Acme India Industries (O)
What they do: The company primarily engages in manufacturing and trading activities, with a diverse product portfolio. It generates revenue through operations and has a significant portion of its income from related party transactions.
By IPO Milega Research · Published
Acme India Industries Limited shows strong revenue growth and profitability, with a healthy EBITDA margin.
- 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
- ₹196
- Lot size
- 1200 shares
- Min. investment
- ₹2,35,200
- Issue size
- N/A
- 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.
- Financials7.0
- Performance7.0
- Flexibility8.0
- Timing7.0
- Risk4.0
The expected gains are based on the current Grey Market Premium (GMP) of 221, which suggests a 12.76% increase over the issue price. This is supported by the company's strong financial performance, growth potential, and strategic market positioning in the railway sector.
Strengths3
- Completed 28 turnkey furnishing projects, delivering 1,610 coaches.
- Upgraded 10,948 toilet units.
- Secured significant contracts, including a ₹25,798.64 lakh order for toilet upgrades.
Concerns5
- Heavy reliance on Indian Railways for revenue
- Significant contingent liabilities impacting financial stability
- Outstanding legal disputes, including tax and criminal cases
- Dependency on unsecured loans, posing financial risk
- Operational risks from labor shortages and raw material price fluctuations
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 for Acme India Industries' IPO appears favorable given the structured approach and compliance with SEBI regulations. The SME segment is generally less affected by market volatility, providing a stable environment for the IPO. However, the absence of a Green Shoe Option and reliance on a single lead manager may limit flexibility in case of high demand. Overall, the timing is strategically sound for an SME looking to capitalize on market conditions.
- Time to market
- The company has recently transitioned to a public limited entity, indicating readiness to access public markets. The structured IPO process and compliance with SEBI regulations suggest a well-timed entry into the market. The SME focus provides a niche advantage, reducing exposure to broader market volatility.
- 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
7.0/10- 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
- 2.69
- Current ratio
- 1.26
- Revenue CAGR
- 7.9%
- 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 revenue growth and profitability, with a healthy EBITDA margin. However, the company has significant current liabilities and a high debt-to-equity ratio, which may pose financial risks.
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 risks3
- Market risks1
- Operational risks2
- Regulatory risks1
Acme India Industries faces high financial and operational risks due to reliance on Indian Railways, legal disputes, and contingent liabilities.
How the company offsets these
Diversifying revenue sources and resolving legal disputes can mitigate risks.
Financial risks3
- Heavy reliance on Indian Railways for revenue
- Significant contingent liabilities impacting financial stability
- Dependency on unsecured loans, posing financial risk
Market risks1
- Competition from organized and unorganized sectors
Operational risks2
- Operational risks from labor shortages and raw material price fluctuations
- Delays in statutory filings and payment obligations
Regulatory risks1
- Outstanding legal disputes, including tax and criminal cases
Performance
7.0/10Acme India Industries Limited, established in 2021, operates in the Indian railway rolling stock sector, focusing on coach interiors. The company has shown significant growth in revenue and profitability, with a strong order book and successful project completions. However, it faces challenges such as market competition and dependency on government contracts.
- Historical growth
- The company has shown a steady increase in revenue from ₹21,343.46 lakhs in 2024 to ₹26,370.77 lakhs in 2026, with a CAGR of approximately 11.2%., 11.2% CAGR
- Market comparison
- Acme India operates in a niche market with limited direct competitors but faces competition from other companies in the railway infrastructure sector. Its focus on turnkey solutions and refurbishment gives it a competitive edge.
- Future potential
- The company is expected to continue growing due to its strong order book and government focus on railway infrastructure.
- Operational consistency
- The company's revenue is project-based, leading to fluctuations, but overall growth is consistent.
- Experience
- Suraj Pandey, the Managing Director, has over 15 years of industry experience, while Sadhvi Pandey, the Whole-Time Director, has approximately 10 years of experience.
- Track record
- The management has successfully transitioned the company from a private to a public entity and expanded its operations significantly.
Key achievements
- 01Completed 28 turnkey furnishing projects, delivering 1,610 coaches.
- 02Upgraded 10,948 toilet units.
- 03Secured significant contracts, including a ₹25,798.64 lakh order for toilet upgrades.
Flexibility
8.0/10Acme India Industries has established a strong presence in the Indian railway sector, with a diversified range of products and services. The company has successfully executed numerous projects across various railway zones, indicating its ability to adapt to market demands and secure significant contracts.
The company has demonstrated operational agility through its ability to execute a wide range of projects, including turnkey furnishing, refurbishment, and upgradation of railway coaches. Its in-house manufacturing capabilities and strategic global partnerships further enhance its operational flexibility.
Acme India Industries Limited demonstrates strong flexibility and adaptability in the Indian railway sector. The company has a diversified product portfolio, a robust order book, and a history of successful project execution. It is well-positioned to capitalize on future opportunities in railway modernization and technological advancements.
- Product diversification
- Acme India Industries offers a wide range of products and services, including turnkey furnishing solutions, refurbishment, upgradation of railway coaches, and manufacturing of components like Braille signage, FRP products, and sanitary ware. This diversification supports its adaptability in the railway sector.
- Future adaptability
- The company is well-positioned to adapt to future opportunities, such as entering the repair segment and technological offerings like CCTV surveillance systems and public information systems for railways. Its strategic partnerships and focus on innovation support 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.