- POSITIVE
Annual Revenue Manika Plastech Mar-2026 Annual Revenue is Rs 437 Cr which is growth of 6.0% YoY.
- POSITIVE
Annual Net Profit Manika Plastech Mar-2026 Annual Net Profit is Rs 22 Cr which is growth of 15.9% YoY.
Manika Plastech was incorporated on April 25, 1996. The company is a design-led manufacturer of precision-engineered rigid polymer packaging for industries such as energy storage, dairy, food, paints, and chemicals. With 36 registered designs, its in-house developed products include battery casings, pails, and thinwall containers, tailored for durability, safety, and application-specific performance across diverse industrial and consumer segments
| Bidding Dates |
|---|
| 11 Sep 2026 - 16 Sep 2026 |
| Subscription |
|---|
| 28.14x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹13,920 | 1 | 13 | 348 | 29.2 M | ₹40 - ₹43 | 74.95 % | ₹1,167.4 M - ₹1,255.0 M | RHP DOC |
Manika Plastech IPO SUBSCRIPTION STATUS
16 Sep '26Total28.14x
Retail Individual Investor22.72x
HNI (NII) Investors63.09x
Qualified Institutional Buyers10.94x
Manika Plastech IPO overall subscription rate was 28.14 times the total available shares
Manika Plastech IPO retail subscription rate was 22.72 times in the retail segment
Manika Plastech IPO non-institutional investor subscription rate was 63.09 times in the non-institutional investor category
Manika Plastech IPO Qualified Institutional Bidder subscription rate was 10.94 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
16 Sep 2026 (Day 3) | 22.72x | 63.09x | 10.94x |
15 Sep 2026 (Day 2) | 11.45x | 10.69x | 0.8x |
11 Sep 2026 (Day 1) | 2.12x | 1.19x | 0.35x |
Manika Plastech FINANCIALS
| Period | Revenue from Operations (Rs in crore) | Net Profit (Rs in crore) | Cash Flow from Operations (Rs in crore) | Free Cash Flow (Rs in crore) | Margins |
| Q1FY27 | 162.5 | 13.1 | 9.9 | 3.5 | 15.0% |
| FY26 | 436.0 | 22.4 | 44.3 | 25.4 | 13.3% |
| FY25 | 406.5 | 19.3 | 36.9 | 13.5 | 11.1% |
| FY24 | 360.8 | 11.5 | 35.4 | -18.5 | 8.6% |
Manika Plastech IPO SUBSCRIPTION STATUS DETAILS
Manika Plastech had 29.2 M shares on offer
Manika Plastech IPO offer price was in the range ₹40 - ₹43
Manika Plastech IPO minimum Investment was ₹13920
Manika Plastech IPO issue size was ₹ 1,167.4 M - ₹ 1,255.0 M
Manika Plastech had a minimum lot size of 348 Shares per application
Manika Plastech NUMBER OF SHARES ON OFFER
Total29.2 M
Fresh Issue21.5 M
Offer for Sale7.7 M
Post Issue Promoter Holding %74.95 %
Manika Plastech IPO IMPORTANT DATES
| Issue Open Date | 11 Sep 2026 |
| Issue close Date | 16 Sep 2026 |
| Allotment Date | 17 Sep 2026 |
| Refund Date | 18 Sep 2026 |
| Demat Account Credit Date | 18 Sep 2026 |
| Listing Date | 21 Sep 2026 |
| Listing on Exchange(s) | NSE and BSE |
| Manika Plastech Allotment Status | Exchange/ Registrar |
Manika Plastech IPO subscription opened on 11 Sep 2026, and closed on 16 Sep 2026
IPO allotment for Manika Plastech was finalized on Thursday, 17 Sep 2026
IPO listing for Manika Plastech was on NSE and BSE on Monday, 21 Sep 2026
Manika Plastech IPO LISTING GAINS
| Issue Price (adjusted) | 43.0 |
| Listing Open Price | 43.0 |
| Listing Close Price | 43.1 |
| Listing Gain% | 0.0% |
| Current Gain% | 26.1% |
Manika Plastech Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Manika Plastech Ltd. | 54.2 | 631.6 | 28.2 | 1.8 | 1.4 | 15.2 | 6.9 | 437.3 | 6 | 22.4 | 15.9 | 1.9 | 15.9 |
| Garware Hi-Tech Films Ltd. | 6997.5 | 16256.9 | 41.9 | 2.2 | 7.2 | 12.7 | 11.2 | 2185 | 1 | 338.2 | 2.1 | 166.9 | 19 |
| EPL Ltd. | 232.4 | 7457.7 | 19.2 | -10.4 | 1.5 | 13.6 | 7.9 | 4806.5 | 12.9 | 388.9 | 8.3 | 12.1 | -1.8 |
| AGI Greenpac Ltd. | 770.4 | 4984.6 | 13.8 | 3.4 | 1.8 | 14.6 | 9.9 | 2760.4 | 6 | 351.7 | 9.1 | 56 | 4.1 |
| Uflex Ltd. | 621.7 | 4489.4 | 6.6 | 0.1 | 0.3 | 3.9 | 1.4 | 15513 | 2.1 | 317.1 | 122.8 | 94.5 | 128.3 |
| TCPL Packaging Ltd. | 4274.7 | 3890 | 33.7 | -2.5 | 2.1 | 13.6 | 5.7 | 1835.6 | 2.9 | 97.8 | -31.6 | 126.9 | -13.6 |
Quarterly
Annual
Balance Sheet
Ratios
Cash Flow
Manika Plastech annual results: revenue, profit, P&L, and margins as of Mar 2026 – 11 year history
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| Indicator | Graph | Mar '26 | Mar '25 |
|---|---|---|---|
| 437.3 | 412.6 | ||
Operating Exp. Ann. | 377.9 | 361.2 | |
Operating Profit Ann. | 58.1 | 45.3 | |
OPM Ann. % | 13.29% | 10.98% | |
| 406.8 | 387.2 | ||
EBITDA Ann. | 59.4 | 51.4 | |
EBITDA Ann. margin % | 13.59% | 12.45% | |
Interest Ann. | 15.1 | 13.4 | |
Depr. | 13.9 | 12.5 | |
PBT Ann. | 30.4 | 25.4 | |
Tax Ann. | 8 | 6.1 | |
| 22.4 | 19.3 | ||
Net Profit Ann. | 22.4 | 19.3 | |
NPM Ann. % | 5.13% | 4.75% | |
EPS Adj. latest Ann. | 1.9 | 1.7 |
*All financials are in INR Cr and price data in INR
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Total Rev. Ann.
1Y CHG
6%
Net Profit Ann.
1Y CHG
16.1%
Operating Exp. Ann.
1Y CHG
4.6%
Manika Plastech IPO Reports
Manika Plastech INFORMATION ON IPO ISSUE
About Manika Plastech
Manika Plastech was incorporated on April 25, 1996. The company is a design-led manufacturer of precision-engineered rigid polymer packaging for industries such as energy storage, dairy, food, paints, and chemicals. With 36 registered designs, its in-house developed products include battery casings, pails, and thinwall containers, tailored for durability, safety, and application-specific performance across diverse industrial and consumer segments
Object of the Issue
- Funding the capital expenditure towards purchase of plant and machinery
- Repayment/pre-payment, in part or full, of certain borrowings availed by the company
- General corporate purposes
Manika Plastech - PROMOTERS
| Name |
|---|
| Nikunj Mohanlal Kapadia |
| Munjal Nikunj Kapadia |
| Mihir Nikunj Kapadia |
| Pratik Nikunj Kapadia |
| VRIDAA Holding Trust |
Manika Plastech - MANAGEMENT & LEADERSHIP
| Name | Designation |
|---|---|
| Nikunj Mohanlal Kapadia | Chairman & Non-Executive Director |
| Munjal Nikunj Kapadia | Managing Director |
| Mihir Nikunj Kapadia | Whole-time Director |
| Pratik Nikunj Kapadia | Whole-time Director |
| Anand Shailesh Bathiya | Independent Director |
| Chitradurga Narasimha Murthy | Independent Director |
| Sanjay Khubchand Israni | Independent Director |
| Mita Dixit | Independent Director |
Manika Plastech Book Running Lead Manager
Pantomath Capital Advisors Private Limited
manika.ipo@pantomathgroup.com
Manika Plastech Registrar to the Offer
MUFG Intime India Private Limited
manikaplastech.ipo@in.mpms.mufg.com
Manika Plastech Strengths
Customer-centric manufacturing
The company follows a customer-centric manufacturing strategy by locating facilities close to clients, enabling faster delivery, reduced inventory costs, and better production planning, which provides a competitive advantage
Strength
Scalable infrastructure
The RPP industry demands scalable infrastructure to meet customer growth. With six manufacturing facilities—four near key customers—the company ensures accessibility, quality, and service. Long-term relationships and high entry barriers provide a competitive edge over new entrants
Strength
In-house design & development
To meet changing customer needs, the company launches new products independently or on request, using in-house design capabilities and market insights. It offers end-to-end RPP solutions from design to delivery managing everything from product development to mould procurement and manufacturing
Strength
Manika Plastech Risks
Limited track record
The company recently diversified into thinwall containers and automotive component painting in 2024, and has a limited track record in these segments. Inadequate risk management in these new areas could affect its business and financial health
Risk
Regulatory changes on plastic waste
Growing awareness and regulations around plastic waste, including potential bans in India, may impact key raw materials or end-use products packaged using the company's offerings. Such changes could adversely affect its business, financial condition, cash flows, and operations
Risk
Customer trust
The company manufactures RPP products like battery casings, pails, and thinwall containers, which must meet strict quality and technical standards. Despite established quality controls, any supply of defective or non-conforming products could harm customer relationships and negatively impact business and financial performance
Risk
IPO FAQs
This IPO consists of an offer for sale of up to Rs 33.0 crore, of 7,674,418 shares. It also consists of a fresh issue of Rs 92.5 crore.
The promoters of the company are Nikunj Mohanlal Kapadia, Munjal Nikunj Kapadia, Mihir Nikunj Kapadia, Pratik Nikunj Kapadia and VRIDAA Holding Trust.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 40.0 - 43.0.
The IPO application opens on Sep 11, 2026 and closes on Sep 16, 2026.
The minimum lot size for the IPO is 348. The maximum lot size for the IPO is 4524.
For all category investors, the minimum application amount for this IPO is Rs. 13,920.0, the maximum value for this IPO is Rs 194,532.0.
This IPO will be allotted on Sep 17, 2026.
The refund will be credited to your account on Sep 18, 2026.
The allotted shares will be credited to your demat on Sep 18, 2026.
Manika Plastech Ltd.’s shares listed on the stock exchanges on Sep 21, 2026.