Smarten Power Systems Limited (NSE SME)
July 7, 2025 – July 9, 2025
| Price | ₹100 - ₹100 |
| Premium | ₹0 |
|---|---|
| Lot size | 1200 |
| Allotment | Jul 10, 2025 |
| Listing | Jul 14, 2025 |
About
| Category | Lot(s) | Qty | Amount | Reserved |
|---|---|---|---|---|
| INDIVIDUAL | 2 | 2400 | 240000 | 989 |
| sHNI | 3 | 3600 | 360000 | 220 |
| bHNI | 9 | 10800 | 1080000 | 440 |
IPO Reservation
| Investor Category | Shares Offered | No. of Shares |
|---|---|---|
| INDIVIDUAL | 47.49% | 23,74,800 |
| HNI | 47.49% | 23,74,800 |
| Market Maker | 5.02% | 2,50,800 |
| Total | 100.00% | 50,00,400 |
IPO Details
| Total Issue Size | 50,00,400 shares (aggregating up to 50.00 Cr) |
| Fresh Issue | 40,00,800 shares (aggregating up to 40.00 Cr) |
| Offer for Sale | 9,99,600 shares (aggregating up to 9.99 Cr) |
| Issue Type | Fixed Price IPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 1,50,00,000 shares |
| Share Holding Post Issue | 1,90,00,800 shares |
| Reserved for Market Maker | 2,50,800 shares (aggregating up to 2.51 Cr) |
| Market Maker | Arihant Capital Markets Limited |
Key Performance Indicator (KPI)
| KPI | Mar-25 | Mar-24 | Mar-23 |
|---|---|---|---|
| ROE | 39.72% | 56.51% | 44.77% |
| ROCE | 32.58% | 51.44% | 40.84% |
| EPS (basic) | 8.51 | 7.53 | 3.51 |
| P/E Pre IPO | 11.75 | ||
| P/E Post IPO | 14.88 |
Company Financial In Crore
| Period Ended | Mar-25 | Mar-24 | Mar-23 |
|---|---|---|---|
| Assets | 97.24 | 79.28 | 76.01 |
| Revenue | 203.2 | 198.73 | 186.06 |
| Profit After Tax | 12.77 | 11.29 | 5.16 |
| EBITDA | 16.92 | 13.54 | 1.86 |
| Net Worth | 38.54 | 25.77 | 14.48 |
| Reserves and Surplus | 23.54 | 24.77 | 13.48 |
| Total Borrowing | 16.59 | 6.68 | 4.13 |
Company Overview
- Incorporated in 2014
- Engaged in designing and assembling power backup and solar products
- Operates under its own registered brand name "SMARTEN"
Business Operations
- Offers products such as Home UPS systems, Solar Inverters, Power Conditioning Units (PCUs), Charge Controllers, Solar Panels, and Inverter Batteries
- The product portfolio includes 372 SKUs across six categories
Market Presence
- Active in 23 states and 2 union territories across India
- International presence in 17 countries, including markets in the Middle East, Africa, and South Asia
Distribution and Service Network
- Works with 382 distributors
- Operates 52 service centers for after-sales support
Workforce
- As of May 31, 2025, the company has 252 departmental employees
Strength
Diverse and Evolving Product Portfolio: The company offers over 372 SKUs across six major categories, including home UPS systems, solar inverters, PCUs, charge controllers, solar panels, and batteries. This wide product range caters to both residential and commercial segments, making it adaptable to various customer needs and market trends.
Strong R&D Expertise and Innovation Focus: Smarten's dedicated R&D team, with over a decade of experience in power electronics, consistently drives innovation in product design, quality, and efficiency. Their expertise in inverter technology, energy storage, and power conversion helps the company stay ahead in the competitive solar and power backup industry.
Robust Distribution and Service Network: The company has a strong footprint across 23 Indian states and 2 union territories, supported by 380 distributors and 52 service centers. It also operates globally with 31 international distributors. This extensive network ensures wide product accessibility and reliable after-sales support.
Weakness
Lack of Long-Term Agreements with Distributors: The company operates through a non-exclusive distributor network but does not have long-term contracts in place. This makes it vulnerable to losing distributors or facing disruptions in distribution, which could negatively impact business growth, brand reach, and revenue.
Dependency on External Suppliers for Core Products: Smarten relies on third-party vendors for key components used in Home UPS systems and Solar Inverters/PCUs. Any failure by these suppliers to meet quality or delivery commitments could disrupt production and adversely affect operations and financial performance.
High Supplier Concentration in Trading Business: A large portion of revenue comes from trading batteries and solar panels, where the company depends heavily on a few key suppliers. Purchases from the top five suppliers accounted for over 85% in the last three financial years. Any disruption in supply from these vendors may significantly affect the company’s trading revenue and profitability.
Lead Manager(s)
Address
374,
1st Floor Pace City-2
Sector - 37,
Gurgaon, Haryana, 122001
Phone: 0124-2210651
Email: cs@smartenpowersystems.com
Website:http://www.smartenpowersystems.com/