Ardee Industries IPO \u2013 Flattrade Kosh<\/title>\n <style>\n \/* --- PREMIUM UNIFIED EDITORIAL SYSTEM (CMR DESIGN STYLE) --- *\/\n *, *::before, *::after { box-sizing: border-box; margin: 0; padding: 0; }\n\n .cmr-article-wrapper {\n font-family: -apple-system, BlinkMacSystemFont, \"Segoe UI\", Roboto, sans-serif;\n color: #2c3e50;\n max-width: 740px;\n margin: 0 auto;\n line-height: 1.8;\n padding: 32px px 60px;\n }\n\n \/* --- META BAR --- *\/\n .meta-bar {\n display: flex;\n align-items: center;\n gap: 12px;\n font-size: 13px;\n color: #64748b;\n margin-bottom: 16px;\n }\n \n .tag {\n background: #f4faf2;\n color: #339701;\n border: 1px solid rgba(51, 151, 1, 0.2);\n border-radius: 4px;\n padding: 2px 9px;\n font-weight: 600;\n font-size: 12px;\n text-transform: uppercase;\n letter-spacing: .5px;\n }\n\n h1.post-title {\n font-size: 24px;\n font-weight: 800;\n color: #1a252f;\n margin-bottom: 24px;\n line-height: 1.25;\n }\n\n h2.section-heading, .cmr-article-wrapper h2 {\n 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8px;\n }\n\n \/* --- CALL TO ACTION BUTTON --- *\/\n .cta-wrap {\n text-align: center;\n margin: 36px 0 20px;\n }\n\n .cta-btn {\n display: inline-flex;\n align-items: center;\n justify-content: center;\n background-color: #339701;\n color: #ffffff !important;\n font-size: 16px;\n font-weight: 600;\n text-decoration: none !important;\n padding: 14px 36px;\n border-radius: 8px;\n box-shadow: 0 4px 14px rgba(51, 151, 1, 0.2);\n transition: all 0.2s ease-in-out;\n border: none;\n cursor: pointer;\n letter-spacing: 0.5px;\n }\n\n .cta-btn:hover {\n background-color: #277501;\n transform: translateY(-2px);\n box-shadow: 0 6px 20px rgba(51, 151, 1, 0.3);\n }\n\n .source-note {\n font-size: 12px;\n color: #94a3b8;\n margin-top: 32px;\n border-top: 1px solid #f1f5f9;\n padding-top: 12px;\n text-align: center;\n }\n\n \/* --- CLEAN SEPARATORS --- *\/\n hr.divider {\n border: none;\n border-top: 1px solid #e2e8f0;\n margin: 32px 0;\n }\n\n \/* RESPONSIVE LAYOUT BREAKPOINTS *\/\n @media 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color: #64748b;\n text-align: left;\n }\n }\n <\/style>\n<\/head>\n<body>\n\n<div class=\"cmr-article-wrapper\">\n\n\n\n \n <div class=\"cmr-glance-title\">IPO at a Glance<\/div>\n \n <div class=\"cmr-glance-grid\">\n <div class=\"cmr-glance-item cmr-highlight\">\n <div class=\"cmr-g-label\">Price Band<\/div>\n <div class=\"cmr-g-value\">\u20b950 to \u20b953<\/div>\n <div class=\"cmr-g-sub\">Face Value \u20b92 \/ share<\/div>\n <\/div>\n\n <div class=\"cmr-glance-item cmr-highlight\">\n <div class=\"cmr-g-label\">Issue Opens<\/div>\n <div class=\"cmr-g-value\">Aug 5<\/div>\n <div class=\"cmr-g-sub\">Closes Aug 7, 2026<\/div>\n <\/div>\n\n <div class=\"cmr-glance-item\">\n <div class=\"cmr-g-label\">Lot Size<\/div>\n <div class=\"cmr-g-value\">281 Shares<\/div>\n <div class=\"cmr-g-sub\">Min Investment: \u20b914,893<\/div>\n <\/div>\n\n <div class=\"cmr-glance-item\">\n <div class=\"cmr-g-label\">Total Size<\/div>\n <div class=\"cmr-g-value\">\u20b9426 Cr<\/div>\n <div class=\"cmr-g-sub\">Fresh + OFS<\/div>\n <\/div>\n\n <div class=\"cmr-glance-item\">\n <div class=\"cmr-g-label\">Listing At<\/div>\n <div class=\"cmr-g-value\">BSE & NSE<\/div>\n <div class=\"cmr-g-sub\">Tentative: Aug 12, 2026<\/div>\n <\/div>\n\n <div class=\"cmr-glance-item\">\n <div class=\"cmr-g-label\">Lead Manager<\/div>\n <div class=\"cmr-g-value\" style=\"font-size: 14px; font-weight: 600; color: #006666;\">Pantomath Capital Advisors<\/div>\n <div class=\"cmr-g-sub\">Registrar: Kfin Technologies<\/div>\n <\/div>\n <\/div>\n\n \n\n \n <h2>About the Company: Circular Economy & Lead Recycling Specialist<\/h2>\n <p>\n Incorporated in 1993, Ardee Industries Limited is a prominent Indian company, with a core focus on the sustainable recovery and recycling of end-of-life energy storage products and non-ferrous scrap. Its product range includes high-purity lead and specialised lead alloys such as lead calcium, lead antimony, lead tin, lead silver, and lead cadmium alloys. These products are widely used across key sectors, including energy storage, e-mobility, automotive, and chemicals.\n <\/p>\n <p>\n As of March 31, 2025, Ardee Industries has served over 50 customers across domestic and international markets, spanning the battery and metals industries. The Company has exported its products to seven countries, including Singapore, Hong Kong, South Korea, Switzerland, the United Arab Emirates, Japan, and the United States of America.\n <\/p>\n <p>\n The Company owns and operates a manufacturing facility spread across approximately 7.61 acres in Tirupati district, Andhra Pradesh, with an installed capacity of 104,025 MTPA. The facility is equipped with advanced lead recycling infrastructure, including rotary furnaces, refining kettles, casting systems, and comprehensive pollution control mechanisms. It is certified under ISO 9001:2015 for quality management, ISO 14001:2015 for environmental management, and ISO 45001:2018 for occupational health and safety.\n <\/p>\n\n <ul class=\"cmr-feature-list\">\n <li>\n One of India\u2019s leading players in circular economy with a proven track record with demonstrated operational stability.\n <\/li>\n <li>\n Application of Hedging Mechanism for Commodity Price Risk Related Protection.\n <\/li>\n <li>\n Strong customer base along with robust raw materials sourcing capabilities.\n <\/li>\n <li>\n Track record of profitability and consistent financial performance.\n <\/li>\n <li>\n Experienced promoters and professional management team.\n <\/li>\n <\/ul>\n\n <p>\n The company’s promoters are <strong>Esha Gupta, Nikunj Aggarwal, and Sandeep Aggarwal<\/strong>.\n <\/p>\n\n <hr class=\"divider\" \/>\n\n \n <h2>Financial Trends & Performance<\/h2>\n <p>\n Ardee Industries Ltd.’s revenue increased by 57% and profit after tax (PAT) rose by 155% between the financial year ending with March 31, 2026 and March 31, 2025.\n <\/p>\n\n <div class=\"table-container\">\n <table class=\"fin-table\">\n <thead>\n <tr>\n <th>Period Ended<\/th>\n <th>31 Mar 2026<\/th>\n <th>31 Mar 2025<\/th>\n <th>31 Mar 2024<\/th>\n <\/tr>\n <\/thead>\n <tbody>\n <tr><td>Total Assets<\/td><td data-label=\"31 Mar 2026\">\u20b9363.33 Cr<\/td><td data-label=\"31 Mar 2025\">\u20b9262.06 Cr<\/td><td data-label=\"31 Mar 2024\">\u20b9196.12 Cr<\/td><\/tr>\n <tr><td>Total Income<\/td><td data-label=\"31 Mar 2026\">\u20b91,168.88 Cr<\/td><td data-label=\"31 Mar 2025\">\u20b9743.53 Cr<\/td><td data-label=\"31 Mar 2024\">\u20b9463.39 Cr<\/td><\/tr>\n <tr><td>Profit After Tax (PAT)<\/td><td data-label=\"31 Mar 2026\">\u20b984.68 Cr<\/td><td data-label=\"31 Mar 2025\">\u20b933.27 Cr<\/td><td data-label=\"31 Mar 2024\">\u20b98.95 Cr<\/td><\/tr>\n <tr><td>EBITDA<\/td><td data-label=\"31 Mar 2026\">\u20b9147.08 Cr<\/td><td data-label=\"31 Mar 2025\">\u20b965.93 Cr<\/td><td data-label=\"31 Mar 2024\">\u20b928.06 Cr<\/td><\/tr>\n <tr><td>Net Worth<\/td><td data-label=\"31 Mar 2026\">\u20b9147.38 Cr<\/td><td data-label=\"31 Mar 2025\">\u20b962.60 Cr<\/td><td data-label=\"31 Mar 2024\">\u20b929.25 Cr<\/td><\/tr>\n <tr><td>Reserves and Surplus<\/td><td data-label=\"31 Mar 2026\">\u20b996.42 Cr<\/td><td data-label=\"31 Mar 2025\">\u20b959.42 Cr<\/td><td data-label=\"31 Mar 2024\">\u20b926.06 Cr<\/td><\/tr>\n <tr><td>Total Borrowings<\/td><td data-label=\"31 Mar 2026\">\u20b9182.75 Cr<\/td><td data-label=\"31 Mar 2025\">\u20b9165.77 Cr<\/td><td data-label=\"31 Mar 2024\">\u20b9142.36 Cr<\/td><\/tr>\n <\/tbody>\n <\/table>\n <\/div>\n <p class=\"fin-note\">All figures in \u20b9 Crore | Source: Chittorgarh \/ DRHP (Restated)<\/p>\n\n \n <h2>Key Performance Indicators<\/h2>\n <div class=\"kpi-grid\">\n <div class=\"kpi-card\">\n <div class=\"kpi-value\">81%<\/div>\n <div class=\"kpi-label\">ROE (FY26)<\/div>\n <\/div>\n <div class=\"kpi-card\">\n <div class=\"kpi-value\">44.26%<\/div>\n <div class=\"kpi-label\">ROCE (FY26)<\/div>\n <\/div>\n <div class=\"kpi-card\">\n <div class=\"kpi-value\">57.46%<\/div>\n <div class=\"kpi-label\">RoNW (FY26)<\/div>\n <\/div>\n <div class=\"kpi-card\">\n <div class=\"kpi-value\">7.25%<\/div>\n <div class=\"kpi-label\">PAT Margin<\/div>\n <\/div>\n <div class=\"kpi-card\">\n <div class=\"kpi-value\">12.60%<\/div>\n <div class=\"kpi-label\">EBITDA Margin<\/div>\n <\/div>\n <div class=\"kpi-card\">\n <div class=\"kpi-value\">1.25<\/div>\n <div class=\"kpi-label\">Debt \/ Equity<\/div>\n <\/div>\n <\/div>\n\n <hr class=\"divider\" \/>\n\n \n <h2>Competitive Strengths<\/h2>\n <ul class=\"cmr-feature-list\">\n <li>\n <strong>Circular Economy Leadership:<\/strong> One of India\u2019s leading players in the circular economy space with a demonstrated operational stability track record.\n <\/li>\n <li>\n <strong>Hedging Risk Management:<\/strong> Robust application of commodity price hedging mechanisms protecting operations against volatile metal price swings.\n <\/li>\n <li>\n <strong>Established Supply & Demand Base:<\/strong> Strong client base coupled with comprehensive raw material scrap sourcing networks across domestic and export markets.\n <\/li>\n <li>\n <strong>Consistent Execution:<\/strong> Proven track record of expanding capacity and delivering strong profit growth.\n <\/li>\n <\/ul>\n\n <hr class=\"divider\" \/>\n\n \n <h2>Issue Reservation<\/h2>\n <div class=\"table-container\">\n <table class=\"res-table\">\n <thead>\n <tr>\n <th>Investor Category<\/th>\n <th>Shares Offered<\/th>\n <\/tr>\n <\/thead>\n <tbody>\n <tr><td>QIB Shares Offered<\/td><td>Not more than 50% of the Net Issue<\/td><\/tr>\n <tr><td>Retail Shares Offered<\/td><td>Not more than 35% of the Net Issue<\/td><\/tr>\n <tr><td>NII Shares Offered<\/td><td>Not less than 15% of the Net Issue<\/td><\/tr>\n <\/tbody>\n <\/table>\n <\/div>\n\n <hr class=\"divider\" \/>\n\n \n <h2>IPO Structure & Use of Proceeds<\/h2>\n <p>\n The \u20b9425.87 Cr issue consists of a Fresh Issue of \u20b9320.00 Cr and an Offer for Sale of \u20b9105.87 Cr by promoter selling shareholders. The net fresh proceeds are proposed to be utilized as follows:\n <\/p>\n\n <ul class=\"objects-list\">\n <li>\n <span class=\"obj-label\">Funding incremental working capital requirement of Company<\/span>\n <span class=\"obj-amt\">\u20b9220.00 Cr<\/span>\n <\/li>\n <li>\n <span class=\"obj-label\">Repayment and\/or pre-payment, in full or in part, of certain borrowings availed by Company<\/span>\n <span class=\"obj-amt\">\u20b920.00 Cr<\/span>\n <\/li>\n <li>\n <span class=\"obj-label\">General Corporate Purposes<\/span>\n <span class=\"obj-amt\">Balance<\/span>\n <\/li>\n <\/ul>\n\n <p>\n Bidding opens on <strong>August 5, 2026<\/strong> and closes on <strong>August 7, 2026<\/strong>. Minimum retail application lot size is fixed at 281 shares (\u20b914,893 based on upper price band).\n <\/p>\n\n \n <div class=\"cmr-verdict-card\">\n <div class=\"cmr-verdict-title\">The Final Verdict<\/div>\n <p>\n Ardee Industries Limited is well-positioned in India’s fast-growing lead recycling and circular economy sector, supported by strong demand from e-mobility, automotive, and energy storage industries.\n <\/p>\n <p style=\"margin-top: 12px;\">\n The company has demonstrated impressive financial growth, with revenue expanding by 57% and PAT rising by 155% in FY26, alongside robust return metrics like ROE of 81%. With major fresh proceeds allocated toward scaling working capital (\u20b9220 Cr), the company is gearing up for further operational expansion. Investors looking for circular economy and recycling exposure may find this offering worth reviewing.\n <\/p>\n <\/div>\n\n \n <div class=\"cta-wrap\">\n <a class=\"cta-btn\" href=\"https:\/\/novo.flattrade.in\/\" target=\"_blank\" rel=\"noopener\">\n Apply for Ardee Industries IPO on Flattrade\n <\/a>\n <\/div>\n\n <div class=\"source-note\">Source: Chittorgarh IPO Filings<\/div>\n\n<\/div>\n\n<\/body>\n<\/html>\n\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-44e3bc9 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"44e3bc9\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element 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\n\t\t\t\t\t\t\t\t\t\n\n\n \n \n Ardee Industries IPO \u2013 Flattrade Kosh<\/title>\n <style>\n \/* --- PREMIUM UNIFIED EDITORIAL SYSTEM (CMR DESIGN STYLE) --- *\/\n *, *::before, *::after { box-sizing: border-box; margin: 0; padding: 0; }\n\n .cmr-article-wrapper {\n font-family: -apple-system, BlinkMacSystemFont, \"Segoe UI\", Roboto, sans-serif;\n color: #2c3e50;\n max-width: 740px;\n margin: 0 auto;\n line-height: 1.8;\n padding: 32px px 60px;\n }\n\n \/* --- META BAR --- *\/\n .meta-bar {\n display: flex;\n align-items: center;\n gap: 12px;\n font-size: 13px;\n color: #64748b;\n margin-bottom: 16px;\n }\n \n .tag {\n background: #f4faf2;\n color: #339701;\n border: 1px solid rgba(51, 151, 1, 0.2);\n border-radius: 4px;\n padding: 2px 9px;\n font-weight: 600;\n font-size: 12px;\n text-transform: uppercase;\n letter-spacing: .5px;\n }\n\n h1.post-title {\n font-size: 24px;\n font-weight: 800;\n color: #1a252f;\n margin-bottom: 24px;\n line-height: 1.25;\n }\n\n h2.section-heading, 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right;\n }\n\n .fin-table th:first-child,\n .res-table th {\n text-align: left;\n }\n\n .fin-table td {\n color: #334155;\n text-align: right;\n }\n\n .res-table td {\n color: #334155;\n text-align: left;\n }\n\n .fin-table td:first-child,\n .res-table td:first-child {\n text-align: left;\n font-weight: 600;\n color: #1e293b;\n }\n\n .fin-table tbody tr:last-child td,\n .res-table tbody tr:last-child td {\n border-bottom: none;\n }\n\n .fin-note {\n font-size: 13px;\n color: #64748b;\n margin-top: -10px;\n margin-bottom: 24px;\n }\n\n \/* --- KPI GRID --- *\/\n .kpi-grid {\n display: grid;\n grid-template-columns: repeat(auto-fit, minmax(130px, 1fr));\n gap: 12px;\n margin: 24px 0;\n }\n\n .kpi-card {\n background: #ffffff;\n border: 1px solid #e2e8f0;\n border-radius: 8px;\n padding: 16px 12px;\n text-align: center;\n transition: all 0.2s ease;\n }\n\n .kpi-card:hover {\n border-color: #cbd5e1;\n }\n\n .kpi-card .kpi-value {\n font-size: 18px;\n font-weight: 700;\n color: #339701;\n line-height: 1.2;\n }\n\n .kpi-card .kpi-label {\n font-size: 11px;\n color: #64748b;\n text-transform: uppercase;\n letter-spacing: 0.5px;\n margin-top: 6px;\n font-weight: 600;\n }\n\n \/* --- OBJECTS MATRIX CONTAINER --- *\/\n .objects-list {\n list-style: none;\n padding: 0;\n margin: 20px 0;\n }\n\n .objects-list li {\n display: flex;\n justify-content: space-between;\n align-items: center;\n padding: 14px 18px;\n border-radius: 8px;\n margin-bottom: 10px;\n background: #f8fafc;\n border: 1px solid #e2e8f0;\n font-size: 15px;\n text-align: justify;\n }\n\n .objects-list li .obj-label {\n color: #334155;\n }\n\n .objects-list li .obj-amt {\n font-weight: 700;\n color: #1e293b;\n white-space: nowrap;\n margin-left: 12px;\n }\n\n \/* --- TAKEAWAY VERDICT CARD --- *\/\n .cmr-verdict-card {\n background: #f4faf2;\n border-left: 4px solid #339701;\n padding: 24px;\n border-radius: 0 8px 8px 0;\n margin: 40px 0;\n }\n\n .cmr-verdict-title {\n font-size: 18px;\n font-weight: 700;\n color: #1a252f;\n margin-bottom: 8px;\n }\n\n \/* --- CALL TO ACTION BUTTON --- *\/\n .cta-wrap {\n text-align: center;\n margin: 36px 0 20px;\n }\n\n .cta-btn {\n display: inline-flex;\n align-items: center;\n justify-content: center;\n background-color: #339701;\n color: #ffffff !important;\n font-size: 16px;\n font-weight: 600;\n text-decoration: none !important;\n padding: 14px 36px;\n border-radius: 8px;\n box-shadow: 0 4px 14px rgba(51, 151, 1, 0.2);\n transition: all 0.2s ease-in-out;\n border: none;\n cursor: pointer;\n letter-spacing: 0.5px;\n }\n\n .cta-btn:hover {\n background-color: #277501;\n transform: translateY(-2px);\n box-shadow: 0 6px 20px rgba(51, 151, 1, 0.3);\n }\n\n .source-note {\n font-size: 12px;\n color: #94a3b8;\n margin-top: 32px;\n border-top: 1px solid #f1f5f9;\n padding-top: 12px;\n text-align: center;\n }\n\n \/* --- CLEAN SEPARATORS --- *\/\n hr.divider {\n border: none;\n border-top: 1px solid #e2e8f0;\n margin: 32px 0;\n }\n\n \/* RESPONSIVE LAYOUT BREAKPOINTS *\/\n @media (max-width: 600px) {\n .cmr-glance-grid {\n grid-template-columns: repeat(2, 1fr);\n }\n .kpi-grid {\n grid-template-columns: repeat(2, 1fr);\n }\n\n \/* AUTOMATED INTERACTIVE BLOCK COMPRESSION FOR SMALL MOBILE PHONES *\/\n .fin-table, .fin-table thead, .fin-table tbody, .fin-table th, .fin-table td, .fin-table tr,\n .res-table, .res-table thead, .res-table tbody, .res-table th, .res-table td, .res-table tr {\n display: block;\n }\n \n .fin-table thead, .res-table thead {\n display: none;\n }\n \n .fin-table tr, .res-table tr {\n margin-bottom: 12px;\n border: 1px solid #e2e8f0;\n border-radius: 8px;\n padding: 8px 0;\n }\n \n .fin-table td, .res-table td {\n text-align: right !important;\n padding: 6px 16px;\n border-bottom: 1px solid #f1f5f9;\n display: flex;\n justify-content: space-between;\n }\n\n .fin-table td:last-child, .res-table td:last-child {\n border-bottom: none;\n }\n\n .fin-table td::before, .res-table td::before {\n content: attr(data-label);\n font-weight: 700;\n color: #64748b;\n text-align: left;\n }\n }\n <\/style>\n<\/head>\n<body>\n\n<div class=\"cmr-article-wrapper\">\n\n\n\n \n <div class=\"cmr-glance-title\">IPO at a Glance<\/div>\n \n <div class=\"cmr-glance-grid\">\n <div class=\"cmr-glance-item cmr-highlight\">\n <div class=\"cmr-g-label\">Price Band<\/div>\n <div class=\"cmr-g-value\">\u20b950 to \u20b953<\/div>\n <div class=\"cmr-g-sub\">Face Value \u20b92 \/ share<\/div>\n <\/div>\n\n <div class=\"cmr-glance-item cmr-highlight\">\n <div class=\"cmr-g-label\">Issue Opens<\/div>\n <div class=\"cmr-g-value\">Aug 5<\/div>\n <div class=\"cmr-g-sub\">Closes Aug 7, 2026<\/div>\n <\/div>\n\n <div class=\"cmr-glance-item\">\n <div class=\"cmr-g-label\">Lot Size<\/div>\n <div class=\"cmr-g-value\">281 Shares<\/div>\n <div class=\"cmr-g-sub\">Min Investment: \u20b914,893<\/div>\n <\/div>\n\n <div class=\"cmr-glance-item\">\n <div class=\"cmr-g-label\">Total Size<\/div>\n <div class=\"cmr-g-value\">\u20b9426 Cr<\/div>\n <div class=\"cmr-g-sub\">Fresh + OFS<\/div>\n <\/div>\n\n <div class=\"cmr-glance-item\">\n <div class=\"cmr-g-label\">Listing At<\/div>\n <div class=\"cmr-g-value\">BSE & NSE<\/div>\n <div class=\"cmr-g-sub\">Tentative: Aug 12, 2026<\/div>\n <\/div>\n\n <div class=\"cmr-glance-item\">\n <div class=\"cmr-g-label\">Lead Manager<\/div>\n <div class=\"cmr-g-value\" style=\"font-size: 14px; font-weight: 600; color: #006666;\">Pantomath Capital Advisors<\/div>\n <div class=\"cmr-g-sub\">Registrar: Kfin Technologies<\/div>\n <\/div>\n <\/div>\n\n \n\n \n <h2>About the Company: Circular Economy & Lead Recycling Specialist<\/h2>\n <p>\n Incorporated in 1993, Ardee Industries Limited is a prominent Indian company, with a core focus on the sustainable recovery and recycling of end-of-life energy storage products and non-ferrous scrap. Its product range includes high-purity lead and specialised lead alloys such as lead calcium, lead antimony, lead tin, lead silver, and lead cadmium alloys. These products are widely used across key sectors, including energy storage, e-mobility, automotive, and chemicals.\n <\/p>\n <p>\n As of March 31, 2025, Ardee Industries has served over 50 customers across domestic and international markets, spanning the battery and metals industries. The Company has exported its products to seven countries, including Singapore, Hong Kong, South Korea, Switzerland, the United Arab Emirates, Japan, and the United States of America.\n <\/p>\n <p>\n The Company owns and operates a manufacturing facility spread across approximately 7.61 acres in Tirupati district, Andhra Pradesh, with an installed capacity of 104,025 MTPA. The facility is equipped with advanced lead recycling infrastructure, including rotary furnaces, refining kettles, casting systems, and comprehensive pollution control mechanisms. It is certified under ISO 9001:2015 for quality management, ISO 14001:2015 for environmental management, and ISO 45001:2018 for occupational health and safety.\n <\/p>\n\n <ul class=\"cmr-feature-list\">\n <li>\n One of India\u2019s leading players in circular economy with a proven track record with demonstrated operational stability.\n <\/li>\n <li>\n Application of Hedging Mechanism for Commodity Price Risk Related Protection.\n <\/li>\n <li>\n Strong customer base along with robust raw materials sourcing capabilities.\n <\/li>\n <li>\n Track record of profitability and consistent financial performance.\n <\/li>\n <li>\n Experienced promoters and professional management team.\n <\/li>\n <\/ul>\n\n <p>\n The company’s promoters are <strong>Esha Gupta, Nikunj Aggarwal, and Sandeep Aggarwal<\/strong>.\n <\/p>\n\n <hr class=\"divider\" \/>\n\n \n <h2>Financial Trends & Performance<\/h2>\n <p>\n Ardee Industries Ltd.’s revenue increased by 57% and profit after tax (PAT) rose by 155% between the financial year ending with March 31, 2026 and March 31, 2025.\n <\/p>\n\n <div class=\"table-container\">\n <table class=\"fin-table\">\n <thead>\n <tr>\n <th>Period Ended<\/th>\n <th>31 Mar 2026<\/th>\n <th>31 Mar 2025<\/th>\n <th>31 Mar 2024<\/th>\n <\/tr>\n <\/thead>\n <tbody>\n <tr><td>Total Assets<\/td><td data-label=\"31 Mar 2026\">\u20b9363.33 Cr<\/td><td data-label=\"31 Mar 2025\">\u20b9262.06 Cr<\/td><td data-label=\"31 Mar 2024\">\u20b9196.12 Cr<\/td><\/tr>\n <tr><td>Total Income<\/td><td data-label=\"31 Mar 2026\">\u20b91,168.88 Cr<\/td><td data-label=\"31 Mar 2025\">\u20b9743.53 Cr<\/td><td data-label=\"31 Mar 2024\">\u20b9463.39 Cr<\/td><\/tr>\n <tr><td>Profit After Tax (PAT)<\/td><td data-label=\"31 Mar 2026\">\u20b984.68 Cr<\/td><td data-label=\"31 Mar 2025\">\u20b933.27 Cr<\/td><td data-label=\"31 Mar 2024\">\u20b98.95 Cr<\/td><\/tr>\n <tr><td>EBITDA<\/td><td data-label=\"31 Mar 2026\">\u20b9147.08 Cr<\/td><td data-label=\"31 Mar 2025\">\u20b965.93 Cr<\/td><td data-label=\"31 Mar 2024\">\u20b928.06 Cr<\/td><\/tr>\n <tr><td>Net Worth<\/td><td data-label=\"31 Mar 2026\">\u20b9147.38 Cr<\/td><td data-label=\"31 Mar 2025\">\u20b962.60 Cr<\/td><td data-label=\"31 Mar 2024\">\u20b929.25 Cr<\/td><\/tr>\n <tr><td>Reserves and Surplus<\/td><td data-label=\"31 Mar 2026\">\u20b996.42 Cr<\/td><td data-label=\"31 Mar 2025\">\u20b959.42 Cr<\/td><td data-label=\"31 Mar 2024\">\u20b926.06 Cr<\/td><\/tr>\n <tr><td>Total Borrowings<\/td><td data-label=\"31 Mar 2026\">\u20b9182.75 Cr<\/td><td data-label=\"31 Mar 2025\">\u20b9165.77 Cr<\/td><td data-label=\"31 Mar 2024\">\u20b9142.36 Cr<\/td><\/tr>\n <\/tbody>\n <\/table>\n <\/div>\n <p class=\"fin-note\">All figures in \u20b9 Crore | Source: Chittorgarh \/ DRHP (Restated)<\/p>\n\n \n <h2>Key Performance Indicators<\/h2>\n <div class=\"kpi-grid\">\n <div class=\"kpi-card\">\n <div class=\"kpi-value\">81%<\/div>\n <div class=\"kpi-label\">ROE (FY26)<\/div>\n <\/div>\n <div class=\"kpi-card\">\n <div class=\"kpi-value\">44.26%<\/div>\n <div class=\"kpi-label\">ROCE (FY26)<\/div>\n <\/div>\n <div class=\"kpi-card\">\n <div class=\"kpi-value\">57.46%<\/div>\n <div class=\"kpi-label\">RoNW (FY26)<\/div>\n <\/div>\n <div class=\"kpi-card\">\n <div class=\"kpi-value\">7.25%<\/div>\n <div class=\"kpi-label\">PAT Margin<\/div>\n <\/div>\n <div class=\"kpi-card\">\n <div class=\"kpi-value\">12.60%<\/div>\n <div class=\"kpi-label\">EBITDA Margin<\/div>\n <\/div>\n <div class=\"kpi-card\">\n <div class=\"kpi-value\">1.25<\/div>\n <div class=\"kpi-label\">Debt \/ Equity<\/div>\n <\/div>\n <\/div>\n\n <hr class=\"divider\" \/>\n\n \n <h2>Competitive Strengths<\/h2>\n <ul class=\"cmr-feature-list\">\n <li>\n <strong>Circular Economy Leadership:<\/strong> One of India\u2019s leading players in the circular economy space with a demonstrated operational stability track record.\n <\/li>\n <li>\n <strong>Hedging Risk Management:<\/strong> Robust application of commodity price hedging mechanisms protecting operations against volatile metal price swings.\n <\/li>\n <li>\n <strong>Established Supply & Demand Base:<\/strong> Strong client base coupled with comprehensive raw material scrap sourcing networks across domestic and export markets.\n <\/li>\n <li>\n <strong>Consistent Execution:<\/strong> Proven track record of expanding capacity and delivering strong profit growth.\n <\/li>\n <\/ul>\n\n <hr class=\"divider\" \/>\n\n \n <h2>Issue Reservation<\/h2>\n <div class=\"table-container\">\n <table class=\"res-table\">\n <thead>\n <tr>\n <th>Investor Category<\/th>\n <th>Shares Offered<\/th>\n <\/tr>\n <\/thead>\n <tbody>\n <tr><td>QIB Shares Offered<\/td><td>Not more than 50% of the Net Issue<\/td><\/tr>\n <tr><td>Retail Shares Offered<\/td><td>Not more than 35% of the Net Issue<\/td><\/tr>\n <tr><td>NII Shares Offered<\/td><td>Not less than 15% of the Net Issue<\/td><\/tr>\n <\/tbody>\n <\/table>\n <\/div>\n\n <hr class=\"divider\" \/>\n\n \n <h2>IPO Structure & Use of Proceeds<\/h2>\n <p>\n The \u20b9425.87 Cr issue consists of a Fresh Issue of \u20b9320.00 Cr and an Offer for Sale of \u20b9105.87 Cr by promoter selling shareholders. The net fresh proceeds are proposed to be utilized as follows:\n <\/p>\n\n <ul class=\"objects-list\">\n <li>\n <span class=\"obj-label\">Funding incremental working capital requirement of Company<\/span>\n <span class=\"obj-amt\">\u20b9220.00 Cr<\/span>\n <\/li>\n <li>\n <span class=\"obj-label\">Repayment and\/or pre-payment, in full or in part, of certain borrowings availed by Company<\/span>\n <span class=\"obj-amt\">\u20b920.00 Cr<\/span>\n <\/li>\n <li>\n <span class=\"obj-label\">General Corporate Purposes<\/span>\n <span class=\"obj-amt\">Balance<\/span>\n <\/li>\n <\/ul>\n\n <p>\n Bidding opens on <strong>August 5, 2026<\/strong> and closes on <strong>August 7, 2026<\/strong>. Minimum retail application lot size is fixed at 281 shares (\u20b914,893 based on upper price band).\n <\/p>\n\n \n <div class=\"cmr-verdict-card\">\n <div class=\"cmr-verdict-title\">The Final Verdict<\/div>\n <p>\n Ardee Industries Limited is well-positioned in India’s fast-growing lead recycling and circular economy sector, supported by strong demand from e-mobility, automotive, and energy storage industries.\n <\/p>\n <p style=\"margin-top: 12px;\">\n The company has demonstrated impressive financial growth, with revenue expanding by 57% and PAT rising by 155% in FY26, alongside robust return metrics like ROE of 81%. With major fresh proceeds allocated toward scaling working capital (\u20b9220 Cr), the company is gearing up for further operational expansion. Investors looking for circular economy and recycling exposure may find this offering worth reviewing.\n <\/p>\n <\/div>\n\n \n <div class=\"cta-wrap\">\n <a class=\"cta-btn\" href=\"https:\/\/novo.flattrade.in\/\" target=\"_blank\" rel=\"noopener\">\n Apply for Ardee Industries IPO on Flattrade\n <\/a>\n <\/div>\n\n <div class=\"source-note\">Source: Chittorgarh IPO Filings<\/div>\n\n<\/div>\n\n<\/body>\n<\/html>\n\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-44e3bc9 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"44e3bc9\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-7e819f1\" data-id=\"7e819f1\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-da5e34d elementor-widget elementor-widget-text-editor\" data-id=\"da5e34d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t\t\t<a href=\"https:\/\/google.com\/preferences\/source?q=https:\/\/flattrade.in\/\" class=\"ft-google-mini-btn\">\n\n\n <div class=\"mini-btn-content\">\n\n <span class=\"mini-top\">\n Stay updated with\n <\/span>\n\n <span class=\"mini-main\">\n\n <span class=\"flattrade-logo\">\n FLAT<span>TRADE<\/span>\n <small>KOSH<\/small>\n <\/span>\n \n\n on\n\n <span class=\"google-text\">\n <span class=\"g-blue\">G<\/span><span class=\"g-red\">o<\/span><span class=\"g-yellow\">o<\/span><span class=\"g-blue\">g<\/span><span class=\"g-green\">l<\/span><span class=\"g-red\">e<\/span>\n <\/span>\n\n <span class=\"arrow\">\u2197<\/span>\n\n <\/span>\n\n <span class=\"mini-desc\">\n Get market insights, IPO updates, and finance explainers more easily.\n <\/span>\n\n <\/div>\n\n<\/a>\n\n<style>\n\n\/* =========================\n FONT\n========================= *\/\n\n\n\/* =========================\n GLOBAL\n========================= *\/\n\n*{\n box-sizing:border-box;\n}\n\n\/* =========================\n BUTTON\n========================= *\/\n\n.ft-google-mini-btn{\n\n position:relative;\n\n display:inline-flex;\n\n align-items:center;\n\n gap:14px;\n\n width:100%;\n max-width:420px;\n\n padding:14px 16px;\n\n border-radius:18px;\n\n text-decoration:none;\n\n overflow:hidden;\n\n font-family:'Plus Jakarta Sans',sans-serif;\n\n border:1px solid #e5ebf5;\n\n background:\n linear-gradient(\n 135deg,\n #ffffff 0%,\n #f8fbff 50%,\n #f4f8fd 100%\n );\n\n box-shadow:\n 0 3px 8px rgba(15,23,42,0.03),\n 0 10px 20px rgba(15,23,42,0.05);\n\n transition:\n transform 0.25s ease,\n box-shadow 0.25s ease;\n}\n\n\/* =========================\n HOVER\n========================= *\/\n\n.ft-google-mini-btn:hover{\n\n transform:translateY(-2px);\n\n box-shadow:\n 0 8px 18px rgba(15,23,42,0.06),\n 0 18px 30px rgba(37,99,235,0.07);\n}\n\n\/* =========================\n GOOGLE ICON\n========================= *\/\n\n.google-icon{\n\n width:42px;\n\n height:42px;\n\n min-width:42px;\n}\n\n\/* =========================\n CONTENT\n========================= *\/\n\n.mini-btn-content{\n display:flex;\n flex-direction:column;\n}\n\n\/* =========================\n TOP TEXT\n========================= *\/\n\n.mini-top{\n\n font-size:11px;\n\n line-height:1.3;\n\n font-weight:700;\n\n color:#64748b;\n\n margin-bottom:2px;\n}\n\n\/* =========================\n MAIN TEXT\n========================= *\/\n\n.mini-main{\n\n font-size:15px;\n\n line-height:1.35;\n\n font-weight:800;\n\n color:#0f172a;\n}\n\n\/* 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