TechEra Engineering Limited IPO

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TechEra Engineering (India) Limited, founded in October 2018, is a company that specializes in the design, manufacture, and supply of precision tooling, components, and automation systems for the aerospace and defense industries. The company has quickly established itself as a reliable provider of high-quality engineering solutions, leveraging advanced manufacturing techniques to meet the complex demands of these sectors.

Product Portfolio

TechEra Engineering offers a wide range of products and services, with a focus on precision and engineering excellence. Its portfolio includes:
i. Assembly Tooling: High-precision tools used in the assembly of aircraft and defense components.
ii. Jigs and Fixtures: Tools designed to hold parts in place or guide them during the manufacturing process, ensuring accuracy and efficiency.
iii. Maintenance, Repair, and Overhaul (MRO) Tooling: Specialized tools used in the maintenance and repair of aerospace and defense equipment.
iv. Ground Support Equipment (GSE): Equipment designed to support aircraft operations while on the ground.
v. Precision Machined Components: High-quality machined parts, produced using advanced manufacturing technologies for the aerospace and defense sectors.

Conclusion

TechEra Engineering (India) Limited is a rapidly growing player in the aerospace and defense industries. With a strong focus on precision engineering, advanced manufacturing technologies, and a commitment to quality, the company has quickly established itself as a key contributor to these sectors. Its participation in high-profile projects and adherence to international standards position TechEra as a leader in providing innovative and reliable engineering solutions. Through continuous improvement and technological innovation, the company is set to play a significant role in the advancement of the industries it serves.

Objects of the TechEra Engineering Limited IPO:

The company proposes to utilize the Net Proceeds for the following objects: i. Funding capital expenditure for the purchase of new machinery ii. Funding working capital requirements of the Company iii. Prepayment or repayment of a portion of certain outstanding borrowings availed by the Company iv. General corporate purposes v. Issue expenses.
DRHP of TechEra Engineering Limited IPO
RHP of TechEra Engineering Limited IPO

TechEra Engineering Limited IPO Details:

Open Date: Sep 25 2024
Close Date: Sep 27 2024
Total Shares: 4,377,600
Face Value: ₹ 10 Per Equity Share
Issue Size: 35.90 Cr.
Lot Size: 1600 Shares
Issue Price: ₹ 75 - 82 Per Equity Share
Listing At: NSE Emerge
Listing Date: Oct 03 2024

Promoters And Management:

Kalpana Nimesh Desai, 56, is a promoter and non-executive director in the company with over 9 years of industry experience. She holds a Diploma in Education and began her career as a school teacher. Later, she served as director at Jendamark Techcellency Automation for 5 years, focusing on HR policies. Since April 2023, she has been a non-executive director at TechEra Engineering, addressing the impact of company strategies on employees, stakeholders, and the environment. Her expertise is in HR policy and stakeholder balance. Manish Gupta, 52, is an Independent Director at the company with 25 years of experience in business coaching and consulting. He holds degrees in Sociology and Psychology and an Honorary Doctorate in Business Management. Manish is the founder of Chrysalis Business Solutions, specializing in business coaching and organizational turnarounds. He also leads self-leadership programs and delivers motivational talks, empowering both individuals and organizations. Haridas Nilkanth Bhabad, 49, is an Independent Director at the company with 25 years of experience, including 14 years in financial advisory. He holds a diploma in Electronics and Telecommunication Engineering and a postgraduate diploma in Management. After 10 years as a Maintenance Manager, he founded Capital Den Advisory LLP in 2005, assisting small businesses in securing funding. In 2020, he launched two more ventures: Infinity Thermotech Solutions LLP, offering heat treatment services, and Optiedge Tech Solutions LLP, focusing on app development and digital marketing. His expertise spans both technical and financial sectors.

Financials of TechEra Engineering Limited IPO:

Particulars FY24 Fy23 FY22
Revenue from operations 3,874.88 2,643.44 717.8
Cost of materials consumed 1,298.49 1,540.67 258.6
Changes in inventories 170.39 -223.19 78.98
Employee benefits expense 733.55 465.32 335.52
Finance cost 150.92 106.9 78.19
D&A 192.62 183.49 190.88
Other expenses 803.85 451.59 421.33
PAT 482.25 130.5 -628.7
IPO is coming at P/E of 28x. Looks in higher side. 

Comparison With Peers:

No peers to compare with.

Recommendation on TechEra Engineering Limited IPO:

Review And Recommendation of TechEra Engineering SME IPO by IZ team is 6/10

Lead Manager of TechEra Engineering Limited IPO:

  1. SKI Capital Services Limited

Registrar of TechEra Engineering Limited IPO:

  1. Kfin Technology Private Limited

Company Address:

TechEra Engineering LImited Gat No. 565, Behind Namo Marble & Timbers At Post Velu Tal. Bhor, Pune-412205 Phone: +91 8605016251 Email: cs@techera.co.in Website: https://techera.co.in/

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