Robokidz Eduventures IPO
IPO price, dates, subscription, financial performance, strengths, risks and offer details
₹2,40,000 / 2,400 shares
Bidding Dates21 Sept, 26 – 23 Sept, 26
Min Investment₹2,40,000
Lot Size1,200
Price Range₹100 – ₹106
Issue Size₹31.09 Cr.
IPO Timeline
IPO Offer Start21 Sept, 26
IPO Offer Ends23 Sept, 26
Allotment Finalisation24 Sept, 26
Refund Initiation25 Sept, 26
Listing of Shares28 Sept, 26
Strengths
Integrated education solutionsThe company offers a bundled range of services covering laboratory creation, curriculum planning, training and academic support through one provider. This approach can reduce the need to coordinate multiple vendors while supporting consistency in delivery, quality and implementation schedules.
Structured project executionRobokidz uses organized project management practices, experienced teams and standardized processes to plan and deliver projects across different locations. Its capabilities include procurement, inventory handling, logistics and on-site deployment.
Established AI, Robotics and STEM expertiseThe company has a track record in designing, supplying, installing and implementing technology-enabled educational laboratories. Educational Laboratory Setup Projects remained its largest revenue contributor over the past three fiscals, with revenue increasing from ₹3,816.59 Lakhs in FY2024 to ₹9,322.31 Lakhs in FY2026.
Wider geographic footprintThe company has operations across 27 states. Maharashtra's contribution to revenue reduced from 89.86% in FY2024 to 53.04% in FY2026, while Delhi, Kerala and Gujarat contributed 19.99%, 6.77% and 5.27% respectively, indicating broader geographic diversification.
Risks
Working capital and liquidity pressureNet working capital increased from ₹1,254.74 lakhs in FY2024 to ₹3,148.58 lakhs in FY2026. Borrowings for working capital reached ₹2,293.23 lakhs in FY2026, while operating cash flow remained negative in all three years at ₹(364.47) lakhs, ₹(209.81) lakhs and ₹(509.61) lakhs respectively.
Customer concentrationThe largest customer represented 55.30% of revenue in FY2025 and 21.11% in FY2026. The five largest customers accounted for 85.55% and 63.25% respectively. The absence of binding long-term customer contracts increases exposure to order reductions or customer attrition.
Supplier concentrationThe largest supplier accounted for 86.72% of total purchases in FY2025 and 45.16% in FY2026. The five largest suppliers represented as much as 95.30% of purchases. Without long-term supplier agreements, disruptions at key suppliers could affect operations and revenue.
Maharashtra revenue concentrationMaharashtra accounted for 89.86% of revenue in FY2024, 87.28% in FY2025 and 53.04% in FY2026. Regulatory changes, economic weakness or regional disruptions in the state could therefore have a material impact on financial performance.
Dependence on education partnersThe company relies on schools, educational institutions and channel partners for student enrolments, but these relationships are not supported by formal written agreements or MOUs. Changes in academic priorities or movement toward competing providers could affect enrolments and revenue.
Historical regulatory non-compliancesThe company has disclosed various historical matters under the Companies Act, 2013, including issues involving Non-Convertible Debenture issuance during FY2019-21, statutory filings and clerical errors in forms filed between 2017 and 2025. Compounding and adjudication matters are pending before the Registrar of Companies, Pune.
Academic seasonalityThe business is affected by academic cycles, with the fourth quarter contributing a substantial portion of FY2026 revenue. Q4 revenue was ₹6,112.98 lakhs out of total FY2026 revenue of ₹9,322.31 lakhs, creating greater cash flow and performance sensitivity during peak periods.
Uncertainty around high growth ratesRevenue increased approximately 58.67% from ₹5,875.28 lakhs in FY2025 to ₹9,322.31 lakhs in FY2026, while PAT rose around 102.02% to ₹1,005.69 lakhs. Future growth may depend on market conditions, customer retention and competitive factors.
Dependence on key personnelThe business relies substantially on its internal Design, Development and Execution team. Loss of key employees could affect project timelines and service quality. The company has also disclosed that Managing Director and Promoter Sagar Lalit Sanghvi was disqualified under Section 164(2) from November 2016 to October 2021 and was appointed as a director in October 2020 during that period.
Technology platform dependencyThe company depends on its proprietary Drag-on.AI platform and learning management system for content delivery, assessments and programme administration. Technical failures, cyber incidents or inadequate upgrades could interrupt services and affect customer relationships and competitiveness.
Objectives
A portion of the Net Proceeds is proposed to finance working capital requirements for FY2026-27, including inventory, trade receivables and short-term advances needed to support ongoing operations and expansion.
Part of the Net Proceeds is intended for repayment or prepayment of selected secured and unsecured borrowings, including term loans obtained from banks and financial institutions.
The company plans to use a portion of the Net Proceeds for general corporate purposes, subject to the applicable ceiling based on a specified percentage of the gross issue proceeds or a fixed lakhs amount, whichever is lower.
Yearly Financial Results
Consolidated
| Annual Financials | Mar 2026 |
|---|---|
| Revenue | 93.22 |
| Expenses | 80.08 |
| Other Income | 0.49 |
| Total Revenue | 93.72 |
| Profit Before Tax | 13.63 |
| Net Profit | 10.06 |
Above figures are in Rs. Crores
Balance Sheet
Consolidated
| Balance Sheet | Mar 2026 |
|---|---|
| Total Assets | 95.22 |
| Current Assets | 87.67 |
| Fixed Assets | 7.55 |
| Total Equity & Liabilities | 95.22 |
| Total Liabilities | 70.21 |
| Current Liabilities | 69.64 |
| Non Current Liabilities | 0.57 |
| Total Equity | 25.02 |
Above figures are in Rs. Crores
Cash Flow
Consolidated
| Cash Flow | Mar 2026 |
|---|---|
| Net Cash Flow | 0.01 |
| Investing Activities | -0.12 |
| Operating Activities | -5.10 |
| Financing Activities | 5.23 |
Above figures are in Rs. Crores
About Robokidz Eduventures
Robokidz Eduventures Limited was incorporated in December 2014 and is headquartered in Pune, Maharashtra. The company provides technology-enabled learning and skill development programmes for K-12 students covering Robotics, Artificial Intelligence, Coding, Electronics and STEM. Its two principal business verticals include Educational Laboratory Setup Projects, involving the design, supply and installation of technology-enabled laboratories, and related learning solutions.
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