- POSITIVE
Annual Revenue Swastika Infra Mar-2026 Annual Revenue is Rs 506 Cr which is growth of 43.4% YoY.
- POSITIVE
Annual Net Profit Swastika Infra Mar-2026 Annual Net Profit is Rs 41 Cr which is growth of 50.9% YoY.
Swastika Infra was incorporated on October 23, 1969. The company specializes in EPC Power Projects, offering turnkey solutions from procurement to commissioning. Its services include underground cabling, substation construction, rural and urban electrification, and street lighting installation
| Bidding Dates |
|---|
| 23 Sep 2026 - 25 Sep 2026 |
| Subscription |
|---|
| 7.6x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,175 | 1 | 13 | 81 | 8.7 M | ₹175 - ₹185 | 57.36 % | ₹1,526.5 M - ₹1,613.7 M | RHP DOC |
Swastika Infra IPO SUBSCRIPTION STATUS
25 Sep '26Total7.6x
Retail Individual Investor5.39x
HNI (NII) Investors18.5x
Qualified Institutional Buyers3.22x
Swastika Infra IPO overall subscription rate was 7.6 times the total available shares
Swastika Infra IPO retail subscription rate was 5.39 times in the retail segment
Swastika Infra IPO non-institutional investor subscription rate was 18.5 times in the non-institutional investor category
Swastika Infra IPO Qualified Institutional Bidder subscription rate was 3.22 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
25 Sep 2026 (Day 3) | 5.39x | 18.5x | 3.22x |
24 Sep 2026 (Day 2) | 1.59x | 2.58x | 1x |
23 Sep 2026 (Day 1) | 0.71x | 1.9x | 0.69x |
Swastika Infra FINANCIALS
| Period | Revenue from Operations (Rs in crore) | Net Profit (Rs in crore) | Cash Flow from Operations (Rs in crore) | Free Cash Flow (Rs in crore) | Margins |
| FY26 | 503.6 | 41.4 | -9.7 | -15.1 | 14.07% |
| FY25 | 350.8 | 27.4 | -76.5 | -77.1 | 12.5% |
| FY24 | 209.6 | 14.0 | -3.3 | -4.2 | 11.3% |
Swastika Infra IPO SUBSCRIPTION STATUS DETAILS
Swastika Infra had 8.7 M shares on offer
Swastika Infra IPO offer price was in the range ₹175 - ₹185
Swastika Infra IPO minimum Investment was ₹14175
Swastika Infra IPO issue size was ₹ 1,526.5 M - ₹ 1,613.7 M
Swastika Infra had a minimum lot size of 81 Shares per application
Swastika Infra NUMBER OF SHARES ON OFFER
Total8.7 M
Fresh Issue7.0 M
Offer for Sale1.8 M
Post Issue Promoter Holding %57.36 %
Swastika Infra IPO IMPORTANT DATES
| Issue Open Date | 23 Sep 2026 |
| Issue close Date | 25 Sep 2026 |
| Allotment Date | 28 Sep 2026 |
| Refund Date | 29 Sep 2026 |
| Demat Account Credit Date | 29 Sep 2026 |
| Listing Date | 30 Sep 2026 |
| Listing on Exchange(s) | NSE and BSE |
| Swastika Infra Allotment Status | Exchange/ Registrar |
Swastika Infra IPO subscription opened on 23 Sep 2026, and closed on 25 Sep 2026
IPO allotment for Swastika Infra was finalized on Monday, 28 Sep 2026
IPO listing for Swastika Infra was on NSE and BSE on Wednesday, 30 Sep 2026
Swastika Infra IPO LISTING GAINS
| Issue Price (adjusted) | 185.0 |
| Listing Open Price | 200.0 |
| Listing Close Price | 210.0 |
| Listing Gain% | 8.1% |
| Current Gain% | 18.6% |
Swastika Infra Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Swastika Infra Ltd. | 219.4 | 749.1 | 18.1 | 0.4 | 1.5 | 26.4 | 10 | 505.6 | 43.4 | 41.4 | 50.9 | 12.1 | 50.9 |
| Bharat Heavy Electricals Ltd. | 433.6 | 150982.3 | 62.1 | 0.1 | 4.2 | 6.1 | 2.1 | 34589.8 | 20.1 | 1600.3 | 199.7 | 7 | 739.4 |
| ABB India Ltd. | 6780 | 143673.9 | 48.1 | 10.6 | 21.3 | 12.2 | 13555.1 | 8.1 | 1668.3 | -10.9 | 141 | ||
| Hitachi Energy India Ltd. | 30605 | 136413.8 | 118.6 | 0.9 | 14.9 | 19.1 | 8.2 | 8387.6 | 30.2 | 987.8 | 157.3 | 258.1 | 127.7 |
| CG Power and Industrial Solutions Ltd. | 855.6 | 134789.2 | 107.8 | 4.4 | 10.5 | 15.1 | 9.5 | 12662.2 | 25.7 | 1206.3 | 23.8 | 7.9 | 24.7 |
| Siemens Ltd. | 3595 | 128025.3 | 39.1 | 1.2 | 7 | 19.9 | 12.9 | 25598.6 | 10.5 | 2751.6 | 1.3 | 92 | 33.7 |
Annual
Balance Sheet
Ratios
Cash Flow
Swastika Infra annual results: revenue, profit, P&L, and margins as of Mar 2026 – 11 year history
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| Indicator | Graph | Mar '26 | Mar '25 | Mar '24 |
|---|---|---|---|---|
| 505.6 | 352.6 | 211.3 | ||
Operating Exp. Ann. | 432.7 | 306.8 | 185.8 | |
Operating Profit Ann. | 70.9 | 43.9 | 23.8 | |
OPM Ann. % | 14.02% | 12.46% | 11.24% | |
| 450.2 | 315.6 | 192.5 | ||
EBITDA Ann. | 72.9 | 45.8 | 25.5 | |
EBITDA Ann. margin % | 14.41% | 12.98% | 12.08% | |
Interest Ann. | 16.9 | 8.2 | 6 | |
Depr. | 0.6 | 0.6 | 0.7 | |
PBT Ann. | 55.3 | 37 | 18.8 | |
Tax Ann. | 13.9 | 9.6 | 4.9 | |
| 41.4 | 27.5 | 14 | ||
Net Profit Ann. | 41.4 | 27.5 | 14 | |
NPM Ann. % | 8.22% | 7.82% | 6.67% | |
EPS Adj. latest Ann. | 12.1 | 8 | 4.1 |
*All financials are in INR Cr and price data in INR
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Total Rev. Ann.
1Y CHG
43.4%
2Y CAGR
54.7%
Net Profit Ann.
1Y CHG
50.5%
2Y CAGR
72%
Operating Exp. Ann.
1Y CHG
41%
2Y CAGR
52.6%
Swastika Infra IPO Reports
Swastika Infra INFORMATION ON IPO ISSUE
About Swastika Infra
Swastika Infra was incorporated on October 23, 1969. The company specializes in EPC Power Projects, offering turnkey solutions from procurement to commissioning. Its services include underground cabling, substation construction, rural and urban electrification, and street lighting installation
Object of the Issue
- Funding incremental working capital requirements of the company
- General corporate purposes
Swastika Infra - PROMOTERS
| Name |
|---|
| Babulal Gupta |
| Vinay Gupta |
| Ruchira Gupta |
| Biren Parnami |
| Manoj Modi |
| Vatsalya Gupta |
Swastika Infra - MANAGEMENT & LEADERSHIP
| Name | Designation |
|---|---|
| Babulal Gupta | Chairman & Non-Executive Director |
| Vinay Gupta | Managing Director |
| Ruchira Gupta | Whole-Time Director |
| Madhvi Sharma | Independent Director |
| Ajay Gupta | Independent Director |
| Dileep Kumar Jain | Independent Director |
Swastika Infra Book Running Lead Manager
Srujan Alpha Capital Advisors LLP
projectinfra@srujanalpha.com
Phillipcapital (India) Private Limited
projectInfra-pc@phillipcapital.in
Swastika Infra Registrar to the Offer
MUFG Intime India Private Limited
swastikainfra.ipo@in.mpms.mufg.com
Swastika Infra Strengths
Scalable business model
In the EPC industry, the Order Book represents the value of unexecuted project contracts, offering visibility into future revenue and resource planning. A growing Order Book reflects strong contract acquisition, financial stability a,nd market expansion
Strength
Asset-light business model
Operating under an asset-light model, the company leases project-specific assets instead of owning heavy machinery, reducing costs and enhancing efficiency. This approach ensures lean operations, lower fixed expenses, and greater financial flexibility
Strength
Swastika Infra Risks
Capital intensive
The business requires high working capital with long implementation cycles. Insufficient cash flow for debt payments or working capital could adversely impact operations and financial performance
Risk
Implementation risks
Ongoing projects face implementation risks, delays, modifications, or cancellations beyond the company's control, potentially impacting business, financial condition, and operations
Risk
Order book risks
The Order Book may not accurately reflect future results, and actual income could be lower than estimated, potentially impacting business, financial condition, and growth prospects
Risk
IPO FAQs
This IPO consists of an offer for sale of up to Rs 32.4 crore, of 1,750,000 shares. It also consists of a fresh issue of Rs 129.0 crore.
The promoters of the company are Babulal Gupta, Vinay Gupta, Ruchira Gupta, Biren Parnami, Manoj Modi and Vatsalya Gupta.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 175.0 - 185.0.
The IPO application opens on Sep 23, 2026 and closes on Sep 25, 2026.
The minimum lot size for the IPO is 81. The maximum lot size for the IPO is 1053.
For all category investors, the minimum application amount for this IPO is Rs. 14,175.0, the maximum value for this IPO is Rs 194,805.0.
This IPO will be allotted on Sep 28, 2026.
The refund will be credited to your account on Sep 29, 2026.
The allotted shares will be credited to your demat on Sep 29, 2026.
Swastika Infra Ltd.’s shares listed on the stock exchanges on Sep 30, 2026.