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Lcc Projects Limited

RHP · filed 04 Sept 2026

SEBI cleared

Lcc Projects Limited is a company with a revenue CAGR of 21.5% and a latest revenue of Rs 3600.252 crore, reporting a profit of Rs 286.441 crore. The company has a debt-to-equity ratio of 0.97 and a Return on Equity of 32.07%. The draft prospectus highlights high risks related to customer concentration, with revenue from the top ten customers comprising over 80% of total revenue for the last three fiscal years, and significant financial risks stemming from high leverage and contingent liabilities.

What stands out

Risk factor. Our inability to collect receivables outstanding and due to be paid by our customers, in a timely manner, or at all, may adversely affect our business, financial condition, results of operations and cash flows.

Risk factor. We have certain contingent liabilities which have been disclosed in our Restated Consolidated Financial Information, which if they materialize, may adversely affect our results of operations, cash flows and financial condition.

Risk factor. Our Company has a significantly higher level of indebtedness and leverage compared to our listed industry peers, which could increase our financial risk and adversely affect our operational flexibility and competitive position.

Strong revenue growth. Restated revenue CAGR of 21.5%.

Healthy return on equity. ROE of 32.1%.

How the offer is structured

  • Purchase of equipment₹14.7 Cr
  • Prepayment and/or repayment, in full or in part, of all or a portion of certain outstanding borrowings availed by our Company₹180 Cr
  • General Corporate Purposes

Restated financials

Revenue

₹3.60k Cr

Latest fiscal year

Profit after tax

₹286 Cr

Revenue CAGR

21.5%

Return on equity

32.1%

Debt / equity

0.97

PAT CAGR

53.2%

Fiscal yearRevenueEBITDAPATNet worth
2024₹2.44k Cr₹122 Cr₹383 Cr
2025₹2.92k Cr₹224 Cr₹607 Cr
2026₹3.60k Cr₹286 Cr₹893 Cr

Promoters, litigation & related parties

Promoter (pre)

82.0%

Except as disclosed in this section, there are no pending: (i) criminal proceedings involving the Company, Subsidiaries, Directors, Promoters, Key Managerial Personnel and Senior Management; (ii) actions taken/ penalties imposed by statutory and/or regulatory authorities involving the Relevant Parties, Key Managerial Personnel and Senior Management; (iii) disciplinary actions including penalty imposed by SEBI or stock exchanges against the Promoters in the last five financial years preceding this Red Herring Prospectus, including outstanding actions; (iv) claims related to direct and indirect taxes involving the Relevant Parties, in a consolidated manner, giving details of the number of cases and total amount involved in such cases; and (v) other pending litigation/arbitration proceeding involving the Relevant Parties which has been determined to be material pursuant to the Materiality Policy. Further, except as disclosed in this section, there are no pending litigation involving the Group Companies which may have a material impact on the Company in the opinion of the Board. The Board adopted the Materiality Policy on August 20, 2026. The materiality threshold is ₹105.34 million. Pre-litigation notices received by any Relevant Party, Key Managerial Personnel or Senior Management from third parties (excluding those notices and show cause notices issued by governmental, statutory, regulatory, judicial, quasi-judicial or taxation authorities or notices threatening criminal action or first information reports) shall not be considered as litigation until impleaded as defendants or respondents.

Risks the company discloses

  • Our inability to collect receivables outstanding and due to be paid by our customers, in a timely manner, or at all, may adversely affect our business, financial condition, results of operations and cash flows.(Financial)

  • We have certain contingent liabilities which have been disclosed in our Restated Consolidated Financial Information, which if they materialize, may adversely affect our results of operations, cash flows and financial condition.(Financial)

  • Our inability to continue operating from leased premises, or to seek renewal or extension of such leases may have an adverse effect on our business, operations and financial condition.(Operational)

  • Our Company has a significantly higher level of indebtedness and leverage compared to our listed industry peers, which could increase our financial risk and adversely affect our operational flexibility and competitive position.(Financial)

  • Revenue from our top ten customers comprise a significant portion of our revenue from operations i.e. 72.30% for Fiscal 2026, 84.10% for the Fiscal 2025, and 82.76% for the Fiscal 2024.(Customer Concentration)

  • Any failure to maintain our relationship with these customers, any adverse changes affecting their financial condition or the loss of any of our customers will have an adverse effect on our business, results of operations, financial condition and cash flows.(Customer Concentration)

  • Our higher leverage compared to our competitors can have several adverse consequences. A significant portion of our cash flow is dedicated to servicing our debt obligations, which reduces the availability of funds for working capital, capital expenditures, acquisitions, and other general corporate purposes.(Financial)

  • Our financing agreements contain various financial and other covenants. Our elevated debt levels increase the risk of breaching these covenants, which could lead to defaults, acceleration of repayments, and enforcement of security by our lenders.(Financial)

How this document reads, dimension by dimension

growthrevenue CAGR 21.5%
balance sheetdebt/equity 0.97x
profitabilityROE 32.1%

Each bar is a fixed formula applied to the figures shown above, scored 0–100. This is a reading of what the company disclosed — not a recommendation to apply or avoid, not a price target, and not a prediction of listing performance. Dimensions that could not be extracted are excluded rather than assumed, so coverage varies between documents.

Figures are extracted automatically from the document filed with SEBI and may contain errors — the linked SEBI document is the authoritative record; analysed 07 Sept 2026.

Not investment advice

These lists are rules-based research, not buy recommendations. Rankings are generated from NSE & BSE data by a deterministic formula and do not account for your personal circumstances. For informational purposes only. Consult a SEBI-registered advisor before investing.

Lcc Projects Limited RHP — SEBI filing analysis | DocStoX