About SRM Contractors Limited

SRM Contractors Limited is an engineering construction and development company focused on roads (including bridges), tunnels, slope stabilisation works and other civil construction activities, primarily in the Union Territories of Jammu & Kashmir and Ladakh. The company undertakes projects as an EPC contractor and on an item-rate basis, and also takes up sub-contracting assignments for infrastructure works. Incorporated as SRM Contractors Private Limited on September 4, 2008, it was converted to a public limited company following a shareholder resolution on June 30, 2023; a fresh certificate of incorporation reflecting the name “SRM Contractors Limited” was issued on August 11, 2023. The company has two subsidiaries as on the date of the Prospectus.

Geographically, SRM Contractors derives all revenue from operations in Jammu & Kashmir and Ladakh as on December 31, 2023, and in early 2024 it won new slope-related contracts in Uttarakhand, Arunachal Pradesh and Himachal Pradesh, indicating an expansion beyond its traditional base . Over time, the company has developed expertise in executing projects in difficult, hilly terrain, supported by a fleet of modern equipment and experienced teams.

SRM Contractors Limited Milestone 

Key milestones include incorporation in 2008; increase of authorised share capital on March 2, 2023; and conversion to a public limited company on August 11, 2023 . By January 31, 2024, SRM Contractors had completed 38 projects with an aggregate contract value of Rs 1,41,165.62 Lakh, spanning roads, tunnels, slope stabilisation and other civil works .

SRM Contractors Limited’s Business Segments

FY 2023 revenue mix (percentage of revenue from operations):

•   Road Projects: 45.07%
•   Tunnel Projects: 26.05%
•   Slope stabilisation works: 27.94%
•   Other miscellaneous civil construction activity: 0.94%

Geography (as on December 31, 2023): Domestic 100%; International 0% (revenue from operations derived in Jammu & Kashmir and Ladakh).

SRM Contractors Limited Key Management

• Sanjay Mehta, Managing Director
• Puneet Pal Singh, Whole-time Director
• Ashley Mehta, Non-Executive Director
• Krishan Singh, Chief Financial Officer
• Arun Mathur, Company Secretary and Compliance Officer

Latest Updates on SRM Contractors Limited

• Order book: As on January 31, 2024, SRM Contractors’ order book stood at Rs 1,19,931.33 Lakh (including sub-contracting assignments), across 21 ongoing projects. Of these, 11 road projects aggregate to Rs 72,056.00 Lakh, five tunnel projects to Rs 25,821.50 Lakh, four slope stabilisation projects to Rs 20,388.80 Lakh, and one other project to Rs 1,665.64 Lakh.
• Geographic expansion: In January–February 2024, the company was awarded two slope stabilisation contracts in Uttarakhand, one slope rehabilitation contract in Arunachal Pradesh and one slope protection contract in Himachal Pradesh.
• Corporate actions: The company increased its authorised share capital on March 2, 2023 and converted from private to public on August 11, 2023 . A Prospectus dated March 29, 2024 details its public issue plan.