Antala Industries IPO

GMP History

Financial Performance

As disclosed by Antala Industries in its offer document.

Strengths and risks

Taken from Antala Industries's own offer document — not Arthneeti's assessment.

• ✓Antala Industries is engaged in the manufacture of five categories of packaging products, including BOPP bags, BOPP printing rolls, BOPP lamination rolls, PP woven bags, and PP woven lamination rolls. It caters to industries such as cement, chemicals, fertilisers, FMCG, and textiles.
• !Despite a decline in customer concentration over the years, Antala Industries continues to derive a significant portion of its revenue from its top 10 customers. These customers contributed Rs 11.80 crore (94.28%) in FY24, Rs 14.93 crore (46.87%) in FY25, and Rs 22.48 crore (47.43%) in FY26 to its revenue from operations, respectively. The loss of major customers or a reduction in their orders could adversely affect the company's revenue and profitability.
• ✓The company has seen a consistent increase in revenue from operations and profit after tax (PAT). The revenue from operations increased from Rs 12.51 crore in FY24 to Rs 31.85 crore in FY25 and Rs 47.40 crore in FY26. Its profit after tax (PAT) also increased from Rs 0.88 crore to Rs 1.82 crore and Rs 4.24 crore during the same periods, respectively.
• !The company's revenue is geographically concentrated in Gujarat, which accounted for Rs 12.45 crore (99.49%), Rs 25.55 crore (80.22%), and Rs 33.70 crore (71.08%) of its revenue from operations in FY24, FY25, and FY26, respectively. Any adverse economic, regulatory or operational developments in the state could significantly affect the company's business and financial performance.

About Antala Industries

Antala Industries Limited is engaged in the manufacturing, processing, printing, laminating and supply of industrial and commercial packaging products. The company's product portfolio includes Biaxially Oriented Polypropylene (BOPP) bags, BOPP printing rolls, BOPP lamination rolls, polypropylene (PP) woven bags, and PP woven lamination rolls. The company supplies packaging products to industries such as food processing, fertilisers, chemicals, cement, construction, textiles, and seeds. Its products are available in different sizes, capacities, and specifications, with customisation options for printing, lamination, and finishing. The company operates a manufacturing facility in Rajkot, Gujarat, equipped with machinery for extrusion lamination, rotogravure printing, multicolour printing, cutting, stitching, and finishing. The facility supports various stages of production, from printing and lamination to the packaging of finished products. The company was originally established as a partnership firm under the name M/s Octagon Industries on April 30, 2021, and was subsequently converted into a public limited company under the name Antala Industries Limited on August 5, 2024. Use of proceeds: The IPO is a fresh issue of shares. The proceeds from the issue will be used for the following purposes: To meet working capital requirements - Rs 10.68 crore To meet the requirements of capital expenditure towards purchase of machinery -Rs 5.89 crore General corporate purposes