CMPDIL IPO raises 1,842 crore for high-risk investors seeking long-term exposure to mining consultancy.

CMPDIL IPO raises 1,842 crore for high-risk investors seeking long-term exposure to mining consultancy. The Miniratna PSU trades at 18x trailing P/E, compared to 21.6x forward multiple based on FY26 estimates. Financial performance has been impressive with revenue growing 23% annually and net profit more than doubling to 666.9 crore in FY25. Ebitda margins expanded significantly to 40% from 27.6%, outpacing peers at 17-24%. However, concentration risk looms large as two-thirds of revenue comes from government entities, with Coal India alone contributing 66%. The transition toward green energy poses a material long-term threat to coal-dependent business models. The company is diversifying into non-coal minerals and international markets to mitigate these risks.