Adroit Industries (India) Limited
DRHP · filed 07 Apr 2026
This is a draft. SEBI has not cleared it, there is no final price yet, and it may never become an IPO.
Adroit Industries (India) Limited is an export-oriented manufacturer with 94.15% of revenue derived from product sales for the six-month period ended September 30, 2025. The company's offer comprises a fresh issue of Rs 9,897 crore and an offer for sale of Rs 1,350 crore, representing 12.0% of the post-issue paid-up capital. The company's financial profile shows a debt-to-equity ratio of 0.56. The draft prospectus highlights high-severity risks related to the company's heavy dependence on export sales, particularly to the United States, and the vulnerability of its business to adverse developments in export markets, regulatory and trade policy risks, and geopolitical conflicts affecting shipping routes and energy prices.
Partial analysis — some sections could not be read from the document (found: capitalisation, litigation, objects, price_basis, promoters, related_party, risks).
What stands out
Risk factor. Major portion of revenue is derived from export sales, with 94.15% of revenue from Sale of Products for the six-month period ended September 30, 2025, and 96.27% for Fiscal 2025.
Risk factor. Export revenue is geographically concentrated in the United States, which contributed 54.89% of export sales for the six-month period ended September 30, 2025, and 66.68% for Fiscal 2025.
Risk factor. Adverse developments affecting export markets, including regulatory and trade policy risks, geopolitical and supply chain risks, macroeconomic and demand-related risks, could materially and adversely affect the business, financial condition, results of operations, cash flows and prospects.
Risk factor. Any adverse changes in tariff structures, duties or trade restrictions by key export markets, including the United States, may adversely impact export realizations, order flows and margins.
Primarily fresh capital. 88% of the offer is fresh issue, so most proceeds fund the company.
How the offer is structured
Fresh issue
₹9.90k Cr
New capital into the company
Offer for sale
₹1.35k Cr
Goes to selling shareholders
OFS share
12%
- Funding capital expenditure by our Company towards procurement of; (i) machinery and equipment for enhancement of operations at Dewas Facility; and (ii) transportation vehicle for local transportation of goods between the Manufacturing Facilities (Proposed Capital Expenditure in the Company)₹168 Cr
- Investment in our Subsidiary, Adroit Driveshafts Private Limited, in the form of debt or equity or a combination thereof, for funding capital expenditure towards procurement of; (i) machinery and equipment for enhancement of operations at Pithampur Facility; and (ii) transportation vehicle for local transportation of goods between the Manufacturing Facilities (Investment in Subsidiary for capital expenditure)₹370 Cr
- Investment in our Subsidiary, Adroit Driveshafts Private Limited, in the form of debt or equity or a combination thereof, for re-payment or pre-payment, in full or in part, of certain borrowings availed by our Subsidiary (Investment in Subsidiary for loan repayment)₹203 Cr
- General Corporate Purposes
Promoters, litigation & related parties
Promoter (pre)
48.7%
Except as stated in this section
Risks the company discloses
Major portion of revenue is derived from export sales, with 94.15% of revenue from Sale of Products for the six-month period ended September 30, 2025, and 96.27% for Fiscal 2025.(Export Dependence)
Export revenue is geographically concentrated in the United States, which contributed 54.89% of export sales for the six-month period ended September 30, 2025, and 66.68% for Fiscal 2025.(Export Dependence)
Adverse developments affecting export markets, including regulatory and trade policy risks, geopolitical and supply chain risks, macroeconomic and demand-related risks, could materially and adversely affect the business, financial condition, results of operations, cash flows and prospects.(Export Dependence)
Any adverse changes in tariff structures, duties or trade restrictions by key export markets, including the United States, may adversely impact export realizations, order flows and margins.(Export Dependence)
Ongoing geopolitical tensions and conflicts affecting global energy markets and shipping routes have resulted in higher shipping costs and freight delays, creating operational and cost-related challenges for export-oriented manufacturers.(Export Dependence)
Geopolitical conflicts, particularly those involving energy-producing regions, have contributed to volatility in crude oil prices, which directly increases operating and logistics costs, and may further affect export realizations and margins.(Export Dependence)
Any prolonged disruption, escalation in hostilities, sanctions-related measures or restrictions on shipping through regions such as the Strait of Hormuz could increase logistics costs, delay shipments, disrupt raw material procurement and customer deliveries, and adversely affect demand and realizations in export markets.(Export Dependence)
Any geopolitical developments, trade policy changes, conflict and international disruptions may directly or indirectly influence procurement strategies, inventory levels, working capital requirements and overall cost structure, which could materially and adversely affect the business, financial condition, results of operations and cash flows.(Export Dependence)
No dimension score is published for this filing. Too few sections could be read from the document to score it without guessing, and a score built on two fields would say more about our extraction than about the company.