Shakti Polytarp IPO
IPO Open Now
₹2,24,000 / 4,000 shares
Price Range: ₹56 – ₹59 per share
Bidding Dates15 Sept, 2026 – 17 Sept, 2026
Min Investment₹2,24,000
Lot Size2,000
Issue Size₹26.93 Cr.
IPO Overview
IPO Timeline
IPO Offer Start15 Sept, 2026
IPO Offer Ends17 Sept, 2026
Allotment Finalisation18 Sept, 2026
Refund Initiation21 Sept, 2026
Listing of Shares22 Sept, 2026
IPO Analysis
Strengths
- The company manufactures a wide range of tarpaulin such as Geotextile, Lumber Wrap, House Wraps, Pond Linners, Green Net etc. The company's products find diverse applications across various industries including Agriculture, Construction, Automotive, Transportation & Logistics and Consumer goods.
- The company carries all manufacturing operations at its facility located in Plot No. 45-48, Industrial Area IIDC Nirmani, Dist. Khargone, Madhya Pradesh, spanning 1,98,450 sq. ft. The in-house manufacturing operations enable streamlined inventory management and production process resulting in maintenance of production standards, minimizing production time and bringing cost effectiveness.
- The company's management team is well qualified with Promoters Mr. Ravi Singhal, Mr. Vivek Singhal, Mrs. Trisha Singhal and Mrs. Priyal Singhal holding 17, 17, 14 and 9 years of experience respectively. The motivated team of management and key managerial personnel along with internal systems and processes complement each other to enable delivery of high levels of client satisfaction.
Risks
- The company derives significant revenue from manufacturing tarpaulins (46.29% in FY2026) and trading granules (48.25% in FY2026), with the top customer contributing 41.16% of total revenue. This concentration exposes the company to substantial volatility and market disruptions if demand patterns change or major customers are lost.
- The company's registered office and manufacturing facility are leased properties, not owned by the company. Any termination or non-renewal of lease agreements could severely disrupt operations and require costly relocation to alternative premises that may not be readily available.
- The company operated at only 64.64% capacity utilization in FY2023-24, improving to 60.17% in FY2024-25. Continued inability to effectively utilize existing and proposed manufacturing capacity may adversely affect business performance and financial returns on invested capital.
Objects of the Issue
The company intends to deploy net proceeds towards capital expenditure for the purchase of plant and machinery to enhance existing production capacity and improve operational efficiency. This investment will support streamlining of manufacturing processes, boost output, and enable sustainable future growth.
The company intends to deploy the balance net proceeds for general corporate purposes including strategic initiatives, strengthening marketing network & capability, meeting exigencies, and brand building exercises to strengthen operations. The utilization shall not exceed 15% of gross proceeds or Rs. 10 crores, whichever is lower.
Yearly Financial Results
Standalone — ₹ Crores
| Annual Financials | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|
| Revenue | 62.01 | 166.24 | 215.65 |
| Expenses | 61.08 | 159.60 | 202.51 |
| Other Income | 0.21 | 0.26 | 0.45 |
| Total Revenue | 62.23 | 166.50 | 216.10 |
| Profit Before Tax | 1.15 | 6.90 | 13.59 |
| Net Profit | 0.98 | 4.97 | 10.06 |
Balance Sheet
Standalone — ₹ Crores
| Balance Sheet | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|
| Total Assets | 40.29 | 71.39 | 110.12 |
| Current Assets | 21.51 | 43.86 | 41.61 |
| Fixed Assets | 18.78 | 27.53 | 68.51 |
| Total Equity & Liabilities | 40.29 | 71.39 | 110.12 |
| Total Liabilities | 29.46 | 53.59 | 82.26 |
| Current Liabilities | 20.50 | 34.72 | 48.29 |
| Non Current Liabilities | 8.96 | 18.87 | 33.97 |
| Total Equity | 10.84 | 17.80 | 27.86 |
Cash Flow
Standalone — ₹ Crores
| Cash Flow | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|
| Net Cash Flow | 0.19 | 3.27 | -3.29 |
| Investing Activities | -5.25 | -9.39 | -36.85 |
| Operating Activities | -2.05 | -10.79 | 13.40 |
| Financing Activities | 7.49 | 23.45 | 20.17 |
About Shakti Polytarp
The company is engaged in the production of tarpaulins, which are water-resistant materials designed to safeguard goods from rain, moisture, and other weather-related exposure. The company operates a manufacturing unit located at 45-48 I.I D.C.A.B. Road, Nimrani, Dist.-Khargone Madhya Pradesh, spanning 1,98,450 sq. ft., capable of producing various tarpaulin ranging.
Documents
Source: DRHP
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