PH1 Industries, Specialised Engineering Solutions Provider, Files DRHP with NSE Emerge

Hyderabad (Telangana) [India], October 9: PH1 Industries Limited (“PH1” or the “Company”), an engineering solutions provider offering Alternative Fuel and Raw Material (AFR) and Bulk Material Handling (BMH) systems, and the leading liquid AFR system manufacturer in India with over 75% market share in this segment (Source: Mordor Intelligence report, as quoted in the DRHP), has submitted its Draft Red Herring Prospectus (DRHP) to the EMERGE Platform of National Stock Exchange of India Limited (NSE Emerge) for a proposed Initial Public Offering of up to 37,40,000 equity shares of face value ₹10 each.

The proposed Offer consists of a Fresh Issue of up to 30,00,000 equity shares and an Offer for Sale of up to 7,40,000 equity shares by the Promoter Selling Shareholders, Mr. Bhaskar J, Mr. S Saravanan, Mr. E Surendra Babu and Mr. B Prabakaran. The proceeds from the Fresh Issue are proposed to be deployed towards meeting working capital requirements of up to ₹2,234.00 lakhs, acquisition of machinery and equipment of up to ₹203.00 lakhs, capital expenditure for the proposed corporate office facade and interior fit-out of up to ₹279.66 lakhs, repayment of certain borrowings of up to ₹998.00 lakhs, and general corporate purposes.

Book Running Lead Manager: GYR Capital Advisors Private Limited
Registrar to the Issue: KFin Technologies Limited

Proposed Listing: EMERGE Platform of National Stock Exchange of India Limited (NSE Emerge)

Issue Structure

• Total Issue Size: Up to 37,40,000 equity shares of face value ₹10 each
• Fresh Issue: Up to 30,00,000 equity shares
• Offer For Sale: Up to 7,40,000 equity shares
• Market Maker Reservation Portion: [●] equity shares
• QIB Portion: Not more than 50% of the Net Offer, of which up to 60% may be allocated to Anchor Investors
• Non-Institutional Investors: Not less than 15% of the Net Offer
• Individual Investors: Not less than 35% of the Net Offer
• Pre-Offer Equity Shares: 1,07,58,737 equity shares, of which the Promoters and Promoter Group hold 92.02%

Key Business Highlights

• Diversified Business Model: PH1 Industries operates across two principal business verticals Alternative Fuel and Raw Material (AFR) Systems and Bulk Material Handling (BMH) Systems, contributing 52.86% and 47.14% of FY2026 revenue, respectively.
• AFR Systems: Comprehensive solutions covering waste pre-processing, co-processing, extraction & conveying, dosing & feeding, drying, fire protection and emission control for both solid and liquid alternative fuels.
• BMH Systems: Integrated bulk material handling solutions including rail unloading, mechanical & pneumatic conveying, flow control, grinding aid injection, blending and dust control.
• Integrated Engineering Capabilities: The Company provides end-to-end engineering solutions covering design, procurement, manufacturing, fabrication, installation, commissioning, and electrical, instrumentation and automation integration, enabling customers to execute multiple project requirements under a single contract.
• Projects Track Record: The Company has completed 80+ commissioned installations across 16 states in India and selected international markets, including Bangladesh, the United Arab Emirates and Mexico.
• Order Book: As of September 15, 2026, the Company had an order book of ₹6,500.44 lakhs, comprising 25 orders.
• Waste-Processing Experience: The Company’s commissioned systems have supported the handling and processing of over 17 million tonnes of liquid and solid waste materials.
• Manufacturing Capabilities: PH1 Industries operates a manufacturing facility at Shamirpet, Medchal–Malkajgiri, Hyderabad, for fabrication, assembly and testing of engineering equipment, with an installed capacity of 1,85,328 hours per annum in FY2026 and capacity utilisation of 87.04%.
• Customer Base: The Company primarily serves the cement industry, which accounted for 99.40% of FY2026 revenue, with additional presence across pharmaceuticals, chemicals, industrial equipment, automation, paper, waste management, recycling, biofuels and renewable energy.

Financial Highlights

*All amounts in ₹ lakhs, except percentages and ratios; figures as per Restated Financial Information.

PH1 Industries’ revenue from operations increased from ₹1,663.45 lakhs in FY2024 to ₹5,649.35 lakhs in FY2026, representing growth of 35.04% in FY2025 and 151.50% in FY2026. During the same period, EBITDA increased from ₹131.45 lakhs to ₹1,238.72 lakhs, while PAT increased from ₹34.35 lakhs to ₹783.10 lakhs. EBITDA margin improved from 7.78% to 21.74%, while PAT margin increased from 2.06% to 13.86%.

About PH1 Industries Limited

PH1 Industries Limited, incorporated in 2015 and based in Hyderabad, Telangana, is a specialised engineering company engaged in the design, engineering, manufacturing, supply, installation and commissioning of Alternative Fuel and Raw Material (AFR) systems and Bulk Material Handling (BMH) solutions, primarily serving the cement industry, with additional presence in the pharmaceutical and chemical sectors. The Company provides integrated solutions covering engineering, procurement, manufacturing, installation, commissioning, electrical, instrumentation and automation, enabling customers to execute multiple project requirements under a single contract.

Disclaimer:

PH1 Industries Limited is proposing, subject to applicable statutory and regulatory requirements, receipt of requisite approvals, market conditions and other considerations, to make an Initial Public Offering of its equity shares and has filed a Draft Red Herring Prospectus dated September 29, 2026 with the EMERGE Platform of National Stock Exchange of India Limited. Investments in equity and equity-related securities involve a degree of risk, and investors should not invest any funds in the Issue unless they can afford to take the risk of losing their entire investment. Investors are advised to read the Draft Red Herring Prospectus carefully, including the section titled “Risk Factors,” before making any investment decision.