Pantomath Capital Advisors Pvt.Ltd.
Incorporated in 1993, Ardee Industries Limited is an established player in the secondary lead processing and circular economy sector, specializing in the sustainable recovery and recycling of end-of-life energy storage systems and non-ferrous scrap. The company processes raw scrap into high-purity lead and a diverse portfolio of specialized lead alloys, including lead-calcium, lead-antimony, lead-tin, lead-silver, and lead-cadmium formulations. These value-added inputs serve mission-critical applications across key industrial sectors, notably energy storage, e-mobility, automotive OEMs, and industrial chemicals.
As of March 31, 2025, Ardee Industries maintained a diversified customer network of over 50 institutional clients across domestic and international battery and metals manufacturing markets. The company’s global sales engine spans seven export destinations—Singapore, Hong Kong, South Korea, Switzerland, the United Arab Emirates, Japan, and the United States—underlining strong product validation and regulatory compliance across mature international jurisdictions.
The business operates an integrated manufacturing facility covering 7.61 acres in Tirupati district, Andhra Pradesh, with an aggregate installed capacity of 104,025 MTPA. The processing plant features advanced recycling infrastructure, including rotary furnaces, refining kettles, casting systems, and dedicated pollution control units. Demonstrating its commitment to operational standards and ESG parameters, the site holds ISO 9001:2015 (Quality), ISO 14001:2015 (Environmental), and ISO 45001:2018 (Occupational Health & Safety) certifications.
For the year/period ended (Rs. in Cr.)
| FY26 | FY25 | FY24 | |
|---|---|---|---|
| Total Revenue | 1168.88 | 743.53 | 463.39 |
| Profit After Tax | 84.68 | 33.27 | 8.95 |
| EPS | 3.32 | 1.31 | 0.35 |
| EBITDA Margin (%) | 12.60 | 8.88 | 6.06 |
| PAT Margin (%) | 7.25 | 4.48 | 1.93 |
For year/ period ended ( in Cr.)
| Company Name | Market Cap (Cr.) | Price | P/BV | P/E | Sales (Cr.) FY26 |
Net Profits(Cr.) FY26 |
|---|---|---|---|---|---|---|
| Ardee Industries | 1350.57* | 53 | – | 15.96 | 1168.88 | 84.68 |
| Gravita India | 11,936 | 1,618 | 4.85 | 30.5 | 4,265 | 378 |
| Pondy Oxides and Chemicals | 4,087 | 536 | 5.10 | 29.3 | 2,939 | 139 |
*Market cap @upper band
The Company IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
At the upper band of IPO ₹ 53, the stock is valued at 15.96 P/E multiple. Hence, well-informed investors subscribe for medium to long term perspective.