Stainless Steel Pipes Player ‘P S Raj Steels Limited’ aims to achieve Rs. 500 crores in revenue by FY27; plans to go public soon

• The company sets its sights on IPO to raise capital to fund growth plans in existing and new markets across India
• The Hisar-headquartered company is one of the fastest-growing manufacturers & suppliers of stainless-steel pipes and tubes in India. The product range offered and produced by the PSSR consists of approximately 250 sizes of NB (Nominal Bore) & OD (Outer Diameter) series
• Recorded Rs. 297.74 crore in revenue from operations and a profit (PAT) of Rs. 6.36 crore in FY24, against Rs. 225.42 crore in revenue from operations and with a profit (PAT) of Rs. 3.65 crore in FY23
• Appoints Khambatta Securities Limited as the book running lead manager

New Delhi: P S Raj Steels Limited (“PSSR” or “The Company”), one of the leading manufacturers and suppliers of stainless-steel pipes and tubes in India, today announced its ambitious plans to achieve Rs. 500 crores in revenue by the financial year 2027. Looking to expand its business beyond the existing markets in India, the Hisar-headquartered company has set its sights on an initial public offering (IPO) to fund its growth plans. The company has appointed Khambatta Securities Limited as the book running lead manager to the offer.

P S Raj Steels is one of the fastest-growing manufacturers & suppliers of stainless-steel pipes and tubes in India. The product range offered and produced by the PSSR consists of approximately 250 sizes of NB (Nominal Bore) & OD (Outer Diameter) series are manufactured enough to create its exclusivity, PAN India. The production of bigger diameter pipe & special sizes for different original equipment manufacturers is the edge of PSSR over other industry competitors.

The company operates a manufacturing unit with an installation capacity of 13,460 metric tons per annum, which is spread over an area of 3 acres in Hisar, Haryana. It supplies finished goods under the brand name “PSSR” in 19 states across India, including Uttar Pradesh, Haryana, Punjab, Madhya Pradesh, Delhi, Rajasthan and others.

Commenting on the company’s growth plans, Mr. Deepak Kumar, Managing Director, P S Raj Steels Limited, said, “We committed to implementing strategic initiatives that will drive sustainable growth and maximize shareholder’s value. Our strategies are designed to capitalize on market opportunities, enhance operational efficiency, and maintain a competitive edge in the stainless-steel pipes and tubes industry. In pursuit of expanding our business across India and strengthening it in the existing markets, we are planning to raise funds through an IPO very soon. These expansion plans will enable us to achieve a revenue of Rs. 500 crores by FY2027.”

The Promoters, Mr. Raj Kumar Gupta, Mr. Deepak Kumar, Mr. Vishal Gupta and Mr. Gaurav Gupta are qualified professionals with an individual cumulative experience of more than 5 decades in the Steel Pipes & Tubes industry and have been instrumental in driving the company’s growth since the inception of the business.

PSSR has recorded Rs. 297.74 crore in revenue from operations with a profit (PAT) of Rs. 6.36 crore in the fiscal year 2024, compared with Rs. 225.42 crore and a profit (PAT) of Rs. 3.65 crore in FY23.  Further, the company sources raw materials primarily from Jindal Stainless Limited (“JSL”), one of the largest producers of stainless steel in India. It has maintained a strong relationship with JSL for over 12 years, supported by a Memorandum of Understanding (MOU), ensuring a continuous supply of raw material, which constitutes approximately 95% of the company’s requirements.

The company’s brand, PSSR, has grown into a highly established brand and serves several customers in various sectors, such as Automobile Ancillaries, Heat Exchanger Manufacturing, Rail Coach Ancillaries, Industrial Equipment & Hardware Manufacturing, Decorative Furniture and Railing Manufacturing and General Engineering Manufacturing.