Neetu Yoshi SME: Check IPO Date, Live Subscription and Key Details
Established in January 2020, Neetu Yoshi Limited is a foundry with an integrated CNC machine shop that manufactures customized ferrous metallurgical products. Their product portfolio includes various grades of mild steel, spheroidal graphite iron, cast iron, and manganese steel, with finished products ranging from 0.2 kg to 500 kg. The company primarily caters to Indian Railways, supplying critical safety components like braking solutions, suspensions, traction aids, and coupling devices for trains.
Min Investment
₹120000
Price Range
₹71.00-75.00
Issue Size
₹73.14 Cr
IPO Type
BSE SME
Key Metrics
Check Live GMP
Face Value
₹5
EPS
4.12
P/E Ratio
18.2
RoNW
99.2%
ROE
%
Debt to Equity
0.88
Timeline
IPO Opens
27 Jun
IPO Closes
1 Jul
Allotment
2 Jul
Listing
4 Jul
IPO Objectives
- Setting up of new manufacturing facility.
- General corporate purposes.
Strengths
- Fully equipped and RDSO (Research Designs and Standards Organisation) approved manufacturing facility, allowing the company to supply over 25 critical products for Indian Railways.
- Strategically located manufacturing facility in Uttarakhand, near alloy suppliers and benefiting from lower electricity tariffs, which helps reduce transport and operational costs, enhancing competitiveness.
- Integrated CNC machine shop and comprehensive production capabilities (melting, molding, heat treatment, machining, etc.) enable in-house manufacturing, ensuring quality control, faster delivery, and reduced third-party dependence.
- Diversified product portfolio of over 25 customized ferrous metallurgical products, including mild steel, ductile iron, cast iron, and manganese steel, ranging from 0.2 kg to 500 kg.
- Strong focus on quality assurance and control, evidenced by ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018 certifications for quality, environmental, and occupational health & safety management systems.
Weaknesses
- High customer concentration: The company's revenue primarily depends on the Indian Railways sector, with a significant portion of revenue (up to 99.94% in FY22) from its top 10 customers, mostly linked to Indian Railways. Any slowdown in government investments in railway infrastructure, policy changes, or loss of key railway contracts could severely impact the business.
- Sustainability of sudden profit spurt: The dramatic increase in profit after tax (PAT) from ₹0.42 crore in FY23 to ₹12.58 crore in FY24 (a ~2890% increase) raises eyebrows regarding its sustainability. Such a sharp jump might be due to one-off events or unusual operational efficiencies that may not recur.
- Dependence on raw material availability and stable pricing: The company's operations are highly dependent on the availability and stable pricing of ferrous raw materials. Shortages or significant price fluctuations could negatively impact business, financial performance, and cash flow.
- Strict quality requirements and regulatory approvals: Success relies heavily on meeting stringent quality standards and passing regular inspections (e.g., RDSO approvals). Non-compliance could lead to order cancellations, warranty claims, and reputational damage.
- Working capital intensive business: The manufacturing of metallurgical products typically requires significant working capital for inventory and operations, which could strain cash flow.
Financial Performance
| Period Ended | 31 Dec 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets (₹ Cr.) | 53.16 | 38.5 | 14.63 | 3.08 |
| Revenue (₹ Cr.) | 51.47 | 47.45 | 16.33 | 4.63 |
| PAT (₹ Cr.) | 11.99 | 12.58 | 0.42 | 0.07 |
| Net Worth (₹ Cr.) | 40.14 | 19.74 | 5.57 | 2.69 |
Peer Comparison
| Company | P/B Ratio | P/E Ratio | RONW (%) | Net Worth (₹ Cr.) |
|---|---|---|---|---|
| Neetu Yoshi Limited | 10.29 | 18.2 | 43.74 | 40.14 |
| Gujarat Intrux Ltd. | 2.48 | 15.62 | 15.88 | 61.99 |
| Neclast Limited | 2.34 | 34.59 | 6.74 | 522 |
Subscription Details
Daily Bids Status
| Date | Day 1 | Day 2 | Day 3 |
|---|---|---|---|
| QIB | 0.00x | 0.82x | 96.36x |
| NII | 0.58x | 2.70x | 256.64x |
| RII | 0.91x | 5.72x | 89.29x |
| Total | 0.58x | 3.67x | 127.21x |
Overall Subscription Statistics
| Category | Shares Offered | Shares Bid | Bid Amount (₹ Cr) |
|---|---|---|---|
| QIB | 19,52,000 | 18,80,97,600 | 1,410.73 |
| NII | 14,65,600 | 37,61,28,000 | 2,820.96 |
| RII | 34,14,400 | 30,48,83,200 | 2,286.62 |
| Total | 68,32,000 | 86,91,08,800 | 6,518.32 |
Company Details
- 2/155, Jakhan, Rajpur Road, Dehradun, Uttarakhand-248001, India
- 9258199664
- cs@neetuyoshi.com
- http://www.neetuyoshi.com/
Registrar Details
- Skyline Financial Services Private Ltd
- 02228511022
- ipo@skylinerta.com
- https://www.skylinerta.com/ipo.php