Renol Polychem IPO

About Renol Polychem IPO

The offer consists of a fresh issue component. The fresh issue will include up to 24,54,000 equity shares. The total number of shares in a lot is 1200 and the aggregate amount is ₹25.77 crores. Renol Polychem Limited specialises in manufacturing customised masterbatch and pigments to suit the specific requirements of their customers/manufacturers. The company also provides solutions such as all-in-one additives containing stabilisers, impact modifiers, colour pigments, etc., to help the manufacturers/producers of UPVC & CPVC pipes, pipe fittings, and other plastic products. They run their business on a B2B basis, selling or distributing their products directly to business, manufacturing or commercial organisations that manufacture end products using their products as raw materials.

Objectives of Renol Polychem IPO

• To meet the capital expenditure requirements for the purchase of machinery.
• Repayment of certain borrowings.
• To meet the working capital requirements.
• To meet the general corporate purposes.

Industry Outlook

India Masterbatch Market size was valued at USD 1,240 crore in 2023 and the total India Masterbatch Market revenue is expected to grow at a CAGR of 4.8% from 2024 to 2030, reaching nearly USD 1,722 crore. India's masterbatch refers to a concentrated mixture of pigments, additives, or modifiers that are used in plastic processing to impart colour, enhance properties, or improve processing characteristics. It is extensively used across various industries like packaging, automotive, construction, and more to improve the performance and aesthetics of plastic products. The Masterbatch Market in India has experienced substantial growth owing to the rising demand for plastic products in different sectors. It includes the production, distribution, consumption, and trade of these masterbatch products, considering factors such as demand, supply chain dynamics, and technological advancements. The India Masterbatch Market has witnessed significant growth due to the expanding applications of plastics in various industries. The market's growth is propelled by the country's favourable government policies, which support the manufacturing sector.

Western India leads the Masterbatch Market in India. The region encompasses key industrial zones and harbours major manufacturing hubs. Gujarat, a significant state within Western India, hosts multiple industries, including plastics, packaging, automotive, and textiles, contributing substantially to the masterbatch market. The vibrant chemical and polymer industries in Gujarat, supported by the presence of industrial clusters like Ankleshwar and Vapi, drive the demand for masterbatch products. Maharashtra, another prominent state in this region, hosts a multitude of manufacturing units, further augmenting the market. The concentration of plastic, packaging, and automobile industries in Maharashtra, particularly in cities like Mumbai and Pune, fuels the demand for masterbatches. Southern India exhibits promising potential for future growth in the India Masterbatch Market. States like Tamil Nadu and Karnataka are witnessing a surge in industrial activities, especially in the plastics and packaging sectors.

The robust growth of the automotive and electronics industries in these states contributes significantly to the demand for masterbatch products. Additionally, the establishment of manufacturing clusters and industrial zones in cities like Chennai, Coimbatore, and Bengaluru creates a conducive environment for India Masterbatch Market growth. Tamil Nadu, in particular, is emerging as a key hub for plastic-related industries, attracting investments and driving the demand for masterbatch materials. The growing emphasis on innovation and technological advancements in the plastics processing and packaging sectors in Southern India positions the region for substantial growth in the forecast period.

Company Information

Renol Polychem Limited is engaged in the manufacturing of colour masterbatches, colour pigment, filler granule, anti-moisture powder, carbon noodles, superpack & onepack, impact modifier, processing aid and titanium dioxide. They started their operations/business at Rajkot in 2008 and commenced their manufacturing operations in 2020. The company also specialises in manufacturing of customised masterbatch and pigments to suit the specific requirements of their customers/manufacturers. They also provide solutions such as all-in-one additive containing stabilisers, impact modifier, colour pigments etc. to help the manufacturers/producers of UPVC & CPVC pipes, pipe fittings and manufacturing of other plastic products.

Their growth has been largely due to confidence in their own capability, infrastructure and team created over the years. The company has been steadily diversifying as well as adding new products to its portfolio, besides adding additional infrastructure for increasing its manufacturing capability for its existing products. They actively work for the benefit of their employees and labourers with prime focus being health, hygiene and welfare of the workforce to ensure that the safety and management norms are being complied with.

Strengths of Renol Polychem IPO

• Rich management experience.
• Diversified product range appealing to a wide range of customers.
• Cordial relationship with the customers/vendors and established manufacturing facility.
• Experience of our Promoter and core management team
• Quality Assurance, cost competitiveness and time bound delivery

Risks of Renol Polychem IPO

• Extensive government regulation and the impact of plastics.
• Any shutdown of their manufacturing unit.
• Operations geographically located in one area, i.e. the State of Gujarat.
• Increase in the prices of their basic raw material.
• Dependent on third-party transportation providers for the delivery of their products.

Anchor Investor Bidding Date: 30 July 2025

*The Company may, in consultation with the Book Running Lead Manager, consider participation by Anchor Investors in accordance with the SEBI ICDR Regulations. The Anchor Investor Bid/ Issue Period shall be one Working Day prior to the Bid/Issue Opening Date.

Registrar: Skyline Financial Services Private Limited Book Running Lead Managers: Corporate Makers Capital Limited

Business Model

The company earns its revenue from the following: Manufacturing of colour masterbatches, colour pigment, filler granule, anti-moisture powder, carbon noodles, superpack & onepack, impact modifier, processing aid and titanium dioxide. The company also specialises in manufacturing of customised masterbatch and pigments to suit the specific requirements of their customers/manufacturers. They also provide solutions such as all-in-one additive containing stabilisers, impact modifier, colour pigments etc. to help the manufacturers/producers of UPVC & CPVC pipes, pipe fittings and manufacturing of other plastic products.

Company Growth Trajectory

The company's total income increased from ₹52.54 crores in the year ended 31 March 2024 to ₹62.56 crores in the year ended 31 March 2025, with a resultant increase of 19.07%.

Revenue from operations increased from ₹52.26 crores in the year ended 31 March 2024 to ₹62.30 crores in the year ended 31 March 2025, with a resultant increase of 19.20%. Other income decreased from ₹0.28 crores in the year ended 31 March 2024 to ₹0.26 crores in the year ended 31 March 2025, with a decrease of 6.47%.

Net profit after tax increased from ₹3.94 crores in the year ended 31 March 2024 to ₹5.00 crores in the year ended 31 March 2025, with a resultant increase of 26.67%. The major increase is due to higher sales of goods, which form the major portion of the company's operations.

Company Market Position

The company is currently located in Rajkot, Gujarat. Going forward they intend to establish their customer base in other locations of the country. Further the Company has participated in various seminars and exhibitions viz Karnataka and Telangana to expand and explore the opportunities in other states, as part of their PAN India expansion plans. Their revenue from operations for the states of Gujarat, Tamil Nadu, Karnataka and other states like Chattisgarh, Madhya Pradesh, Maharashtra, Rajasthan, Uttar Pradesh, Uttarakhand, Delhi, Haryana, (Andhra Pradesh, Dadra and Nagar Haveli, Punjab, West Bengal and Chandigarh) as on 31st March 2025 was ₹59.810 crores, ₹0.454 crores, ₹0.534 crores, and 1.501 crores respectively.

As on 31st March 2025, their Total Income, Profit After Tax and EBITDA stood at ₹ 62.562 crores, ₹4.997 crores, and ₹7.075 crores respectively.

How to check allotment status of Renol Polychem IPO?

1. Visit the Registrar's Website

To check the IPO allotment status for Renol Polychem Limited IPO, visit the official website of Skyline Financial Services Private Limited, the registrar for this IPO. On their IPO allotment status page, enter your Permanent Account Number (PAN), application number, or Demat account ID. Then, click the ‘Submit’ button to view your allotment status. Ensure you have the necessary details ready for a quick and accurate check.

2. Check on the Bombay Stock Exchange Website

The Bombay Stock Exchange (BSE) also has an IPO allotment status page. Go to www.bseindia.com and find the 'Investors' tab. Under 'Investors', click on 'IPO'. This will take you to the IPO allotment status page.

On the BSE IPO page, follow these steps

• Select 'Equity' from the dropdown menu
• Choose 'Renol Polychem Limited' in the next dropdown
• Enter your application number
• Enter your PAN
• Click 'Search'

Your Renol Polychem Limited IPO allotment status will be displayed.

3. Verify on the National Stock Exchange Website

The National Stock Exchange (NSE) has an IPO Bid Verification module. Use this to check Renol Polychem Limited IPO allotment status.

Go to www.nseindia.com and find the 'Invest' tab. Click on 'Verify IPO Bids' under 'Resources & Tools'.

On the NSE IPO Bid Verification page, enter:

• Application number
• PAN

Then click 'Submit'. Your Renol Polychem Limited IPO bid and allotment details will be displayed.

How to apply for Renol Polychem IPO?

• Step 1: Log in to your Kotak Securities Demat account - Log in to your Demat account to access IPO investments. Next, select the current IPO section.
• Step 2: Specify IPO details - Enter the number of lots and the price you wish to apply for.
• Step 3: Enter UPI ID - After entering your UPI ID, click submit. This will place your bid with the exchange.
• Step 4: Mandate Notification - Your UPI app will receive a mandate notification to block funds.
• Step 5: Approve Request - Your funds will be blocked once you approve the mandate request on your UPI.