LCC Projects
Ahmedabad‑based multidisciplinary EPC company focusing on irrigation and water supply projects.
“LCC Projects: momentum beats fundamentals — a trader's IPO, not an investor's.”
- ▸Decent demand 3.01x
- ▸Anchors took 29.1% — confident
- ▸32% revenue CAGR — real growth
- ▸Profit not converting to cash — biggest red flag
- ▸2 forensic red flags in DRHP footnotes
- ▸76.33% fresh capital funds growth
- ⚠ Project execution risk
- ⚠ Dependence on government projects
Educational only. Not investment advice. GMP is unofficial chatter, never a promise.
Demand — who is actually bidding?
Live from NSE's official bid feed. QIB is smart money — if QIB sleeps past Day 2, listing pop usually dies.
Unofficial chatter, tracked daily — direction signal, never a promise.
Issue structure — where does money go?
- ▸Purchase of equipment
- ▸Prepayment and/or repayment of outstanding borrowings
- ▸General corporate purposes
- Promoter 41% → 36.5% after IPO
Deep financials — does profit become cash?
FIGURES VIA PRESS REPORTS — RESTATED FILING PENDING · ROE/DE LAND WITH THE RHP PARSE
| FY | REVENUE | PAT | MARGIN | ROE | ROCE | D/E | CFO |
|---|---|---|---|---|---|---|---|
| FY23 | ₹184.81 Cr | ₹32.1 Cr | 17.4% | — | — | — | ₹0 Cr |
| FY24 | ₹2449.79 Cr | ₹122 Cr | 5.0% | 31.87% | 27.63% | 1.1x | ₹0 Cr |
| FY25 | ₹322.58 Cr | ₹28.13 Cr | 8.7% | — | — | — | ₹0 Cr |
Valuation vs listed peers
| COMPANY | P/E | P/B | ROE |
|---|---|---|---|
| LCC Projects (IPO) | — | — | 8.7% margin |
| Vishnu Prakash R Punglia Limited | 15.72 | — | 16.95% |
| Enviro Infra Engineers Limited | 28.14 | — | 36.43% |
Read it as: peers show what the market already pays for this business model. Full P/E math lands with the RHP parse (needs outstanding share count).
Risk dossier
- 01Project execution risk
- 02Dependence on government projects
Street tape
Documents & filings
Primary sources — the same PDFs our dossier numbers come from.
Questions investors ask about LCC Projects
Should I apply for the LCC Projects IPO for listing gains?
Only if Day-2 QIB crosses 5x — otherwise the listing setup is weak.
Is LCC Projects good for the long term?
Not yet — wait for cheaper re-entry or cleaner quarters.
What is the LCC Projects IPO price band and lot size?
₹139–₹146, lot of 102 shares (min ₹14,892). Open 9 Sept 2026 to 11 Sept 2026.
How do I check LCC Projects IPO allotment status?
On the Kfin Technologies Limited portal: select LCC Projects, enter PAN, application number, or DP/Client ID, solve the captcha. Results go live 6–10 PM on allotment evening (issue closed 11 Sept 2026). BSE's application-status page works as fallback.
When is the LCC Projects listing date?
Tentatively 16 Sept 2026 (T+3 after close).
Who should apply?
- • Listing trader → yes, momentum is real
- • Long-term holder → wait for cheaper re-entry
- • First-time investor → learn by watching, not betting
Listing-day playbook
- • Opens +40%↑ → book half, keep rest at cost stop
- • Opens flat ±5% → hold only if long-term score ≥7
- • Opens discount → never average down Day 1