Tankup Engineers Limited, a Lucknow-based company specializing in manufacturing specialized vehicle superstructures for complex mobility and storage solutions, is launching its Tankup Engineers Limited IPO on the NSE EMERGE platform.
IPO Details
- Opening Date: April 23, 2025
- Closing Date: April 25, 2025
- Basis of Allotment: April 28, 2025
- Initiation of Refunds: April 29, 2025
- Credit of Shares to Demat Accounts: April 29, 2025
- IPO Listing Date: April 30, 2025
- Price Band: ₹133 – ₹140 per share
- Lot Size: 1,000 shares (minimum investment of ₹1,40,000)
- Total Issue Size: 13,95,000 equity shares, aggregating to ₹18.55 – ₹19.53 crore
- Issue Type: 100% fresh issue
- Face Value: ₹10 per share
- Retail Allocation: 35% of the issue
- Listing Platform: NSE EMERGE
- Registrar: Bigshare Services Private Limited
- Book Running Lead Manager (BRLM): Hem Securities Limited
Who is the Owners of Tankup Engineers?
Tankup Engineers Limited is promoted and owned by a group of individuals and an LLP (Limited Liability Partnership) with direct involvement in the company’s operations and strategic direction. The key owners are:
- Gaurav Lath – He is one of the main promoters of the company. Gaurav has a significant background in engineering and management and is actively involved in the leadership and decision-making processes of Tankup Engineers. He plays a vital role in the technical and operational execution of the company’s projects.
- Pankhuri Lath – Another key promoter, Pankhuri is likely involved in the administrative and strategic side of the business. Her role may extend to business development and internal management, supporting the company’s growth and outreach.
- Govind Prasad Lath – A senior promoter, Govind Prasad brings experience and likely serves in an advisory or executive capacity. His involvement adds depth and guidance to the leadership team.
- Tank-Up Petro Ventures LLP – This is the corporate promoter of Tankup Engineers. It holds a significant stake in the company and is closely tied to the operations of Tankup. The LLP may also be owned or co-managed by the individual promoters, functioning as a holding or investment entity supporting the company’s expansion.
These promoters have collectively shaped the company’s vision, with a focus on specialized vehicle solutions for industrial applications like mobile refueling, water tankers, and other engineering superstructures.
Tankup Engineers IPO Lot Size
Here are the lot size details for the Tankup Engineers Limited IPO:
| Investor Category | Lot Size (Shares) | Investment Amount (₹) |
|---|---|---|
| Retail (Minimum) | 1,000 | ₹1,40,000 |
| Retail (Maximum) | 1,000 | ₹1,40,000 |
| S-HNI (Minimum) | 2,000 | ₹2,80,000 |
Each lot comprises 1,000 equity shares, and the price band is set at ₹133 to ₹140 per share. Therefore, the minimum investment amount for retail investors is ₹1,40,000.
About Tankup Engineers Limited
Tankup Engineers Limited is a Lucknow-based company specializing in the design and manufacture of specialized vehicle superstructures and mobile storage solutions.
Established on November 3, 2020, the company has rapidly grown to serve various industries by providing customized solutions for complex mobility and storage needs.
Business Overview:
Tankup Engineers focuses on fabricating large containers and tank-like structures used for transporting and storing liquids, gases, or solids. These products are tailored to specific client requirements regarding size, material, capacity, and features.
The company’s offerings include mobile refuellers, water sprinklers, mobile service vans, explosive vans, tank trucks, and blasting shelters. These solutions cater to industries such as petroleum, mining, infrastructure, and defense, especially in remote locations where access to essential resources is limited.
Financial Performance:
In the financial year ending March 31, 2024, Tankup Engineers reported a revenue of ₹19.42 crore and a Profit After Tax (PAT) of ₹2.57 crore. The company has shown significant growth, with its EBITDA increasing by over 1,362% compared to the previous year.
Company Overview
Tankup Engineers Limited focuses on fabricating mobile solutions such as mobile refuellers, water sprinklers, mobile service vans, explosive vans, tank trucks, and blasting shelters. These products cater to industries like petroleum, mining, infrastructure, and defense, especially in remote locations where access to essential resources is limited.
Tankup Engineers Limited Financial Information
| Period Ended | 30 Nov 2024 | 31 Mar 2024 | Mar 31 2023 | 31 Mar 2022 |
| Assets | 17.67 | 10.35 | 8.68 | 2.32 |
| Revenue | 12.48 | 19.54 | 11.85 | 1.4 |
| Profit After Tax | 0.95 | 2.57 | 0.79 | 0.05 |
| Net Worth | 6.17 | 3.68 | 1.11 | 0.2 |
| Reserves and Surplus | 2.27 | 3.43 | 0.86 | 0.05 |
| Total Borrowing | 7.59 | 3.69 | 2.57 | 1.42 |
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 107.11% |
| ROCE | 46.49% |
| Debt/Equity | 1.00 |
| RoNW | 69.75% |
| PAT Margin | 13.23 |
| Price to Book Value | 10.46 |
Objects of the Issue
The Objects of the Issue for the Tankup Engineers Limited IPO are outlined in the company’s Draft Red Herring Prospectus (DRHP). The funds raised through the IPO will be utilized for the following purposes:
- Repayment or Prepayment of Borrowings: The company intends to use a portion of the IPO proceeds to repay or prepay certain outstanding borrowings, thereby reducing its debt burden.
- Funding Working Capital Requirements: A portion of the funds will be allocated to meet the company’s working capital requirements, supporting its day-to-day operations and business growth.
- General Corporate Purposes: The remaining funds will be utilized for general corporate purposes, which may include business expansion, capital expenditures, and other corporate needs.
These objectives are aimed at strengthening the company’s financial position and supporting its growth initiatives.
Tankup Engineers Limited IPO Growth
Certainly! Here’s a detailed overview of the growth trajectory of Tankup Engineers Limited over the past three fiscal years:
Financial Performance Overview
| Fiscal Year | Revenue (₹ Cr) | Net Profit (₹ Cr) | EBITDA Margin | Return on Equity (ROE) | Return on Capital Employed (ROCE) |
|---|---|---|---|---|---|
| FY 2022 | 1.40 | 0.05 | 5.82% | 23.44% | 3.89% |
| FY 2023 | 11.81 | 0.79 | 10.77% | 70.80% | 30.30% |
| FY 2024 | 19.42 | 2.57 | 17.84% | 69.75% | 46.49% |
Key Growth Highlights
- Revenue Growth: From ₹1.40 crore in 2022 to ₹19.42 crore in 2024, reflecting a compound annual growth rate (CAGR) of approximately 64.4%.
- Profitability Improvement: Net profit increased from ₹0.05 crore in 2022 to ₹2.57 crore in 2024, indicating a robust growth in profitability.
- Operational Efficiency: EBITDA margin improved from 5.82% in 2022 to 17.84% in 2024, showcasing enhanced operational efficiency.
- Return Ratios: Return on Equity (ROE) and Return on Capital Employed (ROCE) have remained strong, reflecting effective utilization of shareholders’ equity and capital.
Financial Ratios
| Metric | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Debt-to-Equity Ratio | 7.22 | 2.30 | 1.00 |
| Earnings Per Share (EPS) | ₹0.30 | ₹2.97 | ₹9.34 |
| Price-to-Earnings (P/E) Ratio | N/A | 14.24–14.99 | N/A |
Conclusion
Tankup Engineers Limited has demonstrated significant growth in revenue, profitability, and operational efficiency over the past three fiscal years. The company’s strong financial performance positions it well for future expansion and value creation.
Strengths of Tankup Engineers Limited IPO
- Robust Financial Growth: Tankup Engineers has demonstrated significant year-on-year growth in revenue and profitability. For instance, the company’s revenue increased from ₹1.40 crore in 2022 to ₹19.42 crore in 2024, reflecting a substantial upward trajectory.
- Diverse Clientele: The company caters to a wide range of industries, including petroleum, mining, infrastructure, and defense.
- Experienced Management: The promoters, Gaurav Lath, Pankhuri Lath, Govind Prasad Lath, and Tank-Up Petro Ventures LLP, bring a wealth of experience and expertise, which is crucial for the company’s strategic direction and growth.
- Strong Order Book: As of July 31, 2024, the company had an outstanding order book of ₹17.86 crore, indicating a healthy demand for its products and services.
Risks of Tankup Engineers Limited IPO
- Debt Levels: The company has a relatively high debt-to-equity ratio, which could pose financial risks, especially in times of economic downturns or if the company faces challenges in meeting its debt obligations.
- Dependence on Key Personnel: The company’s success is closely tied to the expertise and leadership of its promoters. Any unforeseen circumstances affecting these individuals could impact the company’s operations and performance.
- Market Competition: The specialized vehicle manufacturing sector is competitive, with several players vying for market share. Intense competition could affect the company’s pricing power and profitability.
- Regulatory Risks: Being involved in sectors like defense and infrastructure, the company is subject to various regulations and compliance requirements. Any changes in these regulations could impact its operations and profitability.
Investors should carefully consider these factors and conduct thorough due diligence before participating in the IPO.
Tankup Engineers Limited Contact Details
Certainly! Here are the contact details for Tankup Engineers Limited:
- Registered Office Address: 1262, SA Goila, Chinhat, Lucknow – 226019, Uttar Pradesh, India
- Factory Address: 1028, Goyala Industrial Area, Dewa Road, Chinhat, Lucknow – 226019, Uttar Pradesh, India
- Email Address: cs@tankup.co.in
- Website: www.tankup.co.in
Tankup Engineers IPO Registrar
The Registrar to the Issue for the Tankup Engineers Limited IPO is Bigshare Services Private Limited.
Contact Details:
- Phone: +91-22-6263 8200
- Website: www.bigshareonline.com
Investors can visit the Bigshare Services website to check IPO allotment status, track refund processing, and address other related queries.
Spinaroo Commercial Limited IPO: Date, Price, GMP & Details
Aten Papers & Foam Limited IPO: Date, Price, Listing & Details
Infonative Solutions Limited IPO Full Details
Disclaimer: The content on this website is intended for informational purposes only and should not be interpreted as financial or investment advice. Engaging in stock market activities involves inherent risks, and outcomes can be unpredictable. While we strive to provide accurate and up-to-date information, we do not make any guarantees regarding the completeness or reliability of the content. Any investment decisions you make should be based on your own research and consultation with a qualified financial professional. We are not responsible for any financial gains or losses resulting from actions taken based on the information provided here. Always invest wisely and at your own risk.
