Atmastco Limited was originally incorporated as "Atmastco Private Limited" as a Private Limited Company at Bhilai, Chhattisgarh on April 07, 1994, issued by the RoC, Madhya Pradesh. Subsequently, the Company was converted into a Public Limited Company by the Shareholders on March 22, 2016, and its name was changed to "Atmastco Limited" on May 10, 2016. The company traces its roots back to 1988 when it began operations as a partnership firm, making it a well-established player in the engineering sector with over three decades of operational experience.
Atmastco Ltd is an ISO 9001, ISO 14001, ISO 45001, ZED certified multidisciplinary engineering company for the design, manufacture, supply, erection, and commissioning of high-precision mechanical equipment and specialized heavy structures for core industrial sectors like steel, energy and power, railway, cement, and infrastructure, water systems. The company is engaged in the business of engineering, procurement and construction (EPC), steel fabrication, and defense.
Atmastco operates primarily in three key business verticals. The company initially started with trading of steel goods/items and industrial goods, and later commenced its commercial activities in the engineering and erection business. The manufacturing capabilities are impressive, with a handling capacity of the plant being 350 MT considering Unit I and Unit II together. The company has invested in advanced technology, having installed CNC Plasma Plate Processing Line and Punching and Drill Machines, which are duly imported from Germany (Kalentbach, Germany), to ensure quality output.
The company expanded its operations significantly in 2012 when it started manufacturing Heavy Structures for Super Critical Boilers for Bharat Heavy Electrical Ltd. (BHEL) and L&T. A new Beam Processing Line has also been installed for manufacturing railway bridges and girders, demonstrating the company's capability in critical infrastructure projects.
In a strategic diversification move, the Company acquired a wholly owned subsidiary, "Atmastco Defence Systems Private Limited," in July 2020, to carry on the business of manufacturing bulletproof jackets & helmets for paramilitary forces, especially for military applications, and full body protectors for female troops, along with related activities. Additionally, in FY23, they added a new business line as a contractor for the construction and setting up of factory premises for private players.
The market cap of ATMASTCO Ltd is ₹552.33 Cr as of June 30, 2025. The company has shown a strong growth trajectory with revenue growing at a yearly rate of 20% over the last 5 years, versus the industry average of 12.31%. More impressively, net income has grown at a yearly rate of 43.38% over the last 5 years, versus the industry average of 22.73%.
Recent financial highlights include:
- Operating revenue of Rs. 589.74 Cr on a trailing 12-month basis.
- Annual revenue growth of 29% and a Pre-tax margin of 9%.
- ROE of 15%.
- Reasonable debt to equity ratio of 20%.
On May 31, 2025, Atmastco Ltd approved audited FY25 results and appointed auditors, with the auditor's report being unmodified with standard notes.
The 52-week high of ATMASTCO Ltd is ₹393.90 and the 52-week low is ₹162.20. Over the past 6 months, the Atmastco share price has decreased by 9.85%, and in the last one year, it has decreased by 31.66%.
Key valuation metrics as of June 30, 2025, include:
- P/E (price-to-earnings) ratio of 28.66/24.29 (different sources show slight variations).
- P/B (price-to-book) ratio of 5.10.
The ownership structure shows significant changes recently. Promoter holding in Atmastco Ltd has gone down to 68.43% as of Sep 2024 from 97.39% as of Feb 2024. This substantial reduction in promoter shareholding indicates either dilution through public offerings or strategic stake sales.
ATMASTCO Ltd belongs to the Materials sector & Iron & Steel sub-sector. While the company operates in a competitive space, it has been expanding its market presence. Over the last 5 years, its market share increased from 0.02% to 0.04%, indicating gradual but steady market penetration.
The company went public relatively recently, with the listing date being February 23, 2024, and G S Venkatasubramanian serving as Chairperson. This makes it a relatively new entrant to the public markets, having successfully transitioned from a private entity to a listed company.
Atmastco Ltd represents a well-established engineering company with diversified operations spanning traditional heavy engineering, defense manufacturing, and infrastructure development. The company's strong revenue growth, improving market share, and strategic expansion into defense and EPC contracting position it as a noteworthy player in India's industrial landscape.
