Sundrex Oil Company Limited IPO

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Sundrex Oil Company Limited was incorporated on May 8, 2010 as a public limited company under the Companies Act, 1956 and is headquartered in Kolkata, West Bengal. It has established itself as a reliable manufacturer and wholesaler of lubricants and allied industrial products, catering to customers in India and select international markets.

Business Profile

The Company is engaged in the manufacturing and wholesale of industrial lubricants, automotive lubricants, greases, transformer oils and specialty formulations. Its product range includes hydraulic oils, gear oils, transmission oils, metalworking fluids, bituminous products and IS:335 certified transformer oils, serving a wide spectrum of industrial and automotive applications.

Revenue Mix and Business Model

Sundrex Oil operates predominantly on a B2B model, which contributes approximately 99% of total revenues, while the B2C segment currently accounts for about 1%. In addition to its own branded products, the Company offers contract manufacturing services such as toll blending, contract packaging and private labeling, enabling clients to market high-quality lubricant products without investing in manufacturing infrastructure.

Business Segments

The Company operates across four key segments:

i) Industrial Lubricants, which form the core revenue base
ii) Contract Manufacturing Services, including toll blending and private labeling
iii) Automotive Lubricants, catering to the automotive sector
iv) Retail (B2C) Business, currently at a nascent stage with future growth potential

Geographic Presence

Sundrex Oil has a pan-India presence across states such as Assam, Odisha, Rajasthan and Uttar Pradesh. Internationally, the Company exports its products to markets including UAE, Bangladesh and Bhutan, supporting its export-led growth strategy.

Objects of the Sundrex Oil Company Limited IPO:

Company intends to utilize the issue proceeds to meet the following objects: 1. Working capital requirements (₹20.87 cr) 2. To meet Capital Expenditure (₹0.73 cr) 3. Prepayment and repayment of all or a portion of certain secured and unsecured loan (₹2.58 cr) 4. General Corporate Purpose 5. Offer expenses
DRHP of Sundrex Oil Company Limited IPO
RHP of Sundrex Oil Company Limited IPO

Sundrex Oil Company Limited IPO Details:

Open Date: Dec 22 2025
Close Date: Dec 24 2025
Total Shares: 37,50,400
Face Value: ₹ 10 Per Equity Share
Issue Type: Book Building
Issue Size: 32.25 Cr.
Lot Size: 1600 Shares
Issue Price: ₹ 81-86 Per Equity Share
Listing At: NSE Emerge
Listing Date: Dec 30 2025

Promoters And Management:

1. Mr. Mahesh Sonthalia – Promoter, Chairman & Managing Director, A founder-promoter with over 36 years of experience in the lubricants and petroleum products industry. He holds a B.Com and a Diploma in Business Management and provides strategic leadership, leveraging decades of expertise in trading, marketing, and distribution. He plays a key role in long-term vision, governance, and business expansion. 2. Mr. Shashank Sonthalia – Promoter, Whole-time Director & CEO, With over 14 years of industry experience, he holds a B.Com (Hons.) and is a Chartered Financial Analyst. He leads strategy, operations, and network expansion, playing a key role in scaling the Company’s business. He focuses on modernizing operations and strengthening the Company’s market presence. 3. Mr. Radhagobinda Chowdhury – Whole-time Director, A seasoned professional with over 42 years of experience in the lubricants industry. He oversees day-to-day operations, quality control, and process execution, ensuring operational stability and efficiency. He contributes deep technical knowledge and operational discipline to the management team.

Financials of Sundrex Oil Company Limited IPO:

Particulars 3M FY2025-26 FY 2024-25 FY 2023-2024 FY 2022-2023
Revenue from Operations (Cr) 19 67 48 27
EBITDA (Cr) 2.6 7 4 2
EBITDA Margins 14% 10% 9% 6%
PAT (Cr) 1.94 5.44 2.56 0.39
PAT Margins 10.4% 8.1% 5.3% 1.45%
ROCE 9% 27% 28% 13%
D/E Ratio 0.99 1.14 3.43 7.04
OPerating Cash Flow -2.68 -0.78 0.11 -2.4

Comparison With Peers:

Companies Revenue (in cr) EBITDA Margins PAT Margins ROCE D/E Ratio MCap (in cr) P/E
Sundrex Oil Company Limited 67 10% 8.1% 27% 1.14 115.2 21.2
Arabian Petroleum Limited 285 6% 3.16% 18.70% 0.58 80 7.2
Note : Forward P/E is 14.84 According to FY26 PAT

Lead Manager of Sundrex Oil Company Limited IPO:

  1. Affinity Global Capital Markets Pvt Ltd

Registrar of Sundrex Oil Company Limited IPO:

  1. Cameo Corporate Services Limited

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