S.K.Offset
What they do: The company primarily engages in printing services, utilizing its assets and industry expertise to deliver quality products. It focuses on expanding its market reach and enhancing operational efficiency to drive growth.
By IPO Milega Research · Published
S.
- GMP (unofficial)
- +0%
- ₹0 a share
- Subscribed
- 1.17x
- Total
- Retail odds
- 100%
- 1 in 1
GMP is an unofficial grey market indication.
- Price band
- ₹119-125
- Lot size
- 2000 shares
- Min. investment
- ₹2,50,000
- Issue size
- 29.06 Cr.
- Open23 Sept 2026
- Close25 Sept 2026
- Allotment28 Sept 2026
- Listing30 Sept 2026
Overview
Estimated from the current subscription figures. Tap a category to work it out for your application size.
- QIB
- 2.61x
- NII
- 0.8x
- Retail
- 0.77x
₹125 (+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.
- Financials7.0
- Performance8.0
- Flexibility8.0
- Timing5.0
- Risk4.0
The Grey Market Premium (GMP) for S. K. Offset Limited is neutral at 0.00%, indicating no expected gains on listing. Despite strong financial performance and growth potential, the IPO timing and market conditions present challenges that may impact initial investor sentiment.
Strengths3
- Expansion into value-added packaging and education-related printing solutions.
- Commissioning of a Heidelberg CD 102 press to enhance packaging productivity and print quality.
- Development of long-standing relationships with repeat institutional, educational, and corporate clients.
Concerns5
- High dependency on top 10 customers and suppliers
- Regional concentration in Uttar Pradesh
- Volatility in raw material prices and forex rates
- Negative cash flows and high receivables
- Operational disruptions from power outages or labor unrest
Who gets shares
- QIB50%
- NII15%
- Retail35%
- Retail Minimum2,50,0002 lots, 2000 shares
- Retail Maximum2,50,0002 lots, 2000 shares
- S-HNI Minimum3,75,0003 lots, 3000 shares
- S-HNI Maximum10,00,0008 lots, 8000 shares
- B-HNI Minimum11,25,0009 lots, 9000 shares
| Application | Lot size | Shares | Amount |
|---|---|---|---|
| Retail Minimum | 2 | 2000 | 2,50,000 |
| Retail Maximum | 2 | 2000 | 2,50,000 |
| S-HNI Minimum | 3 | 3000 | 3,75,000 |
| S-HNI Maximum | 8 | 8000 | 10,00,000 |
| B-HNI Minimum | 9 | 9000 | 11,25,000 |
Timing
5.0/10The timing of the IPO appears to be moderately unfavorable due to the potential for high volatility and the risk of surveillance measures impacting trading. The lack of a prior public market for the shares adds to the uncertainty, and the broader economic conditions could further affect investor sentiment and stock performance.
- Time to market
- The company's entry into the public market is fraught with potential volatility and regulatory surveillance risks, which could deter investors and affect the stock's performance. The broader economic and political environment adds to the uncertainty, making the timing of the IPO moderately unfavorable.
- How allotment works
- Basis of allotment finalized and shares credited to demat
- Market timing
- Neutral
- Time to market
- 5.0
- Listing on
- BSE SME
Key milestones
- 23 Sept 2026IPO Opens
- 25 Sept 2026IPO Closes
- 28 Sept 2026Basis of Allotment
- 29 Sept 2026Refunds Initiated
- 29 Sept 2026Credit to Demat Account
- 30 Sept 2026Listing Date
Financials
7.0/10- Revenue
- ₹67 Cr
- +37.7%
- Profit after tax
- ₹7.48 Cr
- +385.7%
- Net margin
- 11.2%
- +8.0 pts
- Assets
- ₹81.76 Cr
- +46.6%
- Return on equity
- 37.81
- Debt to equity
- 2.73
- Current ratio
- 1.23
- Revenue CAGR
- 70%
- ROCE
- 22.91%
- Return on net worth
- 37.82%
- NAV per share (₹)
- 36.50
Financial performance trend
Amount ₹ in croresS. K. Offset Limited shows a strong growth trajectory with a significant increase in revenue and net profit over the past three years. The company has a healthy profit margin and a robust revenue CAGR, indicating effective business operations and market demand. However, the high level of short-term borrowings and trade payables suggests potential liquidity concerns, which could impact financial stability if not managed properly.
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 risks3
- Market risks2
- Operational risks1
- Regulatory risks1
High dependency on key customers and suppliers, regional concentration, and financial volatility pose significant risks to S. K. Offset Limited.
How the company offsets these
Diversifying customer base and geographic operations can mitigate dependency and regional risks.
Financial risks3
- Volatility in raw material prices and forex rates
- Negative cash flows and high receivables
- Interest rate increases affecting capital access
Market risks2
- High dependency on top 10 customers and suppliers
- Regional concentration in Uttar Pradesh
Operational risks1
- Operational disruptions from power outages or labor unrest
Regulatory risks1
- Regulatory compliance issues and potential penalties
Performance
8.0/10S. K. Offset Limited is a mid-sized player in the Indian printing and packaging industry, with a strong focus on quality and compliance. The company has shown significant growth in revenue and profitability over the past three fiscal years, driven by its diversified product offerings and strategic investments in technology and capacity expansion. It operates an integrated facility in Meerut, Uttar Pradesh, and serves a wide range of industries, including FMCG, pharmaceuticals, and education.
- Historical growth
- The company has demonstrated strong revenue growth over the past three fiscal years, with revenue increasing from ₹2,153.09 lakhs in FY 2024 to ₹6,667.29 lakhs in FY 2026., The revenue growth rate was 123.93% from FY 2024 to FY 2025 and 38.32% from FY 2025 to FY 2026.
- Market comparison
- S. K. Offset Limited competes effectively with regional peers and offers structured processes comparable to larger organized players. The company benefits from its diversified product offerings and established client relationships.
- Future potential
- The company is expected to continue its growth trajectory by expanding its presence in Western and Southern India and increasing its focus on organized-sector clients.
- Operational consistency
- The company's diversified business segments and strong client relationships contribute to its revenue stability.
- Experience
- The management team has extensive experience in the printing and packaging industry, with origins dating back to 1973.
- Track record
- The management has successfully expanded the company's operations and product offerings, maintaining a focus on quality and compliance.
Key achievements
- 01Expansion into value-added packaging and education-related printing solutions.
- 02Commissioning of a Heidelberg CD 102 press to enhance packaging productivity and print quality.
- 03Development of long-standing relationships with repeat institutional, educational, and corporate clients.
Flexibility
8.0/10The company has a diversified customer base across FMCG, pharmaceuticals, and education sectors, which supports revenue stability. It is expanding geographically and focusing on organized-sector clients, enhancing its market adaptability.
S. K. Offset Limited has integrated operations with in-house capabilities for design, printing, and finishing, allowing for better control over production and quality. Ongoing investments in technology and process optimization enhance operational agility.
S. K. Offset Limited demonstrates strong flexibility and adaptability through its diversified product offerings, strategic investments in technology, and robust client relationships across multiple industries. The company is well-positioned to leverage growth opportunities in the printing and packaging industry, supported by its integrated operations and focus on quality and compliance.
- Product diversification
- The company offers a wide range of products, including offset printing, packaging cartons, labels, and educational materials, reducing dependence on a single revenue stream.
- Future adaptability
- The company is well-positioned to adapt to future industry trends, such as the shift towards sustainable packaging and digital printing, supported by its strategic focus on technology upgrades and customer diversification.
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.