Adroit Industries IPO Analysis & Review

Quick Answers

What is the Adroit Industries IPO GMP today? The Adroit Industries IPO GMP is ₹34 as of 23/9/2026, 5:09:34 am. The IPO price band is ₹126 - ₹134. GMP represents an unofficial grey-market indication and does not guarantee the listing price.

When does Adroit Industries IPO open? The Adroit Industries IPO opens on 2026-09-23 and closes on 2026-09-25.

What is the Adroit Industries IPO subscription status? The overall subscription is 0x.

Key IPO Information

ViewIPO AI Analysis Score

The Adroit Industries IPO scored 60/100 (Moderate Risk) in our deep analysis.

Frequently Asked Questions

What products does Adroit Industries manufacture?

Adroit Industries manufactures propeller shafts and related torque-transmission components for automotive and non-automotive applications, offering over 5,250 SKUs as of July 2026.

What is the company's export orientation and which regions contribute most?

Exports accounted for 95.39% of FY26 revenue, with the United States representing 53.76% of export sales; the company serves customers in more than 32 countries across North America, Europe, Latin America, the Middle East, Africa, and Asia-Pacific.

How has the company's financial performance trended over the last three years?

Revenue increased from ₹124.53 crore in FY24 to ₹133.89 crore in FY25 and ₹139.94 crore in FY26. Profit after tax rose from ₹14.53 crore to ₹18.14 crore and then to ₹26.16 crore over the same period, with PAT margin improving to 18.69% in FY26.

What are the key risks associated with the company's dependence on the US market?

The company's exports to the US are subject to an additional 25% tariff under Section 232 of the Trade Expansion Act of 1962; continuation or increase in such tariffs could affect competitiveness and financial performance.

What is the company's debt position and how has it changed recently?

As of July 31, 2026, aggregate outstanding borrowings were ₹68.98 crore, and the debt-to-equity ratio improved from 0.94 in FY24 to 0.63 in FY25 and 0.41 in FY26, indicating declining leverage.

What is the purpose of the IPO proceeds?

The IPO proceeds are intended to fund capital expenditure for machinery and equipment at the Dewas and Pithampur facilities, including transportation vehicles for moving goods between manufacturing sites, and to invest in the subsidiary Adroit Driveshafts Private Limited for similar capacity expansion.

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Home›India›Adroit Industries ()
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Adroit IndustriesNSE / BSE:

Analyzed by ViewIPO Financial Research Team
Automotive ComponentsIndiaFiled 2026-09-23Listing 2026-09-30Size ₹151.06Cr
Lot Size 111
Live GMP
₹34 (+25.37%)
Check Allotment
Status Link

Is Adroit Industries IPO Good? Quick Verdict

Adroit Industries IPO scored 60/100 (Moderate Risk) in our deep analysis. The strongest pillar is Financial at 72/100, while Competition is the primary concern at 45/100. Adroit Industries presents a mixed profile with strong export-driven growth and improving profitability, but faces risks from customer concentration, geographic concentration of manufacturing, and exposure to US trade tariffs.

IPO Score
60/100
Moderate Risk

Quick Verdict

Strong export orientation with 95.39% of FY26 revenue from exports.
Improving financial health: debt-to-equity down to 0.41 and RoCE up to 19.01% in FY26.
High customer concentration: top 10 customers contribute 60.86% of revenue.
Significant unhedged foreign currency exposure and forex losses in prior years.

Company Snapshot

Revenue (TTM)
₹139.94Cr↑ 4.52% YoY
Profitability
PositiveNet Income ₹26.16Cr
Gross Margin
— 
Market Cap
—Pending Data
IPO Size
₹151.06Cr 
Industry
Automotive Components 
P/E Ratio
—Pending Data
Debt to Equity
0.41xLeverage
RoNW
22.51%Return on Net Worth

Risk Breakdown

Governance
65
Moderate
Financial
72
Moderate
Valuation
50
Expensive
Competition
45
Expensive
Dilution
60
Moderate
Promoter / Mgmt
60
Moderate

AI Summary

Adroit Industries India Ltd is a manufacturer of propeller shafts and torque-transmission components serving automotive and non-automotive markets. The company reported revenue growth from ₹124.53 crore in FY24 to ₹139.94 crore in FY26, with profit after tax rising to ₹26.16 crore and an export contribution of 95.39% of sales. While the firm benefits from a diversified product portfolio and vertically integrated manufacturing, it remains exposed to US‑specific tariffs, customer concentration, and unhedged foreign currency risk.

Overall Verdict: Adroit Industries presents a mixed profile with strong export-driven growth and improving profitability, but faces risks from customer concentration, geographic concentration of manufacturing, and exposure to US trade tariffs.

Key Highlights

  • •Manufacturer of propeller shafts and torque-transmission components with over 5,250 SKUs as of July 2026.
  • •Vertically integrated manufacturing across forging, machining, heat treatment, assembly, balancing and testing in three MP facilities.
  • •Strong export orientation: 95.39% of FY26 revenue from exports, serving >32 countries.
  • •High repeat customer base: 90.26% of FY26 revenue from repeat customers.
  • •Consistent revenue and profit growth: revenue rose from ₹124.53 Cr FY24 to ₹139.94 Cr FY26; PAT grew from ₹14.53 Cr to ₹26.16 Cr.
  • •Improving financial leverage: debt-to-equity fell from 0.94 FY24 to 0.41 FY26; RoCE rose to 19.01% and RoNW to 22.51%.
  • •Diversified customer mix: 185 customers in FY26 including 153 distributors, 13 Tier-1 suppliers and 22 OEMs.

Financial Performance

Revenue (Annual)

↑ +4.5% YoY

INR in Crores

Net Income (Annual)

↑ +44.2% YoY

INR in Crores

EBITDA vs PAT

EBITDA YoY

INR in Crores

EBITDA
PAT

IPO Timeline

IPO Opens2026-09-23
IPO Closes2026-09-25
Basis of Allotment2026-09-28
Refunds & Demat2026-09-27
Listing Date2026-09-30

Valuation Analysis

IPO Price₹126 - ₹134
Estimated Fair Value
Pending Data
Valuation Premium
Pending
vs Fair Value

IPO DNA

Growth
58
Governance
65
Profitability
72
Valuation
50
Competition
45
Execution
60

Pros vs Cons

Pros

  • Broad product portfolio with over 5,250 SKUs, increasing steadily.
  • Vertically integrated manufacturing reduces reliance on third-party vendors.
  • High repeat customer revenue (90.26% in FY26) indicating strong customer relationships.
  • Strong export presence (95.39% of FY26 revenue) with diversified global footprint.
  • Improving profitability and returns: PAT margin 18.69% in FY26, RoCE 19.01%, RoNW 22.51%.
  • Declining leverage: debt-to-equity ratio improved to 0.41 in FY26.

Cons

  • Significant dependence on US export market (53.76% of export sales) exposing to Section 232 tariffs (25%).
  • Substantial unhedged foreign currency exposure; recorded forex losses in FY24 and FY25.
  • Revenue concentration: top 10 customers accounted for 60.86% of FY26 revenue.
  • Manufacturing facilities geographically concentrated in Madhya Pradesh, creating operational risk.
  • Outstanding legal proceedings involving the company, its directors and promoters.
  • Dependence on limited suppliers: top 10 suppliers accounted for 75.97% of purchases in FY26.
  • Negative cash flows from financing activities in recent years (₹16.99 cr FY26) due to debt repayments.

Financial Health

Revenue Growth
Revenue grew 7.5% YoY in FY25 and 4.5% YoY in FY26 (Moderate)
Debt Level
Debt-to-equity ratio of 0.41 as of FY26 (Excellent)

Institutional Signals

Anchor Investors
Undisclosed
VC Backing Tier
Undisclosed
Strategic Partners
Undisclosed

Adroit Industries IPO Reddit Pulse & Sentiment

Real-time Reddit discussions & retail sentiment

No Public Data Available

We couldn't find any significant public discussions or retail sentiment threads for this IPO at the moment.

Disclaimer: These are raw community discussions aggregated from public forums. The AI summary and Reddit comments do not constitute financial advice. Always conduct your own independent research.

Adroit Industries IPO — Frequently Asked Questions

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IPO Terminology Explained

Confused by terms like GMP, Kostak, or Subject to Sauda? Read our detailed guides in the IPO Glossary to understand the terminology before you invest.

Grey Market Premium (GMP)Subject to SaudaASBAOffer for Sale (OFS)
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Source Citation: All financial data and risk metrics are derived from the official prospectus filed with the regulator (SEBI DRHP/RHP). ViewIPO algorithms process this public data for informational purposes. Not financial advice.

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Frequently Asked Questions about Adroit Industries

What is the expected listing price of Adroit Industries?

The expected listing price depends on the live Grey Market Premium. Check the live GMP and expected listing price for Adroit Industries on our Live GMP Tracker.