Phytochem Remedies (India) Ltd. IPO

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Phytochem Remedies (India) Limited is one of the leading manufacturers of high-quality corrugated packaging solutions in India. The Company specializes in the production of corrugated boxes, including printed boxes, rolls, pads, and sheets, offering customized packaging solutions tailored to the specific requirements of its clients. Incorporated in 2002, the Company commenced manufacturing operations in 2014 and has since built strong capabilities supported by modern manufacturing infrastructure.

Manufacturing Facilities and Infrastructure

The Company operates two strategically located manufacturing units at Bari Brahmana, Jammu, providing significant logistical and operational advantages. Unit 1 has an allocated area of 43,360 sq. ft., while Unit 2 spans 1,73,440 sq. ft.. A substantial portion of land remains unutilized, enabling future expansion through the installation of additional machinery to support growth in capacity and technology upgrades.

Production Capabilities and Technology

Manufacturing operations began with a semi-automatic production line in 2014, which continues to contribute to revenue and profitability. To further strengthen production capabilities, the Company established a fully automatic corrugated board plant in 2022 over an area of approximately 75,000 sq. ft., equipped with advanced technology to enhance efficiency, precision, and scalability. Capacity utilization has improved significantly, reflecting effective operational execution.

Product Portfolio and End-User Industries

Phytochem Remedies (India) Limited offers a well-diversified product portfolio comprising corrugated boxes with various flute combinations (A, B, C, AB, AC, BC), printed corrugated boxes, corrugated rolls, pads, and sheets. These products cater to a wide range of industries, including pharmaceuticals, agrochemicals, FMCG, and industrial packaging, ensuring diversified demand and reduced concentration risk.

Customer Base and Market Presence

The Company has built long-standing relationships with a stable and diversified customer base, including reputed industrial houses such as Cadila Pharmaceuticals Limited, UPL Sustainable Agri Solutions Limited, Coromandel International Limited, Dhanuka Agritech Limited, and others. Over the years, it has established a strong regional presence in Jammu while expanding its marketing and distribution network across multiple states in India.

Objects of the Phytochem Remedies (India) Ltd. IPO:

Company proposed to be utilized the Net Proceed for the following objects: 1. Capital expenditure requirements for the purchase of equipment/machineries (₹11.34 cr) 2. Capital expenditure requirements towards civil construction (₹6.21 cr) 3. Repayment/pre-payment, in full or in part, of certain borrowings (₹9.15 cr) 4. General Corporate Purpose

Phytochem Remedies (India) Ltd. IPO Details:

Open Date: Dec 18 2025
Close Date: Dec 22 2025
Total Shares: 39,00,000
Face Value: ₹ 10 Per Equity Share
Issue Type: Fixed Price
Issue Size: 38.22 Cr.
Lot Size: 1200 Shares
Issue Price: ₹ 98 Per Equity Share
Listing At: BSE SME
Listing Date: Dec 26 2025

Promoters And Management:

1. Niranjan Surana (55 years) is the Promoter, Chairman, and Managing Director of the Company and a Board member since 2011. He holds a Bachelor’s degree in Commerce and has over 27 years of manufacturing experience, with strong expertise in production, finance, polymers, extrusion technology, and SME finance. He leads the Company’s strategy, operations, and customer relationships. 2. Aditi Bohra (26 years) is the Promoter and Executive Director of the Company, on the Board since 2019 and redesignated in May 2025. She holds degrees in International Business and Business Strategy and Entrepreneurship and oversees administration, compliance, and strategic initiatives across finance, operations, and growth. 3. Vinendra Kumar Jain (56 years) is an Independent Director, a Chartered Engineer, and a Black Belt Negotiator with over 18 years of experience in EPC procurement for the oil and gas sector. He provides strategic inputs on procurement, supply chain optimization, and cost efficiency.

Financials of Phytochem Remedies (India) Ltd. IPO:

Particulars 6M FY2025-26 FY 2024-25 FY 2023-2024 FY 2022-2023
Revenue from Operations (Cr) 25 36.53 33 21
EBITDA (Cr) 6.7 8.7 5.9 2.9
EBITDA Margins 27% 24% 18% 14%
PAT (Cr) 3.8 4.5 2.3 0.8
PAT Margins 15.12% 12.3% 7.0% 3.9%
ROCE 18.3% 25.3% 18.1% 11.9%
D/E Ratio 1.14 1.42 2.41 3.16
OPerating Cash Flow 0.7 4.7 0.4 -0.6

Comparison With Peers:

Companies Revenue (in cr) EBITDA Margins PAT Margins ROCE D/E Ratio MCap (in cr) P/E
Phytochem Remedies (India) Limited 36.53 24% 12.3% 25.3% 1.42 115.39 25.81
Perfectpac Ltd 113 6% 3% 12% 0.02 60 16
Worth Peripherals Ltd 276 10% 6% 13% 0.1 228 13.4
G K P Printing & Packaging Ltd 30.12 6.04% 2.80% 4.87% 0.09 15.1 18.4
Note : Forward P/E is 15.18 According to FY26 PAT

Lead Manager of Phytochem Remedies (India) Ltd. IPO:

  1. Mefcom Capital Markets Limited

Registrar of Phytochem Remedies (India) Ltd. IPO:

  1. Bigshare Services Private Limited

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