HGS IPO
Open Date
30 Oct 2026
Close Date
3 Nov 2026
Open Date
30 Oct 2026
Close Date
3 Nov 2026
Min Investment
Lot Size
Issue Size
Price Range
Subscribed
IPO Open Now.

Founded In
1986
Director
Anand Narain Bhatia
Financials of Hgs (india) IPO
| Key Performance Indicators | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|
| Operating Revenue | 35.48 | 49.08 | 45.16 |
| Other Income | 2.45 | 4.37 | 3.75 |
Total Income | 37.93 | 53.45 | 48.91 |
Total Expenses | 33.25 | 39.63 | 33.50 |
| Profit Before Tax | 4.68 | 13.82 | 15.42 |
Total Profit | 4.00 | 10.51 | 11.64 |
All figures are in crores (₹)

Utilisation of Proceeds
All figures are in crores (₹)
| Purpose | Amount |
|---|---|
| The company intends to replace existing machinery at its manufacturing facility in Manesar, Gurugram, with advanced injection moulding and tandem extrusion equipment to streamline production, reduce lead time, and improve responsiveness to demand changes. | 15 |
| The company plans to set up an in-house gold plating facility as part of its backward integration strategy, replacing reliance on third-party vendors to improve quality consistency, cost efficiency, and eligibility for larger government and export orders. | 1 |
| The company intends to develop additional building infrastructure of approximately lakhs square feet on the second floor of its existing facility to expand assembly line capacity and streamline manufacturing workflow and logistics. | 3 |
| The company plans to utilize a portion of net proceeds for unidentified acquisitions to expand technological capabilities, product portfolio, and market reach, while the remainder will support general corporate purposes including strategic initiatives, marketing, and capital expenditure. | - |

- Wide Product Portfolio Catering to Various End User Industries: The company offers a comprehensive range of seismic products including geophones, seismic cables, connectors, seismographs, seismometers, and specialized equipment like weight drops and pig tracking systems, deployed across oil & gas, defence, earthquake seismology, and geothermal sectors, reducing dependence on any single product category.
- Precision Engineering Expertise with Complex Product Manufacturing Capabilities: The company possesses around 40 years of manufacturing experience with in-house capabilities including precision geophone element assembly, wire and cable extrusion, injection moulding, coil winding, and automated testing, ensuring products withstand extreme temperatures ranging from -40?C to +200?C.
- Long-Term and Well-Established Relationships with Customers: The company sold products to 149 domestic and foreign customers in FY 2025-26, with repeat orders from around 51 customers over the last 3 fiscal years; the top 10 customers contributed 72.58% of revenue in FY 2025-26, reflecting stable and recurring order flows.
- Focus on Quality Assurance: The company is ISO 9001:2015 certified (by TUV SUD) and holds ZED Gold Certification ('Zero Defect Zero Effect') by the Ministry of MSME; finished geophone sensors undergo rigorous tests including resistance, frequency, damping, sensitivity, distortion, and impedance checks prior to dispatch.
- Established Supply Chain and Sourcing Network: The company maintains a diversified supply chain sourcing raw materials from Germany, Belgium, Malaysia, China, Netherlands, Canada, USA, Italy, and Kazakhstan, with no single-vendor dependency; its factory in Manesar, Haryana is strategically located near New Delhi International Airport for efficient global logistics.
- Experienced Promoters and Professional Management Team: The company is led by Managing Director Anil Dass with ~40 years of industry experience since inception in 1986, supported by CFO Dhiraj Vashista (27 years experience, CA, FCMA, IIM Calcutta alumnus) and WTD Samir Gugnani (39 years experience, BITS-Pilani alumnus), with a total team of 162 employees as of April 30, 2026.

