Diksha Polymers Ltd IPO

Plastic products

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Price Band

₹112 – ₹112

Lot Size

1200

Minimum Bid Quantity

2400

Minimum Investment

₹268800

Issue Size

₹17.9Cr

Opens

2026-06-17

Closes

2026-06-19

Listing

24-06-2026

IPO Details

Issue Type

EQUITY

Face Value

₹10

Tick Size

1

ISIN

INE1OSI01014

Pre-Apply Available

No

Daily Bidding Time

10:00:00 - 17:00:00

About the Company

Diksha Polymers Limited is a manufacturer of PET bottles, containers, and PET preforms. PET bottles and containers are used for storing products such as beverages, edible oils, pharmaceuticals, agrochemicals, lubricants, and consumer goods, while PET preforms serve as the raw material for manufacturing PET containers. The company also derives a small portion of its revenue from the sale of caps, scrap, and waste materials. Its products are manufactured using injection moulding and blow moulding processes, with product weights ranging from 8 grams to 250 grams. The company operates three manufacturing facilities located in the Industrial Area, Maharajpura, Gwalior, Madhya Pradesh, spread across a total area of 26,879 sq. ft. As of March 31, 2026, these facilities had an installed production capacity of 2,163 MTPA for PET bottles and containers and 1,913 MTPA for PET preforms. Following the acquisition of the business of Diksha Packaging in September 2024, the company integrated the manufacturing of PET preforms into its operations.

Pros

  • • The company operates an integrated manufacturing setup for both PET preforms and PET bottles/containers. Following the acquisition of Diksha Packaging’s business in September 2024, it integrated PET preform manufacturing into its operations, allowing it to manufacture a key raw material in-house rather than sourcing it externally.
  • • Diksha Polymers claims to operate three manufacturing facilities located in the Maharajpura Industrial Area of Gwalior, Madhya Pradesh, spread across a total area of 26,879 sq. ft. As of March 31, 2026, the facilities had an installed capacity of 2,163 MTPA for PET bottles and containers and 1,913 MTPA for PET preforms.
  • • The company claims that its integrated production process enables it to manufacture PET preforms and convert them into finished PET bottles and containers. This allows it to sell both intermediate products (preforms) and finished products, providing multiple revenue streams within the same value chain.

Cons

  • • PET bottles/containers and PET preforms contribute a substantial portion of the company’s revenue. PET bottles and containers contributed Rs 36.56 crore (71.30%) in FY26, Rs 34.25 crore (80.16%) in FY25, and Rs 18.13 crore (91.92%) in FY24, while PET preforms contributed Rs 13.23 crore (25.81%), Rs 7.77 crore (18.20%), and Rs 0.67 crore (3.42%) during the same period. Any reduction in demand for these products or any disruption in their manufacturing could adversely affect the company’s business, financial condition, and results of operations.
  • • The company is highly dependent on a limited number of suppliers for the procurement of raw materials. The top 10 suppliers accounted for Rs 44.46 crore (99.67%), Rs 40.48 crore (98.30%), and Rs 18.51 crore (99.94%) of total purchases in FY26, FY25, and FY24, respectively, while the single largest supplier contributed Rs 31.94 crore (71.59%) of purchases in FY26. Any disruption in supply, deterioration in supplier relationships, or inability to source raw materials from alternative suppliers could adversely affect the company’s operations, production schedules, and financial condition.
  • • The company derives a significant portion of its revenue from a limited number of customers. The top 10 customers contributed Rs 45.60 crore (88.93%), Rs 39.59 crore (92.67%), and Rs 18.68 crore (94.69%) of revenue in FY26, FY25, and FY24, respectively, while the single largest customer accounted for Rs 16.65 crore (32.46%) of revenue in FY26. Any failure to retain these key customers, reduction in orders from them, or delays in receiving payments could adversely affect the company’s revenue, profitability, and cash flow.

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