| Annual Financials | Mar 2024 | Mar 2025 | Mar 2026 |
| Revenue | 34.10 | 50.04 | 60.53 |
| Expenses | 32.70 | 42.85 | 50.36 |
| Other Income | 0.67 | 0.76 | 3.46 |
| Total Revenue | 34.76 | 50.80 | 63.99 |
| Profit Before Tax | 2.06 | 7.94 | 13.64 |
| Net Profit | 1.48 | 5.83 | 10.22 |
Bench Mark Infotech Services
Bench Mark Infotech Services IPO
₹2,49,600
0.13 xOver-subscribedBidding Dates 25 Sept, 26 -29 Sept, 26
Min Investment ₹2,49,600
Lot Size1,200
Price Range ₹104 – ₹110
Issue Size ₹42.44 Cr.
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IPO Subscription Details
Retail Subscription Details
0.25 x
Non-Institutional Buyers (sHNI)
0.02 x
Non-Institutional Buyers (bHNI)
0.03 x
Qualified Institutional Buyers (QIB)
0 x
Total0.13 x
0.13 x IPO Timeline
IPO Offer Start
25 Sept,26
IPO Offer Ends
29 Sept,26
Allotment Finalisation
30 Sept,26
Refund Initiation
01 Oct,26
Listing of Shares
05 Oct,26
IPO Analysis
Strengths
The company operates an integrated business model providing design, supply, installation, commissioning, AMCs, and fibre optic infrastructure solutions under one roof, enabling complete project lifecycle management, improved operational efficiency, and both project-based and recurring revenue streams.
The company has maintained long-standing relationships with government, PSU, and institutional clients, with repeat customers accounting for 56.10% (FY2026), 58.33% (FY2025), and 67.74% (FY2024) of total customers, and average top customer relationship duration of 11 years in FY2026.
The company has an established track record of executing IT infrastructure, AMC, and fibre optic projects across government, PSU, institutional, and private sector clients in India, with revenue growing from ₹3,409.51 Lakhs in FY2024 to ₹6,052.76 Lakhs in FY2026 at a CAGR of 33.24%.
Risks
The company's top 10 customers contribute 94.19%, 89.08%, and 91.87% of total revenue from operations for FY2026, FY2025, and FY2024 respectively, with the single largest customer accounting for up to 60.93% of revenue in FY2025. The company has no long-term or exclusive arrangements with any customers, making it highly vulnerable to loss of key relationships or reduction in order volumes.
Government customers accounted for 73.10%, 95.01%, and 92.91% of revenue in FY2026, FY2025, and FY2024 respectively, with contracts awarded through competitive tender processes. The company's bid-to-win ratio has declined from 41.07% in FY2024 to 30.43% in FY2026, and any policy changes, budget cuts, or project delays by government entities could materially impact revenue.
Trade receivables surged to ₹5,497.96 lakhs as of March 31, 2026, representing 90.83% of revenue from operations, with receivable holding days increasing to 280 days in FY2026 from 239 days in FY2024. Of these, ₹1,017.21 lakhs (38.31% of net worth) have been outstanding for more than one year, while the provision for doubtful debts stands at only ₹41.38 lakhs, which may be insufficient.
Objectives
The company proposes to utilise up to a specified amount in lakhs from the Net Proceeds towards funding its working capital requirements in Fiscal 2027 and 2028, to support anticipated growth in integrated IT infrastructure project operations.
A portion of the Net Proceeds is intended to be utilized for general corporate purposes, not exceeding fifteen percent of the amount raised or Rs. 10 Crores, whichever is less, as per SEBI ICDR Regulations.
Yearly Financial Results
Balance Sheet
| Balance Sheet | Mar 2024 | Mar 2025 | Mar 2026 |
| Total Assets | 39.33 | 60.39 | 74.05 |
| Current Assets | 33.95 | 52.15 | 64.04 |
| Fixed Assets | 5.38 | 8.24 | 10.01 |
| Total Equity & Liabilities | 39.33 | 60.39 | 74.05 |
| Total Liabilities | 28.83 | 44.06 | 47.50 |
| Current Liabilities | 28.56 | 43.76 | 46.46 |
| Non Current Liabilities | 0.27 | 0.30 | 1.04 |
| Total Equity | 10.50 | 16.33 | 26.55 |
Cash Flow
| Cash Flow | Mar 2024 | Mar 2025 | Mar 2026 |
| Net Cash Flow | 1.84 | 4.78 | -6.15 |
| Investing Activities | 0.19 | -0.92 | -1.06 |
| Operating Activities | 4.87 | 6.54 | -6.77 |
| Financing Activities | -3.22 | -0.84 | 1.67 |
About Bench Mark Infotech Services
Bench Mark Infotech Services Limited, incorporated in 2007 and headquartered in Kolkata, is an integrated IT and digital infrastructure solutions company with over 19 years of experience. The company provides end-to-end technology infrastructure solutions — including LAN/WAN networking, audio-visual systems, surveillance, data centre, AI lab, cybersecurity, and fibre optic services...more
Managing DirectorVineet Kumar Gupta
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