Msafe Equipments Limited is engaged in the manufacturing and supply of industrial safety products, primarily fall protection equipment and personal protective equipment (PPE). The company earns revenue through the sale of safety solutions used in construction, infrastructure, power, oil & gas, and manufacturing industries. Its product range includes safety belts, harnesses, helmets, and lanyards, ensuring worker safety and regulatory compliance across hazardous work environments.

The Company is led by Promoter, i.e.,Pradeep Aggarwal, Ajay Kumar Kanoi, Vansh Aggarwal, Rushil Agarwal, Gaurav Ajay Kumar Kanoi, Monika Agarwal and Rajani Ajay Kanoi

The Revenues from operations for the Period ended on Sep 30 2025, and Fiscals ended on Mar 31, 2025, 2024 and 2023 were ₹ 4,907.28 Lakh, ₹ 7,162.18 Lakh, ₹ 4,833.75 Lakh, and ₹ 2,971.22 Lakh, The EBITDA for the Period ended on Sep 30 2025, and Fiscals ended on Mar 31, 2025, 2024 and 2023 were ₹ 1,921.25 Lakh, ₹ 2,607.75 Lakh, ₹ 1,511.50 Lakh, and ₹ 918.89 Lakh, The Profit after Tax for the Period ended on Sep 30 2025, and Fiscals ended on Mar 31, 2025, 2024 and 2023 were were ₹ 1,050.03 Lakh, ₹ 1,301.21 Lakh, ₹ 655.18 Lakh, and ₹ 364.74 Lakh, respectively. This indicates a steady growth in financial performance.

The Company Key Performance Indicates the pre-issue  EPS of ₹ 8.13 and post-issue EPS of ₹ 6.38 for FY25. The pre-issue P/E ratio is 15.13x,while the post-issue P/E ratio is 19.28x against the Industry P/E ratio is 19.9x The company's ROE for FY25 is 67.97% and RoNW is 50.73% The Annualised EPS is ₹ 10.29x and P/E is ₹ 11.95x, These metrics suggest that the IPO is Fully priced.

 
The Grey Market Premium (GMP) of Msafe Equipments showing listing gains of 0%.Given the company's financial performance and the valuation of the IPO, we recommend  Investors to Avoid to the Msafe Equipments  Limited. IPO for Listing gain or Long Term Purposes.