Technocraft Ventures Ltd.
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Overview
Technocraft Ventures Limited is a multidisciplinary public infrastructure EPC contractor executing turnkey projects across water and wastewater systems (WSSPs, sewerage networks, STPs/WWTPs, transmission mains, trenchless/microtunnelling), roads and highways, electrical transmission and select urban residential construction, along with long-term O&M of created assets. The company largely serves state governments and government agencies, with a footprint across North and Central India including Uttar Pradesh, Uttarakhand, Rajasthan and Delhi, and has recently expanded into Madhya Pradesh, Bihar and Odisha.
Opening Date
Aug 07, 2026
Closing Date
Aug 11, 2026
Listing Date
Aug 14, 2026
IPO Type
Mainboard
IPO Status
Closed
Issue Size
251.88 Cr
Fresh Issue
201.51 Cr
Offer for Sale
50.37 Cr
Price Band
₹200 - ₹212
Lot Size
70
IPO Timeline
Financials
Revenue
Profit After Tax (PAT)
Use of IPO funds
Key Performance Indicator
P/E Ratio
14.73
EPS
14.39
ROE
26.51%
ROCE
27.72%
RONW
26.51%
Debt to Equity Ratio
0.55
PAT Margin
12.56%
EBITDA Margin
20.92%
P/B
3.91
Bull vs Bear
Bull case
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The business is built for government EPC work, so repeat tendering and execution experience can create a moat that new contractors struggle to match.
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A large order book and active tender participation can improve revenue visibility, which matters for long-term planning and stable capacity utilization.
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In-house engineering depth supports end-to-end delivery, so the company can control quality and timelines better than firms relying heavily on outsiders.
Bear case
- •
Revenue is almost entirely from government clients, so policy shifts or budget delays can hit order flow, cash collection, and project execution together.
- •
Receivables are milestone-based and can stretch, so working capital pressure can rise and force higher borrowing, hurting cash flows and margins.
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Compliance lapses like delayed CSR usage can trigger penalties and reputational damage, which matters because government tenders value clean compliance records.
Net takeaway
The long-term story depends on the company’s ability to keep winning and delivering government water, wastewater, roads, and power contracts, supported by in-house execution. That can work well if tenders keep coming and payments keep moving, but concentration in government clients and long receivable cycles can strain cash and increase borrowing. One key thing to monitor over time is receivables and working-capital funding, because it affects both growth capacity and profitability.
