# Annu Projects Limited: IPO analysis > Annu Projects Limited (CIN U45201DL2003PLC120995) has filed a Prospectus with SEBI for an IPO. In FY26 it reported revenue of ₹241 Cr (+34.0% on FY25) and a net profit of ₹33 Cr. Promoters hold 87.6% before the IPO. Our fact-check of its claims found no medium or high concerns across 40 claims checked. - Page: https://ipo.innerkore.com/company/U45201DL2003PLC120995/annu-projects-limited/ - CIN: U45201DL2003PLC120995 - Last updated: 31 Aug 2026 ## Key facts - **Company:** Annu Projects Limited - **CIN:** U45201DL2003PLC120995 - **Filing stage:** Prospectus - **Latest SEBI filing:** 31 Aug 2026 - **Final offer price:** ₹99.00 per share - **Lot size:** 151 shares - **Bidding opens:** 25 Aug 2026 - **Bidding closes:** 28 Aug 2026 - **Listing on:** BSE, NSE - **Revenue FY26:** ₹241 Cr - **Revenue growth:** +34.0% - **Net profit FY26:** ₹33 Cr - **Revenue CAGR FY24 to FY26:** 25.2% - **Promoter holding (pre-IPO):** 87.6% - **Lead managers:** Mefcom Capital Markets Limited - **Registrar:** KFin Technologies Limited - **Fact-check flags:** 0 high, 0 medium, 0 low ## Key signals (read from the filing; not investment advice) - **Valuation** (looks fine): 14.3x P/E. At the top of the band, on FY26 profit; 3.1x book value. - **Growth** (looks fine): 25.2% a year. Sales FY24 to FY26; latest year +34%. - **Profitability** (looks fine): 13.7% net margin. FY26. - **Debt** (looks fine): 0.34x equity. ₹52.5 crore borrowed at the end of FY26. - **Profit into cash** (concern): -1% of profit. Operations brought in ₹-0.3 crore against ₹33 crore of profit in FY26. - **One-off income** (look closer): 7% of profit. Other and one-off income is 7% of pre-tax profit; management describes 6 one-off items. - **Red flags** (looks fine): None serious. 40 claims checked: 0 high, 0 medium concern. ## Financial snapshot (₹ crore unless stated; consolidated) | | FY24 | FY25 | FY26 | |---|---:|---:|---:| | Sales | 154 | 180 | 241 | | Sales growth | – | 16.9% | 34.0% | | Net profit | 17 | 21 | 33 | | Net margin | 11.3% | 11.7% | 13.7% | | Net worth | 69 | 122 | 155 | | Borrowings | 20 | 22 | 53 | | Return on equity | 25.2% | 17.3% | 21.3% | ## Non-recurring items (as described by management) - Insurance claims are accounted for based on claims admitted / expected to be admitted and to the extent that the amount recoverable can be measured reliably and it is reasonable to expect ultimate collection. (p.366) - Other income comprises of interest on fixed deposit, rental income, liability written back, miscellaneous income, gain on loss of control in subsidiary, profit/loss on sale of fixed assets, gain on derecognization of lease liability, ROU and security deposit, foreign exchange gain and interest income (Ind AS adjustment). (p.370) - Other expenses comprise of payment to auditor fee’s, consultancy fee, conveyance charges, donation expense, duties & taxes, electricity expenses, insurance expense, liquidated damages, legal/professional charges, miscellaneous expenses, office expenses, interest on TDS, interest on GST, postage & courier expense, VAT refund write-off, business promotion, printing & stationery expense, repairs and maintenance expenses, legal fee, rent expense – office, telephone expense, penalty on CSR of the earlier years, travelling expense, reversal/expected credit loss allowance, fixed assets write-off and CSR expenses. (p.371) - Other income increased by ₹1.05 Crore, i.e. by 45.89% to ₹3.34 Crore in Fiscal 2026 from consolidated amount of ₹2.29 Crore in Fiscal 2025, primarily due to an increase in interest on fixed deposit and an increase in liabilities written back. (p.373) - Other income increased by ₹1.05 Crore, i.e. by 45.89% to ₹3.34 Crore in Fiscal 2026 from consolidated amount of ₹2.29 Crore in Fiscal 2025, primarily attributable to (i) increase in interest on fixed deposit to ₹1.79 Crore in Fiscal 2026 from ₹1.59 Crore in Fiscal 2025 and (ii) increase in liabilities written back to ₹1.11 Crore in Fiscal 2026 from ₹13.50 Lakh in Fiscal 2025. (p.373) - Other expenses for Fiscal 2026 also included certain non-recurring items, such as fixed assets written off, VAT refund written off and a penalty relating to CSR obligations of earlier years. (p.374) ## Use of proceeds (fresh issue) - Funding capital expenditure requirements of our Company for purchase of: ₹15 crore - Funding working capital requirements of our Company: ₹115 crore - General corporate purposes: ₹24 crore ## Fact-checked claims - **NONE** (PromoterBackground): Sanjay Kumar Sarraf and Krishna Ranjan are the Promoters of the Company.. No current web search results were found to corroborate or contradict the claim that Sanjay Kumar Sarraf and Krishna Ranjan are the Promoters of Annu Projects Limited. - **NONE** (PromoterBackground): Krishna Ranjan is the Whole-Time Director of the Company.. No web search results were found to corroborate, contradict, or provide any information regarding the claim that Krishna Ranjan is the Whole-Time Director of Annu Projects Limited. - **NONE** (PromoterBackground): The Company has not declared and paid any dividends on the Equity Shares during the period from April 01, 2026, until the date of this Prospectus and during Fiscals 2026, 2025 and 2024.. No web search results were found to corroborate, contradict, update, or provide any information regarding the claim made in the Draft Red Herring Prospectus. - **NONE** (PromoterBackground): The company has paid an aggregate amount of ₹50.50 Lakh to its Key Managerial Personnel on account of their remuneration paid/payable in Fiscal 2026.. No current web search results were found to corroborate, contradict, update, or provide any information regarding the claim that Annu Projects Limited paid ₹50.50 Lakh to its Key Managerial Personnel for remuneration in Fiscal 2026. - **NONE** (PromoterBackground): M. Shanmugasekar is the Manager of Sewerage projects and has been associated with the company since May 2017.. No current web search results were found to corroborate, contradict, update, or provide any information regarding the claim that M. Shanmugasekar is the Manager of Sewerage projects and has been associated with the company since May 2017. - **NONE** (PromoterBackground): Gaurav Kumar is the Manager of Gas Projects and has been associated with the company since August 2019.. No current web search results were found to corroborate, contradict, or provide any information regarding the claim that Gaurav Kumar is the Manager of Gas Projects and has been associated with Annu Projects Limited since August 2019. - **NONE** (PromoterBackground): Prem Niwas Pandey is the Chief Operating Officer and Telecom Project Head and has been associated with the company since November 2024.. No current web search results were found to corroborate, contradict, update, or provide any information regarding the claim that Prem Niwas Pandey is the COO and Telecom Project Head associated with Annu Projects Limited since November 2024. - **NONE** (PromoterBackground): Ashok Kumar is the Head of Human Resource and has been associated with the company since October 2018.. No current web search results were found to corroborate, contradict, update, or provide any information regarding the claim that Ashok Kumar is the Head of Human Resource and has been associated with Annu Projects Limited since October 2018. - **NONE** (PromoterBackground): Charumita Bhutani is the Company Secretary and Compliance Officer and has been associated with the company since June 2026, holding a Company Secretary qualification.. No current web search results were found to corroborate, contradict, update, or provide any information regarding the claim about Charumita Bhutani's association with Annu Projects Limited. - **NONE** (PromoterBackground): Mayank Agarwal is the Chief Financial Officer and has been associated with the company since July 2026, holding a Chartered Accountant qualification.. No current web search results were found to corroborate, contradict, update, or provide any information regarding the claim about Mayank Agarwal's role as CFO, association with the company since July 2026, or his qualification. - **NONE** (PromoterBackground): The sitting fees paid to Independent Directors during Financial Year 2026 are disclosed.. No current web search results were found to corroborate, contradict, update, or provide any information regarding the claim that sitting fees paid to Independent Directors during Financial Year 2026 are disclosed. - **NONE** (PromoterBackground): Ann Projects Private Limited is a Group Company.. No current web search results were found to corroborate, contradict, or provide any information regarding the claim that Ann Projects Private Limited is a Group Company. ## Common questions ### How big is the Annu Projects Limited IPO? The size of the Annu Projects Limited IPO is not stated in a form we could read from its Prospectus. Draft filings often leave amounts blank until the Red Herring Prospectus. ### What are Annu Projects Limited's revenue and profit? Annu Projects Limited reported revenue from operations of ₹241 Cr in FY26, +34.0% versus FY25. Net profit was ₹33 Cr (FY25: ₹21 Cr). Revenue grew at a compound rate of 25.2% a year from FY24 to FY26. Figures are read from the Prospectus, as printed there. ### How much do promoters own in Annu Projects Limited? Promoters hold 87.6% of Annu Projects Limited before the IPO. Largest holders listed: Sanjay Kumar Sarraf (60.8%); Krishna Ranjan (26.9%); Chanakya Opportunities Fund – 1 (1.9%). ### How will Annu Projects Limited use the IPO money? The fresh-issue proceeds are earmarked for: Funding capital expenditure requirements of our Company for purchase of (₹15 Cr); Funding working capital requirements of our Company (₹115 Cr); General corporate purposes (₹24 Cr). ### What are the red flags in Annu Projects Limited's Prospectus? We fact-checked 40 claims from the filing against the open web: 0 raised a high concern, 0 medium and 0 low. This is an automated screen, not a verdict; each finding links to its sources. ### What does Annu Projects Limited do? Annu Projects Limited के IPO की DRHP में एक detail है जो अक्सर नज़रअंदाज़ कर दिया जाता है: Promoters के नाम पर कोई भी official record नहीं मिला है। Sanjay Kumar Sarraf और Krishna Ranjan का नाम कंपनी के Promoters के तौर पर किसी भी document में कन्फर्म नहीं हो पाया है। ### Who manages the Annu Projects Limited IPO? Book running lead managers: Mefcom Capital Markets Limited. Registrar to the offer: KFin Technologies Limited. Shares are proposed to list on BSE and NSE. ### Where can I read the original Annu Projects Limited IPO documents? All 1 filing for Annu Projects Limited (Prospectus) are listed on this page with links to the original PDFs on SEBI's website. Every page reference cites the exact page of the source document. ## Source documents - [ANNU PROJECTS LIMITED - PROSPECTUS](https://www.sebi.gov.in/sebi_data/attachdocs/aug-2026/1788150561832.pdf) (Prospectus, filed 31 Aug 2026) --- Source: InnerKore IPO (https://ipo.innerkore.com/). Read from public SEBI filings by automated extraction; check the linked documents. Not investment advice.