| Annual Financials | Mar 2024 | Mar 2025 | Mar 2026 |
| Revenue | 88.96 | 75.17 | 101.16 |
| Expenses | 86.85 | 68.03 | 87.57 |
| Other Income | 0.72 | 0.36 | 1.88 |
| Total Revenue | 89.68 | 75.53 | 103.05 |
| Profit Before Tax | 2.83 | 7.50 | 15.48 |
| Net Profit | 2.00 | 4.91 | 11.56 |
Spectraa Technology Solutions
Spectraa Technology Solutions IPO
₹2,68,800
Bidding Dates 17 Sept, 26 -21 Sept, 26
Min Investment ₹2,68,800
Lot Size1,200
Price Range ₹112 – ₹118
Issue Size ₹42.52 Cr.
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IPO Timeline
IPO Offer Start
17 Sept,26
IPO Offer Ends
21 Sept,26
Allotment Finalisation
22 Sept,26
Refund Initiation
23 Sept,26
Listing of Shares
24 Sept,26
IPO Analysis
Strengths
The company operates two manufacturing facilities – one in Bengaluru and one in Jaipur, providing strategic coverage for southern, western and northern India with access to multiple logistics corridors for exports.
The company fabricates all equipment in-house from design to final assembly, covering cutting, rolling, welding, passivation, pressure testing, and factory acceptance testing before dispatch, enabling customization and quality control.
The company's order pipeline is anchored by existing and repeat customers across breweries, distilleries, malt spirit, extraction, food and beverage sectors. As of August 25, 2026, order book stands at ₹ 8,129.61 lakhs.
Risks
The company derives a significant portion of revenue from a limited number of customers, with top 5 customers accounting for 46.75% of total revenue in Fiscal 2026. Loss of any major customer could materially impact business operations and financial performance.
The company relies on a limited number of suppliers for raw materials, with top 10 suppliers accounting for 43.35% of total purchases in Fiscal 2026. Any supply disruption or adverse changes in supply terms could materially affect business operations.
Trade receivables form a substantial part of current assets with ₹4,446.70 lakhs outstanding as of March 31, 2026. Around 10% of receivables are contingent on project completion, creating cash flow mismatches and liquidity risks.
Objectives
The company proposes to expand its existing manufacturing area at Jaipur facility by an additional sq. ft. to enhance production capacity and enable efficient execution of current order book as well as upcoming projects. The expansion includes civil work, factory shed construction, and procurement of plant and machinery.
The company intends to utilize the proceeds towards repayment/prepayment of certain outstanding borrowings to help reduce outstanding indebtedness, debt servicing costs and improve debt-to-equity ratio, thereby enabling utilization of internal accruals for further investments in business growth.
The company requires working capital primarily for procurement of raw materials such as sheet metal, copper sheet, pipes and tubes. As the company continues to expand production capacity and cater to increasing demand, working capital requirements are expected to grow in tandem with manufacturing expansion.
The company intends to deploy the balance proceeds towards general corporate purposes including meeting operating expenses, initial development costs for projects, strengthening business development and marketing capabilities, meeting exigencies, and other purposes as approved by the Board of Directors.
Yearly Financial Results
Balance Sheet
| Balance Sheet | Mar 2024 | Mar 2025 | Mar 2026 |
| Total Assets | 66.64 | 100.00 | 106.29 |
| Current Assets | 57.47 | 86.94 | 85.75 |
| Fixed Assets | 9.17 | 13.06 | 20.54 |
| Total Equity & Liabilities | 66.64 | 100.00 | 106.29 |
| Total Liabilities | 58.46 | 86.88 | 81.32 |
| Current Liabilities | 54.17 | 82.27 | 67.08 |
| Non Current Liabilities | 4.28 | 4.61 | 14.25 |
| Total Equity | 8.18 | 13.12 | 24.81 |
Cash Flow
| Cash Flow | Mar 2024 | Mar 2025 | Mar 2026 |
| Net Cash Flow | 0.45 | -3.02 | 4.92 |
| Investing Activities | -2.04 | -4.48 | -8.86 |
| Operating Activities | 0.62 | 0.60 | 7.98 |
| Financing Activities | 1.87 | 0.85 | 5.79 |
About Spectraa Technology Solutions
SpectraA Technology Solutions Limited, incorporated in 2009 and converted to a public company in 2021, provides engineering, designing, fabrication, installation, commissioning and decommissioning services for greenfield and brownfield projects across various industries including Breweries, Distilleries, Food and Beverages, Malt Spirit and Blending, Extraction Plants, FMCG and Pharmaceuticals. The company operates...more
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Managing DirectorA L Arun Kumar
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