Atharva Poly-Plast IPO

About Atharva Poly-Plast IPO

The Atharva Poly-Plast Limited IPO, SME IPO, opens on Tuesday, June 30, 2026 and closes on Thursday, July 02, 2026. The allotment of shares will take place on Friday, Jul 3, 2026. The credit of shares to the demat account will take place on Monday, Jul 6. The initiation of refunds will take place on Mon, Jul 6, 2026. The listing of shares will take place on Tuesday, Jul 7.

The offer consists of a fresh issue component of 0.45 crore shares of ₹27.00 crore. Atharva Poly-Plast Limited IPO's price band is set at ₹55 to ₹60 per share. The lot size for an application is 2,000 shares. The minimum amount of investment required by an individual investor is ₹2,40,000 i.e. 4,000 shares based on upper price. The minimum lot size for investment in HNI is 3 lots (6,000 shares), amounting to ₹3,60,000.

Objectives of Atharva Poly-Plast Limited IPO

• Funding Capital Expenditure towards purchase of Machinery
  
• Repayment/prepayment, in full or part, of all or certain outstanding borrowings availed by the Company
  
• Funding working capital requirements of the Company
  
• General Corporate Purposes
  

Listing will enhance the corporate image and visibility of the brand name. The Company will receive benefits from listing of Equity Shares on the SME Platform of BSE Limited.

Industry Outlook

India continues to show resilience with the IMF projecting stable real GDP growth of 6.2% in CY 2025. The plastic moulding industry is integral to India's manufacturing ecosystem, serving key sectors including automotive, home appliances, and furniture. With the global economy evolving and advanced economies facing headwinds, India's relative macroeconomic stability and demographic advantage position it strongly for sustained growth.

The precision plastic components market is driven by increasing demand from OEMs and Tier-1 suppliers across multiple verticals. India's manufacturing sector is benefiting from favorable demographics, expanding digital infrastructure, and rising investment activity. The shift toward lightweight, durable, and cost-effective plastic solutions in automotive and appliance manufacturing is creating significant growth opportunities.

About Atharva Poly-Plast Limited

Atharva Poly-Plast Limited is a manufacturer of precision plastic components with a growing presence across key industrial verticals. The Company was originally incorporated on January 08, 2014 as a private limited company and was converted to a public limited company on April 15, 2025.

The Company manufactures injection moulded components primarily made from polypropylene (PP), ABS, HDPE, and engineering polymers. Its manufacturing facility is strategically located to serve B2B customers across India. The Company has manufacturing capability with quality management systems certified under ISO 9001:2015 (Quality Management), ISO 14001:2015 (Environmental Management), and ISO 45001:2018 (Occupational Health & Safety).

Product portfolio spans four key segments: furniture components including headrests, back frames, and star bases for office chairs; home appliances components including refrigerator door handles and air conditioner fans; automotive components including tail lamps and seat components; and contract manufacturing services. Revenue from operations for FY25 was ₹ 4,753.56 lakhs, growing from ₹ 4,148.72 lakhs in FY24.

Strengths of Atharva Poly-Plast Limited

• The Company operates manufacturing facilities with ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018 certifications, supporting compliance requirements of global OEMs.
• Diversified customer base across furniture, home appliances, and automotive sectors reduces concentration risk and provides stable revenue streams.
• Established manufacturing capabilities with end-to-end support from mould design, prototyping to production, and quality assurance validation.
• Capacity expansion plans through capital expenditure for acquisition of new machinery to support future growth.
• Strategic location in Maharashtra with access to key industrial clusters supporting efficient supply chain management.

Risks of Atharva Poly-Plast Limited

• The Company's revenue is concentrated in furniture, home appliances, and automotive sectors, which creates dependency on these industry cycles.
• Fluctuations in raw material costs, including polypropylene and engineering polymers, directly impact production margins and profitability.
• Intense competition from established manufacturers may pressure pricing and market share, requiring continuous innovation and efficiency improvements.
• Inability to secure or retain key customers could materially adversely affect revenue, as the Company relies on major OEM relationships.
• Regulatory changes related to environmental standards, material usage, or manufacturing processes may require additional capital investments and operational adjustments.
• Technology obsolescence and changing customer specifications require continuous investment in equipment and process improvements to maintain competitiveness.

Source: All the financial information for listed industry peer mentioned above is sourced from the annual report of the relevant companies for Fiscal 2025, as available on the websites of the NSE and BSE.

Notes for peer group: 1. Return on Net Worth (%) = Profit for the year ended March 31, 2025 divided by Total Equity of the Company as on March 31, 2025.

2. NAV is computed as the Total Equity of the Company as on March 31, 2025 divided by the outstanding number of equity shares as on March 31, 2025.

Anchor Investor Bidding Date: Monday, June 29, 2026

IPO Registrar Details
MUFG Intime India Private Limited
Email: atharvapolyplast.smeipo@in.mpms.mufg.com
Phone: +91-22-4918 6270

Book Running Lead Manager
Horizon Management Private Limited

Atharva Poly-Plast Limited Contact Details
W-163A, S Block MIDC Bhosari, NA, Pune - 411026, Maharashtra, India.
Email: info@atharvapolyplast.in
Phone: +91- 94220-49184

Atharva Poly-Plast Limited Business Model

The company earns its revenue through manufacture and supply of precision plastic components to Original Equipment Manufacturers (OEMs) and Tier-1 suppliers. Revenue streams include sales of injection-moulded plastic components for furniture segment (office chairs), home appliances segment (refrigerator components, cooling solutions), automotive segment (tail lamps, seat assemblies), and contract manufacturing services. The Company offers customized solutions from design and prototyping to full production and quality assurance. Customers include leading OEMs across multiple verticals. The business model leverages manufacturing expertise, quality certifications, and long-standing customer relationships to drive recurring revenue.

Atharva Poly-Plast Limited Growth Trajectory

The Total Income for FY25 was ₹47.54 crores, whereas in FY24 and FY23 it was ₹43.09 crores and ₹46.82 crores, respectively.

The Profit After Tax for FY25 was ₹5.29 crores, whereas in FY24 and FY23 it was ₹2.00 crores and ₹0.71 crores, respectively.

The EBITDA for FY25 was ₹9.21 crores, whereas in FY24 and FY23 it was ₹6.08 crores and ₹4.87 crores, respectively.

Atharva Poly-Plast Limited Market Position

The Company operates a single manufacturing facility in Khandala, Satara, Maharashtra, strategically located to serve OEMs across India. The facility is equipped with precision injection moulding machines and tooling capabilities supporting multiple product lines. Distribution of products is managed directly to OEMs and Tier-1 suppliers, ensuring quality control and timely delivery.

Quality certifications including ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018 support the Company's positioning as a quality-centric supplier. The Company has undergone SEDEX SMETA 7.0 audit, demonstrating commitment to responsible business practices. Key customer relationships have been established over multiple years of consistent delivery and service.

As of 31 March 2025, the company's Total Income, Profit After Tax, and EBITDA were ₹47.54 crores, ₹5.29 crores, and ₹9.21 crores, respectively.

How to apply for Atharva Poly-Plast Limited IPO?

• Step 1: Log in to your Kotak Neo Demat account - Log in to your Demat account to access IPO investments. Next, select the current IPO section.
• Step 2: Specify IPO details - Enter the number of lots and the price you wish to apply for.
• Step 3: Enter UPI ID - After entering your UPI ID, click submit. This will place your bid with the exchange.
• Step 4: Mandate Notification - Your UPI app will receive a mandate notification to block funds.
• Step 5: Approve Request - Your funds will be blocked once you approve the mandate request on your UPI.