Teamtech Formwork Solutions IPO

Incorporated in November 2018, Teamtech Formwork Solutions Limited operates on a business-to-business (B2B) model, manufacturing, refurbishing, and renting modular T-formwork and customised formwork systems for the construction industry. The company’s product portfolio includes standard panels, customised panels, and formwork accessories & supporting components, which together form a complete modular formwork system for various construction requirements. The company provides modular T-formwork systems with customised design, engineering, technical support, refurbishment, and rental solutions for vertical concrete structures such as walls, shafts, tanks, bridges, foundations, and circular walls. The company operates a 20,000 sq. ft. in-house manufacturing and refurbishment facility in Bollaram, Telangana, equipped with laser and plywood cutting machinery. It also uses specialised formwork planning software for project design, panel estimation, and operational planning. As of March 31, 2026, the company had 100 employees across administration, engineering, operations, R&D, logistics, finance, sales, and management departments.

Teamtech Formwork Solutions Ltd.'s revenue increased by 64% and profit after tax (PAT) rose by 48% between the financial year ending with March 31, 2026 and March 31, 2025. Period Ended 31 Mar 2026 31 Mar 2025 31 Mar 2024 Assets 66.75 40.00 24.96 Total Income 54.23 32.98 30.31 Profit After Tax 11.59 7.84 7.69 EBITDA 17.50 9.24 9.11 NET Worth 33.22 21.63 13.79 Reserves and Surplus 22.21 19.07 11.23 Total Borrowing 16.68 11.10 3.64 Amount in ₹ Crore

The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Funding of Capital Expenditure towards purchase of Plant and Machineries for new manufacturing unit 11.92 2 Repayment/prepayment of all or certain of the borrowing availed by your company 15.50 3 To meet the working capital requirements 13.77 4 General Corporate Purpose Total 41.19

KPI Mar 31, 2026 ROE 42.26% ROCE 40.92% Debt/Equity 0.50 RoNW 34.89% PAT Margin 21.60% EBITDA Margin 32.61%

[Dilip Davda] TFSL is engaged in the manufacturing, refurbishing and renting of modular T formwork for construction industry on a B2B model. The company posted surprising growth in its bottom lines for the reported periods. Bumper top and bottom lines for FY26 raise eyebrows and concern over sustaining such fancy margins going forward. Based on its recent overall financial data, the issue appears aggressively priced. Only well-informed/cash surplus/risk seeker investors may park moderate funds for medium term. Read detail review...