Bench Mark Infotech IPO

Bench Mark Infotech Services, incorporated in Kolkata in January 2007, builds and maintains the physical technology layer that offices, campuses and public buildings run on. It designs, supplies, installs, commissions and maintains local and wide-area networks, structured cabling, wireless systems, CCTV and access control, audio-visual and smart-classroom setups, and equipment enclosures. More recently it added data storage and data-centre work, cloud services, cybersecurity products such as firewalls and endpoint security, and AI lab build-outs. It also lays and leases fibre optic lines, including trenching and ducting. Most work is won on tender from government departments, public sector undertakings and state institutions, mainly in Bihar, Odisha, West Bengal and Jharkhand. It is empanelled with BSNL as a national-level system integrator and with RailTel as a business partner, and employed 54 people on 30 June 2026.

Revenue comes from project contracts won through competitive tendering — 14 successful bids in FY26 — plus annual maintenance contracts and fibre leasing. Bench Mark buys hardware from OEMs and integrates it, so cost sits in bought-in goods: purchases of stock-in-trade were ₹2,231.97 lakhs and direct expenses ₹2,097.52 lakhs against ₹6,052.76 lakhs of operating revenue in FY26, with employee cost only ₹318.51 lakhs and an EBITDA margin of 23.23%. The constraint is cash, not margin: government buyers supplied 73.10% of FY26 revenue, the top ten customers 94.19%, and trade receivables of ₹5,497.96 lakhs equalled 90.83% of operating revenue, with ₹1,017.21 lakhs over a year old. The order book was about ₹1,217 lakhs on 15 September 2026.