Absolute Project (India) IPO

Absolute Project (India) Limited works in the Power EPC space — building transmission lines and substations. What sets them apart is that they manufacture their own electrical and structural components in-house. Most competitors buy these parts from outside. This company makes them in their own facility, which gives them direct control over quality and delivery timelines.

Strengths

Their execution track record in Power EPC projects is solid. The current order book stands at around ₹747 Crore, which gives decent revenue visibility for the next couple of years. Operations are spread across 12 states and 3 union territories, and the management team has meaningful experience in this sector. The in-house manufacturing capability is genuinely the standout here — it is not something every EPC company can claim.

Growth

Revenue has grown consistently over the last three years, and the growth has been real, not marginal. Going forward, the company is setting up a new manufacturing facility (Facility II) and upgrading its existing plants. The government is pushing hard on power infrastructure spending, which keeps the order pipeline looking reasonable — and with an already healthy order book, near-term execution pressure is manageable.