Glen Industries Limited IPO
Glen Industries Limited was originally incorporated as “GLEN Stationery Private Limited” on October 5, 2007, in West Bengal under the Companies Act, 1956. Initially focused on manufacturing stationery and printing materials. In 2024, the company transitioned to a public limited entity, adopting the name Glen Industries Limited.
Business Activities
Glen Industries is a leading manufacturer of food packaging and service products, specifically catering to the Hotel, Restaurant, and Café (HoReCa) segment, QSRs, and the dairy and beverage industry. Their core product categories include:
a) Thin Wall Food Containers
b) Polylactic Acid (PLA) Straws
c) Paper Straws
With a strong focus on sustainability, the company uses eco-friendly materials like PLA and paper and adheres to global food safety standards.
Manufacturing Capacity & Infrastructure
The company commenced operations in 2019 with a capacity of 195 Metric Ton/month for thin wall containers. Over the years, this capacity has expanded to:
i) 665 MT/month for containers (currently at full capacity)
ii) 160 MT/month for PLA straws
iii) 95 MT/month for paper straws
Advanced machinery, including all-electric injection molding machines from Japan and China, is used to ensure precision, hygiene, and efficiency. The facility is ISO-certified and follows strict quality protocols.
Glen Industries offers a wide range of customization options—like digital printing, shrink sleeving, and pad/screen printing—enabling clients to tailor packaging to their branding and product needs.
Geographical Presence
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Registered Office: New Alipore, Kolkata, West Bengal
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Manufacturing Unit: Poly Park, Dhulagarh, Howrah, West Bengal
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The company caters to both domestic and international markets, with regular exports to Europe, USA, Australia, Middle East, and Africa.
Competitive Strengths
i) Experienced Leadership: Led by Mr. Lalit Agrawal, a seasoned industry veteran with 40+ years of experience in plastics and manufacturing.
ii) Strong Client Relationships: Repeat orders from 25+ international customers
iii) Modern Infrastructure: High-end in-house facilities ensure cost competitiveness, flexibility, and scalability.
iv) Customization & Innovation: Ability to deliver tailored packaging solutions offers strong differentiation in the market.
v) Efficient Supply Chain: Seamless integration from sourcing to delivery ensures timely execution across geographies.
Objects of the Glen Industries Limited IPO:
Glen Industries Limited IPO Details:
Open Date: | Jul 08 2025 |
Close Date: | Jul 10 2025 |
Total Shares: | 64,96,800 |
Face Value: | ₹ 10 Per Equity Share |
Issue Type: | Book Building |
Issue Size: | 63.02 Cr. |
Lot Size: | 1200 Shares |
Issue Price: | ₹ 92-97 Per Equity Share |
Listing At: | BSE SME |
Promoters And Management:
Financials of Glen Industries Limited IPO:
Particulars | FY 2024-25 | FY 2023-2024 | FY 2022-2023 |
Revenue from Operations | 170.66 | 144.5 | 118.85 |
EBITDA | 40.43 | 24.86 | 13.89 |
EBITDA Margins | 23.60% | 17.12% | 11.62% |
PAT | 18.26 | 8.57 | 1.48 |
PAT Margins | 10.70% | 5.94% | 1.25% |
ROCE | 16.94% | 13.59% | 6.57% |
Debt to Equity Ratio(In Times) | 2.28 | 1.98 | 2.24 |
Operating Cash Flows | 4.92 | 13.54 | 10.79 |
Comparison With Peers:
Companies | Revenue (in cr) | EBITDA Margins | PAT Margins | D/E Ratio | MCap (in cr) | P/E |
Glen Industries Limited(FY25) | 170.6 | 23.60% | 10.70% | 2.28 | 233.39 | 12.78 |
Rajshree Polypack Limited(FY25) | 330 | 11% | 2.41% | 0.72 | 202 | 25.3 |
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