Shining Tools Limited IPO
Shining Tools Limited, established in 2013 and headquartered in Rajkot, Gujarat, is engaged in the design and manufacturing of high-performance solid carbide cutting tools. The company caters to diverse industries across India, providing both standardized and customized tooling solutions. With a strong emphasis on innovation, quality, and precision, Shining Tools has emerged as a trusted partner for CNC machining applications.
Business Model
Shining Tools operates through two primary verticals:
1. Manufacturing of Solid Carbide Tools – Both standardized (8–10 days production cycle) and customized tools (1–3 weeks cycle depending on complexity).
2. Reconditioning Services – Regrinding, re-sharpening, and re-coating of tools (including third-party brands) to restore original geometry and performance.
Re-coating services are outsourced to industry leaders like Oerlikon Balzers Coating India Pvt Ltd and Nissin Advanced Coating Indo Pvt Ltd.
Products and Services
The company manufactures a comprehensive range of cutting tools such as end mills, thread mills, drills, and reamers, designed for high-speed machining of materials like solid carbide, steel, aluminium, cast iron, and forgings.
In addition to manufacturing, Shining Tools provides reconditioning services—including regrinding, re-sharpening, and re-coating—to extend tool life and reduce customer costs. About 69% of FY 2024-25 revenue and an average of 53.28% over the past three years comes from customized tool manufacturing.
Technology and Quality Control
Every stage of production—from design to final inspection—is monitored through non-contact optical CNC inspection systems to minimize human error. The company uses advanced design software such as Walter Helitronic Tool Studio and Siemens Powershape for customized tool design.
An in-house ERP system (NativeBit) manages inventory, production, and billing, while a 50 kW rooftop solar plant supports sustainable manufacturing and business continuity.
Brand and Market Position
Operating under its own brand since 2013, Shining Tools has built a reputation for precision engineering and reliability. Its focus on customization, quality control, and client support distinguishes it in India’s precision tooling industry. The company’s consistent performance, technical expertise, and customer-centric approach continue to drive its growth trajectory in the domestic manufacturing sector.
Objects of the Shining Tools Limited IPO:
Shining Tools Limited IPO Details:
| Open Date: | Nov 07 2025 |
| Close Date: | Nov 11 2025 |
| Total Shares: | 15,00,000 |
| Face Value: | ₹ 10 Per Equity Share |
| Issue Type: | Fixed Price |
| Issue Size: | 17.10 Cr. |
| Lot Size: | 1200 Shares |
| Issue Price: | ₹ 114 Per Equity Share |
| Listing At: | BSE SME |
| Listing Date: | Nov 14 2025 |
Promoters And Management:
Financials of Shining Tools Limited IPO:
| Particulars | 11M 2024-2025 | FY 2023-2024 | FY 2022-2023 | FY 2021-22 |
| Revenue from Operations (Cr) | 12.47 | 10.52 | 10.32 | 10.07 |
| EBITDA (Cr) | 5.82 | 4.14 | 1.88 | 1.85 |
| EBITDA Margins | 46.70% | 39.40% | 18.27% | 18.38% |
| PAT (Cr) | 2.69 | 1.57 | -0.7 | -0.19 |
| PAT Margins | 21.62% | 14.96% | -0.77% | -1.94% |
| ROCE | 27.24% | 26.64% | 8.32% | 6.45% |
| Debt to Equity Ratio(In Times) | 1.1 | 2.09 | 4.67 | 4.9 |
| Operating Cash Flows (Cr) | 0.65 | 4.36 | 2.31 | 2.29 |
Comparison With Peers:
| Companies | Revenue (in cr) | EBITDA Margins | PAT Margins | ROCE | D/E Ratio | MCap (in cr) | P/E |
| Shining Tools Limited (FY24) | 10.52 | 39.40% | 14.96% | 26.64% | 2.09 | 64.5 | 41.08 |
| Birla Precisions Technologies Limited (FY25) | 207 | 9% | 2.42% | 6.93% | 0.35 | 303 | 38.8 |
| NOTE:Forward P/E is 22.01 According to FY 2025 PAT | |||||||
Lead Manager of Shining Tools Limited IPO:
Registrar of Shining Tools Limited IPO:
Discussion on Shining Tools Limited IPO:
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