1. Company Overview
SJP Ultrasonic Limited (incorporated in January 2012 as SJP Ultrasonics Private Limited and converted into a public limited company) is an Indian industrial technology and automation provider headquartered in Vasai East, Palghar, Maharashtra. The company specializes in plastic joining solutions, industrial automation, and laser processing technology.
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Core Segments & Offerings: Operates across three primary verticals:
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Plastic Joining Solutions: Ultrasonic plastic welding, spin welding, hot plate welding, and vibration welding machinery.
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Industrial Automation: Custom robotic integration, 6-axis automation systems, conveyer automation, and specialized manufacturing assembly lines.
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Laser Technology: $CO_2$ laser cutting, marking units, and high-precision processing tools.
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Manufacturing Infrastructure: Operates a modern manufacturing setup in Vasai East (Maharashtra) equipped with CNC lathe machines, $CO_2$ laser cutters, CMM inspection tools, and robotic programming capabilities.
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Target Sectors: Serves B2B original equipment manufacturers (OEMs) and Tier-1 suppliers across automotive, healthcare & medical devices, electronics, home appliances, and general industrial engineering.
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Promoters: Founded and led by Jignesh Pravinchandra Parekh, Rupal Jignesh Parekh, Parth Jignesh Parekh, Parthvi Jignesh Parekh, and Jignesh Pravinchandra Parekh (HUF).
2. Performance
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Revenue Expansion: Revenue from operations grew from ₹15.22 crore in FY24 to ₹21.15 crore in FY25, and reached ₹26.63 crore in FY26 (~25.9% YoY growth).
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Earnings Trajectory: Net profit (PAT) increased steadily from ₹3.40 crore in FY24 to ₹4.17 crore in FY25, and reached ₹5.24 crore in FY26 (~25.7% YoY growth).
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Margin Profile: Maintained strong profitability margins in FY26, with an EBITDA margin of ~31.2% and a net profit margin (PAT margin) of ~19.7%.
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Return Metrics: Delivered a Return on Equity (ROE) of 38.86% and Return on Capital Employed (ROCE) of 50.80% in FY25.
3. IPO Details
| Parameter |
Details |
| IPO Bidding Dates |
September 30, 2026 – October 5, 2026 |
| Tentative Listing Date |
October 8, 2026 (BSE SME Platform) |
| Issue Price |
₹67 per equity share (Fixed Price Issue) |
| Face Value |
₹10 per equity share |
| Total Issue Size |
35,00,000 Equity Shares (aggregating up to ₹23.45 Crore) |
| Fresh Issue Portion |
35,00,000 Equity Shares (100% Fresh Issue, 0 OFS) |
| Market Maker Reservation |
1,76,000 Equity Shares (~₹1.18 Crore) |
| Net Offer to Public |
33,24,000 Equity Shares (~₹22.27 Crore) |
| Allocation Structure |
Retail Investors (RII): 50% | Non-Institutional (NII): 50% |
| Minimum Retail Lot Size |
1 Lot (2,000 shares) = ₹1,34,000 |
| Minimum S-HNI Lot Size |
3 Lots (6,000 shares) = ₹4,02,000 |
| Book Running Lead Manager |
Khandwala Securities Limited |
| Registrar to the Issue |
Maashitla Securities Private Limited |
| Market Maker |
Aftertrade Broking Pvt. Ltd. |
Objects of the Fresh Issue
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Capital expenditure for purchasing plant machinery (CNC lathe, 6-axis robots, $CO_2$ laser unit, CMM machine, overhead crane) (~₹13.22 Crore).
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Funding working capital requirements (~₹4.92 Crore).
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General corporate purposes (~₹3.05 Crore).
4. Financial Details
Financial Summary (Amounts in ₹ Crore)
| Financial Metric |
FY24 |
FY25 |
FY26 |
| Total Income |
₹15.22 |
₹21.15 |
₹26.63 |
| EBITDA |
₹5.43 |
₹6.93 |
₹8.32 |
| Profit After Tax (PAT) |
₹3.40 |
₹4.17 |
₹5.24 |
| Net Worth |
₹6.73 |
₹14.85 |
₹20.09 |
| Total Borrowings |
₹2.01 |
₹2.41 |
₹5.78 |
| Total Assets |
₹16.97 |
₹27.06 |
₹35.20 |
Key Valuation Ratios & Metrics (FY26)
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Pre-Issue Share Capital: 94,40,000 equity shares
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Post-Issue Share Capital: 1,29,40,000 equity shares
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Implied Market Capitalization: ₹86.70 Crore (at ₹67/share)
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Pre-Issue EPS: ₹5.55
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Post-Issue EPS: ₹4.05
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Pre-Issue P/E: 12.07x
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Post-Issue P/E: 16.54x (at ₹67 issue price)
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Promoter Holding: 79.51% (Pre-IPO) $\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\rightarrow$ 58.00% (Post-IPO)
