Oswal Pumps Ltd IPO
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Oswal Pumps Ltd IPO Details
Details
| Total Shares Offered | Offer to Public | Retail Max (Shares) | Pre Issue Promoters Holding | Exchange | Issue size |
|---|---|---|---|---|---|
| ₹ 225.95 L | ₹ 81 L | ₹ 79.08 L | ₹ 993.62 L | BSE | ₹ 1387.34 Cr |
| IPO Open Date | Close Date | Lot Size | Min Investment | Issue Type | Listing Date |
| 13 Jun, 25 | 17 Jun, 25 | 24 | ₹ 14,016 | Book Building | 20 Jun, 25 |
Oswal Pumps Ltd IPO Dates
Details
| Sector | Type |
|---|---|
| Sector | Pumps |
| Sub Sector | NA |
| Issue Type | Book Building |
Subscription Status
*Values are in Lakhs
| Investor Type | Subscription Times | Shares Offered* | Shares Bid* |
|---|---|---|---|
| QIB | 35.42x | 11297557 | 400138176 |
| NII | 37.91x | 3389267 | 128470944 |
| Retail | 3.72x | 7908290 | 29433576 |
| Employee | 0x | 0 | 0 |
| Total | 24.7x | 22595114 | 558042696 |
Subscription Status
Investor Type
QIB
NII
Retail
Employee
Total
*Values are in Lakhs
Oswal Pumps Ltd Financial Status
Income Statement
Balance Sheet
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Revenue from operations | 758.57 | 385.04 | 360.38 |
| EBITDA | 134.28 | 62.12 | 63.69 |
| PAT | 88.99 | 34.21 | 33.46 |
| Total Assets | 393.04 | 165.52 | 167.02 |
| Share Capital | 5.85 | 5.85 | 5.85 |
| Total Borrowings | 104.51 | 63.70 | 73.91 |
| Operating Activities (Net Cash) | 96.90 | 41.96 | 41.72 |
| Investing Activities (Net Cash) | 11.88 | -2.55 | 3.51 |
| Financing Activities (Net Cash) | 104.51 | 63.70 | 73.91 |
| Net Cashflow | 3.56 | 7.78 | 15.80 |
Particulars (in Rs. Crores)
Revenue from operations
EBITDA
PAT
Total Assets
Share Capital
Total Borrowings
Operating Activities (Net Cash)
Investing Activities (Net Cash)
Financing Activities (Net Cash)
Net Cashflow
About Oswal Pumps Ltd
Oswal Pumps Limited was incorporated on July 15, 2003 at New Delhi, India as `Oswal Pumps Private Limited', a private limited company under the Companies Act, 1956 and was granted a certificate of incorporation by the RoC. The Company was then converted into a public limited company under the Companies Act, 1956, pursuant to the Shareholders' resolution dated October 24, 2006, consequent to which, the name of the Company was changed to `Oswal Pumps Limited' and a fresh certificate of incorporation dated November 15, 2006 was issued by the RoC.
The Indian pump market was Rs. 380.5 billion in Fiscal 2025 and is expected to reach Rs. 591.9 billion in Fiscal 2030, growing at a CAGR of 9.2% between Fiscal 2025 and 2030. The Indian pump industry is segmented into the agricultural pumps, industrial pumps, and residential pumps; agricultural pumps sector is expected to grow at a CAGR of 8.4%. The Indian solar pump market was valued at Rs. 164.5 billion in Fiscal 2025 and is expected to grow at a CAGR of 11.0% between Fiscal 2025 and 2030, expected to reach Rs. 271.1 billion by Fiscal 2030. (Source: 1Lattice Report). We face competition from domestic and international manufacturers for monoblock and submersible pumps, electric motors and solar modules. Technology, price, design, quality, delivery, and engineering capabilities are the primary elements of competition in our industry (Source: 1Lattice Report). Our peers are Kirloskar, Shakti Pumps, C.R.I. Pumps, WPIL Limited, KSB Pumps and Roto Pumps.
We manufacture solar-powered and grid-connected submersible and monoblock pumps, electric motors comprising induction and submersible motors as well as solar modules, which we sell under the `Oswal' brand. We have over 22 years of experience in pumps encompassing engineering, product design, manufacturing and testing. Our product portfolio allows us to address the diverse requirements of our end-users in the agricultural, residential and industrial sectors. Our operations are supported by two manufacturing facilities situated at Karnal, Haryana. One facility is dedicated to the production of pumps and motors, while the other focuses on manufacturing solar modules.
Peer Comparison:
- Oswal Pumps Limited
- Kirloskar Brothers Limited
- Shakti Pumps (India) Limited
- WPIL Limited
- KSB Limited
- Roto Pumps Limited
Oswal Pumps Ltd IPO Key Points
Strengths
- One of the largest supplier of solar powered agricultural pumps under the PM Kusum Scheme, well positioned to capitalise on strong industry tailwinds.
- Vertically integrated manufacturing competencies.
- Strong engineering and design capabilities.
- Comprehensive product portfolio in multiple product specifications.
- Strong presence in major agricultural states in India including Haryana and growing presence in other states.
Risk
- The company derives a signification portion of its revenues from the supply of Turnkey Solar Pumping Systems which are awarded on a tender basis by state and central Government institutions under the PM Kusum Scheme (Rs. 7,732.07 million, Rs. 3,274.15 million, nil and nil from the supply of the Turnkey Solar Pumping Systems directly under the PM Kusum Scheme in the nine months ended December 31, 2024 and Fiscals 2024, 2023 and 2022, respectively, representing 78.50%, 44.77%, nil and nil of revenue from operations (excludes revenue from the sale of traded goods and other operating revenue and adding back discounts and incentives) during such periods). However, the company cannot assure you that the Government will continue this scheme or that its bids will be accepted and future contracts will be awarded to it. Any reduction in Government funding for this scheme or its inability to obtain contracts may have an adverse impact on its business, results of operations, financial condition and cash flows. Further, in the nine months ended December 31, 2024 and Fiscal 2024, 2023 and 2022, revenue from operations for its Material Subsidiary, Oswal Solar on a standalone basis, which is currently engaged in the manufacturing of solar modules and primarily supplying to the Company, was Rs. 2,812.83 million, Rs. 593.22 million, nil and nil, respectively.
- Its business is dependent on the performance of the agricultural sector (Rs. 9,510.52 million, Rs. 7,024.71 million, Rs. 3,254.70 million and Rs. 2,964.21 million from the agricultural sector in the nine months ended December 31, 2024 and Fiscals 2024, 2023 and 2022, respectively, representing 96.55%, 96.06%, 90.84% and 87.03% of revenue from operations (excluding revenue from the sale of traded goods and other operating revenue and adding back discounts and incentives) during such periods). Any adverse changes in the conditions affecting the agricultural sector may adversely impact its business, results of operations, financial condition and cash flows. Further, in the nine months ended December 31, 2024 and Fiscal 2024, 2023 and 2022, revenue from operations for its Material Subsidiary, Oswal Solar on a standalone basis, which is currently engaged in the manufacturing of solar modules and primarily supplying to the Company, was Rs. 2,812.83 million, Rs. 593.22 million, nil and nil, respectively.
- The company derives a significant portion of its revenues from the sale of the company products in the states of Haryana (34.75%, 72.28%, 44.00% and 49.60% in the nine months ended December 31, 2024 and Fiscal 2024, 2023 and 2022, respectively), Maharashtra (44.30%, 7.85%, 18.69% and 9.85% in the nine months ended December 31, 2024 and Fiscal 2024, 2023 and 2022, respectively), Uttar Pradesh (6.14%, 6.12%, 3.76% and 2.73% in the nine months ended December 31, 2024 and Fiscal 2024, 2023 and 2022, respectively) and Rajasthan (5.28%, 4.53%, 7.29% and 17.85% in the nine months ended December 31, 2024, Fiscal 2024, 2023 and 2022, respectively). Consequently, any adverse developments affecting its operations in such regions, could have an adverse impact on its business, results of operations, financial condition and cash flows.
Strategy
- Backward integration in pump manufacturing value chain, enhance automation in pump manufacturing and strengthen its capabilities through strategic acquisitions.
- Continue to focus on government schemes and maintain leadership position.
- Increase manufacturing capacity for solar modules and backward integration in solar module manufacturing.
- Introduce new products in the industrial pumps and electric motors categories.
- Increase its presence in select geographies in India and grow its exports.
- One of the largest supplier of solar powered agricultural pumps under the PM Kusum Scheme, well positioned to capitalise on strong industry tailwinds.
- Vertically integrated manufacturing competencies.
- Strong engineering and design capabilities.
- Comprehensive product portfolio in multiple product specifications.
- Strong presence in major agricultural states in India including Haryana and growing presence in other states.
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Step 3:
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Click ‘Apply IPO’ to apply and enter the number of lots and bidding price along with your UPI ID.
Step 5:
Confirm your bid and accept the payment mandate sent to your UPI App for completing the IPO application.
