Vinir Engineering Limited - IPO

Incorporated in 1983, Vinir Engineering Limited specializes in integrated engineering solutions, manufacturing critical, precision-forged, and machined components for industries including energy, defence, aerospace, railways, turbines, hydraulics, earthmoving, and high-end engineering applications.

The company components are essential in systems like armoured vehicles, military equipment, oil & and gas, aircraft propulsion, power turbines, railways, nuclear energy, excavation machinery, wind turbines, and hydraulic systems.

The company holds specialized certifications from the American Petroleum Institute and American Bureau of Shipping for aerospace and marine applications. In Fiscal 2024, it supplied components to over 60 customers globally.

The company has an installed capacity of 38,000 MTPA across three independent manufacturing units in Bangalore, Hosur, and Kalukondanapalli. These units cover 38,160 square meters, enhancing operational efficiency and risk management.

The company specializes in producing critical, heavy, precision-forged, and machined components using various metals, including alloy steel, titanium, Hastelloy, carbon steel, stainless steel, duplex steel, Inconel, Monel, and aluminum.

Products and Applications:

• Energy: The company manufactures parts for valve bodies, wellheads, subsea applications, cryogenic systems, and chokes, including components like gate stems, seat rings, adapters, tees, and extended bonnets.
• Defence and Aerospace: The company manufactures parts for armored vehicles, military hardware, armaments, and ammunition, including engines, suspension, turrets, barrels, diffusers, structural parts, swing arms, hubs, and turbine discs.
• Energy Turbines: The company manufactures rotor shafts, gearboxes, low and high-speed drive shafts, hubs, and turbine discs.
• Railways: The company manufactures parts for engines, braking systems, structures, couplings, connecting rods, drawbars, and gears.
• Earthmoving & Hydraulics: The company manufactures parts for engines, structures, couplings, tracks, booms, connecting rods, gears, hydraulic cylinders, and bucket attachments.

As of December 31, 2024, the company had 223 permanent employees and 281 contract labourers.

Competitive Strengths:

• Integrated capabilities to source raw material, design and supply specialized, critical and heavy, precision-forged and machined components
• Quality focused operations with sustainability initiatives
• Barriers to entry for entrants and exit barriers for customers
• Automation driven operating processes
• De-risked business model with wide customer base, diverse industry applications, and multiple factory locations
• Long-standing relationships with customers and suppliers with a track record of repeat orders