- Price band
- —
- Issue size
- ₹48.83 Cr
- Lot size
- —
- Bidding
- —
- Grey market
- —
100% fresh capital
Listing date to be set
No quote recorded
Market data to 17 Oct 2026. Company figures are as filed, sourced 17 Oct 2026. Every figure’s origin is listed under Sources.
IPOVista score
How this issue scores, and why
Every pillar opens to show the raw metric, the curve it was mapped through, the sub-score and its weight. Disagree with the weighting if you like — the arithmetic is all here.
IPOVista score
Broadly well-balanced
61% of the scoring model was backed by disclosed data for Yogiraj Powertech, giving medium confidence. Weights for anything missing were redistributed rather than scored as zero.
How this score is builtBelow the line: market sentiment. Capped at 8 of 100 points so a hot grey market can tilt a score but never carry one.
Read this before the number
Leveraged balance sheet
Debt-to-equity of 1.6× leaves limited headroom if demand softens or rates rise.
SME platform listing
SME issues trade in larger lot sizes with thinner volumes than mainboard listings, which makes exiting a position harder.
The IPOVista Score is a transparent summary of disclosed fundamentals and issue terms. It is research, not investment advice, and it cannot predict listing performance.
The company
What the business actually does
Founded 2010 · Navi Mumbai, Maharashtra · 86 employees
Yogiraj Powertech is a Navi Mumbai contractor that builds and commissions electrical and mechanical systems for public infrastructure. It takes turnkey engineering, procurement and commissioning contracts covering design, supply, installation, testing and commissioning of power distribution networks, substations, pumping stations, water supply networks and SCADA-based automation. Work is won almost entirely through competitive tendering from state government departments, municipal corporations and public sector undertakings, and is concentrated in Maharashtra and Goa. The company also takes separately awarded operations and maintenance contracts, running and maintaining pumping stations, water installations and the associated electrical and mechanical plant. It served 12 customers in the six months to 30 September 2025 and 15 in FY2025. Headcount at 28 February 2026 was 86 on-roll staff plus 77 skilled and 41 unskilled contract labourers.
Revenue is contract revenue from fixed-price tenders, billed against milestones the client must certify. Materials, equipment and labour are spent up front, so cash sits in work-in-progress and receivables: inventory holding was 390 days and debtor days 66 in FY2025, projected at 355 and 172 days for FY2026. That is the structural constraint, and why Rs 37.23 crore of the Rs 43.73 crore net proceeds is earmarked for working capital. Borrowings have funded the gap so far, at Rs 48.50 crore against Rs 30.64 crore net worth at 31 March 2025. Demand depends on government tendering: the top five customers were 77.14% of FY2025 turnover, and the Rs 79.79 crore unexecuted order book at 21 March 2026 is 96% government.
The company on paper
- Legal name
- Yogiraj Powertech Limited
- IncorporatedThe legal entity is often incorporated years before the brand you know, and may have traded under another name first
- 29 Mar 2010
- CINCorporate Identity Number — the unambiguous handle for looking this company up at the MCA
- U31400MH2010PLC201398
- Sector
- Industrials · Electrical and mechanical EPC for public utilities
- Employees
- 86
- Registered office
- Navi Mumbai, Maharashtra
- Promoters
- Ravindra Ganesh Nene, Rohan Ravindra Nene, Yogesh Ganesh Deshmukh, Prasanna Vinayak Date, Madhura Rohan Nene
- Promoter holding, pre-issue
- 100.0%
- Website
- yogirajpowertech.com
The numbers
Financial performance
Revenue has compounded at 15.8% a year across the 3 reported financial years.
Revenue and profit
Figures in ₹ crore, as reported in the prospectus. Interim quarters are not annualised.
- Revenue
- Profit after tax
Margin trend
Profit and operating margin as a percentage of revenue
- Net margin
- EBITDA margin
Net worth and borrowings
At each period end, in ₹ crore. Gearing below each period is borrowings over net worth, from these same figures.
- Net worth
- Total borrowings
The price
Valuation
Ratios as disclosed in the prospectus, calculated at the upper end of the price band. P/E is always shown on post-issue earnings so issues stay comparable with each other.
No price band has been fixed yet, so there is no multiple to quote
2 listed companies the prospectus names itself
What you pay
Earnings and sales behind one share, and the multiple the band asks for them.
- EPS, pre-issue (FY2025)
- ₹5.19
- EPS, post-issueNot disclosed, so computed from FY2025 profit after tax and the disclosed share count — this is the figure the multiple above is built on
- ₹5.19
- Price / sales
- —
- Net asset value per shareBook value behind one share — a floor, not a target
- ₹19.69
What it earns on what it has
Returns and margins on FY2025. These are the figures that say whether the multiple above is deserved.
- Return on net worthAs disclosed in the prospectus, on its own formula — Indian issuers define RoNW on average net worth, not closing.
- 26.4%
- Return on capital employed
- 44.5%
- EBITDA margin
- 17.9%
- Net margin
- 8.8%
What it owes
Gearing at the latest balance-sheet date.
- Debt to equityAs disclosed in the prospectus. Issuers divide by total equity, which includes non-controlling interests — a wider base than the net worth used for RoNW.
- 1.58×
Valuation against listed peers
Asking P/E against operating margin. All marks are the same size — market capitalisation is not disclosed for every company here, and sizing only some of them would read as a measurement.
- Yogiraj Powertech
- Listed peers
Peer companies are those named in the issuer’s own prospectus. A higher position means better margins; further right means a more expensive multiple. Market capitalisation, where disclosed, is in the tooltip and the table. These figures are the prospectus’s, not today’s. A P/E is a price divided by earnings and the price half moves every day, so this comparison is as it stood on 31 Mar 2025 and is not refreshed. It is dated rather than chased on purpose: no reachable source publishes a current earnings figure per scrip, and putting a live price over a stale one would be a worse number than an openly old one.
The terms
How the issue is structured
100% of the money raised is fresh capital that goes to the company; the rest goes to shareholders selling down.
- Fresh issueNew shares — proceeds go to the company
- ₹48.83 Cr
- Offer for saleExisting shares — proceeds go to the selling shareholders
- ₹0
- Total issue size
- ₹48.83 Cr
- Shares offered in the OFS
- None — this is a fresh issue only
- Pre-issue shares outstanding
- 1,55,59,500
- Employee discount
- —
Who the shares are reserved for
Share of the net offer set aside for each investor category
Select a category to see who bids in it and how allotment works there.
Percentages are of the net offer, which excludes any employee or shareholder reservation.
Use of proceeds
Stated objects of the fresh issue, largest first
- Invested in growth
- General and unallocated
Hover or focus an object to see whether that spending grows the business or repairs the balance sheet.
76% of the quantified proceeds is earmarked for growth; the rest repairs the balance sheet or is unallocated.
Who owns it before the issue
7 holders of record. Percentages are of pre-issue paid-up equity, as stated in the offer document.
Pre-issue. The offer document leaves the post-issue column to be filled at the prospectus stage, so it is not shown here.
Demand
What the market is bidding
Subscription is hard exchange data. Grey-market premium is not — it is an unofficial quote, shown because readers want it and labelled because it deserves the label.
Subscription by category
Cumulative bid multiples
No dates have been set yet, so bidding has not opened.
Grey market premium
Unofficial over-the-counter sentiment
No grey-market quotes have been recorded for this issue.
Work it out
What this means for one application
Three calculations, each stating the assumption it rests on.
What one application costs
Shares are applied for in whole lots at the cut-off price. The full amount is blocked in your bank account under ASBA, not debited, until allotment.
The lot size and price band are not fixed yet, so there is nothing to calculate.
Odds of getting an allotment
When the retail category is oversubscribed, SEBI requires a lottery for the minimum lot. Every application has the same chance, whatever its size.
Retail subscription figures are not available yet, so there is nothing to estimate from.
What the grey market implies
Arithmetic on an unofficial quote. The grey market has no clearing house and no obligation to settle — this is sentiment made numeric, not a forecast.
No grey-market quote has been recorded for this issue.
Our read
Easy to misread
Grounded only in figures disclosed in the prospectus. This is analysis, not a recommendation.
Easy to miss in the prospectus
- Several trackers show Rs 27.68 crore as FY2025 revenue. That figure is the six months to 30 September 2025, not a full year; FY2025 revenue from operations was Rs 91.79 crore.
- FY2025 PAT roughly tripled to Rs 8.07 crore on 6.3% revenue growth, because EBITDA margin moved from 11.92% to 17.90%. The earnings jump is a margin effect, not volume.
- The newest audited period in the filing ends 30 September 2025. No updated financials had been published as at 17 October 2026.
Straight from the filing
Read it yourself
Every figure on this page comes out of these. Go and check them.
- Draft Prospectus dated 31 March 2026 (lead manager copy)31 Mar 2026The first draft, filed for review. No price band and no dates.Opens on finshoregroup.com
- Draft Abridged Prospectus dated 31 March 2026 (issuer's own copy)31 Mar 2026The statutory summary that goes out with the application form — a dozen pages, not the full filing.Opens on yogirajpowertech.com · about 0.66 MB
Served by the issuer, the exchange or the regulator — never a copy hosted here, so what you open is the filing itself.
The paperwork
Who is running the issue
- Lead managers
- Finshore Management Services Limited
- RegistrarAllotment status is checked on the registrar's own site
- Integrated Registry Management Services Private Limited
How these figures were checked
Reconciled to Yogiraj Powertech's own prospectus and to exchange disclosures, then cross-checked against 2 other independently published compilations of the same filing. Where a stated ratio disagreed with the line items it should come from, the disagreement was settled against the prospectus itself.
- Draft Prospectus dated 31 March 2026, Yogiraj Powertech Limited (NSE Emerge, fixed price issue) - read in full · read 17 Oct 2026
- Yogiraj Powertech Limited - investor downloads page · read 17 Oct 2026
The prospectus is the authoritative document. Check anything that matters against it before you act.
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