Central Mine Planning & Design Institute Ltd IPO Report

Company Overview

Central Mine Planning & Design Institute Ltd is a leading consultancy firm in India, providing services across the coal and mineral exploration, mine planning, and design spectrum. The company's capabilities extend to infrastructure engineering, environmental management, geomatics, specialized technology solutions, and management systems, primarily for the coal sector and other minerals. With a 61.0% market share in Fiscal 2025, the company is the preferred consultant for Coal India Limited.

History and Milestones

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The company was incorporated on November 1, 1975, as a wholly owned subsidiary of Coal India Limited. It was granted Mini Ratna (Category II) status in 2009 and later upgraded to Mini Ratna (Category I) status in 2019. With over 45 years of experience and more than 320 project reports delivered in the past decade, the company has continuously adapted to evolving industry dynamics by integrating advanced technologies and practices.

Valuation and Outlook

The company is valuing at a Price-to-Earnings (PE) ratio of 21.5x to its FY26 annualized earnings, with a market cap of Rs 1,22,808 million post issue of equity shares. We believe that the IPO is fully priced and recommend a "Subscribe Long Term" rating to the IPO.