Safety Controls & Devices IPO

Safety controls & devices is an EPC (Engineering, Procurement, and Construction) player based in Lucknow, Uttar Pradesh. It works across areas like building power substations, setting up solar plants, installing firefighting systems, and constructing hospitals for the Ministry of Ayush. Initially, the company started as a fire safety equipment and alarm systems provider, but over time it expanded into the power infrastructure space.

The company has successfully completed 19 substation projects so far for both government and private clients. It also has the capability to handle large and complex projects, including substations of up to 400kV AIS level, which puts it among the more capable players in this segment.

In terms of geography, the business is heavily dependent on Uttar Pradesh, which contributed about 98.7% of revenue in FY25, with Bihar making up the small balance. For the period ended January 2026, the entire revenue came from Uttar Pradesh alone. Substations are clearly the main driver, contributing about 91% of revenue in the latest period. The remaining comes from power projects at ~5%, Ayush-related projects at ~3%, and fire protection at ~1%.

The company currently has an order book of around ₹139 crore, largely made up of two key projects. One is a ₹83.5 crore order from TUSCO for a 220kV substation linked to a solar park project in Chitrakoot, Uttar Pradesh. The other is a ₹55.6 crore order from Rail Vikas Nigam Limited for setting up traction substations in the Lucknow railway division.