Nanta Tech Limited

Nanta Tech Limited is engaged in the business of Audio Visual (AV) integration, supply and distribution of AV Products, Service Robots and Software Development related services. They provide comprehensive, end-to-end AV integration solutions which includes system design, integration and management and on-site support. They are offering the customized solution to various sectors such as corporates, education, hospitality and manufacturing industry and others.  In addition to providing AV integration services, the company is actively involved in the direct selling and distribution of a wide range of AV products. These include, but are not limited to indoor and outdoor active LED screens, professional display screens (both touch and non-touch), digital signage displays, digital podiums, video conferencing cameras, processors, media players, speakers, microphones, amplifiers, unified communication (UC) devices as well as mounts, cables, and other related accessories. This segment comprises of procuring AV and networking products from both domestic and international vendors based on the specifications for further sale including sale under the brand 'NANTA'. Further, the company is also engaged in the procurement of service robots from various vendors as per the specifications. Once the required software is installed, the robots are thoroughly tested, branded, marketed, and sold to the end customer under the brand 'ALLBOTIX'. Additionally, the company is also providing software development services whereby their in-house team designs and develops customized software across various domains, including robotics, AI tools, mobile applications, portals, and websites. As per financial performance, Nanta Tech Limited has posted total income / net profits of Rs 9.58 / 0.17 Cr (FY23), Rs 26.59 / Rs 2.59 Cr (FY24), Rs 51.23 Cr / 4.75 Cr (FY25) and Rs 21.54 Cr / 1.93 Cr (upto Q2 FY26). So as per previous financials data, company has shown good growth, but trade receivables are around 40% of FY25 total sales. Company has an average EPS of Rs 11.30 and average RoNW of 35.98% for last three fiscals. Issue is priced at a P/BV of 5.04 as per NAV of Rs 43.62/- as on 30.09.25. If we attribute latest earnings of FY24, FY25 and annualised FY26 on equity post issue, then asking price is at a P/E of around 43.53, 23.72 and 29.19 respectively. As per RHP, comparison between listed peers is shown in above table. On BRLM's front, Smart Horizon Capital Advisors Private Limited is associated with this IPOs, and has handled 17 IPOs in last two fiscal years. From last 10 IPOs, all opened above issue price or at par, on the day of listing. As of now, from last 10 IPOs, four are trading below issue price and remaining all are trading above issue price or at par. (18.12.25 ) As per financials, Nanta Tech Limited has shown good growth, RoNW is 33.66% and P/E is 43.53, 23.72 and 29.19 respectively as per FY24, FY25 and annualised FY26 earnings. So issue looks fully priced, but higher trade receivables raises doubts. Company is engaged in the business of Audio Visual (AV) integration, supply and distribution of AV Products, Service Robots and Software Development related services. BRLM is very new. So, we give NEUTRAL rating for this IPO. Readers must consult a qualified financial advisor prior to making any actual investment decisions.

• 1 Mayank A Jani
• 2 Jani Mansiben Mayankkumar