Incorporated in 2015, Manilam Industries India Limited is engaged in the manufacturing and sale of Decorative Laminates and Plywood.
The company has developed and launched several laminate collections, including the Artistica Collection, the Vogue Collection, the Dwar Collection, and the Magnificent Collection. In response to market demand and distributor feedback, additional collections such as Chromatic Tales, Flute, ECP, Wood & Veneer, and Wall Cladding have also been introduced. These collections cater to both residential and commercial applications, providing a wide range of designs and finishes.
In addition to laminates, the company is involved in the trading of plywood in different grades and sizes, primarily serving industrial and commercial sectors.
The company’s manufacturing plant is located at Village Manda, Bhojipura Nainital Road, Bareilly, Uttar Pradesh, covering an area of 20,650 square meters. It operates on a business-to-business (B2B) model, with distributors—both large and small—placing orders directly with the manufacturing plant.
To enhance customer engagement, Manilam Industries India Limited has established Experience Centres in major cities including Bangalore, Delhi, and Chennai. In Bangalore and Chennai, the company follows an integrated setup combining Service Depots with Experience Centres, offering display, stock, dispatch, and customer interaction from a single location. This setup enables customers to view products, receive expert guidance on colour and design combinations, and fulfil orders efficiently.
As of February 10, 2026, the company employed a total of 152 individuals, including workers on third-party contracts.
| Period Ended | 30 Sep 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets | 159.99 | 158.98 | 149.56 | 133.55 |
| Total Income | 60.53 | 142.16 | 138.04 | 148.82 |
| Profit After Tax | 3.16 | 7.38 | 3.10 | 1.53 |
| EBITDA | 8.67 | 17.75 | 14.18 | 9.12 |
| NET Worth | 43.08 | 33.87 | 26.38 | 23.24 |
| Reserves and Surplus | 25.93 | 31.57 | 24.08 | 20.94 |
| Total Borrowing | 58.05 | 62.44 | 73.49 | 60.75 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Capital Expenditure – Purchase of equipment/machineries | 1.25 |
| 2 | Capital Expenditure – Purchase and installation of Solar Panel at the Manufacturing Plant | 2.20 |
| 3 | Repayment in full or in part, of certain loans availed by the Company | 3.50 |
| 4 | Working Capital Requirements of the Company | 16.65 |
| 5 | Expenses for General Corporate Purposes | |
| Total | 23.60 |
| KPI | Sep 30, 2025 | Mar 31, 2025 |
|---|---|---|
| ROE | 8.35% | 24.80% |
| ROCE | 13.50% | 36.68% |
| RoNW | 8.35% | 24.80% |
| PAT Margin | 5.33% | 5.33% |
| EBITDA Margin | 14.39% | 12.67% |
| Price to Book Value | 2.75 | 0.47 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 4.30 | 2.89 |
| P/E (x) | 16.04 | 23.85 |
| IPO Date | 20 to 24 Feb, 2026 |
| Listing Date | Fri, Feb 27, 2026T |
| Face Value | ₹10 per share |
| Price Band | ₹65 to ₹69 |
| Lot Size | 2,000 Shares |
| Sale Type | Fresh Capital & OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Total Issue Size | 57,90,000 shares (agg. up to ₹40 Cr) |
| Reserved for Market Maker |
2,92,000 shares
(agg. up to ₹2 Cr) |
| Fresh Issue (Ex Market Maker) | 44,06,000 shares (agg. up to ₹30 Cr) |
| Offer for Sale | 10,92,000 shares of ₹10 (agg. up to ₹8 Cr) |
| Net Offered to Public | 54,98,000 shares (agg. up to ₹38 Cr) |
| Share Holding Pre Issue | 1,71,50,000 shares |
| Share Holding Post Issue | 2,18,48,000 shares |
Manilam Retail India Private Limited, Mr. Umesh Kumar Nemani, Mr. Manoj Kumar Agrawal and Mr. Aman Kumar Nemani are the company promoters.
| Share Holding Pre Issue | 78.79% |
| Share Holding Post Issue | 61.85% |
As per our analysis and Based on the information we have, this is the output.
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