Shreedhar Motors launch IPO after 42% revenue surge

Shreedhar Motors has delivered consistent growth and shareholder returns after its revenue increased by 42 per cent in the financial year 2024.

Meanwhile, its Net Profit After Tax (NPAT) reached $6.6 million.

This strong financial performance has inspired the automotive company to launch its Initial Public Offering (IPO) with planned listings on the South Pacific Stock Exchange (SPX).

"Under the Prospectus, 9,000,000 fully paid ordinary shares are being offered at an issue price of $1.00 per share," Shreedhar Motors said in a media statement.

"Following the IPO, the company will have 130,000,000 ordinary shares on issue, implying a projected market capitalisation of $130 million.

"Subject to regulatory approvals, trading of SML shares on the SPX is expected to commence on 17 March 2026."

The company has also paid dividends for nine consecutive years, with payout ratios exceeding 80 percent of NPAT.

Operating with conservative gearing and a strong balance sheet, Shreedhar Motors is well positioned for sustainable long-term growth.

Chairman of the Board, Satya Prakash Maharaj said the planned listing marks an important milestone for Shreedhar Motors.

"We are a profitable company, with a strong balance sheet, conservative gearing and a proven record of dividend payments," Mr Maharaj said.

"By strategically expanding our footprint across Fiji and into new market segments, we are positioning the company for the future of mobility in Fiji.

"By going public, Shreedhar Motors is opening up new opportunities for investment and growth, which will ultimately benefit customers, employees and the wider community. We invite investors to join us in this journey of trust, performance, and growth,” he said.

Shreedhar Motors is now preparing for its next phase of expansion, supported by key strategic initiatives, which includes the planned establishment of a new 4S branch in Labasa to service Fiji’s northern economy.

Other strategic initiatives include the development of a major new branch in Nadi, to strengthen its presence in the western tourism hub.

"Diversification into heavy commercial vehicles and the introduction of hybrid and electric models, aligned with Fiji’s environmental commitments.

"Continued investment in digital transformation, including a cloud-based dealership platform and a growing online community of more than 44,000 followers," Shreedhar Motors said in a media statement.

Founded in 1965 by Shree Dhar Maharaj, Shreedhar Motors has grown from its origins as the distributor of Leyland buses and trucks into the authorised distributor for Ford and Subaru in Fiji.

With nearly six decades of industry leadership, the company operates a nationwide 4S model—Sales, Service, Spare Parts, and Surveys, across branches in Suva, Lautoka, Labasa, and Lami.

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