Fabtech CleanroomsShare price, financial results, shareholding and management
- Market cap
- ₹448 cr
- Stock P/E
- 27.1peers 37.5
- Book value
- ₹83.6
- Price to book
- 4.35
- EV / operating profit
- -
- Market cap to sales
- 2.04
- ROCE · FY26
- 20.4%
- ROE · FY26
- 16.8%
- ROE, 3-year average
- 15.2%
- Operating margin · FY26
- 9.8%peers 15.0%
- Sales growth, 3 years
- 20.6%
- Profit growth, 3 years
- 27.4%
- Debt to equity
- 0.18peers 0.30
- Borrowings
- ₹19 cr
- Interest cover
- 15.5×
- Cash from business / op. profit
- -79%
- Debtor days
- 146
- Pledged
- 0.00%
- Promoter holding
- 68.51%
- Change in promoter holding
- 0.00 pts
- Shareholders
- 718
- 52-week high / low
- ₹575 / ₹203
- Dividend yield
- 0.00%
- Face value
- ₹10
Tap or hover on any figure for what it means. Our arithmetic on reported figures, at the latest close.
Fabtech Cleanrooms share price chart
Close on 6 Nov 2026 · -3.12% on the day · Vol 4,000
Daily prices to 6 Nov 2026, adjusted for splits and bonuses. Closing prices only: check the exchange for the live price.
Share price returns
To the close of 6 Nov 2026
- 1 month
- -25.5%
- 3 months
- -5.6%
- 6 months
- +22.0%
- 1 year
- +7.9%
- Traded a day, 20 days
- ₹0.79 cr
Business growth
Sales and net profit, from the reported results
| Sales | Profit | |
|---|---|---|
| FY26 on FY25 | +46% | +36% |
| 3 years, a year | +21% | +27% |
| Latest half, H2 FY26 | +62% | +81% |
About Fabtech Cleanrooms: business, products and customers
Fabtech Cleanrooms builds dust free rooms for factories: it makes the wall and ceiling panels, doors and fittings, and through its group companies adds the air conditioning that keeps the air clean. Its customers are drug makers and, more and more, solar, data centre and chip plants. Its shares trade on BSE SME.
Fabtech Cleanrooms designs, makes and installs modular cleanroom panels, doors, view windows, ceiling systems and flooring at its plant in Umbergaon, Gujarat, and has set up a second plant near Hyderabad. Through Kelvin, a subsidiary of which it owns about three fifths, it also supplies complete heating, ventilation and air conditioning systems; it holds minority stakes in Advantek, which makes air handling units, and AART, which designs ceiling grid systems for chip and solar plants.
It earns money project by project: it wins an order, makes the panels, installs them and bills as the work moves, with part of the money held back by the customer as retention until the job is done. So revenue and profit follow when large projects are delivered, the second half of the year has usually been the stronger one, and money gets locked up in customer dues; the chairman said on the May 2026 call that debt and working capital would rise this year. Consolidating Kelvin from FY26 means the group figures now include air conditioning work, which is why group sales rose far faster than the company's own.
Read more about the business
Drug and biotech plants have been the core for decades, and the company has added solar makers such as Waaree, Vikram Solar, Saatvik and Gopin, data centres such as Nxtra and CtrlS, and chip plants such as Kaynes Semiconductor and CG Semi. The offer document says no listed company in India does the same work at a comparable size; Fabtech Technologies, a main board listed company in which the promoters also have interests, is presented as the group's internationally focused life sciences arm.
What is new: the company chose to take new sector orders at tighter margins to build references, including its largest solar project of about ₹68 cr, due to be commissioned in July 2026. It also set up a subsidiary in the UAE to source panels from China and a door making joint venture, Fabtech Fortline, at Umbergaon.
From the offer document (red herring prospectus), the annual report for FY26, the June 2026 investor presentation and the May 2026 earnings call.
Read the deeper study ↓In its favour
- Sales have grown fast: 21% a year over three years.
- It earns a high return on the money it uses: ROCE 20% in FY26.
- It has little debt for its size: debt to equity 0.18.
- The promoters own a large part of the company: 68.51%.
To watch
- Commissioning of the largest solar project, about ₹68 cr, set for July 2026 (Earnings call, May 2026, p.5 and p.7).
- Execution of the ₹354.7 cr order book, which the chairman expects by around September or October 2026 (Investor presentation, June 2026, p.14; Earnings call, May 2026, p.12).
- The stake in Kelvin rising to 70 to 72%, as the chairman said (Earnings call, May 2026, p.11).
- Debt and working capital through FY27, which the chairman said would rise before retention money comes back (Earnings call, May 2026, p.13).
- Its borrowings rose a lot last year: ₹19 cr, from ₹1 cr.
From the company's documents first, then the reported figures read by fixed rules, the same for every company. Facts, not a view on the shares.
Fabtech Cleanrooms revenue and profit growth
Half-yearly results · Profit and lossSales have grown fast. Last year profit grew more slowly than sales, so the profit kept from each rupee of sales slipped.
SME companies report every six months. In the latest half, sales were higher than in the same half a year before. Profit grew faster than sales.
Fabtech Cleanrooms half-yearly results
SME companies report every six months · ₹ crore
| H2FY24 | H1FY25 | H2FY25 | H1FY26 | H2FY26 | |
|---|---|---|---|---|---|
| Sales | 58 | 62 | 88.10 | 76.19 | 143.14 |
| Expenses | 50 | 55 | 79.31 | 71.33 | 126.14 |
| Operating profit | 7 | 7 | 8.79 | 4.86 | 17 |
| OPM | 13.0% | 12.0% | 10.0% | 6.4% | 12.0% |
| Interest | 0 | 0 | 0.20 | 0.17 | 1 |
| Depreciation | 0 | 0 | 0.32 | 0.38 | 1 |
| Profit before tax | 7 | 7 | 8.84 | 5.33 | 15.35 |
| Net profit | 5 | 5 | 7.02 | 3.81 | 12.73 |
Fabtech Cleanrooms profit and loss
Full years to March, FY20 to FY26 · ₹ crore, consolidated where reported
| FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|
| Sales | 89 | 70 | 114 | 125 | 97 | 150.03 | 219.32 |
| Expenses | 83 | 69 | 107 | 112 | 89 | 133.99 | 197.84 |
| Operating profit | 6 | 1 | 6 | 13 | 9 | 16.04 | 21.48 |
| OPM | 7.0% | 2.1% | 5.0% | 10.0% | 9.0% | 10.7% | 9.8% |
| Other income | 1 | 0 | 0 | 0 | 1 | 0.87 | 2.40 |
| Interest | 1 | 0 | 1 | 1 | 1 | 0.40 | 1.43 |
| Depreciation | 1 | 1 | 1 | 1 | 0 | 0.62 | 1.78 |
| Exceptional and other items | 1 | 1 | 1 | 1 | -1 | · | · |
| Profit before tax | 6 | 1 | 5 | 12 | 8 | 15.89 | 20.68 |
| Tax rate | 33.3% | 0.0% | 20.0% | 33.3% | 25.0% | 23.5% | 20.0% |
| Net profit | 4 | 1 | 4 | 8 | 6 | 12.15 | 16.54 |
| EPS ₹ | 1,333 | 250 | 12.92 | 28.57 | 20.75 | 13.64 | 12.84 |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 19.0% | 0.0% |
The years to FY24 come rounded to the nearest crore in the source.
Exceptional and other items: profit before tax beyond operating profit, other income, interest and depreciation, such as one-off items or a share of associates' profit, as reported.
Earnings per share before FY22 is on the share count of that time, before later bonus or share issues, so it does not compare with the years after.
Fabtech Cleanrooms profitability
Margins and returns on capitalLast year the company kept about as much from each rupee of sales as the year before. It earns a high return on the money it uses.
Operating margin, every year
Per cent of sales kept before interest, depreciation and tax
| FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|
| Operating margin | 7.0% | 2.1% | 5.0% | 10.0% | 9.0% | 10.7% | 9.8% |
| Tax rate | 33.3% | 0.0% | 20.0% | 33.3% | 25.0% | 23.5% | 20.0% |
| ROCE | · | 2.5% | 14.1% | 26.5% | 16.4% | 21.3% | 20.4% |
| ROE | · | 3.2% | 11.4% | 19.0% | 12.2% | 16.6% | 16.8% |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 19.0% | 0.0% |
Fabtech Cleanrooms debt and cash flow
Balance sheet · Cash flow · Working capitalThe company's own money, its net worth, has grown. It borrowed much more last year. Its loans are smaller than its own money. Last year the business used more cash than it brought in. Customers pay faster than they did in FY24, which frees up the company's money.
Bars below the line are cash going out.
Fabtech Cleanrooms balance sheet
At each 31 March · ₹ crore
| FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|
| Equity capital | 0.03 | 0.03 | 3 | 3 | 3 | 12 | 12 |
| Reserves | 31 | 32 | 35 | 43 | 49 | 82 | 91 |
| Net worth | 31.03 | 32.03 | 38 | 46 | 52 | 94 | 103 |
| Borrowings | 10 | 7 | 8 | 6 | 6 | 1 | 19 |
| Other liabilities | 25.97 | 29.97 | 36 | 29 | 31 | 29 | 64 |
| Total liabilities | 67 | 69 | 82 | 81 | 89 | 124 | 186 |
| Fixed assets | 4 | 5 | 4 | 4 | 5 | 4 | 8 |
| Capital work in progress | 0 | 0 | 0 | 0 | 0 | 0 | 1 |
| Investments | 0 | 0 | 0 | 0 | 1 | 27 | 10 |
| Other assets | 63 | 64 | 78 | 77 | 83 | 93 | 167 |
Fabtech Cleanrooms cash flow
₹ crore
| FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|
| Cash from operations | -9 | 4 | 3 | 8 | 3 | 3 | -17 |
| Cash from investing | 2 | -1 | -4 | -3 | -2 | -26 | 1 |
| Cash from financing | 7 | -3 | 1 | -4 | -1 | 24 | 14 |
| Net cash flow | 0 | 0 | 0 | 1 | 0 | 1 | -2 |
Working capital
Days
| FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|---|---|
| Debtor days | 181 | 221 | 165 | 144 | 193 | 129 | 146 |
| Inventory days | 63 | 95 | 63 | 57 | 88 | 67 | 81 |
| Days payable | 114 | 146 | 105 | 82 | 122 | 74 | 85 |
| Cash conversion cycle | 130 | 170 | 123 | 119 | 159 | 122 | 142 |
| Working capital days | 112 | 144 | 92 | 95 | 140 | 124 | 111 |
Fabtech Cleanrooms peers and competitors
Listed SME companies in the same industryBy sales, Fabtech Cleanrooms is number 7 of the 55 listed SME companies in industrial manufacturing.
Each company's latest full year and its latest close; companies the exchange puts in the same industry, whose businesses can differ a good deal. A list, not a comparison of their shares.
| Company | Market cap ₹ cr | P/E | Sales ₹ cr | Profit ₹ cr | Op. margin | Debt/equity |
|---|---|---|---|---|---|---|
| Innovators Facade Systems | 207 | 14.8 | 228 | 14 | 13.0% | 0.26 |
| Fabtech Cleanrooms | 448 | 27.1 | 219 | 16.5 | 9.8% | 0.18 |
| Concord Control Systems | 2,464 | 60.1 | 210 | 41 | 28.0% | 0.26 |
| BEW Engineering | 66 | 17.5 | 186 | 3.8 | 5.2% | 0.44 |
| Patil Automation | 810 | 42.6 | 167 | 19 | 15.0% | 0.15 |
| Adisoft Technologies | 493 | 21.5 | 166 | 22.9 | 18.0% | 0.30 |
| Energy Mission Machineries (India) | 135 | 11.3 | 161 | 11.9 | 14.0% | 0.31 |
| Merritronix | 796 | 49.8 | 156 | 16 | 17.0% | 0.81 |
| Prizor Viztech | 1,421 | 67.7 | 153 | 21 | 22.0% | 0.57 |
| Kalyani Cast-Tech | 837 | 49.2 | 150 | 17 | 15.0% | 0.01 |
| Purple Wave Infocom | 421 | 32.4 | 146 | 13 | 14.0% | 0.30 |
| Median of the 10 others | 645 | 37.5 | 164 | 16.5 | 15.0% | 0.30 |
Fabtech Cleanrooms shareholding pattern
Promoters, FIIs, DIIs, HNIs and small holdersThe promoters own more than half the company. Foreign and Indian funds own a noticeable share. The number of shareholders has grown a lot.
Fabtech Cleanrooms shareholding pattern
Per cent of shares, from the patterns filed with the exchange. Tap + to see everyone holding 1% or more in that group. HNIs and small holders show only where the pattern was filed in full.
| Mar 25 | Sep 25 | Mar 26 | Jun 26 | Sep 26 | |
|---|---|---|---|---|---|
| Promoters | 68.41% | 68.49% | 68.49% | 68.51% | 68.51% |
| Foreign investors (FIIs) | 0.69% | 0.00% | 0.00% | - | 0.00% |
| Indian institutions (DIIs) | 11.24% | 8.97% | 5.65% | - | 6.42% |
| Number of shareholders | 349 | 698 | 737 | 718 | 718 |
Fabtech Cleanrooms study: the business from its own documents
Read from 11 of the company's own documentsFabtech Cleanrooms so far
From the company's own record
- 10 Oct 2026Order worth ₹7.22 cr
- 30 Sept 2026Promoters at 68.51%
- 23 Sept 2026Highest close since listing, ₹547.50
Fabtech Cleanrooms key facts from the filings
Each figure with the document it comes from
- Order book
- ₹354.7 cr
- Group orders in hand at 31 May 2026, well above the year's sales.Investor presentation, June 2026, p.14
- Solar share of orders
- ₹184.4 cr
- About half the order book is renewable energy work; pharma is ₹135.2 cr and data centres ₹27.2 cr.Investor presentation, June 2026, p.14; our arithmetic
- Order position a year apart
- ₹42 cr → ₹140.9 cr
- From 31 March 2025 to 31 March 2026, as the chairman reported.Annual report FY26, p.6
- Own sales against group sales
- +1.9% against +46.2%
- FY26 operating income of the company alone against the group with Kelvin; the company's own profit fell 24.8%.Annual report FY26, p.10
- Kelvin stake
- About 60.5%
- The air conditioning subsidiary that brought data centre and industrial work; the chairman wants to take it to 70 to 72%.Earnings call, May 2026, p.4 and p.11
Show 5 more facts
- Advantek and AART stakes
- 34.99% and 28%
- Air handling units and ceiling grid design for chip and solar plants; AART's sales went from ₹14 cr to ₹34 cr in FY26.Investor presentation, June 2026, p.7; Earnings call, May 2026, p.7
- Largest solar project
- About ₹68 cr
- Taken at a tighter margin to build a reference; commissioning moved to July 2026.Earnings call, May 2026, p.5 and p.7
- Top ten customers
- 54.3% of revenue
- In FY24, with the largest giving 19.3%; projects make each year's list different.Offer document, p.141
- Umbergaon panel capacity
- 3,45,000 sq ft a year
- 48.2% was used in FY24, down from 76.5% in FY22.Offer document, p.151
- One off charges in FY26
- About ₹1.8 cr
- A debtor write off of about ₹0.84 cr under an NCLT order and about ₹1 cr from merging Altair into Advantek.Earnings call, May 2026, p.5; our arithmetic
What the company said, and what happened
The company's own statements, attributed, set against what it later reported; not newboard's estimates
The company says its order book stood at about ₹354.7 cr on 31 May 2026, and the chairman said on the May 2026 call that orders in hand would be executed by around September or October, with the largest solar project to be commissioned in July. The chairman spoke of growth of 20 to 30 to 40 percent for FY27 as a conservative range, said the stake in Kelvin would be raised to 70 to 72%, and warned that debt and working capital would rise during the year before retention money comes back. The company also points to a pipeline of about ₹480 cr and to growing its Hyderabad and door making capacity.
| What management said | When | What happened |
|---|---|---|
| Growth of 25 to 30% in FY26 | Restated on the May 2026 call | Group operating income up 46.2%, the company's own up 1.9% |
Is it a good business? Six questions
Each answer is about that one question, read from the documents; tap one for the evidence. Not a view on the shares.
Fabtech Cleanrooms earns its money on cleanroom projects, making the panels itself and adding air conditioning through its group companies, and it now wins work well beyond drug plants.
Its weak spots are tighter margins on new sector orders, a few large customers and projects at any time, and money tied up until each project is finished.
WatchCan it set its own prices?It took solar, data centre and chip orders at thinner margins to get its name in, and had to ask customers for price revisions when material costs jumped.
AverageHow strong is it against rivals?Few Indian firms can deliver panels, air conditioning and air handling together, but foreign companies are strong in chip plant work.
WatchWho are its customers?A handful of large projects make up much of each year's sales, and the order book now leans towards solar factories.
WatchDoes it need a lot of money?The plants need little money, but each project ties up cash in customer dues and retention until it is handed over.
StrongCan it keep finding new work?Orders have grown quickly as solar, data centre and chip plants come to it alongside drug makers.
WatchDo good and bad years swing a lot?Sales and plant use rise and fall with when big projects land, and one half of the year can look very different from the other.
Who runs Fabtech Cleanrooms?
Promoters, directors and officers; tap a name for the background
AAAasif Ahsan KhanPromoter, Chairman and Non-Executive Director · holds 40.91%
Attended the diploma course in mechanical engineering of the Board of Technical Examination, Maharashtra. Over three decades in cleanrooms and biopharmaceutical engineering; a shareholder and promoter since 2021 who leads strategy. Received a certificate of appreciation from the Saudi Industrial Development Fund for training work in the pharmaceutical industry.
Offer document, p.166 and p.168; Annual report FY26, p.70AAAarif Ahsan KhanPromoter · holds 10.13%
Promoter and director of Fabtech Technologies International from August 2001 to March 2022, overseeing production and factory work. Holds interests in several building and realty firms listed in the offer document.
Offer document, p.182; Annual report FY26, p.70HMHemant Mohan AnavkarPromoter · holds 8.45%
Attended the diploma course in mechanical engineering of the Board of Technical Examinations, Maharashtra. Whole-time director of the sister company Fabtech Technologies Limited.
Offer document, p.182; Annual report FY26, p.70MHManisha Hemant AnavkarPromoter · holds 8.43%
Administrative head of the sister company Fabtech Technologies Limited since April 2021, overseeing its administration.
Offer document, p.183; Annual report FY26, p.70AAAmjad Adam ArbaniExecutive Director
Higher secondary certificate from Bhavan's College, Mumbai (1993). With the company since April 2021 overseeing finance, executive director since 13 June 2024, looking after banking relations and legal affairs; chief financial officer until 31 July 2025.
Offer document, p.168; Annual report FY26, p.33CHChirag Himatlal DoshiNon-Executive Director
Chartered accountant; worked at Lovelock & Lewes (2004 to 2007) and Siemens Corporate Finance (2007 to 2009); partner in a financial advisory firm and a director of Fabtech Technologies Limited.
Offer document, p.167 and p.168RDRupal Dhiren HariaIndependent Director
Commerce graduate from the University of Mumbai and a fellow member of the Institute of Chartered Accountants of India since 1999; partner in Atul C Bheda and Company.
Offer document, p.169SNShyam Nagorao KhanteIndependent Director
Master's degree in pharmacy and a diploma in business management from Nagpur University; professor at Poona College of Pharmacy and president of RedLotus Pharmtech since September 2016.
Offer document, p.169Fabtech Cleanrooms latest news and announcements
Announcements · Documents · Corporate actionsWhat changed recently
Each half-year is set against the same half a year earlier
- H2 FY26: sales ₹143 cr (+62%), net profit ₹12.7 cr (+81%) on H2 FY25.
- Shareholding, 30 Sept 2026: promoters unchanged at 68.51%.
- 10 Oct 2026: order worth ₹7.22 cr announced.
Fabtech Cleanrooms announcements
5 on record, latest first; each opens the filing on the exchange
Fabtech Cleanrooms annual reports, earnings calls and documents
Every document links to its source; “read” marks those this page is built from
- Offer document ↗read
- 31 May 2026 ↗read
- 30 Nov 2025 ↗read
- 30 June 2025 ↗read
- 5 Aug 2025 ↗read
Fabtech Cleanrooms share split, bonus and dividends
From the corporate actions the company announces on the exchange
- DividendInterim Dividend - Rs. - 2.0000ex-date 16 May 2025
Checks we ran on Fabtech Cleanrooms' data · 8
Before any number shows, it goes through the same checks. A figure that fails is held back, never shown as if it were right.
- ✓Balance sheet totals add up for FY25 and FY26.
- ✓Market cap uses the share count in the latest shareholding pattern (1,23,14,962 shares).
- ✓The share capital in the FY26 results matches the share count in the shareholding pattern.
- ✓Promoter and public holdings add up to 100% in every shareholding pattern shown.
- ✓The two half-years of FY26 add up to the full-year sales.
- !Earnings per share changes basis between FY21 (₹250.00) and FY22 (₹12.92) because the share count behind it changes; EPS is shown as reported, and growth is worked out on profit.
- ✓Revenue and profit are reported for every year shown, FY20 to FY26.
- iPrices run to the close on 14 Oct 2026, from the exchange's daily figures.
Questions people ask about Fabtech Cleanrooms
What does Fabtech Cleanrooms do?
Fabtech Cleanrooms builds dust free rooms for factories: it makes the wall and ceiling panels, doors and fittings, and through its group companies adds the air conditioning that keeps the air clean. Its customers are drug makers and, more and more, solar, data centre and chip plants. Its shares trade on BSE SME.
What is the share price of Fabtech Cleanrooms?
₹364 at the close on 6 Nov 2026, from the exchange's daily figures.
What is the market cap of Fabtech Cleanrooms?
₹448 cr at the close on 6 Nov 2026, on 1,23,14,962 shares.
What is the P/E of Fabtech Cleanrooms?
27.1 times FY26 profit at the close on 6 Nov 2026 (our arithmetic).
What are Fabtech Cleanrooms' revenue and profit?
Revenue ₹219 cr and profit after tax ₹17 cr in FY26.
Who are the promoters of Fabtech Cleanrooms?
Aasif Ahsan Khan, Aarif Ahsan Khan, Hemant Mohan Anavkar, Manisha Hemant Anavkar; promoters held 68.51% at 30 Sept 2026.
What is Fabtech Cleanrooms' website?
www.fabtechcleanroom.com
More SME companies like Fabtech Cleanrooms
Other listed SME companies in industrial manufacturing, the closest in size first, each read from its own documents.
- Adisoft TechnologiesADISOFT · NSE Emerge · Industrial Manufacturing · listed 2026Market cap ₹455 cr
- HRS AluglazeHRS · BSE SME · Industrial ManufacturingMarket cap ₹479 cr
- Kwick Forensic SolutionsKWICK · BSE SME · Industrial ManufacturingMarket cap ₹403 cr
- Purple Wave InfocomPURPLEWAVE · BSE SME · Industrial ManufacturingMarket cap ₹505 cr
- Cospower EngineeringCOSPOWER · BSE SME · Industrial ManufacturingMarket cap ₹507 cr
- Cryogenic OgsCRYOGENIC · BSE SME · Industrial ManufacturingMarket cap ₹535 cr
Built from 3 earnings call transcripts, 3 investor presentations, 3 annual reports, 1 offer document, 1 credit rating note, 5 exchange announcements, 5 shareholding patterns and 7 years of reported results. Every figure carries its source; where the documents are silent, the page says so.