Apsis Aerocom IPO Review | APPLY or AVOID?
Apsis Aerocom Limited started in 2022. It operates in the Precision Engineering industry and provides machined components to its customers across India and global markets. This business is based in Bengaluru. This IPO review covers the main facts of the offer. It helps you decide if the issue fits your portfolio.
Apsis Aerocom shows steady growth but the sudden profit jump in FY25 remains a key point to consider for investors.
IPO Details | |
|---|---|
| Issue Type | Book Building |
| IPO Category | SME |
| Face Value | ₹10 Per Share |
| Fresh Issue | ₹35.77 Cr. |
| Offer for Sale | ₹- |
| Listing At | NSE SME |
Reservation & Lot Size | |
|---|---|
| Retail (Min) | 2,400 Shares | ₹2,64,000 |
| Retail (Max) | 2 Lot | 2,400 Shares | ₹2,64,000 |
| S-HNI (Min) | 3 Lot | 3600 Shares | ₹3,96,000 |
| S-HNI (Max)| 7 Lot | 5695 Shares | ₹9,24,000 |
| B-HNI (Min) | 8 Lot | 9600 Shares | ₹10,56,000 |
| Market Maker | 14.25% |
✅ Strengths
⚠️ Challenges
Financial Update
The company released its restated financial statements for the year ending March 31, 2025. Total revenue was ₹20.57 crore, an increase from ₹16.88 crore in the previous year. The net profit for the same period was ₹6.64 crore, an increase from ₹2.55 crore in the previous year. Assets increased by 54.73% compared to the previous year. The company’s profit grew much faster than its income in the last year. This trend should be carefully studied prior to any investment.
IPO Valuation
The upper price band is ₹110. This price leads to a Price-to-Earnings (P/E) ratio of 19.97. The average P/E for the industry is 225.90. The stock looks cheaper than its main peer based on the P/E ratio.
Oneview Corporate Advisors Pvt.Ltd manages the issue and has a track record of handling SME listings.
IPO Objective
Company will use Offer proceeds to meet stated objectives:
- Purchase of new machinery to increase production.
- Meeting general corporate expenses for daily operations.
Promoters & Lead Manager
Peer Comparison
Below is the comparison of the company with its listed peers using data from March 31, 2025. The company has a much higher Return on Net Worth than its competitor. Apsis Aerocom’s IPO was considered a bargain due to its lower P/E ratio compared to Unimech, despite its high profit margins.
| Particulars | Dec-25 | FY25 | FY24 | FY23 |
|---|---|---|---|---|
| EBITDA Margin (%) | 12.47 | 13.55 | 8.80 | 11.14 |
| PAT Margin (%) | 8.51 | 7.90 | 4.05 | 5.17 |
| EPS (₹) | 9.17 | 8.98 | 3.01 | 2.54 |
| ROE (%) | 19.49 | 30.39 | 14.64 | 14.35 |
| ROCE (%) | 26.53 | 41.76 | 18.41 | 15.45 |
| ROA (%) | 9.73 | 14.70 | 6.29 | 5.92 |
| Debt to Equity (x) | 0.32 | 0.26 | 0.52 | 0.58 |
Note: 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
The company makes precision parts for aerospace and defence. It has shown fast growth in its sales and profits recently. However, the big jump in profit from 2025 might be hard to repeat every year. The price of the IPO seems fair according to the latest financial numbers. Smart investors might put a small amount of money for a long time.
| Analyst Name | Recommendation |
|---|---|
| Dilip Davda | Not Rated |
| Axis Capital Ltd | Not Rated |
| Brokerage Firms | 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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