Hy-Tech Engineers IPO

About Hy-Tech Engineers IPO

The Hy-Tech Engineers IPO, a mainboard IPO, opens on Monday, August 24, 2026 and closes on Thursday, August 27, 2026. The allotment of shares will take place on Friday, August 28, 2026. The credit of shares to the demat account will take place on Monday, August 31, 2026. The initiation of refunds will take place on Monday, August 31, 2026. The listing of shares will take place on Tuesday, September 1, 2026. The equity shares offered through the IPO are proposed to be listed on the BSE and the NSE.

The offer consists of both a fresh issue and an offer for sale component. The fresh issue will include 1,13,20,754 shares aggregating up to ₹60 crore. The offer for sale portion includes 1,42,89,450 shares of ₹5 face value aggregating up to ₹76 crore. The total number of shares and aggregate amount are 2,56,10,204 shares aggregating up to ₹136. crore.

Hy-Tech Engineers IPO's price band is set at ₹50 to ₹53 per share. The lot size for an application is 283. The minimum amount of investment required by a retail investor is ₹14,999 (283 shares) based on the upper price band.

Hy-Tech Engineers is an engineering company that designs, manufactures, and supplies hydraulic fittings for diverse industrial applications, with over four decades of operational experience.

Objectives of Hy-Tech Engineers IPO

• Funding the capital expenditure requirements towards procurement of machinery and equipment for expansion at Kavathe Unit, Shirwal Unit and Pithampur Unit-I;
• Prepayment or repayment, in full or in part, of ₹16.00 crore of certain outstanding borrowings availed by the Company.
• General corporate purposes.

Industry Outlook

Hydraulic fittings connect pipes, tubes, and hoses to ensure leak-proof transmission of pressurised hydraulic fluids. India's demand for these components is rising. According to the CARE Report the Indian hydraulic fittings market grew from USD 271.8 million in CY21 to USD 427.9 million in CY25, registering a compounded annual growth rate of 10% over that period. The market is projected to expand at a higher CAGR of 11% between CY26 and CY31, reaching USD 725.2 million by CY31.

Compression fittings hold the largest share of this market. The segment grew from USD 81.5 million in CY21 to USD 119.5 million in CY25 at a CAGR of approximately 10.0%, and is projected to reach USD 216.8 million by CY31 at a CAGR of around 10.5% during CY26 to CY31. Growth is driven by expansion across manufacturing, construction, automotive, and agriculture. Rising infrastructure development and industrialisation continue to lift demand for high-quality hydraulic systems and the fittings within them.

Exports are a growing contributor. Indian hydraulic fitting exports rose to USD 114.2 million in FY26 at a CAGR of approximately 21.2%, per the Industry Overview chapter. Improved precision manufacturing and wider acceptance of Indian fittings against global OEM standards support this trend. Hy-Tech Engineers supplies to eleven overseas markets and is positioned to benefit from this export momentum.

About Hy-Tech Engineers Limited

Hy-Tech Engineers Limited designs, manufactures, and supplies hydraulic fittings. Its portfolio comprises DIN-metric fittings, JIC flared and flareless fittings, O-Ring Face Seal fittings, conversion fittings, and fittings customised to customer specifications. As of March 31, 2026, the portfolio consisted of more than 11,000 stock keeping units serving construction machinery, automotive, farming machinery, injection moulding machines, and hydraulic systems. Certifications enabling supply to the railways and defence sectors have widened its addressable market.

Manufacturing is spread across six operational facilities. Four are located in Maharashtra and two in Madhya Pradesh, with a combined installed base that includes the 192.00 lakh pieces per annum Kavathe Unit and the 144.00 lakh pieces per annum Shirwal Unit. The Nashik Unit provides backward integration by supplying forged components to the other units, which reduces reliance on external suppliers. The Company is promoted by Hemant Tukaram Mondkar, Surekha Hemant Mondkar, and Ashwin Hemant Mondkar.

Strengths of Hy-Tech Engineers

• The company maintains a portfolio of more than 11,000 SKUs and added 880 new SKUs in Fiscal 2026, supported by in-house application-specific product development.
• The company served 170 direct customers in Fiscal 2026 through a dual-channel model that combines direct OEM sales with a distributor network spanning domestic and overseas markets.
• The company exported hydraulic fittings to eleven countries, including the USA, Belgium, Poland, Russia, Brazil, Italy, Saudi Arabia, Hungary, UAE, Thailand, and Germany, over the last three Fiscals.
• The Nashik Unit provides backward integration by supplying forged components to the other units, reducing external supplier reliance and improving cost, lead time, and quality control.
• The company draws on over four decades of experience in the hydraulic fittings industry under its Promoter, Hemant Tukaram Mondkar.
• A decentralised, cell-based manufacturing model organises operations into self-contained cells aligned to specific customer requirements or product categories.

Risks of Hy-Tech Engineers

• The ten largest customer groups contributed a significant and rising share of revenue, and the absence of long-term or exclusive contracts means order volumes could fall if customers shift to competitors.
• Exports accounted for 29.37%, 28.30%, and 33.14% of total revenue in Fiscals 2026, 2025, and 2024, exposing revenue to exchange-rate swings and adverse developments in overseas markets.
• Profit after tax declined year-on-year in Fiscal 2024, and the company may be unable to sustain growth in profitability in future periods.
• Construction machinery, farming, and automotive segments together contributed 54.82%, 52.33%, and 54.55% of revenue in Fiscals 2026, 2025, and 2024, so a slowdown in these sectors would directly reduce revenue.
• Four of the six manufacturing facilities are in Maharashtra and two in Madhya Pradesh, concentrating operations such that any regional disruption could halt production.
• The company has not yet placed orders for the machinery to be funded from the net proceeds, and any delay in procurement could defer the planned capacity expansion.

Anchor Investor Bidding Date

Friday, August 21, 2026

IPO Registrar and Book Running Lead Managers

Registrar Details
Bigshare Services Private Limited
Email: ipo@bigshareonline.com
Phone: +91 22 6263 8200

Book Running Lead Manager
New Berry Capitals Private Limited

Hy-Tech Engineers Contact Details
Plot No. A-160, Main Road, Wagle Industrial Estate, Thane- 400604, Maharashtra
Email: hytechcs@hytechengineers.com
Phone: +91 22 4097 1916

Hy-Tech Engineers Business Model

The company earns its revenue through the design, manufacture, and supply of hydraulic fittings on a business-to-business basis. Revenue is generated through direct sales to OEMs and industrial customers and through a network of distributors and distribution partners across domestic and overseas markets. Direct engagement allows the Company to build long-term relationships and offer customised solutions, while distributors maintain local inventory, promote products, and provide after-sales support.

Hy-Tech Engineers Growth Trajectory

Hy-Tech Engineers Limited's Total Income for FY26 was ₹193.44 crore, whereas in FY25 and FY24 it was ₹166.71 crore and ₹141.17 crore, respectively.

The Profit After Tax for FY26 was ₹22.59 crore, whereas in FY25 and FY24 it was ₹19.62 crore and ₹11.60 crore, respectively.

Their EBITDA for FY26 was ₹41.69 crore, whereas in FY25 and FY24 it was ₹35.79 crore and ₹22.55 crore, respectively.

Hy-Tech Engineers Market Position

Hy-Tech Engineers Limited supplies hydraulic fittings to 170 direct customers and a network of seven distributors and distribution partners as of Fiscal 2026. Its international footprint spans eleven markets, including the USA, Belgium, Poland, Russia, Brazil, Italy, Saudi Arabia, Hungary, UAE, Thailand, and Germany. Manufacturing is carried out at six facilities across Maharashtra and Madhya Pradesh, with the Nashik Unit providing backward integration through captive forging.

As of 31 March 2026, the company's Total Income, Profit After Tax, and EBITDA were ₹193.44 crore, ₹22.59 crore, and ₹41.69 crore, respectively.

How to apply for Hy-Tech Engineers IPO?

• Step 1: Log in to your Kotak Neo Demat account to access IPO investments. Next, select the current IPO section.
• Step 2: Specify IPO details. Enter the number of lots and the price you wish to apply for.
• Step 3: Enter UPI ID. After entering your UPI ID, click submit. This will place your bid with the exchange.
• Step 4: Mandate Notification. Your UPI app will receive a mandate notification to block funds.
• Step 5: Approve Request. Your funds will be blocked once you approve the mandate request on your UPI.