Kanishk Aluminium India Limited IPO

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Kanishk Aluminium India Limited was incorporated on December 5, 2018, specializes in the manufacturing of a wide range of aluminium extrusion products, including solid and hollow section profiles, solar profiles, railings, heatsinks, and window and door profiles. Its products cater to multiple industries such as electronics, automotive, solar, electrical, furniture, transport, mechanical engineering, and architecture.

Brand – Baari by Kanishk

In November 2024, the Company launched its premium aluminium systems brand “Baari by Kanishk”, focused on aluminium doors and window solutions. The brand offers sliding doors, casement systems, lift-and-slide doors, folding doors, and fixed panels. Complete frames are manufactured in-house, while surface treatments like anodizing and powder coating are carried out through trusted partners. Fabrication and installation are closely supervised to ensure quality.

Product Portfolio & Applications

Kanishk Aluminium offers a diverse portfolio including aluminium channels, sections, flat bars, tubes, kitchen profiles, railing systems, architectural solutions, hardware items, and engineering components. These products are used in solar panel frames, automotive parts, transportation systems, electrical applications, and architectural structures such as doors and window frames.

Competitive Strengths

i) Diverse and customizable product portfolio
ii) Strong focus on quality and process control
iii) In-house die ownership enabling flexibility and customization
iv) Established supplier relationships
v) Growing national footprint through exclusive fabricator partnerships

Objects of the Kanishk Aluminium India Limited IPO:

The company proposes to utilize the net proceed for the following objects: i) Repayment or pre-payment of certain borrowings (₹19.5 cr) ii) Branding and Promotion of Company brand, "Baari by Kanishk" (₹0.79 cr) iii) General corporate purposes (₹4.32 cr)

Kanishk Aluminium India Limited IPO Details:

Open Date: Jan 28 2026
Close Date: Jan 30 2026
Total Shares: 40,00,000
Face Value: ₹ 10 Per Equity Share
Issue Type: Fixed Price
Issue Size: 29 Cr.
Lot Size: 1600 Shares
Issue Price: ₹ 73 Per Equity Share
Listing At: BSE SME
Listing Date: Feb 04 2026

Promoters And Management:

1. Mr. Parmanand Agarwal is the Promoter and Chairman-cum-Managing Director of the Company. He holds a Bachelor of Commerce degree from the University of Jodhpur and has over four decades of experience in the aluminium manufacturing industry. His expertise spans financial management, budgeting, business development, expansion strategies, and overall operations. Associated with the Company since its incorporation on December 5, 2018, he was redesignated as Chairman-cum-Managing Director for a three-year term from September 25, 2024, to September 24, 2027. 2. Mrs. Khushboo Agarwal is the Promoter and Whole-time Director of the Company. She has completed her Higher Secondary education from the Board of Secondary Education, Rajasthan, and brings over 13 years of experience in administration, leadership, and management. She has been associated with the Company since its incorporation and was redesignated as Whole-time Director for a three-year term effective September 25, 2024. 3. Mr. Ashish Agarwal is the Whole-time Director of the Company. He has completed his Higher Secondary education from the Board of Secondary Education, Rajasthan, and has over 19 years of experience in the aluminium manufacturing industry and business operations. He joined the Company as Executive Director on May 1, 2024, and was redesignated as Whole-time Director for a three-year term effective September 25, 2024.

Financials of Kanishk Aluminium India Limited IPO:

Particulars 5M FY2025-26 FY 2024-25 FY 2023-2024 FY 2022-2023
Revenue from Operations (Cr) 29 60 59 59
EBITDA (Cr) 4 7 4.5 4
EBITDA Margins 34% 11% 8% 7%
PAT (Cr) 2 3 1.5 1.7
PAT Margins 18% 5% 3% 3%
ROCE 20% 15% 11% 11%
D/E Ratio 1.37 1.37 1.54 4.40
OPerating Cash Flow -2 -1.8 3 -2

Comparison With Peers:

Companies Revenue (in cr) EBITDA Margins PAT Margins ROCE MCap (in cr) P/E
Kanishk Aluminium India Limited 60 11% 5% 15% 98.1 32.7
Maan Aluminum Limited 810 4% 1.98% 12% 871 56.2
Banco Products (India) Limited 3213 19% 12.20% 32.40% 8239 19.1
Note : Forward P/E is 20.4 According to FY26 PAT

Lead Manager of Kanishk Aluminium India Limited IPO:

  1. Sun Capital Advisory Services (P) Ltd

Registrar of Kanishk Aluminium India Limited IPO:

  1. Kfin Technology Private Limited

Discussion on Kanishk Aluminium India Limited IPO:

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