Caliber MiningIPO Review — Financials, Valuation & Peers
A data-only look at the Caliber Mining IPO: restated financials, valuation ratios, the RHP peer group and third-party analyst views. ipostation does not rate IPOs — nothing here is a recommendation.
Financials (₹ Cr)
| Period Ended | Revenue | PAT | EBITDA | Net Worth | Total Assets | Borrowings | EPS (₹) |
|---|---|---|---|---|---|---|---|
| FY 2024 | 957.92 | 95.9 | 243.14 | 295.93 | 1,279.18 | 717.88 | — |
| FY 2025 | 1,435.57 | 131.55 | 349.77 | 489.3 | 1,404.09 | 649.27 | — |
| FY 2026 | 1,684.66 | 157.9 | 430.92 | 647.54 | 2,077.39 | 1,057.61 | 28.23 |
Restated figures from the offer document. Amounts in ₹ crore; EPS in ₹ per share. FY = the 12 months ended 31 March.
KPIs & Valuation
- P/E (pre-issue)
- 15.02x
- P/E (post-issue)
- 17.55x
- RoNW
- 24.38%
- RoCE
- 16.6%
- Debt / Equity
- 1.63
- EPS (pre-issue)
- ₹28.23
- EPS (post-issue)
- ₹24.15
- EBITDA Margin
- 25.69%
- PAT Margin
- 9.41%
- P/BV
- 7.33x
- NAV / share
- ₹120.85
- Market Cap
- ₹2,771.93 Cr
As of 31 Mar 2026 (latest reported period in the offer document). Market cap is computed on a post-issue basis at the upper price band.
Peer Comparison
| Company | EPS (₹) | NAV (₹) | P/E | RoNW | P/BV | Statements |
|---|---|---|---|---|---|---|
| Caliber Mining | 29.47 | 120.85 | — | 24.38% | — | Restated |
| Dilip Buildcon Ltd | 86.08 | 428.55 | 4.95x | 20.09% | 1x | Consolidated |
| Ncc Limited | 10.76 | 127.88 | 13.59x | 9.02% | 1.15x | Consolidated |
| Power Mech Projects Ltd | 115.12 | 818.9 | 22.94x | 15.9% | 3.23x | Consolidated |
| Sindhu Trade Links Limited | 0.27 | 14.66 | 97.15x | 2.54% | 1.86x | Consolidated |
Peer group as disclosed in the offer document, figures as of 31 Mar 2026. The issuer’s P/E is computed at the upper price band.
Promoters & Shareholding
Promoters: <p>Mohit Satishkumar Chadda, Anuj Krishanlal Chadda, Manish Krishanlal Chadda, Rahul Roshanlal Chadda, Priya Anuj Chadda</p>
- Holding (pre-issue)
- 88.79%
- Holding (post-issue)
- 74.18%
- Dilution
- 14.61%
Broker Recommendations
| Reviewer | Verdict |
|---|---|
| Capital Market | May Apply |
Third-party analyst views on the Caliber Mining IPO, aggregated for reference. ipostation does not rate IPOs — nothing here is investment advice.
Analysis in brief
Anchor book
The anchor round of the Caliber Mining IPO drew 10 institutional investors committing a combined ₹135 crore. Anchor investors are institutions allotted shares at the issue price a day before bidding opens, in exchange for a mandatory post-listing lock-in — their names and cheque sizes are disclosed, which is why the anchor book is read as an institutional signal. The largest allocations went to ASHOKA INDIA EQUITY INVESTMENT TRUST PLC (₹25 crore), QSIF EQUITY EX-TOP 100 LONG-SHORT FUND (₹20 crore) and 3P INDIA EQUITY FUND II M (₹15 crore). Investor categories represented include Other. The lock-in on half the anchor shares ends on 21 Aug 2026, with the remainder locked until 20 Oct 2026.
Analyst view tally
For the Caliber Mining IPO, we track the published view of 1 reviewer, Capital Market among them. Of the 1 with a stated verdict, 1 says "May Apply". These are the views of the named reviewers, reproduced as published — they are not ipostation's recommendation, and this page does not rate the issue.
Margin and return profile
Away from the price multiples, the offer document also discloses the shape of the underlying business. Caliber Mining operates at an EBITDA margin of 25.69% and a net (PAT) margin of 9.41% — the share of revenue retained at the operating and the net level respectively. Capital efficiency reads at a return on capital employed (RoCE) of 16.6%. At the upper band, the post-issue market capitalisation works out to about ₹2,771.93 crore. These are offer-document figures for the latest reported period (as of 31 Mar 2026); they describe the business as disclosed, not how the stock will trade.
Objects of the issue
Per the offer document, the company intends to deploy the net proceeds primarily toward repayment/ prepayment, in full or part, of certain borrowings availed by the company (₹208 crore), alongside funding capital expenditure for purchase of machinery (₹167 crore). In all, 4 objects are disclosed.
Financials
In FY2026, Caliber Mining reported revenue of ₹1,684.66 crore and a net profit of ₹157.9 crore. Revenue grew from ₹957.92 crore in FY2024 to ₹1,684.66 crore in FY2026 (+76.0%). Net worth stood at ₹647.54 crore at the end of FY2026. At the upper band, that puts the issue at roughly 15.0× FY2026 earnings (P/E), a figure worth comparing against listed peers in the sector.
Valuation
At the upper band, the issue is priced at 17.55× post-issue earnings and 7.33× book value, against a return on net worth of 24.38% and a debt-to-equity ratio of 1.63. These ratios come from the offer document and are for comparison, not a recommendation.
Peer comparison
The offer document names listed peers including Dilip Buildcon Ltd and Ncc Limited, with a median peer P/E of about 18.3×. The issue's own post-issue P/E works out to 17.55×.
Promoters
The promoters of the company are <p>Mohit Satishkumar Chadda, Anuj Krishanlal Chadda, Manish Krishanlal Chadda, Rahul Roshanlal Chadda, Priya Anuj Chadda</p>. Promoter holding stands at 88.79% before the issue and comes down to 74.18% after listing.
Frequently asked questions
- What is the reservation split in the Caliber Mining IPO?
- Of the total shares offered, retail investors get 35%, QIBs 20% (plus 30% anchor), non-institutional investors 15%.
- Who are the promoters of Caliber Mining and what is their holding?
- The promoters are <p>Mohit Satishkumar Chadda, Anuj Krishanlal Chadda, Manish Krishanlal Chadda, Rahul Roshanlal Chadda, Priya Anuj Chadda</p>. Promoter holding is 88.79% before the issue and 74.18% after listing.
- What is the P/E ratio of the Caliber Mining IPO?
- At the upper price band, the Caliber Mining IPO is valued at 15.02× pre-issue earnings and 17.55× post-issue earnings, based on the financials disclosed in the offer document.
- What are the objects of the Caliber Mining IPO?
- The net proceeds go primarily toward repayment/ prepayment, in full or part, of certain borrowings availed by the company, among 4 disclosed objects.