Adisoft Technologies SME IPO Review | APPLY or AVOID?
Adisoft Technologies Ltd. started in 1997. It operates in the Industrial Digital Automation Solutions industry and provides Automated assembly lines, Material handling machines, Robotic work cells, and special-purpose machinery to its customers across India. This business is based in Pune. This IPO review covers the main facts of the offer. It helps you decide if the issue fits your portfolio.
Adisoft Technologies Ltd. shows rapid growth, but the aggressively priced valuation based on recent earnings remains a key point for investors to consider.
IPO Details | |
|---|---|
| Issue Type | Book Building |
| IPO Category | SME |
| Face Value | ₹10 Per Share |
| Fresh Issue | ₹74.10 Cr. |
| Offer for Sale | – |
| Listing At | NSE SME |
Reservation & Lot Size | |
|---|---|
| Retail (Min) | 2 Lot | 1600 Shares | ₹2,75,200 |
| Retail (Max) | 2 Lot | 1600 Shares | ₹2,75,200 |
| S-HNI (Min) | 3 Lot | 2400 Shares | ₹4,12,800 |
| S-HNI (Max)| 7 Lot | 5600 Shares | ₹9,63,200 |
| B-HNI (Min) | 8 Lot | 6400 Shares | ₹11,00,800 |
| Market Maker | 2,16,000 Shares | ₹3.72 Cr. |
✅ Strengths
⚠️ Challenges
Financial Update
The company released its restated financial statements for the year ending March 31, 2025. Total revenue was ₹133.02 crore, an increase from ₹104.14 crore in the previous year. The net profit for the same period was ₹16.11 crore, increased from ₹11.76 crore in the previous year. Assets increased by 33.33% compared to the previous year. The company has earned much more profit in the last three years. But the results for the first seven months of this financial year (FY26) are slightly lower than those of last year (FY25). Since the profit increased very quickly starting in FY24, we need to question if it can stay this high. This situation should be carefully reviewed before investing any money.
IPO Valuation
The upper price band is ₹172. This price leads to a Price-to-Earnings (P/E) ratio of 17.60 (based on FY25 EPS). The P/E ratio is 43.77 when calculated on an annualized basis for the first seven months of FY26. The peer comparison shows a competitor trading at a P/E of 21.99. The pricing seems too high, particularly when considering the lower annualized earnings for FY26. Investors should be cautious about the stock’s high price relative to its recent earnings.
IPO Objective
The company will use the offer proceeds to meet stated objectives:
- ₹10.00 Cr. for repayment and/or pre-payment, in full or part, of borrowing availed by the Company.
- ₹37.77 Cr. for funding the Capital Expenditure requirements towards setting up a new factory unit.
- ₹10.00 Cr. to meet the working capital requirements of the company.
- The remaining amount will be used for General Corporate Purposes.
Promoters & Lead Manager
Peer Comparison
Below is the comparison of the company with its listed peers using data from –. The company has compared itself with Patil Automation Limited. However, they are not completely comparable in terms of business size or product mix. Adisoft Technologies shows a higher Return on Net Worth (32.71%) than its peers (21.8%). Investors should view this comparison with caution, as it may not be a like-for-like comparison.
| Company | EPS (Basic) | EPS (Diluted) | NAV (₹ per share) | P/E Ratio | RoNW (%) | Total Income (₹ in lakhs) |
|---|---|---|---|---|---|---|
| Adisoft Technologies Ltd | 13.41 | 13.41 | 41.01 | – | 32.71% | 13,302.00 |
| Patil Automation Limited | 7.62 | 7.62 | 34.96 | 21.99 | 21.8% | – |
Financial data sourced from annual reports and stock exchange data, using restated financial statements for 2024-25. NAV per share (closing net worth divided by weighted average number of paid-up equity shares) and RoNW (net profit after tax divided by closing net worth).
IPO Review & Analyst Rating
Adisoft Technologies Ltd. is an industrial digital automation solutions provider. The company has shown strong financial results with an inconsistent top line, but the bottom line has shown marked growth. The financial results for the seven months of FY26 indicate a decline in both revenue and profit. Based on this recent financial data, the issue appears aggressively priced.
| Analyst Name | Recommendation |
|---|---|
| Beacon Capital Advisors Pvt. Ltd. (Equivision) | Apply |
| Dilip Davda | Not Rated |
| – | – |
Disclaimer: The information on the site is informational only. The contents of this blog are not financial advice. You should not invest in any stock market instrument without consulting your Financial advisor.
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