⚡ At a Glance
Samay Project Services, born in 2001, is a low-profile but high-precision EPC firm working on piping, tanks, and industrial fire systems across steel plants, ports, distilleries, and more. With a 2x order book, 29.8% ROCE, and a modest ₹52 Cr valuation, it’s small — but definitely not superficial.
1. 🏗️ What Does SamayActuallyBuild?
Samay isn’t a civil contractor laying highways or highrises.
They’rebalance-of-plant (BOP)engineers — the unsung heroes behind complexindustrial infrastructurelike:
- High-pressure steam pipelines
- Cross-country hydrocarbon lines
- Giant fluid tanks
- Steel structures
- 🔥 And industrial fire suppression systems that could humble an airport hangar
They work across sectors likePower, Steel, Sugar, Mining, Infra, Pharma— but are rarely the face of the project.
Think of them as backstage engineers with a welding torch, not a mic.
2. 🔩 The Service Portfolio – Engineering with Fire
Here’s what’s on the Samay service menu:
🔧 a) Piping Systems
- Steam pipes (up to 200 bar & 600°C)
- Hydrocarbon pipelines
- Water lines (UG/overground)
- Fire & foam water lines
🛢️ b) Tanks & Structures
- Firewater tanks
- DM water & slurry storage
- Rubber, epoxy & flake coatings
- Fabricated vessels
🔥 c) Fire Protection Systems
- Flame & gas detection systems
- Sprinklers, foam deluge systems
- Entire turnkey fire projects for:
- Ports, Steel Plants, Hospitals, Cement Factories
They’re niche — but that niche is industrial-grade hot.
3. 🌍 Geographic & Sector Reach
🧠Footprint:
| Geography | Revenue Share |
|---|---|
| 🇮🇳 India | 97.2% (FY24) |
| 🌍 Exports | 2.8% (FY24) |
🛫 FromMauritius to Mauritania, Samay has completed EPC contracts abroad — though recent focus is squarely domestic.
🏠Sector-Wise Revenue (H1FY25):
| Industry | % Share |
|---|---|
| Power | 40.4% |
| Iron & Steel | 26.6% |
| Sugar & Distillery | 13.3% |
| Mining | 12.0% |
| Infra + Others | 7.7% |
No IT, no BPO, no retail.
Just
1 thought on “🧯 Samay Project Services IPO: Firefighting Systems, Piping Profits, and One Very Literal Balance of Plant”
order book as per RHP is 58 cr. Please assume this with GST. So net order book is of Rs49 cr. still good