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SFC Environmental Technologies Ltd.
Closed
Price Band
₹313 to ₹330
IPO Issue Period
27 Oct to 29 Oct, 2026
Issue Size
₹668 Cr
Face value
₹2 per share
Fresh issue
₹150 Cr
Offer for sale
₹518 Cr
Minimum Shares for Retail
45 Shares
Listing on
BSE, NSE
Issue Type
Book Built Issue - IPO
Registrar to the Issue
MUFG Intime India Pvt. Ltd.
Tentative Listing Date
Tue, Nov 03, 2026
QIB
50%
NII
15%
Retail
35%

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Company Profile

SFC Environmental Technologies Limited is an environmental technology company incorporated in March 2005 that specializes in wastewater treatment, recycling, and solid waste solutions. The company’s wastewater business relies on its proprietary C-Tech sequencing batch reactor (SBR) technology for sewage and industrial effluent treatment, complemented by advanced recycling solutions using ultrafiltration and reverse osmosis via an exclusive Indian supply arrangement with DuPont. As of July 31, 2026, the company had successfully commissioned 728 wastewater installations capable of treating over 17,500 million liters per day.

In the solid waste sector, SFC utilizes its proprietary OREX technology to separate organic waste from municipal garbage for biogas production and resource recovery, operating two integrated facilities in Goa with a 425-tonne daily capacity. Through its subsidiary, it has also secured major compressed biogas plant orders in Assam and Odisha valued at ₹5,017 million, alongside expanding into agricultural waste and biomass projects. Operating across 23 states and five Union Territories, SFC serves municipal bodies, government entities, and EPC contractors, driving future growth through expanded recycling capabilities, waste-to-energy initiatives, and biogas projects.

For the year/period ended (Rs. in Cr.)

FY26 FY25 FY24
Total Revenue 803.63 697.86 657.49
Profit After Tax 160.21 152.01 144.17
EPS 16.52 15.42 15.16
EBITDA Margin (%) 29.34 29.73 29.39
PAT Margin (%) 19.94 21.78 21.93

For year/ period ended ( in Cr.)

Company Name Market Cap (Cr.) Price P/BV P/E Sales (Cr.)
FY26
Net Profits(Cr.)
FY26
SFC Environmental Technologies Limited 3232.57* 330 3.83 20.17 803.63 160.21
Thermax Limited 37457 3144 6.82 68.0 10774 720
Praj Industries Limited 4866 265 3.76 96.4 3168 24
Ion Exchange (India) Ltd 5162 352 3.90 47.0 2915 143

*Market cap @upper band

  • Technology-Driven Market Leadership: Strong position in wastewater treatment, supported by proprietary C-Tech technology and over 80% market share in SBR technology in India.
  • Integrated Technology and Engineering Capabilities: Comprehensive solutions across design, engineering, equipment supply, installation, commissioning and operations and maintenance.
  • Established Presence in Wastewater Recycling and Reuse: Expansion into UF, CCRO and MBR technologies, supported by an exclusive supply arrangement with DuPont for selected products in India.
  • Proprietary Solid Waste Treatment Technology: OREX technology enables organic waste separation, biogas generation and recovery of recyclable resources.

Strong Order Book and Repeat Business: High repeat-customer revenue, contributing 91.98% of revenue in Fiscal 2026, alongside significant orders in wastewater recycling and compressed biogas projects

  • Diversified Growth Opportunities: Presence across wastewater treatment, wastewater recycling and reuse, solid waste treatment, compressed biogas and waste-to-energy projects.

The Company SFC ENVIRONMENTAL TECHNOLOGIES LIMITED IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:

  • Prepayment of all or a portion of certain outstanding borrowings availed by Company and wholly owned Subsidiary, namely Vasudha Waste Treatment Pvt.Ltd. (Rs. 42.23 Cr.)
  • Funding working capital requirements (Rs. 74.92 Cr.)
  • General Corporate Purposes

At the upper band of IPO Rs. 330, the stock is valued at 20.17 P/E multiple. Hence, well-informed investors subscribe for medium to long term perspective.