Listed

CFF Fluid Control Ltd IPO

CFF Fluid Control Ltd. is an Indian defence equipment manufacturer specializing in critical systems for naval and marine applications. Founded in 2012, the company designs and manufactures high-performance valves, actuators, sonar systems, and platform management systems used in submarines and surface ships.

DRHP Final Prospectus

Min Investment

₹1,17,000

Lot Size

200 Shares

Price Range

₹585.0

Issue Size (₹ Cr.)

₹87.75

IPO Type

NSE SME

Key Metrics

Face Value

₹ 10

GMP

₹ 19.0

Subscription

8.45x

EPS

₹ 11.37

P/E Ratio

51.45 x

RoNW

16.13%

ROE

17.42%

Debt to Equity (₹ Cr.)

0.0

Timeline

IPO Opened09/07/2025Wednesday

IPO Closed11/07/2025Friday

Allotted14/07/2025Monday

Refunded15/07/2025Tuesday

Listed16/07/2025Wednesday

Strengths

Strong Defence Sector Focus The company has a solid presence in the defence manufacturing space, supplying critical systems to the Indian Navy and major shipyards.
Specialized Product Portfolio CFF designs and produces complex systems like valves, actuators, and sonar equipment, which require advanced engineering and certifications, limiting competition.
Established Client Base It serves prestigious government clients, including PSU shipbuilders and defence organizations, ensuring consistent demand and reliable payments.
In-House Manufacturing Capability The company owns a well-equipped production facility, allowing full control over quality, customization, and timely delivery of its products.
Steady Financial Growth Over recent years, CFF has demonstrated strong revenue growth and maintained healthy profitability, supported by a growing order book and controlled debt levels.

Weaknesses

Reliance on Defence Contracts A significant majority of revenue is derived from defence orders, leaving the company susceptible to budget reallocations or policy changes in government procurement.
Limited Operational Diversification The business is concentrated in naval and marine applications, with minimal presence in other industrial sectors that could offer additional income stability.
Complex Certification Requirements Manufacturing specialised defence-grade equipment demands stringent certifications and compliance, increasing both production cycle times and related costs.
Scaling Challenges Expanding production capacity involves significant investment in equipment, talent, and infrastructure, which could strain resources and delay new order fulfillment.
Customer Concentration Risk Most orders originate from a small number of PSU shipyards and naval clients. Losing a key contract or client could have a substantial impact on revenue.