IPO at a Glance
Price Band
₹285 to ₹300
Face Value ₹4 / share
Issue Opens
Aug 20
Closes Aug 24, 2026
Lot Size
50 Shares
Min Investment: ₹15,000
Total Size
₹650 Cr
Fresh + OFS
Listing At
BSE & NSE
Tentative: Aug 28, 2026
Lead Manager
ICICI Securities
Registrar: Kfin Technologies
About the Company: Specialized Thermal Engineering Solutions
Incorporated in 1990, Tempsens Instruments (India) Limited is a leading thermal engineering and specialized cable manufacturer, engaged in the design and manufacture of customized temperature sensing solutions, electrical heating solutions, and specialized cables. The company is the largest manufacturer of contact and non-contact temperature sensors in India by revenue, commanding approximately a 10.5% market share in the temperature sensor segment for the fiscal year ended March 31, 2026. It offers a diverse product portfolio divided across three core verticals:Temperature Sensing Solutions: Thermocouples, resistance temperature detectors (RTDs), infrared pyrometers, online thermal imagers, and furnace monitoring camera systems.
Electrical Heating Solutions: Immersion, process, skid, cartridge, band, tubular, and flexible heaters.
Specialized Cables: Low-voltage control and power cables, instrumentation cables, thermocouple & RTD cables, and nickel alloy conductors.
Financial Trends & Performance
Tempsens Instruments (India) Ltd.’s total revenue increased by 19% while profit after tax (PAT) rose by 14% between the financial years ending March 31, 2026, and March 31, 2025.| Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Total Assets | ₹661.05 Cr | ₹551.28 Cr | ₹271.14 Cr |
| Total Income | ₹455.86 Cr | ₹382.47 Cr | ₹278.04 Cr |
| Profit After Tax (PAT) | ₹71.07 Cr | ₹62.56 Cr | ₹40.92 Cr |
| EBITDA | ₹113.17 Cr | ₹97.32 Cr | ₹61.13 Cr |
| Net Worth | ₹496.89 Cr | ₹430.63 Cr | ₹180.61 Cr |
| Reserves and Surplus | ₹465.16 Cr | ₹427.25 Cr | ₹202.98 Cr |
| Total Borrowings | ₹77.95 Cr | ₹71.83 Cr | ₹30.13 Cr |
All figures in ₹ Crore | Source: Chittorgarh / DRHP (Restated Consolidated)
Key Performance Indicators & Valuation (FY2026)
21.61%
ROCE (FY26)
13.54%
ROE (FY26)
15.59%
PAT Margin
24.83%
EBITDA Margin
₹61.66
NAV per share
35.38x
Post-IPO P/E
Competitive Strengths
Market Leadership: Largest manufacturer of contact and non-contact temperature sensors in India by revenue.
High Entry Barriers: Specialized in-house engineering and R&D capabilities focused on high-precision indigenization.
Diversified Revenue Model: Balanced mix of high-margin project supplies and recurring maintenance/replacement (MRO) demand.
Global Reach: Robust export sales footprints covering more than 80 countries.
Issue Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50% of the Net Offer |
| Retail Shares Offered | Not less than 35% of the Net Offer |
| NII Shares Offered | Not less than 15% of the Net Offer |
IPO Structure & Use of Proceeds
The ₹650.00 Cr issue comprises a Fresh Issue of ₹95.00 Cr (31,66,666 shares) and an Offer for Sale of ₹555.00 Cr (1,85,00,000 shares) by selling promoters and individual shareholders. The fresh proceeds are proposed to be utilized as follows:Funding capital expenditure for electrical heating and specialized cable solutions
₹18.13 Cr
Pre-payment or scheduled re-payment of certain outstanding borrowings
₹55.00 Cr
General corporate purposes
Balance
The Final Verdict
Tempsens Instruments (India) Limited represents a niche, high-entry-barrier engineering play with market leadership in domestic temperature sensing and process heating systems.
The company maintains solid margins (EBITDA margin of 24.83% and PAT margin of 15.59%) and disciplined debt management (Debt/Equity of 0.15). Allocating ₹55 Cr of fresh capital toward debt reduction further optimizes the balance sheet. At a post-issue P/E valuation of 35.38x, investors seeking exposure to precision thermal engineering and industrial indigenization can evaluate this offering.
Source: Chittorgarh IPO Filings
