EverestIMS TechnologiesIPO Review — Financials, Valuation & Peers
A data-only look at the EverestIMS Technologies 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 | EPS (₹) |
|---|---|---|---|---|---|---|
| FY 2024 | 45.62 | 10.83 | 17.44 | 32.22 | 50.47 | 7.71 |
| FY 2025 | 57.78 | 14.08 | 22.64 | 47.41 | 67.82 | — |
| FY 2026 | 65.91 | 13.14 | 23.34 | 60.59 | 90.27 | — |
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)
- 11.02x
- P/E (post-issue)
- 14x
- RoNW
- 33.53%
- RoE
- 40.3%
- RoCE
- 40.71%
- EPS (pre-issue)
- ₹7.71
- EPS (post-issue)
- ₹6.07
- PAT Margin
- 23.66%
- P/BV
- 4.35x
- NAV / share
- ₹19.52
- Market Cap
- ₹183.92 Cr
As of 31 Mar 2024 (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 |
|---|---|---|---|---|---|---|
| EverestIMS Technologies | 7.71 | 35.55 | — | 21.69% | — | Consolidated |
| Newgen Software Technologies Ltd | 21.38 | 126.4 | 23.45x | 16.91% | 3.98x | 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>Satish Kumar Vijayaragavan, Sudhakar Aruchamy, Ramesh Pratap Tiwari, Arun Prasath Ramadoss, Deepak Kumar Shenbagarajan, Srikanth Audina, N Ganesh Kumar, Deepak Gupta</p>
- Holding (pre-issue)
- 80.38%
- Holding (post-issue)
- 58.98%
- Dilution
- 21.4%
Analysis in brief
Anchor book
3 anchor investors participated in the EverestIMS Technologies IPO ahead of the public offer, together allocated ₹13.72 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 NINE ALPS TRUST-NINE ALPS OPPORTUNITY FUND (₹11.7 crore), VIRA AIF TRUST-VIRA BHARAT OPPORTUNITIES FUND (₹1.01 crore) and NOVA GLOBAL OPPORTUNITIES FUND PCC-TOUCHSTONE (₹1.01 crore). Investor categories represented include Other and FII/FPI. The lock-in on half the anchor shares ends on 5 Nov 2026, with the remainder locked until 4 Jan 2027.
Margin and return profile
The offer document gives a read on the operating engine behind the issue. EverestIMS Technologies operates at a net (PAT) margin of 23.66%. Capital efficiency reads at a return on capital employed (RoCE) of 40.71% and a return on equity (RoE) of 40.3%. At the upper band, the post-issue market capitalisation works out to about ₹183.92 crore. These are offer-document figures for the latest reported period (as of 31 Mar 2024); 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 working capital requirement (₹24 crore), alongside purchase of it hardware for setting up of artificial intelligence (ai) innovation and experience laboratory (₹5.66 crore). In all, 4 objects are disclosed.
Financials
In FY2026, EverestIMS Technologies reported revenue of ₹65.91 crore and a net profit of ₹13.14 crore. Revenue grew from ₹45.62 crore in FY2024 to ₹65.91 crore in FY2026 (+44.0%). Net worth stood at ₹60.59 crore at the end of FY2026.
Valuation
At the upper band, the issue is priced at 14× post-issue earnings and 4.35× book value, against a return on net worth of 33.53%. These ratios come from the offer document and are for comparison, not a recommendation.
Promoters
The promoters of the company are <p>Satish Kumar Vijayaragavan, Sudhakar Aruchamy, Ramesh Pratap Tiwari, Arun Prasath Ramadoss, Deepak Kumar Shenbagarajan, Srikanth Audina, N Ganesh Kumar, Deepak Gupta</p>. Promoter holding stands at 80.38% before the issue and comes down to 58.98% after listing.
Frequently asked questions
- What is the reservation split in the EverestIMS Technologies IPO?
- Of the total shares offered, retail investors get 35.05%, QIBs 20.09% (plus 29.79% anchor), non-institutional investors 15.07%.
- Who are the promoters of EverestIMS Technologies and what is their holding?
- The promoters are <p>Satish Kumar Vijayaragavan, Sudhakar Aruchamy, Ramesh Pratap Tiwari, Arun Prasath Ramadoss, Deepak Kumar Shenbagarajan, Srikanth Audina, N Ganesh Kumar, Deepak Gupta</p>. Promoter holding is 80.38% before the issue and 58.98% after listing.
- What is the P/E ratio of the EverestIMS Technologies IPO?
- At the upper price band, the EverestIMS Technologies IPO is valued at 11.02× pre-issue earnings and 14× post-issue earnings, based on the financials disclosed in the offer document.
- What are the objects of the EverestIMS Technologies IPO?
- The net proceeds go primarily toward working capital requirement, among 4 disclosed objects.