- POSITIVE
Annual Revenue LCC Projects Mar-2025 Annual Revenue is Rs 2,888 Cr which is growth of 19.4% YoY.
- POSITIVE
Annual Net Profit LCC Projects Mar-2025 Annual Net Profit is Rs 220 Cr which is growth of 84.4% YoY.
LCC Projects was incorporated on December 28, 2017. The company is a leading EPC firm in India, specializing in irrigation and water supply projects. With two decades of experience, it executes dams, canals, lift irrigation, and water supply schemes across 11 states
| Bidding Dates |
|---|
| 09 Sep 2026 - 11 Sep 2026 |
| Subscription |
|---|
| 48.51x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹14,178 | 1 | 13 | 102 | 29.3 M | ₹139 - ₹146 | 89.9 % | ₹4,066.6 M - ₹4,271.4 M | RHP DOC |
Lcc Projects IPO SUBSCRIPTION STATUS
11 Sep '26Total48.51x
Retail Individual Investor25.56x
HNI (NII) Investors62.99x
Qualified Institutional Buyers78.69x
Lcc Projects IPO overall subscription rate was 48.51 times the total available shares
Lcc Projects IPO retail subscription rate was 25.56 times in the retail segment
Lcc Projects IPO non-institutional investor subscription rate was 62.99 times in the non-institutional investor category
Lcc Projects IPO Qualified Institutional Bidder subscription rate was 78.69 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
11 Sep 2026 (Day 3) | 25.56x | 62.99x | 78.69x |
10 Sep 2026 (Day 2) | 4.69x | 5.33x | 1.16x |
09 Sep 2026 (Day 1) | 1.26x | 1.72x | 1.14x |
Lcc Projects FINANCIALS
| Period | Revenue from Operations (Rs in crore) | Net Profit (Rs in crore) | Cash Flow from Operations (Rs in crore) | Free Cash Flow (Rs in crore) | Margins |
| FY26 | 3,600.3 | 286.4 | 158.4 | 120.3 | 14.4% |
| FY25 | 2,918.3 | 223.6 | 23.6 | -51.3 | 13.7% |
| FY24 | 2,438.9 | 122.0 | 29.4 | -38.3 | 9.9% |
Lcc Projects IPO SUBSCRIPTION STATUS DETAILS
Lcc Projects had 29.3 M shares on offer
Lcc Projects IPO offer price was in the range ₹139 - ₹146
Lcc Projects IPO minimum Investment was ₹14178
Lcc Projects IPO issue size was ₹ 4,066.6 M - ₹ 4,271.4 M
Lcc Projects had a minimum lot size of 102 Shares per application
Lcc Projects NUMBER OF SHARES ON OFFER
Total29.3 M
Fresh Issue17.7 M
Offer for Sale11.6 M
Post Issue Promoter Holding %89.9 %
Lcc Projects IPO IMPORTANT DATES
| Issue Open Date | 09 Sep 2026 |
| Issue close Date | 11 Sep 2026 |
| Allotment Date | 15 Sep 2026 |
| Refund Date | 16 Sep 2026 |
| Demat Account Credit Date | 16 Sep 2026 |
| Listing Date | 17 Sep 2026 |
| Listing on Exchange(s) | NSE and BSE |
| Lcc Projects Allotment Status | Exchange/ Registrar |
Lcc Projects IPO subscription opened on 09 Sep 2026, and closed on 11 Sep 2026
IPO allotment for Lcc Projects was finalized on Tuesday, 15 Sep 2026
IPO listing for Lcc Projects was on NSE and BSE on Thursday, 17 Sep 2026
Lcc Projects IPO LISTING GAINS
| Issue Price (adjusted) | 146.0 |
| Listing Open Price | 189.0 |
| Listing Close Price | 170.1 |
| Listing Gain% | 29.4% |
| Current Gain% | 2.1% |
Lcc Projects Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| LCC Projects Ltd. | 149.1 | 4320.2 | 15.2 | 0.6 | 1.2 | 31.9 | 11.6 | 3639.5 | 23.7 | 283.4 | 27.4 | 9.8 | 27.4 |
| GAIL (India) Ltd. | 172.7 | 113552 | 11.5 | -0.8 | 0.8 | 8.5 | 5.4 | 143107.9 | 0 | 7582.5 | -39.1 | 15 | -15.1 |
| Adani Total Gas Ltd. | 611.6 | 67269.9 | 106.4 | -44.2 | 10.7 | 13.5 | 6.9 | 5932.3 | 17.9 | 655.7 | 0.2 | 5.7 | -2.4 |
| Gujarat Energy Ltd. | 236 | 22144.1 | 11.7 | 0.2 | 1 | 9.1 | 6.1 | 24161.9 | 44.7 | 1677.6 | 46.1 | 20.2 | 65.7 |
| Indraprastha Gas Ltd. | 145 | 20293 | 14.9 | -0.8 | 1.2 | 13.5 | 9.1 | 16541.2 | 8.4 | 1549.6 | -9.8 | 9.7 | -18.3 |
| Va Tech Wabag Ltd. | 2008.4 | 12550.8 | 31.8 | 1.1 | 3.1 | 14.4 | 6 | 4038.5 | 21 | 370.5 | 25.5 | 63.2 | 29 |
Annual
Balance Sheet
Ratios
Cash Flow
Lcc Projects annual results: revenue, profit, P&L, and margins as of Mar 2025 – 11 year history
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| Indicator | Graph | Mar '25 | Mar '24 | Mar '23 |
|---|---|---|---|---|
| 2,887.5 | 2,417.9 | 1,237.2 | ||
Operating Exp. Ann. | 2,492.7 | 2,145.4 | 1,110.3 | |
Operating Profit Ann. | 369.5 | 257.2 | 116.3 | |
OPM Ann. % | 12.80% | 10.64% | 9.40% | |
| 2,598.9 | 2,213 | 1,145.3 | ||
EBITDA Ann. | 394.9 | 272.4 | 126.9 | |
EBITDA Ann. margin % | 13.67% | 11.27% | 10.26% | |
Interest Ann. | 79.8 | 49.2 | 28 | |
Depr. | 26.4 | 18.4 | 7 | |
PBT Ann. | 288.7 | 169.4 | 91.9 | |
Tax Ann. | 69 | 50.2 | 23.6 | |
| 219.7 | 119.2 | 68.3 | ||
Net Profit Ann. | 219.7 | 119.2 | 68.3 | |
NPM Ann. % | 7.67% | 4.95% | 5.56% | |
EPS Adj. latest Ann. | 7.6 | 4.1 | 2.4 |
*All financials are in INR Cr and price data in INR
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Total Rev. Ann.
1Y CHG
19.4%
2Y CAGR
52.8%
Net Profit Ann.
1Y CHG
84.3%
2Y CAGR
79.4%
Operating Exp. Ann.
1Y CHG
16.2%
2Y CAGR
49.8%
Lcc Projects IPO Reports
Lcc Projects INFORMATION ON IPO ISSUE
About Lcc Projects
LCC Projects was incorporated on December 28, 2017. The company is a leading EPC firm in India, specializing in irrigation and water supply projects. With two decades of experience, it executes dams, canals, lift irrigation, and water supply schemes across 11 states
Object of the Issue
- Purchase of equipment
- Prepayment and/or repayment, in full or in part, of all or a portion of certain outstanding borrowings availed by the company
- General corporate purposes
Lcc Projects - PROMOTERS
| Name |
|---|
| Arjan Suja Rabari |
| Laljibhai Arjanbhai Ahir |
| Maya Arjan Rabari |
Lcc Projects - MANAGEMENT & LEADERSHIP
| Name | Designation |
|---|---|
| Arjan Suja Rabari | Chairman & Managing Director |
| Laljibhai Arjanbhai Ahir | Managing Director |
| Maya Arjan Rabari | Non-Executive Director |
| Rajnikant Chimanlal Diwan | Independent Director |
| Vijayalakshmi Suvarna | Independent Director |
| Mirtunjay Singh | Independent Director |
Lcc Projects Book Running Lead Manager
Motilal Oswal Investment Advisors Limited
lccprojects.ipo@motilaloswal.com
Lcc Projects Registrar to the Offer
KFin Technologies Limited
lccpl.ipo@kfintech.com
Lcc Projects Strengths
Diversified project portfolio
The company's order book is diversified, with irrigation and water supply projects forming the largest share. Careful selection of projects ensures efficient management of equipment, materials, and manpower in a capital-intensive industry
Strength
In-house designing capabilities
The company has in-house teams managing projects from inception to maintenance, ensuring timely completion, cost efficiency, and reduced reliance on third parties. This integrated approach helps control budgets and maximize returns
Strength
Risk management
The company has a risk management system to identify and monitor infrastructure sector risks. Its project selection focuses on steady cash flow through periodic payments to maintain financial stability
Strength
Lcc Projects Risks
Competition
The company's growth relies on successfully bidding for and acquiring irrigation and water supply projects. Failure to secure new projects may negatively impact business expansion
Risk
Cost over-run risks
Actual project costs may differ from bid estimates, potentially leading to unrecovered expenses, impacting financial condition, operations, and cash flow
Risk
Project delay risks
Project delays may result in contract termination, cost overruns, or damage claims, negatively affecting cash flow, operations, and financial condition
Risk
IPO FAQs
This IPO consists of an offer for sale of up to Rs 169.1 crore, of 11,585,000 shares. It also consists of a fresh issue of Rs 258.0 crore.
The promoters of the company are Arjan Suja Rabari, Laljibhai Arjanbhai Ahir and Maya Arjan Rabari.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 139.0 - 146.0.
The IPO application opens on Sep 09, 2026 and closes on Sep 11, 2026.
The minimum lot size for the IPO is 102. The maximum lot size for the IPO is 1326.
For all category investors, the minimum application amount for this IPO is Rs. 14,178.0, the maximum value for this IPO is Rs 193,596.0.
This IPO will be allotted on Sep 15, 2026.
The refund will be credited to your account on Sep 16, 2026.
The allotted shares will be credited to your demat on Sep 16, 2026.
LCC Projects Ltd.’s shares listed on the stock exchanges on Sep 17, 2026.