Anubhav Plast Ltd.
PROSPECTUS · filed 19 Jun 2026
Anubhav Plast Ltd. is a company that generates revenue from private clients and government entities, with a recent revenue of Rs 80.49 crore and a profit after tax of Rs 5.30 crore. The offer is structured as an offer for sale, and the company has a debt-to-equity ratio of 1.67. The financial trajectory shows a revenue CAGR of -2.61% and a return on equity of 25.41%. Material risks include high customer concentration, related party transactions with a major client accounting for over 37% of revenue, and uncertainties regarding government contract awards and delays in realizing dues.
What stands out
Shrinking revenue. Restated revenue CAGR of -2.6%.
Risk factor. A significant portion of revenue is derived from private clients and government entities; loss of significant non-government customers, reduction or cancellation of orders, or inability to secure repeat business could adversely affect revenues.
Risk factor. The company has entered into related party transactions with Anubhav Tubes & Conductors Private Limited (ATCPL), a major customer, accounting for 23.42%, 39.73%, 29.74%, and 37.42% of revenue for FY 2025, FY 2023, FY 2024 and FY 2025 respectively.
Healthy return on equity. ROE of 25.4%.
How the offer is structured
- Establishment of a new manufacturing facility for the production of crash barriers and solar panel structures within the existing manufacturing premises₹2.2 Cr
- To meet Working Capital requirements₹13.8 Cr
- General Corporate Purpose₹3.4 Cr
Restated financials
Revenue
₹80.5 Cr
Latest fiscal year
Profit after tax
₹5.3 Cr
Revenue CAGR
-2.6%
Return on equity
25.4%
Debt / equity
1.67
P/E at upper band
10.68
Only in a priced RHP
PAT CAGR
92.4%
| Fiscal year | Revenue | EBITDA | PAT | Net worth |
|---|---|---|---|---|
| 2022 | ₹87.1 Cr | ₹0.7 Cr | ₹7.5 Cr | |
| 2023 | ₹87.3 Cr | ₹2.1 Cr | ₹9.6 Cr | |
| 2024 | ₹98.2 Cr | ₹6.0 Cr | ₹15.5 Cr | |
| 2025 | ₹80.5 Cr | ₹5.3 Cr | ₹20.8 Cr |
Risks the company discloses
A significant portion of revenue is derived from private clients and government entities; loss of significant non-government customers, reduction or cancellation of orders, or inability to secure repeat business could adversely affect revenues.(Customer Concentration)
The company has entered into related party transactions with Anubhav Tubes & Conductors Private Limited (ATCPL), a major customer, accounting for 23.42%, 39.73%, 29.74%, and 37.42% of revenue for FY 2025, FY 2023, FY 2024 and FY 2025 respectively.(Related Party Transactions)
The company has not been able to identify all entities considered part of the Promoter Group under SEBI regulations due to the Relevant Persons (immediate relatives of Promoters) not providing requisite confirmations, undertakings, or personal information.(Promoter Group Disclosures)
The award of government contracts involves multiple uncertainties, including changes in procurement policies, delays in tender issuance or evaluation, disqualification on technical or commercial grounds, changes in project scope, or cancellation of awarded contracts.(Government Contract Risks)
Revenue from government entities increased to 25.72% in FY 2024-25 from 1.80% in FY 2022-23, but remains a smaller portion compared to private sector clients.(Government Contract Risks)
Any adverse change in government spending, budgetary allocations, or policy priorities particularly in infrastructure, electricity distribution, or rural development may reduce the number or size of contracts available for bidding.(Government Contract Risks)
Increased competition in the tendering process may lead to pressure on pricing and margins, which could adversely affect profitability.(Government Contract Risks)
Delays in realization of dues from private and corporate clients may adversely impact the working capital cycle, affecting liquidity and overall financial performance.(Working Capital & Liquidity)
How this document reads, dimension by dimension
Each bar is a fixed formula applied to the figures shown above, scored 0–100. This is a reading of what the company disclosed — not a recommendation to apply or avoid, not a price target, and not a prediction of listing performance. Dimensions that could not be extracted are excluded rather than assumed, so coverage varies between documents.