TE
UpcomingSMEEngineering · Heavy Engineering, Equipment Manufacturing
Thejo Engineering Limited
THEJO
★★★☆☆3/5
🔗 Official WebsitePrice Band: —
Min. Investment: 4020
Issue Size: 1900.66
About the Company
What does this company do?
Thejo Engineering Limited is engaged in the design, manufacturing and supply of heavy engineering equipment and components for power, thermal, petrochemical, fertilizer and process industries. The company manufactures pressure vessels, heat exchanger tanks, and related engineering equipment.
IPO Details
Issue parameters, key dates and structure.
Total Issue Size
1900.66
472800
Fresh Issue
1900.66
472800
Proceeds go to company
OFS
0
0
Proceeds to selling shareholders
Reservation Structure
QIB (Qualified Institutional Buyers)
50
229800
Including 11,490 for Mutual Funds
Products & Brands
Key offerings and brand portfolio of the company.
Mechanical Equipment Manufacturing: Design, manufacturing, assembly, installation and commissioning of specialized mechanical equipment and systems
Financial Performance
P&L, Balance Sheet and Cash Flow — all figures in ₹ Crores.
| Particulars (₹ Cr) | FY2012 | FY2011 |
|---|---|---|
| Revenue from Operations | 11554.10 | 9521.95 |
| Other Income | 249.63 | 98.61 |
| EBITDA | 1445.58 | 724.46 |
| EBITDA Margin | 12.5% | 7.6% |
| Depreciation & Amortisation | 163.78 | 150.33 |
| EBIT | 1117.02 | 574.13 |
| Finance Costs (Interest) | 367.07 | 277.33 |
| PBT (Profit Before Tax) | 1280.80 | 574.13 |
| Tax | 381.76 | 193.64 |
| PAT (Net Profit) | 900.71 | 382.26 |
| PAT Margin | 7.8% | 4.0% |
| EPS — Basic (₹) | 76.03 | 32.27 |
| EPS — Diluted (₹) | 76.03 | 32.27 |
All figures in ₹ Crores (INR). Data sourced from DRHP/RHP.
Key Financial Ratios
Valuation and profitability metrics at the IPO price.
EPS — Basic (₹)
76.03
FY2012
EPS — Diluted (₹)
76.03
FY2012
P/E Ratio
5.65
At upper band (430)
RoNW (%)
34.47
FY2012
NAV per Share (₹)
210.06
Pre-issue
Debt/Equity
0.95
FY2012
EBITDA Margin (%)
12.51
FY2012
PAT Margin (%)
7.79
FY2012
Revenue CAGR
21.33
FY2011-FY2012
SWOT Analysis
Internal strengths & weaknesses; external opportunities & threats.
💪Strengths
26+ years of operational experience
Diversified customer base across multiple industries
In-house manufacturing with multiple units
International certifications and quality standards
Export presence in Middle East markets
⚠️Weaknesses
High debt levels
Cyclical industry exposure
Small market cap relative to peers
Concentrated geographic operations in South India
Limited product diversification
🚀Opportunities
Growth in Indian power and petrochemical sectors
Increasing demand for specialized engineering equipment
Export market expansion
Technology upgradation and modernization
Market consolidation opportunities
🔥Threats
Cyclical downturns in heavy engineering
Foreign exchange volatility
Competition from larger players
Regulatory changes
Raw material price inflation
Competitive Strengths
Key advantages highlighted in the DRHP.
✓
Established player with 26+ years of experience in heavy engineering sector
✓
Diversified customer base across power, petrochemical, fertilizer and process industries
✓
In-house manufacturing capabilities with multiple production units
✓
Strong export presence in Middle East and international markets
✓
Quality certifications and compliance with international standards
Promoters & Shareholding
Pre & post-IPO shareholding pattern. Click a promoter card to learn more.
Promoters
Shareholding Pattern
PrePost
Key Risks
Material risk factors to consider before applying.
⚠
First public issue with no prior market history for shares
⚠
High leverage and debt burden
⚠
Cyclical nature of heavy engineering industry
⚠
Foreign exchange exposure
⚠
Dependence on key customers
◆ Neutral
Should You Apply?
Thejo Engineering Limited is an established heavy engineering equipment manufacturer with 26+ years of operational experience serving power, petrochemical, fertilizer and process industries. The company generated revenues of ₹11,554 Cr in FY2012 with PAT of ₹901 Cr, demonstrating strong profitability and 21% revenue growth. However, the company carries significant debt (₹2,493 Cr) with a debt-to-equity ratio of 0.95, and the P/E ratio of 5.65 at the upper price band of ₹430 appears reasonable for a growing engineering company. The offering provides SME platform exposure but carries cyclical industry risks and foreign exchange exposure. Suitable for investors with moderate risk tolerance seeking engineering sector exposure.
⚠️ This is not investment advice. CheckIPO provides information for educational purposes only. Always consult a SEBI-registered financial advisor before investing.
Lead Managers & Registrar
Institutions managing the issue and handling allotment.
Book Running Lead Managers (1)
IDBI Capital
Registrar to the Issue
📋
Cameo Corporate Services Limited
Registrar to the Issue
Anchor Investors
Institutional investors who subscribed prior to the IPO opening.
| Investor | Allocation (₹ Cr) | Shares Allotted |
|---|---|---|
| SIDBI Trustee Company Limited (India Opportunities Fund) | — | — |
Company Details
Registered information and contact details.
Company Name
Thejo Engineering Limited
CIN
U27209TN1986PLC012833
Registered Office
Aysha Building, 2nd floor, 41, Whites Road, Chennai 600 014, Tamil Nadu, India
Contact Person
Mr. M.D. Ravikanth
Phone
+91 44 4392 1900
Website
www.thejo-engg.com