of the net issue in the following manner: i. Funding of capital expenditure towards the purchase of fixed assets (both hardware and software) for its existing operations (the upgradation of the existing Experience Centre and set up of Training Centre at Bengaluru) and the proposed set up of Experience Centre at Dubai. ii. Towards fit-outs at the new premises at both Bengaluru and Dubai. iii. Payment of Security Deposit for the new premises at Bengaluru, Karnataka, India. iv. To fund the working capital requirements of the Company. v. To fund expenditure towards general corporate purposes.
DRHP of C2C Advanced Systems Limited IPO
RHP of C2C Advanced Systems Limited IPO

C2C Advanced Systems Limited IPO Details:

Open Date: Nov 22 2024
Close Date: Nov 26 2024
Total Shares: 4,383,600
Face Value: ₹ 10 Per Equity Share
Issue Size: 99.07 Cr.
Lot Size: 600 Shares
Issue Price: ₹ 214 - 226 Per Equity Share
Listing At: NSE Emerge
Listing Date: Dec 03 2024

Promoters And Management:

Ms. Lakshmi Chandra, Managing Director of the company, holds a Bachelor's degree in Social Sciences from Madras University and an MBA from Rutgers University, New Jersey. With 18 years of experience as a technology licensing specialist and 10 years in digital design, she brings extensive expertise to her role. Commander Kuriyedath Ramesh (Retd), Whole-Time Director and Chief Technology Officer of the company, served in the Indian Navy from 1986 to 2011, earning numerous accolades. A B.Tech graduate from INS Shivaji, he also completed an Executive Management Course at IIM Bangalore. As an Electrical Officer, he managed power and weapon systems on Naval ships, gaining expertise in system design, architecture, electronic systems, and cybersecurity. Post-retirement, he contributed to the development of advanced military technology platforms, which were integrated into C2C Advanced Systems. His extensive knowledge spans system architecture, real-time processing, and embedded systems. Murtaza Ali Soomar, a commerce graduate with nearly two decades of entrepreneurial experience, has played a pivotal role in transforming a small family business into a specialized medium-scale enterprise. As the Chief Financial Officer, he provides strategic direction, driving expansion and innovation to meet the needs of a discerning clientele.

Financials of C2C Advanced Systems Limited IPO:

In Cr.
Particulars For 6MFY25 FY 2023-24 FY 2022-23 FY 2021-22
Revenue 43.22 41.05 8.04 0.34
EBITDA 13.69 18.32 3.84 -2.08
EBITDA Margin 31.68% 44.62% 47.76% -611.76%
PAT 9.72 12.39 2.87 -2.38
PAT Margins 22.48% 30.18% 35.69% -700%
CFOA -26.77 -35.27 -4.81 -4.15

Comparison With Peers:

Companies Revenue EBITDA PAT D/E Ratio MCap P/E
C2C Advanced Systems Limited  (FY 2024) 41.05 Cr. 18.32 Cr. (44.62%) 12.39 Cr. (30.18%) 0.15 376 Cr. *30.35
Paras Defence and Space Technologies Limited (TTM) 315 Cr. 72 Cr. 42 Cr. 0.15 3,937 Cr. 93.10
* If the company earns profits in the second half of the year in the same proportion as it did in the first half of FY 2025 then forward PE will be 19.34

Recommendation on C2C Advanced Systems Limited IPO:

Review and Recommendation of C2C Advanced Systems by team IZ is 5/10.
 

Lead Manager of C2C Advanced Systems Limited IPO:

  1. Beeline Broking Limited
  2. Mark Corporate Advisors Private Limited

Registrar of C2C Advanced Systems Limited IPO:

  1. Link Intime India Private Limited

Company Address:

C2C Advanced Systems Limited No.86, Wings of Eagles, SS Commercial Estate, Varthur Road, Nagavarapalya Main Road, C V Raman Nagar, Bengaluru � 560093 Phone: +91 80 4372 4052 Email: compliance@c2c-as.com Website: http://www.c2c-as.com/

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