🧠At a Glance
Arisinfra Solutions Ltd claims to be a tech-enabled B2B procurement disruptor in India’s dusty construction sector. It has moved 10 million+ tonnes of cement, steel, and RMC—but not its bottom line. As it gears up for its IPO, investors must ask: is this a real infra-tech play, or just a glorified thekedar with a fancy app?
🏗️ 1. What Does Arisinfra Actually Do?
- Founded: 2021 (Gen Z startup vibes)
- Sector: Construction materials + Logistics + Tech
- Clientele: Real estate developers, infra contractors, the usual cement-thirsty suspects
- Offerings:
- Aggregates, RMC, Cement, Steel, Chemicals, Walling Solutions
- Uses a vendor aggregation model across 1,458 suppliers
- Services offered across 963 pin codes, supposedly
Sounds like Infra Amazon meets JustDial, except the margins are thinner than Fevicol spread on plywood.
📦 2. Operations in Numbers
| Metric | FY22 | FY23 | FY24 |
|---|---|---|---|
| Revenue (â‚ą Cr) | 452 | 746 | 697 |
| Operating Profit (â‚ą Cr) | -1 | -1 | 13 |
| Net Profit (â‚ą Cr) | -6 | -15 | -17 |
| ROCE | – | 2% | 4% |
| ROE | – | -11% | -14% |
| Borrowings (â‚ą Cr) | 156 | 224 | 276 |
| Cash Flow from Ops (â‚ą Cr) | -269 | -14 | +3 |
| Debtor Days | 211 | 135 | 168 |
Translation?
They’re moving a lot of mud, but not minting any gold. Despite ₹697 Cr topline, the FY24 net loss was ₹17 Cr.
Also – a Cash Conversion Cycle of 142 days = “Pay cement vendors fast, beg clients for payment slower than a municipal tender pass.”
🧾 3. IPO Buzz: What We Know
The IPO is upcoming (details TBD), but sources suggest:
- Likely SME platform listing
- Use of funds may involve:
- Debt reduction (â‚ą276 Cr debt alert! đź””)
- Tech infra upgrade
- Expansion into Tier 2/3 infra markets
No DRHP yet, but we’ll guess they’ll pitch it as a “first-mover platform play” in an unorganized market. Probably name-drop Udaan, Infra.Market, or
