SRM Contractors Limited | Globe Capital Market LTD.
SRM Contractors Limited
Price Band
₹200 to ₹210
IPO Issue Period
Mar 26, 2024 to Mar 28, 2024
Issue Size
130.20 Cr
Face value
₹10 per share
Fresh issue
130.20 Cr
Offer for sale
Minimum Shares for Retail
Listing on
Issue Type
Book Building
Registrar to the Issue
Bigshare Services Pvt Ltd
Tentative Listing Date
April 3, 2024

Interactive Financial Services Ltd

Established in 2008, SRM Contractors Limited is a construction and development company primarily engaged in the construction of roads (including bridges), tunnels, slope stabilization works, and other construction activities in the Union Territories of Jammu and Kashmir and Ladakh.

The company operates as an EPC contractor and on a unit-price basis for infrastructure projects and subcontracts infrastructure construction projects.

The company has these major business verticals:

  • Road projects: planning and construction of realignment, widening, upgradation, restoration, and/or strengthening and improvement of roads, bridges, and highways and their maintenance in the Union Territories of Jammu and Kashmir and Ladakh.
  • Tunner projects: design and construction of new tunnels, cut-and-cover tunnels for avalanche and landslide protection and caverns; also includes expansion, upgradation, restoration and/or strengthening and improvement, including creation of niches/alterations in niches and stabilization of existing tunnels in the Union Territories of Jammu and Kashmir and Ladakh.
  • Slop stabilization works: planning and construction of reinforced embankment structures as part of slope stabilization work.
  • Other miscellaneous civil construction activities: construction of government housing and residential units, drainage work as well as irrigation and flood protection work.

As of March 2024, the company has completed 37 infrastructure construction projects with a total contract value of Rs. 77,088.00 lakhs including 31 road construction projects, 3 tunnel projects, 1 slope stabilization project, and 2 miscellaneous construction works. Out of the 37 projects 29 infrastructure construction projects, including sub-contracts, were undertaken by the company independently and 8 projects were undertaken through project-specific joint ventures.

As on January 31, 2024, the company employed 275 full-time employees, consisting of specialists and workers.

For year/ period ended ( in Cr.)

Particulars H1FY23 FY22 FY21
Total Revenue 300.65 265.51 161.95
Profit After Tax 18.75 17.57 8.27
EPS 90.82 85.11 40.08
OPM (%) 12.87% 12.14% 5.75%
PATM (%) 6.24% 6.66% 5.17%


For year/ period ended ( in Cr.)

Company Name Market Cap (Cr.) Price P/BV P/E Sales (Cr.)
Net Profits(Cr.)
SRM Contractors Limited *481.33 210 5.56 2.33 300.65 18.75
ITD Cementation India Ltd. 5,201.73 302.8 3.7 23.43 6,885.53 222.01
Man Infra Construction Ltd. 7,315.49 197.05 5.91 46.08 943.09 158.74


*Market cap @upper band 

  • Proven track record of efficient execution of roads, tunnels and slope stabilisation works in the difficult terrain of union territory of Jammu and Kashmir.
  • Business model of selecting and clustering of our projects in the union territories of Jammu & Kashmir and Ladakh.
  • Continuous Focus on equipment ownership.
  • Strong financial performance in the last three financial years.
  • In-house integrated model.
  • Experienced Promoters with strong management team.
  • Funding capital expenditure requirements for the purchase of equipment/machinery;
  • Full or part repayment and/or prepayment of certain outstanding secured borrowings availed by the company;
  • Funding the working capital requirements of the company;
  • Investment in Project Specific Joint Venture Projects; and General Corporate Purpose.

The company is engaged in specialized engineering construction business for roads, tunnels, slop stabilization etc. and has been reporting steady growth in its top and bottom lines. Investors may subscribe for the medium to long term rewards.

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