IPO Details
- Opening Date
- Close Date
- Allotment Date
- Listing Date
- Face Value
- Issue Price
- Market Lot
- Total Issue Size
- September 27, 2024
- October 1, 2024
- October 3, 2024
- October 7, 2024
- 10
- 435 to 458
- 10
- ₹33.53 Crores
HVAX Technologies IPO: Invest in Innovation
Overview
HVAX Technologies Limited, established in 2010, stands at the forefront of engineering and technology innovation. With its corporate office located at 601, Lodha Supremus, I-Think Techno Campus, Kanjurmarg (East), Mumbai, Maharashtra, the company has garnered a reputation for delivering superior solutions across industries. HVAX specializes in the design, development, and supply of high-quality air handling and HVAC systems, with applications in diverse sectors like pharmaceuticals, food and beverage, and heavy industries.
The company is led by experienced promoters Nirbhaynarayan Singh and Prayagdatt Mishra, whose expertise drives HVAX’s operational excellence. HVAX Technologies is preparing for its upcoming IPO, showcasing confidence in its growth trajectory and expansion plans. The company offers a range of cutting-edge products and services that adhere to global standards, backed by robust R&D, a skilled workforce, and state-of-the-art facilities.
HVAX is committed to sustainability and focuses on energy-efficient systems, earning recognition across national and international markets. The IPO listing on the NSE EMERGE platform will enhance HVAX’s visibility and financial strength, allowing it to capitalize on growing demand for innovative air management solutions.
With a strategic approach and a customer-centric focus, HVAX Technologies is poised to play a crucial role in advancing India’s industrial infrastructure while maintaining a competitive edge in the global market. The company’s financial health and expansion plans make it an attractive proposition for investors looking to invest in a growing and innovative sector.
Company Financial
Restated Summary Statement of Assets and Liabilities
| Category | As at June 30, 2024 | As at June 30, 2023 | As at March 31, 2024 | As at March 31, 2023 | As at March 31, 2022 |
| ASSETS | |||||
| Non-current assets | |||||
| Property, Plant & Equipment | 467.86 | 355.60 | 452.79 | 313.75 | 311.58 |
| Right-of-use Assets | 592.70 | 567.03 | 587.80 | 545.83 | 462.21 |
| Goodwill | 696.47 | 325.77 | 696.47 | 325.77 | 10.91 |
| Other Intangible Assets | 291.26 | 306.58 | 304.31 | 319.74 | 16.27 |
| Investment in Associates | 60.27 | 66.47 | 60.36 | 66.97 | - |
| Financial Assets (Investments) | 1,682.99 | 1,312.20 | 1,382.28 | 1,616.40 | 1,280.02 |
| Other Financial Assets | 96.22 | 109.93 | 94.89 | 80.54 | 57.30 |
| Income Tax Assets | 174.07 | 177.43 | 160.30 | 157.45 | 109.17 |
| Other Assets | 57.08 | 26.05 | 53.60 | 31.49 | 24.64 |
| Total Non-current Assets | 4,118.91 | 3,247.06 | 3,792.79 | 3,457.95 | 2,272.11 |
| Current assets | |||||
| Inventories | 56.30 | 10.90 | 48.69 | 10.64 | 17.74 |
| Financial Assets (Investments) | 2,918.32 | 4,692.95 | 3,728.47 | 4,857.15 | 9,067.98 |
| Trade Receivables | 1,189.59 | 950.17 | 963.85 | 1,062.35 | 1,111.93 |
| Cash and Cash Equivalents | 836.49 | 1,220.26 | 887.05 | 832.52 | 1,096.13 |
| Bank Balances Other than Cash | 3.01 | 1.41 | 3.80 | 31.40 | 7.74 |
| Other Financial Assets | 906.96 | 734.71 | 826.80 | 651.87 | 319.85 |
| Other Assets | 311.66 | 329.42 | 277.97 | 376.77 | 512.25 |
| Total Current Assets | 6,222.33 | 7,939.81 | 6,736.63 | 7,822.70 | 12,133.63 |
| Total Assets | 10,341.24 | 11,186.87 | 10,529.42 | 11,280.65 | 14,405.74 |
| EQUITY AND LIABILITIES | |||||
| Equity | |||||
| Equity Share Capital | 3.81 | 2.66 | 3.01 | 2.66 | 0.86 |
| Instruments Entirely Equity in Nature | 15,090.76 | 15,562.54 | 15,573.26 | 15,562.54 | 15,562.54 |
| Other Equity | (7,649.58) | (6,904.60) | (7,784.81) | (6,508.59) | (3,296.49) |
| Total Equity | 7,444.99 | 8,660.60 | 7,791.46 | 9,056.61 | 12,266.91 |
| Non-current liabilities | |||||
| Financial Liabilities (Borrowings) | 154.61 | - | 95.98 | - | - |
| Lease Liabilities | 470.88 | 477.34 | 467.06 | 444.58 | 408.67 |
| Other Financial Liabilities | 3.78 | 37.39 | - | 37.44 | 18.59 |
| Contract Liabilities | 28.77 | - | 29.01 | - | - |
| Provisions | 40.34 | 38.76 | 39.11 | 38.49 | 27.72 |
| Total Non-current Liabilities | 698.39 | 553.50 | 631.16 | 520.51 | 454.98 |
| Current liabilities | |||||
| Financial Liabilities (Borrowings) | 102.00 | - | 115.21 | - | - |
| Lease Liabilities | 184.73 | 148.48 | 185.94 | 155.02 | 99.54 |
| Trade Payables | 989.47 | 879.94 | 880.90 | 873.17 | 956.14 |
| Other Financial Liabilities | 632.73 | 700.50 | 639.42 | 391.66 | 382.66 |
| Contract Liabilities | 16.18 | 28.36 | 20.93 | 35.04 | 22.69 |
| Other Liabilities | 189.41 | 133.27 | 185.67 | 166.69 | 162.22 |
| Provisions | 83.35 | 82.22 | 78.73 | 81.94 | 60.59 |
| Total Current Liabilities | 2,197.86 | 1,972.77 | 2,106.80 | 1,703.52 | 1,683.85 |
| Total Liabilities | 2,896.25 | 2,526.27 | 2,737.96 | 2,224.03 | 2,138.83 |
| Total Equity and Liabilities | 10,341.24 | 11,186.87 | 10,529.42 | 11,280.65 | 14,405.74 |
Statement of Profit and Loss
| Category | Three months ended June 30, 2024 | Three months ended June 30, 2023 | Year ended March 31, 2024 | Year ended March 31, 2023 | Year ended March 31, 2022 |
| Income | |||||
| Revenue from Operations | 3,222.22 | 2,389.82 | 11,247.39 | 8,264.60 | 5,704.90 |
| Other Income | 87.89 | 119.83 | 386.96 | 449.86 | 414.88 |
| Total Income | 3,310.11 | 2,509.65 | 11,634.35 | 8,714.45 | 6,119.78 |
| Expenses | |||||
| Cost of Materials Consumed | 7.77 | 14.36 | 61.08 | 72.00 | 51.05 |
| Purchases of Stock-in-Trade | 1,195.15 | 897.02 | 4,554.75 | 3,301.95 | 2,224.54 |
| Changes in Inventories of Stock-in-Trade | (7.55) | (1.33) | (11.63) | 6.92 | (7.55) |
| Employee Benefits Expense | 589.19 | 485.78 | 2,012.16 | 2,129.82 | 1,708.49 |
| Finance Costs | 19.83 | 17.40 | 71.40 | 58.19 | 48.38 |
| Depreciation and Amortisation Expense | 121.67 | 91.30 | 420.59 | 285.79 | 170.09 |
| Other Expenses | |||||
| - Advertising and Sales Promotion | 445.37 | 487.13 | 1,850.80 | 2,501.16 | 2,005.07 |
| - Delivery and Related Charges | 1,046.05 | 749.00 | 3,351.06 | 2,834.94 | 2,068.81 |
| - Others | 490.49 | 331.90 | 1,637.18 | 1,693.62 | 1,305.56 |
| Total Expenses | 3,907.96 | 3,072.56 | 13,947.38 | 12,884.40 | 9,574.45 |
| Loss before Share of Loss of Associate, Exceptional Items, and Tax | (597.85) | (562.91) | (2,313.04) | (4,169.95) | (3,454.68) |
| Share in Net Loss of Associate | (0.09) | (0.50) | (6.61) | (0.10) | (1.02) |
| Loss before Exceptional Items and Tax | (597.94) | (563.41) | (2,319.65) | (4,170.05) | (3,455.69) |
| Exceptional Items | (13.07) | (0.67) | (30.59) | (9.26) | (173.20) |
| Loss before Tax | (611.01) | (564.08) | (2,350.24) | (4,179.30) | (3,628.90) |
| Tax Expense | |||||
| - Current Tax | - | - | - | - | - |
| - Deferred Tax | - | - | - | - | - |
| Total Tax Expense | - | - | - | - | - |
| Loss for the Period/Year | (611.01) | (564.08) | (2,350.24) | (4,179.30) | (3,628.90) |
| Other Comprehensive Income (OCI), Net of Tax | |||||
| Items not Reclassified Subsequently to Profit/Loss | 5.46 | - | 93.17 | (9.59) | - |
| - Re-measurement Gain/(Loss) on Defined Benefit Plans | (0.23) | 1.26 | 1.12 | (3.28) | (2.33) |
| Other Comprehensive Income/(Loss) for the Period/Year | 5.22 | 1.26 | 94.29 | (12.87) | (2.33) |
| Total Comprehensive Loss for the Period/Year, Net of Tax | (605.78) | (562.83) | (2,255.95) | (4,192.17) | (3,631.23) |
Board of Directors of Company
Nirbhaynarayan Singh – Chairman and Whole-time Director
Prayagdatt Mishra – Executive Director
Shiv Kumar Mittal – Non-Executive Director
Renuka Kunal Bajaj – Independent Director
Brinda Jitendrakumar Soni – Independent Director
Company contact Details
601, Lodha Supremus,
I-Think Techno Campus,
Kanjurmarg (East),
Mumbai – 400042,
Maharashtra