Any current/future new fundraising through debt or equity?

The preferential issue planned earlier has been postponed due to turbulent market conditions but may be reconsidered when markets stabilize. The withdrawal of the preferential issue currently has no effect on the company’s liquidity or cash flow; the company is well financed. The company is open to considering various instruments for raising funds, including right issues and preferential issues, to attract investment. There is an emphasis on designing fundraising instruments to accommodate retail investors, with minimum ticket sizes to be discussed. No specific timelines or amounts for

Any current/future capex/capital investment/strategic investment?

Majority of capex will be invested in R&D to develop future technologies and mechanical seals. Normal capex planned to modernize and expand the plant is approximately INR 4 crores. Additional R&D expenses planned around INR 2 crores. Planned capex and R&D investments are targeted for FY '26. No immediate new manufacturing plants planned outside India due to economic factors; focus remains on economies of scale in India. Preference issue fundraise of INR 25 crores for expansion into Middle East and USA is postponed for 3-6 months due to market conditions, not cancelled. New manufacturing unit i

Future growth expectations in sales/revenue/volumes?

Sealmatic aims to achieve consolidated revenue of INR 275 crores by 2028. Service (O&M/end user) business is expected to constitute 35%-40% of revenue by 2028, equating to approximately INR 80-85 crores. Service revenue is projected to start in FY 2027 with INR 15 crores. Russia business expects revenue of around INR 8 crores in FY 2025, growing steadily. Abu Dhabi JV targets around 300 seals installed in 3 years, with business expected to reach $1.5 million. Incremental revenue growth of around 25% projected for FY 2025 over FY 2024. Project business acts as a loss leader now but

Future growth expectations in earnings/operating earnings/profits/EPS?

Sealmatic targets revenue of INR 275 crores by 2028, showing strong medium-term growth. Service/end user business is expected to contribute 35-40% of revenue by 2028, approximately INR 80-85 crores. Service revenue expected to start from FY '27 with INR 15 crores, growing significantly thereafter. FY '25 EBITDA margin guidance is 25%, up from 21% in FY '24, reflecting improving operating profitability. Incremental top-line growth of 25% projected for FY '25 over FY '24. Project business, currently done at a loss, is expected to result in profitable end-user business growth from FY '2

Sealmatic IndiaQ3 FY25

Sealmatic India Q3 FY25 Earnings Call Analysis

Revenue, margin, capex, fundraise and order book outlook from management commentary.

Price: ₹428.75P/E: 45.1Market Cap: ₹466 Cr

Management growth scorecard

Revenue

Category 2

Margin

Category 3

Fundraise

Yes

Order

Yes

Capex

Yes

3 of 5 growth signals are positive.

Full analysis

Revenue guidance

Category 2

Sealmatic aims to achieve consolidated revenue of INR 275 crores by 2028.
Service (O&M/end user) business is expected to constitute 35%-40% of revenue by 2028, equating to approximately INR 80-85 crores.
Service revenue is projected to start in FY 2027 with INR 15 crores.
Russia business expects revenue of around INR 8 crores in FY 2025, growing steadily.
Abu Dhabi JV targets around 300 seals installed in 3 years, with business expected to reach $1.5 million.
Incremental revenue growth of around 25% projected for FY 2025 over FY 2024.
Project business acts as a loss leader now but will lead to significant end-user revenue from FY 2027 onward, signaling a "golden era" of growth.
Current plant capacity utilization is around 80%, with new plant ramp-up to 80% expected in 18 months.
Market expansion is ongoing in CIS, Middle East, Europe, Russia, and the USA.

Margin guidance

Category 3

Sealmatic targets revenue of INR 275 crores by 2028, showing strong medium-term growth.
Service/end user business is expected to contribute 35-40% of revenue by 2028, approximately INR 80-85 crores.
Service revenue expected to start from FY '27 with INR 15 crores, growing significantly thereafter.
FY '25 EBITDA margin guidance is 25%, up from 21% in FY '24, reflecting improving operating profitability.
Incremental top-line growth of 25% projected for FY '25 over FY '24.
Project business, currently done at a loss, is expected to result in profitable end-user business growth from FY '27 onwards.
Capex plans include INR 4 crores for plant modernization and INR 2 crores for R&D annually over the next 2-3 years, supporting innovation and capacity expansion.
Robust order book of approx. INR 50 crores (INR 500 million) indicates healthy revenue visibility.

See what Sealmatic India management said on margin guidance — free account, 30 seconds.

Fundraise plans

Yes

The preferential issue planned earlier has been postponed due to turbulent market conditions but may be reconsidered when markets stabilize.
The withdrawal of the preferential issue currently has no effect on the company’s liquidity or cash flow; the company is well financed.
The company is open to considering various instruments for raising funds, including right issues and preferential issues, to attract investment.
There is an emphasis on designing fundraising instruments to accommodate retail investors, with minimum ticket sizes to be discussed.
No specific timelines or amounts for new fundraising via debt or equity are mentioned for the near future.
The company continues with normal capex (~INR4 crores) and R&D investments (~INR2 crores) funded through existing resources.

Order book

Yes

- As of the latest update, Sealmatic India Limited's order book stands at approximately INR 500 million. - The company expects robust and healthy order inflows to support an incremental top-line growth of 25% in FY '25 and continued growth into FY '26. - The Abu Dhabi joint venture aims to install around 300 seals over 3 years with an expected business worth $1.5 million, reflecting proprietary and profitable end-user business. - Russia market opportunity is valued at approximately $200 million, with projected revenues from Russia alone expected to reach INR 8 crores in FY '25. - For project-related seals in FY '24, 175 seals were done, with a plan for more than 250 seals in the current financial year, although project sales are currently subsidized for future profitable business. - The company anticipates significant recurring revenues beginning FY '27 due to investments in OEMs and projects made in FY '24-'26. (Information sourced primarily from pages 3, 6, 10, 11, 13, and 16)

See what Sealmatic India management said on order book — free account, 30 seconds.

Capex plans

Yes

Majority of capex will be invested in R&D to develop future technologies and mechanical seals.
Normal capex planned to modernize and expand the plant is approximately INR 4 crores.
Additional R&D expenses planned around INR 2 crores.
Planned capex and R&D investments are targeted for FY '26.
No immediate new manufacturing plants planned outside India due to economic factors; focus remains on economies of scale in India.
Preference issue fundraise of INR 25 crores for expansion into Middle East and USA is postponed for 3-6 months due to market conditions, not cancelled.
New manufacturing unit in Kaman is integrated, adding 65% capacity to existing production, expected to ramp to 80% utilization in 18 months.

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