i. Sunil Menon, aged 55 years is the founding Promoter of the company and was appointed on the Board of the Company since incorporation. He was re-designated as the Managing Director w.e.f. September 30, 2022. He has completed his Diploma in Hotel Management, Catering and Nutrition from Board of Technical Education Delhi. He has more than 30 years’ experience in Businesses like defence and in engineering company. He has taken the company from being a small components manufacturer to a strong company whose product and services portfolio includes Turnkey Projects, Integrating various platform systems. The company today has a strong product portfolio and a loyal customer base and he has contributed substantially in growth of business of company and has been a guiding force behind the growth and business strategy of the Company. ii. Gautam Makkar, aged 53 years is the founding Promoter of the company and was appointed on the Board of the Company since incorporation. He was re-designation as Chairmen and Non Executive Director w.e.f. September 30, 2022. He has completed his Bachelor of Electrical Engineering from Poona University in the year 1991. He has more than 25 years of experience in the fields of sourcing and providing solutions to defence, power and marine industry. As a Non Executive Director of the Company, he is responsible for providing his expertise for growth and expansion of the Company. iii. Priyanka Moondra Rathi, aged 30 years is a Non Executive Independent Director of the Company. She was appointed on the Board of the Company w.e.f. September 02, 2022. She has completed Bachelors of Commerce degree from Jai Narayan Vyas University in the year 2013 and completed Diploma in MBA in Finance from International Business Management Institute, Berlin, Germany in the year 2015. She is also a member of Institute of Company secretaries of India since 2017 and is currently pursuing Certified Public Accountants course.

A. Balance Sheet

Particular (In Lakhs)	Mar-20	Mar-21	Mar-22	Mar-23
Equity Share Capital	71.37	71.37	71.37	1,427.41
Reserves	608	632	1412	1032
Borrowings	1433	2261	1659	3591
Trade Payables	868	604	1961	1986
Other Liabilities	1325	664	490	1042
Total Liabilities	3626	3529	4110	6619
Net Block	1011	904	813	2220
Other Assets	0	5	6	5
Total NC Assets	1011	909	818	2225
Receivables	357	660	1314	2781
Inventory	1830	2005	2083	3452
Cash & Bank	281	202	405	216
Other Assets	830	456	972	880
Face value	10	10	10	10

B. Profit & Loss Statement

Particular (In Lakhs)	Mar-20	Mar-21	Mar-22	Mar-23
Sales	3,178	1,452	4,699	6,770
Raw Material Cost	2,461	1,037	3,277	4,728
Prior period expenses	5	0	0	17
Employee Cost	128	101	97	211
Other Expenses	85	36	79	184
Other Income	19	29	14	11
Depreciation	129	108	91	117
Interest	209	173	125	242
Profit before tax	180	26	1,044	1,281
Tax	47	1	264	324
Net profit	133	25	780	957

C. Cash Flow Statement

Particular (In Lakhs)	Mar-20	Mar-21	Mar-22	Mar-23
Cash From Operating Activity	1,967	-742	920	-216
Cash from Investing Activity	14	8	10	-1,245
Cash from Financing Activity	-1,902	655	-727	1,137
Net Cash Flow	80	-79	203	-324

 

Name of the Company	Revenue (Cr)	Profit (Cr)	EPS	P/E	CMP	MCap (Cr)
CFF Fluid Control Limited	68	10	4.92	33.56	165	321
Data Patterns (India) Limited	453	124	22.15	74.90	1,659	9,287
MTAR Technologies Limited	573	104	33.84	55.7	1,886	5,802
Paras Defence and Space Technologies Limited	214	36	9.21	54.3	500	1,949
Bharat Electronics Ltd	17,734	2,986	4.08	27.3	112	81,614

*All the data is as per FY23.

Review and Recommendation of CFF Fluid SME IPO by IZ team is 4/10 1. Company specialises in manufacturing and servicing shipboard machinery, critical component systems, and test facilities for submarines and surface ships for the Indian Navy. 2. They design, manufacture, and service mechanical equipment and systems for industries like nuclear and clean energy. Incorporated to meet the requirements of the Indian Navy and Mazagaon Dockyard and Shipbuilders Limited (MDL) for the Scorpene submarine program. 3. Signed Transfer of Technology (TOT) agreement with Coyard SAS France for design, manufacture, and supply of mechanical components for the Scorpene submarine program. Facilities located in Khopoli and approved by the Indian Navy, MDL, and Naval Group (France). ISO 9001:2015 certified for quality management systems. 4. Completed orders worth Rs. 18,678.79 lakhs from the Indian Navy with a robust order book of Rs. 9,004.00 lakhs, over 90% from Indian Navy. 5. Worked on projects like SSK Class Submarine, Kalveri Class Submarine, and Kilo Class Submarine. Employ 33 on-payroll employees, also hire industry professionals on a project-specific basis. 6. Competitive strengths: experienced promoters and management team, visible growth with robust order book, strong financial performance, technical capabilities, and strategic partnerships. 7. Strategies: expand business, maintain well-funded balance sheet, build professional organisation with qualified personnel, focus on innovation, technological advancements, and cost improvements. 8. The Revenue has Increased from Rs.31.7 Crore in FY20 to Rs.67.7 Crore in FY23. 9. The EBITDA has Increased from 5.17 Crore in FY20 to 16.4 Crore in FY23. 10. The PAT has Increased from 1.3 Crore in FY20 to 9.5 Crore in FY23. 11. As per FY23, CFO/EBITDA is 0.99 and Debtors Days is 150. 12. As per FY23, EPS is 4.92, Market Capitalization is 321.3 Crore & P/E is 33.56X .

CFF Fluid Control Limited Plot No 01, Survey No 96, Kumbhivli Madap Khopoli, Khalapur, Raigarh-410203 Phone: +91-2246086806 Email: compliance@cffdefensys.com Website: http://www.cffdefensys.com/