Teja Engineering Industries Ltd IPO

About Teja Engineering Industries Ltd

Our Company was incorporated as Teja Engineering Industries Private Limited, a private limited company under the Companies Act, 2013 vide Certificate of Incorporation date April 17, 2023 bearing Corporate Identification Number U33122GJ2023PTC140188 issued by Registrar of Companies, Central Registration Centre. Subsequently our company converted into public limited Company, pursuant to a special resolution passed by the shareholders of our company at the Extra Ordinary General Meeting held on September 09, 2023 and consequently the name of our Company was changed to Teja Engineering Industries Limited and a fresh certificate of incorporation was issued by the Registrar of Companies, ROC Ahmedabad dated September 19, 2023. The Corporate Identification Number of our Company is U33122GJ2023PLC140188.

The Indian economy underwent significant structural reforms during this period, boosting its macroeconomic foundations. These measures propelled India to become the fastest-growing economy among G20 nations. Further, efficient handling of the COVID-19 pandemic and recent geopolitical challenges has ensured that the Indian economy continues to outperform its global peers. Current estimates suggest a growth of 7.3% in 2023-24, building on the impressive 9.1% (FY22) and 7.2% (FY23) growth in the preceding two years. It is commendable that India is expected to post a GDP growth rate of over 7% for the third year in a row while the global economy is struggling to post a 3% growth. India's robust external sector demonstrating resilience in challenging times: India's external sector displays resilience with robust merchandise and services exports. Merchandise exports reached a record high of US$ 451.1 billion in FY23, while services exports, especially in software, consistently contribute significantly. The nation's trade balance improved, witnessing a US$ 166.4 billion surplus in April-November 2023. Remittances, totaling US$ 125 billion in 2023, contribute to the current account balance, maintaining a comfortable position. India attracts foreign investment, with foreign portfolio investors (FPIs) increasing exposure by US$ 28.8 billion in H1 FY24. The country remains a preferred Foreign Direct Investment (FDI) destination, achieving a cumulative FDI of US$ 596.5 billion during FY15-FY23. Stable macroeconomic factors and a positive global perception attract investors. The Indian rupee remains stable against the US dollar, and foreign exchange reserves reach US$ 623.2 billion, covering over ten months of imports. Challenges, such as geopolitical tensions and rising shipping costs, pose risks. While the share of exports in GDP may moderate in FY24 due to global demand slowdown, sustained FDI inflows and confidence in the Indian economy are anticipated. Remittances are expected to grow by 8%, reaching US$ 135 billion in 2024, contributing to India's economic stability. Continued focus on enhancing social infrastructure: The Union government's spending on social services saw a Compound Annual Growth Rate (CAGR) of 5.9% from FY12 to FY23, with an 8.1% CAGR in capital expenditure, indicating the development of societal assets. Initiatives like the Ujjwala Yojana, PM-Jan Aarogya Yojana, PM-Jal Jeevan Mission, Ayushman Bharat scheme, and PM-AWAS Yojana prioritize universal access to basic amenities. This approach, distinct from short-term measures, not only constructs lasting social infrastructure but also elevates individuals to improved living standards and opportunities, fostering empowerment among previously underserved segments of the Indian population.

The company provides services across Operation & Maintenance (O&M) including Annual Maintenance Contracts (AMC), Erection & Commissioning (E&C) including project works, installation of stainless-steel tubing, Overhauling, Decommissioning & Recommissioning. We also undertake instrument calibration, non-destructive thickness testing of pressure vessels, and testing and servicing of safety relief valves (SRVs). We operate in the Oil & Gas, Power, and Energy sectors, supporting OEMs, CNG compressor packagers, and public sector undertakings involved in gas distribution and energy infrastructure. With a network extending across India, we provide technical knowledgeable manpower and execution support for CNG stations, gas compression plants, and natural gas distribution terminals. The company's role is to ensure smooth and efficient operation of energy infrastructure, though it does not manufacture equipment itself.

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