| Annual Financials | Mar 2023 | Mar 2024 | Mar 2025 |
| Revenue | 35.97 | 101.23 | 133.14 |
| Expenses | 32.89 | 91.15 | 114.56 |
| Other Income | 0.01 | 0.13 | 0.23 |
| Total Revenue | 35.98 | 101.36 | 133.37 |
| Profit Before Tax | 3.09 | 10.21 | 18.81 |
| Net Profit | 2.56 | 8.45 | 15.61 |
Tipco Engineering
Tipco Engineering IPO
₹2,68,800
Bidding Dates 23 Mar, 26 -25 Mar, 26
Min Investment ₹2,68,800
Lot Size1,600
Price Range ₹84 – ₹89
Issue Size ₹60.55 Cr.
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IPO Timeline
IPO Offer Start
23 Mar,26
IPO Offer Ends
25 Mar,26
Allotment Finalisation
26 Mar,26
Refund Initiation
27 Mar,26
Listing of Shares
30 Mar,26
IPO Analysis
Strengths
The company offers a comprehensive portfolio across three different series (Mill Series, Disperser Series, and Homogenizers Series) including machinery such as bead mills, dispersers, and homogenizers, enabling it to cater to diverse customer preferences and industry requirements.
The company maintains continuing relationships with key customers through commitment to quality, timely delivery, and customized solutions. Top 10 customers contributed 75.80%, 78.83%, 76.94% and 60.97% of total revenue from operations for the respective periods.
The company's promoters Mr. Ritesh Sharma and Ms. Sonia Sharma have 18 years and 7 years of industry experience respectively, with experienced senior management team responsible for strategic planning and business development.
Risks
The company depends on top 10 customers for 75.80%, 78.83%, 76.94% and 60.97% of revenue from operations in the period ended December 31, 2025 and fiscals 2025, 2024 and 2023 respectively. The company does not have long-term contracts with customers and relies on purchase orders, exposing it to significant revenue volatility if major customers are lost.
The company's purchases from top 10 suppliers constitute 71.61%, 59.93%, 56.66% and 67.83% of total purchases in the period ended December 31, 2025 and fiscals 2025, 2024 and 2023 respectively. The company lacks continuing and exclusive supply agreements with suppliers, creating vulnerability to supply disruptions and price volatility.
The company's inability to obtain, renew or maintain statutory and regulatory licenses, permits and approvals required to operate could materially affect business operations. The company has not filed intimation applications with Pollution Control Board and faces ongoing compliance requirements that could result in operational restrictions.
Objectives
The company proposes to utilize funds for repayment/prepayment of secured and unsecured borrowings including loan against property and personal guarantees of Directors and Promoters. This will help reduce outstanding indebtedness, debt servicing costs and enable utilization of additional amount from internal accruals for business growth.
The company proposes to utilize funds for incremental working capital requirements to bridge the working capital gap arising from credit period to customers, inventory maintenance, and operational expansion. This will enhance liquidity, improve cash flows and unlock sales growth opportunities.
The company proposes to deploy the balance proceeds towards general corporate purposes including meeting operating expenses, initial development costs for projects, strengthening business development and marketing capabilities, and meeting exigencies as approved by the Board of Directors.
Yearly Financial Results
Balance Sheet
| Balance Sheet | Mar 2023 | Mar 2024 | Mar 2025 |
| Total Assets | 28.04 | 65.72 | 100.96 |
| Current Assets | 26.18 | 50.65 | 62.51 |
| Fixed Assets | 1.86 | 15.07 | 38.45 |
| Total Equity & Liabilities | 28.04 | 65.72 | 100.96 |
| Total Liabilities | 25.48 | 53.21 | 67.73 |
| Current Liabilities | 21.19 | 39.83 | 47.61 |
| Non Current Liabilities | 4.29 | 13.38 | 20.12 |
| Total Equity | 2.57 | 12.51 | 33.23 |
Cash Flow
| Cash Flow | Mar 2023 | Mar 2024 | Mar 2025 |
| Net Cash Flow | 0.06 | 3.04 | -2.38 |
| Investing Activities | -0.90 | -4.05 | -30.99 |
| Operating Activities | -6.07 | 0.23 | 8.76 |
| Financing Activities | 7.03 | 6.87 | 19.85 |
About Tipco Engineering
Tipco Engineering India Limited is engaged in manufacturing and supplying a comprehensive range of machinery including bead mills, dispersers, and homogenizers across three main series (Mill Series, Disperser Series, and Homogenizers Series). The company serves industries such as Paint and Coatings, Chemical, Printing and packaging, Metal industry, construction and infrastructure....more
Managing DirectorMr. Ritesh Sharma
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