SJP Ultrasonic (O) SME
What they do: The company utilizes secured and unsecured borrowings to finance its operations and capital structure changes, indicating a reliance on external funding for growth.
By IPO Milega Research · Published
The company shows moderate financial fundamentals with a stable revenue trend and a positive profit margin.
- GMP (unofficial)
- +0%
- ₹0 a share
- Opens
- 30 Sept
- Closes 5 Oct
- Min. investment
- ₹2,68,000
- 4000 shares
GMP is an unofficial grey market indication.
- Price band
- ₹67
- Lot size
- 4000 shares
- Min. investment
- ₹2,68,000
- Issue size
- N/A
- Open30 Sept 2026
- Close5 Oct 2026
- Allotment6 Oct 2026
- Listing8 Oct 2026
Overview
₹67 (+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.
- Financials5.0
- Performance8.0
- Flexibility8.0
- Timing7.0
- Risk4.0
The Grey Market Premium (GMP) is neutral at 0.00%, indicating no expected premium on listing. Despite strong operational performance and growth potential, the financial fundamentals and risk factors suggest limited immediate gains.
Strengths3
- Expanded revenue streams across multiple industries.
- Established strong supplier and customer relationships.
- Implemented a comprehensive quality assurance system.
Concerns5
- Reliance on two primary revenue segments contributing over 97% of revenue.
- Negative cash flows from operations, raising financial stability concerns.
- Compliance violations with Provident Fund and Insurance Acts.
- Potential price volatility due to lack of trading history.
- Outstanding tax proceedings and potential penalties.
Who gets shares
- QIB50%
- NII15%
- Retail35%
- Retail Minimum2,68,0002 lots, 4000 shares
- Retail Maximum2,68,0002 lots, 4000 shares
- S-HNI Minimum4,02,0003 lots, 6000 shares
| Application | Lot size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 2 | 4000 | 2,68,000 |
| Retail Maximum | 2 | 4000 | 2,68,000 |
| S-HNI Minimum | 3 | 6000 | 4,02,000 |
Timing
7.0/10The timing of the IPO appears favorable given the full underwriting and market maker arrangements, which mitigate risks associated with SME listings. The fixed price issue is likely to attract retail investors, ensuring a broad base of participation. However, the lack of a green shoe option could limit the company's ability to stabilize post-listing price fluctuations.
- Time to market
- The company has strategically converted to a public limited entity and timed its IPO to align with favorable market conditions for SMEs. The full underwriting and market maker support further enhance the timing's effectiveness.
- 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
- 5 Oct 2026IPO Closes
- 6 Oct 2026Basis of Allotment
- 7 Oct 2026Refunds Initiated
- 7 Oct 2026Credit to Demat Account
- 8 Oct 2026Listing Date
Financials
5.0/10- Revenue
- ₹26.63 Cr
- +25.9%
- Profit after tax
- ₹5.24 Cr
- +25.7%
- Net margin
- 19.7%
- -0.0 pts
- Assets
- ₹35.2 Cr
- +30.1%
- Return on equity
- 30.01%
- Debt to equity
- 0.64
- ROCE
- 38.49%
- Return on net worth
- 26.10%
- NAV per share (₹)
- 21.28
Financial performance trend
Amount ₹ in croresThe company shows moderate financial fundamentals with a stable revenue trend and a positive profit margin. However, the debt-to-equity ratio is relatively high, indicating potential leverage 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 risks2
- Market risks2
- Operational risks1
- Regulatory risks1
SJP Ultrasonics faces significant financial and operational risks, including reliance on two revenue segments, compliance issues, and negative cash flows, impacting financial stability and market perception.
How the company offsets these
Settlement of past loan defaults and ongoing efforts to resolve compliance issues.
Financial risks2
- Negative cash flows from operations.
- Outstanding tax proceedings and potential penalties.
Market risks2
- Potential price volatility due to lack of trading history.
- Fluctuations in currency exchange rates affecting foreign investors.
Operational risks1
- Reliance on two primary revenue segments contributing over 97% of revenue.
Regulatory risks1
- Compliance violations with Provident Fund and Insurance Acts.
Performance
8.0/10SJP Ultrasonics Limited, established in 2012, specializes in end-to-end plastic joining and automation solutions, primarily serving the automotive industry. The company has diversified into industrial automation and laser technology solutions, catering to various sectors including medical, electronics, and FMCG. Over the past three years, the company has shown significant revenue growth, driven by increased sales across its business segments. The management, led by experienced professionals, has successfully expanded operations and maintained strong relationships with suppliers and customers.
- Historical growth
- The company has demonstrated consistent revenue growth over the past three years, with a CAGR of approximately 32.81% from FY 2024 to FY 2026., High
- Market comparison
- SJP Ultrasonics operates in a competitive market with a focus on industrial automation and plastic joining solutions. The company has a diversified product portfolio and serves multiple high-demand industries, which provides a strategic advantage over some peers.
- Future potential
- The company is well-positioned to capitalize on the growing demand for industrial automation solutions, with plans to expand both domestically and internationally.
- Operational consistency
- The company's consistent revenue growth and diversified industry presence indicate stable operations.
- Experience
- The management team, led by Jignesh Parekh, has extensive experience in plastic joining solutions and industrial automation.
- Track record
- The management has successfully expanded the company's operations and maintained strong industry relationships.
Key achievements
- 01Expanded revenue streams across multiple industries.
- 02Established strong supplier and customer relationships.
- 03Implemented a comprehensive quality assurance system.
Flexibility
8.0/10The company serves a wide range of industries, including automotive, medical, and electronics, which allows it to adapt to market changes and demands. Its expansion into international markets further demonstrates its adaptability to different market conditions.
The company has shown consistent revenue growth and maintains a healthy profit margin. It plans to use IPO proceeds to enhance manufacturing capabilities and working capital, indicating a strategic approach to financial management.
The company has a strong focus on innovation and operational efficiency, with a comprehensive range of automation solutions and a well-integrated procurement system. Its ability to customize solutions for various industries showcases its operational agility.
The company demonstrates strong flexibility and adaptability through its diversified product offerings, strategic partnerships, and robust financial performance. It has a well-established presence in multiple industries and is expanding its geographical reach both domestically and internationally. The company's focus on innovation and operational efficiency further enhances its adaptability.
- Product diversification
- The company offers a diverse range of products, including plastic joining solutions, industrial automation, and laser technology solutions, catering to multiple industries.
- Future adaptability
- The company is well-positioned to capitalize on the growing demand for industrial automation and plastic joining solutions. Its strategic investments in machinery and expansion into international markets indicate strong future 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.