Tempsens Instruments (India) IPO

Mainboard • Equity • Fresh capital cum OFS

LISTEDMAINBOARDEquity

Tempsens Instruments (India)

Price band

₹285 – ₹300

Lot size

50 shares

Min investment

₹15,000

Issue size

₹650 Cr

About the company

Tempsens Instruments (India) Limited was started in 1990. It is a thermal engineering and specialised cable company. It designs and makes temperature sensing products, electrical heating products and special purpose cables, mostly made to order as per what the customer needs. Its temperature sensing range includes thermocouples, resistance temperature detectors, infrared pyrometers, online thermal imagers and furnace monitoring cameras. Its electrical heating range includes immersion, process, skid, cartridge, band, tubular and flexible heaters. Its cable range includes low voltage control and power cables, instrumentation cables, thermocouple and RTD cables and nickel alloy conductors. As per the F&S Report the company is the largest maker of contact and non-contact temperature sensors in India by revenue, with a market share of about 10.5% in the temperature sensor segment in the year ended 31 March 2026. Between 1 April 2023 and 31 March 2026 it served more than 1,000 different customers, and it exports to over 80 countries including the United Arab Emirates, Germany and Poland.

Tempsens Instruments (India) Limited is a thermal engineering company making temperature sensors, electrical heating solutions and specialised cables. As per the F&S Report it is India's largest maker of contact and non-contact temperature sensors by revenue, with about 10.5% share of that segment in FY2026.

IPO details

Issue price: ₹300
Price band: ₹285 – ₹300
Face value: ₹4
Lot size: 50
Min investment: ₹15,000
Issue size: ₹650 Cr
Sale type: Fresh capital cum OFS
Listing on: BSE, NSE
BSE scrip code: 7902
NSE symbol: TEMPSENS.NS

Lot size & investment by category

APPLICATION	LOTS	SHARES	AMOUNT
Retail (Min)	1	50	₹15,000
Retail (Max)	13	650	₹1,95,000
S-HNI (Min)	14	700	₹2,10,000
B-HNI (Min)	67	3,350	₹10,05,000

Investor reservation

CATEGORY	RESERVED
QIB	Not more than 50% of the Net Offer
Retail	Not less than 35% of the Net Offer
NII	Not less than 15% of the Net Offer

Objects of the issue

1Funding certain capital expenditure of the Company towards the (i) electrical heating solutions (ii) specialized cable solutions18.13

2Pre-payment or scheduled re-payment, in full or in part, of certain outstanding borrowings availed by the Company55.00

3General Corporate Purposes

Financials

Rs. Crore • restated

METRIC	31 Mar 2026	31 Mar 2025	31 Mar 2024
Assets	661.05	551.28	271.14
Total Income	455.86	382.47	278.04
Profit After Tax	71.07	62.56	40.92
EBITDA	113.17	97.32	61.13
NET Worth	496.89	430.63	180.61
Reserves and Surplus	465.16	427.25	202.98
Total Borrowing	77.95	71.83	30.13

Key performance indicators

P/E Ratio

35.38

EPS (₹)

8.48

RoE

13.54%

RoCE

21.61%

RoNW

13.55%

PAT Margin

15.59%

EBITDA Margin

24.83%

Debt / Equity

0.15

NAV (₹)

61.66

✓ Strengths

• The company is the largest maker of contact and non-contact temperature sensors in India by revenue as per the F&S Report, with about 10.5% share of that segment in FY2026.

• Sales and profit have grown for three years. Total income went from Rs 278.04 crore in FY2024 to Rs 382.47 crore in FY2025 and Rs 455.86 crore in FY2026.

• Profit after tax grew from Rs 40.92 crore in FY2024 to Rs 62.56 crore in FY2025 and Rs 71.07 crore in FY2026.

• Margins are healthy for a manufacturing company. PAT margin was 15.59% and EBITDA was Rs 113.17 crore in FY2026.

• The balance sheet is strong. Net worth was Rs 496.89 crore against borrowing of only Rs 77.95 crore as on 31 March 2026.

• The customer base is wide, with more than 1,000 different customers served between April 2023 and March 2026, so it does not depend on a few buyers.

• Exports go to more than 80 countries including the UAE, Germany and Poland, which spreads the risk beyond the Indian market.

• The company has a long record of over 35 years, having started in 1990, and makes three related product lines instead of one.

⚠ Risks

• This issue is priced high on earnings. At the upper band of Rs 300 the post issue P/E is about 35.38 times on an EPS of Rs 8.48.

• Return on net worth is modest at 13.55%, which is low compared to the P/E being asked.

• Profit grew slower than sales in FY2026. Income rose 19% but profit after tax rose only 14%, so margin came down slightly.

• Borrowing has more than doubled in two years, from Rs 30.13 crore in FY2024 to Rs 77.95 crore in FY2026.

• Sales depend on industrial capital spending. Temperature sensors and heaters are bought when factories are being built or upgraded, so a slowdown in industry directly reduces orders.

• Exports to more than 80 countries bring currency risk and exposure to trade rules and tariffs in those markets.

• Only Rs 18.13 crore of the money goes into new capacity, while Rs 55.00 crore is for repaying borrowings, so a large part is not adding to the earning capacity.

• Promoter holding will come down from 80.51% to 65.67% after the issue.

Promoters & holding

Virendra Prakash Rathi, Vinay Rathi and Pratap Singh Talesara

Pre-issue promoter holding

80.51%

Post-issue promoter holding

65.67%

Data refreshed 07 Nov 2026, 05:04 pm IST. GMP is unofficial market sentiment, not investment advice.