SFC Environmental Technologies IPO
Last GMP before listing: ₹15 to ₹19. GMP is unofficial and may differ from the actual listing result.
Updated 05 Nov 2026. Information only, not a recommendation.
About SFC Environmental Technologies
SFC Environmental Technologies, incorporated in 2005 and based in Navi Mumbai, provides technology and engineering solutions for wastewater treatment, water recycling and reuse, and solid waste treatment. It designs, supplies and commissions treatment equipment built around proprietary systems such as C-Tech for sewage and OREX for municipal solid waste. Government bodies are its dominant customers, and it also has compressed biogas projects through subsidiaries.
| Headquarters | Navi Mumbai, Maharashtra |
| Founded | 2005 |
| Key person | Sandeep Sudhakar Asolkar, Chairman and Managing Director |
| Website | https://www.sfcenvironment.com |
SFC Environmental Technologies financials
All figures in ₹ Cr. Revenue from operations; restated figures from the RHP as reported by Groww, Bajaj Broking and INDmoney (FY24 revenue shown as 657.49 on Groww, 657.50 elsewhere). Total income is higher at 676.74 / 726.96 / 821.27. Assets from IPO Watch, Bajaj Broking and INDmoney. FY ends 31 March. Not checked against the RHP PDF directly.
| Year | Revenue | Profit after tax | Total assets |
|---|---|---|---|
| FY24 | 657.50 | 144.17 | 904.94 |
| FY25 | 697.86 | 152.01 | 999.47 |
| FY26 | 803.63 | 160.21 | 1,323.43 |
Key performance indicators
FY26 basis. ROE, ROCE and EBITDA margin match across IPO Watch and INDmoney; PAT margin 19.94% = 160.21 / 803.63. Debt to equity, EPS, NAV and P/E left out because sources disagree.
| Indicator | Value |
|---|---|
| ROE % | 21.55 |
| ROCE % | 22.21 |
| EBITDA margin % | 29.34 |
| PAT margin % | 19.94 |
Objects of the SFC Environmental Technologies IPO
| Purpose | Estimated amount |
|---|---|
| Prepayment of certain borrowings of the company and its subsidiary Vasudha Waste Treatment Private Limited | ₹42.23 Cr |
| Funding working capital requirements of the company | ₹74.92 Cr |
| General corporate purposes | To be decided |
Strengths and risks
Points drawn from the offer document and news reports. They are facts to read, not advice.
Strengths
- Revenue from operations grew from about ₹657.5 Cr in FY24 to ₹803.63 Cr in FY26, with PAT rising from ₹144.17 Cr to ₹160.21 Cr.
- EBITDA margin has stayed near 29% across FY24 to FY26.
- Order book reported at well over ₹1,500 Cr after a sharp rise during FY26, driven by compressed biogas and water recycling orders (exact figure varies by source and cut-off date).
- Owns proprietary technologies (C-Tech for sewage treatment, OREX for municipal solid waste) and operates solid waste facilities in Goa.
- Through a wholly owned subsidiary it has orders for compressed biogas plants from a public sector oil marketing company.
Risks
- Heavy dependence on government-linked customers: about 92% of wastewater treatment segment revenue in FY26 came from government entities.
- Cash flow is stretched: receivable days are high and the company has reported negative operating cash flows in some past periods.
- Borrowings rose from about ₹84 Cr in FY25 to about ₹196 Cr in FY26.
- Growth in profit has been modest (about 5% in FY26 against about 15% revenue growth), and profit for the June 2026 quarter was only ₹1.48 Cr on ₹137.90 Cr of income.
- The offer is mostly a sale of existing shares (about ₹517.5 Cr of ₹667.5 Cr), so only about ₹150 Cr goes to the company.
Lead managers and registrar
| Lead manager(s) | IIFL Capital Services Limited, JM Financial Limited, Nuvama Wealth Management Limited |
| Registrar | MUFG Intime India Private Limited |
| Face value | ₹2 per share |
SFC Environmental Technologies IPO: frequently asked questions
What is the issue size of the SFC Environmental Technologies IPO?
The SFC Environmental Technologies IPO is a fresh ₹150 cr + ofs ₹517.53 cr of ₹667.53 Cr.
What are the open and close dates of the SFC Environmental Technologies IPO?
Bidding opens on 27 Oct 2026 and closes on 29 Oct 2026.
What is the price band of the SFC Environmental Technologies IPO?
The price band is ₹313 – ₹330 per share.
What is the lot size and minimum investment in the SFC Environmental Technologies IPO?
One lot is 45 shares. The minimum investment at the upper price band is ₹14,850 (1 lot).
When is the SFC Environmental Technologies IPO allotment date?
Allotment is expected on 30 Oct 2026. You can check it on the registrar’s website (MUFG Intime India Pvt. Ltd.) or through your broker.
Where will the SFC Environmental Technologies IPO list?
The shares are proposed to list on NSE, BSE, with a listing date of 03 Nov 2026.
What is the GMP of the SFC Environmental Technologies IPO?
GMP is an unofficial grey market quote that changes every day. See the latest value, with the date, in the GMP section at the top of this page. It does not guarantee the listing price.
Sources: groww.in, ipowatch.in, www.bajajbroking.in, www.indmoney.com, www.businesstoday.in, www.sfcenvironment.com.
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