Shree TNB Polymers (C) SME
What they do: The company primarily engages in manufacturing, utilizing secured loans for machinery to enhance production capabilities.
By IPO Milega Research · Published
The company shows a moderate financial position with steady revenue growth and profitability.
- GMP (unofficial)
- +0%
- ₹0 a share
- Opens
- 28 Sept
- Closes 5 Oct
- Min. investment
- ₹2,08,000
- 4000 shares
GMP is an unofficial grey market indication.
- Price band
- ₹52
- Lot size
- 4000 shares
- Min. investment
- ₹2,08,000
- Issue size
- N/A
- Open28 Sept 2026
- Close5 Oct 2026
- Allotment6 Oct 2026
- Listing8 Oct 2026
Overview
₹52 (+0.00%)
GMP trend
Unofficial grey market quotes, times in IST
Outer ring: estimated gain
How the score adds up
The overall score is the average of these five, nudged by QIB demand once bidding closes.
- Financials6.0
- Performance6.0
- Flexibility8.0
- Timing7.0
- Risk4.0
The Grey Market Premium (GMP) of 52 suggests a positive market sentiment and potential for listing gains. The company's strategic timing of the IPO, coupled with its strong flexibility and adaptability, further supports the potential for gains.
Strengths2
- Maintained a stable EBITDA margin of 9.69% despite revenue decline.
- Implemented cost-effective digital marketing strategies targeting farmers and distributors.
Concerns5
- Significant ongoing litigation with potential financial impact.
- High customer concentration risk with top 10 customers.
- Negative cash flows and high indebtedness.
- Low manufacturing capacity utilization.
- Dependency on uninterrupted operations and raw material availability.
Who gets shares
- QIB50%
- NII15%
- Retail35%
- Retail Minimum2,08,0002 lots, 4000 shares
- Retail Maximum2,08,0002 lots, 4000 shares
- S-HNI Minimum3,12,0003 lots, 6000 shares
- S-HNI Maximum9,36,0009 lots, 18,000 shares
- B-HNI Minimum10,40,00010 lots, 20,000 shares
| Application | Lot size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 2 | 4000 | 2,08,000 |
| Retail Maximum | 2 | 4000 | 2,08,000 |
| S-HNI Minimum | 3 | 6000 | 3,12,000 |
| S-HNI Maximum | 9 | 18,000 | 9,36,000 |
| B-HNI Minimum | 10 | 20,000 | 10,40,000 |
Timing
7.0/10The IPO is launched at a time when market conditions appear favorable for SME listings, with a structured allocation strategy that caters to a diverse investor base, including QIBs, NIBs, and individual investors. The full underwriting of the issue by reputable underwriters further suggests a positive market outlook and confidence in the company's prospects.
- Time to market
- The IPO is well-timed within the regulatory framework, with strategic allocations to different investor categories, indicating a strong understanding of market dynamics and investor demand.
- How allotment works
- Basis of allotment finalized and shares credited to demat
- Market timing
- Favourable
- Time to market
- 8.0
- Listing on
- BSE SME
Key milestones
- 28 Sept 2026IPO Opens
- 5 Oct 2026IPO Closes
- 6 Oct 2026Basis of Allotment
- 7 Oct 2026Refunds Initiated
- 7 Oct 2026Credit to Demat Account
- 8 Oct 2026Listing Date
Financials
6.0/10- Revenue
- ₹198 Cr
- +12.9%
- Profit after tax
- ₹7.13 Cr
- +23.6%
- Net margin
- 3.6%
- +0.3 pts
- Assets
- ₹145 Cr
- +14.0%
- Return on equity
- 15%
- Debt to equity
- 2
- Current ratio
- 1.5
- Revenue CAGR
- 10%
- ROCE
- 16.02%
- Return on net worth
- 13.69%
- NAV per share (₹)
- 36.29
Financial performance trend
Amount ₹ in croresThe company shows a moderate financial position with steady revenue growth and profitability. However, the high level of debt and moderate liquidity ratios suggest potential financial risk.
Risk
4.0/10Read this score as a safety rating: 10/10 means the lowest risk, 1/10 the highest.
Where the risks sit
- Financial risks2
- Market risks1
- Operational risks2
High financial and operational risks due to litigation, customer concentration, and debt levels.
How the company offsets these
Diversifying customer base and improving operational efficiency could mitigate risks.
Financial risks2
- Negative cash flows and high indebtedness.
- Significant ongoing litigation with potential financial impact.
Market risks1
- High customer concentration risk with top 10 customers.
Operational risks2
- Low manufacturing capacity utilization.
- Dependency on uninterrupted operations and raw material availability.
Performance
6.0/10Shree TNB Polymers Limited, established in 2007, is a polymer manufacturer focusing on piping systems and plastic solutions. The company has faced a slight decline in revenue with a CAGR of -1.59% over recent years, but maintains a stable EBITDA margin of 9.69%. Key risks include limited geographical diversification and dependency on key customers, while opportunities exist in infrastructure growth and strategic acquisitions.
- Historical growth
- The company has experienced a slight decline in revenue over recent years, with a CAGR of -1.59%., Negative
- Market comparison
- The company operates in a competitive polymer manufacturing industry with potential growth opportunities in infrastructure development.
- Future potential
- Moderate growth potential due to infrastructure development and strategic acquisitions.
- Operational consistency
- The company has been operational for 19 years, maintaining a stable EBITDA margin despite revenue fluctuations.
- Experience
- The management team includes experienced directors and a CFO, indicating a solid leadership structure.
- Track record
- The management has maintained operational stability and strategic growth initiatives.
Key achievements
- 01Maintained a stable EBITDA margin of 9.69% despite revenue decline.
- 02Implemented cost-effective digital marketing strategies targeting farmers and distributors.
Flexibility
8.0/10The company has a strong market presence with over 325 dealers across key regions in India and a growing international footprint. Its diversified product portfolio caters to infrastructure, agriculture, and industrial sectors, allowing it to adapt to various market demands.
The company shows stable financial performance with consistent revenue and EBITDA margins. It has a healthy current ratio and operating cash flow, indicating good financial management and the ability to meet short-term obligations.
Shree TNB Polymers has automated production processes and plans for technological enhancements, which enable it to maintain flexibility in production and adapt to diverse product specifications efficiently.
Shree TNB Polymers Limited demonstrates strong flexibility and adaptability through its diversified product portfolio, strategic expansion plans, and robust financial performance. The company has a comprehensive product range catering to various sectors, a strong distribution network, and plans for capacity expansion and technological upgrades, indicating its ability to adapt to market demands and future growth opportunities.
- Product diversification
- The company offers a wide range of products, including HDPE pipes, PP and PPH pipes, DWC pipes, irrigation systems, and industrial sheets, catering to multiple sectors such as agriculture, infrastructure, and industrial applications.
- Future adaptability
- The company plans to expand its manufacturing capacity and distribution network, invest in solar energy for cost efficiency, and upgrade technology to enhance production capabilities, positioning it well for future adaptability and growth.
The data on this page has been reviewed manually by the IPO Milega research team. It is not investment advice, and IPO Milega accepts no responsibility for losses arising from any investment decision. Investments in the securities market are subject to market risks. Read all the related documents, including the full prospectus, carefully before investing.