Hy Tech Engineers Limited
PROSPECTUS · filed 28 Aug 2026
Hy Tech Engineers Limited manufactures hydraulic fittings and related equipment, generating Rs 189.404 crore in revenue with a 17.28% CAGR, and reported a profit of Rs 22.592 crore. The IPO comprises a fresh issue of Rs 60.0 crore and an offer for sale of Rs 75.734 crore, with the OFS constituting 55.8% of the total offer size. The company is highly dependent on a few customers, with the top 10 contributing over 45% of revenue, and a significant portion of its business is derived from exports to the United States. Key risks include high customer concentration, dependence on a single distributor for export markets, and exposure to exchange rate fluctuations.
What stands out
Risk factor. The Company is highly dependent on a few customers for a major portion of its revenues, with the top 10 customers contributing 45.32%, 42.02% and 48.72% of revenue from operations in Fiscal 2026, 2025 and 2024, respectively. The Company does not have long-term arrangements with customers and any fai
Risk factor. The Company derives a significant portion of its revenue from exports, which accounted for 29.37%, 28.30% and 33.14% of total revenues in Fiscal 2026, 2025 and 2024, respectively. A substantial portion of export revenue is generated from the United States of America, which contributed 21.42%, 22.85%
Risk factor. The Company is dependent on its Promoter group member, Hy-Tech USA Inc., for a significant portion of its export revenue. The Company has entered into a distribution agreement with Hy-Tech USA Inc., appointing them as the exclusive distributor of all hydraulic fittings and related equipment manufact
Healthy return on equity. ROE of 18.5%.
How the offer is structured
Fresh issue
₹60.0 Cr
New capital into the company
Offer for sale
₹75.7 Cr
Goes to selling shareholders
OFS share
56%
Debt repayment
₹16.0 Cr
From fresh proceeds
- Funding the capital expenditure requirements towards procurement of machinery and equipment for expansion at Kavathe Unit, Shirwal Unit and Pithampur Unit-I₹30.0 Cr
- Repayment or prepayment, in full or in part, of certain outstanding borrowings availed by our Company₹16.0 Cr
- General corporate purposes₹6.0 Cr
Restated financials
Revenue
₹189 Cr
Latest fiscal year
Profit after tax
₹22.6 Cr
Revenue CAGR
17.3%
Return on equity
18.5%
P/E at upper band
19.63
Only in a priced RHP
PAT CAGR
39.6%
| Fiscal year | Revenue | EBITDA | PAT | Net worth |
|---|---|---|---|---|
| 2024 | ₹138 Cr | ₹11.6 Cr | ₹82.2 Cr | |
| 2025 | ₹161 Cr | ₹19.6 Cr | ₹101 Cr | |
| 2026 | ₹189 Cr | ₹22.6 Cr | ₹122 Cr |
Risks the company discloses
The Company is highly dependent on a few customers for a major portion of its revenues, with the top 10 customers contributing 45.32%, 42.02% and 48.72% of revenue from operations in Fiscal 2026, 2025 and 2024, respectively. The Company does not have long-term arrangements with customers and any failure to continue existing arrangements could adversely affect the business, financial condition, results of operations and cash flows.(Customer Concentration)
The Company derives a significant portion of its revenue from exports, which accounted for 29.37%, 28.30% and 33.14% of total revenues in Fiscal 2026, 2025 and 2024, respectively. A substantial portion of export revenue is generated from the United States of America, which contributed 21.42%, 22.85% and 24.56% of total revenues during the same period.(Export Dependence)
The Company is dependent on its Promoter group member, Hy-Tech USA Inc., for a significant portion of its export revenue. The Company has entered into a distribution agreement with Hy-Tech USA Inc., appointing them as the exclusive distributor of all hydraulic fittings and related equipment manufactured by the Company for customers in North America, Canada, and Brazil. Any disruptions or challenges faced by Hy-Tech USA Inc. or other distributors could impact sales and overall financial performance.(Distributor Dependence)
The Company is exposed to exchange rate fluctuations due to the revenues it receives from overseas markets, including the United States of America. Fluctuation in exchange rates could adversely affect the business.(Exchange Rate Risk)
The Company's sales are concentrated on a few customers for a portion of its revenues. The share of total revenues attributable to the 10 largest customer groups remains significant and has increased in Fiscal 2026 as compared to Fiscal 2025.(Customer Concentration)
The Company's overseas operations are subject to risks specific to each country and region in which it operates, as well as risks associated with overseas operations in general. These risks include complying with changes in foreign laws, regulations and policies relating to foreign trade and investment.(International Operations)
The Company's sales from the United States of America may decline as a result of increased competition, regulatory action, pricing pressures, fluctuations in the demand for or supply of products, the outbreak of pandemics, antidumping, tariffs, trade policies or geopolitical tensions.(International Operations)
The performance of the Company's customers, their sales network and their ability to expand their businesses are crucial to the future growth of the business and directly affect the sales volume and profitability.(Customer Performance)
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.

