Tiêu đề Niveshaay_Oswal Pumps Limited_IPO Note.pdf ✅

Oswal Pumps Limited is a leading manufacturer of solar- powered and grid-connected pumping systems, electric motors, and solar modules, marketed under the ‘Oswal’ brand. With over 22 years of expertise, the company serves agricultural, residential, and industrial sectors through a diversified product portfolio. Its operations are supported by two fully integrated manufacturing facilities located in Karnal, Haryana. Why Oswal Pumps? • Highly Backward Integrated Operations: Complete in-house manufacturing across solar pumps and modules ensures better cost control, quality, and execution. • Strong Visibility from Government Schemes: Major beneficiary of PM-KUSUM Yojana with significant pending installations, offering multi- year growth visibility. • Robust Order Book: ₹1,100-1,200 crore order book provides strong revenue visibility, supported by steady institutional and retail demand pipeline. • Extensive Domestic Distribution: Pan-India network of 925 distributors enables deep market penetration and reach across key geographies. • Export Growth Opportunity and Product Portfolio Expansion: Existing presence in 22 countries with focused expansion into high- potential regions like the U.S., South Africa, and Spain. It has also entered into industrial pumps and electric motors taps into fast-growing industrialization and infrastructure-led demand in India. Particulars (in Rs. Million) 9M FY25 FY24 FY23 Revenue 10,656.71 7,585.71 3,850.36 Total Income 10,673.44 7,612.34 3,874.72 Gross Profit 4,835.49 2,556.05 1,181.94 Gross Margin (%) 45.38% 33.70% 30.70% EBITDA 3,210.10 1,501.24 578.19 EBITDA Margin (%) 30.12% 19.79% 15.02% PAT 2,167.09 976.65 341.99 PAT Margin (%) 20.30% 12.83% 8.83% IPO Dates Issue Opening Date June 13, 2025 Bid/Offer Closing Date June 17, 2025 Finalization of Allotment June 18, 2025 Credit of Equity Shares June 19, 2025 Listing Date June 20, 2025 Application Lots Shares Amount Retail (Min) 1 24 ₹14,736 Retail (Max) 13 312 ₹1,91,568 S-HNI (Min) 14 336 ₹2,06,304 S-HNI (Max) 67 1,608 ₹9,87,312 B-HNI (Min) 68 1,632 ₹10,02,048 IPO Details Fresh Issue ₹890.00 Cr Offer for Sale ₹497.34 Cr Total Issue Size ₹1,387.34 Cr Face Value ₹1 per share Issue Price Band ₹584 to ₹614 Objects of the Issue (Rs. in crores) Amount Capex Funding 89.86 Subsidiary Capex 272.76 Debt Repayment 280 Subsidiary Debt Repayment 31 General Corporate • Particulars Pre-offer Post-offer Promoters 97.66% 78.13% Promoter Group 2.22% 1.94% Public- Others 0.12% 19.93% Valuations (FY25 annualized) Upper Band Market Cap (Rs. Cr) 6,998 Adj EPS 25 PE 24 EV/EBITDA 16 Enterprise Value (Rs. Cr) 6,762 Source: IPO Prospectus (all figures taken at upper band) OSWAL PUMPS LIMITED: IPO NOTE

Market potential for Solar Pumps: India’s agricultural sector presents a solar-pump opportunity worth roughly ₹3.6 trillion. Of the nation’s 144 million farmers, some 8 million still rely on diesel pumps; replacing each with a ₹1.5 lakh solar set yields a ₹1.2 trillion market while cutting fuel dependence. Another 114 million farmers have no pump at all, and roughly 1/3rd of them—those with holdings above one hectare—represent an untapped market of about ₹2.4 trillion. Solar pumps harness renewable solar energy to provide cost-effective, low-maintenance, and eco-friendly water pumping solutions, especially suited for remote and off-grid areas. Compared to traditional electric or diesel pumps, they offer zero fuel costs, reduced emissions, and greater reliability during power outages.