K. V. Toys India Limited IPO
K. V. Toys India Limited was incorporated on April 4, 2023, engaged in the contract manufacturing and sale of plastic-moulded and metal-based toys catering to both educational and recreational segments. Beginning as an importer and trader under KV Impex, the business transitioned to a contract manufacturing model in alignment with India’s “Make in India” initiative. Over the years, the Company has expanded from 20 initial SKUs to 700+ active SKUs, serving children across varied age groups.
Manufacturing Model
K. V. Toys India operates an asset-light, OEM-based manufacturing model through 11 exclusive OEM partners located across India. These partners operate under the Company’s technical guidance, using proprietary moulds, standardized processes, and quality specifications provided by the Company. Semi-finished goods from OEM units undergo final assembly, packaging, and quality checks at the Company’s in-house facility in Kalher, Bhiwandi, spread across 100,000 sq. ft. This centralized assembly and warehousing hub supports efficient inventory management and countrywide distribution.
Distribution Network
The Company has built a strong multi-channel Pan-India distribution network, comprising 2,000+ general trade customers, 30+ modern retail chains and Growing presence on e-commerce and quick-commerce platforms This distribution strength ensures deep penetration across metros, Tier II, and Tier III cities while enabling rapid last-mile delivery.
Product Categories
Its product portfolio includes friction-powered toys, soft bullet guns, ABS toys, pull-back toys, battery-operated and electronic toys, press-and-go toys, die-cast metal vehicles, bubble toys, dolls, and several other play-based offerings. The Company markets multiple proprietary brands such as Alia & Olivia, Yes Motors, Funny Bubbles, and Thunder Strike, which enjoy strong acceptance in the Indian toy market and early traction in international markets, including exports to Germany.
Competitive Strengths
1. Diverse Product Portfolio: A wide range of 700+ SKUs catering to multiple play categories and age segments.
2. Localized OEM-Based Manufacturing: India-wide OEM partnerships ensure cost efficiency, faster turnaround, and reduced dependence on imports.
3. Strong In-House Design & Packaging: Dedicated design and mould development capabilities driven by a 50-member team ensure consistent quality and brand identity.
4. Asset-Light Model With Supply Chain Control: Exclusive OEM ties combined with centralized assembly and warehousing provide scalability with minimal capital intensity.
5. Superior Quality at Competitive Prices: Bulk procurement, standardized manufacturing, and rigorous quality checks enable high-quality products at affordable price points.
6. Extensive Multi-Channel Distribution: Deep general trade presence, partnerships with modern retail chains, and scaling digital channels ensure widespread market reach.
Objects of the K. V. Toys India Limited IPO:
K. V. Toys India Limited IPO Details:
| Open Date: | Dec 08 2025 |
| Close Date: | Dec 10 2025 |
| Total Shares: | 16,80,000 |
| Face Value: | ₹ 10 Per Equity Share |
| Issue Type: | Book Building |
| Issue Size: | 40.15 Cr. |
| Lot Size: | 600 Shares |
| Issue Price: | ₹ 227 - 239 Per Equity Share |
| Listing At: | BSE SME |
| Listing Date: | Dec 15 2025 |
Promoters And Management:
Financials of K. V. Toys India Limited IPO:
| Particulars | For period ended September 30, 2025 | For the period February 01, 2025 to March 31, 2025 | For the period ended January 31, 2025 | For the year ended March 31, 2024 |
| Revenue from Operations (Cr) | 80.80 | 22.70 | 62.85 | - |
| EBITDA (Cr) | 6.09 | 1.91 | 4.44 | - |
| EBITDA Margins | 7.54% | 8.42% | 7.07% | - |
| PAT (Cr) | 4.05 | 1.30 | 3.28 | -0.10 |
| PAT Margins | 5.02% | 5.76% | 5.23% | - |
| ROCE | 15.30% | 5.69% | 15.89% | -1.56% |
| OPerating Cash Flow | -1.50 | -3.50 | -15.63 | -0.13 |
| Debt to Equity Ratio(In Times) | 1.95 | 2.63 | 2.59 | - |
| Note : There was no business activity in FY 2024 under KV Toy; hence, the data for the said period has not been presented. | ||||
Comparison With Peers:
| Companies | Revenue (in cr) | EBITDA Margins | PAT Margins | ROCE | D/E Ratio | MCap (in cr) | P/E |
| K.V Toys Limited | 85.60 | 7.50% | 5.36% | - | 2.61 | 150.09 | 23.94 |
| OK Play India Limited | 165 | 17% | -1% | 4.68% | 0.78 | 237 | - |
| NOTE:Forward P/E 18.483 is According to FY 2026 PAT | |||||||
Lead Manager of K. V. Toys India Limited IPO:
Registrar of K. V. Toys India Limited IPO:
Discussion on K. V. Toys India Limited IPO:
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