Aprameya Engineering Limited, founded in 2003 by medical engineers Mr. Saurabh Bhatt and Mr. Chetan Joshi, has evolved into a prominent player in India's healthcare infrastructure sector. It operates as an India-based healthcare solutions provider involved in the trading of medical support equipment and supplies for infrastructure projects within the healthcare sector.
The company specializes in comprehensive healthcare facility development and medical equipment distribution. Since its incorporation in September 2003, Aprameya Engineering Limited has focused on the installation and maintenance of critical care units such as Intensive Care Units (ICU), Neonatal Intensive Care Units (NICU), Pediatric Intensive Care Units (PICU), Operation Theatres (OT), and prefabricated structure wards for hospitals and medical care centers.
This primary business segment involves providing turnkey solutions for healthcare infrastructure development. The company offers end-to-end solutions covering design, execution, and integration of ICUs, NICUs, PICUs, Modular Operation Theatres (MOTs), Dialysis Centers, and Prefabricated Wards. The scope of these projects also includes the integration of MEP systems, fire safety, structural design, and hospital interiors, tailored for public healthcare institutions.
Aprameya Engineering has demonstrated significant execution capabilities, having installed approximately 2,000 critical care beds (ICUs, NICUs, PICUs, OTs) since 2020. Revenue from these projects grew from Rs 11.65 crore in FY21 to Rs 64.60 crore in FY23.
Aprameya Engineering also operates as a distributor and supplier of high-value medical equipment. It supplies advanced healthcare and diagnostic equipment to both private and government hospitals, as well as medical practitioners. The company is an authorized dealer for leading medical equipment manufacturers and suppliers, including Johnson & Johnson Private Limited and Stryker India Private Limited.
The company's diverse equipment portfolio caters to multiple medical specialties, such as cardiology, neurology, anesthesiology, nephrology, biochemistry, homecare, surgery, and radiology.
The company serves a diversified client base comprising private and government hospitals, medical practitioners, medical colleges (like AIIMS), and diagnostic centers nationwide. Aprameya Engineering has established strong relationships with governmental medical institutions, particularly in Rajasthan, where it has executed several turnkey projects. Notable partnerships include those with Dr. S N Medical College (Jodhpur), Government Medical College (Kota), RMSCL (Jaipur), RNT Medical College (Udaipur), and SMS Medical College (Jaipur).
Aprameya Engineering made its public debut through a successful IPO in 2024. The scrip was listed at ₹72, a premium of 24.14% over its IPO price. The IPO itself was highly subscribed, attracting 128.12 times its offering. The issue opened for subscription on July 25, 2024, and closed on July 29, 2024, with a price band set between ₹56 to ₹58 per share. The IPO comprised a fresh issue of 50,40,000 shares.
Prior to the public issue, the company raised ₹8.31 crore from anchor investors on July 24, 2024, by allotting 14.34 lakh shares at ₹58 per share to 7 anchor investors.
- Market Capitalization: ₹316.06 Cr
- 52-Week High: ₹188.35
- 52-Week Low: ₹55
- P/E Ratio: 19.59
- P/B Ratio: 13.52
- Revenue from Operations: Rs 65.16 crore
- Net Profit: Rs 3.45 crore
Recent Performance Highlights:
The company has reported exceptional growth recently, with revenue increasing by 108% to INR 136 Cr. This was accompanied by margin improvements, a strong order book of INR 60 Cr, and strategic expansion plans. Aprameya Engineering reported a 108% revenue growth to Rs 1,363 Mn, with Profit After Tax (PAT) up by 364%, and expansion into Maharashtra.
- Operating Revenue (TTM): Rs. 278.99 Cr
- Annual Revenue Growth: 108% (outstanding)
- Pre-Tax Margin: 16% (great)
- Return on Equity (ROE): 25% (exceptional)
- Debt to Equity Ratio: 9% (reasonable, signaling a healthy balance sheet)
As of June 2024, the company employs 43 individuals and operates multiple facilities to support its business. It maintains four warehouses: two located in Memnagar, Ahmedabad; one in Prahladnagar, Ahmedabad; and a fourth on Ashram Road, Ahmedabad.
Aprameya Engineering maintains a healthy order book and has clear expansion strategies. The company reported a Rs 60 Cr order book and plans to utilize Rs 29.23 Cr from IPO funds for expansion in healthcare infrastructure. Strategically, the company is expanding its geographical presence, with recent entry into Maharashtra.
- Promoter Holding: 73.53% (post-IPO). This indicates strong promoter confidence, with their shareholding diluting from 100% pre-IPO to 73.53% after the IPO.
Aprameya Engineering Limited stands as a specialized player in India's growing healthcare infrastructure sector, boasting a proven track record of execution, robust financial performance, and a clear growth trajectory fueled by the increasing demand for healthcare facilities across the country.
