Poojaa Precision Engg.
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Subscription
- Qualified institutionalQIB
- 163.13×
- Big non-institutionalbNII · above ₹10 lakh
- 533.40×
- Small non-institutionalsNII · ₹2–10 lakh
- 260.31×
- Retail individualRII · up to ₹2 lakh
- 226.08×
- Employeesreserved quota
- 1.27×
Grey market premium
Unofficial and indicative — not a forecast
Day-wise premium · 7 observations
| Date | GMP | % | Sauda | Est. listing | Gain / lot |
|---|---|---|---|---|---|
| 04 Aug 2026 | ₹200 | — | ₹60,800 | — | ₹80,000 |
| 03 Aug 2026 | ₹235 | — | ₹71,400 | — | ₹94,000 |
| 02 Aug 2026 | ₹230 | — | ₹69,900 | — | ₹92,000 |
| 01 Aug 2026 | ₹220 | — | ₹66,900 | — | ₹88,000 |
| 31 Jul 2026 | ₹225 | — | ₹68,400 | — | ₹90,000 |
| 30 Jul 2026 | ₹225 | — | ₹68,400 | — | ₹90,000 |
| 29 Jul 2026 | ₹275 | — | ₹83,600 | — | ₹1,10,000 |
Gain per lot assumes the premium holds to listing and that the application is allotted — allotment in an oversubscribed issue is a lottery, so it is indicative, not expected. Sauda is the rate paid for a submitted application itself.
Issue details
- IPO date
- 28 Jul 2026 – 30 Jul 2026
- Listing date
- 04 Aug 2026
- Face value
- ₹10 per share
- Price band
- ₹285 – ₹301
- Issue price
- ₹301 per share
- Lot size
- 400 shares
- Sale type
- Fresh capital
- Issue type
- Book Building issue
- Listing at
- BSE
- Total issue size
- ₹160 Cr
- Fresh issue
- ₹152 Cr 50,44,000 shares
- Offer for sale
- ₹0 Cr 0 shares
- Market cap at offer price
- ₹600 Cr
- Promoter holding
- 82.63% → 60.63% pre-issue → post-issue
- ISIN
- INE288301026
- CIN
- U27310MH1992PLC068151
- Registrar
- MUFG Intime India Pvt.Ltd.
- Lead managers
- Hem Securities Ltd.
- Registered office
- Gat No. 253/1A, Village-Kharabwadi, Chakan, Pune, Maharashtra, India, 410501
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| QIB | 10,00,400 | 28.56% | 26.25% |
| Anchor investor · within QIB | 14,99,600 | — | 39.36% |
| NII (HNI) | 7,51,200 | 21.45% | 19.71% |
| bNII > ₹10L · within NII | 5,01,600 | — | 13.16% |
| sNII < ₹10L · within NII | 2,49,600 | — | 6.55% |
| Retail (RII) | 17,51,200 | 49.99% | 45.96% |
| Employee | 41,600 | — | 1.09% |
| Market maker | 2,66,000 | — | 6.98% |
| Total issue | 38,10,400 | — | 100.00% |
Net offer to the public of 35,02,800 shares, out of a total issue of 38,10,400. Indented rows sit inside the category above them and are not added to it.
Application size
Minimum 400 shares per lot, in multiples, at ₹301
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 400 | ₹1,20,400 |
| S-HNI (min) | 2 | 800 | ₹2,40,800 |
| S-HNI (max) | 8 | 3,200 | ₹9,63,200 |
| B-HNI (min) | 9 | 3,600 | ₹10,83,600 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Anchor investors
Institutional allocation placed a day before the issue opens, carved out of the QIB portion and locked in after listing.
Valuation and performance
Valuation at offer price
₹301 per share
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 21.12 | 15.49 |
| P/E (×) | 14.25 | 19.43 |
| Price to book (×) | 3.19 | — |
| Market cap | — | ₹600 Cr |
Key performance indicators
Latest reported period, standalone
- Return on net worth
- 23.21%
- ROCE
- 33.00%
- Debt / equity
- 0.31
- PAT margin
- 10.52%
- EBITDA margin
- 17.62%
- NAV per share
- ₹94.36
- Price to book
- 3.19
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
Company financials
Standalone ·₹ crore unless a row shows % or ×, as reported in the offer document
| Period ended | FY26 | FY25 | FY24 |
|---|---|---|---|
| Profit and loss | |||
| Total income | 295.2 | 222.8 | 174.59 |
| Revenue from operations | 293.86 | 222 | 173.72 |
| Other income | 1.34 | 0.8 | 0.86 |
| Total expenses | 252.74 | 190.6 | 152.9 |
| Operating profit | 42.46 | 32.2 | 21.69 |
| Operating margin | 14.38% | 14.45% | 12.42% |
| Profit before tax | 42.46 | 32.2 | 21.68 |
| Profit after tax | 30.9 | 23.93 | 16.1 |
| PAT margin | 10.47% | 10.74% | 9.22% |
| Balance sheet | |||
| Total assets | 231.38 | 135.92 | 96.75 |
| Current assets | 118.8 | 72.94 | 44.49 |
| Current liabilities | 75.94 | 35.32 | 21.48 |
| Total liabilities | 98.21 | 49.72 | 31.91 |
| Net worth | 133.16 | 86.2 | 64.83 |
| Current ratio | 1.56× | 2.07× | 2.07× |
| Return on equity | 23.21% | 27.76% | 24.83% |
| Cash flow | |||
| Operating cash flow | 23.8 | 15.87 | 16.27 |
| Investing cash flow | -57.35 | -15.97 | -14.59 |
| Financing cash flow | 33.77 | 0.13 | -6.58 |
| Net cash flow | 0.22 | 0.04 | -4.91 |
Objects of the issue
Stated use of the net proceeds— open a row for the issuer's full explanation
1 Funding capital expenditure towards setting up of manufacturing facility ₹106 Cr
The company proposes to utilize funds towards funding capital expenditure for expansion of its manufacturing capabilities by installation of plant and machinery and equipment at factory building (Unit 3) and installation of solar power generating system. The expansion will increase melting capacity and casting capacity for aluminium die casting and machining components.
2 To meet working capital requirements ₹30 Cr
The company intends to meet additional working capital requirements arising from business expansion. The major capital will be invested in trade receivables, inventories and payment to trade payables and funding day to day operations.
3 General Corporate Purpose —
The company will have flexibility in utilizing the proceeds for general corporate purposes including meeting operating expenses, initial development costs for projects, strengthening business development and marketing capabilities, meeting exigencies, and other purposes as approved by the Board of Directors.
1 of 3 objects carry no stated amount — typically general corporate purposes, funded from whatever remains — so the total above is the quantified portion only, not the whole issue.
About Poojaa Precision Engg.
Poojaa Precision Engg. Limited (formerly Pooja Castings Pvt. Ltd.) was incorporated on August 12, 1992, and is engaged in the manufacturing of aluminium die casting and machining components for use in the automotive sector (including electric vehicle applications) and the non-automotive sector (agriculture, defence, energy, healthcare). The company operates integrated manufacturing capabilities including melting units, casting lines supporting gravity die casting (GDC), low-pressure die casting (LPDC), high-pressure die casting (HPDC), and machining capabilities for component finishing. As on the date of this Prospectus, the company has over 600 SKUs and endeavours to provide customers with integrated solutions covering design, engineering, melting, casting, cleaning, and value-added processes including machining, assembly and related engineering services. The company has experienced consistent growth, with revenue from operations increasing from ₹17,372.22 lakhs in FY 2023-24 to ₹29,385.54 lakhs in FY 2025-26.
Management
Anil Shivajirao Kulkarni
CEO
Sanket Anil Kulkarni
MD
Rahul Sohanlal Ranka
COO
Vaishali Dakshendra Agrawal
Director
Arvind Sadashiv Mokashi
Director
Viren Ajit Joshi
Director
Gautam Pradyot Doshi
Director
Bhavya Dakshendra Agrawal
CFO
Shalaka Satish Khandelwal
Director of Operations
Amol Ramesh Sakhare
Director of Operations
Dattatray Dnyandeo Kumbhar
CTO
Deepak Pandurang Survase
Director of Operations
Ravi Agrawal
VP of Sales
Ravindrakumar Ghogare
Director of HR
Ravindra Rameshrao Hivarekar
Director
Shashikant Anandrao Dalavi
Director of Operations
Shekhar Sharadchandra Dravid
Director
Subha Charan Nukathoti
VP of Sales
Strengths
As stated in the offer document
Integrated manufacturing capabilities
The company operates two manufacturing facilities in Pune with melting capacity of 13,800 MT and casting capacity of 6,000 MT, achieving 80% melting utilization and 84% casting utilization in FY 2025-26.
Design capabilities with emphasis on customer specifications & quality standards
The company has in-house design and engineering capabilities with 17 employees equipped with advanced software tools, enabling reverse engineering solutions and maintaining ISO certifications.
Diverse customer base with sustained, long-standing relationships
The company's customer base increased from 39 customers in Fiscal 2024 to 58 customers in Fiscal 2026, with top 10 customers contributing 88.64% of total sales in FY 2026.
Offering precision engineering solutions with a comprehensive product portfolio
The company manufactures over 600 SKUs across automotive, EV, and non-automotive sectors using GDC, LPDC, and HPDC processes with integrated melting to finishing capabilities.
Experienced promoters and management team
The company is led by experienced management with Anil Kulkarni having 32 years experience, Sanket Kulkarni with 16 years, and Rahul Ranka with 25 years in precision engineering sectors.
Track record of consistent revenue growth and profitability
The company achieved revenue growth from Rs. 17,372.22 lakhs in FY 2024 to Rs. 29,385.54 lakhs in FY 2026 at 30.06% CAGR with profit growth at 38.53% CAGR.
Risk factors
As stated in the offer document
Dependence on Limited Key Customers and OEMs
The company derives more than 70% of its revenue from operations from the top five customers during the last 3 fiscal years, with Customer 1 alone contributing 31.75% in FY 2026. The company generally does not enter into long-term purchase agreements and relies on purchase orders that may be cancelled unilaterally, creating significant revenue concentration risk.
Raw Material Cost Volatility and Supply Dependency
The company's cost of material consumed forms a significant portion of total expenses, with Aluminium comprising 72.43% of raw material consumed in FY 2026. The company procures raw materials from third parties without firm commitments and is exposed to commodity price fluctuations, particularly aluminium prices.
Automotive Sector Concentration Risk
A significant portion of the company's revenue (72.58% in FY 2026) is attributable to the automotive sector. Any adverse changes in the automotive sector, including shifts to electric vehicles or regulatory changes, could adversely impact business operations and financial condition.
Environmental, Health and Safety Compliance Risks
The company is subject to stringent environmental, health and safety laws with inherent operational risks including explosions, fires, and hazardous substance releases. Any violations, accidents, or operational hazards could result in material liabilities, regulatory sanctions, and reputational harm.
Expansion Plan Implementation Risks
The company's proposed expansion plans for manufacturing facilities in Pune are subject to risks of unanticipated delays and cost overruns. The company has limited prior experience in magnesium casting and faces risks relating to technology stabilisation, process optimisation, and customer acceptance.
Capital Intensive Operations and Financing Requirements
The company has substantial capital expenditure requirements with additions to property, plant and equipment of ₹2,525.18 lakhs in FY 2026. The business requires significant working capital financing and may need additional financing that could increase debt obligations or dilute existing shareholdings.
Missing Historical Corporate Records
The company cannot trace certain historical and statutory corporate records, including filings with the Registrar of Companies relating to allotments, appointments, and financial statements. This may expose the company to regulatory actions and limit ability to substantiate corporate actions in legal proceedings.
Outstanding Financial Indebtedness and Demand Facilities
As of June 30, 2026, the company had total outstanding financial indebtedness of ₹7,082.56 lakhs. Some borrowings including cash credit facilities are repayable on demand, and any unexpected demand for repayment could adversely affect business and financial condition.
Company Analysis
from DRHPPoojaa Precision Engg. Limited is a precision engineering and aluminium die casting manufacturer serving the automotive, electric vehicle, and non-automotive sectors across multiple industries.
Poojaa Precision Engg. Limited (formerly Pooja Castings Pvt. Ltd.) was incorporated on August 12, 1992, and is engaged in the manufacturing of aluminium die casting and machining components for use in the automotive sector (including electric vehicle applications) and the non-automotive sector (agriculture, defence, energy, healthcare). The company operates integrated manufacturing capabilities including melting units, casting lines supporting gravity die casting (GDC), low-pressure die casting (LPDC), high-pressure die casting (HPDC), and machining capabilities for component finishing. As on the date of this Prospectus, the company has over 600 SKUs and endeavours to provide customers with integrated solutions covering design, engineering, melting, casting, cleaning, and value-added processes including machining, assembly and related engineering services. The company has experienced consistent growth, with revenue from operations increasing from ₹17,372.22 lakhs in FY 2023-24 to ₹29,385.54 lakhs in FY 2025-26.
Objects of the Issue
- Funding capital expenditure towards setting up of manufacturing facility at Gat No. 382, 383, 386, 387, 312 Village, Tal. - Khed, Dist. - Pune – 410501, India ₹10,633.59 lakhs p.89
- To meet working capital requirements ₹3,000.00 lakhs p.89
- General Corporate Purpose ₹357.62 lakhs p.89
Issue Structure
- Total Issue
- ₹15,983.10 lakhs (53,10,000 Equity Shares at ₹301 per share)
- Fresh Issue
- 53,10,000 Equity Shares of face value ₹10 each at ₹301 per share (100% fresh issue, no OFS)
- Offer for Sale
- Nil - Entire issue constitutes fresh issue of equity shares
- Price Band
- Floor Price: ₹285 per share, Cap Price: ₹301 per share
- Lot Size
- Bid Lot: 800 Equity Shares and multiples of 400 thereafter
- Face Value
- ₹10 per Equity Share
Business Model
The company earns revenue through the sale of precision-engineered aluminium die casting and machining components. It operates through an integrated manufacturing model spanning melting, casting (GDC, LPDC, HPDC), machining, and value-added assembly services. The company derives over 70% of its revenue from a concentrated customer base of top five customers, with primary revenue coming from the automotive sector (commercial vehicles 50.88%, passenger vehicles 14.80%), EV sector (9.81% combined for 3-wheeler and 4-wheeler EVs), and non-automotive sectors (energy 10.53%, agriculture 2.75%). The company manufactures components on a bespoke basis according to customer specifications rather than for standardized open-market sale.
Business Segments
SWOT Analysis
- • Integrated manufacturing capabilities with multiple casting technologies (GDC, LPDC, HPDC)(p.92)
- • Diverse customer base spanning automotive and non-automotive sectors including EV applications(p.92)
- • Strong revenue growth trajectory with CAGR of 30.3% from FY2024 to FY2026(p.44)
- • High profitability with PAT growing at CAGR of 38.58% from FY2024 to FY2026(p.116)
- • Experienced management with track record in die casting and precision components(p.43)
- • Broad product portfolio with over 600 SKUs including safety-critical components(p.92)
- • Strong return metrics with ROE of 28.18% and ROCE of 26.38% in FY2026(p.113)
- • Heavy reliance on top 5 customers accounting for over 70% of revenue(p.26)
- • Lack of long-term firm commitments with customers(p.26)
- • Significant dependence on aluminium as raw material with 72.43% of raw material consumed in FY2026(p.26)
- • No long-term contracts with suppliers, reliance on purchase orders(p.26)
- • Significant working capital requirements with trade receivables at 64 days in FY2026(p.106)
- • Geographic concentration with 60.64% of revenue from Maharashtra in FY2026(p.39)
- • Historical non-compliance with statutory provisions and delayed filings(p.31)
- • Limited prior experience of some promoters in die casting business(p.44)
- • Expansion of manufacturing capacity through new facilities with 15,000 MTPA melting capacity(p.29)
- • Entry into magnesium casting as a new product segment(p.29)
- • Growing electric vehicle market with revenue from EV sector growing to 9.81% of total in FY2026(p.27)
- • Rising demand in non-automotive sectors including energy and agriculture(p.27)
- • Government support for automotive manufacturing through FAME scheme and PLI incentives(p.116)
- • Export opportunity with export revenue at 0.84% of total in FY2026(p.39)
- • Automotive industry cyclicality and dependence on vehicle sales(p.27)
- • Significant volatility in raw material prices, particularly aluminium(p.26)
- • Intense competition from domestic and global players with better resources(p.33)
- • Risk of supply chain disruptions impacting operations(p.37)
- • Environmental and health/safety regulatory compliance requirements(p.28)
- • Dependence on retention of skilled labour and potential wage inflation(p.35)
- • Risk of technology obsolescence and need for continuous innovation(p.40)
- • Global economic slowdown risks with potential impact on demand(p.121)
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Anil Shivajirao Kulkarni | Promoter | 6.84% | 5.02% |
| Jayshree Anil Kulkarni | Promoter | 26.65% | 19.55% |
| Sanket Anil Kulkarni | Promoter | 2.06% | 1.51% |
| Rahul Sohanlal Ranka | Promoter | 25.11% | 18.42% |
| Bhavya Financial Services Private Limited | Corporate Promoter | 21.98% | 16.13% |
| Vaishali Dakshendra Agrawal | Promoter | — | — |
Leadership
Auto-extracted from the company's DRHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official DRHP before relying on it.