Renol Polychem IPO Review

Renol Polychem is India’s fastest growing Masterbatches manufacturer. Having years of Master Batch Industry Experience and located at rajkot (Gujarat) having fast access to capital of India via transport networks, shipping ports & easy access to raw materials. They continue to be the most reliable manufacturer of Masterbatches in India.

The Company is managed by the Promoters namely Mr. Bhaveshbhai Mansukhbhai Harsoda and Mr. Naitik Bhaveshbhai Harsoda. Bhaveshbhai Mansukhbhai Harsoda- Managing Director of the Company is responsible for complete production and operational activities of the company and is having an experience of more than 15 years in this industry. Naitik Hiteshbhai Harsoda- Executive Director of the Company is having an experience of 4 years and is playing vital role in overseeing the sales & marketing strategies for the products.

The Revenues from operations for the Fiscals ended on Mar 31, 2025, 2024 and 2023 were ₹ 6,256.23 Lakh, ₹ 652.31 Lakh and ₹ 4,185.74 Lakh. The EBITDA for the Fiscals ended on Mar 31, 2025, 2024 and 2023 were ₹ 740.59 Lakh, ₹ 230.05 Lakh and ₹ 137.21 Lakh. The Profit after Tax for the Fiscals ended on Mar 31, 2025, 2024 and 2023 were were ₹ 499.68 Lakh, ₹ 153.39 Lakh and ₹ 72.81 Lakh respectively. This indicates a steady growth in financial performance.

The Company Key Performance Indicates the pre-issue EPS of ₹ 9.1 and post-issue EPS of ₹ 6.29 for FY24. The pre-issue P/E ratio is 11.53x, while the post-issue P/E ratio is 16.69x. The company's ROCE for FY24 is 64.18%, ROE for FY24 is 45.37% and RoNW is 45.37%. These metrics suggest that the IPO is fairly priced.

The Grey Market Premium (GMP) of Renol Polychem showing listing gains of 5.71 %.Given the company's financial performance and the valuation of the IPO, we recommend Investors to Avoid to the Renol Polychem Limited IPO for Listing gain.

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About the Author
CA Abhay Kumar (Also known as  CA Abhay Varn) is a qualified Chartered Accountant by profession and cleared CA at age 21. He is a SEBI Registered Research Analyst with Registration Number - INH300008465. He Possesses 8+ years of experience in the Stock Market Field and has also worked in Big CA firms.