Adroit Industries (India) IPO – Company Analysis
Adroit Industries (India) IPO is a mainboard issue of Rs. 150.71 Cr (1.12 crore shares) by Adroit Industries (India) Limited, incorporated in 1995, which is a vertically integrated producer and supplier of torque-transmission parts and propeller shafts for driveline systems.
The company's offering of more than 5,000 SKUs includes forged parts, full propeller shaft assemblies, and precision-machined torque-transmission components. End-to-end control over the production process is made possible by its vertically integrated manufacturing capabilities, which include forging, precision machining, heat treatment, assembly, balancing, and testing.
Depending on the technical specifications of each customer, the company provides its products directly to OEMs, through distributors, and through Tier-1 driveline component suppliers. Commercial vehicles, SUVs, defense and emergency services, heavy machinery, off-highway machinery, and industrial applications are the main markets for its goods.
Adroit Industries (India) IPO Details
The Adroit Industries (India) IPO date is from Sep 23 to Sep 25, with IPO allotment on Sep 28, refund initiation on Sep 29, 2026. Adroit Industries (India) IPO listing date is Sep 30, 2026. Adroit Industries (India) IPO price is Rs. 126 to Rs. 134.
|
Event |
Date |
|
IPO Open Date |
September 23, 2026 |
|
IPO Close Date |
September 25, 2026 |
|
IPO Allotment Date |
September 28, 2026 |
|
Refunds / Credit of Shares |
September 29, 2026 |
|
IPO Listing Date |
September 30, 2026 |
|
Issue Type |
Book Built Issue |
|
IPO Price Band |
Rs. 126 to Rs. 134 |
|
Minimum Investment (Retail) |
Rs. 14,874 (111 Shares) |
|
Listing At |
BSE, NSE |
If you want to apply for the IPO, click to open a Demat Account.
Industry Overview
The Indian propeller shaft industry forms a critical part of the broader automotive and industrial drivetrain component ecosystem. Demand for propeller shafts is primarily driven by the automotive sector, particularly commercial vehicles, passenger vehicles with rear-wheel-drive and all-wheel-drive configurations, and off-highway vehicles such as tractors, construction equipment, and mining machinery.
Company Financial
(Amount in Cr)
|
Period |
31 Mar 2026 |
31 Mar 2025 |
31 Mar 2024 |
|
Assets |
212.74 |
187.01 |
199.39 |
|
Total Income |
143.04 |
136.61 |
125.10 |
|
Profit After Tax |
26.16 |
18.14 |
14.53 |
|
EBITDA |
38.71 |
31.02 |
29.69 |
|
Net Worth |
128.63 |
103.53 |
87.82 |
|
Reserves & Surplus |
105.59 |
96.92 |
78.79 |
|
Total Borrowing |
52.40 |
8.32 |
16.29 |
Adroit Industries (India) Business Model
Adroit makes money by manufacturing high-precision propeller shafts and driveline components through a fully integrated manufacturing setup and selling them predominantly through export channels (distributors and Tier-1 suppliers) to the automotive and industrial sectors worldwide.
How it earns money:
The company operates on a pure B2B model. Almost all revenue comes from the sale of products.
Revenue composition (Fiscal 2026):
Sale of Products: ≈ ₹1,271 million (~91% of total revenue from operations)
Machined torque-transmission components ≈ 68%
Finished propeller shaft assemblies ≈ 32%
Miscellaneous sales + Other operating revenue (scrap, export incentives, job work, etc.)
Revenue Bifurcation
The Objective of the Issue
-
Funding capital expenditure by the Company towards procurement of (i) machinery and equipment for enhancement of operations at the Dewas Facility and (ii) vehicles for local transportation of goods between the Manufacturing Facilities. ~ Rs. 19.91 Cr.
-
Investment in the Subsidiary, Adroit Driveshafts Private Limited, in the form of debt or equity or a combination thereof, for funding capital expenditure towards procurement of (i) machinery and equipment for enhancement of operations at the Pithampur Facility and (ii) a vehicle for local transportation of goods between the Manufacturing Facilities. ~ Rs. 43.96 Cr.
-
Investment in the Subsidiary, Adroit Driveshafts Private Limited, in the form of debt or equity or a combination thereof, for repayment or pre-payment, in full or in part, of certain borrowings availed by the Subsidiary. ~ Rs. 24.12 Cr.
-
General Corporate Purposes.
Adroit Industries (India) IPO Valuation
|
KPI |
As on March 31, 2026 |
|
ROE |
22.54% |
|
ROCE |
19.01% |
|
Debt/Equity |
0.41 |
|
RoNW |
22.51% |
|
PAT Margin |
18.69% |
|
EBITDA Margin |
27.66% |
Adroit Industries (India) IPO Allotment Status
Investors can check Adroit Industries (India) IPO allotment status using the registrar, Kfin Technologies Ltd. or using the BSE website- BSE IPO allotment status.
IPO Strengths
-
Portfolio of over 5,000 SKUs.
-
Healthy financial performance.
-
Diversified international customer base.
-
Strong engineering and validation capabilities.
IPO Weaknesses
-
Volatility in steel and aluminum prices makes it extremely difficult to manage profits in the industry.
-
The industry is still in the early stages of development for designing and manufacturing electric vehicle drivetrains. This creates a need for further investment in the development of materials.
-
The industry is reliant on raw material suppliers, which increases vulnerability to disruptions in the supply chain.
Adroit Industries (India) IPO GMP
The Adroit Industries (India) IPO GMP today is Rs. 8 as of 18 Sep 2026, while writing this information.
IPO Review: Subscribe or Avoid?
Adroit Industries (India) IPO presents a growth opportunity with its strong manufacturing capabilities, diversified customer base, and healthy financial performance.
The company’s integrated production model, expanding automotive applications, and improving profitability highlight its long-term growth potential. However, investors should consider raw material price volatility, supply chain risks, and evolving EV drivetrain challenges before making investment decisions.
Before making any decision to subscribe or avoid, you should consult your SEBI-registered financial advisor.
Adroit Industries (India) IPO News
Adroit Industries (India) DRHP
Adroit Industries (India) IPO Allotment Status
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Finowings IPO Analysis
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