Acme India Industries (O) SME
What they do: Acme India Industries Limited operates a diversified business model with a focus on manufacturing and trading activities. The company leverages its extensive distribution network and strategic partnerships to drive revenue growth and maintain competitive advantage.
By IPO Milega Research · Published
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
- ₹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.
- Financials8.0
- Performance7.0
- Flexibility8.0
- Timing7.0
- Risk4.0
The Grey Market Premium (GMP) suggests a potential gain of 12.76% on listing, indicating positive market sentiment. This is supported by the company's strong financial fundamentals, consistent revenue growth, and strategic market positioning.
Strengths3
- Successfully completed refurbishment and upgrades for 1,888 coaches and 10,948 toilet units.
- Secured significant contracts, including orders for over 1,417 coaches.
- Transitioned from a private to a public limited company in 2024.
Concerns5
- Heavy reliance on Indian Railways for revenue.
- Significant outstanding legal proceedings and contingent liabilities.
- Negative cash flows impacting liquidity.
- Potential conflicts in joint ventures due to shared promoter interests.
- Risk of losing key personnel affecting operations.
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 appears favorable given the structured approach to attract various investor categories and the use of a book-building process. The involvement of a monitoring agency suggests confidence in the offer size and utilization of proceeds. However, the lack of a green shoe option and IPO grading may indicate a cautious approach to market volatility.
- Time to market
- The company has recently transitioned to a public limited entity, which aligns well with its IPO launch, suggesting a well-timed entry to capitalize on its new corporate structure. The strategic use of a book-building process and the appointment of a monitoring agency further support the timing decision.
- 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
- 0.01
- Current ratio
- 1.26
- Revenue CAGR
- 7.71%
- 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 robust revenue CAGR of 7.71% over the past three years, with a significant increase in net profit margins. The balance sheet reflects a healthy asset base and a low debt-to-equity ratio, indicating prudent financial management.
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
- Operational risks3
Acme India faces high financial and operational risks due to revenue concentration, legal liabilities, and reliance on key personnel.
How the company offsets these
Diversifying client base and strengthening cash flow management can mitigate risks.
Financial risks4
- Heavy reliance on Indian Railways for revenue.
- Significant outstanding legal proceedings and contingent liabilities.
- Negative cash flows impacting liquidity.
- Fluctuating raw material costs impacting financial stability.
Operational risks3
- Potential conflicts in joint ventures due to shared promoter interests.
- Risk of losing key personnel affecting operations.
- Delays in client payments affecting cash flow.
Performance
7.0/10Acme India Industries Limited, a company in the Indian railway rolling stock sector, has shown a strong performance in terms of revenue growth and operational execution since its incorporation in 2021. The company has a significant order book and has completed numerous refurbishment projects. However, it faces challenges such as a recent net loss and high contingent liabilities.
- Historical growth
- The company has shown a consistent increase in revenue from operations, growing from ₹21,343.46 lakhs in FY 2023-24 to ₹26,370.77 lakhs in FY 2025-26., The revenue growth rate was 25.58% from FY 2024-25 to FY 2025-26.
- Market comparison
- Acme India Industries operates in a competitive market with a focus on railway coach interiors. The company has a strong position due to its specialization and significant order book, but it faces competition from other players in the railway infrastructure sector.
- Future potential
- The company is expected to continue growing due to its strong order book and focus on modernization projects.
- Operational consistency
- Despite a net loss in FY 2025-26, the company has maintained a strong order book and consistent revenue growth, indicating operational stability.
- Experience
- The management team, led by Suraj Pandey and Sadhvi Pandey, has over 15 years and 10 years of industry experience, respectively.
- Track record
- The management has successfully expanded the company's operations and secured significant contracts.
Key achievements
- 01Successfully completed refurbishment and upgrades for 1,888 coaches and 10,948 toilet units.
- 02Secured significant contracts, including orders for over 1,417 coaches.
- 03Transitioned from a private to a public limited company in 2024.
Flexibility
8.0/10The company has a strong presence in the Indian railway sector, with a diversified range of products and services. It has successfully executed numerous projects across various railway zones and production units, indicating its ability to adapt to market demands.
The company shows financial stability with increasing revenue and profitability over the years. It has a healthy order book and plans to use IPO proceeds for working capital and debt repayment, which should further strengthen its financial position.
Acme India Industries has demonstrated operational agility by expanding its product offerings and entering new segments like repair and technological solutions for railways. Its in-house manufacturing capabilities and strategic global partnerships enhance its operational flexibility.
Acme India Industries Limited demonstrates strong flexibility and adaptability in the Indian railway sector, with a diversified product portfolio, a robust order book, and strategic partnerships. The company has shown operational agility and market adaptability through its expansion into new segments and technological offerings.
- 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 and sanitary ware.
- Future adaptability
- The company is well-positioned for future adaptability with plans to expand into the repair segment and technological offerings like CCTV surveillance and public information systems for railways. Its strategic partnerships and in-house capabilities support its growth 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.