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Hans India
09-05-2025
- Business
- Hans India
IPO-bound Ravi Infrabuild clocks over 10 pc net profit dip in FY24 as expenses rise
Mumbai: Infrastructure firm Ravi Infrabuild Projects Limited, which is preparing to launch an initial public offering (IPO) to raise up to Rs 1,100 crore, has reported a decline in net profit for the financial year 2023-24 (FY24), even as its income and revenue saw growth. According to financial data available on the company's official website, the firm's net profit fell by 10.46 per cent, dropping from Rs 98.49 crore in FY23 to Rs 88.19 crore in FY24. The dip in profitability came despite a 32.68 per cent increase in revenue from operations, which rose to Rs 1,285.16 crore in FY24 from Rs 968.58 crore the previous financial year. The company's total income also climbed by 33.01 per cent year-on-year (YoY), reaching Rs 1,303.89 crore. However, this growth in income was accompanied by a sharp rise in total expenses, which increased by 31.99 per cent to Rs 1,129.16 crore in FY24, up from Rs 855.53 crore in FY23. Among the major cost drivers were a 53.49 per cent rise in employee benefits expense, which grew to Rs 62.79 crore, and a 70.21 per cent increase in depreciation and amortisation, which stood at Rs 31.25 crore in FY24. Additionally, the cost of materials consumed jumped by 47.21 per cent, rising from Rs 318.19 crore in FY23 to Rs 468.38 crore in FY24. The Udaipur-based company, known for its work in highways, ropeways and railway infrastructure, has filed its draft red herring prospectus with market regulator SEBI to raise Rs 1,100 crore through a fresh issue IPO. There will be no offer-for-sale (OFS) component, and the proceeds will be used to purchase equipment, invest in subsidiaries, repay debt, and for general corporate purposes. The company is led by promoters Narayan Singh Rao, Dilip Singh Rao, and Ravi Singh Rao, who together hold 84 per cent of the pre-issue equity share capital. Ravi Infrabuild has executed projects for the National Highways Authority of India (NHAI), the Ministry of Road Transport and Highways, and several state governments.
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Business Standard
09-05-2025
- Business
- Business Standard
Ravi Infrabuild files papers with Sebi to raise Rs 1,100 cr through IPO
Udaipur-based company will use proceeds to invest in subsidiaries and repay borrowings Mumbai Ravi Infrabuild Projects has filed a draft red herring prospectus with the markets regulator to raise up to Rs 1,100 crore through an initial public offering (IPO). The company is involved in nationwide infrastructure work like highways, ropeways, and railways. Its portfolio includes engineering, procurement, construction, and annuity projects. The IPO will be a completely fresh issue of equity shares with a face value of Rs 10 each and no offer for sale element. The company will use the proceeds of the issue for purchasing equipment, investing in subsidiaries for debt repayment, repaying borrowings, and general corporate purposes, according to its application to the Securities and Exchange Board of India. The Udaipur-based company had a net debt of Rs 1,026.5 crore at the end of the first nine months of the financial year 2025 (9M FY25). Revenue from operations stood at Rs 1,027.6 crore and profit after tax (PAT) at Rs 81.9 crore. The company's total order book as of 9M FY25 was worth around Rs 3,092.6 crore. In FY24, the company's revenue stood at almost Rs 1,391 crore and PAT was Rs 124.72 crore. The company's promoters, Narayan Singh Rao, Dilip Singh Rao and Ravi Singh Rao, hold 84 per cent of the pre-issue, issued, subscribed, and paid-up equity share capital of the company. The company has worked on projects of the National Highways Authority of India, the Union Ministry of Road Transport and Highways, and various state governments. Its flagship projects include the Amritsar-Jamnagar economic corridor under Bharatmala Pariyojna and the Ghazipur–Ballia greenfield highway (NH-31) in Uttar Pradesh and Bihar.
