Carver RoboweldIPO Review — Financials, Valuation & Peers
A data-only look at the Carver Roboweld 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 | 21.67 | 1.01 | 4.12 | 3.11 | 21.59 | 13.39 | — |
| FY 2025 | 24.97 | 1.45 | 4.92 | 4.56 | 32.69 | 22.32 | — |
| FY 2026 | 27.12 | 3.48 | 8.36 | 16.13 | 38.26 | 15.65 | — |
| Jun 2026 (interim) | 7.71 | 1.49 | 2.84 | 17.62 | 39.45 | 12.27 | 3.64 |
Restated figures from the offer document. Amounts in ₹ crore; EPS in ₹ per share. FY = the 12 months ended 31 March. Interim periods cover part of a year and are not comparable to the full-year rows.
KPIs & Valuation
- RoNW
- 8.48%
- RoE
- 8.48%
- RoCE
- 8.27%
- Debt / Equity
- 0.7
- EPS (pre-issue)
- ₹3.64
- EPS (post-issue)
- ₹2.65
- EBITDA Margin
- 36.9%
- PAT Margin
- 19.37%
- NAV / share
- ₹18.42
As of 30 Jun 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 |
|---|---|---|---|---|---|
| - Consolidated | 5.8 | 18.8 | — | 29.67% | Consolidated |
| - Standalone | 3.78 | 16.86 | — | 21.57% | Standalone |
| Classic Electrodes (India) | 7.04 | 52.99 | 7.03x | 13.28% | — |
| Diffusion Engineers | 11.98 | 102.73 | 34.52x | 11.61% | — |
| Royal Arc Electrodes | 9.05 | 73.21 | 18.18x | 12.36% | — |
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>Ranjit Chandrabhai Bose, Rajit Chandra Bose, Deval Ranjitbhai Bose</p>
- Holding (pre-issue)
- 90.07%
- Holding (post-issue)
- 0%
- Dilution
- 90.07%
Analysis in brief
Margin and return profile
Beyond the headline pricing, the disclosed operating profile stands on its own numbers. Carver Roboweld operates at an EBITDA margin of 36.9% and a net (PAT) margin of 19.37% — the share of revenue retained at the operating and the net level respectively. Capital efficiency reads at a return on capital employed (RoCE) of 8.27% and a return on equity (RoE) of 8.48%. These are offer-document figures for the latest reported period (as of 30 Jun 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 the capital expenditure requirements of the company towards the purchase of welding robots (₹11.99 crore), alongside repayment and/or prepayment, in full or in part, of certain outstanding borrowings availed by the company from banks and financial institutions (₹8.6 crore). In all, 3 objects are disclosed.
Financials
In FY2026, Carver Roboweld reported revenue of ₹7.71 crore and a net profit of ₹1.49 crore. Revenue declined from ₹21.67 crore in FY2024 to ₹7.71 crore in FY2026 (-64.0%). Net worth stood at ₹17.62 crore at the end of FY2026.
Peer comparison
The offer document names listed peers including Classic Electrodes (India) and Diffusion Engineers, with a median peer P/E of about 18.2×.
Promoters
The promoters of the company are <p>Ranjit Chandrabhai Bose, Rajit Chandra Bose, Deval Ranjitbhai Bose</p>. Promoter holding stands at 90.07% before the issue and comes down to 0% after listing.
Frequently asked questions
- What is the reservation split in the Carver Roboweld IPO?
- Of the total shares offered, retail investors get 35.16%, QIBs 19.91% (plus 29.68% anchor), non-institutional investors 15.25%.
- Who are the promoters of Carver Roboweld and what is their holding?
- The promoters are <p>Ranjit Chandrabhai Bose, Rajit Chandra Bose, Deval Ranjitbhai Bose</p>. Promoter holding is 90.07% before the issue and 0% after listing.
- What are the objects of the Carver Roboweld IPO?
- The net proceeds go primarily toward funding the capital expenditure requirements of the company towards the purchase of welding robots, among 3 disclosed objects.