Admach Systems Ltd.
IPOIssue Details
Issue Size
– Cr
Fresh Issue
– Cr
OFS
– Cr
Price Band
₹227 – ₹239
Lot Size
600
₹1,43,400
Face Value
₹10
Listing Price
₹191.2
Important Dates
Open Date
23 Dec 2025
Close Date
26 Dec 2025
Allotment
29 Dec 2025
Refund
30 Dec 2025
Listing
31 Dec 2025
About Company
Incorporated in 2008, Admach Systems Limited is engaged in designing, manufacturing, exporting, and supplying customised special purpose machines and automation systems.
The company provides engineering solutions primarily to the steel, automobile, food, tooling and general engineering industries.
Key offerings include special purpose machines, robotic material handling systems, automation and assembly machines, and packaging machines.
The company also offers product design services and integrated automation solutions.
Admach Systems operates at an annual production capacity of 100 machines and achieved 100% utilization in FY 2024–25.
The manufacturing facility and corporate office are located in Pune, Maharashtra.
The company’s solutions are designed to improve productivity, safety and efficiency for industrial customers.
Admach Systems serves both Indian and global engineering customers through customized automation projects.
Objects of the Issue
| # | Description | Amount (₹ Cr) |
|---|---|---|
| 1 | Funding of capital expenditure requirements towards purchase of new machinery and installation cost thereon. | ₹16.47 |
| 2 | Funding working capital requirements of the company. | ₹15.5 |
| 3 | General corporate purposes. | ₹6.38 |
Financial Performance
Share Reservations
QIB
5,92,200
Anchor
2,10,600
NII
3,79,800
Retail
7,21,200
Employee
0
Total
17,82,600
RHP Insights
AI-powered analysis from Red Herring Prospectus
No Formal Dividend Policy
As of the DRHP date, the company has not declared any dividends during the last three financial years and does not have a formal dividend policy in place.
Impact: ModerateSignificant Revenue and Profit Growth
The company has shown strong financial performance, with revenue from operations growing from ₹1,310.48 Lakhs in FY 2023 to ₹5,335.82 Lakhs in FY 2025. During the same period, Profit After Tax (PAT) surged from ₹9.70 Lakhs to ₹609.81 Lakhs.
Impact: HighStrong Return on Net Worth (RoNW)
The company reported a high Return on Average Net Worth of 27.69% for the financial year ended March 31, 2025, reflecting efficient utilization of shareholder equity to generate profits.
Impact: HighHigh Customer Concentration Risk
The company's business is heavily concentrated, with its top 10 customers accounting for 95.03% of total sales in FY 2025. The loss of any major customer or a reduction in their orders could materially affect operations.
Impact: LowStrategic Conversion to Public Limited Status
Originally incorporated as a private limited company in 2008, the entity successfully converted to a public limited company in October 2024 to facilitate its listing on the BSE SME platform.
Impact: HighSWOT Analysis
AI-generated strategic view
Strengths
- •Experienced promoters supported by a capable management and execution team.
- •Diversified customer base across multiple industries such as steel and automobile.
- •Focus on quality with defined quality control processes.
- •Strong growth in revenue and profitability in recent years.
- •Specialization in customized special purpose machines and automation solutions.
Weaknesses
- •Small scale of operations compared to larger industrial automation peers.
- •Business dependent on capital expenditure cycles of customer industries.
- •Order-based project business leading to volatility in quarterly performance.
Opportunities
- •Growing demand for automation and productivity solutions in Indian manufacturing.
- •Rising adoption of robotic and special purpose machines in core industries.
- •Potential to expand export business and enter new segments.
- •Scope to increase capacity beyond current 100 machines per year.
Threats
- •Competition from domestic and international automation equipment manufacturers.
- •Technological obsolescence risk requiring continuous innovation.
- •Macroeconomic slowdown impacting capex plans of clients.
Admach Systems Ltd. IPO Peer Comparison
The table below shows peer comparison from DRHP/RHP.
| Company | EPS Basic | EPS Diluted | NAV | P/E(x) | RoNW | Financial statements |
|---|---|---|---|---|---|---|
| Admach Systems Ltd. | 12.57 | 12.57 | 44.14 | 27.69 | – | Consolidated |
Admach Systems Ltd. - Documents & Links
Registrar
Company contact
Admach Systems Ltd.
Address: Survey No 122, Village Nandoshi, Off Pune Sinhagad Road, Khadakwasla R.S., Pune, Maharashtra, 411024
admach@admach.co.inhttp://www.admach.co.in/Lead managers
Frequently Asked Questions
Common questions about Admach Systems Ltd. IPO.