Analysis · Mobility & Logistics

Sedemac mechatronics makes strong stock market debut

By Startup Enthusiast · 16 March 2026

What they do

Sedemac develops ECUs, motor controllers and powertrain solutions for vehicles and generators

The company debuted on stock exchanges on March 11, 2026 with a market cap of ₹6,798 crore

It counts TVS, Bajaj Auto and Hero MotoCorp as customers and has EBITDA margins of 20%

SEDEMAC Mechatronics made its IPO debut on March 11, 2026.
The company's market capitalisation stood at ₹6,798 crore after listing.
Founder Shashikanth Suryanarayanan set up the company in 2007 and serves as managing director.
Early backers A91 Partners and Nandan Nilekani's family office took partial exits post-IPO but retained significant stakes.
The company reported EBITDA margin of 20% in the first nine months of FY26.
Revenue grew from ₹540 crore in FY24 to ~₹640 crore in FY25 and ~₹770 crore in the first nine months of FY26.
Cost of materials accounts for ~70% of total expenses.

The IPO debut highlights strong investor appetite for deep-tech automotive companies.
Deep-tech startups received less than 1% of India's total startup funding between 2014 and 2025.
SEDEMAC's revenue concentration is high: 75-80% from a single key customer and 85-90% from top three customers.

SEDEMAC develops ECUs (engine control units), motor controllers and powertrain solutions for automobiles and power generators.
Its systems act as a decision-making layer for engines, motors and generators using sensor data and proprietary algorithms.
Key customers include TVS, Bajaj Auto, Hero MotoCorp, Kirloskar Oil Engines and Briggs & Stratton.
The company's top 10 customers account for nearly its entire business.

A91 Partners (existing) — Early backer that took partial exit post-IPO.
Nandan Nilekani's family office (existing) — Early backer that took partial exit post-IPO.