Super Iron Foundry Limited IPO

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Super Iron Foundry Limited operates as an iron and steel foundry, specializing in casting and manufacturing products used in infrastructure, automotive, agriculture, and railway applications. The company primarily manufactures:

i. Municipal castings – Used in roadway construction for access covers, sewerage, telecom, and stormwater networks.
ii. Ductile iron pipe fittings – Essential components for water supply and sewage systems.
iii. Ductile iron automotive castings – Used in vehicle manufacturing.
iv. Ductile iron agricultural castings – Includes rollers and crosskills used in farming equipment.
v. Railway castings – Components required for railway networks.
vi. Cast-iron counterweights – Used in machinery and heavy industrial equipment for stability and weight balancing.

With compliance to international standards like EN124, the company has gained recognition for its high-quality products, making it a key supplier to large-scale infrastructure projects worldwide.

Export Markets and Global Presence

Super Iron Foundry Limited has a strong global presence, with exports primarily focused on Europe and the Middle East.

Business Expansion and Diversification
Super Iron Foundry Limited has expanded its product portfolio, now catering to water pipe networks, railways, counterweights, and agricultural industries. With continuous investment in automation, robotics, and advanced production techniques, the company is well-positioned for future growth.

The integration of robotics and automated systems has provided multiple benefits, including:
i. Enhanced efficiency and lower production costs.                   ii. Increased utilization rates and profitability.
iii. Greater precision and quality control.

Conclusion

Super Iron Foundry Limited has evolved into a technologically advanced manufacturing powerhouse, specializing in high-quality iron castings for critical infrastructure, transportation, and industrial applications. With a strategically located facility in West Bengal, a diversified product portfolio, and strong international market penetration, the company is well-positioned for sustained growth in both domestic and global markets.

Objects of the Super Iron Foundry Limited IPO:

The objects of the Offer are:- i. Funding of the working capital requirements of the Company; ii. Repayment/pre-payment, in full or in part, of certain borrowings availed by the Company; and iii. General corporate purposes.
DRHP of Super Iron Foundry Limited IPO
RHP of Super Iron Foundry Limited IPO

Super Iron Foundry Limited IPO Details:

Open Date: Mar 11 2025
Close Date: Mar 13 2025
Total Shares: 63,01,200
Face Value: ₹ 10 Per Equity Share
Issue Size: 68.05 Cr.
Lot Size: 1200 Shares
Issue Price: ₹ 108 Per Equity Share
Listing At: BSE SME
Listing Date: Mar 19 2025

Promoters And Management:

Akhilesh Saklecha, the Promoter, Chairman, and Managing Director, holds a bachelor's degree in business from Indiana University, USA. With 19 years of experience in manufacturing and exports, he has been with the company since 2005, contributing to project management, international sales, and new product development. He also serves as the MSME Sub Council Chair at ASSOCHAM (Eastern Region) and oversees the company’s overall management, operations, and business development. Abhishek Saklecha, the Promoter and Non-Executive Non-Independent Director, holds a bachelor's degree in commerce from the University of Calcutta. With 24 years of experience in manufacturing and exporting foundry products, he has been with the company since 2000. He has played a key role in project management, international sales, automation, and new product development. A member of the Jain International Trade Organization, he has served on the Board since December 26, 2000. Mohit Saluja, an Independent Director on the Board, holds a commerce degree from Ranchi University, a law degree from Fakir Mohan University, and is a fellow of the Institute of Company Secretaries of India. Currently, he serves as a Company Secretary at Manav Investment & Trading Company Limited (BK Birla Group) and has previously worked with Dalmia Securities and Fresh Aisle Retails. He joined the Board as an Independent Director on August 30, 2024.

Financials of Super Iron Foundry Limited IPO:

Particulars Dec 31, 2024 March 31, 2024 March 31, 2023 March 31, 2022
Revenue from Operations 87.19 154.82 124.80 132.15
EBITDA 16.03 15.70 10.81 10.12
EBITDA Margins 18.39% 10.14% 8.66% 7.66%
PAT 9.52 3.94 1.28 0.87
PAT Margins 10.91% 2.54% 1% 0.65%
D/E Ratio 1.57 2.09 2.28 2.44
CFOA -0.20 11.75 12.48 -26.08

Comparison With Peers:

Companies Revenue EBITDA Margins PAT Margins D/E Ratio MCap P/E
Super Iron Foundry (FY 2024) 154.82 Cr. 10.14% 2.54% 2.09 252.65 Cr. 64.12*
Bhagwati Autocast (TTM) 134 Cr. 9% 5.22% 0.28 109 Cr. 14.50
Universal Auto Foundry (TTM) 190 Cr. 8% 1% 0.58 82.40 Cr. 48.50
*Forward PE is 19.90 on the basis of FY 25 PAT.

Recommendation on Super Iron Foundry Limited IPO:

Review and Recommendation of Super Iron Foundry IPO by team IZ is 3/10.

Lead Manager of Super Iron Foundry Limited IPO:

  1. Horizon Financial Pvt Ltd

Registrar of Super Iron Foundry Limited IPO:

  1. Link Intime India Private Limited

Company Address:

Super Iron Foundry Limited Aspiration Vintage 12, Pretoria Street,1 st Floor, Suite 1B, Kolkata – 700071 Phone: + 91 334060305 Email: cs@superironfoundry.com Website: https://www.superironfoundry.com/

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