In Bollywood terms, Neetu Yoshi’s five-year journey is less DDLJ romance, more Gully Boy hustle. Started in 2020 trading railway scrap, they’re now talking ₹250 crore revenue targets, bogie manufacturing, and eventually, wagon assembly. FY25 closed with ₹70 crore revenue, a fat 22% PAT margin, and an IPO war chest of ₹77.04 crore. FY26 is all about scaling – more products, more approvals, and a new track-products shed. By FY27, the Kanpur bogie plant should be rolling out 500 bogies a month; add a spring plant, and you’ve got a company trying to cover wagons, coaches, and track in one playbook.
Why it matters? Because in an industry dominated by decades-old players, a five-year-old company claiming “no execution challenges” is either on the verge of greatness… or a reality check.
Stick around—things get spicier two scrolls down.
AT A GLANCE
• Order book ₹115+ crore – ₹10–12 crore fresh orders monthly
• FY26 revenue target ₹120 crore – 25% PAT margin promised
• ₹50 crore bogie plant (from IPO funds) – ₹200 crore potential by FY27
• ₹12–15 crore spring plant (internal accruals) – ₹35 crore revenue from FY27
• 27 RDSO-approved products – 36 more in approval pipeline
MANAGEMENT’S KEY COMMENTARY
Himanshu Lohia, MD & CFO: “We started with railway scrap, now moving into bogies,
One Response
I have invested in it. Should hold it long term or book profit