Apollo Techno Industries Ltd.
IPOIssue Details
Issue Size
– Cr
Fresh Issue
– Cr
OFS
– Cr
Price Band
₹123 – ₹130
Lot Size
1000
₹1,30,000
Face Value
₹10
Listing Price
₹145
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 2016, Apollo Techno Industries Limited operates in the manufacturing and technology sectors.
The company specializes in trenchless technology and foundation equipment for the construction industry.
Key products include Horizontal Directional Drilling (HDD) rigs, Diaphragm Drilling Rigs, Rotary Drilling Rigs and related spare parts.
The company provides refurbishment services and sustainable solutions with in-house design and engineering capabilities.
The design team comprises five members supporting both domestic and international growth initiatives.
Apollo Techno focuses on understanding customer needs, building long-term relationships and expanding its market presence.
Gujarat contributes around 34.52% of domestic sales, followed by Maharashtra and Haryana.
As of June 30, 2025, the company had 154 employees.
Objects of the Issue
| # | Description | Amount (₹ Cr) |
|---|---|---|
| 1 | To meet working capital requirements. | ₹38.5 |
| 2 | General corporate purposes. | ₹3.52 |
| 3 | Public issue expenses. | ₹5.93 |
Financial Performance
Share Reservations
QIB
17,50,000
Anchor
10,50,000
NII
5,26,000
Retail
12,28,000
Employee
0
Total
36,89,000
RHP Insights
AI-powered analysis from Red Herring Prospectus
Exceptional Profitability and Margin Expansion
The company has demonstrated explosive growth in profitability, with Net Profit as Restated surging from ₹24.32 Lakhs in FY 2022 to ₹323.06 Lakhs in FY 2024, and further to ₹545.21 Lakhs in just the first half of FY 2025. EBITDA margins also expanded significantly from 3.87% to 18.47% in the same period.
Impact: HighStrong Return on Net Worth (RoNW)
Apollo Techno Industries reported a high Return on Net Worth of 32.08% for the period ended September 30, 2024, compared to 3.59% in FY 2022. This indicates a massive improvement in the efficiency with which the company utilizes shareholder equity to generate income.
Impact: HighRapid Export Revenue Scaling
The company has successfully diversified its market reach, with export revenue growing from 16.58% (₹884.16 Lakhs) in FY 2022 to 43.42% (₹2,138.21 Lakhs) in the first half of FY 2025, reducing domestic market dependency.
Impact: HighHigh Working Capital and Inventory Intensity
The business model is heavily working capital intensive, with inventories growing from ₹2,735.95 Lakhs in FY 2022 to ₹3,332.87 Lakhs by September 2024. Managing inventory and trade receivables is a critical operational risk.
Impact: LowRisks from Unconfirmed Balances and Financial Confirmations
The statutory auditors noted that balances for Trade Receivables, Trade Payables, Borrowings, and Loans & Advances are subject to confirmation. Discrepancies in these balances could lead to future financial adjustments.
Impact: LowSWOT Analysis
AI-generated strategic view
Strengths
- •Focus on quality and customer service.
- •Strong market presence driven by customer-centric approach.
- •Experienced promoters and management team.
- •In-house engineering and design capabilities.
- •Strong market presence across key regions.
Weaknesses
- •Erratic financial performance over the last few years with fluctuations in revenue.
- •Significant jump in profitability in FY 2025 raising questions on sustainability.
- •High debt-to-equity ratio indicating leveraged capital structure.
Opportunities
- •Growing infrastructure and construction activity in India supporting demand for drilling and foundation equipment.
- •Scope to increase market share in domestic as well as export markets.
- •Opportunity to add new equipment categories and value-added services.
Threats
- •Cyclical nature of construction and infrastructure industries.
- •Competition from domestic as well as international equipment manufacturers.
- •Volatility in raw material prices impacting margins.
- •Dependence on capital expenditure cycles of infrastructure developers.
Apollo Techno Industries 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 |
|---|---|---|---|---|---|---|
| Apollo Techno Industries Limited | 13.79 | 13.79 | 25.32 | 54.45 | – | Consolidated |
Apollo Techno Industries Ltd. - Documents & Links
Registrar
Lead managers
Frequently Asked Questions
Common questions about Apollo Techno Industries Ltd. IPO.