Incorporated in 2015, Manilam Industries India Limited is engaged in the manufacturing and sale of Decorative Laminates and Plywood.
The company has developed and launched several laminate collections, including the Artistica Collection, the Vogue Collection, the Dwar Collection, and the Magnificent Collection. In response to market demand and distributor feedback, additional collections such as Chromatic Tales, Flute, ECP, Wood & Veneer, and Wall Cladding have also been introduced. These collections cater to both residential and commercial applications, providing a wide range of designs and finishes.
In addition to laminates, the company is involved in the trading of plywood in different grades and sizes, primarily serving industrial and commercial sectors.
The company’s manufacturing plant is located at Village Manda, Bhojipura Nainital Road, Bareilly, Uttar Pradesh, covering an area of 20,650 square meters. It operates on a business-to-business (B2B) model, with distributors—both large and small—placing orders directly with the manufacturing plant.
To enhance customer engagement, Manilam Industries India Limited has established Experience Centres in major cities including Bangalore, Delhi, and Chennai. In Bangalore and Chennai, the company follows an integrated setup combining Service Depots with Experience Centres, offering display, stock, dispatch, and customer interaction from a single location. This setup enables customers to view products, receive expert guidance on colour and design combinations, and fulfil orders efficiently.
As of the date of the Draft Red Herring Prospectus, the company employed a total of 149 individuals, including workers on third-party contracts.
| Purpose | Amount (₹ Cr) |
|---|---|
| A. Capital Expenditure - Purchase of equipment/machinery of the Company. B. Capital Expenditure - Purchase and installation of Solar Panel Panels at the manufacturing plant. | ₹1.25 |
| Repayment in full or in part, of certain loans availed by the Company | ₹2.20 |
| Working Capital Requirements of the Company | ₹3.50 |
| General Corporate Purposes | ₹16.65 |
| Metric | 30 Sep 2025 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Total Assets | 159.99 | 158.98 | 149.56 |
| Revenue | 60.53 | 142.16 | 138.04 |
| PAT | 3.16 | 7.38 | 3.10 |
| EBITDA | 8.60 | 17.63 | 14.06 |
| Net Worth | 43.08 | 33.87 | 26.38 |
| Reserves | 25.93 | 31.57 | 24.08 |
| Total Borrowing | 58.05 | 62.44 | 73.49 |
- 1 Initiation of Refund 26 Feb 2026
- 2 Credit of Shares to Demat 26 Feb 2026
- Retail allocation is good at 33.3% of the total offering.
- HNI/NII demand is good at 14.3%.
- Institutional (QIB) interest is strong at 47.4%.
- The IPO P/E of 23.85x reflects a good valuation relative to typical market ranges.
- Pre-issue EPS of ₹4.30 compares to post-issue EPS of ₹2.89 after dilution.
This IPO shows moderate investor interest. Review financial details and compare valuation with industry peers before investing.
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