Axiom Gas Engineering
What they do: The company generates revenue primarily from operations in the gas engineering sector, focusing on providing engineering solutions and services. It has shown consistent growth in revenue and profit, indicating a strong market position.
By IPO Milega Research · Published · Updated
Axiom Gas Engineering Limited shows strong financial fundamentals with consistent revenue and profit growth, a solid asset base, and manageable liabilities.
- Listing gain
- +3.3%
- Listed at ₹54.75
- Subscribed
- 1.39x
- Total
- Retail odds
- 54%
- 1 in 1.9
GMP is an unofficial grey market indication.
- Price band
- ₹50-53
- Lot size
- 4000 shares
- Min. investment
- ₹2,12,000
- Issue size
- 49.81 Cr.
- Open18 Sept 2026
- Close22 Sept 2026
- Allotment23 Sept 2026
- Listing25 Sept 2026
Overview
Estimated from the current subscription figures. Tap a category to work it out for your application size.
- QIB
- 1.1x
- NII
- 0.98x
- Retail
- 1.86x
₹53 (+0.00%)
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
- Flexibility7.0
- Timing8.0
- Risk3.0
The approximate gains potential is based on the company's strong financial fundamentals, consistent revenue growth, and favorable market timing. However, the absence of GMP data limits the precision of this estimate.
Strengths3
- Projected revenue growth to ₹10,075.82 lakhs in FY26.
- Maintained a PAT margin of 9.38% for FY26.
- Strong promoter shareholding of 98.27% pre-issue.
Concerns5
- Dependency on few LPG suppliers could disrupt operations.
- Transportation risks with related party logistics company.
- Hazardous nature of LPG transportation and storage.
- Concentration of sales in limited regions.
- Regulatory filing discrepancies and potential penalties.
Who gets shares
- QIB50%
- NII15%
- Retail35%
- Retail Minimum2,12,0002 lots, 4,000 shares
- Retail Maximum2,12,0002 lots, 4,000 shares
- S-HNI Minimum3,18,0003 lots, 6,000 shares
- S-HNI Maximum9,54,0009 lots, 18,000 shares
- B-HNI Minimum10,60,00010 lots, 20,000 shares
| Application | Lot size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 2 | 4,000 | 2,12,000 |
| Retail Maximum | 2 | 4,000 | 2,12,000 |
| S-HNI Minimum | 3 | 6,000 | 3,18,000 |
| S-HNI Maximum | 9 | 18,000 | 9,54,000 |
| B-HNI Minimum | 10 | 20,000 | 10,60,000 |
Timing
8.0/10The market timing for Axiom Gas Engineering's IPO is favorable due to the increasing focus on cleaner energy solutions and supportive regulatory frameworks. The company's focus on expanding its ALDS network and enhancing LPG infrastructure aligns well with current market trends and policy directions.
- Time to market
- The IPO is well-timed to capitalize on the growing demand for cleaner fuels and the supportive regulatory environment, which are expected to drive growth in the Auto LPG sector.
- How allotment works
- Basis of allotment finalized and shares credited to demat
- Market timing
- Favourable
- Time to market
- 8.0
- Listing on
- NSE SME
Key milestones
- 18 Sept 2026IPO Opens
- 22 Sept 2026IPO Closes
- 23 Sept 2026Basis of Allotment
- 24 Sept 2026Refunds Initiated
- 24 Sept 2026Credit to Demat Account
- 25 Sept 2026Listing Date
Financials
8.0/10- Revenue
- ₹101 Cr
- +12.2%
- Profit after tax
- ₹9.45 Cr
- +21.9%
- Net margin
- 9.4%
- +0.8 pts
- Assets
- ₹69.38 Cr
- +14.1%
- Return on equity
- 28.40%
- Debt to equity
- 0.48
- Current ratio
- 2.30
- Revenue CAGR
- 16.06%
- ROCE
- 28.90%
- Return on net worth
- 28.40%
- NAV per share (₹)
- 12.83
Financial performance trend
Amount ₹ in croresAxiom Gas Engineering Limited shows strong financial fundamentals with consistent revenue and profit growth, a solid asset base, and manageable liabilities. The company has demonstrated a healthy profit margin and return on equity, indicating efficient management and profitability.
Risk
3.0/10Read this score as a safety rating: 10/10 means the lowest risk, 1/10 the highest.
Where the risks sit
- Financial risks2
- Market risks1
- Operational risks3
- Regulatory risks1
High dependency on few suppliers and regions, regulatory lapses, and unsecured loans pose significant risks.
How the company offsets these
Diversify suppliers and regions, enhance regulatory compliance, and secure loan agreements.
Financial risks2
- High fixed-cost structure impacting financials.
- Unsecured loans subject to recall.
Market risks1
- Concentration of sales in limited regions.
Operational risks3
- Dependency on few LPG suppliers could disrupt operations.
- Transportation risks with related party logistics company.
- Hazardous nature of LPG transportation and storage.
Regulatory risks1
- Regulatory filing discrepancies and potential penalties.
Performance
7.0/10Axiom Gas Engineering Limited is a company operating in the Auto LPG retail sector, facing significant competition and regulatory requirements. The company projects a revenue of ₹10,075.82 lakhs and a PAT of ₹945.35 lakhs for FY26, with a PAT margin of 9.38%. It operates primarily in Karnataka, Telangana, and Maharashtra, relying heavily on a few suppliers for LPG and a related party for transportation. The management has a strong shareholding, with promoters holding 98.27% of pre-issue equity. The company has faced historical compliance issues but has taken steps to address them.
- Historical growth
- The company has shown consistent revenue growth over the past three fiscal years, with revenue increasing from ₹7,453.80 lakhs in FY24 to ₹8,983.83 lakhs in FY25, and projected to reach ₹10,075.82 lakhs in FY26., Moderate
- Market comparison
- Axiom Gas Engineering Limited faces significant competition from established players in the Auto LPG retail sector, which have extensive resources and brand recognition.
- Future potential
- The company is expected to continue its growth trajectory, driven by its strategic focus on expanding its ALDS network and increasing market penetration in its core regions.
- Operational consistency
- The company has shown stable revenue growth over the past three years, with consistent operational performance and strategic focus on core markets.
- Experience
- The management team includes experienced directors and key managerial personnel, with a focus on compliance and strategic growth.
- Track record
- The management has a strong track record in maintaining operational stability and addressing past compliance issues.
Key achievements
- 01Projected revenue growth to ₹10,075.82 lakhs in FY26.
- 02Maintained a PAT margin of 9.38% for FY26.
- 03Strong promoter shareholding of 98.27% pre-issue.
Flexibility
7.0/10The company operates in a growing Auto LPG market, supported by regulatory frameworks and environmental policies. However, it faces competition from alternative fuels and regulatory variations across states.
The company shows strong financial metrics with increasing revenue, EBITDA, and PAT margins. It has a healthy net worth and is reducing borrowings, indicating good financial stability.
Axiom Gas Engineering has an integrated supply chain and established compliance processes, but high fixed costs and dependence on specific locations may limit operational agility.
Axiom Gas Engineering Limited demonstrates moderate flexibility and adaptability, with strengths in operational control and geographic diversification, but faces challenges in product diversification and regulatory compliance.
- Product diversification
- The company is concentrated in Auto LPG as a single-fuel business, limiting its product diversification.
- Future adaptability
- The company has potential to expand its ALDS network and participate in cleaner fuel initiatives, but must navigate regulatory challenges and competition from alternative fuels.
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.