Super Iron Foundry Limited is coming up with an IPO with a fresh issue of 63,01,200 shares worth INR 68.05 crores. The company aims to fund the working capital requirements, repay the existing borrowings and meet general corporate purposes.
Super Iron Foundry IPO – Important Dates
| Super Iron Foundry Limited IPO Date | March 11, 2025 to March 13, 2025 |
| Super Iron Foundry Limited IPO Listing Date | March 19, 2025 |
| Super Iron Foundry Limited IPO Price | INR 108 per share |
| Super Iron Foundry Limited IPO Lot Size | 1,200 shares |
| Super Iron Foundry Limited IPO Total Issue Size | INR 68.05 crores |
| Super Iron Foundry Limited IPO Basis of Allotment | March 17, 2025 |
| Super Iron Foundry Limited IPO Initiation of Refunds | March 18, 2025 |
| Super Iron Foundry Limited IPO Credit of Shares to Demat | March 18, 2025 |
| Super Iron Foundry Limited IPO Issue Type | Fixed Price Issue IPO |
| Super Iron Foundry Limited IPO Listing At | BSE SME |
Read more about Super Iron Foundry Limited IPO GMP
Super Iron Foundry Limited IPO – Company Profile
Strategically located in Durgapur, West Bengal, a mineral rich, the company manufactures municipal castings, ductile iron pipe fittings, ductile iron automotive castings,ductile iron agricultural castings (rollers and crosskills), railway castings and cast-iron counterweights.
The municipal castings are used primarily in roadway construction and these products are used in major construction projects to provide access covers to cover the storm water, sewerage, telecom and other utility networks.
The company mainly exports its products to European and Middle Eastern markets. In Europe, they sell through distributors, wherein the Company does subcontract manufacturing for the distributors under their brand.
The Middle East business is driven through agents who work in mega projects on behalf of the Company and they typically carry minimal stocks and supply to the projects directly. Design, quality assurance and quality control are critical aspects of the manufacturing process as ~ 95%+ of the products are exported to European and Middle-Eastern countries which are known for their quality consciousness.
Super Iron Foundry Ltd IPO Fundamental Analysis
Super Iron Foundry’s financials reveal a mix of improving profitability and reducing leverage, but some concerns around revenue and inventory management. Here’s a category-wise breakdown of key financial metrics:
1. Revenue Growth
- Revenue increased from ₹12,480.28 lakhs in March 2023 to ₹15,482.98 lakhs in March 2024.
- The revenue of the company is ₹8,719.57 lakhs as of December 2024.
2. Equity Growth
- Equity increased steadily from ₹5,261.65 lakhs in March 2023 to ₹7,058.92 lakhs in December 2024.
- This growth is a positive sign, indicating strengthening shareholder value.
3. Expense Management
- Expenses followed a similar trend to revenue, rising from ₹12,444.23 lakhs in March 2023 to ₹15,215.04 lakhs in March 2024. The expense of the company is to ₹8,217.97 lakhs as of December 2024.
- The expenses aligns with the revenue drop, suggesting controlled cost management.
4. Profitability
- Profit after tax (PAT) grew significantly from ₹128.33 lakhs in March 2023 to ₹952.53 lakhs in December 2024.
- This sharp rise in profitability is a strong indicator of improved operational efficiency.
5. Earnings Per Share (EPS)
- EPS increased from ₹0.78 in March 2023 to ₹5.65 (not annualized) in December 2024.
- A rising EPS indicates stronger earnings per share, which is positive for investors.
6. Return on Net Worth (RoNW)
- RoNW improved from 2.44% in March 2023 to 13.49% (not annualized) in December 2024.
- This indicates higher efficiency in generating returns for shareholders.
7. Net Asset Value (NAV) per Share
- NAV per share grew from ₹31.89 in March 2023 to ₹41.30 in December 2024.
- A rising NAV is a positive sign, reflecting increased net worth per share.
8. Assets and Liabilities
- Total assets increased from ₹20,920.24 lakhs in March 2023 to ₹23,232.07 lakhs in March 2024 but slightly declined to ₹22,633.42 lakhs in December 2024.
- Total liabilities followed a similar trend, rising from ₹15,658.59 lakhs in March 2023 to ₹17,576.36 lakhs in March 2024, then decreasing to ₹15,574.50 lakhs in December 2024.
9. Debt to Equity Ratio
- Debt-to-equity ratio improved from 8.65 in March 2023 to 4.48 in December 2024.
- This is a significant positive development, as lower leverage reduces financial risk.
10. Liquidity Position (Current Ratio)
- The current ratio improved slightly from 1.20 in March 2023 to 1.36 in December 2024.
- This indicates a better ability to meet short-term obligations.
11. Inventory Turnover Ratio
- Inventory turnover improved from 1.83 in March 2023 to 2.04 in March 2024 but fell to 0.87 in December 2024.
- The declining ratio suggests inefficiencies in inventory management, which could lead to higher holding costs.
Super Iron Foundry IPO Financial Analysis
| Particular | As of 31 March 2023 | As of 31 March 2024 | As of 31 December 2024 |
| Revenue (₹ in lakhs) | 12,480.28 | 15,482.98 | 8,719.57 |
| Equity (₹ in lakhs) | 5,261.65 | 5,655.71 | 7,058.92 |
| Expenses (₹ in lakhs) | 12,444.23 | 15,215.04 | 8,217.97 |
| Profit and Loss After Tax (₹ in lakhs) | 128.33 | 394.07 | 952.53 |
| Diluted EPS only (₹) | 0.78 | 2.39 | 5.65 (not annualised) |
| Return on Net Worth (%) | 2.44 | 6.97 | 13.49 (not annualised) |
| NAV per Equity Share (₹) | 31.89 | 34.28 | 41.30 |
| Total Assets (in lakhs) | 20,920.24 | 23,232.07 | 22,633.42 |
| Total Liabilities (in lakhs) | 15,658.59 | 17,576.36 | 15,574.50 |
| Debt to Equity Ratio (in times) | 8.65 | 6.26 | 4.48 |
| Current Ratio (in times) | 1.20 | 1.21 | 1.36 |
| Inventory Turnover Ratio (in times) | 1.83 | 2.04 | 0.87 |
Super Iron Foundry Limited IPO Peer Comparison
Super Iron Foundry Limited reported ₹15,482.99 lakhs in revenue, EPS of ₹2.39, and RoNW of 6.97%. Bhagwati Autocast and Universal Auto Foundry showed higher NAVs and EPS, with Bhagwati having the lowest P/E ratio at 20.40.
| Company | Revenue from Operations (₹ in lakhs) | Face Value per Equity Share (₹) | P/E Ratio | EPS (₹)(Basic & Diluted) | RoNW (%) | NAV per Equity Share (₹) |
| Super Iron Foundry Limited | 15,482.99 | 10 | NA | 2.39 | 6.97 | 34.28 |
| Bhagwati Autocast Limited | 13,421.00 | 10 | 20.40 | 24.10 | 18.40 | 142.00 |
| Universal Auto Foundry Limited | 20,250 | 10 | 79.10 | 3.93 | 6.70 | 58.66 |
Super Iron Foundry Ltd IPO Objective
Super Iron Foundry plans to utilize INR 29.00 crores from net proceeds for working capital needs, INR 16.00 crores for debt repayment, and the remaining funds for general corporate purposes, including strategic initiatives, branding, and business expansion.
- Funding working capital requirements: The business of the company is working capital intensive.The company intends to utilise INR 29.00 crores from Net Proceeds to meet its working capital requirement.
- Repay borrowings of the company: The company plans to repay either in full or part the existing borrowings. The company plans to utilise INR 16.00 crores from Net Proceeds for the said purpose.
- General Corporate Purpose: The company will deploy the remaining amount for general corporate purposes, including strategic initiatives, partnerships, acquisitions, branding, marketing, facility upgrades, client referrals, and other business needs.
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Super Iron Foundry IPO Risks And Challenges
Super Iron Foundry relies on 10 customers for 95% of its revenue, and losing key clients could impact financial performance. Any manufacturing disruptions or negative cash flows may adversely affect business operations, growth prospects, and overall financial stability.
- Any disruption, breakdown or shutdown of the manufacturing facility may have a material adverse effect on the business.
- Almost 95% of the revenue of the company is dependent on 10 customers. The loss of any significant clients may have an adverse effect on the business, financial condition, results of operations, and prospects.
- The company has experienced negative cash flows from operating activities and may do so in the future, which could have a material adverse effect on the business, prospects, financial condition, cash flows and results of operations.
Super Iron Foundry Ltd IPO – Industry & Market Potential
India occupies the second position in the global casting industry and is poised with ambitious plans to expand its market presence at a rapid pace. It is estimated that the foundry industry in India is producing estimated 12 million MT of various grades of castings as per international standards.
The foundry industry made rapid progress in the post-independence years. This could be directly related to the industrialization programme launched through India’s five-year plans. Successive plans were aimed at expanding and diversifying India’s manufacturing base. There were massive outlays made to develop infrastructural facilities and rapidly expand engineering industries.
Super Iron Foundry Limited IPO – Type of Offer
Super Iron Foundry Limited is launching an IPO with a fresh issue of 63,01,200 shares, aggregating to INR 68.05 crores. The company plans to utilize the proceeds for working capital requirements, repayment of existing borrowings, and general corporate purposes.
Super Iron Foundry IPO Offer Size
The offer size of Super Iron Foundry Limited’s IPO is INR 68.05 crores, consisting of a fresh issue of 63,01,200 shares. The company plans to utilize the proceeds for working capital requirements, repayment of existing borrowings, and general corporate purposes.
Super Iron Foundry Limited IPO Allotment Structure
Super Iron Foundry Limited allotment structure includes a category for Retail Individual Investors (RII) with investments below ₹2 lakhs, a category for other investors exceeding ₹2 lakhs, and a reservation of 3,15,600 shares for Market Makers.
- Retail Individual Investors (RII): These individual investors apply for shares with a total value of less than Rs.2 lakhs.
- Other than retail individual investors: Such applications where the value exceeds INR 2 lakhs.
- Market Makers Reservation: A certain percentage or number of shares is reserved for market makers. The company has set aside 3,15,600 shares for this purpose.
How to apply for the Super Iron Foundry IPO?
To apply for the Super Iron Foundry Limited IPO through Alice Blue, follow these steps:
Open a Demat and Trading Account: If you don’t have one already, you must open a Demat and trading account with Alice Blue.
- Check for IPO Details: Once your account is active, you can check for the Super Iron Foundry Limited IPO details in the IPO section of the Alice Blue platform.
- Place the Bid: Enter the number of shares you wish to buy and place your bid within the IPO’s price band.
- Submit the Application: Confirm all your details and submit your application.
You can apply for the Super Iron Foundry Limited IPO at Alice Blue in just a few clicks!
Check Allotment Status: After the allotment process, you can check the allotment status to see if you have received any shares.
Please note that the allotment of shares is not guaranteed and will depend on the demand for the IPO.
How do you check Super Iron Foundry IPO Allotment Status?
Checking the allotment status of an IPO in Alice Blue is usually straightforward. Please follow these general steps:
- Log in to your Alice Blue Account: You can do this through the Alice Blue website or the trading app.
- Navigate to the Portfolio or IPO Section: This might differ based on the layout of Alice Blue’s platform, but generally, you can find the status of your IPO application under the ‘Portfolio’ or ‘IPO’ section.
- Find the IPO Allotment Status: Look for a sub-section called ‘IPO Allotment Status’ or something similar. This is where you can see the status of the IPOs you have applied for.
- Select the Super Iron Foundry Limited IPO: If you have applied for multiple IPOs, there might be a dropdown menu or a list where you can select the IPO you are interested in. Select the Super Iron Foundry Limited IPO.
- Check the Status: The status of your application should be displayed here. If the shares have been allocated to you, it would be mentioned here.
If you face any issues, we request you to reach out to our customer support team at Alice Blue for detailed assistance.
Apart from Alice Blue, there are other ways to check the allotment status of the Super Iron Foundry Limited IPO:
● Registrar’s Website: Visit the website of Mufg Intime India Private Limited, the registrar of the Super Iron Foundry Limited IPO. On the homepage, look for the ‘IPO Allotment Status’ option. You must enter your PAN, application, or Demat account number to check your allotment status. Click on the ‘Submit’ button to view your IPO allotment status.
● BSE SME: You can also check the allotment status on the official websites of the Bombay Stock Exchange’s (BSE) Small Medium Exchange (SME) Platform. You would need your application number and PAN to check the status.
Please note that the allotment status will only be available after completing the allotment process, a few days after the IPO window closes.
Super Iron Foundry Ltd IPO Offer Registrar
The registrar for the Super Iron Foundry Limited IPO is Mufg Intime India Private Limited. They are responsible for ensuring the IPO allotment and refund processes are carried out smoothly.
Contact information for the registrar:
MUFG INTIME INDIA PRIVATE LIMITED
C-101, 1st Floor, 247 Park, L.B.S. Marg
Vikhroli West, Mumbai 400 083
Maharashtra, India
Email: superiron.smeipo@linkintime.co.in
Website: www.linkintime.co.in
Super Iron Foundry IPO – FAQs
The allotment date of the Super Iron Foundry is March 17, 2025.
2. What is the price band of the Super Iron Foundry IPO?
The price band of the issue is INR 108 per share.
The offer size of Super Iron Foundry Limited’s IPO is INR 68.05 crores, consisting of a fresh issue of 63,01,200 shares. The company plans to utilize the proceeds for working capital requirements, repayment of existing borrowings, and general corporate purposes.
The listing date of the Super Iron Foundry is March 19, 2025.
Super Iron Foundry is getting listed on the Bombay Stock Exchange’s (BSE) Small Medium Exchange (SME) Platform.
The open and close dates of the Super Iron Foundry Limited are March 11, 2025 and March 13, 2025.
To apply for the Super Iron Foundry Limited IPO via Alice Blue, open a Demat account, check IPO details, place your bid, and submit your application. After allotment, check your status, noting that share allocation depends on demand and is not guaranteed.
The Book Runner for the Super Iron Foundry is Horizon Management Private Limited.
