| Annual Financials | Mar 2023 | Mar 2024 | Mar 2025 |
| Revenue | 9.67 | 10.74 | 14.07 |
| Expenses | 9.27 | 7.83 | 10.90 |
| Other Income | 0.23 | 0.29 | 0.10 |
| Total Revenue | 9.90 | 10.99 | 14.17 |
| Profit Before Tax | 0.64 | 3.16 | 3.27 |
| Net Profit | 0.44 | 2.39 | 2.52 |
Highness Microelectronics
Highness Microelectronics IPO
₹2,73,600
Bidding Dates 24 Mar, 26 -27 Mar, 26
Min Investment ₹2,73,600
Lot Size1,200
Price Range ₹114 – ₹120
Issue Size ₹21.67 Cr.
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IPO Timeline
IPO Offer Start
24 Mar,26
IPO Offer Ends
27 Mar,26
Allotment Finalisation
30 Mar,26
Refund Initiation
01 Apr,26
Listing of Shares
02 Apr,26
IPO Analysis
Strengths
The company is ISO 13485:2016 and ISO 9001:2015 certified by British Standards Certification and Inspection Council (BSCIC) for manufacturing products. All products undergo quality and test checks in accordance with established Standard Operating Procedures (SOPs), ensuring they meet standards and guarantee customer satisfaction.
The company provides custom products based on specific needs and technical requirements of Original Equipment Manufacturer (OEM) customers. The company works closely with them to deliver solutions that match each project's requirements.
The company has built a strong reputation which has played a key role in retaining valued clients. Ongoing relationships with existing customers foster repeat business and serve as a competitive advantage in attracting new clients and expanding reach.
Risks
The company is significantly dependent on imported raw materials, with imports representing 92.94%, 89.68%, 84.41% and 88.38% of total purchases for the periods under review. The company generally does not enter into long-term supply agreements, exposing it to supply disruptions and price volatility.
The company relies on a limited number of suppliers, with the top 1 supplier constituting over 89% of total purchases in FY 2025 and top 10 suppliers contributing over 97% of total purchases. Loss of these suppliers may adversely affect business operations and financial conditions.
The company derives substantial revenue from a limited customer base, with top 10 customers contributing 82.43%, 84.51%, 72.01% and 54.86% of revenue from operations across the periods under review. Loss of key customers could materially impact business performance and financial health.
Objectives
The company proposes to establish a new COG (Chip on Glass) and FOG (Film on Glass) assembly line to manufacture Open-Cell modules in-house, which are currently imported. This initiative represents a key part of the company's backward integration strategy and marks a significant move toward the localization of display module manufacturing.
The company intends to utilize funds for sourcing raw materials, maintaining adequate inventory levels, preparing the new assembly line for operations, making supplier advances, and managing receivables. This will support the company's expansion and transition into backward integration while ensuring uninterrupted business continuity.
The company proposes to utilize funds towards full or partial repayment or pre-payment of borrowings availed from various lenders. The company believes this will help reduce outstanding indebtedness, debt servicing costs, and enable utilization of internal accruals for further investment towards business growth and expansion.
The company intends to deploy funds for general corporate purposes including strategic initiatives, strengthening marketing network and capability, meeting exigencies, and brand building exercises in order to strengthen operations. The utilization shall not exceed 15% of the offer proceeds or Rs. 10 crore whichever is lower.
Yearly Financial Results
Balance Sheet
| Balance Sheet | Mar 2023 | Mar 2024 | Mar 2025 |
| Total Assets | 4.78 | 8.20 | 14.31 |
| Current Assets | 3.00 | 6.62 | 11.72 |
| Fixed Assets | 1.79 | 1.58 | 2.59 |
| Total Equity & Liabilities | 4.78 | 8.20 | 14.31 |
| Total Liabilities | 3.08 | 4.11 | 7.69 |
| Current Liabilities | 2.91 | 3.60 | 5.35 |
| Non Current Liabilities | 0.16 | 0.51 | 2.34 |
| Total Equity | 1.71 | 4.10 | 6.62 |
Cash Flow
| Cash Flow | Mar 2023 | Mar 2024 | Mar 2025 |
| Net Cash Flow | -0.13 | 0.22 | -0.15 |
| Investing Activities | -3.65 | -2.80 | -1.84 |
| Operating Activities | 4.19 | 3.20 | -1.42 |
| Financing Activities | -0.65 | -0.17 | 3.12 |
About Highness Microelectronics
Highness Microelectronics Limited is an ISO 9001:2015 and ISO 13485:2016 certified company engaged in the Design, Development, Integration, Assembly and Manufacture of Digital-Imaging Solutions. The company operates in two main categories: 'Off the Shelf Products' and 'Market Specific Solutions/Project', serving industry verticals including Industrial Automation, Medical & Healthcare, Railways, and...more
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Managing DirectorMr. Gaurav Manjul Kejriwal
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