Valplast Technologies Limited IPO

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Valplast Technologies Limited was originally incorporated as Renesco India Private Limited in Delhi on January 10, 2014, as a subsidiary of a foreign company. Following a shareholders’ resolution on December 21, 2020, it was renamed Valplast Technologies Private Limited. The company converted to a public limited entity on August 18, 2023, adopting the name Valplast Technologies Limited.

Business Activities

Valplast Technologies is a civil engineering and construction company specializing in:

1. Structural Waterproofing Systems
2. Injection Grouting Solutions for underground structures, tunnels, landfills, dams, canals, shafts, reservoirs, and buildings
3. Tunnel Construction and Precast Concrete Structures
4. Mechanical, Electrical, and Plumbing (MEP) services in tunnels and underground projects
5. Slope Stabilization and Retaining Walls

The company serves sectors including defense, railways, infrastructure, and private civil construction projects, operating both as a sub-contractor and a direct contractor.

Geographical Presence and Projects

Valplast Technologies operates in 9 Indian states, with a portfolio of over 40 completed projects in defense, railway, and infrastructure sectors. Key services include water-proofing, injection grouting, and complex tunnel construction projects.

Competitive Strengths

i) Experienced Management Team – Leadership with extensive industry knowledge and strong client and supplier relationships.

ii) Optimal Resource Utilization – Efficient project execution, modernized machinery, and skilled workforce.

iii) Diversified Revenue – Operations across multiple geographies, mitigating market risks and enhancing client reach.

Objects of the Valplast Technologies Limited IPO:

Company intends to utilize the net proceeds of the Issue to meet the following objects: - 1. Capital expenditure requirements by purchase of Plant and Machinery (₹4.95 cr) 2. Working Capital Requirement (₹14 cr) 3. General Corporate Purposes

Valplast Technologies Limited IPO Details:

Open Date: Sep 30 2025
Close Date: Oct 03 2025
Total Shares: 52,02,000
Face Value: ₹ 10 Per Equity Share
Issue Type: Book Building
Issue Size: 28.09 Cr.
Lot Size: 2000 Shares
Issue Price: ₹ 51-54 Per Equity Share
Listing At: BSE SME
Listing Date: Oct 08 2025

Promoters And Management:

1. Sanjay Kumar (56) – Promoter & Managing Director. A civil engineering graduate from Kuvempu University (1994) with a PG Diploma in Construction Management (1999), he has 16+ years in civil construction. He oversees overall operations, policy formulation, business development, sales, marketing, and tendering, driving the company’s growth since inception. 2. Rajeev Tyagi (60) – Promoter, Whole-time Director & Company Secretary. A qualified Company Secretary since 1999 with 19 years of experience (11 in civil construction), he manages legal and secretarial compliance. 3. Madhunita (47) – Promoter & Non-Executive Director. A B.Sc. graduate with 5 years of experience in civil construction, she was appointed as non-executive director on August 20, 2024. She provides strategic guidance on corporate governance, assists in business planning, and supports stakeholder engagement.

Financials of Valplast Technologies Limited IPO:

Particulars FY2024-2025 FY 2023-2024 FY 2022-2023
Revenue from Operations (Cr) 63.24 64.94 27.21
EBITDA (Cr) 12.71 9.98 3.12
EBITDA Margins 20.10% 15.37% 11.50%
PAT (Cr) 6.11 6.52 1.25
PAT Margins 9.66% 10.04% 4.59%
ROCE 20.15% 26.88% 8.59%
Debt to Equity Ratio(In Times) 0.75 0.26 0.26
Operating Cash Flows (Cr) 0.98 1.8 -1.69

Comparison With Peers:

Companies Revenue (in cr) EBITDA Margins PAT Margins ROCE D/E Ratio MCap (in cr) P/E
Valplast Technologies Limited 63.24 20.10% 9.66% 20.15% 0.75 105.99 17.35
SRM Contractors Limited 527 15% 9.49% 31.00% 0.15 1,244 21.2

Lead Manager of Valplast Technologies Limited IPO:

  1. Fintellectual Corporate Advisors Private Limited

Registrar of Valplast Technologies Limited IPO:

  1. Bigshare Services Private Limited

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