Complete Sports & Management India Ltd.
COMPLETE SPORTSSME
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Overview
Complete Sports and Management India Limited is an amusement and leisure equipment solutions company that sources, trades and distributes a broad range of indoor entertainment equipment—especially bowling systems and arcade games—and also executes installation, commissioning, maintenance and consulting/operations support for family entertainment centres, hospitality venues, clubs, corporates and other leisure destinations in India and select overseas markets. The company combines vendor sourcing (domestic and international), project planning and on-site execution with after-sales service, and has also begun forward integration by operating its own consumer-facing entertainment and hospitality venues in Mumbai.
Opening Date
Aug 28, 2026
Closing Date
Sep 01, 2026
Listing Date
Sep 04, 2026
IPO Type
SME
IPO Status
Closed
Issue Size
74.93 Cr
Fresh Issue
74.93 Cr
Offer for Sale
0 Cr
Price Band
₹128 - ₹135
Lot Size
1000
IPO Timeline
Financials
Revenue
Profit After Tax (PAT)
Use of IPO funds
Key Performance Indicator
P/E Ratio
11.15
EPS
12.11
ROE
53.55%
ROCE
47.97%
RONW
42.27%
Debt to Equity Ratio
0.21
PAT Margin
15.81%
EBITDA Margin
13.39%
P/B
4.77
Bull vs Bear
Bull case
- •
Exclusive Brunswick distribution ties the business to a trusted brand; relationships and know-how are hard to replicate, helping win bowling projects and service revenue.
- •
End-to-end offering from design to maintenance can lock in customers longer; it reduces their coordination pain, making switching suppliers more difficult.
- •
Industry shift toward organised indoor entertainment creates more venues needing equipment, installation and upkeep, expanding the long-term customer pool.
Bear case
- •
Revenue is highly concentrated: top 10 customers contributed 80.53% in FY2026, so losing one big account can quickly hit earnings and cash flows.
- •
Demand depends on operators’ capex and consumer footfall; if venues delay upgrades, equipment sales and margins can drop together.
- •
Supplies are concentrated and overseas: top 10 suppliers were 81.93% of purchases in FY2026; disruptions can delay projects and raise costs.
Net takeaway
This is a play on organised indoor entertainment, where the company earns by supplying and installing equipment and increasingly by running its own venues. The upside comes from hard-to-build supplier relationships, especially the exclusive Brunswick tie, and offering full project support that can deepen customer stickiness. But the business leans heavily on a few customers and a few global suppliers, so one relationship break can hurt results. Track customer concentration over time.
