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Greenleaf Envirotech specializes in providing EPC and turnkey solutions for Wastewater Treatment (WWT) projects. In addition to it also provides environmental laboratory and consulting services and Fire Safety services. According to a 2022 Frost & Sullivan report, the Indian water and wastewater treatment market will likely reach $2.08billion by 2025 from $1.31 billion in 2020, registering growth at a compound annual growth rate (CAGR) of 9.7 percent.
MHI is implementing the Scheme for ‘Enhancement of Competitiveness in the Indian Capital Goods Sector Phase 2
Demand in the engineering industry segment is driven by investments and capacity creation in core sectors like power, infrastructure developments, mining, oil and other sectors like the general manufacturing sector, automotive and process industries, and consumer goods industry
Strong Policy Support for Engineering sector such as Make in India, Infra projects etc.
| Revenue | ₹32.50 cr | ₹38.85 cr (+19.54%) | |
| PAT | ₹2.27 cr | ₹4.69 cr (+106.61%) | |
| PAT Margin | 6.98 % | 12.07 % (+72.92%) | |
| EBITDA | ₹3.65 cr | ₹6.62 cr (+81.37%) | |
| EBITDA Margin | 11.23 % | 17.04 % (+51.74%) | |
| ROE | 29.44 % | 37.79 % (+28.36%) | |
| ROCE | [●] % | [●] % | |
| D/E | 0.66 | 0.20 (-69.70%) |
Then business operations fo Greenleaf Envirotech Limited can be segregated in 3 three segments:
PE Ratio: 17.17x Average Sector PE Ratio: 13.85x
| NII (HNI) Shares Offered: | 748000 |
| Retail Shares Offered: | 778000 |
| Total Shares Offered: | 1526000 |
| Application | Lot | Shares | Amount |
|---|---|---|---|
| Individual investors (Retail) (Max) | 2 | 2000 | ₹272000 |
| S-HNI (Min) | 3 | 3000 | ₹408000 |
Avg IPO Size (Sector Based):
₹ 30.78 cr.
Average Sector PE Ratio:
13.85 X
Listing Price:
₹ 134.90
Greenleaf Envirotech specializes in providing engineering, procurement, construction (EPC), and turnkey solutions for Wastewater Treatment (WWT) projects, with a particular focus on Sewage Treatment Plants (STPs) and Effluent Treatment Plants (ETPs). Serving both private and public sector clients, its services span the entire WWT project lifecycle, including design engineering, procurement, supply, installation, testing, commissioning, and project management. Additionally, the company offers standalone operations and maintenance (O&M) services, as well as annual maintenance contracts (AMC) for WWT infrastructure.
In support of its environmental initiatives, the company operates a dedicated laboratory and consulting facility in Surat, Gujarat. This laboratory is officially recognized under the Environment (Protection) Act, 1986 and adheres to all relevant regulatory standards. Staffed by a team of qualified professionals—including a quality manager, technical manager, laboratory chemists, microbiologist, and field chemists—the facility conducts comprehensive testing and analysis. It provides environmental testing and reporting services for industrial and infrastructural projects by evaluating key parameters affecting air, water, soil, and noise. These services help clients and regulatory bodies assess compliance, identify environmental risks, and implement corrective measures. The company is also accredited by the Gujarat Pollution Control Board as a Schedule II Environmental Auditor under its environmental audit scheme.
Beyond wastewater and environmental services, the company also offers fire and safety solutions. This includes the supply and refilling of fire extinguishers, along with annual maintenance contracts for fire safety systems in industrial and commercial establishments.
| Company Name | CMP | Face Value | Basic & Diluted EPS | P/E Ratio | RoNW | NAV per Share |
|---|---|---|---|---|---|---|
| Greenleaf Envirotech Ltd | 10 | 10.17 | 37.84 | 26.87 | ||
| Apex Ecotech Limited | 126 | 10 | 7.91 | 15.93 | 18.52 | 35.06 |
| Effwa Infra & Research Limited | 235.15 | 10 | 9.28 | 25.34 | 21.2 | 40.99 |
| Felix Industries Limited | 177.7 | 10 | 3.1 | 57.32 | 10.18 | 65.45 |
(1) The figures for our company are based on Restated Financial Statements for the year ended March 31, 2025.
(2) P/E Ratio has been computed based on their respective closing market price on June 27, 2025, as divided by the Basic EPS as on March 31, 2025.
(3) Restated Profit for the year attributable to equity shareholders divided by Net Worth of our Company.
(4) Net asset value per equity share is calculated as net worth as of the end of relevant year divided by the weighted average number of equities shares outstanding at the end of the year.
(5) Price Earning (P/E) Ratio in relation to the Offer Price of 136 per share.
(6) The Offer Price determined by the Company and the Selling Shareholder in consultation with the Lead Manager is justified by our Company in consultation with the Lead Manager on the basis of the above parameters.
(7) The peer group companies are not exactly comparable in all aspects of business and services that our Company provides.
The face value of our share is ₹10/- per share and the Offer Price is of ₹ 136 per share are 13.6 times of the face value
Source: www.nseindia.com and www.bseindia.com
Smart Horizon Capital Advisors Private Limited, based in Mumbai is the Lead Manager (BRLM) of Greenleaf Envirotech IPO. Smart Horizon Capital Advisors Private Limited has handled (17) SME IPOs till date of which (76%) of the SME IPOs have been listed with listing gains. Read full review of Smart Horizon Capital Advisors Private Limited .
Greenleaf Envirotech IPO may offer opportunites, depending on your investment strategy. For in-depth analysis, risk factors, and KPIs, check our detailed report on Greenleaf Envirotech Financial Review Page
Merchant Banker(s) of Greenleaf Envirotech IPO: Smart Horizon Capital Advisors Private Limited
Greenleaf Envirotech IPO subscription was 3.84 X. IPO subscription refers to applications received in an IPO by each quota, i.e., QIB, Retail, and NII. In some IPOs, Eligible employee quota and shareholder’s quota are also present. Learn more about IPO subscriptions here.
Greenleaf Envirotech IPO listed at a listing price of 134.90 against the offer price of 136.00.
The current market price of Greenleaf Envirotech is 134.00.
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