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Fujiyama Power Syste IPO

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WEBSITE Inc. Year: 2017 Industry: Electronics - Components Listed Page

Profile
Issue Size 600.72 Cr
Profile
Price Range 216  to  228 per share
Profile
Min Investment ₹228
Profile
Lot Size 1
Profile
Face Value ₹1
Profile
Draft Prospectus
Invest Before the IPO Goes Live

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Profile
  • Basic Info
  • IPO Tentative Timetable
  • IPO Lot Size
  • Subscription Status
  • Financials
  • Profit & Loss
  • Balance Sheet
  • Cash Flow
  • Ratios
  • Growth Rates
  • Other info

Overview

Our Company is a manufacturer of products and solution provider in the roof-top solar industry, including on-grid,off-grid and hybrid solar systems. Our Company strives to excel in solar panel manufacturing, solar invertermanufacturing (covering on-grid, hybrid, and off-grid solutions), and both lead acid and lithium-ion batteryproduction. (Source: CARE Report) Additionally, we support robust R&D capabilities in inverter technology andprovide a wide variety of solar SKUs, distinguishing our Company as a well-rounded leader in the industry. (Source:CARE Report) We have built a brand recall and reputation in the industry through our brands 'UTL Solar', which hasa legacy of 28 years, and 'Fujiyama Solar'. We have developed three manufacturing facilities and R&D capabilitiesdomestically, and with a consistent focus on technological development and product innovation, we have a trackrecord of being one of the few companies in India to develop Online UPS with single card, Combo UPS along withautomatic voltage regulation (“AVR”), high frequency online UPS and single card surface mount technology(“SMT”) inverter in India. Our Company began manufacturing solar power conditioning units (“PCU”) in 2012whereas online solar PCUs in 2014. (Source: CARE Report) We are the first Indian company to develop an SMTbased inverter with single card in the year 2000. (Source: CARE Report) We have designed and developed an extensiveproduct portfolio of more than 500 SKUs which includes a full range of solar inverters, solar panels and batteries,with a goal of limiting the need of our customers to look to other OEMs. As on September 30, 2024, our Companyhas the widest variety of SKUs amongst our competitors. (Source: CARE Report) We service our customers throughan extensive pan-India distribution network of more than 480 distributors, 3,600 dealers and 1,000 exclusive “Shoppe”franchisees, who are trained by us in understanding the customer’s need and in planning, evaluating and supplyingcustomized solar systems and solutions. We also have a dedicated team of more than 400 qualified service engineersproviding maintenance service and technical support to our customers. Read More

Basic Info

Face Value 1 per share

Price 216  to  228 per share

P/E (x) 40.7

Sales( Cr.) 1541

PAT( Cr.) 156

EPS 5.6

Draft Prospectus

Exchange BSE-NSE

Promoter

Company Promoters

Pawan Kumar Garg Yogesh Dua Sunil Kumar

Pre Issue Share Holding 99.84%

Post Issue Share Holding 86.77%

Listing Details:

Listing Price: 218.4

Listing Gain: -4.4%

Current Price: 320

Gain On Issue: 320 | 0%

GMP: 0.5

GMP %: 0.2 %

IPO Tentative Timetable

Opening Date Nov 13, 2025
Closing Date Nov 17, 2025
Allotment Nov 18, 2025
Refund Nov 19, 2025
Delivery of Shares Nov 19, 2025
Listing Date Nov 20, 2025

IPO Lot Size

Application Lots Shares Amount
Retail (Min) 1 65 14,820
Retail (Max) 13 845 192,660
S-HNI (Min) 14 910 207,480
S-HNI (Max) 67 4355 992,940
B-HNI (Min) 68 4420 1,007,760

Objective of the Issue

1. Financing the cost of establishing the manufacturing facility in Ratlam, Madhya Pradesh, India (the“Project”) 2. Repayment and/ or prepayment of all or a portion of certain outstanding borrowings availed by ourCompany 3. General corporate purposes

Issue

Category Nos Bid Bid (x)
QIB 7342591 37822200 5.2x
NII 5631945 4978545 0.9x
Retail 13141204 13185965 1x
EMP 231481 339885 1.5x
Total 26347221 56326595 2.1x

Net Sales (in cr.)

Total Income (in cr.)

Operating Profit (in cr.)

Net Profit (in cr.)

Shareholder Funds (in cr.)

Total Assets (in cr.)

Fujiyama Power Syste Profit & Loss

#(Fig in Cr.) Mar 2022 Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 507 664 925 1541
Other Income 1 1 3 9
Total Income 508 665 927 1550
Total Expenditure 462 612 826 1292
Operating Profit 46 53 101 258
Interest 5 16 26 27
Depreciation 1 6 13 18
Exceptional Income / Expenses 0 0 0 0
Profit Before Tax 40 31 63 213
Provision for Tax 11 7 17 57
Profit After Tax 29 24 45 156
Adjustments 0 0 0 0
Profit After Adjustments 29 24 45 156
Adjusted Earnings Per Share 1.8 1.6 1.6 5.6

Fujiyama Power Syste Balance Sheet

#(Fig in Cr.) Mar 2022 Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds 181 193 240 397
Minority's Interest 0 0 0 0
Borrowings 15 67 63 88
Other Non-Current Liabilities 3 12 20 77
Total Current Liabilities 201 243 287 452
Total Liabilities 399 515 610 1014
Fixed Assets 114 230 276 418
Other Non-Current Assets 8 17 3 28
Total Current Assets 277 267 329 567
Total Assets 399 515 610 1014

Fujiyama Power Syste Cash Flow

#(Fig in Cr.) Mar 2022 Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 0 0 0 4
Cash Flow from Operating Activities -58 78 85 18
Cash Flow from Investing Activities -46 -132 -45 -118
Cash Flow from Financing Activities 104 55 -37 104
Net Cash Inflow / Outflow -0 0 4 4
Closing Cash & Cash Equivalent 0 0 4 8

Fujiyama Power Syste Ratios

# Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) 1.83 1.57 1.62 5.58
CEPS(Rs) 1.92 1.95 2.08 6.22
DPS(Rs) 0 0 0 0
Book NAV/Share(Rs) 4.64 5.41 8.52 14.12
Core EBITDA Margin(%) 8.86 7.82 10.69 16.15
EBIT Margin(%) 8.84 7.12 9.58 15.59
Pre Tax Margin(%) 7.8 4.74 6.77 13.83
PAT Margin (%) 5.63 3.67 4.9 10.15
Cash Profit Margin (%) 5.9 4.56 6.28 11.31
ROA(%) 7.15 5.33 8.06 19.26
ROE(%) 39.55 31.16 28.09 49.33
ROCE(%) 13.9 13.01 20.99 40.63
Receivable days 28.43 18.69 18.4 16.32
Inventory Days 128.24 100.38 82.76 72.82
Payable days 44.66 42.58 49.61 39.25
PER(x) 0 0 0 0
Price/Book(x) 0 0 0 0
Dividend Yield(%) 0 0 0 0
EV/Net Sales(x) 0.48 0.48 0.23 0.23
EV/Core EBITDA(x) 5.28 6.02 2.07 1.37
Net Sales Growth(%) 0 31.02 39.24 66.62
EBIT Growth(%) 0 5.48 87.4 171.26
PAT Growth(%) 0 -14.63 85.93 245.09
EPS Growth(%) 0 -14.63 3.42 244.62
Debt/Equity(x) 0.78 1.09 0.84 0.88
Current Ratio(x) 1.38 1.1 1.15 1.26
Quick Ratio(x) 0.49 0.33 0.34 0.41
Interest Cover(x) 8.52 2.99 3.41 8.85
Total Debt/Mcap(x) 0 0 0 0

Sihora Industries Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 67% 45% 0% 0%
Operating Profit CAGR 155% 78% 0% 0%
PAT CAGR 247% 75% 0% 0%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR NA% NA% NA% NA%
ROE Average 49% 36% 37% 37%
ROCE Average 41% 25% 22% 22%

Company Contact Information

Fujiyama Power Systems Ltd.

Mayuri Gupta

91 11 41055305

investor@utlsolarfujiyama.com

53 A/6, Near Ndpl Grid Office Near Metro Station, Industrial Area Sat Guru Ram Singh Marg

IPO Lead Manager(s)

Fujiyama Power Systems Ltd.

Motilal Oswal Investment Advisors Pvt Ltd

SBI Capital Markets Ltd

Registrar Info

Fujiyama Power Systems Ltd.

MUFG Intime India Pvt Ltd.

C 101, 247 Park, LBS Marg, Vikhroli (W), Mumbai (Old Address:) C-13 Pannalal Silk Compound, L B S Marg, Bhandup Mumbai Maharashtra

+91 810 811 8484

91-022-49186060

rnt.helpdesk@in.mpms.mufg.com

https://in.mpms.mufg.com/

Frequently Asked Questions

All You Need To Know About IPO

When you leave without vesting, generally unvested ESOPs are cancelled. Vested ESOPs usually can be exercised after you depart, often within 3 to 6 months, depending on the company's ESOP plan.

For companies listed on a stock exchange, you can sell the shares any time after you exercise the ESOP option and the shares are in your demat account. If the company is unlisted or otherwise a startup, you can only sell the shares if and when the company announces a buyback or has a process for secondary sales.

Whenever you exercised your options to hold shares, you entered into a market risk situation, and if the valuation of the company drops, so do the shares.

Yes. ESOPs are valuable to the employer in that the employer is able to retain the best talent, align employee interests with company goals, and preserve cash while rewarding performance.

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