| Annual Financials | Mar 2024 | Mar 2025 |
| Revenue | 153.98 | 180.07 |
| Expenses | 131.00 | 154.14 |
| Other Income | 1.44 | 2.29 |
| Total Revenue | 155.42 | 182.35 |
| Profit Before Tax | 24.42 | 28.21 |
| Net Profit | 17.39 | 21.10 |
Annu Projects
Annu Projects IPO
₹14,194
0.34 xOver-subscribedBidding Dates 25 Aug, 26 -28 Aug, 26
Min Investment ₹14,194
Lot Size151
Price Range ₹94 – ₹99
Issue Size ₹175.06 Cr.
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IPO Subscription Details
Retail Subscription Details
0.28 x
Non-Institutional Buyers (sHNI)
0.4 x
Non-Institutional Buyers (bHNI)
0.33 x
Qualified Institutional Buyers (QIB)
0.57 x
Total0.34 x
0.34 x IPO Timeline
IPO Offer Start
25 Aug,26
IPO Offer Ends
28 Aug,26
Allotment Finalisation
31 Aug,26
Refund Initiation
31 Aug,26
Listing of Shares
02 Sept,26
IPO Analysis
Strengths
The company has developed project execution proficiency over two decades with diversified revenue generation capabilities from telecom infrastructure, sewerage infrastructure and gas pipeline verticals. The company owns a fleet of more than 558 plant and machinery enabling efficient project execution while maintaining control over quality.
The company's growth is attributable to its business model of careful selection and execution of projects, facilitating optimum efficiency and improved profitability. The company has implemented project management skills for planning, monitoring, and execution which enhance resource optimization and cost control.
The company is one of the diversified companies in the EPC sector with an Order Book of ₹ 10,050.55 million as on June 30, 2026. The company had Order Book of ₹ 9,386.53 million, ₹ 4,796.73 million and ₹ 7,077.65 million during Fiscals 2026, 2025, and 2024 respectively with Book-to-Bill Ratio of 3.89 times, 2.66 times and 4.60 times.
Risks
The company derives more than 90% of its revenue from operations from telecom infrastructure and sewerage infrastructure verticals during Fiscals 2026, 2025 and 2024. Any slowdown in these sectors or decrease in demand could materially and adversely impact the company's business operations and financial performance.
The company derived 57.09%, 64.99% and 60.88% of revenue from government sector entities during Fiscals 2026, 2025 and 2024 respectively, based on competitive bidding. This exposes the company to risks inherent in government business including payment delays, aggressive bidding competition, and potential contract modifications or terminations.
The company's top 10 customers contributed 97.96%, 98.25% and 95.90% of revenue from operations during Fiscals 2026, 2025 and 2024 respectively. Loss of any major customer could significantly impact revenue, business operations and financial condition.
Objectives
The company intends to enhance operational efficiency by procuring machinery or equipment including Horizontal Directional Drilling machines. The company continuously invests in procurement of plant and machinery essential for executing business operations, in alignment with total Order Book and management's projections of future requirements.
The company proposes to utilize funds towards funding incremental working capital requirements to support business operations including participation in BharatNet Phase III project and strategic expansion into Railway Signalling & Telecom sector. The funding will lead to consequent increase in profitability and achieving proposed targets as per business plan.
The company proposes to deploy funds towards general corporate purposes including expense requirements, funding growth opportunities, meeting corporate contingencies and expenses incurred in ordinary course of business, strategic initiatives and other purposes as approved by Board from time to time.
Yearly Financial Results
Balance Sheet
| Balance Sheet | Mar 2024 | Mar 2025 |
| Total Assets | 161.34 | 233.37 |
| Current Assets | 123.25 | 195.79 |
| Fixed Assets | 38.09 | 37.58 |
| Total Equity & Liabilities | 161.34 | 233.37 |
| Total Liabilities | 92.41 | 111.31 |
| Current Liabilities | 88.06 | 106.83 |
| Non Current Liabilities | 4.35 | 4.48 |
| Total Equity | 68.93 | 122.06 |
Cash Flow
| Cash Flow | Mar 2024 | Mar 2025 |
| Net Cash Flow | 0.29 | -2.51 |
| Investing Activities | -3.92 | -1.41 |
| Operating Activities | 8.21 | -35.38 |
| Financing Activities | -3.99 | 34.28 |
About Annu Projects
The company is engaged in the design, development, implementation, operations and maintenance of essential overhead and underground utilities infrastructure across telecom infrastructure, sewerage infrastructure vertical, gas pipeline vertical and railway signalling vertical. Established in 2003, the company is one of the diversified companies in the EPC sector, involved in fields...more
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Managing DirectorSanjay Kumar Sarraf
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