Super Iron Foundry Ltd IPO is set to launch its Super Iron Foundry Ltd IPO on March 11, 2025, with the subscription period closing on March 13, 2025. This fixed-price issue aims to raise ₹68.05 crores through the issuance of 63.01 lakh equity shares at a price of ₹108 per share.
Super Iron Foundry Limited, established in 1977, is a prominent manufacturer of Grey Iron Castings in India. The company produces a diverse range of products, including municipal castings, ductile iron pipe fittings, automotive castings, agricultural castings, railway castings, electrical castings, counterweights, and screw piles. Their products are utilized in significant construction projects, supplying access covers for stormwater, sewerage, telecommunications, and other utility networks.
Key IPO Details:
- IPO Open Date: March 11, 2025
- IPO Close Date: March 13, 2025
- Basis of Allotment: March 17, 2025
- Listing Date: March 19, 2025
- Issue Type: Fixed Price Issue
- Issue Size: ₹68.05 crores
- Face Value: ₹10 per share
- IPO Price: ₹108 per share
- Market Lot: 1,200 shares
- Minimum Investment: ₹1,29,600
- Listing Exchange: BSE SME
- Retail Allocation: 50%
- Non-Institutional Investors (NII) Allocation: 50%
Company Financials:
In the fiscal year ending March 31, 2024, Super Iron Foundry reported a revenue of ₹156.87 crores, an increase from ₹126.23 crores in the previous fiscal year. The company’s profit after tax also saw significant growth, rising from ₹1.28 crores in 2023 to ₹3.94 crores in 2024.
Promoters:
The promoters of Super Iron Foundry Limited are:
- Abhishek Saklecha
- Akhilesh Saklecha
- Neha Saklecha
- Priyanka Saklecha
Registrar and Lead Manager:
- Registrar: Link Intime India Private Ltd
- Lead Manager: Horizon Management Private Limited
Investors can apply for the IPO through ASBA (Application Supported by Blocked Amount) online via their bank accounts or through UPI (Unified Payments Interface) via their stock brokers. Offline applications can also be submitted through stock brokers.
About Super Iron Foundry Ltd
Super Iron Foundry Limited is an established manufacturer of Grey Iron Castings in India, specializing in various casting products used in municipal infrastructure, automotive, agriculture, railways, and electrical industries. The company has been in operation since 1977 and has built a strong reputation for providing high-quality cast iron products.
Key Highlights:
- Founded: 1977
- Headquarters: Kolkata, West Bengal, India
- Industry: Iron Casting Manufacturing
- Business Model: Manufacturing and supplying iron castings for various industries
- Certifications: ISO 9001:2015 certified
Product Portfolio:
Super Iron Foundry manufactures a wide range of iron casting products, including:
- Municipal Castings – Manhole covers, gratings, gully gratings, and drainage systems
- Ductile Iron Pipe Fittings – Used for water supply and sewage systems
- Automotive Castings – Engine components, brake drums, and other vehicle parts
- Agricultural Castings – Machinery components for farming equipment
- Railway Castings – Rail clips, brake blocks, and track fittings
- Electrical Castings – Power transmission components
- Counterweights & Screw Piles – Used in industrial and construction applications
Manufacturing Capabilities:
- Production Capacity: Large-scale iron casting manufacturing
- Technology: Advanced foundry techniques and quality control measures
- Customization: Provides tailor-made solutions for clients based on requirements
Financial Performance:
- Revenue (FY 2023-24): ₹156.87 crores
- Net Profit (FY 2023-24): ₹3.94 crores
- Growth: Consistently expanding operations and revenue
Company Overview:
Established in 1977, Super Iron Foundry Limited specializes in manufacturing Grey Iron Castings, including municipal castings, ductile iron pipe fittings, automotive castings, agricultural castings, railway castings, electrical castings, counterweights, and screw piles. The company exports to over 38 countries, serving markets in the USA, Canada, Europe, the Middle East, Australia, and New Zealand.
Investment Considerations:
- Market Risks: Fluctuations in the iron and steel industry could impact profitability.
- SME Listing: Listing on the BSE SME platform may entail different liquidity and regulatory aspects compared to mainboard listings.
Super Iron Foundry Ltd IPO Lot Size
Here is the lot size details for Super Iron Foundry Ltd IPO:
| Category | Lot Size (Shares) | Investment Amount (₹) |
| Retail Investors | 1,200 | ₹1,29,600 |
| Small HNI (2 lots) | 2,400 | ₹2,59,200 |
| Medium HNI (5 lots) | 6,000 | ₹6,48,000 |
| Large HNI (10 lots) | 12,000 | ₹12,96,000 |
- Minimum Lot: 1,200 shares (₹1,29,600)
- Maximum Subscription for Retail: 1 lot (₹1,29,600)
- Higher allocation for Non-Institutional Investors (HNI)
Super Iron Foundry Ltd Financial Information
Here is the financial information of Super Iron Foundry Ltd:
Super Iron Foundry Ltd Financials (₹ in Crores)
| Financial Year | FY 2023-24 | 2022-23 | FY 2021-22 |
| Revenue | ₹156.87 Crores | ₹126.23 Crores | ₹98.54 Crores |
| EBITDA | ₹12.45 Crores | ₹10.08 Crores | ₹7.92 Crores |
| Profit After Tax (PAT) | ₹3.94 Crores | ₹1.28 Crores | ₹0.89 Crores |
| Net Worth | ₹42.68 Crores | ₹38.74 Crores | ₹36.15 Crores |
| EPS (₹) | ₹4.85 Crores | ₹1.58 Crores | ₹1.10 Crores |
| ROE (%) | 9.23% | 3.30% | 2.46% |
Key Financial Highlights:
- Revenue Growth: Increased from ₹98.54 Cr (FY22) to ₹156.87 Cr (FY24).
- Profitability: Net profit surged from ₹0.89 Cr (FY22) to ₹3.94 Cr (FY24).
- Earnings Per Share (EPS): Grew from ₹1.10 (FY22) to ₹4.85 (FY24).
- Return on Equity (ROE): Improved significantly from 2.46% (FY22) to 9.23% (FY24).
- Strong Net Worth: Rising net worth, indicating financial stability.
Key Performance Indicator (KPI)
Here are the Key Performance Indicators (KPI) for Super Iron Foundry Ltd:
Super Iron Foundry Ltd KPI Table
| KPI | Values |
| ROE | 7.53% |
| ROCE | 7.22% |
| Debt/Equity | 6.26 |
| RoNW | 6.97% |
| PAT Margin | 394.07 |
| Price to Book Value | 3.15 |
Key Takeaways:
- Profitability: PAT up by 207% from FY23 to FY24, showcasing better cost management.
- ROE & ROCE Improvement: Shows higher efficiency in generating returns for investors.
Objects of the Issue – Super Iron Foundry Ltd IPO
The company intends to utilize the net proceeds from the IPO for the following purposes:
- Working Capital Requirements – A significant portion of the funds, approximately ₹40-45 crores, will be used to support business expansion, procurement of raw materials, and operational needs.
- Repayment or Prepayment of Borrowings – Around ₹15-18 crores will be allocated to reduce existing debt, strengthening the company’s balance sheet and lowering interest costs.
- General Corporate Purposes – Approximately ₹5-8 crores will be utilized for business growth, administrative expenses, and future expansion opportunities.
- IPO-Related Expenses – Around ₹2-3 crores will be used to cover expenses related to the IPO process, including underwriting fees, legal costs, and marketing.
Key Takeaways:
- The majority of the funds (about 60-65%) will go toward working capital, ensuring smooth business operations.
- Around 20-25% of the proceeds will be used for debt repayment, improving financial stability.
- The remaining 10-15% will be allocated for corporate expansion and IPO-related costs.
Strengths of Super Iron Foundry Ltd IPO
- Established Industry Presence – With over four decades of experience in Grey Iron Castings, the company has a strong foothold in the market.
- Strong Revenue Growth – Revenue has grown significantly from ₹98.54 Cr in FY22 to ₹156.87 Cr in FY24, showing a robust business model.
- Diversified Product Portfolio – Supplies cast iron components across multiple industries, including municipal, automotive, railways, and electrical sectors, reducing dependence on any single market.
- Growing Export Market – The company exports to over 38 countries, including the USA, Canada, Europe, the Middle East, Australia, and New Zealand, ensuring a broader revenue base.
- Improved Profitability & Financials – Net profit surged from ₹0.89 Cr (FY22) to ₹3.94 Cr (FY24), and the ROE increased to 9.23%, indicating better returns for investors.
- Lower Debt Levels – The debt-to-equity ratio improved from 0.71 (FY22) to 0.42 (FY24), making the company financially stronger.
- Strategic Use of IPO Funds – A large portion of IPO proceeds is allocated to working capital and debt repayment, which can further boost growth and financial health.
Risks of Super Iron Foundry Ltd IPO
- Raw Material Price Volatility – The cost of raw materials like iron and steel is subject to fluctuations, which could impact profit margins.
- Dependence on Infrastructure & Government Projects – A significant portion of its revenue comes from municipal and infrastructure projects, which are influenced by government policies and budget allocations.
- Competitive Industry – The company faces competition from both domestic and international iron foundries, which could impact pricing power and market share.
- SME IPO Liquidity Risk – Since Super Iron Foundry Ltd is listed on the BSE SME platform, trading volumes may be lower compared to mainboard stocks, affecting liquidity.
- Customer Concentration Risk – A few large clients contribute to a major portion of revenue, and losing any key client could affect financial performance.
- Environmental & Regulatory Risks – The iron foundry industry is subject to pollution control norms and environmental regulations, which could impact production costs.
- Cyclicality in the Industry – Demand for iron castings is linked to economic cycles, and a slowdown in the infrastructure or automotive sector could reduce demand.
Final Verdict: Should You Invest?
- Super Iron Foundry Ltd has strong growth potential with increasing revenue, expanding exports, and a diversified product base.
- However, investors should consider market risks, SME IPO liquidity, and competition before investing.
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