Adroit Industries (India) Ltd. GMP, Date, Price Band & Review

Adroit Industries IPO Details

Adroit Industries IPO is a 100% book-built issue of ₹150.71 crore, comprising a fresh issue of ₹132.62 crore and an offer for sale (OFS) of ₹18.09 crore, with a face value of ₹10 per share. The company filed its DRHP with SEBI on March 30, 2026.

The price band of the issue is set between ₹126 to ₹134 per share and the lot size for an application is 111 shares. The minimum amount of investment required by an individual investor is ₹14,874 (111 shares). The IPO will be open for subscription from Sep 23 to 25, 2026, on the BSE and the NSE platform, with a tentative listing date fixed as Sep 30, 2026.

Choice Capital Advisors Private Limited is the Book Running Lead Manager, while Bigshare Services Private Limited is the Registrar to the Offer.

Adroit Industries IPO Date & Timeline

The Adroit Industries IPO is officially set to open for subscription on Sep 23, 2026 and will close on Sep 25, 2026. The company initially filed its Draft Red Herring Prospectus (DRHP) on March 30, 2026 and has now finalized its schedule following SEBI approval. Once the subscription window closes, allotment is expected on Sep 28, 2026. Following this, the firm will initiate refunds and credit shares to successful investors' demat accounts on Sep 29, 2026. Finally, shares of Pooja Logistics Ltd. are tentatively scheduled to list on the stock exchanges on Sep 30, 2026.

Company Background

Adroit Industries (India) Limited traces its origins to a partnership firm established in 1966. The business was subsequently converted into a public limited company and incorporated as Adroit Industries (India) Limited on January 19, 1995. The company has since developed into a manufacturer and supplier of propeller shafts and related torque-transmission components.

Its registered office is in Bhiwandi, Thane, Maharashtra, while its corporate office is in Pithampur, Madhya Pradesh. Its manufacturing operations are currently concentrated in Madhya Pradesh, while its products are supplied across international markets. The company also has subsidiaries in India and Canada supporting its manufacturing and overseas customer activities.

Operations & Product Range

Adroit Industries operates a B2B business model, supplying products primarily to distributors, Tier-1 driveline component suppliers and OEMs in domestic and overseas markets. Its core portfolio comprises precision-machined torque-transmission components and complete propeller shaft assemblies. Forged components are also manufactured as intermediate inputs for downstream machining and assembly.

As of February 28, 2026, the company offered 5,250 SKUs. These covered 1,355 propeller shaft and related assemblies, 1,950 yoke components, 450 shaft components, 244 flange components, 250 joint components and 1,001 other driveline components.

The products serve automotive applications, particularly commercial vehicles and, to a limited extent, passenger vehicles such as SUVs. Non-automotive applications include defence and emergency services, heavy equipment, off-highway machinery and industrial equipment.

Facilities & Capacity

The company operates three manufacturing facilities in Madhya Pradesh. The Dewas Facility undertakes upstream activities, including die-making, forging, heat treatment and shot blasting. The Pithampur Facility, operated by Adroit Driveshafts Private Limited, handles machining, assembly and balancing. The Dewas Facility has installed a capacity of 2,400 MT, while Pithampur has installed a capacity of 900,000 units and Sanwer has installed a capacity of 547,000 units. For FY25, capacity utilisation was 89.71% at Dewas, 72.69% at Pithampur and 48.98% at Sanwer. The company is also proposing additional machinery and equipment at Dewas and Pithampur to expand forging, machining and assembly capabilities.

Its quality infrastructure includes metallurgical and mechanical testing, flaw detection and other inspection systems. The company's quality management systems are certified under IATF 16949, ISO 9001, ISO 14001 and ISO 45001 standards.

Brands & Market Presence

Adroit Industries operates primarily as a B2B manufacturer and supplier of driveline components. Its products are sold in India and international markets across North America, Europe, Latin America, the Middle East, Africa and Asia-Pacific.

During FY25, export revenue from product sales was ₹116.68 crore, representing 96.27% of revenue from the sale of products. The United States was the largest export market, contributing ₹77.80 crore. The company also serves customers including Godrej & Boyce Manufacturing Company, BEML, VE Commercial Vehicles, Sandvik Mining and Rock Technology India, Oilgear India and other industrial and automotive customers.

Revenue Streams & Business Model

Adroit Industries (India) Ltd. operates as a vertically integrated manufacturer and supplier specializing in driveline systems, propeller shafts, and over 5,000 SKUs of torque-transmission components. The company executes a B2B business model, utilizing fully in-house forging, precision machining, heat treatment, and testing capabilities. Revenue streams are generated through sales to Original Equipment Manufacturers (OEMs), Tier-1 automotive component suppliers, and global aftermarket distributors across sectors such as commercial vehicles, defense, and heavy machinery, spanning domestic Indian and international export markets.

Financial Performance

Adroit Industries reported revenue from operations of ₹124.53 crore in FY24 and ₹133.89 crore in FY25, representing a revenue CAGR of approximately 13.71% over FY23–FY25. PAT increased from ₹14.53 crore in FY24 to ₹18.14 crore in FY25, with FY25 PAT rising approximately 24.90% over FY24. EBITDA stood at ₹29.69 crore, ₹31.02 crore, FY24 and FY25, respectively, while EBITDA margin was 23.84% and 23.17%.

Management & Shareholding

The promoters of Adroit Industries are Saurabh Sangla, Mukesh Sangla, Monika Sangla, Shubhangi Trust, Shreya Trust and Swan Irrigation LLP. Before the IPO, the promoters held a 51.3% of the pre-issue paid-up equity share capital.

Saurabh Sangla holds 10,37,364 shares, Mukesh Sangla 23,54,354 shares, Monika Sangla 11,62,126 shares, Swan Irrigation LLP 18,96,992 shares, Shubhangi Trust 34,86,380 shares and Shreya Trust 70,63,062 shares. But, after the IPO, the promoters' shareholding will be diluted to 36.96%.

Board & Key Management

The Board comprises Saurabh Sangla as Chairman and Managing Director, Mukesh Sangla as Non-Executive Director, and Surabhi Agrawal, Anirudha Chauhan and Narendra Kumar Maheshwari as Non-Executive Independent Directors.

Saurabh Sangla has been associated with the company since 2007 and has more than 18 years of experience in manufacturing plastic products, including experience in the torque-transmission industry. Mukesh Sangla has more than 40 years of experience in commodity and polymer trading and more than 20 years in plastic-product manufacturing.

The key managerial personnel include B.R. Patidar, CFO, who has over 26 years of experience in accounts and finance, and Mradul Jain, CS and CO. Other senior management personnel include executives responsible for export marketing, engineering and development, business and systems development and production.