Shree TNB Polymers IPO

GMP History

Financial Performance

As disclosed by Shree TNB Polymers in its offer document.

Strengths and risks

Taken from Shree TNB Polymers's own offer document — not Arthneeti's assessment.

• ✓The company claims to have a promoter-driven management team with extensive experience across the polymers, trading and manufacturing segments.
• !The company derives a significant portion of its revenue from operations from its top 10 customers, which contributed Rs 59.34 crore in FY26, Rs 51.11 crore in FY25 and Rs 56.12 crore in FY24, representing 29.97%, 29.11% and 27.04%, respectively. Any reduction, delay or cancellation of orders, loss of key customers or inability to secure favorable terms could adversely affect revenues, cash flows and results of operations.
• ✓The company claims to offer a diversified portfolio comprising HDPE pipes and fittings, PP and PPH pipes and fittings, DWC pipes, sprinkler pipes, drip irrigation systems, solid industrial sheets and Well Pack sheets. These products are claimed to serve applications across infrastructure, agriculture, packaging, and industrial sectors, enabling the company to reach a broad customer base across India.
• !Trade payables stood at Rs 35.27 crore in FY26, Rs 32.40 crore in FY25, and Rs 26.82 crore in FY24. The company has an average payable period of 83 days and relies on supplier credit for procurement of raw materials. Any significant delay or inability to meet payment obligations could affect supplier relationships, purchases, profitability, cash flows, and liquidity.

About Shree TNB Polymers

Shree TNB Polymers Limited is a polymer manufacturing company that produces, sells, and distributes piping systems and plastic solutions. Its product portfolio includes HDPE pipes and fittings, PP and PPH pipes and fittings, DWC pipes, sprinkler pipes, drip irrigation systems, solid industrial sheets and Well Pack sheets for infrastructure, agriculture, packaging and industrial applications. The company operates under the brands “NOBLE” for its piping division, “TIRUPATI” for solid industrial sheets and “WELLPACK” for corrugated/flute board sheets. The company is ISO 9001:2015 and ISO 14001:2015 certified. Its manufacturing and quality systems are supported by BIS and other applicable standards covering water supply, sewerage, DWC, drip irrigation, lateral and sprinkler pipes. The company has manufacturing facilities in Silvassa, Dadra and Nagar Haveli, spread across 23,028 sq. m., with a combined installed capacity of 24,000 MT per annum across its product range.