Hy-Tech EngineersIPO Review — Financials, Valuation & Peers
A data-only look at the Hy-Tech Engineers 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 | 141.17 | 11.6 | 22.55 | 82.22 | 146.24 | 40.84 | — |
| FY 2025 | 166.71 | 19.62 | 35.79 | 101.25 | 170.65 | 43.53 | — |
| FY 2026 | 193.44 | 22.59 | 41.69 | 122.02 | 175.71 | 29.76 | 2.7 |
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)
- 19.63x
- P/E (post-issue)
- 22.27x
- RoNW
- 20.24%
- RoE
- 20.24%
- RoCE
- 24.4%
- EPS (pre-issue)
- ₹2.7
- EPS (post-issue)
- ₹2.38
- EBITDA Margin
- 22.01%
- PAT Margin
- 11.68%
- P/BV
- 3.63x
- NAV / share
- ₹14.61
- Market Cap
- ₹502.72 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 | Statements |
|---|---|---|---|---|---|
| Hy-Tech Engineers | 2.7 | 14.61 | — | 20.24% | Consolidated |
| Aeroflex Industries Ltd | 4.28 | 33.8 | 107.04x | 14.06% | Consolidated |
| Dynamatic Technologies Ltd | 47.73 | 1,168.41 | 230.32x | 7.89% | Consolidated |
| Yuken India Ltd | 10.81 | 274.66 | 69.32x | 4.27% | 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>Hemant Tukaram Mondkar, Surekha Hemant Mondkar, Ashwin Hemant Mondkar</p>
- Holding (pre-issue)
- 97.99%
- Holding (post-issue)
- 71.23%
- Dilution
- 26.76%
Broker Recommendations
| Reviewer | Verdict |
|---|---|
| Capital Market | May Apply |
Third-party analyst views on the Hy-Tech Engineers IPO, aggregated for reference. ipostation does not rate IPOs — nothing here is investment advice.
Analysis in brief
Anchor book
Before the issue opened to the public, Hy-Tech Engineers placed shares with 8 anchor investors, who together put in ₹40.72 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 WINRO COMMERCIAL (INDIA) LTD. (₹12 crore), WHITEOAK CAPITAL MULTI CAP FUND (₹7.08 crore) and ASHIKA GLOBAL FINANCE PVT.LTD. (₹6 crore). Investor categories represented include Other and FII/FPI. The lock-in on half the anchor shares ends on 27 Sept 2026, with the remainder locked until 26 Nov 2026.
Analyst view tally
1 third-party review is on record for the Hy-Tech Engineers IPO — among them Capital Market. 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
Beyond the headline pricing, the disclosed operating profile stands on its own numbers. Hy-Tech Engineers operates at an EBITDA margin of 22.01% and a net (PAT) margin of 11.68% — the share of revenue retained at the operating and the net level respectively. Capital efficiency reads at a return on capital employed (RoCE) of 24.4% and a return on equity (RoE) of 20.24%. At the upper band, the post-issue market capitalisation works out to about ₹502.72 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 funding capital expenditure requirement of the company towards procurement of machinery and equipment for expansion at kavathe unit, shirwal unit and procurement pithampur unit-i (₹29.97 crore), alongside prepayment or repayment, in full or in part, of certain outstanding borrowings availed by the company (₹16 crore). In all, 3 objects are disclosed.
Financials
In FY2026, Hy-Tech Engineers reported revenue of ₹193.44 crore and a net profit of ₹22.59 crore. Revenue grew from ₹141.17 crore in FY2024 to ₹193.44 crore in FY2026 (+37.0%). Net worth stood at ₹122.02 crore at the end of FY2026. At the upper band, that puts the issue at roughly 19.6× FY2026 earnings (P/E), a figure worth comparing against listed peers in the sector.
Valuation
At the upper band, the issue is priced at 22.27× post-issue earnings and 3.63× book value, against a return on net worth of 20.24%. These ratios come from the offer document and are for comparison, not a recommendation.
Peer comparison
The offer document names listed peers including Aeroflex Industries Ltd and Dynamatic Technologies Ltd, with a median peer P/E of about 107×. The issue's own post-issue P/E works out to 22.27×.
Promoters
The promoters of the company are <p>Hemant Tukaram Mondkar, Surekha Hemant Mondkar, Ashwin Hemant Mondkar</p>. Promoter holding stands at 97.99% before the issue and comes down to 71.23% after listing.
Frequently asked questions
- Who are the promoters of Hy-Tech Engineers and what is their holding?
- The promoters are <p>Hemant Tukaram Mondkar, Surekha Hemant Mondkar, Ashwin Hemant Mondkar</p>. Promoter holding is 97.99% before the issue and 71.23% after listing.
- What is the P/E ratio of the Hy-Tech Engineers IPO?
- At the upper price band, the Hy-Tech Engineers IPO is valued at 19.63× pre-issue earnings and 22.27× post-issue earnings, based on the financials disclosed in the offer document.
- What are the objects of the Hy-Tech Engineers IPO?
- The net proceeds go primarily toward funding capital expenditure requirement of the company towards procurement of machinery and equipment for expansion at kavathe unit, shirwal unit and procurement pithampur unit-i, among 3 disclosed objects.