Falcon Technoprojects India Limited IPO

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Falcon Technoprojects India Limited, initially founded as a Sole Proprietorship by Mr. Bharat Shreekishan Parihar in 2010, began its journey in the Mechanical, Electrical, and Plumbing (MEP) consulting and contracting business. Over the years, the operations expanded significantly. In 2014, with a vision to provide comprehensive project solutions under one roof, Mr. Parihar founded and incorporated “Falcon Technoprojects India Private Limited.”

In 2023, following a Special Resolution by the Shareholders during the Extra-Ordinary General Meeting on May 29, the company transitioned from a Private Limited Company to a Public Limited Company. Consequently, the company was renamed “Falcon Technoprojects India Limited,” with a new Certificate of Incorporation issued on June 30, 2023, by the Registrar of Companies, Mumbai, Maharashtra.

Core Business and Services

MEP Services
Falcon Technoprojects India Limited is an ISO 9001:2015 certified company, providing Mechanical, Electrical, and Plumbing (MEP) services across India. The company’s clientele spans various sectors, including Petroleum Refineries, Residential Townships, Atomic Energy, and Civil Construction.

Scope of MEP Services
MEP services encompass the design, selection, and installation of integrated systems to create comfortable and efficient building environments. These services include:
i. Mechanical Systems: Installation of air-conditioning systems.
ii. Electrical Systems: Power and lighting systems.
iii. Plumbing Systems: Water supply and drainage systems.
iv. Fire Prevention and Fighting Systems.
v. Telecommunication Systems.

The integration of these systems enhances energy efficiency and operational effectiveness. The meticulous design and selection process ensures accurate documentation, performance and cost estimation, construction efficiency, and optimal facility operation and maintenance.

Conclusion

Falcon Technoprojects India Limited has established itself as a reputable provider of comprehensive MEP services across various sectors in India. With strong leadership and a commitment to quality, the company continues to grow and adapt to the evolving needs of its clients, ensuring sustainable and efficient solutions for building projects nationwide.

Objects of the Falcon Technoprojects India Limited IPO:

The company proposes to utilize the funds that are being raised through this Issue: i. Working Capital Requirements of the company; and ii. General Corporate Purposes.
DRHP of Falcon Technoprojects India Limited IPO
RHP of Falcon Technoprojects India Limited IPO

Falcon Technoprojects India Limited IPO Details:

Open Date: Jun 19 2024
Close Date: Jun 21 2024
Total Shares: 1,488,000
Face Value: ₹ 10 Per Equity Share
Issue Size: 13.69 Cr.
Lot Size: 1200 Shares
Issue Price: ₹ 92 Per Equity Share
Listing At: NSE Emerge
Listing Date: Jun 26 2024

Promoters And Management:

Mr. Bharat Shreekishan Parihar is a Promoter & Managing Director of the Company. He has completed graduation in the field of Electrical Engineering and has an experience of more than 16 years in the MEP sector. He has a wide role which involves Tender and Purchase negotiations, coordination and deployment of resources, organizing the tasks at various levels, Operations management, leading and monitoring the team with high motivation, finance and cash flow management. Mrs. Sheetal Bharat Parihar is a Promoter & Non-Executive Director of the Company. She has completed her Bachelor of Commerce (B.Com) from Jai Narain Vyas University, Jodhpur. She has been overlooking the recruitment process, employee retention and administration of the Company and has 9 years of Experience. She has been instrumental in mentoring and guiding the Company for the overall business development. She overviews the tendering process of the Company which includes bidding for acquisition of projects. She also guides the team for other marketing activities for the Company. Mrs. Priyanka K Gola is an Independent Director of the Company. She is a qualified Company Secretary from The Institute of Company Secretaries of India and is also holds a Bachelor degree in Law (LLB). She further has a Bachelor’s Degree in Commerce from Saurashtra University. She is also the founder of Corporate Law firm, NP & Associates, Corporate Law Consultants, Rajkot. She has more than 8 years of work experience in diversified areas including Corporate Laws, Corporate Governance, Tax, IT’s amongst other services across various industries.

Financials of Falcon Technoprojects India Limited IPO:

Particulars ( In Lakhs )
2021
2022
2023
10M-FY24
Revenue from Operations 943 2,286 1,654 1,034
Other Income 3 4 3 3
Total Revenue 946 2,290 1,657 1,037
Cost of Material Consumed 564 1,706 1,205 588
Employees Benefit Expenses 68 108 131 133
Other Expenses 209 256 79 120
EBITDA 105 220 242 195
OPM (%) 11.11% 9.61% 14.60% 18.84%
Depreciation & Amortisation 7 5 3 1
EBIT 98 215 239 194
Finance Cost 57 76 99 69
PBT 41 139 140 125
Tax -12 -36 -36 -38
PAT 30 103 104 87
NPM (%) 3.13% 4.49% 6.27% 8.39%
No.of Shares 53.56 53.56 53.56 53.56
EPS 0.55 1.91 1.93 1.62

Comparison With Peers:

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

Recommendation on Falcon Technoprojects India Limited IPO:

Review and Recommendation of Falcon Technoprojects India by team IZ is 4/10. 1. Falcon Technoprojects India Limited specializes in offering MEP services across various sectors, including petroleum refineries, residential townships, atomic energy, and civil construction. The company is ISO 9001:2015 certified, ensuring high standards of quality and efficiency in its operations. 2. Mechanical Services :-  Falcon provides a wide range of mechanical services, including: i. Firefighting Solutions: Fire hydrant and wet riser systems, sprinkler systems, water spray systems, and gas-based suppression systems like CO2 systems, adhering to NBC, TAC, and NFPA standards. ii. HVAC Solutions: Heating, ventilation, and air conditioning systems, including elevators and escalators, tailored to client requirements. Services cover design, supply, installation, maintenance, and service of air conditioning and ventilation solutions for commercial, industrial, and domestic environments. 3. Electrical Services :- The company undertakes turnkey electrical projects, offering services such as: i. Power generation and distribution. ii. Installation of lighting fixtures, fans, and air conditioning systems. iii. Integration of IT and AV systems. iv. Energy management and architectural lighting plan design. 4. Plumbing Services :- Falcon's plumbing services include: i. Installation of sanitary fixtures and fittings. ii. Internal and external drainage systems. iii. Rainwater disposal and harvesting systems. iv. Water supply systems and plant utilities, conforming to LEED and IGBC norms. 5. Clientele Falcon Technoprojects India Limited boasts an impressive list of marquee clients, including: i. Mumbai International Airport                                             ii. Larsen & Toubro (L&T) iii. Bharat Petroleum Corporation Limited (BPCL)             iv. Lodha Developers v. Hindustan Petroleum Corporation Limited (HPCL)       vi. Reliance Industries Limited vii. Shapoorji Pallonji Group 6. Competition The MEP services industry in India is highly competitive, with numerous organized and unorganized players. Despite this, Falcon’s strong brand image and proven track record of maintaining cordial relationships in the market provide a significant competitive advantage, enabling the company to access diverse geographies. 7. The Revenue has Increased from Rs.9 Crores in FY21 to Rs.16 Crores in FY23. 8. The EBITDA has Increased from 1 Crore in FY21 to 2 Crores in FY23. 9. The PAT has Increased from 30 Lakhs in FY21 to 1 Crore in FY23. 10. As per FY23, CFO/EBITDA is 0.98, As per FY24, EPS is 1.94, 11. Market Capitalization is 49 Crores & P/E is 47.21x based on FY24.

Lead Manager of Falcon Technoprojects India Limited IPO:

  1. Kunvarji Finstock Pvt Ltd.

Registrar of Falcon Technoprojects India Limited IPO:

  1. Kfin Technology Private Limited

Company Address:

Falcon Technoprojects India Limited Unit No. 17/18, 1st Floor, Keshav Building, Vasudev Sky High Complex, Beverly Park, Mira Road East - 401107 Phone: +91 22 3512 9249 Email: cs@falcontechnoprojects.com Website: http://www.falcongroupindia.com/

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