Manika Plastech Ltd

·

₹43.00 Issue Price

2026-09-11 – 2026-09-16

www.manikaplastech.com Bookbuilding IPO · NSE & BSE

Open Date

2026-09-11

Close Date

2026-09-16

Listing Date

2026-09-21

Allotment Date

2026-09-17

Current Price

₹43.00

High / Low

₹— / ₹—

ROCE

8.34 %

ROE

8.34 %

Face Value

₹2

About

Incorporated in 1996, Manika Plastech Limited is engaged in the manufacturing of rigid polymer packaging products, including battery casings, pails and thinwall containers.The Company manufactures battery casings, pails …

Incorporated in 1996, Manika Plastech Limited is engaged in the manufacturing of rigid polymer packaging products, including battery casings, pails and thinwall containers.The Company manufactures battery casings, pails and thinwall containers, which cater to various industrial and consumer applications. The Company also manufactures pails used for packaging paints, lubricants and industrial chemicals, while its food-grade thinwall containers are used for the packaging and distribution of dairy and edible food products. Its products are designed to provide structural strength, protection and ease of handling throughout the expected product lifecycle.Manika Plastech provides end-to-end rigid polymer packaging solutions, covering design and development, sourcing of raw materials, manufacturing, heat sealing, labelling, quality assurance and delivery. The Company has developed capabilities to provide customized packaging products and designs its automotive battery casings in accordance with Japanese and German technical standards, including JIS and DIN standards, to meet customer-specific product specifications and quality requirements.The Company serves a diversified customer base across multiple end-user industries, including automotive, energy storage, telecommunications, paints, lubricants, agrochemicals, construction chemicals, food and dairy, among others.During the three-month period ended June 30, 2026 and the preceding three Fiscals, the Company served 168 to 242 customers across 24 states and union territories in India. Its top 20 customers had an average relationship tenure of over 10 years as of June 30, 2026, while its long operating history of over two decades has enabled it to build relationships across multiple industries and reduce dependence on any particular customer or industry segment.The Company has 7 operating facilities, comprising 6 manufacturing facilities located in Dehradun, Hosur, Panipat, Una and Dadra, and 1 paint facility located in Hosur. As of July 31, 2026, it had an employee base of 352 employees and 809 contract labourers.The Company operates 6 manufacturing facilities and 1 painting facility across India. Its manufacturing units produce battery casings, pails, thinwall containers and automotive components, while the painting facility is used for painting automotive components.Dadra: Manufactures pails and thinwall containers, serving Vadilal Industries Limited and other leading food and dairy product manufacturers.Dehradun: Manufactures battery casings for customers including Livguard Energy Technologies Private Limited, Luminous Power Technologies Private Limited, Genus Innovation Limited and HSD Batteries (India) Pvt. Ltd.Hosur (Manufacturing): Produces battery casings, pails, thinwall containers and automotive components for customers such as Luminous Power Technologies Private Limited, Kansai Nerolac Paints Limited, JSW Paints Limited, Sakthi Accumulators Private Limited, Surya Batteries and Zunax Energy Products LLP.Hosur (Painting): Provides painting of automotive components for Ultraviolette Automotive Private Limited, TVS Motor Company Limited and other automotive component and commercial EV manufacturers.Panipat: Manufactures pails and thinwall containers, with Grasim Industries Limited as a key customer.Una: Manufactures battery casings, pails and thinwall containers for customers including Livguard Energy Technologies Private Limited, Luminous Power Technologies Private Limited and Kansai Nerolac Paints Limited.

📍 Gala Number C/22-26, First Tax Free Industrial Estate, Silvassa Khanvel Road, Vi…

📞 +91 22 4223 4300

✉️ cs@manikaplastech.com

Analysis

Pros

ROE of 8.34% indicates good return on equity.
ROCE of 8.34% shows efficient capital usage.
PAT margin of 8.03%.

Cons

Detailed analysis available after listing.

Pros and cons are machine generated. Please exercise caution and do your own analysis.

Subscription Status

Consolidated figures

17.98× overall

Metric	QIB	NII (HNI)	Retail	Total
Subscription	2.86×	34.97×	19.33×	17.98×
Shares	58,37,210	43,77,907	1,02,15,116	2,04,30,233
Bids	1,67,22,096	15,31,13,388	19,74,74,340	36,73,09,824

▼ Category-wise Detailed Breakdown

Category	Subscription	Offered	Bid Shares	Amt (₹ Cr)
QIB	2.86×	58,37,210	1,67,22,096	₹71.91
NII (HNI)	34.97×	43,77,907	15,31,13,388	₹658.39
Retail	19.33×	1,02,15,116	19,74,74,340	₹849.14
Market Maker	1.00×	—	—	—
Total	17.98×	2,04,30,233	36,73,09,824	₹1,579.43 Cr

Applications: - Total Bid Amount: ₹1,579.43 Cr

Profit & Loss

Figures in ₹ Crores / Amount in Crore

Metric	30 Jun 2026	31 Mar 2026	31 Mar 2025
Revenue	162.71	437.26	412.59
EBITDA	24.38	58.14	45.30
Profit After Tax	13.07	22.40	19.33
Net Worth	156.78	147.62	125.17
Total Assets	317.00	323.69	320.99
Reserves	136.97	127.69	105.29
Borrowings	92.46	88.19	97.45

Sales Growth
3 Years:	153.6%
Latest:	412.59 Cr

Profit Growth
3 Years:	47.9%
Latest PAT:	19.33 Cr

Return on Equity
ROE:	8.34%
ROCE:	8.34%

Key Financial Ratios

Profitability

ROE 8.34%

ROCE 8.34%

RONW 8.34%

PAT Margin 8.03%

EBITDA Margin 15.01%

Valuation

Pre EPS 2.36

Post EPS 4.49

Pre P/E 18.22×

Post P/E 9.58×

P/BV 2.61×

Leverage & Growth

Debt / Equity 0.59×

Sales Growth (3yr) +153.6%

Profit Growth (3yr) +47.9%

Latest Revenue 412.59 Cr

Latest PAT 19.33 Cr

Objects of the Issue

1 Funding the capital expenditure towards purchase of plant and machinery ₹54.93 Cr

2 Repayment and/or pre-payment, in part or full, of certain borrowings availed by Company ₹15.00 Cr

3 General Corporate Purposes

IPO Schedule & Important Dates

IPO Open

2026-09-11

Done ✓

IPO Close

2026-09-16

Today ←

Allotment

2026-09-17

Upcoming

Refund

2026-09-18

Upcoming

Demat Credit

2026-09-18

Upcoming

Listing

2026-09-21

Upcoming

Lot Size & Investment Details

RETAIL MIN

₹14,964

1 lot · 348 shares

RETAIL MAX

₹14,964

1 lots · 348 shares

Category	Lots	Shares	Amount (₹)
Retail (Min)	348	348	₹14,964
Retail (Max)	1	348	₹14,964

Pre-Issue Holding: 9,50,00,000 shares Post-Issue Holding: 11,65,11,627 shares

Lead Managers & Market Makers

Book Running Lead Managers

Pantomath Capital Advisors Pvt.Ltd

Allotment Status

Allotment Date: 2026-09-17

Registrar: MUFG Intime India Pvt.Ltd

Check Allotment

022-49186000

manikaplastech.ipo@in.mpms.mufg.com

https://in.mpms.mufg.com/Initial_Offer/public-issues.html