Teerth Gopicon Limited, established in 2019, specializes in infrastructure projects including road construction and the development of sewerage and water supply systems in Madhya Pradesh. The firm has also engaged in residential construction, notably completing a tower in Indore as a subcontractor.
The organization is a certified contractor for several central and state government bodies such as ISCDL, IMC, USCL, UMC, and MPJNM, and has executed a variety of projects in the private sector as well.
Its portfolio encompasses a diverse array of civil engineering projects, including the construction of buildings, water supply systems, pipelines, sewage networks, sewage treatment plants, Nalla taps, reuse networks, overhead tanks, GSR, road construction, and lake rehabilitation.
As of February 29, 2024, Teerth Gopicon Limited employed 164 permanent staff across different departments, including workmen.
Industry Outlook
- The National Infrastructure Pipeline (NIP) now includes 9,142 projects, with 2,476 in the development phase requiring an investment of US$ 1.9 trillion. Significant efforts are focused on the transportation sector, especially roads and bridges.
- The Indian government has raised the infrastructure capital investment for 2023-24 to ₹10 lakh crore (US$ 122 billion), a 33% increase, with a record ₹2.40 lakh crore (US$ 29 billion) dedicated to the Railways, indicating a strong commitment to enhancing national infrastructure.
Teerth Gopicon Ltd IPO Details
Teerth Gopicon Ltd IPO Dates
Teerth Gopicon IPO is open from April 8, 2024, to April 10, 2024. The IPO will be listed on NSE Emerge.
Teerth Gopicon Ltd IPO Price Band
Teerth Gopicon is a fixed price issue. The price band is set at ₹111 per share.
Teerth Gopicon Ltd IPO Lot Size
The lot size for Teerth Gopicon Limited’s IPO is 2,000 shares with a minimum investment of ₹1,33,200.
Teerth Gopicon Ltd IPO Objectives
The company plans to allocate the net proceeds from the issuance to the following purposes:
- Funding of working capital requirements of the Company
- General Corporate Expenses
Peer Details
The following are the listed peers of Teerth Gopicon:
- Man Infraconstruction Limited
- ITD Cementation India Limited
- Likhitha Infrastructure Limited
- Udayshivakumar Infra Limited
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Contact Details of Teerth Gopicon Ltd
Registered office: 703, Sapath Complex-I, Opp. Rajpath Club, Near Madhur Hotel, Bodakdev, Ahmedabad-380054, Gujarat, India
Phone: +91 9979840806
E-mail: investor@teerthgopicon.com
IPO Financials
| Particulars | For the period Ended on September 30, 2023 | Year ending on March 31, 2023 | Year ending on March 31, 2022 |
|---|---|---|---|
| Total Income (in ₹ lakh) | 3,741.78 | 3,914.87 | 3,120.77 |
| Profit After Tax (PAT) (in ₹ lakh) | 339.52 | 179.22 | 15.27 |
| Cash & Cash Equivalents (in ₹ lakh) | 215.68 | 532.87 | 216.53 |
| Net Worth (in ₹ lakh) | 1,128.23 | 788.70 | 609.49 |
| Debt to Equity Ratio(x) | 0.48 | 0.43 | 2.24 |
| Return on Equity (%) | 30.09% | 22.72% | 2.50% |
| Return on Net Worth (RoNW) (%) | 30.09% | 22.72% | 2.50% |
| Earning Per Share (EPS)-in absolute ₹ | 6.79 | 3.58 | 0.31 |
Know before investing
Strengths
3Teerth Gopicon Limited excels in efficiently managing and completing a wide range of infrastructure projects on time and within budget. Led by Maheshbhai Khumbhani, the team's extensive industry experience positions the company for future growth and market expansion.
The company has a strong presence in Madhya Pradesh, completing several critical projects under the Smart Cities Mission and Jal Jeevan Mission. This includes four major projects in Indore and three significant water supply schemes, showcasing its capability and trustworthiness in crucial development sectors.
Teerth Gopicon Limited has invested ₹248.03 lacs in essential plant and machinery up to September 2023, enhancing its self-reliance and reducing external dependencies. This investment facilitates timely project delivery and minimises contractual risks, underlining the company's commitment to leveraging technology for operational efficiency.
Risks
3Teerth Gopicon Limited's operations are exclusively in Madhya Pradesh, relying entirely on state government, local authority projects, and associated entities for revenue. This concentration could lead to significant business impact due to regional economic, political, or regulatory changes.
The company's registered office in Ahmedabad and corporate office in Indore are leased from related parties with agreements due to expire in November 2026 and November 2026 respectively. Non-renewal could disrupt operations and impact profitability and brand image.
A large portion of revenue is derived from a limited number of clients, with 100% of FY2023 revenue from just five clients. Loss or reduction in business from any key client could significantly affect financial stability and future revenue streams.
