Millworks Technologies SME IPO Details, Financials, Valuation & Peers

Millworks Technologies Ltd. is a precision engineering company specializing in the manufacture of high-accuracy machined components, sheet metal parts, and integrated assemblies for mission-critical applications across the railways, aerospace, defence, and semiconductor industries.

Business Verticals:

• Aerospace: Precision-machined components and sub-assemblies used in aero-engine applications.

• Defense: Machined components and sub-assemblies such as missile airframe components, guidance system housings, structural brackets and mounts, and hydraulic cylinder parts, etc.

• Railways: Precision components used in train control and rolling stock infrastructure, and manufacturing components for train and metro door systems, including parts used in door mechanisms and actuators.

• Semiconductor Machinery: precision-engineered components and fixtures used in semiconductor manufacturing and testing equipment, such as machine base frames, precision brackets and mounts, alignment plates, and equipment housings, etc.

Its operations are executed under both Build-to-Print (BTP) and Build-to-Spec (BTS) models, along with full-scope manufacturing and job-work arrangements. Under the Build-to-Print (BTP) model, it manufactures components strictly in accordance with customer-supplied drawings and technical specifications. In contrast, the Build-to-Spec (BTS) model involves producing components based on functional and performance requirements defined by customers to deliver solutions aligned with their operational objectives.

As of November 30, 2025, the company operates four advanced manufacturing facilities in Bengaluru, Karnataka. These facilities are equipped with state-of-the-art infrastructure, including CNC machining centers (3-axis, 4-axis, and 5-axis), CNC turning and turn-mill centers, wire EDM machines, fibre laser cutting systems, CNC press brakes, welding stations, and dedicated assembly and inspection areas.

Competitive Strengths:

• Precision Engineering Capability and Manufacturing of Complex Components Across Diverse Materials

• Certified Quality Management Systems Supporting Process

• Comprehensive Manufacturing Infrastructure

• Global Customer Relationships and Export-Oriented Business Operations

• Structured Research and Development Function

• Experienced Management and Skilled Technical Workforce

• Strong order book of Rs 9,594.45 lakhs (As of Jan 10, 2026)