Renol Polychem SME: Check IPO Date, Live Subscription and Key Details
Renol Polychem Limited, established in 2008 (manufacturing commenced in 2020), is a manufacturer and supplier of color masterbatches, color pigments, filler granules, anti-moisture powder, carbon noodles, superpack & onepack, impact modifier, processing AID, and titanium dioxide. The company specializes in customized masterbatches and pigments to suit specific customer requirements. They also offer all-in-one additive stabilizers, impact modifiers, and color pigments for the manufacturing of UPVC & CPVC pipes, pipe fittings, and other plastic products. Renol Polychem operates on a B2B model, selling and distributing its products directly to commercial and manufacturing organizations. They serve over 750 customers primarily in Gujarat (58.53% of revenue in FY24), Tamil Nadu (22.54%), Karnataka (14.60%), and other states.
Key Metrics
Check Live GMP
Timeline
IPO Opens
31 Jul
IPO Closes
4 Aug
Allotment
5 Aug
Listing
7 Aug
IPO Objectives
- Capital Expenditure in requirements for the purchase of Machinery.
- Repayment of certain borrowings.
- To meet out the Working Capital Requirements.
- General Corporate Purposes.
Strengths
- The promoters have over 15 years of experience in color masterbatch, giving the company strong industry knowledge.
- They offer a wide range of customized masterbatches and pigments, serving many industries like packaging, automotive, and agriculture.
- The company has strong relationships with suppliers and a good manufacturing facility in Rajkot, ensuring steady production.
- They've shown incredibly strong financial growth, with revenue up 859% and profit up 226% in FY25, and a high return on net worth.
- A big chunk of their revenue (83%) comes from exports, which helps spread out market risk, and they have clear plans for future growth.
Weaknesses
- The company's revenue has been very inconsistent and volatile over the past few years, raising concerns about business stability.
- The huge jump in profit after tax in FY25 is so aggressive that its sustainability and replicability are questionable.
- They've had negative cash flows from operations in some past years, which raises concerns about their ability to generate enough cash internally.
- A large part of their domestic revenue comes from just one state, Gujarat, making them vulnerable to regional economic issues.
- Their manufacturing facility is on rented land, which could pose risks if lease agreements aren't renewed, and they face tough competition and raw material price swings.
Financial Performance
| Period Ended | 31 May 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|---|
| Assets (₹ Cr.) | 25.86 | 23.41 | 15.49 | 10.28 |
| Revenue (₹ Cr.) | 12.02 | 62.56 | 6.52 | 41.86 |
| PAT (₹ Cr.) | 1.14 | 5 | 1.53 | 0.73 |
| Net Worth (₹ Cr.) | 14.47 | 13.33 | 8.69 | 2.71 |
Peer Comparison
| Company | P/B Ratio | P/E Ratio | RONW (%) | Net Worth (₹ Cr.) |
|---|---|---|---|---|
| Renol Polychem | 4.32 | 12.18 | 45.37 | 13.33 |
| Multibase India | 4.38 | 23.48 | 18.67 | 135 |
| Captain Polyplast | 2.66 | 13.97 | 12.63 | 95.45 |
Subscription Details
Daily Bids Status
| Date | Day 1 | Day 2 |
|---|---|---|
| QIB | 0.00x | 0.74x |
| NII | 2.87x | 2.99x |
| S-HNI | 0.37x | 0.93x |
| B-HNI | 2.52x | 2.85x |
| RII | 0.86x | 1.97x |
| Total | 1.11x | 2.00x |
Overall Subscription Statistics
| Category | Shares Offered | Shares Bid | Bid Amount (₹ Cr) |
|---|---|---|---|
| QIB | 2,56,800 | 1,90,800 | 2.00 |
| NII | 3,49,200 | 10,45,200 | 10.97 |
| Small NII | 1,16,400 | 1,08,000 | 1.13 |
| Big NII | 3,81,600 | 10,86,000 | 11.40 |
| RII | 13,15,200 | 25,96,800 | 27.27 |
| Total | 19,21,200 | 38,32,800 | 40.24 |
Company Details
- 307, Sanskar Heights NR RA Circle 150 FT Ring RD, Mavdi, Rajkot, Gujarat-360004
- +91- 9723780726
- compliance@renolpolychem.com
- https://www.renolpolychem.com/
Registrar Details
- Skyline Financial Services Private Ltd
- 02228511022
- ipo@skylinerta.com
- https://www.skylinerta.com/ipo.php