Technocraft VenturesIPO Review — Financials, Valuation & Peers
A data-only look at the Technocraft Ventures 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 | 227.3 | 19.05 | 35.03 | 91.78 | 258.05 | 80.11 | — |
| FY 2025 | 281 | 28.2 | 49.63 | 119.98 | 269.74 | 87.43 | — |
| FY 2026 | 347 | 43.32 | 72.18 | 163.38 | 354.38 | 89.76 | 14.39 |
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)
- 14.73x
- P/E (post-issue)
- 19.38x
- RoNW
- 26.51%
- RoE
- 26.51%
- RoCE
- 27.72%
- Debt / Equity
- 0.55
- EPS (pre-issue)
- ₹14.39
- EPS (post-issue)
- ₹10.94
- EBITDA Margin
- 20.92%
- PAT Margin
- 12.56%
- P/BV
- 3.91x
- NAV / share
- ₹54.28
- Market Cap
- ₹839.65 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 |
|---|---|---|---|---|---|---|
| Technocraft Ventures | 14.39 | 54.28 | — | 26.51% | — | Consolidated |
| Denta Water And Infra Solutions Ltd | 22.81 | 171.91 | 14.81x | 13.27% | 1.67x | Consolidated |
| EMS Limited | 16.3 | 190.57 | 24.3x | 8.62% | 2.08x | Consolidated |
| Enviro Infra Engineers Ltd | 10.42 | 7.05 | 20.76x | 15.22% | 31.71x | Consolidated |
| Va Tech Wabag Ltd | 59.51 | 415.11 | 31.96x | 14.37% | 3.5x | 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>Sanjay Tyagi, Rekha Tyagi, Kartikey Tyagi, Kartikey Constructions (Partnership Firm), Sanjay Tyagi (HUF)</p>
- Holding (pre-issue)
- 100%
- Holding (post-issue)
- 70%
- Dilution
- 30%
Broker Recommendations
| Reviewer | Verdict |
|---|---|
| Capital Market | May Apply |
Third-party analyst views on the Technocraft Ventures 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, Technocraft Ventures placed shares with 4 anchor investors, who together put in ₹75.54 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 LRSD SECURITIES PVT.LTD. (₹25.39 crore), VIKASA INDIA EIF I FUND-SHARE CLASS P (₹20.03 crore) and NAKSHATRA BHARAT VANTAGE FUND (₹15.06 crore). Investor categories represented include Other. The lock-in on half the anchor shares ends on 10 Sept 2026, with the remainder locked until 9 Nov 2026.
Analyst view tally
1 third-party review is on record for the Technocraft Ventures 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. Technocraft Ventures operates at an EBITDA margin of 20.92% and a net (PAT) margin of 12.56% — the share of revenue retained at the operating and the net level respectively. Capital efficiency reads at a return on capital employed (RoCE) of 27.72% and a return on equity (RoE) of 26.51%. At the upper band, the post-issue market capitalisation works out to about ₹839.65 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 working capital requirements of the company (₹150 crore), alongside general corporate purposes.
Financials
In FY2026, Technocraft Ventures reported revenue of ₹347 crore and a net profit of ₹43.32 crore. Revenue grew from ₹227.3 crore in FY2024 to ₹347 crore in FY2026 (+53.0%). Net worth stood at ₹163.38 crore at the end of FY2026. At the upper band, that puts the issue at roughly 14.7× FY2026 earnings (P/E), a figure worth comparing against listed peers in the sector.
Valuation
At the upper band, the issue is priced at 19.38× post-issue earnings and 3.91× book value, against a return on net worth of 26.51% and a debt-to-equity ratio of 0.55. These ratios come from the offer document and are for comparison, not a recommendation.
Peer comparison
The offer document names listed peers including Denta Water And Infra Solutions Ltd and EMS Limited, with a median peer P/E of about 22.5×. The issue's own post-issue P/E works out to 19.38×.
Promoters
The promoters of the company are <p>Sanjay Tyagi, Rekha Tyagi, Kartikey Tyagi, Kartikey Constructions (Partnership Firm), Sanjay Tyagi (HUF)</p>. Promoter holding stands at 100% before the issue and comes down to 70% after listing.
Frequently asked questions
- What is the reservation split in the Technocraft Ventures IPO?
- Of the total shares offered, retail investors get 35%, QIBs 20% (plus 30% anchor), non-institutional investors 15%.
- Who are the promoters of Technocraft Ventures and what is their holding?
- The promoters are <p>Sanjay Tyagi, Rekha Tyagi, Kartikey Tyagi, Kartikey Constructions (Partnership Firm), Sanjay Tyagi (HUF)</p>. Promoter holding is 100% before the issue and 70% after listing.
- What is the P/E ratio of the Technocraft Ventures IPO?
- At the upper price band, the Technocraft Ventures IPO is valued at 14.73× pre-issue earnings and 19.38× post-issue earnings, based on the financials disclosed in the offer document.
- What are the objects of the Technocraft Ventures IPO?
- The net proceeds go primarily toward funding working capital requirements of the company, among 2 disclosed objects.