🗓️ Timeline (So Far & Expected)
| Event | Date / Status | Notes / Source |
|---|---|---|
| DRHP (Draft Red Herring Prospectus) filed / public disclosure | 31 March 2025 | The company filed DRHP on this date. |
| IPO open date (expected) | 7 October 2025 (tentative) | One news source reports that the IPO will open on 7 Oct 2025. |
| IPO close date (expected) | 9 October 2025 (tentative) | That same source suggests closing on 9 Oct 2025. |
| Allotment date (expected) | 10 October 2025 (tentative) | Allotment is expected one day after closing. |
Key Facts
| Item | Details |
|---|---|
| Company | Mittal Sections Limited |
| Business | Manufacturer of mild steel sections and structural steel products (MS Flats, Round Bars, Angles, Channels). Operates in Ahmedabad, Gujarat. |
| Issue Type | SME IPO, Book-Built Issue on BSE SME exchange |
| Pre-Issue Promoter Holding | 99.92% |
| Number of Shares Offered in IPO | 37,00,000 shares |
| Face Value per Share | ₹10 each |
Company Details
| Detail | Information |
|---|---|
| Name / CIN | Mittal Sections Limited, CIN: U27109GJ2009PLC056527 |
| Incorporation Date | 2 April 2009 |
| Registered Office | 01, Sona Roopa Apartment, Opp. Lal Bunglow, C.G. Road, Navrangpura, Ahmedabad, Gujarat – 380009 |
| Authorized Share Capital | ₹12.00 Crore |
| Paid-up Share Capital | ~ ₹7.87 Crore |
| Promoters / Major Shareholders (pre-IPO) | Mr. Ajaykumar Balwantrai Mittal; Mr. Atul Balwantrai Mittal; Well Plan Tradelink Pvt. Ltd. |
| Promoter Pre-Issue Holding | ~ 99.92% of equity pre-IPO |
| Nature of Business | Manufacturer of mild steel sections and structural steel products: MS flats, round bars, angles, channels etc. |
| Manufacturing Facilities / Capacity | Two plants in Changodar, Ahmedabad, Gujarat; installed capacity ~ 36,000 metric tons per annum, with plans to expand towards ~96,000 MTPA. |
| Certifications / Quality Standards | Products made to BIS / IS standards, especially IS 2062:2011. |
Financials
These numbers are per the DRHP / restated financials in the IPO documents. All amounts in ₹ Crores unless specified.
| Metric | As of 31 Mar 2022 | FY 2023 | FY 2024 | For 6-months ended 30 Sep 2024* |
|---|---|---|---|---|
| Revenue | ~ ₹149.35 cr | ₹167.53 cr | ₹161.65 cr | ₹ 68.97 cr |
| Profit After Tax (PAT) | ~ ₹0.60 cr (2022) | ₹0.56 cr (2023) | ₹1.89 cr (2024) | ₹2.41 cr (6-months ended Sep 2024) |
| Net Worth / Equity | ~ ₹4.28 cr (2022) | ~ ₹4.84 cr (2023) | ~ ₹6.73 cr (2024) | ~ ₹9.14 cr (as of Sep-2024) |
| Total Borrowings / Debt | ₹13.54 cr (2022) | ₹20.39 cr (2023) | ₹15.00 cr (2024) | ₹12.99 cr (Sep-2024) |
Financial Ratios & Insights
Some performance indicators from IPO materials:
- Return on Equity (ROE): ~ 28.13%
- Return on Capital Employed (ROCE): ~ 42.05%
- Profit Margin (PAT margin): Appears to be low but improving; for FY 2024, PAT margin ~1-2% (given revenue ~ ₹161.65 cr and PAT ~ ₹1.89 cr)
- Debt-to-Equity: The debt levels are non-trivial compared to net worth (for example, borrowing ~ ₹15.00 cr vs net worth ~ ₹6.73 cr in FY 2024) which implies gearing is high.
Opportunities & Risks
Opportunities:
- Capacity expansion: Plans to increase from 36,000 MTPA to ~96,000 MTPA provides potential for scale and higher revenues.
- Infrastructure / construction demand: Steel structural products are closely tied to construction / infrastructure, which is generally a growing sector in India.
- Brand / Quality certifications help in getting institutional contracts and premium clients.
Risks:
- Low profitability margins: While revenue is substantial, the net margins have been small, which means any cost inflation (raw materials, power, etc.) or adverse market movement can affect profits severely.
- High leverage: Debt is significant compared to equity; interest costs or repayment schedules may pressure cash flows.
- Industry volatility: Steel is cyclical; demand, input costs (iron, coal, energy) fluctuate; also competition is intense.
- Dependence on capacity utilization: With expansion, getting full utilization is key; idle capacity can drag returns.
📌 Mittal Sections Ltd. IPO – FAQs
1. What does Mittal Sections Ltd. do?
Mittal Sections Ltd. is a Gujarat-based company engaged in manufacturing mild steel (MS) sections and structural steel products such as MS Flats, Angles, Channels, and Round Bars.
2. When was the company incorporated?
The company was incorporated on 2 April 2009 in Ahmedabad, Gujarat.
3. On which exchange will the IPO be listed?
The IPO will be listed on the BSE SME platform.
4. What is the issue type of the IPO?
It is a Book-Built Issue SME IPO.
5. What is the face value of the shares?
The face value is ₹10 per share.
6. What is the lot size for Mittal Sections Ltd. IPO?
The lot size will be declared with the price band; generally, SME IPOs have a lot size of 1,200–1,600 shares per lot.
7. What is the IPO issue size?
The company plans to issue around 37,00,000 equity shares. Final issue size in rupees depends on the price band.
8. Who are the promoters of the company?
Promoters are Mr. Ajaykumar Balwantrai Mittal, Mr. Atul Balwantrai Mittal, and Well Plan Tradelink Pvt. Ltd.
9. What is the promoter holding before the IPO?
Promoters collectively hold about 99.92% of the company’s equity shares before the IPO.
