Swastika Castal IPO: Price, Date, GMP, And Valuation

Swastika Castal IPO- Complete Overview

Swastika Castal IPO under the SME IPO category is a fixed price issue of Rs. 14.07 Cr by Swastika Castal Ltd. The company was established in 1996 and has been in the field of aluminium casting, focusing on quality aluminium castings produced by different techniques, including sand, gravity, and centrifugal casting within the manufacturing industry.

It specialises in complex design sand-casting up to 250 kg and offers gravity casting up to 80 kg of notable precision and surface finish quality.

The company’s in-house heat treatment facility provides the company with superior quality control, especially for parts that require precision over mechanical attributes and their stability during dimension changes, which translates to enhancing the operational costs.

Products:

Railways and Diesel Engines: Castings for transportation and heavy machinery which are known for their dependability and strength.

Electrical Equipment and Transmission: Parts of high precision for electrical equipment and transmission.

Industrial Applications: Comprises air compressors, insulators, and general industrial applications.

Swastika Castal IPO Overview

The Swastika Castal IPO date is on 21 July 2025, and its initial public offering will end on 23 July 2025. 

The Rs. 14.07 Crore new SME IPO comprises a wholly fresh issue of 21.64 lac shares.

The Swastika Castal IPO listing date (expected) might be on Monday, Jul 28, 2025, and listing at the BSE and SME.

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Company Financial

(Amount in Cr)

Period	31 Mar 2025	31 Mar 2024	31 Mar 2023
Total Assets	30.83	23.82	26.24
Total Revenue	30.31	23.35	24.41
PAT	2.63	0.65	0.58
Net Worth	10.67	8.03	7.39
Reserves & Surplus	4.67	6.53	5.89
Borrowings	9.12	8.97	9.64

 

 

Cash Flows

(Amount in lac)

Net Cash Flow in Multiple Activities	31 Mar 2025	31 Mar 2024	31 Mar 2023
Net Cash Flow Operating Activities	187.22	189.81	111.88
Net Cash Flow Investing Activities	(129.71)	(74.42)	(90.47)
Net Cash Flow Financing Activities	(97.72)	(172.12)	24.76

 

Revenue Bifurcation

Sales-wise Revenue Bifurcation

(Rs. in lac)

Geography-wise Revenue Bifurcation

(Rs. in lac)

Region-wise Revenue Bifurcation

(Rs. in lac)

 

Continent-wise Revenue Bifurcation

(Rs. in lac)

 

Country-wise Revenue Bifurcation

(Rs. in lac)

(Source: RHP)

 

The Objective of the Issue

The company desires to use the Net Proceeds from the Issue to fulfill its following goals:

• Capital outlay for building and shed construction, and plant and machinery purchase.

• General corporate purposes.

 

 

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Listed Peers of Swastika Castal Ltd.

Company Name	Face Value (Rs.)	EPS (Rs.)	P/E (x)
Thaai Casting Limited	10	4.78	23

 

Evaluation

The Swastika Castal IPO price is Rs. 65 for each Share.

Evaluation of P/E Ratio

Considering the FY ended on 31 Mar 2025 with an EPS of Rs. 4.39 from the last year, the resulting P/E ratio is 14.80x.

Considering the weighted EPS of Rs. 2.72 for the last three years, the P/E ratio is 23.89x

Explore the Savy Infra IPO.

Comparative Analysis With Listed Peers

The average P/E Ratio of the industry is 23x.

Particulars	P/E Ratio (x)
Highest	23
Lowest	23
Average	23

In simple words, the P/E ratio of this IPO is 14.80x, compared with the industry’s average P/E of 23x, indicating an undervaluation (on a P/E ratio basis only). Hence, the price of the Share seems fairly priced for the investors when considered based on the average P/E ratio of the industry.

IPO's Strengths

• A variety of products, most economical reach.

• Continued quality scope.

• The leader's collection.

• Environmental sustainability as a framework.
  
  

IPO’s Weaknesses

• A sizeable portion of the company’s revenue comes from a few major customers. For instance, the top 10 customers contributed over 90% of revenue in FY23-25. Any major impairment in these key clients’ orders will meaningfully impact the financial results of the business.

• A group company that shares promoters with Swastika Castal, Swastika Metcast Private Limited, has been making persistent losses and has a negative net worth. This may pose the risk of impaired direct business reputation or indirect financial liabilities for the latter.

• The financing agreements of the company impose restrictive covenants that require lender consent for important business activities. Any breach of these terms may trigger loan recalls or collateral enforcement, impacting operational capacity and the financial condition.

Swastika Castal IPO GMP

Swastika Castal IPO GMP has not started yet as of 16 Jul 2025 at the time of writing this information.

IPO Timetable (Tentative)

The Swastika IPO date of opening is from Jul 21 to Jul 23, 2025, allotment on Jul 24, refund initiation on Jul 25, and listing on Jul 28, 2025.

Events	Date
IPO Opening Date	Jul 21, 2025
IPO Closing Date	Jul 23, 2025
IPO Allotment Date	Jul 24, 2025
Refund Initiation	Jul 25, 2025
IPO Listing Date	Jul 28, 2025

 

Swastika Castal IPO Details 

The IPO with a Face Value of Rs. 10 per share offers a total issue size of 21,64,000 Shares (Rs. 14.07 Cr) with a market maker portion of 1,10,000 Shares (Rs. 0.715 Cr).

IPO Opening & Closing Date	21 Jul, 2025 to 23 Jul, 2025
Face Value	Rs. 10 per Share
Issue Price	Rs. 65 per Share.
Lot Size	2000 Shares
Issue Size	21,64,000 Shares (Rs. 14.07 Cr)
Offer for Sale	-
Fresh Issue	21,64,000 Shares (Rs. 14.07 Cr)
Listing at	BSE, SME
Issue Type	Fixed Price Issue
Registrar	Accurate Securities & Registry Private Limited

 

 

IPO Lot Details 

Retail investors can invest in a minimum and maximum of 2 Lots (4000 Shares) for Rs. 2,60,000 and in multiples thereof, while for HNI investors, the minimum Lot is 3 (6000 Shares) for Rs. 3,90,000.

Minimum Lot Investment (Retail)	2 Lots
Maximum Lot Investment (Retail)	2 Lots
HNI (Min)	3 Lots

 

IPO Reservation (% of Net Issue)

Market Maker’s Portion	5.08%
Retail’s Portion	47.50%
Non-Institutional Portion	47.41%

 

 Promoters And Management of Swastika Castal Ltd.

• Varun Sharda

• Indra Sharda.
  
  

Pre-Issue Promoter Shareholding	100%
Post-Issue Promoter Shareholding	73.49%

 

IPO Lead Managers

• Horizon Management Private Limited.

 

Dividend Policy

The company has not paid a dividend in the last three fiscal years.

 

Conclusion

Backed by steady revenue growth, a reasonable P/E ratio relative to industry peers, and consistent growth in the aluminium casting sector, Swastika Castal IPO is an opportunity. The company's in-house capacity with vertical integration improves its appeal. However, risks are exposure to customer concentration and promoter-related concerns.

 

Finowings IPO Analysis

Hope you enjoyed the Finowings IPO Analysis. We tried our best to give every required detail about the company that you should know before applying to the IPO. 

You must consult your financial advisor before making any financial decisions. 

To Apply for the IPO, Click Here.

To Read the Prospectus of the Company Click Here to Download the DRHP.

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DISCLAIMER: This blog is NOT any buy or sell recommendation. No investment or trading advice is given. The content is purely for educational and information purposes only. Always consult your eligible financial advisor for investment-related decisions.