SJP Ultrasonic Open
What they do: The company utilizes secured and unsecured borrowings to finance its working capital and business requirements, indicating a reliance on external funding for operations.
By IPO Milega Research · Published
The company shows moderate financial fundamentals with a stable revenue trend and a positive profit margin.
- GMP (unofficial)
- N/A
- Grey market premium
- 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
Grey market data isn't available for this issue, so the gains estimate uses fundamentals only and ignores listing-day sentiment.
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 approximate gains potential is based on the company's strong performance and flexibility, despite moderate financial fundamentals and significant risks. The lack of GMP data limits the precision of this estimate.
Strengths3
- Consistent revenue growth over the past three years.
- Expansion into multiple industry sectors beyond automotive.
- Strong relationships with international manufacturers for procurement.
Concerns5
- Revenue concentration in two segments poses financial risk.
- Negative cash flows indicate financial instability.
- Dependency on a few large customers increases operational risk.
- Non-compliance with Provident Fund and Insurance Acts may lead to penalties.
- Raw material procurement without long-term contracts is risky.
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 IPO is strategically timed to leverage a stable regulatory environment and is fully underwritten, indicating confidence in the market conditions. The fixed price issue and market maker arrangement suggest a well-planned entry to ensure liquidity and investor interest.
- Time to market
- The IPO is well-timed with a fully underwritten issue and a market maker arrangement, ensuring liquidity and investor confidence. The regulatory environment is stable, and the fixed price issue is attractive to individual investors.
- 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 indicates a higher reliance on debt, which could pose risks if not managed properly.
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
SJP Ultrasonics faces significant financial and operational risks due to revenue concentration, compliance issues, and customer dependency, with limited litigation concerns.
How the company offsets these
Diversifying revenue streams and securing long-term contracts can mitigate risks.
Financial risks3
- Revenue concentration in two segments poses financial risk.
- Negative cash flows indicate financial instability.
- Exchange rate fluctuations may affect foreign investors.
Market risks1
- Potential share price volatility due to lack of trading history.
Operational risks2
- Dependency on a few large customers increases operational risk.
- Raw material procurement without long-term contracts is risky.
Regulatory risks1
- Non-compliance with Provident Fund and Insurance Acts may lead to penalties.
Performance
8.0/10SJP Ultrasonics Limited, established in 2012, specializes in plastic joining and automation solutions, primarily serving the automotive industry. The company has shown consistent revenue growth, expanding its operations across various sectors including medical, electronics, and FMCG. It has a strong management team led by Jignesh Parekh, who has extensive experience in the industry. The company is leveraging its long-standing relationships with suppliers and customers to maintain a competitive edge. It plans to enhance its manufacturing capabilities and expand its market presence both domestically and internationally.
- Historical growth
- The company has demonstrated a consistent upward trend in revenue, with a 26.12% increase from FY 2025 to FY 2026 and a 38.44% increase from FY 2024 to FY 2025., High
- Market comparison
- SJP Ultrasonics is positioned well within its industry, leveraging its diverse product offerings and strong supplier relationships to compete effectively against peers.
- Future potential
- The company is expected to continue its growth trajectory by expanding its manufacturing capabilities and increasing its market penetration both domestically and internationally.
- Operational consistency
- The company's diverse industry presence and strong supplier relationships contribute to its revenue stability.
- 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 revenue streams.
Key achievements
- 01Consistent revenue growth over the past three years.
- 02Expansion into multiple industry sectors beyond automotive.
- 03Strong relationships with international manufacturers for procurement.
Flexibility
8.0/10The company serves a wide range of industries, including automotive, medical, and electronics, which provides a buffer against sector-specific downturns. Its expansion into international markets, such as the USA and Europe, indicates strong market adaptability.
The company shows solid financial performance with increasing revenue and profitability. However, it has a moderate level of debt, which it plans to manage with IPO proceeds for capital expenditure and working capital.
The company has a flexible operational model with a focus on customized solutions and a strong emphasis on innovation. Its ability to quickly adapt to customer needs and industry changes is evident in its diverse product offerings and strategic investments in new machinery.
The company demonstrates strong flexibility and adaptability through its diversified product offerings, strategic industry presence, and robust financial performance. It has a well-established customer base across multiple sectors and maintains long-standing supplier relationships, which enhance its operational resilience. The company's focus on innovation and expansion into international markets further supports its adaptability.
- Product diversification
- The company offers a diverse range of products, including plastic joining solutions, industrial automation, and laser technology solutions, catering to various industries such as automotive, medical, and electronics.
- Future adaptability
- The company is well-positioned to capitalize on the growing demand for industrial automation and plastic joining solutions. Its planned capital expenditure on new machinery and expansion into international markets will likely enhance its adaptability and market reach.
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.