Vishnusurya Projects and Infra is engaged in the mining of rough stones and the manufacturing of aggregates and manufacture-sand by using crushing plants and sand washing plants. Apart from mining activities, they are engaged in EPC Projects in construction and infrastructure delivered across multiple key sectors such as water, transportation, rail, real estate, infrastructure, etc. Their clients include the government as well as autonomous and private bodies in the state of Tamil Nadu. The company operates in a third segment, that is Drones as a Service, for surveillance, mapping and surveying purposes.
They have their in-house design and engineering team, who are, in turn, supported by an internal procurement team that provides them with a fleet of machinery and equipment for the execution of EPC projects and mining activities. The company also enters into joint venture projects for certain infrastructure projects.
The overall capital expenditure on infrastructure is estimated to grow at a CAGR of 11.4% over FY 2021-26 in India, driven by spending on water supply, transport and urban infrastructure. This will provide Vishnusurya Projects and Infra with ample growth opportunities in the coming years.
Vishnusurya Projects and Infra Ltd IPO Details
Vishnusurya Projects and Infra Ltd IPO Date
Vishnusurya Projects and Infra IPO is open from September 29, 2023 to October 4, 2023.
Vishnusurya Projects and Infra Ltd IPO Price Band
Vishnusurya Projects and Infra is a fixed-price IPO, with the price set at ₹68 per share.
Vishnusurya Projects and Infra Ltd IPO Lot Size
The Vishnusurya Projects and Infra Ltd IPO lot size is 2,000 shares per lot.
Vishnusurya Projects and Infra Ltd IPO Objectives
The net proceeds of the fresh issue are proposed to be utilised in the following manner:
- Funding of working capital requirements of the company.
- Repayment/prepayment, in part or full, of certain outstanding borrowings availed by the company.
- General Corporate Purposes.
Peer Details
The companies considered by Vishnusurya Projects and Infra as its peers include:
- Rachana Infrastructure Ltd.
- Sonu Infratech Ltd.
- A B Infrabuild Ltd.
How to Check the Allotment Status of the Vishnusurya Projects and Infra Ltd IPO?
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Contact Details of Vishnusurya Projects and Infra Ltd
Registered office: 2nd Floor, Qbas Temple Tower, No. 76/25, North Mada Street, Mylapore, Chennai-600 004, Tamil Nadu, India.
Phone: +91 44 2495 0019
E-mail: cs@vishnusurya.com
Vishnusurya Projects and Infra Company Financials
| Financial year | Year Ending on March 31, 2023 ( ₹ in lakh ) | Year Ending on March 31, 2022 ( ₹ in lakh ) |
|---|---|---|
| Total Income | 13,326.06 | 9,603.62 |
| Profit for the Year | 1,736.64 | 2,158.97 |
| Current Ratio (x) | 2.29 | 1.44 |
| Return on Capital Employed | 31.22% | 18.98% |
| Debt Service Coverage Ratio | 3.15 | 5.36 |
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Strengths
3The company is focused on strengthening its core competency in EPC projects by growing the capabilities of its in-house engineering team.
They are looking forward to expanding to new regions both inside and outside of Tamil Nadu.
In the past 3 years, they have massively improved their revenue, profitability, solvency and capital efficiency.
Risks
3The company has suffered from a negative cash flow of ₹136.29 lakh in the year ending in March 2023. Sustained negative cash flows can affect the company’s solvency and operations.
Regular joint ventures expose the company’s revenues to the risk of non-performance of the partner company.
The company’s revenue sources are concentrated in Tamil Nadu. Issues in the state due to natural hazards, economic downturns or regulatory changes can disrupt the company’s operations and revenues.
