ArMee Infotech Ltd.
RHP · filed 23 Sept 2026
ArMee Infotech Ltd. is a company that executes projects, with a latest revenue of Rs 24.26 crore and a debt-to-equity ratio of 0.9571. The offer consists entirely of a fresh issue of Rs 300 crore with no offer for sale. The company faces high risks related to geographic concentration in Gujarat, Maharashtra, and Tamil Nadu, and high customer concentration with Government/PSU clients representing over 83.84% of revenue. Additionally, the company's bidding success rate has declined to 19.48% in Fiscal 2026, and it faces risks regarding regulatory compliance, supply chain defaults, and delayed receivables from government clients.
What stands out
Risk factor. More than 86% of revenue was recognized from projects executed in the states of Gujarat, Maharashtra and Tamil Nadu as of March 31, 2026.
Risk factor. More than 83.84% of revenue was recognized from Government/PSU clients as of March 31, 2026.
Primarily fresh capital. 100% of the offer is fresh issue, so most proceeds fund the company.
How the offer is structured
Fresh issue
₹300 Cr
New capital into the company
OFS share
0%
- Funds for the purpose of securing PBGs for expansion of business₹155 Cr
- Funding our working capital requirements₹60.0 Cr
- Prepayment or repayment of certain outstanding borrowings availed by our Company₹6.5 Cr
- General corporate purposes
Restated financials
Revenue
₹24.3 Cr
Latest fiscal year
Debt / equity
0.96
| Fiscal year | Revenue | EBITDA | PAT | Net worth |
|---|---|---|---|---|
| 2026 | ₹24.3 Cr |
Promoters, litigation & related parties
Promoter (pre)
92.7%
Except as disclosed in this section, there are no outstanding civil litigation involving the Company, Directors, Promoters, and Subsidiaries; no outstanding criminal litigation involving the Relevant Parties; no actions taken by statutory or regulatory authorities involving the Relevant Parties; no outstanding claims involving the Relevant Parties for any direct and indirect tax liabilities; no defaults or non-payment of statutory dues by the Company; no material fraud against the Company in the last five years; no litigation or legal action against the Promoters by any ministry or Government department or statutory authority during the last five years; or other outstanding litigations involving the Relevant Parties or any other person.
Risks the company discloses
More than 86% of revenue was recognized from projects executed in the states of Gujarat, Maharashtra and Tamil Nadu as of March 31, 2026.(Geographic Concentration)
More than 83.84% of revenue was recognized from Government/PSU clients as of March 31, 2026.(Customer Concentration)
The success rate of bids made in Fiscal 2026, Fiscal 2025, and Fiscal 2024 were 19.48%, 24.57%, and 30.91% respectively.(Bidding Success)
The projects undertaken for Government/PSU clients are subject to mandatory inspections by authorities.(Regulatory Compliance)
We may incur unexpected expenses if the suppliers of components in our power projects default on their warranty obligations.(Supply Chain)
We may face delays associated with collection of receivables from Government/PSU clients.(Credit Risk)
Failure to adhere to terms and conditions of the Government e-marketplace may lead to administrative action, including debarring from bidding.(Regulatory Compliance)
A natural calamity, economic slowdown or disruption in Gujarat and Maharashtra may hinder business operations and cause adverse effects on results of operations, financial condition and cash flows.(Geographic Concentration)
How this document reads, dimension by dimension
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.