98  Total SME IPOs listed in 2025

4,313.53 Crs.  Total funds raised in 2025

67  SME IPOs listed with Gain in 2025

31  SME IPOs listed with loss in 2025

98  Total SME IPOs listed in 2025

4,313.53 Crs.  Total funds raised in 2025

67  SME IPOs listed with Gain in 2025

31  SME IPOs listed with loss in 2025

98  Total SME IPOs listed in 2025

4,313.53 Crs.  Total funds raised in 2025

67  SME IPOs listed with Gain in 2025

31  SME IPOs listed with loss in 2025

98  Total SME IPOs listed in 2025

4313.53 Crs.  Total funds raised in 2,025.00

67  SME IPOs listed with Gain in 2025

31  SME IPOs listed with loss in 2025

Airfloa Rail Technology Limited IPO Analysis

Airfloa Rail Technology IPO is a Book Building listing on BSE SME exchange, with an ipo size of ₹ [●] Cr. The company is based in Chennai and caters to Railway sector. GYR Capital Advisors is the merchant banker of Airfloa Rail Technology IPO. It is a SME Upcoming IPO which filed its Draft Red Herring Prospectus (DRHP) on 30th June 2025.

Airfloa Rail Technology IPO posted revenues of ₹ 174.76 crores and PAT of ₹ 20.36 crores in FY25 on annualised basis.

IPO Key Highlights

*At the time of IPO, on Annualised Basis
  • Revenue: ₹ 174.76 Cr.
            EBITDA: ₹ 40.61 Cr.
            PAT: ₹ 20.36 Cr.
  • EBITDA Margin: 23.24 %
            Pat Margin: 11.65 %
  • Net Worth: ₹ 100.52 Cr.
  • Market Capitalisation: [●]
  • P/E: [●]
  • P/BV: [●]
  • EV/EBITDA: [●]
Nature of IPO : SME Upcoming
Exchange : BSE SME
IPO Type : Book Building

Airfloa Rail IPO Financial Performance (Restated)

Financial results of Airfloa Rail Technology IPO based on restated financials as per prospectus and IPO review parameters can be referred to below.

Amount in ₹ crores
Financials Dec-24 FY24 FY23 FY22
Balance Sheet
Assets 228.78 201.99 163.89 176.76
Net Worth 100.52 55.98 41.75 40.25
Total Debt 58.80 63.80 60.22 70.85
Profit & Loss
Revenue
Revenue on annualised basis
131.07
174.76
122.87 95.33 137.63
EBITDA
EBITDA on annualised basis
30.46
40.61
34.58 14.68 16.32
PAT
PAT on annualised basis
15.27
20.36
14.23 1.49 3.43
Financials
31-Dec-24
FY24
FY23
FY22
Balance Sheet
Assets
228.78
201.99
163.89
176.76

Net Worth
100.52
55.98
41.75
40.25

Total Debt
58.80
63.80
60.22
70.85

Profit & Loss
Revenue
Revenue on annualised basis
131.07
174.76
122.87
95.33
137.63

EBITDA
EBITDA on annualised basis
30.46
40.61
34.58
14.68
16.32

PAT
PAT on annualised basis
15.27
20.36
14.23
1.49
3.43

Notes:
1) Total debt incluides long-term borrowings and short-term borrowings.
2) Revenue means the Revenue from Operations as appearing in the Restated Financial Statements.

Airfloa Rail IPO Key performance Indicators (KPI)

Airfloa Rail Technology IPO PAT Margin is 11.65 % , ROCE (Return on Capital Employed) is 17.93 % as per latest financial. The below table shows Airfloa Rail Technology IPO Key Performance Indicators (KPI) as mentioned in company’s prospectus.

Particulars Dec-24 FY24 FY23 FY22
EBITDA Margin (%) 23.24 28.14 15.40 11.86
PAT Margin (%) 11.65 11.58 1.56 2.49
EPS (₹) 9.28 9.50 1.00 2.29
ROE (%) 15.19 25.42 3.57 8.52
ROCE (%) 17.93 26.42 11.31 11.56
ROA (%) 6.67 7.04 0.91 1.94
Debt to Equity 0.58 1.14 1.44 1.76
Particulars
31-Dec-24
FY24
FY23
FY22

EBITDA Margin (%)
23.24
28.14
15.40
11.86

PAT Margin (%)
11.65
11.58
1.56
2.49

EPS (₹)
9.28
9.50
1.00
2.29

ROE (%)
15.19
25.42
3.57
8.52

ROCE (%)
17.93
26.42
11.31
11.56

ROA (%)
6.67
7.04
0.91
1.94

Debt to Equity (x)  
0.58
1.14
1.44
1.76

Notes:
1) The EPS represents post-bonus basic EPS.
2) Return on Equity is ratio of Profit after Tax and Total Equity.
3) Return on Assets is ratio of Profit after Tax and Total Assets.
4) Debt to Equity is ratio of Total borrowings and Total Equity.

Airfloa Rail Technology IPO Valuation Metrics

The market Capitalisation of Airfloa Rail Technology IPO is ₹ [●] crores at the time of IPO and other IPO valuation metrics of this IPO is mentioned below.

Key Metrics (at the time of IPO)


Market Capitalisation (₹ Cr.):
[●]

Enterprise Value (EV) (₹ Cr.):
[●]

EV/EBITDA (times) :
[●]

PE Multiple (times) :
[●]

P/B (times) :
[●]

NAV (₹) :
57.93

Notes:
1) The Enterprise Value is calculated as Market Cap. + Total Debt - Cash and Cash Equivalents.
2) Price to Book multiple is calculated as the ratio of Market Cap. and Net Worth post IPO proceeds.

What are the key financial metrics in Airfloa Rail prospectus?

The Airfloa Rail Technology IPO prospectus highlights an Return on Equity (ROE) of 15.19 % , Return on Assets (ROA) of 6.67 %, and an EBITDA Margin of 23.24 %, showcasing financial performance.

How do profitability ratios impact the evaluation of Airfloa Rail IPO?

Profitability ratios like Return on Equity (ROE), Return on Assets (ROA), and Net Profit Margin shows Airfloa Rail Technology IPO financial report. Analysing these metrics can provide insights into the company’s efficiency, profitability, and long-term growth potential.

What is the market capitalisation for Airfloa Rail IPO ?

The post-IPO market capitalisation of Airfloa Rail Technology IPO is ₹ [●] Cr., based on the issue price and share structure. It helps investors gauge the company’s valuation and compare it with industry peers before investing.

What is the PE Multiple of Airfloa Rail IPO?

The Airfloa Rail Technology IPO has a Price-to-Earnings (PE) ratio of [●], indicating valuation compared to industry peers. It helps investors determine if the stock is overvalued or undervalued compared to its earnings and industry peers.

What is the Revenue of Airfloa Rail Technology IPO?

Airfloa Rail Technology IPO reported revenue of ₹ 174.76 Cr. in the latest fiscal year, showing business performance, on annualised basis. Revenue figures from Airfloa Rail Technology IPO provide insights into sales growth, market demand, and business scalability.

What is the EBITDA of Airfloa Rail Technology IPO?

Airfloa Rail Technology recorded an EBITDA of ₹ 40.61 Cr., reflecting operational efficiency. EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortisation) measures operational profitability.

What is the PAT of Airfloa Rail Technology IPO?

Airfloa Rail Technology Profit After Tax (PAT) is ₹ 20.36 Cr., reflecting earnings growth. Profit After Tax (PAT) reflects the company’s actual earnings after all expenses, taxes, and deductions

IPO Key Highlights

*At the time of IPO, on Annualised Basis
  • Revenue: ₹ 174.76 Cr.
            EBITDA: ₹ 40.61 Cr.
            PAT: ₹ 20.36 Cr.
  • EBITDA Margin: 23.24 %
            Pat Margin: 11.65 %
  • Net Worth: ₹ 100.52 Cr.
  • Market Capitalisation: [●]
  • P/E: [●]
  • P/BV: [●]
  • EV/EBITDA: [●]

Revenue

(As Annualised)

EBITDA

(As Annualised)

PAT

(As Annualised)
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FAQs

Airfloa Rail Technology operates in Railway and Manufactures Components For Indian Railways. The Issue is listed on BSE SME in Jul, 2025. Airfloa Rail Technology IPO size was with Issue price of .

Airfloa Rail Technology IPO subscription was X. IPO subscription refers to applications received in an IPO by each quota, i.e., QIB, Retail, and NII. In some IPOs, Eligible employee quota and shareholder’s quota are also present. Learn more about IPO subscriptions here.

Airfloa Rail Technology IPO listed at a listing price of against the offer price of .

The current market price of Airfloa Rail Technology is .

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