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SMARTEN IPO

Smarten Power Systems Limited
IPO Doc
Start Date07-07-2025
Application Timing10am-5pm
Price Range₹100 - ₹100
Min Qty1200
Min. Investment₹120000
Listing DateNA
Close Date09-07-2025

About Smarten Power Systems Limited

Smarten Power Systems Limited, incorporated in 2014, is a technology-driven company engaged in designing and assembling power backup and solar energy products. Their product portfolio includes Home UPS systems, Solar Inverters, Power Conditioning Units (PCUs), Charge Controllers, Solar Panels, and Inverter Batteries marketed under their own brand, SMARTEN.

Operating across 23 states and 2 union territories in India and exporting to 17 international markets including the Middle East, Africa, and South Asia, Smarten Power has built a strong presence both domestically and globally. The company works through a robust network of 382 distributors and 52 service centers, ensuring strong after-sales support and market reach.

With over 372 SKUs across six product categories and an employee strength of 252 as of May 2025, Smarten Power Systems is positioning itself as a major player in the renewable and power backup solutions space.

Why To Invest in Smarten Power Systems Limited

Consistent Financial Growth: Revenue grew from Rs. 186.06 Cr in FY23 to ?203.20 Cr in FY25, with PAT growing by 13% YoY.

Strong Return Ratios: ROE at 39.72% and ROCE at 32.58% reflect efficient capital use and strong profitability.

Pan-India and Global Reach: Distribution network across India and presence in 17 countries offer future scalability.

Focus on Renewable Energy: Expanding product range in solar solutions aligns with India's renewable energy push.

Utilization of IPO Proceeds for Growth: Fresh capital to be used for asset purchase, working capital, and debt reduction.

Experienced Leadership: Managed by a skilled leadership team with expertise in R&D, supply chain, and manufacturing.

Financial Table
Period Ended 31 Mar 2025 31 Mar 2024 31 Mar 2023
Assets 97.24 79.28 76.01
Revenue 203.20 198.73186.06
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 6.684.13
Strengths And Risks
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Diverse Product Portfolio: Smarten Power Systems offers 372 SKUs across six categories including Home UPS, Solar Inverters, Charge Controllers, Solar Panels, and Batteries all under its registered brand “SMARTEN”. This wide range enables the company to serve multiple customer needs and capture various market segments.
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Strong Distribution & Service Network: The company operates through 382 distributors and 52 service centers across 23 Indian states and 2 union territories, ensuring strong market presence and after-sales support. Additionally, it exports to 17 countries, strengthening its global footprint.
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Healthy Financial Metrics: With a low debt-to-equity ratio of 0.43, an EBITDA margin of 8.39%, and PAT margin of 6.28%, Smarten Power Systems demonstrates sound financial health. These indicators show that the company is managing its operations efficiently.
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High Return Ratios: The company boasts a strong Return on Equity (ROE) of 39.72% and Return on Capital Employed (ROCE) of 32.58%. Its Return on Net Worth (RoNW) also stands at a healthy 33.14%, reflecting effective use of capital and strong profitability.
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Efficient Working Capital and Growth in Net Worth: Smarten’s Net Worth has increased from Rs.14.48 Cr in FY23 to Rs.38.54 Cr in FY25, indicating consistent financial growth. Its efficient working capital management supports long-term sustainability.
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SME Listing May Bring Volatility: As the IPO is being launched on the NSE SME platform with a total issue size of ?50 crore, it may face higher price volatility and lower liquidity compared to mainboard listings.
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High Competition in Renewable Sector: The solar and power backup industry is highly competitive and technology-driven. Any lag in innovation or product updates could affect the company’s market position.
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Dependency on Third-Party Vendors: The company relies on external vendors for raw materials and components. Any disruption in supply chains may impact production and delivery timelines.
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Delay in Fund Deployment: If the IPO proceeds are not utilized as planned particularly in asset purchase, working capital, or capex it could affect short-term growth and investor confidence.
FAQs
What is the issue size of Smarten Power Systems IPO? +
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