Advance Technoforge IPO

Incorporated in 2013, Advance Technoforge is engaged in the manufacturing of forged steel machined components, specialising in closed die forging, upset forging and ring rolling forging. The company manufactures customised and safety-critical components in both rough and precision-machined conditions using carbon steel, alloy steel, stainless steel, bearing steel and other specialized grades of steel.

The company’s products are supplied primarily to original equipment manufacturers (OEMs) across industries such as automotive, general engineering, oil & gas, earth moving equipment, agriculture equipment, power transmission, railways, construction machinery, hydraulic cylinders and material handling equipment. The company believes its capability to manufacture heavy-weight, high-precision components with stringent quality standards creates high entry barriers for new suppliers.

Advance Technoforge operates two manufacturing units located at Veraval (Shapar), Rajkot, Gujarat, spread across an aggregate industrial area of approximately 5,200 sq. metres. It has an installed forging capacity of 6,000 metric tonnes per annum (MTPA) across three production lines and has already installed a fourth 1.5 MT hammer line, which is expected to commence commercial production by the end of FY27, increasing installed capacity to 7,250 MTPA. The facilities are certified under ISO 9001:2015, IATF 16949:2016, PED 2014/68/EU, AD 2000 W0, IBR 1950 and ZED Gold, supported by in-house testing and quality assurance systems.

Exports contributed 28.6% of revenue from operations in FY26, with the company exporting to markets including the USA, Germany and the UK. Gujarat was the largest domestic market, contributing 35.1% of revenue in FY26, followed by Maharashtra at 32.7%. Customer concentration has moderated over the past three years, with the largest customer accounting for 12.3% of revenue in FY26, while the top ten customers contributed 64.3%. On the procurement side, the largest supplier accounted for 22.8% of purchases, while the top ten suppliers contributed 40.1% in FY26.