Poojaa Precision Engg, a precision aluminium die casting and machining components manufacturer based in Pune, has filed its Draft Red Herring Prospectus (DRHP) with SEBI for an initial public offering. The company, incorporated in 1992, serves diversified sectors including automotive, electric vehicles (EV), agriculture, defence, and healthcare. The IPO is scheduled to open on 28-Jul-2026, with proceeds earmarked for setting up a new manufacturing facility (Unit 3) and meeting working capital requirements.

Company Overview

Poojaa Precision Engg specialises in the manufacturing of aluminium die casting and machining components. It offers integrated solutions covering design, engineering, melting, casting, cleaning, and value-added processes. The company operates two integrated manufacturing facilities in Chakan, Pune, with a total melting capacity of 13,800 MT and casting/finishing capacity of 6,000 MT annually.

Key operational strengths include:

• Diverse Portfolio: Over 600 SKUs across Gravity Die Casting (GDC), Low-Pressure Die Casting (LPDC), and High-Pressure Die Casting (HPDC).
• Customer Base: Expanded from 39 customers in FY2024 to 58 customers in FY2026.
• Sector Exposure: 72.58% of revenue in FY2026 was from the automotive sector, with growing exposure to EVs and non-automotive verticals.
• Management: Led by CEO Anil Shivajirao Kulkarni (32 years experience) and Managing Director Sanket Anil Kulkarni (16 years experience).

Offer Details

The company has not yet disclosed the price band or final issue size in the DRHP. However, the proposed use of proceeds is clearly defined:

IPO Timeline:

• IPO Open Date: 28-Jul-2026
• IPO Close Date: 30-Jul-2026
• Allotment Date: 31-Jul-2026
• Listing Date: 04-Aug-2026

Note: Price band, lot size, and specific reservation categories (QIB, NII, Retail) will be disclosed in the final Red Herring Prospectus (RHP).

Financial Highlights

Poojaa Precision Engg has demonstrated strong growth over the last three fiscal years. Revenue grew at a CAGR of 30.06%, while Profit After Tax (PAT) grew at a CAGR of 38.53% from FY2024 to FY2026.

Balance Sheet & Cash Flow:

• Total Assets increased to ₹231.38 Cr in FY2026 from ₹96.75 Cr in FY2024.
• Operating cash flows were positive across all three years, with ₹23.80 Cr in FY2026.
• Debt-to-Equity ratio rose from 0.49x in FY2024 to 0.74x in FY2026.

Risk Factors

Investors should note the following material risks disclosed in the DRHP:

1. Customer Concentration: Top 5 customers contributed more than 70% of revenue in the last 3 years. Customer 1 alone contributed 31.75% of revenue in FY2026. The company generally does not enter into long-term purchase agreements.
2. Raw Material Volatility: Aluminium comprises 72.43% of raw materials consumed in FY2026. The company is exposed to global commodity price fluctuations without firm supply commitments.
3. Missing Corporate Records: The company disclosed it cannot trace certain historical and statutory corporate records, including filings with the Registrar of Companies, which poses a governance risk.
4. Automotive Dependency: 72.58% of revenue in FY2026 was from the automotive sector, making the company vulnerable to sector-specific downturns.
5. Expansion Risks: The proposed Unit 3 expansion involves significant capex (₹106.34 Cr) and entry into magnesium casting, where the company has limited prior experience.

Valuation & Peer Comparison

Valuation metrics such as P/E ratio cannot be calculated as the price band and issue size are not available in the DRHP. Investors will need to wait for the RHP filing to assess valuation against peers like Minda Industries or Endurance Technologies.

Bottom Line

Poojaa Precision Engg presents a growth story with strong revenue and profit CAGRs and an expansion plan funded by the IPO. However, investors must weigh these positives against high customer concentration, commodity price risks, and governance concerns regarding missing historical records. The final investment decision will depend on the price band revealed in the RHP.

Poojaa Precision Engg, a Pune-based manufacturer of precision aluminium die casting and machining components, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI). The company, incorporated in 1992, serves automotive, electric vehicle (EV), and non-automotive sectors including agriculture, defence, and healthcare. This filing marks the first formal step towards listing, with the IPO scheduled to open on 28-Jul-2026.

Company Overview

Poojaa Precision Engg operates two manufacturing facilities in Pune, Maharashtra, with a combined melting capacity of 13,800 MT and casting/finishing capacity of 6,000 MT per annum. The company supports Gravity Die Casting (GDC), Low-Pressure Die Casting (LPDC), and High-Pressure Die Casting (HPDC) processes. It manufactures over 600 SKUs, including safety-critical components, for domestic and export customers.

The company’s customer base expanded from 39 customers in FY2024 to 58 customers in FY2026. Automotive sector contributed 72.58% of revenue in FY2026, while the EV sector represents a growing segment. The management team includes Sanket Anil Kulkarni as Managing Director and Anil Shivajirao Kulkarni as CEO, bringing decades of industry experience.

Offer Details

The company has not disclosed the price band or total issue size in the provided DRHP data. However, the objects of the issue indicate a significant fresh component:

The Offer for Sale (OFS) component is not available. The IPO timeline is as follows:

Financial Highlights

Poojaa Precision Engg has demonstrated strong revenue and profit growth over the last three fiscal years. Revenue from operations grew at a CAGR of 30.06%, while Net Profit (PAT) grew at a CAGR of 38.53% from FY2024 to FY2026.

Total assets expanded significantly to ₹231.38 Crore in FY2026, driven by capital expenditure and working capital build-up. Outstanding financial indebtedness as of 30-Jun-2026 was ₹7,082.56 lakhs (₹70.83 Crore).

Risk Factors

Investors should note several material risks disclosed in the DRHP:

1. Customer Concentration: Top 5 customers contributed more than 70% of revenue from operations across the last 3 fiscal years. Customer 1 alone contributed 31.75% of revenue in FY2026. The company does not generally enter into long-term purchase agreements.
2. Raw Material Volatility: Aluminium comprises 72.43% of raw material consumed in FY2026. Prices are linked to global LME prices, and materials are procured without firm commitments.
3. Automotive Sector Dependence: 72.58% of revenue in FY2026 was attributable to the automotive sector, exposing the company to cyclicality and regulatory shifts.
4. Missing Corporate Records: The company disclosed it cannot trace certain historical and statutory corporate records, including filings with the Registrar of Companies relating to allotments and appointments.
5. Expansion Risks: The proposed Unit 3 expansion involves significant capex (₹106.34 Crore) and limited prior experience in magnesium casting, posing technology stabilisation risks.

Valuation & Peer Comparison

Price band and share capital data are not available in the provided DRHP extract, preventing formal P/E or P/B valuation analysis. However, the company reported a Return on Equity (ROE) of 23.20% in FY2026. Investors should refer to the final Red Herring Prospectus (RHP) for peer comparison metrics against listed entities in the aluminium die casting and auto components space.

Bottom Line

Poojaa Precision Engg presents a growth story with strong revenue CAGR of 30.06% and expanding PAT margins. The IPO aims to fund capacity expansion via Unit 3 and working capital needs. Key concerns include high customer concentration, dependence on aluminium prices, and the disclosure of missing historical corporate records. Investors should monitor the price band announcement and subscription trends when the IPO opens on 28-Jul-2026.