1. At a Glance
Exhicon Events Media Solutions (EEMSL) isn’t your average “tentwallah” renting shamiyanas for shaadis. This SME-listed upstart has pulled off a 96% YoY sales growth and nearly 200% profit jump, proving that exhibitions and trade fairs can be more profitable than selling samosas at them. With marquee clients from Government ministries to Godrej and HSBC, a debt-free balance sheet, and a 34% ROCE, this is less “DJ wale babu” and more “Harvard Business School case study.”
2. Introduction
What do you get when you mix Bollywood event drama with German aluminium hangars? Answer: Exhicon — India’s all-in-one exhibition ecosystem company.
Since 2010, they’ve been hustling in the B2B trade show, exhibition infra, and event management game. Unlike wedding planners, these folks aren’t chasing baraatis. They’re building large-span steel structures, managing state government trade fairs, and running integrated media for expos.
IPO’d in April 2023 on the BSE SME platform, they raised ₹21 Cr, then followed up with a flurry of acquisitions (NICE Solutions) and imported ₹7.26 lakh worth of German-designed hangars — because what’s an Indian event without foreign maal?
And the numbers? FY25 sales at ₹144 Cr with net profit at ₹26 Cr. Debt = zero. ROE = 26.6%. Basically, they’re throwing parties and collecting all the cover charges. But with promoter holding falling from 86% at IPO to 56% now, are they distributing sweets too generously?
3. Business Model (WTF Do They Even Do?)
Exhicon = Swiss army knife for events. Their verticals:
- B2B Trade Shows: They organise and manage exhibitions, fairs, conferences.
- Event Venues / Real Estate: Renting out venues + infra.
- Media & Publications: Show bulletins, digital campaigns, ad placements.
- Exhibition Solutions: End-to-end services including permissions, stall design, branding, lighting.
- Hospitality & F&B: Delegation, catering, hospitality for events.
- International Sales: Marketing network in 50+ countries (UAE, Thailand, Switzerland, HK).
Revenue streams are as diversified as an Indian thali: Exhibitor fees, sponsorships, venue rentals, advertising, and hospitality.
Clients? From Ministry of Railways to Canon and HDFC Bank. Basically, if
