Metalic Technoforge Limited
Metalic Technoforge Limited is a Rajkot-based manufacturer of precision-engineered closed-die forged and machined metal components, serving domestic and international OEMs across automotive, farm equipment, oil and gas, hydraulics, and construction sectors. The company is raising ₹49.96 crores through an entirely fresh-issue SME IPO listing on NSE SME.
Overview
About the Company
Established in October 2016 and headquartered in Rajkot, Gujarat, Metalic Technoforge Limited manufactures closed-die forged and precision-machined metal components. Its product range includes rings, ball studs, gear blanks, gears, coupling assemblies, and other safety-critical components. The company's integrated facility in Rajkot covers forging, heat treatment, and precision machining, supported by in-house tooling and die manufacturing capabilities. It caters to both domestic and international OEMs in automotive (cars, tractors, commercial vehicles) and non-automotive segments (agricultural equipment, hydraulics, construction machinery, general engineering). The company holds international quality certifications including IATF 16949:2016 and PED-2014/68/EU, with export presence in markets such as Germany and the United States. As of March 2026, it employed 188 personnel and maintained an order book of approximately ₹2,447.06 lakhs.
Company Details
📋 Objects of Issue (Use of Proceeds)
- › Capital expenditure for establishing the proposed Manufacturing Unit IV and upgrading existing facilities at the Rajkot manufacturing complex (₹30.81 crores).
- › Full or partial repayment and/or prepayment of certain outstanding secured borrowings (₹6.72 crores).
- › General corporate purposes.
✅ Strengths
- ✓ The company supplies forged and machined components to well-known automotive and industrial OEMs in both Indian and international markets, giving it a diversified and reputable customer base.
- ✓ Its Rajkot manufacturing facility integrates forging, heat treatment, and precision machining under one roof, enabling better quality control and operational efficiency.
- ✓ Metalic Technoforge holds globally recognised quality certifications including IATF 16949:2016 and the European PED-2014/68/EU pressure equipment directive, enhancing its competitiveness in export markets.
- ✓ The company operates across several end-use sectors — including farm equipment, hydraulics, oil and gas, and construction — reducing its dependence on any single industry.
- ✓ It maintains in-house tooling and die manufacturing infrastructure along with design simulation software, supporting product customisation and faster development cycles.
⚠️ Risks
- ! A significant concentration risk exists as the top 10 customers account for approximately 64.61% of total operational revenue, making the business vulnerable to customer attrition.
- ! Geographically, more than 62% of domestic revenues are concentrated in just three states — Gujarat, Maharashtra, and Uttar Pradesh — limiting diversification.
- ! The company's revenue is heavily dependent on gears and transmission components, leaving it exposed to any sector-specific demand slowdown.
- ! Raw material procurement is heavily concentrated among suppliers based in Gujarat, posing supply chain risks in the event of regional disruptions.
- ! The workforce has experienced high attrition rates of up to 24.18%, which could affect operational continuity and increase recruitment and training costs.