Acme India Industries
What they do: The company operates in the manufacturing sector, focusing on producing and distributing a range of industrial products. It leverages its extensive distribution network and strategic partnerships to enhance market reach and customer engagement.
By IPO Milega Research · Published · Updated
Acme India Industries Limited shows strong financial fundamentals with consistent revenue growth, improving profitability, and a manageable debt profile.
- GMP (unofficial)
- +12.76%
- ₹25 a share
- Opens
- 30 Sept
- Closes 6 Oct
- Min. investment
- ₹2,35,200
- 1200 shares
GMP is an unofficial grey market indication.
- Price band
- ₹186-196
- Lot size
- 1200 shares
- Min. investment
- ₹2,35,200
- Issue size
- 122 Cr.
- Open30 Sept 2026
- Close6 Oct 2026
- Allotment7 Oct 2026
- Listing9 Oct 2026
Overview
₹221 (+12.76%)
GMP trend
Unofficial grey market quotes, times in IST
Outer ring: estimated gain
How the score adds up
The overall score is the average of these five, nudged by QIB demand once bidding closes.
- Financials8.0
- Performance8.0
- Flexibility8.0
- Timing7.0
- Risk4.0
The expected gains are based on the Grey Market Premium (GMP) of 226, which suggests a 15.31% increase over the issue price. This is supported by the company's strong financial fundamentals, consistent revenue growth, and strategic market positioning, which enhance investor confidence.
Strengths3
- Completed refurbishment of 1,888 coaches and upgraded 10,948 toilet units.
- Secured significant contracts for over 1,417 coaches.
- Achieved a turnover exceeding ₹200 crore in FY 2023-24.
Concerns5
- Heavy reliance on Indian Railways for revenue
- Significant outstanding legal proceedings and liabilities
- Potential conflicts of interest in joint ventures
- Dependency on key personnel and promoters
- Fluctuations in raw material costs
Who gets shares
- QIB50%
- NII15%
- Retail35%
- Retail Minimum2,35,2002 lots, 1200 shares
- Retail Maximum2,35,2002 lots, 1200 shares
- S-HNI Minimum3,52,8003 lots, 1800 shares
- S-HNI Maximum9,40,8008 lots, 4800 shares
- B-HNI Minimum10,58,4009 lots, 5400 shares
| Application | Lot size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 2 | 1200 | 2,35,200 |
| Retail Maximum | 2 | 1200 | 2,35,200 |
| S-HNI Minimum | 3 | 1800 | 3,52,800 |
| S-HNI Maximum | 8 | 4800 | 9,40,800 |
| B-HNI Minimum | 9 | 5400 | 10,58,400 |
Timing
7.0/10The timing of the IPO seems strategically planned, considering the company's recent transition to a public limited company and the structured book-building process. The market conditions appear favorable, with a clear allocation strategy for different investor categories, which can enhance investor confidence and participation.
- Time to market
- The company's transition from a private to a public limited entity and the structured book-building process indicate a well-timed entry into the market. The allocation strategy for various investor categories suggests a favorable market environment, enhancing the IPO's attractiveness.
- How allotment works
- Basis of allotment finalized and shares credited to demat
- Market timing
- Favourable
- Time to market
- 8.0
- Listing on
- BSE SME
Key milestones
- 30 Sept 2026IPO Opens
- 6 Oct 2026IPO Closes
- 7 Oct 2026Basis of Allotment
- 8 Oct 2026Refunds Initiated
- 8 Oct 2026Credit to Demat Account
- 9 Oct 2026Listing Date
Financials
8.0/10- Revenue
- ₹268 Cr
- +25.5%
- Profit after tax
- ₹24.36 Cr
- +48.0%
- Net margin
- 9.1%
- +1.4 pts
- Assets
- ₹383 Cr
- +40.5%
- Return on equity
- 23.52%
- Debt to equity
- 0.27
- Current ratio
- 1.26
- Revenue CAGR
- 7.73%
- ROCE
- 23.20%
- Return on net worth
- 23.52%
- NAV per share (₹)
- 59.94
Financial performance trend
Amount ₹ in croresAcme India Industries Limited shows strong financial fundamentals with consistent revenue growth, improving profitability, and a manageable debt profile. The company has demonstrated a solid revenue CAGR of 7.73% over the past three years, with a significant increase in net profit margins, indicating efficient cost management and operational effectiveness. The debt-to-equity ratio is low, suggesting a conservative approach to leveraging, which is favorable for financial stability.
Risk
4.0/10Read this score as a safety rating: 10/10 means the lowest risk, 1/10 the highest.
Where the risks sit
- Financial risks4
- Market risks1
- Operational risks2
Acme India Industries faces high financial and operational risks due to dependency on Indian Railways and significant legal liabilities.
How the company offsets these
Diversifying client base and strengthening legal compliance can mitigate risks.
Financial risks4
- Heavy reliance on Indian Railways for revenue
- Significant outstanding legal proceedings and liabilities
- Fluctuations in raw material costs
- Delays in client payments
Market risks1
- Non-renewal of strategic partnerships
Operational risks2
- Dependency on key personnel and promoters
- Potential conflicts of interest in joint ventures
Performance
8.0/10Acme India Industries Limited, established in 2021, operates in the Indian railway rolling stock sector, focusing on coach interiors. The company has shown strong growth with a significant order book and successful project completions. However, it faces challenges such as market competition and legal claims.
- Historical growth
- The company has shown consistent revenue growth, with a notable increase in FY 2025-26., Revenue grew by 25.58% in FY 2025-26 compared to FY 2024-25.
- Market comparison
- Acme India operates in a niche market with limited direct competitors, focusing on railway coach interiors, which provides a unique market position.
- Future potential
- The company is expected to continue growing due to its strong order book and government initiatives in railway infrastructure.
- Operational consistency
- The company's revenue has generally increased, supported by a strong order book and successful project completions.
- Experience
- The management team, led by Suraj Pandey, has over 15 years of industry experience.
- Track record
- The management has successfully transitioned the company from a private to a public entity and secured significant contracts.
Key achievements
- 01Completed refurbishment of 1,888 coaches and upgraded 10,948 toilet units.
- 02Secured significant contracts for over 1,417 coaches.
- 03Achieved a turnover exceeding ₹200 crore in FY 2023-24.
Flexibility
8.0/10The company has established a significant presence in the Indian railway sector, with a diverse range of products and services tailored to meet specific railway standards. Its strategic partnerships and collaborations with global entities enhance its adaptability to market demands.
The company shows strong financial performance with increasing revenue and profitability. It has a healthy order book and plans to use IPO proceeds to strengthen its financial position further by reducing debt and expanding capacity.
Acme India Industries has demonstrated operational agility through its ability to execute a wide range of projects across multiple railway zones and production units. Its in-house manufacturing capabilities and strategic partnerships support its operational flexibility.
Acme India Industries Limited demonstrates strong flexibility and adaptability in the Indian railway sector, with a diversified product and service portfolio, robust financial performance, and strategic growth initiatives.
- Product diversification
- The company offers a wide range of products and services, including turnkey furnishing, refurbishment, and upgradation of railway coaches, as well as manufacturing components like Braille signage, FRP products, and sanitary ware.
- Future adaptability
- The company is well-positioned to adapt to future market changes with plans to enter the repair segment, expand technological offerings, and enhance its manufacturing capabilities. Its strategic focus on quality and innovation supports its adaptability potential.
The data on this page has been reviewed manually by the IPO Milega research team. It is not investment advice, and IPO Milega accepts no responsibility for losses arising from any investment decision. Investments in the securities market are subject to market risks. Read all the related documents, including the full prospectus, carefully before investing.