Teja Engineering Industries Ltd IPO
Engineering
Price Band
₹220 – ₹220
Lot Size
600
Minimum Bid Quantity
1200
Minimum Investment
₹264000
Issue Size
₹37.36Cr
Opens
2026-06-30
Closes
2026-07-02
Listing
07-07-2026
Subscription Status
Qualified Institutional Buyers
0 x
Non-Institutional Investor
0.1 x
Retail Individual Investor
0.01 x
Total
0.06 x
IPO Details
Issue Type
EQUITY
Face Value
₹10
Tick Size
1
ISIN
INE0R1301019
Pre-Apply Available
No
Daily Bidding Time
10:00:00 - 17:00:00
About the Company
Teja Engineering Industries Limited provides engineering services for the oil & gas, power, and energy sectors. The company primarily offers operations & maintenance (O&M) services, along with erection & commissioning (E&C), project execution, instrument calibration, overhauling, decommissioning and recommissioning, stainless-steel tubing installation, nondestructive thickness testing, and testing and servicing of safety relief valves. It serves OEMs, CNG compressor packagers, and public sector undertakings involved in gas distribution and energy infrastructure. The company operates across 15 states in India and deploys its workforce at client sites to support CNG stations, gas compression plants, and natural gas distribution terminals. It follows a service-based business model and does not manufacture equipment. As of August 31, 2025, the company had completed over 300 CNG compressor station projects, managed O&M services for more than 550 units across India, and executed 533 O&M projects and 25 E&C projects during the period.
Pros
- • The company claims to have a pan-India operational presence spanning 16 states and Union Territories, including Gujarat, Maharashtra, Andhra Pradesh, Tamil Nadu, Kerala, Karnataka, Goa, Madhya Pradesh, Rajasthan, Odisha, West Bengal, Bihar, Jharkhand, Dadra & Nagar Haveli, and Assam. Its teams are deployed at client sites such as CNG stations, gas compression plants, and group gathering stations to carry out operations and maintenance work.
- • The company claims to manage operations & maintenance (O&M) services for over 550 units across India, covering day-to-day operations, preventive and breakdown maintenance, spare parts supply, and troubleshooting for gas compression plants, CNG filling and distribution stations, and gas/diesel generator sets.
- • The company holds PESO certification under the SMPV(U) Rules, 2016 (Rule 18), which authorises it to test safety relief valves (SRVs) and pressure safety valves (PSVs). It is also a recognised authorised service provider in India for a globally renowned manufacturer of safety relief valves.
Cons
- • The company derives the majority of its revenue from operations & maintenance (O&M) services. O&M services contributed Rs 51.67 crore (93.57%), Rs 36.45 crore (91.10%), and Rs 21.66 crore (88.14%) of total revenue in FY25, FY24, and FY23, respectively. Any decline in demand, pricing pressure, delays in contract renewals, or loss of O&M contracts could materially impact revenue, cash flows, and profitability.
- • The top 10 customers contributed Rs 54.64 crore (98.95%), Rs 31.40 crore (99.32%), and Rs 24.56 crore (99.94%) of revenue in FY25, FY24, and FY23, respectively, while the single largest customer contributed Rs 21.41 crore (38.77%), Rs 22.63 crore (71.59%), and Rs 21.06 crore (85.68%) during the same periods. The loss of any major customer or a reduction in business from them could significantly affect the company's financial performance.
- • The company has reported negative operating cash flows in the last three financial years, amounting to Rs 0.92 crore, Rs 9.07 crore, and Rs 0.77 crore in FY25, FY24, and FY23, respectively, primarily due to higher inventory and trade receivables. If cash outflows continue to exceed inflows, the company may face liquidity challenges in the future.
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