Tempsens Instruments (India)IPO Review — Financials, Valuation & Peers
A data-only look at the Tempsens Instruments (India) 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 | 278.04 | 40.92 | 61.13 | 180.61 | 271.14 | 30.13 | — |
| FY 2025 | 382.47 | 62.56 | 97.32 | 430.63 | 551.28 | 71.83 | — |
| FY 2026 | 455.86 | 71.07 | 113.17 | 496.89 | 661.05 | 77.95 | 8.81 |
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)
- 34.05x
- P/E (post-issue)
- 35.38x
- RoNW
- 13.55%
- RoE
- 13.54%
- RoCE
- 21.61%
- Debt / Equity
- 0.15
- EPS (pre-issue)
- ₹8.81
- EPS (post-issue)
- ₹8.48
- EBITDA Margin
- 24.83%
- PAT Margin
- 15.59%
- P/BV
- 4.87x
- NAV / share
- ₹61.66
- Market Cap
- ₹2,514.98 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.
Promoters & Shareholding
Promoters: <p>Virendra Prakash Rathi, Vinay Rathi, Pratap Singh Talesara</p>
- Holding (pre-issue)
- 80.51%
- Holding (post-issue)
- 65.67%
- Dilution
- 14.84%
Broker Recommendations
| Reviewer | Verdict |
|---|---|
| Capital Market | May Apply |
Third-party analyst views on the Tempsens Instruments (India) 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, Tempsens Instruments (India) placed shares with 29 anchor investors, who together put in ₹194.56 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 NIPPON INDIA SMALL CAP FUND (₹16.63 crore), SBI RESURGENT INDIA OPPORTUNITIES SCHEME (₹16.63 crore) and ARANDA INVESTMENTS (MAURITIUS) PTE.LTD. (₹16.63 crore). Investor categories represented include Other and Insurance. The lock-in on half the anchor shares ends on 24 Sept 2026, with the remainder locked until 23 Nov 2026.
Analyst view tally
1 third-party review is on record for the Tempsens Instruments (India) 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. Tempsens Instruments (India) operates at an EBITDA margin of 24.83% and a net (PAT) margin of 15.59% — the share of revenue retained at the operating and the net level respectively. Capital efficiency reads at a return on capital employed (RoCE) of 21.61% and a return on equity (RoE) of 13.54%. At the upper band, the post-issue market capitalisation works out to about ₹2,514.98 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 pre-payment or scheduled re-payment, in full or in part, of certain outstanding borrowings availed by the company (₹55 crore), alongside funding certain capital expenditure of the company towards the (i) electrical heating solutions (ii) specialized cable solutions (₹18.13 crore). In all, 3 objects are disclosed.
Financials
In FY2026, Tempsens Instruments (India) reported revenue of ₹455.86 crore and a net profit of ₹71.07 crore. Revenue grew from ₹278.04 crore in FY2024 to ₹455.86 crore in FY2026 (+64.0%). Net worth stood at ₹496.89 crore at the end of FY2026. At the upper band, that puts the issue at roughly 34.1× FY2026 earnings (P/E), a figure worth comparing against listed peers in the sector.
Valuation
At the upper band, the issue is priced at 35.38× post-issue earnings and 4.87× book value, against a return on net worth of 13.55% and a debt-to-equity ratio of 0.15. These ratios come from the offer document and are for comparison, not a recommendation.
Promoters
The promoters of the company are <p>Virendra Prakash Rathi, Vinay Rathi, Pratap Singh Talesara</p>. Promoter holding stands at 80.51% before the issue and comes down to 65.67% after listing.
Frequently asked questions
- What is the reservation split in the Tempsens Instruments (India) IPO?
- Of the total shares offered, retail investors get 34.92%, QIBs 19.95% (plus 29.93% anchor), non-institutional investors 14.97%.
- Who are the promoters of Tempsens Instruments (India) and what is their holding?
- The promoters are <p>Virendra Prakash Rathi, Vinay Rathi, Pratap Singh Talesara</p>. Promoter holding is 80.51% before the issue and 65.67% after listing.
- What is the P/E ratio of the Tempsens Instruments (India) IPO?
- At the upper price band, the Tempsens Instruments (India) IPO is valued at 34.05× pre-issue earnings and 35.38× post-issue earnings, based on the financials disclosed in the offer document.
- What are the objects of the Tempsens Instruments (India) IPO?
- The net proceeds go primarily toward pre-payment or scheduled re-payment, in full or in part, of certain outstanding borrowings availed by the company, among 3 disclosed objects.