IPOs where profit grew much faster than revenue before the issue

Profit CAGR over the record is at least 20 points above revenue CAGR, and at least 1.5 times it. Profit can outgrow revenue through better margins, lower costs, other income or one-off items; the study's earnings-quality section says which.

Issues meeting it: 139
Issues with the figures: 280

Issue	Board	Stage	Date	The figures
R.K. Fashion Accessories SME	SME	Upcoming	5 Oct	Profit grew 158% a year against revenue's 51.2%.
A-One Steels India	Mainboard	Listed	1 Oct	Profit grew 80.9% a year against revenue's 4.0%.
S.R.G. Narrow Fab SME	SME	DRHP filed	1 Oct	Profit grew 91.6% a year against revenue's 43.0%.
Kritilabs Technologies SME	SME	DRHP filed	30 Sept	Profit grew 98.3% a year against revenue's 24.2%.
Omara Ventures India SME	SME	Live	30 Sept	Profit grew 449% a year against revenue's 40.6%.
Technomed Devices India SME	SME	DRHP filed	30 Sept	Profit grew 145% a year against revenue's 50.6%.
Carnet Books SME	SME	DRHP filed	30 Sept	Profit grew 110% a year against revenue's 14.8%.
Jaytee Alloys & Components SME	SME	DRHP filed	30 Sept	Profit grew 1,480% a year against revenue's 104%.
ACE Furnaces SME	SME	DRHP filed	30 Sept	Profit grew 68.2% a year against revenue's 11.4%.
Anil Fashions SME	SME	DRHP filed	30 Sept	Profit grew 425% a year against revenue's 84.9%.
Paramount Syntex SME	SME	Live	30 Sept	Profit grew 221% a year against revenue's 14.7%.
Kasliwal Projects SME	SME	DRHP filed	30 Sept	Profit grew 108% a year against revenue's 31.1%.
Momai Art	Mainboard	DRHP filed	30 Sept	Profit grew 159% a year against revenue's 43.8%.
Itwings Infosystem SME	SME	DRHP filed	30 Sept	Profit grew 238% a year against revenue's 107%.
Pes Installations	Mainboard	DRHP filed	30 Sept	Profit grew 31.2% a year against revenue's 6.6%.
Adroit Industries (India)	Mainboard	Listed	30 Sept	Profit grew 34.2% a year against revenue's 6.0%.
Rudra Green Ship Recycling	Mainboard	DRHP filed	30 Sept	Profit grew 53.4% a year against revenue's 6.7%.
Laser Technologies SME	SME	DRHP filed	30 Sept	Profit grew 82.7% a year against revenue's 1.7%.
Abacus Lifestyle Brands SME	SME	DRHP filed	30 Sept	Profit grew 44.6% a year against revenue's 13.6%.
Vishal Nirmiti	Mainboard	Live	30 Sept	Profit grew 169% a year against revenue's 18.1%.
Sarva Foam Industries	Mainboard	DRHP filed	30 Sept	Profit grew 59.9% a year against revenue's 24.9%.
Rathod Jewellery Manufacturing	Mainboard	DRHP filed	30 Sept	Profit grew 73.4% a year against revenue's 39.0%.
Madhavaa Crafts SME	SME	DRHP filed	30 Sept	Profit grew 107% a year against revenue's 51.3%.
Nnt Developers	Mainboard	DRHP filed	30 Sept	Profit grew 51.2% a year against revenue's 24.5%.
Tanvi Exports India	Mainboard	DRHP filed	30 Sept	Profit grew 404% a year against revenue's 188%.
Sabari Construction Technologies SME	SME	DRHP filed	30 Sept	Profit grew 125% a year against revenue's 61.0%.
Suntek Axpress India SME	SME	DRHP filed	30 Sept	Profit grew 69.2% a year against revenue's 7.8%.
Eventions SME	SME	Live	30 Sept	Profit grew 53.3% a year against revenue's 7.3%.
Vans Electroengineerings SME	SME	Closed	29 Sept	Profit grew 1,487% a year against revenue's 197%.
Papadmalji Agro Foods SME	SME	Closed	29 Sept	Profit grew 57.3% a year against revenue's 13.0%.
Pentacle Consultants (I)	Mainboard	DRHP filed	29 Sept	Profit grew 216% a year against revenue's 74.0%.
Sanghvi Housing And Infrastructure	Mainboard	DRHP filed	29 Sept	Profit grew 85.8% a year against revenue's 27.5%.
Pioneer Fabricators	Mainboard	DRHP filed	29 Sept	Profit grew 104% a year against revenue's 50.2%.
Royal Chain	Mainboard	DRHP filed	28 Sept	Profit grew 152% a year against revenue's 41.9%.
Ue Press Tools SME	SME	DRHP filed	27 Sept	Profit grew 60.1% a year against revenue's 18.0%.
S. G. Encon	Mainboard	DRHP filed	26 Sept	Profit grew 57.9% a year against revenue's 10.8%.
Arete 22	Mainboard	DRHP filed	25 Sept	Profit grew 293% a year against revenue's 119%.
Himalayan Solar SME	SME	Closed	25 Sept	Profit grew 104% a year against revenue's 11.0%.
J Infratech	Mainboard	DRHP filed	25 Sept	Profit grew 69.4% a year against revenue's 39.3%.
Skinnovation SME	SME	DRHP filed	25 Sept	Profit grew 60.6% a year against revenue's 23.7%.
Baanganga Gold & Diamond (I)	Mainboard	DRHP filed	25 Sept	Profit grew 113% a year against revenue's 64.0%.
Steelbuild Infra Projects SME	SME	DRHP filed	25 Sept	Profit grew 158% a year against revenue's 46.8%.
Sai Urja Indo Ventures SME	SME	Closed	25 Sept	Profit grew 75.7% a year against revenue's 36.6%.
Deon Energy	Mainboard	DRHP filed	25 Sept	Profit grew 986% a year against revenue's 167%.
Green Asia Impex SME	SME	Closed	24 Sept	Profit grew 53.1% a year against revenue's 10.0%.
Ekkaa Electronics (India)	Mainboard	DRHP filed	24 Sept	Profit grew 487% a year against revenue's 70.7%.
Sai Infinium	Mainboard	DRHP filed	24 Sept	Profit grew 266% a year against revenue's 21.3%.
Kianm Export	Mainboard	DRHP filed	24 Sept	Profit grew 119% a year against revenue's 25.1%.
Access Computech SME	SME	DRHP filed	24 Sept	Profit grew 70.9% a year against revenue's 15.7%.
Roopa Screen SME	SME	Closed	24 Sept	Profit grew 108% a year against revenue's 19.2%.
Pooja Logistics SME	SME	Closed	23 Sept	Profit grew 46.7% a year against revenue's 15.7%.
S. K. Offset SME	SME	Closed	23 Sept	Profit grew 222% a year against revenue's 76.0%.
Jindal Supreme (India)	Mainboard	Listed	23 Sept	Profit grew 518% a year against revenue's 7.6%.
SS Retail	Mainboard	Listed	23 Sept	Profit grew 85.7% a year against revenue's 38.6%.
Mundada Polychem SME	SME	DRHP filed	22 Sept	Profit grew 67.6% a year against revenue's 29.3%.
Himalaya Nutravedics India SME	SME	Closed	22 Sept	Profit grew 317% a year against revenue's 72.8%.
Nexa Defence (I) SME	SME	DRHP filed	22 Sept	Profit grew 156% a year against revenue's 67.7%.
FX Multitech SME	SME	Closed	21 Sept	Profit grew 68.1% a year against revenue's 35.7%.
Sssmehta Industries SME	SME	DRHP filed	21 Sept	Profit grew 77.0% a year against revenue's 0.3%.
Swid Renewables SME	SME	DRHP filed	20 Sept	Profit grew 55.6% a year against revenue's 31.1%.
K.K. Emulsions SME	SME	DRHP filed	18 Sept	Profit grew 68.5% a year against revenue's 20.2%.
Rudra Cottex	Mainboard	DRHP filed	17 Sept	Profit grew 81.6% a year against revenue's 24.6%.
Maharashtra Oil Extractions	Mainboard	DRHP filed	13 Sept	Profit grew 123% a year against revenue's 12.6%.
Maharaja Polyfab SME	SME	DRHP filed	12 Sept	Profit grew 261% a year against revenue's 74.2%.
Marco Secure Solutions SME	SME	DRHP filed	11 Sept	Profit grew 471% a year against revenue's 134%.
Olpad Aqua SME	SME	DRHP filed	11 Sept	Profit grew 243% a year against revenue's 52.6%.
NoPaperForms Solutions	Mainboard	UDRHP filed	4 Sept	Profit grew 1,627% a year against revenue's 28.2%.
Lalsai Global SME	SME	DRHP filed	3 Sept	Profit grew 140% a year against revenue's 27.5%.
Tgtmc Supply Chain SME	SME	DRHP filed	2 Sept	Profit grew 273% a year against revenue's 181%.
Panchratan Steels SME	SME	DRHP filed	31 Aug	Profit grew 84.4% a year against revenue's 10.1%.
Kataria Dhulchand Pannalal Jewellers	Mainboard	DRHP filed	26 Aug	Profit grew 335% a year against revenue's 76.8%.
Aditya Creative Ornaments SME	SME	DRHP filed	25 Aug	Profit grew 124% a year against revenue's 64.3%.
Jay Jagdamba	Mainboard	UDRHP filed	24 Aug	Profit grew 126% a year against revenue's 46.2%.
M P Steel(India)	Mainboard	DRHP filed	21 Aug	Profit grew 98.3% a year against revenue's 7.2%.
Shree Balajee Tapes And Packaging SME	SME	DRHP filed	21 Aug	Profit grew 88.5% a year against revenue's 32.3%.
Avtar Steel	Mainboard	DRHP filed	14 Aug	Profit grew 70.3% a year against revenue's 7.0%.
Encube Ethicals	Mainboard	DRHP filed	1 Aug	Profit grew 67.3% a year against revenue's 30.5%.
Arjun Jewellers	Mainboard	DRHP filed	1 Aug	Profit grew 110% a year against revenue's 45.7%.
Bench Mark Infotech Services SME	SME	DRHP filed	31 Jul	Profit grew 163% a year against revenue's 33.2%.
Beauty Garage	Mainboard	DRHP filed	28 Jul	Profit grew 89.3% a year against revenue's 37.8%.
Master Chains N Jewels	Mainboard	DRHP filed	25 Jul	Profit grew 110% a year against revenue's 14.9%.
Robokidz Eduventures SME	SME	DRHP filed	24 Jul	Profit grew 104% a year against revenue's 56.3%.
Tmc Transformers India	Mainboard	DRHP filed	30 Jun	Profit grew 152% a year against revenue's 29.8%.
Renfra Energy India	Mainboard	DRHP filed	30 Jun	Profit grew 106% a year against revenue's 50.6%.
Functional & Innovative Foods	Mainboard	DRHP filed	30 Jun	Profit grew 168% a year against revenue's 50.2%.
Pushp Brand (India)	Mainboard	DRHP filed	26 May	Profit grew 33.0% a year against revenue's 10.0%.
Matangi Rubber	Mainboard	DRHP filed	25 May	Profit grew 170% a year against revenue's 8.4%.
Gaurik Fashions	Mainboard	DRHP filed	10 May	Profit grew 494% a year against revenue's 95.0%.
Online Instruments (India)	Mainboard	DRHP filed	8 May	Profit grew 50.9% a year against revenue's 27.7%.
Playsimple Games	Mainboard	DRHP filed	23 Apr	Profit grew 391% a year against revenue's 10.9%.
Sadbhav Futuretech	Mainboard	DRHP filed	31 Mar	Profit grew 503% a year against revenue's 103%.
T.C. Terrytex	Mainboard	DRHP filed	30 Mar	Profit grew 37.2% a year against revenue's 11.3%.
Absolute Projects (India)	Mainboard	DRHP filed	30 Mar	Profit grew 169% a year against revenue's 47.5%.
Gujarat Victory Forgings	Mainboard	DRHP filed	30 Mar	Profit grew 82.9% a year against revenue's 5.6%.
Sathya Agencies	Mainboard	DRHP filed	30 Mar	Profit grew 62.3% a year against revenue's 35.8%.
Monomark Engineering (India)	Mainboard	DRHP filed	30 Mar	Profit grew 85.6% a year against revenue's 22.7%.
Expression 360 Services India	Mainboard	DRHP filed	30 Mar	Profit grew 89.6% a year against revenue's 55.8%.
Kay Jay Forgings	Mainboard	DRHP filed	30 Mar	Profit grew 44.9% a year against revenue's 11.6%.
Cosmic Pv Power	Mainboard	DRHP filed	30 Mar	Profit grew 265% a year against revenue's 126%.
Intellius Recode	Mainboard	DRHP filed	27 Mar	Profit grew 40.6% a year against revenue's 0.9%.
Laxyo	Mainboard	DRHP filed	23 Mar	Profit grew 53.8% a year against revenue's 25.6%.
Rkb Global	Mainboard	DRHP filed	20 Mar	Profit grew 43.7% a year against revenue's 6.9%.
Trenzet Infra	Mainboard	DRHP filed	20 Mar	Profit grew 45.2% a year against revenue's 11.2%.
Polite Powertech	Mainboard	DRHP filed	18 Mar	Profit grew 1,447% a year against revenue's 531%.
Sunil Gold India	Mainboard	DRHP filed	7 Mar	Profit grew 189% a year against revenue's 46.8%.
Rodec Pharma	Mainboard	DRHP filed	11 Jan	Profit grew 87.2% a year against revenue's 21.9%.
Hindustan Laboratories	Mainboard	DRHP filed	3 Jan	Profit grew 36.2% a year against revenue's 12.9%.
Mehta Hitech Industries	Mainboard	DRHP filed	30 Dec	Profit grew 126% a year against revenue's 28.8%.
G. Surgiwear	Mainboard	DRHP filed	30 Dec	Profit grew 107% a year against revenue's 21.8%.
Krishna Buildspace	Mainboard	DRHP filed	30 Dec	Profit grew 42.0% a year against revenue's 5.5%.
Neolite Zkw Lightings	Mainboard	DRHP filed	29 Dec	Profit grew 84.1% a year against revenue's 12.4%.
Wog Technologies	Mainboard	DRHP filed	28 Dec	Profit grew 500% a year against revenue's 63.7%.
Yatayat Corporation India	Mainboard	DRHP filed	23 Dec	Profit grew 117% a year against revenue's 29.1%.
Crystal Crop Protection	Mainboard	DRHP filed	17 Dec	Profit grew 24.3% a year against revenue's 3.5%.
Shivganga Drillers	Mainboard	DRHP filed	12 Dec	Profit grew 299% a year against revenue's 143%.
Integris Medtech	Mainboard	DRHP filed	9 Oct	Profit grew 55.5% a year against revenue's 18.8%.
Oswal Cables	Mainboard	DRHP filed	1 Oct	Profit grew 63.1% a year against revenue's 37.2%.
Pride Hotels	Mainboard	DRHP filed	30 Sept	Profit grew 48.9% a year against revenue's 11.4%.
Learnfluence Education	Mainboard	DRHP filed	29 Sept	Profit grew 271% a year against revenue's 98.6%.
Virupaksha Organics	Mainboard	DRHP filed	29 Sept	Profit grew 35.2% a year against revenue's 12.2%.
Premier Industrial Corporation	Mainboard	DRHP filed	29 Sept	Profit grew 101% a year against revenue's 13.4%.
Grand Housing	Mainboard	DRHP filed	29 Sept	Profit grew 65.4% a year against revenue's 28.7%.
Bonbloc Technologies	Mainboard	DRHP filed	28 Sept	Profit grew 299% a year against revenue's 128%.
Associated Power Structures	Mainboard	DRHP filed	27 Sept	Profit grew 247% a year against revenue's 70.9%.
Dhariwal Buildtech	Mainboard	DRHP filed	27 Sept	Profit grew 57.9% a year against revenue's 36.5%.
Rotomag Enertec	Mainboard	DRHP filed	26 Sept	Profit grew 73.8% a year against revenue's 34.0%.
Aarvee Engineering Consultants	Mainboard	DRHP filed	25 Sept	Profit grew 68.9% a year against revenue's 13.8%.
Cotec Healthcare	Mainboard	DRHP filed	10 Sept	Profit grew 99.4% a year against revenue's 52.7%.
Eldorado Agritech	Mainboard	DRHP filed	3 Sept	Profit grew 56.5% a year against revenue's 27.9%.
Ukb Electronics	Mainboard	DRHP filed	1 Sept	Profit grew 54.9% a year against revenue's 21.9%.
Transline Technologies	Mainboard	DRHP filed	7 Aug	Profit grew 121% a year against revenue's 80.4%.
Bls Polymers	Mainboard	DRHP filed	7 Aug	Profit grew 83.9% a year against revenue's 2.2%.
Sahajanand Medical Technologies	Mainboard	DRHP filed	6 Aug	Profit grew 45.2% a year against revenue's 13.5%.
Steel Infra Solutions Company	Mainboard	DRHP filed	29 Jul	Profit grew 37.1% a year against revenue's 11.5%.
Oswal Energies	Mainboard	DRHP filed	19 Jul	Profit grew 251% a year against revenue's 60.2%.
Allied Engineering Works	Mainboard	DRHP filed	5 Jul	Profit grew 1,074% a year against revenue's 110%.
Ratnadeep Retail	Mainboard	DRHP filed	1 Jul	Profit grew 52.2% a year against revenue's 15.0%.
Sillverton Industries	Mainboard	Lapsed	28 Jun	Profit grew 70.7% a year against revenue's 19.2%.
Rayzon Solar	Mainboard	Lapsed	26 Jun	Profit grew 295% a year against revenue's 121%.

Newest first; the order is by date and nothing else. Each issue's study sets out the figures in full with their sources. All 13 checks