Anawil Wire & Engineering Ltd.
ANAWILSME
Overview
Anawil Wire and Engineering Limited manufactures tubular steel wind turbine towers and related heavy steel fabrication components for wind energy OEMs and renewable-energy customers. The company operates two ISO-certified fabrication facilities in Koppal, Karnataka and Kutch, Gujarat, producing multi-section (typically five-section) towers up to about 140 meters hub height, supported by in-house testing/inspection infrastructure and a B2B order-driven model.
Opening Date
Aug 03, 2026
Closing Date
Aug 05, 2026
Listing Date
Aug 10, 2026
IPO Type
SME
IPO Status
Closed
Issue Size
177.81 Cr
Fresh Issue
142.69 Cr
Offer for Sale
35.12 Cr
Price Band
₹257 - ₹270
Lot Size
400
IPO Timeline
Financials
Revenue
Profit After Tax (PAT)
Use of IPO funds
Key Performance Indicator
P/E Ratio
14.53
EPS
18.58
ROE
56.53%
ROCE
23.05%
RONW
40.92%
Debt to Equity Ratio
1.43
PAT Margin
25.57%
EBITDA Margin
42.64%
P/B
5.78
Bull vs Bear
Bull case
- •
Making towers to customer specs with in-house testing can win repeat orders, because failures are costly for customers and switching suppliers is risky.
- •
Plants in Karnataka and Gujarat sit near major wind states, so delivery coordination is simpler and can help win orders when project timelines are tight.
- •
A large order book gives near-term work visibility, which matters because it can keep factories utilized and spread fixed costs across more output.
Bear case
- •
The business is new in wind towers and promoters lack deep segment experience, so mistakes in execution or strategy could hurt margins and customer trust.
- •
Revenue depends heavily on the tower division, so a demand drop or product shift in towers would hit sales and make new plants harder to utilize.
- •
Sales swing sharply with monsoon seasonality, so quarterly results can look weak, affecting cash planning and investor patience even if annual demand is steady.
Net takeaway
This is a young wind-tower manufacturer trying to scale using two plants and a quality-controlled process, which can support long-term relevance as wind projects grow. But it is concentrated: mostly one product line and strongly seasonal demand, so profits and cash needs can swing. For a long-term investor, the key thing to monitor is whether capacity utilization improves consistently while customer concentration and operational hiccups stay contained.

