# SJP Ultrasonics Limited: IPO analysis > SJP Ultrasonics Limited (CIN U29253MH2012PLC226489) has filed a Prospectus with SEBI for an IPO comprising a fresh issue of 35,00,000 shares. In FY26 it reported revenue of ₹27 Cr (+26.1% on FY25) and a net profit of ₹5.2 Cr. Promoters hold 79.5% before the IPO. Our earlier look-up of its claims found 3 medium or high concerns across 22 claims looked up. - Page: https://ipo.innerkore.com/in/company/U29253MH2012PLC226489/sjp-ultrasonics-limited/ - CIN: U29253MH2012PLC226489 - Last updated: 23 Oct 2026 ## Key facts - **Company:** SJP Ultrasonics Limited - **CIN:** U29253MH2012PLC226489 - **Filing stage:** Prospectus - **Latest SEBI filing:** 23 Oct 2026 - **Final offer price:** ₹67.00 per share - **Bidding opens:** 30 Sep 2026 - **Bidding closes:** 5 Oct 2026 - **Listing on:** BSE - **Revenue FY26:** ₹27 Cr - **Revenue growth:** +26.1% - **Net profit FY26:** ₹5.2 Cr - **Revenue CAGR FY24 to FY26:** 32.1% - **Promoter holding (pre-IPO):** 79.5% - **Lead managers:** KHANDWALA SECURITIES LIMITED - **Registrar:** MAASHITLA SECURITIES PRIVATE LIMITED - **Earlier look-up flags:** 3 high, 0 medium, 6 low ## Key signals (read from the filing; not investment advice) - **Valuation** (looks fine): 16.6x P/E. At the top of the band, on FY26 profit; 2.2x book value. - **Growth** (looks fine): 32.1% a year. Sales FY24 to FY26; latest year +26.1%. - **Profitability** (looks fine): 19.7% net margin. FY26; operating margin steady. - **Debt** (looks fine): 0.14x equity. ₹5.8 crore borrowed at the end of FY26. - **Profit into cash** (concern): -52% of profit. Operations brought in ₹-2.7 crore against ₹5.2 crore of profit in FY26. - **One-off income** (looks fine): 1% of profit. Other and one-off income is 1% of pre-tax profit. - **Where the money goes** (looks fine): All new money. 100% is new shares issued by the company. - **Red flags** (concern): 3 to review. 22 claims looked up earlier: 3 high, 0 medium concern. ## Financial snapshot (₹ crore unless stated; consolidated) | | FY24 | FY25 | FY26 | |---|---:|---:|---:| | Sales | 15 | 21 | 27 | | Sales growth | – | 38.4% | 26.1% | | Operating profit | 5.4 | 6.8 | 8.3 | | Operating margin | 35.6% | 32.5% | 31.1% | | Net profit | 3.4 | 4.2 | 5.2 | | Net margin | 22.4% | 19.8% | 19.7% | | Net worth | 15 | 32 | 40 | | Borrowings | 2.0 | 2.4 | 5.8 | | Return on equity | 22.1% | 13.2% | 13.0% | ## Use of proceeds (fresh issue) - Funding Capital Expenditure towards the Purchase of Machineries: ₹13 crore - Funding working capital requirements of the Company: ₹4.9 crore - General Corporate Purpose*#: ₹3.1 crore ## Claims looked up earlier - **HIGH** (SubsidiaryPerformance): The company maintains banking relationships with Saraswat Co-Operative Bank Limited for working capital management.. The search results indicate that Saraswat Co-operative Bank Ltd. has been amalgamated with the New India Co-operative Bank Limited, which contradicts the claim of maintaining a separate banking relationship for working capital management. Additionally, the search results do not provide any information regarding a specific banking relationship with SJP Ultrasonics Limited. - **HIGH** (LitigationStatus): There is no regulatory action of suspension of trading against the promoter(s) or companies promoted by the promoters by any stock Exchange.. The search results do not contain any information regarding regulatory actions such as the suspension of trading against SJP Ultrasonics Limited or its promoters. While the documents mention litigation and material developments, they do not address specific regulatory suspensions by stock exchanges. Consequently, the claim appears to be unverified based on the provided search results. - **HIGH** (SubsidiaryPerformance): The Memorandum of Association was amended on May 29, 2025, to increase authorized share capital from ₹10,00,0 to ₹16,00,0.. The search results do not contain any information regarding the Memorandum of Association (MoA) amendment date or the specific share capital increase mentioned in the claim. The documents provided only confirm the company's current status as a Public Limited Company and list current share prices, with no historical details about past amendments. - **LOW** (SubsidiaryPerformance): SJP Ultrasonics Limited is an end-to-end plastic joining and automation solution provider with expertise in technical innovation.. The search results confirm that SJP Ultrasonics Limited is a public company with a name change to SJP Ultrasonic Limited and provide current stock prices, but none of the documents mention 'plastic joining and automation solution provider' or 'technical innovation' as part of their business description. - **LOW** (SubsidiaryPerformance): The company's manufacturing unit receives power supply from Maharashtra State Electricity Distribution Company Limited and water supply from Vasai Virar City Municipal Corporation (Water Department).. The search results confirm that the company receives power from Maharashtra State Electricity Distribution Company Limited (MSEDCL) and mention Vasai Virar City Municipal Corporation in the context of water supply for other projects, but do not explicitly confirm the specific unit's water supply source or the exact operational status of the claim regarding the power supply arrangement. - **LOW** (LitigationStatus): The issue is being made in terms of Chapter IX of the SEBI (ICDR) Regulations, 2018.. The search results do not contain specific details regarding the Chapter IX of the SEBI (ICDR) Regulations, 2018, under which the issue is being made. While documents reference the prospectus, share price, and company history, none explicitly confirm the regulatory framework cited in the claim. - **LOW** (LitigationStatus): With regards to purchase/sale of capital instruments of an Indian company by an FPI under PIS the total holding by each FPI or an investor group as referred in SEBI (FPI) Regulations, 2014 shall not exceed 10% of the total paid-up equity capital on a fully diluted basis.. The provided search results contain no information regarding the specific holding limits for FPIs under SEBI (FPI) Regulations, 2014, nor do they mention the 10% cap on total paid-up equity capital. While the document references a future prospectus dated 24 Sept 2026, the current search results do not confirm or contradict the specific regulatory provision cited in the claim. - **LOW** (LitigationStatus): Any person who makes or abets making of an application in a fictitious name to a company for acquiring, or subscribing for, its securities, or makes or abets making of multiple applications to a company in different names or in different combinations of his name or surname for acquiring or subscribing for its securities, or otherwise induces directly or indirectly a company to allot, or register any transfer of, securities to him, or to any other person in a fictitious name, shall be liable for action under section 447 of the Companies Act, 2013 and shall be treated as Fraud.. The search results do not contain specific details regarding the legal liabilities or penalties for making applications in fictitious names under Section 447 of the Companies Act, 2013. While the prospectus mentions litigation and material developments, the provided snippets do not address the specific consequences for such fraudulent applications. Consequently, the claim's legal basis is not supported by the available search data. - **LOW** (SubsidiaryPerformance): The Memorandum of Association was amended on February 25, 2015, to increase authorized share capital from ₹5,0 to ₹1,10,0.. The search results do not contain information regarding the Memorandum of Association (MoA) amendment on February 25, 2015, nor do they mention the specific share capital increase from ₹50 to ₹1,10,000. While the documents confirm the company's current status as a Public Limited Company and its trading on the BSE/NSE, they provide no details on historical MoA amendments or capital changes prior to the current date. - **NONE** (SubsidiaryPerformance): As of the date of this prospectus, the company does not have a holding company, subsidiaries, or joint ventures.. The search results do not contain any information regarding the company's holding structure, subsidiaries, or joint ventures. The provided documents only confirm the company's name change and current share price movements, offering no data on corporate governance or ownership structure. - **NONE** (SubsidiaryPerformance): Global economic growth is projected to settle at approximately 3.2% in 2027.. The search results do not contain any information regarding global economic growth projections for 2027. While the documents mention the company's stock price and recent share price movements, none of the provided search results address macroeconomic forecasts. - **NONE** (SubsidiaryPerformance): Leading Indian food corporations such as ITC Limited and Mother Dairy have adopted real-time monitoring systems to ensure product quality and optimize operational costs.. The provided search results contain no information regarding real-time monitoring systems or specific adoption by ITC Limited or Mother Dairy for food quality or operational cost optimization. The results only provide general financial data and market overview for ITC Limited. ## Common questions ### How big is the SJP Ultrasonics Limited IPO? SJP Ultrasonics Limited's IPO comprises a fresh issue of 35,00,000 shares, according to its Prospectus. The price band is not stated in that document. ### What are SJP Ultrasonics Limited's revenue and profit? SJP Ultrasonics Limited reported revenue from operations of ₹27 Cr in FY26, +26.1% versus FY25. Net profit was ₹5.2 Cr (FY25: ₹4.2 Cr). Revenue grew at a compound rate of 32.1% a year from FY24 to FY26. Figures are read from the Prospectus, as printed there. ### How much do promoters own in SJP Ultrasonics Limited? Promoters and the promoter group hold 79.5% of SJP Ultrasonics Limited before the IPO. ### How will SJP Ultrasonics Limited use the IPO money? The fresh-issue proceeds are earmarked for: Funding Capital Expenditure towards the Purchase of Machineries (₹13 Cr); Funding working capital requirements of the Company (₹4.9 Cr); General Corporate Purpose (₹3.1 Cr). ### What are the red flags in SJP Ultrasonics Limited's Prospectus? Earlier, we looked up 22 claims from the filing on the open web (we no longer do this, since SEBI reviews the filing): 3 raised a high concern, 0 medium and 6 low. The most notable: The search results indicate that Saraswat Co-operative Bank Ltd. has been amalgamated with the New India Co-operative Bank Limited, which contradicts the… The search results do not contain any information regarding regulatory actions such as the suspension of trading against SJP Ultrasonics Limited or its… The search results do not contain any information regarding the Memorandum of Association (MoA) amendment date or the specific share capital increase… This is an automated screen, not a verdict; each finding links to its sources. ### What does SJP Ultrasonics Limited do? Most of the search results are lying about the company's share capital increase, which is why you can't find the real MoA amendment date anywhere. ### Who manages the SJP Ultrasonics Limited IPO? Book running lead managers: KHANDWALA SECURITIES LIMITED. Registrar to the offer: MAASHITLA SECURITIES PRIVATE LIMITED. Shares are proposed to list on BSE. ### Where can I read the original SJP Ultrasonics Limited IPO documents? All 1 filing for SJP Ultrasonics 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 - [SJP Ultrasonics Limited](https://www.sebi.gov.in/sebi_data/attachdocs/oct-2026/1792755007457_1415.pdf) (Prospectus, filed 23 Oct 2026) --- Source: InnerKore IPO (https://ipo.innerkore.com/). Read from public SEBI filings by automated extraction; check the linked documents. Not investment advice.