Mehul Colours SME: Check IPO Date, Live Subscription and Key Details
Mehul Colours Limited, established in 1995 (formerly Mehul Colours & Masterbatches Pvt. Ltd.), is a Mumbai-based company specializing in the manufacturing and export of masterbatches, which are concentrated mixtures of pigments and additives used in the plastic industry. Their product range includes colour masterbatches (white, black, and custom colours), additive masterbatches (e.g., UV resistance, flame retardancy, anti-static), special effect masterbatches (e.g., pearl, metallic, fluorescent), and filler masterbatches. These products are tailored to enhance the color, aesthetics, and functional properties of plastics, rubbers, and elastomers across various industries such as stationery, plastic household products, plastic toys, agricultural tools, pipes and fittings, packaging materials, wires & cables, electrical switches & accessories, and sheets.
Key Metrics
Check Live GMP
Timeline
IPO Opens
30 Jul
IPO Closes
1 Aug
Allotment
4 Aug
Listing
6 Aug
IPO Objectives
- Funding of capital expenditure towards setup of a new manufacturing facility.
- Funding of Working Capital Requirements.
- General Corporate Purpose.
Strengths
- Integrated Facilities: In-house manufacturing with R&D and testing, allowing for custom solutions and quality control.
- Established Customer Base: Long-term relationships with over 500 customers ensure stable demand.
- Industry Expertise: Experienced promoters, including Mr. Mehul Pravinchandra Joshi with 20+ years in masterbatch.
- Diverse Product Portfolio: Offers a wide range of masterbatches (color, additive, special effect, filler) catering to various plastic needs.
- Strong Financials & Returns: Consistent revenue growth (5% FY24-25), significant PAT rise (71% FY24-25), and high RoNW (32.26%) and ROCE (43.53%) in FY25.
Weaknesses
- Low Revenue Growth: Relatively slow top-line growth (5% FY24-25) raises long-term scalability concerns.
- Export Concentration: 83% of FY25 revenue from exports to limited countries, exposing to geopolitical and FX risks.
- Competitive Market: Operates in a highly competitive and fragmented masterbatch industry, leading to pricing pressures.
- Raw Material Volatility: Susceptible to price fluctuations in key raw materials (polymers, pigments), impacting margins.
- Small Employee Base: Only 32 permanent employees as of June 2025, potentially limiting scalability and posing operational dependency risks.
Financial Performance
| Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Assets (₹ Cr.) | 18.95 | 13.87 | 10.82 |
| Revenue (₹ Cr.) | 23.71 | 22.66 | 21.37 |
| PAT (₹ Cr.) | 5.5 | 3.22 | 2.94 |
| Net Worth (₹ Cr.) | 17.06 | 11.56 | 8.36 |
Peer Comparison
| Company | P/B Ratio | P/E Ratio | RONW (%) | Net Worth (₹ Cr.) |
|---|---|---|---|---|
| Mehul Colours | 4.7 | 13.8 | 38.46 | 17.06 |
| Polylink Polymers India Ltd | 1.93 | 27.16 | 7.13 | 27.81 |
| Deep Polymers Ltd | 1.46 | 25.35 | 5.75 | 85.28 |
Subscription Details
Daily Bids Status
| Date | Day 1 | Day 2 | Day 3 |
|---|---|---|---|
| QIB | 0.47x | 0.72x | 13.54x |
| NII | 3.12x | 3.56x | 10.91x |
| S-HNI | 0.44x | 1.20x | 5.24x |
| B-HNI | 4.46x | 5.26x | 14.27x |
| RII | 0.28x | 0.89x | 3.56x |
| Total | 0.95x | 1.41x | 7.98x |
Overall Subscription Statistics
| Category | Shares Offered | Shares Bid | Bid Amount (₹ Cr) |
|---|---|---|---|
| QIB | 5,71,200 | 77,34,400 | 55.69 |
| NII | 4,28,800 | 46,80,000 | 33.70 |
| Small NII | 1,42,400 | 7,45,600 | 5.37 |
| Big NII | 2,86,400 | 40,86,400 | 29.42 |
| RII | 10,01,600 | 35,68,000 | 25.69 |
| Total | 20,01,600 | 1,59,82,400 | 115.07 |
Company Details
- Unit No - A 305,306, Kemp Plaza, Link Road, Chincholi Bunder Road, Mind Space, Near Evershine Mall, Malad West, Mumbai, Maharashtra-400064
- +91-22-2872 3555
- info@mehulcolours.com
- https://www.mehulcolours.com/
Registrar Details
- Bigshare Services Pvt Ltd
- +91-22-6263 8200
- ipo@bigshareonline.com
- https://ipo.bigshareonline.com/IPO_Status.html