Taurian MPS IPO: Unveiling an Investment Opportunity in Manufacturing Excellence
In the dynamic landscape of India's capital markets, Small and Medium Enterprises (SMEs) are emerging as significant growth drivers, offering unique investment prospects. We're turning our attention to one such upcoming public offering: the Taurian MPS IPO. This blog post aims to provide a comprehensive analysis of Taurian MPS Limited's public issue, guiding potential investors through its business, financials, IPO details, and a balanced perspective on its investment potential.
Understanding Taurian MPS: A Company Overview
Established in June 2010, Taurian MPS Limited stands as a prominent manufacturer and supplier of specialized crushing and screening equipment vital for the mining and construction sectors. The company prides itself on delivering high-quality, innovative machinery designed to tackle challenging terrains, with a strong emphasis on precision, performance, and dedicated customer service.
Under its distinctive "Taurian" brand, the company passionately champions the "Make in India" initiative, producing a diverse range of products including:
- Jaw crushers
- Cone crushers
- VSI crushers
- Vibrating screens
- Washing systems
- Complete crushing plants
With a robust manufacturing unit spanning 64,773 sq. ft. near Bhagwanpur, Roorkee, Haridwar, Taurian MPS ensures stringent quality control from raw materials to finished goods. The company's market footprint extends across numerous Indian states, supported by a network of dealers, signifying a broad operational reach.
Key Business Strengths
- Diverse Product Range: Offers a comprehensive portfolio catering to various crushing and screening needs.
- Robust Quality Control: Implements rigorous quality assurance protocols, including FMEA and APQP, to ensure product reliability.
- Experienced Leadership: Benefits from a seasoned management team guiding its strategic growth.
- Broad Customer Base: Serves a diversified clientele with notable sales presence in key states like Rajasthan and Maharashtra.
The Taurian MPS IPO at a Glance
The upcoming public offering from Taurian MPS is structured as a book-built issue, aiming to raise capital through a fresh issuance of shares. Here's a snapshot of the key details:
| Detail | Information |
|---|---|
| IPO Type | SME Book Building Issue |
| Issue Price Band | ₹162 to ₹171 per share |
| Face Value | ₹10 per share |
| Total Issue Size | 24,87,200 shares (aggregating up to ₹42.53 Crores) |
| Listing Exchange | NSE SME |
| Sale Type | Entirely a Fresh Issue |
Important Dates: Your IPO Timeline
Prospective investors should keep a close watch on these crucial dates for the Taurian MPS IPO:
Decoding the IPO: Lot Size and Investment Details
Investing in an SME IPO often involves specific lot sizes. For Taurian MPS IPO, the minimum application is set at 800 shares. Here’s a breakdown of the investment requirements for different investor categories:
| Investor Category | Application Lots (Min) | Shares (Min) | Amount (Min, at upper price band) |
|---|---|---|---|
| Individual Investors (Retail) | 2 | 1,600 | ₹2,73,600 |
| Small HNI (S-HNI) | 3 | 2,400 | ₹4,10,400 |
| Big HNI (B-HNI) | 8 | 6,400 | ₹10,94,400 |
The IPO has also made reservations for various investor categories: Not more than 50% for Qualified Institutional Buyers (QIBs), not less than 35% for Retail Individual Investors, and not less than 15% for Non-Institutional Investors (NIIs). A specific portion is also reserved for market makers.
Financial Health Check: Company Performance Review
Understanding a company's financial trajectory is paramount for any investment decision. Taurian MPS Limited has demonstrated a notable increase in its total income and assets over the past three financial years.
Restated Financial Information (₹ Crore)
| Period Ended (March 31) | 2025 | 2024 | 2023 |
|---|---|---|---|
| Assets | 73.17 | 39.12 | 28.67 |
| Total Income | 73.70 | 44.17 | 10.86 |
| Profit After Tax (PAT) | 9.50 | 11.32 | 0.22 |
| EBITDA | 15.08 | 8.14 | 2.25 |
| Net Worth | 34.30 | 19.29 | 7.98 |
| Total Borrowing | 9.11 | 7.17 | 14.14 |
While revenue saw a robust 67% increase from FY24 to FY25, the Profit After Tax (PAT) experienced a 16% decrease in FY25 compared to FY24. This was primarily attributed to a significant "other income" component in FY24, suggesting a need for investors to focus on core operational profitability.
Key Performance Indicators (KPIs) as of March 31, 2025
| KPI | Value |
|---|---|
| Market Capitalization | ₹151.90 Cr |
| Return on Equity (ROE) | 35.44% |
| Return on Capital Employed (ROCE) | 31.64% |
| Debt/Equity Ratio | 0.27 |
| Return on Net Worth (RoNW) | 27.69% |
| PAT Margin | 12.92% |
| EBITDA Margin | 20.51% |
| Price to Book Value | 3.19 |
| Pre-IPO EPS | 15.14 |
| P/E (at upper price band) | 11.29 |
Purpose of the Issue: What the Funds Are For
The funds raised through this IPO are earmarked for strategic investments aimed at bolstering Taurian MPS Limited's operational capabilities and future growth:
- Acquisition of Machineries and Equipment: ₹6.07 Crores will be invested in upgrading the existing production facility.
- Enhancement of R&D Facilities: ₹1.95 Crores is allocated to acquire equipment for improving research and development, fostering innovation.
- Meeting Working Capital Needs: A significant portion of ₹22.60 Crores will be utilized to fulfill working capital requirements, ensuring smooth operations.
- General Corporate Purposes: The remaining funds will be used for general corporate needs, maintaining operational flexibility.
Leadership & Ownership Structure
The company is promoted by a strong leadership team, ensuring experienced guidance for its growth trajectory.
Promoters: Mr. Yashvardhan Sumit Bajla, Ms. Puja Sumit Bajla, M/s Palss Properties Private Limited, M/s Castelos Parts Private Limited, and M/s Danta Resins Private Limited.
Promoter Holding
| Holding Stage | Percentage |
|---|---|
| Pre-Issue Promoter Holding | 88.61% |
| Post-Issue Promoter Holding | ~72.00% |
*Note: The post-issue promoter holding reflects the dilution of ownership due to the fresh issue of shares.*
The Support System: Lead Managers and Registrar
For any public issue, key intermediaries play a crucial role in its successful execution:
- Book Running Lead Manager: Gretex Corporate Services Ltd.
- Registrar to the Issue: Bigshare Services Pvt.Ltd.
- Market Makers: Gretex Share Broking Pvt.Ltd. and NNM Securities Pvt.Ltd.
SWOT Analysis: A Holistic View
To provide a comprehensive perspective, here's a SWOT analysis for Taurian MPS Limited:
- Strengths:
- Extensive product portfolio catering to diverse industry needs.
- Robust quality control and manufacturing processes.
- Experienced management team guiding strategic direction.
- Diversified customer base across multiple states, reducing geographical concentration risk.
- Strong revenue growth indicating market acceptance and demand.
- Weaknesses:
- Decline in Profit After Tax (PAT) in the most recent financial year, primarily influenced by a high 'other income' component in the prior year, suggesting a closer look at core operational profitability.
- SME IPOs typically face lower liquidity compared to mainboard listings.
- The relatively small post-IPO equity base might mean a longer path to potential mainboard migration.
- Significant working capital requirements, as indicated by the IPO's objectives.
- Opportunities:
- Growing infrastructure and construction sectors in India, driving demand for crushing and screening equipment.
- Government's emphasis on 'Make in India' supporting domestic manufacturing.
- Potential for expanding market share in existing regions and venturing into new domestic or international markets.
- Scope for adopting advanced technologies to enhance product efficiency and reduce costs.
- Threats:
- Intense competition from established domestic and international players.
- Volatility in raw material prices (e.g., steel) impacting production costs and margins.
- Economic downturns or slowdowns in the construction and mining industries.
- Stringent environmental regulations impacting mining operations and equipment demand.
Should You Invest? A Final Thought
Taurian MPS Limited operates in a vital sector, poised to benefit from India's infrastructure growth. The company demonstrates strong revenue growth and a diversified customer base. However, potential investors should carefully evaluate the recent dip in PAT and its underlying reasons, considering the influence of 'other income' in the previous year.
While the issue appears to be reasonably priced based on its recent financial performance, the nature of SME IPOs comes with inherent risks, including lower liquidity and a smaller post-IPO equity base. It is generally advisable for well-informed investors to consider allocating a moderate portion of their portfolio for a medium-term investment horizon, following thorough due diligence.
As with any investment, a comprehensive understanding of your risk appetite, market conditions, and personal financial goals is crucial. Consulting with a financial advisor can provide personalized insights tailored to your investment strategy.
Company Contact Information
For further inquiries, you may reach out to Taurian MPS Ltd. directly:
Taurian MPS Ltd.
Office Premises No. 201-C, A Wing,
Poonam Chambers, ShivsagarEstate, Dr. Annie Basant Road, Worli,
Mumbai, Maharashtra, 400018
Phone: 022 4967 0682
Email: info@taurianmps.com
IPO Registrar Details
For any queries regarding the IPO application, allotment, or share credit, please contact the official registrar:
Bigshare Services Pvt.Ltd.
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com