Bonfiglioli Transmissions IPO

Status: Preopen
RHP:
BSE, NSE

₹ 13,950 / 25 shares
Minimum Investment

Bonfiglioli Transmissions IPO Details

Open Date
15 Oct 2026
Close Date
19 Oct 2026
IPO Price Range
₹ 558 to ₹586
IPO Size
₹ 2,533.66 Cr

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About Bonfiglioli Transmissions

Last Updated: 12 October 2026 7:52 PM by 5paisa

Bonfiglioli Transmissions Limited is an Indian manufacturer of mechanical and electromechanical power transmission and industrial drive solutions. The company is part of the Italy-headquartered Bonfiglioli Group and manufactures gearboxes, gear motors, electric motors and drive systems used across industrial machinery, construction equipment, agricultural machinery, material handling equipment and wind energy applications.

Its operations are organised into three principal business divisions: Industry & Automation Solutions, Off-Highway Mobility and Wind Industries. Its product portfolio includes helical, bevel, planetary and worm gearboxes, track and swing drives, yaw and pitch drives, and associated motion-control solutions. The company serves original equipment manufacturers (OEMs), industrial customers and distributors through direct sales, dealer networks and inter-company arrangements.

Bonfiglioli operates manufacturing and assembly facilities in Tamil Nadu and Maharashtra, including locations at Thirumudivakkam, Mannur and Talegaon. The business combines local manufacturing capabilities with product engineering, technical expertise and technology support from the wider Bonfiglioli Group. Its operations serve both domestic and international markets.

Established in: 1998

Managing Director: Kennady V Kaippally

Peers:

Metric	Bonfiglioli Transmissions	Elecon Engineering	Shanthi Gears	Schaeffler India	Timken India
Face Value (₹)	10	1	1	2	10
Revenue (₹ Cr)	2013.53	2366.05	518.72	9685.85	3478.03
Basic EPS (₹)	12.65	—	—	—	—
P/E (x)	—	31.63	63.39	53.74	57.66
RoNW (%)	23.96	14.81	17.42	19.02	13.68
NAV Per Share (₹)	52.82	102.65	57.36	386.94	403.31

Bonfiglioli Transmissions Objectives

The Bonfiglioli Transmissions IPO consists entirely of an Offer for Sale by its promoter shareholder, Bonfiglioli S.p.A. There is no fresh issue component.

The principal objectives are:

1. To facilitate the sale of equity shares by the promoter selling shareholder.

2. To enable the listing of the company's equity shares on BSE and NSE.

3. To provide a public trading platform for the company's equity shares.

Bonfiglioli Transmissions IPO Size

Types	Size
Total IPO Size	₹2,533.66 Cr
Offer For Sale	₹2,533.66 Cr
Fresh Issue	-

Bonfiglioli Transmissions IPO Lot Size

Application	Lots	Shares	Amount (₹)
Retail (Min)	1	25	13950
Retail (Max)	13	325	190450
S-HNI (Min)	14	350	195300
S-HNI (Max)	68	1700	996200
B-HNI (Min)	69	1725	962550

Bonfiglioli Transmissions Financial Status

Profit and Loss

Revenue
EBITDA
PAT

Balance Sheet

Total Liabilities
Share Capital
Total Assets

Particulars (In ₹ Crores)	FY2024	FY2025	FY 26
Revenue	1,854.20	2,013.53	1131.87
EBITDA	295.07	370.77	223.87
PAT	195.16	237.87	148.58
Particulars (In ₹ Crores)	FY2024	FY2025	FY 26
Total Assets	1,299.08	1,439.46	1495.82
Share Capital	125.33	125.33	187.10
Total Liabilities	438.13	446.47	461.56
Particulars (In ₹ Crores)	FY2024	FY2025	FY 26
Net Cash Generated From Operating Activities	188.35	187.68	129.99
Net Cash Generated From / (Used In) Investing Activities	109.40	-52.38	-26.06
Net Cash Generated From / (Used In) Financing Activities	-243.61	-126.79	-116.85
Net Increase / (Decrease) In Cash And Cash Equivalents	54.14	8.51	-13.01

Bonfiglioli Transmissions IPO SWOT Analysis

Strengths

1. Diversified industrial applications: The company's products serve industries including manufacturing, infrastructure equipment, material handling, agriculture and renewable energy, reducing dependence on a single end-use industry.

2. Established manufacturing presence: Bonfiglioli operates multiple manufacturing and assembly locations in India, supporting domestic customers and export markets.

3. Global engineering and technology access: Its relationship with the Bonfiglioli Group provides access to established gearbox designs, technology platforms, product development capabilities and technical expertise.

4. Improving financial performance: PAT increased from ₹148.49 crore in CY2023 to ₹237.87 crore in CY2025, while EBITDA also improved.

5. Low reported borrowings: The company reported no outstanding borrowings in CY2025, compared with ₹110.79 crore in CY2023.

Weaknesses

1. Dependence on group technology and intellectual property: Bonfiglioli relies on its parent group for certain technical know-how, product designs, licensing arrangements and other business support.

2. Exposure to industrial capital expenditure: Demand for gearboxes and power transmission equipment depends partly on machinery purchases, equipment production and capital expenditure cycles.

3. Working-capital requirements: Manufacturing operations require inventories, receivables and supplier payments, potentially creating cash-flow fluctuations.

4. Related-party dependencies: Transactions and arrangements with Bonfiglioli Group entities are important to the company's operating and commercial model.

5. No fresh IPO proceeds: The Offer for Sale structure means Bonfiglioli Transmissions will not receive additional growth capital from the public issue.

Opportunities

1. Industrial automation adoption: Increasing use of automated machinery and advanced industrial equipment could support demand for power transmission and motion-control solutions.

2. Infrastructure and construction equipment demand: Expansion in infrastructure, mining and construction activity may support demand for off-highway drive systems.

3. Wind energy equipment requirements: Investments in wind power generation create potential demand for specialised yaw and pitch drives and related transmission equipment.

4. Domestic manufacturing expansion: Greater localisation of industrial equipment manufacturing could create opportunities for gearbox and drive-system suppliers.

5. Electrification and advanced drive solutions: Growing adoption of electric and integrated drive technologies may support demand for specialised electromechanical products.

Threats

1. Competition from domestic and international manufacturers: Bonfiglioli faces competition across industrial gearboxes, motors, transmission systems and automation components.

2. Raw-material price volatility: Changes in steel, castings, bearings and other component costs could affect manufacturing expenses and profitability.

3. Industrial demand fluctuations: Slowdowns in construction machinery, agricultural equipment, capital goods and wind energy investment could affect order volumes.

4. Foreign exchange exposure: Export operations and international procurement arrangements expose the business to currency movements.

5. Supply-chain and technology risks: Disruptions in component availability, manufacturing operations or access to group technology could affect production and customer deliveries.

Why Invest in Bonfiglioli Transmissions IPO?

1. Established engineering business: Bonfiglioli has operated in India since 1998 and manufactures power transmission and industrial drive equipment for several industrial applications.

2. Improving profitability: PAT increased from ₹148.49 crore in CY2023 to ₹237.87 crore in CY2025, reflecting improved reported earnings.

3. Diversified business segments: The company operates across industrial automation, off-highway equipment and wind energy, providing exposure to different end-user markets.

4. Global technology support: Its association with the Bonfiglioli Group provides access to established engineering capabilities, technology platforms and product expertise, alongside related-party dependencies.

5. Low financial leverage: The company reported no outstanding borrowings in CY2025, although investors should separately consider working-capital requirements and the fact that the IPO is entirely an Offer for Sale.

Bonfiglioli Transmissions Industry Landscape and Growth Potential

India's mechanical power transmission and industrial drive systems market serves a broad range of manufacturing, infrastructure and industrial equipment applications. Demand for gearboxes, geared motors and specialised drive systems is influenced by industrial capital expenditure, equipment production, automation adoption and investments in renewable energy.

Industrial automation is an important demand driver as manufacturers adopt more efficient production lines, material handling equipment and electronically controlled machinery. Modern automation systems require integrated mechanical and electromechanical drive solutions capable of delivering controlled speed, torque and operational efficiency.

The off-highway equipment segment offers another source of demand through construction, agriculture, mining and infrastructure-related machinery. Similarly, wind energy installations require specialised transmission equipment, including yaw and pitch drive systems, to support turbine operations.

Bonfiglioli participates in these markets through its Industry & Automation Solutions, Off-Highway Mobility and Wind Industries divisions. Its Indian manufacturing facilities, diversified product portfolio and relationship with the global Bonfiglioli Group provide access to several industrial demand segments.

Future growth will depend on industrial investment, equipment demand, competition, raw-material costs and the company's ability to maintain product quality, manufacturing efficiency and customer relationships.