Segment focused on recently listed Steamhouse India, up 35% since its IPO, as it expands into new geographies and exits cold trading business

Mon 12 Oct 2026

IPO issue price

81 rupees

Current trading price

127 rupees

Stock gain since listing

35 percent

Community boilers operated

7 community boilers

Revenue share from steam business

52 rupees out of 100 rupees

Heard on business television between 11:31:17 - 11:34:17 IST.

• Steamhouse India is in the industrial gases space and generates and distributes steam to industrial clients via community boilers.
• The company is expanding beyond its traditional Gujarat base into Himachal Pradesh and Tarapur in Maharashtra.
• Margins are expected to expand further as debt is repaid using IPO proceeds.
• Stock has risen 35% since listing, from an IPO price of around 81 rupees to current trading price of 127 rupees.
• Company has shut its cold trading business, which was a big growth driver in recent years, raising the question of where future growth will come from.
• It operates seven community boilers (six owned, one leased), all in Gujarat, serving chemical and pharma clients including listed companies Aether Industries and Anupam Rasayan.
• Out of every 100 rupees of revenue, 52 rupees comes from manufacturing and distribution of steam.

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