Cryogenic OGS Limited IPO

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Core Business Activities

Cryogenic OGS Limited is a precision engineering company engaged in:

a) Design, fabrication, and supply of metering and filtration equipment for Oil & Gas, Chemical and Allied fluid industries,

b) Key Products Include Basket Strainers, Air and Vapor Eliminators, Prover Tanks, Additive Dosing Skids and Injection Panels, Truck & Tank Wagon Loading Skids (liquid & gas), Optical Air Eliminators and Strainer cum Air Eliminators.

The company serves PSUs and private sector clients, with products tailored for safety, accuracy, and reliability.

Manufacturing Facility

Cryogenic OGS Limited operates a fully integrated manufacturing facility spread over 8,300 sq. meters in Vadodara, Gujarat. The facility is equipped for end-to-end fabrication, assembly, testing, and quality inspection. With in-house design capabilities using Auto-CAD ELD and other specialized tools, the company ensures precision engineering, efficient production, and stringent quality control across all product lines.

Competitive Strengths

i) Strong Product Technology:Custom-built, high-precision equipment meeting global safety standards
ii) Experienced Management & Workforce: Leadership with decades of domain experience
iii) Quality Assurance:Third-party inspections, rigorous testing protocols, and international standard adherence,
iv) Established Supplier Network: Ensures timely procurement and delivery
v) Stable Customer Base:Long-standing relationships with major oil and gas PSUs (e.g., IOCL, BPCL, HPCL).

Future Outlook

i) Turnkey Projects: Transitioning from partial to full-scope manufacturing for orders
ii) Working Capital Needs: Increased due to shift towards full-scale execution
iii) Growth Strategy: Innovation-led product development, Global expansion through strategic collaborations, Continued investment in compliance and certifications.

Objects of the Cryogenic OGS Limited IPO:

The Proceeds from the Fresh Issue will be utilized towards the following objects: 1. To Meet Working Capital Requirements (₹11.5 cr) 2. General Corporate Purposes
DRHP of Cryogenic OGS Limited IPO
RHP of Cryogenic OGS Limited IPO

Cryogenic OGS Limited IPO Details:

Open Date: Jul 03 2025
Close Date: Jul 07 2025
Total Shares: 37,80,000
Face Value: ₹ 10 Per Equity Share
Issue Type: Book Building
Issue Size: 17.77 Cr.
Lot Size: 3000 Shares
Issue Price: ₹ 44-47 Per Equity Share
Listing At: BSE SME

Promoters And Management:

1. Nilesh Natvarlal Patel – Chairman and Managing Director, aged 50, is the Promoter and Chairman cum Managing Director of the company. He holds a Bachelor's degree in Mechanical Engineering from The Maharaja Sayajirao University of Baroda, completed in 1995. With over 22 years of experience, he has expertise in the design and engineering of oil and gas metering equipment, as well as in project management and implementation. 2. Dhairya Patel – Whole-Time Director, aged 24, is the Promoter and Whole-time Director of the company. He earned his Bachelor of Technology in Petroleum Engineering from the School of Petroleum Technology, affiliated with Pandit Deendayal Energy University, in 2022. With over 3 years of experience in the company, he is currently involved in sales, marketing, and driving the company's overall development efforts. 3. Kiranben Nileshbhai Patel – Non-Executive Director, aged 47, is the Promoter and Non-Executive Director of the company. She has been associated with the company since 2001 in various roles. She holds a Bachelor of Science (Special) degree from South Gujarat University, completed in 1999. She brings over 13 years of experience in managing human resources and logistics operations.

Financials of Cryogenic OGS Limited IPO:

Particulars FY 2024-25 FY 2023-2024 FY 2022-2023
Revenue from Operations 32.9 24.25 22.02
EBITDA 7.96 6.38 5.64
EBITDA Margins 24.20% 26.33% 25.65%
PAT 6.12 5.34 4.07
PAT Margins 18.61% 22.04% 18.51%
ROCE 28.93% 29.06% 28.46%
Debt to Equity Ratio(In Times) - - -
Operating Cash Flows 1.93 1.52 1.83

Comparison With Peers:

Companies Revenue (in cr) EBITDA Margins PAT Margins D/E Ratio MCap (in cr) P/E
Cryogenic OGS Limited 32.9 24.20% 18.61% - 67.11 10.97
Loyal Equipments Limited 75 22% 14.20% 0.19 362 34

Lead Manager of Cryogenic OGS Limited IPO:

  1. Beeline Broking Limited

Registrar of Cryogenic OGS Limited IPO:

  1. MUFG Intime India Private Limited

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