Vigor Plast India Limited IPO
Vigor Plast India Limited, incorporated in 2014, began as a trader of PVC pipes and fittings and later diversified into manufacturing in 2020. The Company produces a wide range of PVC, uPVC, and cPVC pipes and fittings, catering to plumbing, irrigation, and SWR (Soil, Waste, and Rainwater) management applications. Its products are known for durability, corrosion resistance, and suitability across residential, commercial, agricultural, and industrial sectors.
Product Portfolio
The Company markets products under its registered brand name “VIGOR”. Its portfolio includes:
1. Pipes – cPVC Pipes, uPVC Pipes, Agriculture Pipes (Self Fit), SWR Ring Fit Pipes, and SWR Self Fit Pipes.
2. Fittings & Ancillary Products – cPVC and uPVC Fittings, Agriculture Fittings, SWR Ring Fit Fittings, SWR Self Fit Fittings, P.T.M.T. Taps, Garden Pipes, and others.
Manufacturing Facility
The Company’s leased facility at Dared, Jamnagar, Gujarat, is equipped with fully automated machinery for precision manufacturing, supported by an in-house laboratory that conducts stringent quality checks at every stage. A skilled team of operators, QC officers, supervisors, and managers ensures operational efficiency and consistent product quality.
Distribution Network
Vigor Plast operates four strategically located warehouses in Rajkot, Jamnagar, Surat, and Ahmedabad, supported by a strong dealer network of 440 distributors across 25 states and union territories as of March 31, 2025. Orders are facilitated through its Android app “Vigor India Plast”, while exports are expanding to Nepal. The Company relies on India’s road network to ensure cost-effective and timely deliveries.
Marketing & Branding
Products are marketed under the “VIGOR” brand, with promotional efforts driven through targeted social media campaigns and endorsement by a celebrity brand ambassador. These initiatives are aimed at expanding brand awareness, enhancing visibility, and accelerating sales growth through aggressive marketing strategies.
Objects of the Vigor Plast India Limited IPO:
Vigor Plast India Limited IPO Details:
Open Date: | Sep 04 2025 |
Close Date: | Sep 09 2025 |
Total Shares: | 30,99,200 |
Face Value: | ₹ 10 Per Equity Share |
Issue Type: | Book Building |
Issue Size: | 25.10 Cr. |
Lot Size: | 1600 Shares |
Issue Price: | ₹ 77-81 Per Equity Share |
Listing At: | NSE Emerge |
Promoters And Management:
Financials of Vigor Plast India Limited IPO:
Particulars | FY 2024-25 | FY 2023-2024 | FY 2022-2023 |
Revenue from Operations | 45.57 | 42.48 | 37.28 |
EBITDA | 12.08 | 7.55 | 3.07 |
EBITDA Margins | 26.51% | 17.78% | 8.26% |
PAT | 5.15 | 2.92 | 0.29 |
PAT Margins | 11.30% | 6.90% | 0.80% |
ROCE | 28.24% | 19.58% | 9.49% |
Debt to Equity Ratio(In Times) | 1.39 | 4.72 | 6.9 |
Operating Cash Flows | 14.57 | 1.96 | 4.64 |
Comparison With Peers:
Companies | Revenue (in cr) | EBITDA Margins | PAT Margins | ROCE | D/E Ratio | MCap (in cr) | P/E |
Vigor Plast India Ltd | 45.57 | 26.51% | 11.30% | 28.24% | 1.39 | 83.84 | 16.28 |
Captain Pipes Ltd | 76.75 | 10.46% | 11.41% | - | 0.36 | 225 | 25.6 |
Dutron Polymers Ltd | 104.03 | 4% | 2.60% | 12.40% | 0.16 | 71 | 34 |
Rex Pipes & cables Industries Ltd | 138 | 8% | 3.60% | 16.10% | 0.81 | 152 | 23,3 |
Lead Manager of Vigor Plast India Limited IPO:
Registrar of Vigor Plast India Limited IPO:
Discussion on Vigor Plast India Limited IPO:
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