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Valplast Technologies Ltd.

Valplast Technologies Ltd.

VALPLASTSME

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Overview

Valplast Technologies Limited, established in 2014, is a civil engineering and construction company specializing in a wide range of services for infrastructure projects. Its core offerings include structural waterproofing systems, injection grouting solutions, tunnel construction, pre-cast concrete structures, and Mechanical, Electrical & Plumbing (MEP) services for underground structures, tunnels, dams, and buildings. Operating across nine states in India, the company has completed over 40 projects, primarily as a sub-contractor for major contractors in sectors like defense, railways, and road infrastructure. Valplast Technologies Limited holds ISO certifications for quality management, environmental management, and occupational health and safety.

Opening Date

Sep 30, 2025

Closing Date

Oct 03, 2025

Listing Date

Oct 08, 2025

IPO Type

SME

IPO Status

Closed

Issue Size

28.09 Cr

Fresh Issue

28.09 Cr

Offer for Sale

Price Band

₹51 - ₹54

Lot Size

2000

IPO Timeline

Sep 30, 2025
Open Date
Oct 03, 2025
Close Date
Oct 06, 2025
Allotment Date
Oct 07, 2025
Initiation of Refunds
Oct 08, 2025
Listing Date

Financials

Revenue

Profit After Tax (PAT)

IPO Objective

The main objectives of the issue are to utilize the net proceeds for the following purposes:

  • Funding capital expenditure requirements by purchasing a Jumbo Tunnel Drilling Machine to enhance operational capacity and efficiency in the tunnel construction segment, with an estimated cost of ₹4.95 Crores.

  • To meet the incremental working capital requirements of the company to support its growing business operations and execute a larger number of projects, with a proposed utilization of ₹14.00 Crores.

  • To fund general corporate purposes, which may include strategic initiatives, brand-building exercises, and meeting unforeseen business needs.

Key Performance Indicator

P/E Ratio

7.81

EPS

6.911

ROE

22.41%

ROCE

18.82%

RONW

20.15%

Debt to Equity Ratio

0.74

PAT Margin

9.67%

EBITDA Margin

20.1%

P/B

2.57

SWOT Analysis

Strengths

  • Diverse portfolio of specialized civil engineering services including waterproofing, grouting, and tunneling.

  • Experienced management team with significant domain expertise in the construction and engineering industry.

  • Established track record with the successful completion of over 40 projects across various states in India.

  • Holds multiple ISO certifications (9001:2015, 14001:2015, 45001:2018), demonstrating a commitment to quality and safety.

Weaknesses

  • High dependence on a sub-contracting model for a majority of its revenue.

  • The business is working capital intensive, requiring significant funds for project execution.

  • Recent entry into the tunnel construction segment, which means a limited track record in this specialized area.

  • Financial performance shows a slight dip in revenue in the most recent fiscal year.

Opportunities

  • Strong government focus on infrastructure development through initiatives like Gati Shakti and the National Infrastructure Pipeline.

  • Growing demand for specialized construction services in sectors like railways, defense, and road infrastructure.

  • Opportunity to expand service offerings and geographical presence by leveraging IPO proceeds.

  • Increased private sector participation and FDI inflows into the Indian infrastructure sector.

Threats

  • High competition from numerous organized and unorganized players in the construction industry.

  • Project delays and cost overruns due to complex regulatory frameworks and land acquisition issues.

  • Economic slowdowns or fluctuations in raw material prices can adversely impact profitability and project viability.

  • Potential shortage of skilled labor in the engineering and construction sector.

Subscription Rate

CategoryShares Bid ForShares OfferedTimes Subscribed
Qualified Institutional Buyers24.54 L24.54 L1.00x
Non-Institutional Investors7.44 L7.44 L1.00x
Retail Individual Investors17.24 L17.24 L1.00x
Others2.80 L2.80 L1.00x
Total52.02 L52.02 L1.00x