Kasturi Metal Composite Limited IPO

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Incorporated in 2005, Kasturi Metal Composite Limited is engaged in the manufacturing, supply, and export of steel fibre products for industrial and infrastructure applications. It has also acquired the running business of Kasturi Industries, strengthening its operational base.

Products and Services

The Company manufactures a wide range of steel fibre products used in fibre-reinforced concrete, including Loose Hook-End Steel Fibre, Glued Hook-End Steel Fibre, and Flat Crimped Steel Fibre. It also produces Steel Wool Fibre, primarily used in brake pads and clutch friction linings. In addition, the Company trades Macro Synthetic PP Fibres under the Durocrete brand. Through its subsidiary, Durafloor Concrete Solution LLP, it provides customised concrete flooring solutions.

Applications and End-Use Industries

Kasturi’s products cater to diverse sectors such as construction, infrastructure, mining, warehousing, logistics, engineering, and automotive. Applications include industrial and warehouse flooring, tunnels, roads, pavements, precast concrete, hydroelectric projects, bridges, highways, and underground caverns, enhancing structural strength and durability.

Market Presence and Order Book

The Company generates revenue primarily from domestic sales, with a growing export presence across six countries. As of December 31, 2025, its consolidated order book stood at ₹3,752.48 lakhs, providing near-term revenue visibility.

Subsidiary – Durafloor Concrete Solution LLP

Durafloor Concrete Solution LLP, incorporated in 2015 and acquired as a subsidiary in FY2023, specialises in industrial concrete flooring solutions, including polishing, densification, and FM-certified flooring. The LLP has received industry recognition, including the Best Service Industry Award (2019).

Key Strengths

i) Strong manufacturing capabilities with integrated facilities
ii) Diverse portfolio of steel fibre products
iii) Robust quality control and certifications
iv) Long-standing customer relationships across multiple geographies
v) Experienced promoters and professional management team

Objects of the Kasturi Metal Composite Limited IPO:

Company intends to utilize the proceeds of the Issue for the following objects: 1. Capital expenditure towards, mechanical and electrical works, interior work and procurement of plant and machinery for setting up a new manufacturing facility at Maharashtra (₹13.29 cr) 2. General Corporate Purpose
DRHP of Kasturi Metal Composite Limited IPO
RHP of Kasturi Metal Composite Limited IPO

Kasturi Metal Composite Limited IPO Details:

Open Date: Jan 27 2026
Close Date: Jan 29 2026
Total Shares: 27,52,000
Face Value: ₹ 10 Per Equity Share
Issue Type: Book Building
Issue Size: 18 Cr.
Lot Size: 2000 Shares
Issue Price: ₹ 61-64 Per Equity Share
Listing At: BSE SME
Listing Date: Feb 03 2026

Promoters And Management:

1. Samit Surendra Singhai is the Promoter, Chairman and Managing Director of the Company and has been on the Board since incorporation. He holds an M.Sc. in Industrial Engineering from the University of Wisconsin–Madison, a B.E. (Mechanical) from the University of Pune, and a Diploma in Blockchain Technology Management from IMT Ghaziabad. With nearly 20 years of experience in steel fibre and steel wool manufacturing, he oversees overall business operations, finance, legal, HR, administration, and strategic growth initiatives. 2. Akash Surendra Singhai is the Promoter and Whole-Time Director and has been on the Board since incorporation. He holds an MBA from La Trobe University, Melbourne, and a B.E. (Production) from Sant Gadge Baba Amravati University. With around 20 years of experience in marketing and business development, he leads the Company’s sales, marketing, and growth strategies. 3. Mayur Ashok Zamvar is a Non-Executive Director and has been on the Board since December 26, 2023. He is a Chartered Accountant (ICAI) with certifications in insurance, risk management, and information system audit, and is a Senior Partner at Kaloti & Lathiya, bringing over 16 years of experience in audits, taxation, and governance advisory.

Financials of Kasturi Metal Composite Limited IPO:

Particulars 6M FY2025-26 FY 2024-25 FY 2023-2024 FY 2022-2023(StandAlone)
Revenue from Operations (Cr) 32 57 50 37
EBITDA (Cr) 5 6 5 4
EBITDA Margins 15% 10% 11% 11%
PAT (Cr) 2.46 2 2.3 1.5
PAT Margins 7.7% 3.6% 4.7% 4.0%
ROCE 12% 14% 18% 17%
D/E 0.71 0.74 0.96 1.39
Operating Cash Flows (Cr) 3.2 2.5 2.1 0.79

Comparison With Peers:

According to RHP their is no Listed Peers Existed in the same Business Segments.

Lead Manager of Kasturi Metal Composite Limited IPO:

  1. Hem Securities Limited

Registrar of Kasturi Metal Composite Limited IPO:

  1. Bigshare Services Private Limited

Discussion on Kasturi Metal Composite Limited IPO:

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