1. At a Glance
Takyon Networks is hitting BSE SME with a ₹20.48 crore IPO, fully fresh issue of 37.92 lakh shares at ₹51–₹54. Retail investors must invest ₹2.04 lakh (2 lots) to participate. Opens July 30, closes August 1, and lists on August 6, 2025. Anchors already picked up ₹5.77 Cr—confidence or just warm-up?
2. Introduction
This Lucknow-based IT infra company wants to be the “network backbone” for enterprises and government clients. Despite a 4% dip in FY25 revenue, profits surged 33%. Is it a digital growth story in disguise or just a patchy connection?
3. Business Model – WTF Do They Even Do?
Takyon offers end-to-end IT solutions:
- IT Infrastructure, cloud, networking & security solutions
- Video conferencing, surveillance & power conditioning
- AMC & facility management services
- Customized software solutions
Clients span government, railways, defense, banking, education, telecom, healthcare, and more. Think of them as your IT department, but outsourced.
4. Financials Overview
FY25 performance:
- Revenue: ₹103.5 Cr (-4%)
- PAT: ₹7.0 Cr (+33%)
- EBITDA: ₹12.2 Cr
- Net Worth: ₹35.2 Cr
Topline slipped, but bottom line bulked up—cost control at play.
5. What’s This Stock Worth?
- Pre-IPO P/E: 8.2x (EPS ₹6.61)
- Post-IPO P/E: 11.1x (EPS ₹4.86)
- Fair Value Range: ₹50–₹60
Edu Punchline: Priced attractively if growth revives; risky if revenue keeps shrinking.
6. What-If Scenarios
| Scenario | Outcome |
|---|---|
| IT orders flow in | Stock rerates post-listing |
| Revenue stagnates | Valuation stays flat |
| Large contract wins | Multibagger whispers |
7. What’s Cooking (SWOT)
Strengths – Diversified clients, end-to-end IT services, solid order book.
Weaknesses – Revenue dip in FY25, dependency on government contracts.
Opportunities – Digital infra boom, AMC recurring revenue.
Threats – Tech obsolescence, pricing pressure from bigger IT firms.
8. Balance Sheet 💰
| (₹ Cr) | FY25 |
|---|---|
| Assets | 85.7 |
| Liabilities | 50.5 |
| Net Worth | 35.2 |
| Borrowings | 12.1 |
Debt/Equity at 0.34—comfortable leverage.
9. Cash Flow (FY23–FY25)
| FY | Ops | Investing | Financing |
|---|---|---|---|
| 23 | Positive | Minimal capex | Debt stable |
| 24 | Strong | Low | Debt reduced |
| 25 | Stronger | Low | IPO to deleverage further |
Cash flows stable; IPO to strengthen liquidity.
10. Ratios – Sexy or Stressy?
| Metric | FY25 |
|---|---|
| ROE | 21.9% |
| ROCE | 24.4% |
| PAT Margin | 6.8% |
| EBITDA Margin | 11.8% |
| D/E | 0.34 |
Healthy margins, respectable returns.
11. P&L Breakdown – Show Me the Money
| FY | Revenue | EBITDA | PAT |
|---|---|---|---|
| 23 | 64.0 | 5.2 | 2.8 |
| 24 | 108.3 | 10.1 | 5.2 |
| 25 | 103.5 | 12.2 | 7.0 |
FY25 revenue slip but profit scaling upwards.
12. Peer Comparison
| Company | P/E | ROE | Margin |
|---|---|---|---|
| Takyon (Post) | 11.1x | 19.8% | 6.8% |
| SME IT Infra Avg | 12–14x | 15–18% | 5–7% |
Valuation below peers; margins decent.
13. EduInvesting Verdict™
Takyon Networks IPO combines a reasonable valuation, strong margins, and low debt. The only blemish? A revenue dip in FY25. If the order book fires, this could outperform.
Final Take: Attractive SME tech bet—but only for those who can handle SME listing volatility.
Written by EduInvesting Team | July 27, 2025
Tags: Takyon Networks IPO, SME IPO, ₹20.48 Cr, IT Infrastructure & Digital Solutions, EduInvesting Premium
