- NEGATIVE
Annual Revenue Manilam Industries Mar-2026 Annual Revenue is Rs 105 Cr which is growth of -26.4% YoY.
- NEGATIVE
Annual Net Profit Manilam Industries Mar-2026 Annual Net Profit is Rs 2 Cr which is growth of -72.9% YoY.
Manilam Industries India was incorporated on May 23, 2013. The company manufactures and sells decorative laminates in various thicknesses, offering over 1,000 designs and 100 textures across multiple collections for residential and commercial use. It also trades plywood in different grades and sizes, mainly catering to industrial and commercial sectors
| Bidding Dates |
|---|
| 20 Feb 2026 - 24 Feb 2026 |
| Subscription |
|---|
| 5.89x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹260,000 | 2 | 2 | 2000 | 5.8 M | ₹65 - ₹69 | 61.85 % | ₹376.4 M - ₹399.5 M | RHP DOC |
Manilam Industries IPO SUBSCRIPTION STATUS
24 Feb '26Total5.89x
Retail Individual Investor7.8x
HNI (NII) Investors17.07x
Qualified Institutional Buyers1.19x
Manilam Industries IPO overall subscription rate was 5.89 times the total available shares
Manilam Industries IPO retail subscription rate was 7.8 times in the retail segment
Manilam Industries IPO non-institutional investor subscription rate was 17.07 times in the non-institutional investor category
Manilam Industries IPO Qualified Institutional Bidder subscription rate was 1.19 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
24 Feb 2026 (Day 3) | 7.8x | 17.07x | 1.19x |
23 Feb 2026 (Day 2) | 2.67x | 4.95x | 0.06x |
20 Feb 2026 (Day 1) | 0.39x | 0.46x | - |
Manilam Industries FINANCIALS
| Period | Revenue from Operations (Rs in crore) | Net Profit (Rs in crore) | Cash Flow from Operations (Rs in crore) | Free Cash Flow (Rs in crore) | Margins |
| H1FY26 | 60.1 | 3.2 | 2.5 | 1.7 | 14.3% |
| FY25 | 140.0 | 7.4 | 16.5 | 17.3 | 12.6% |
| FY24 | 137.9 | 3.1 | -4.2 | -5.4 | 10.2% |
| FY23 | 148.1 | 1.5 | -2.9 | -7.9 | 6.1% |
Manilam Industries IPO SUBSCRIPTION STATUS DETAILS
Manilam Industries had 5.8 M shares on offer
Manilam Industries IPO offer price was in the range ₹65 - ₹69
Manilam Industries IPO minimum Investment was ₹260000
Manilam Industries IPO issue size was ₹ 376.4 M - ₹ 399.5 M
Manilam Industries had a minimum lot size of 2000 Shares per application
Manilam Industries NUMBER OF SHARES ON OFFER
Total5.8 M
Fresh Issue4.7 M
Offer for Sale1.1 M
Post Issue Promoter Holding %61.85 %
Manilam Industries IPO IMPORTANT DATES
| Issue Open Date | 20 Feb 2026 |
| Issue close Date | 24 Feb 2026 |
| Allotment Date | 25 Feb 2026 |
| Refund Date | 26 Feb 2026 |
| Demat Account Credit Date | 26 Feb 2026 |
| Listing Date | 27 Feb 2026 |
| Listing on Exchange(s) | NSE |
| Manilam Industries Allotment Status | Exchange/ Registrar |
Manilam Industries IPO subscription opened on 20 Feb 2026, and closed on 24 Feb 2026
IPO allotment for Manilam Industries was finalized on Wednesday, 25 Feb 2026
IPO listing for Manilam Industries was on NSE on Friday, 27 Feb 2026
Manilam Industries IPO LISTING GAINS
| Issue Price (adjusted) | 69.0 |
| Listing Open Price | 55.2 |
| Listing Close Price | 52.5 |
| Listing Gain% | -20.0% |
| Current Gain% | -48.8% |
Manilam Industries Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Manilam Industries India Ltd. | 35.3 | 77.1 | 37.5 | -0.5 | 0.7 | 2.9 | 1.2 | 104.7 | -26.4 | 2.1 | -72.4 | 0.9 | -72.4 |
| Century Plyboards (India) Ltd. | 635.4 | 14116.9 | 48.5 | 1.1 | 2.4 | 10.1 | 5.1 | 5407.4 | 19.2 | 262.7 | 41.8 | 13.1 | 43.6 |
| Stylam Industries Ltd. | 2742.8 | 4648.5 | 26.6 | 0.7 | 3.8 | 18.6 | 15.3 | 1136.1 | 10 | 149.9 | 23 | 103.1 | 39.8 |
| Greenply Industries Ltd. | 282.7 | 3531 | 28.2 | 0.6 | 1.2 | 10 | 4.6 | 2757.6 | 10.1 | 89.5 | -2.3 | 10 | 46.7 |
| Greenpanel Industries Ltd. | 132.3 | 1622.4 | 252.5 | -3.6 | 1 | -2.1 | -1.4 | 1553.9 | 6.6 | -29.1 | -140.4 | 0.5 | -70.5 |
| Megamont Ltd. | 184.4 | 532.7 | 60.4 | 0 | 0.6 | 18.4 | 6.6 | 606.9 | 6.2 | 4838.6 | 3.1 | 2088.9 |
Annual
Balance Sheet
Ratios
Cash Flow
Manilam Industries annual results: revenue, profit, P&L, and margins as of Mar 2026 – 11 year history
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| Indicator | Graph | CAGR 3 Yrs | Mar '26 | Mar '25 | Mar '24 | Mar '23 |
|---|---|---|---|---|---|---|
-11.1% | 104.6 | 142.2 | 138 | 148.8 | ||
Operating Exp. Ann. | -12.7% | 92.5 | 122.4 | 123.8 | 139.1 | |
Operating Profit Ann. | 9.1% | 11.7 | 17.6 | 14.1 | 9 | |
OPM Ann. % | 22.6% | 11.14% | 12.40% | 10.19% | 6.05% | |
-11.5% | 101.6 | 131.7 | 133.6 | 146.6 | ||
EBITDA Ann. | 7.6% | 12.1 | 19.8 | 14.2 | 9.7 | |
EBITDA Ann. margin % | 20.8% | 11.53% | 13.91% | 10.29% | 6.54% | |
Interest Ann. | 6% | 6.2 | 6.7 | 7.1 | 5.2 | |
Depr. | 6.5% | 2.9 | 2.7 | 2.6 | 2.4 | |
PBT Ann. | 9.6% | 2.9 | 10.5 | 4.4 | 2.2 | |
Tax Ann. | 8.7% | 0.9 | 3.1 | 1.3 | 0.7 | |
10.1% | 2 | 7.4 | 3.1 | 1.5 | ||
Net Profit Ann. | 10.1% | 2 | 7.4 | 3.1 | 1.5 | |
NPM Ann. % | 22.9% | 1.91% | 5.26% | 2.25% | 1.03% | |
EPS Adj. latest Ann. | 8.7% | 0.9 | 3.4 | 1.4 | 0.7 |
*All financials are in INR Cr and price data in INR
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Total Rev. Ann.
1Y CHG
-26.4%
2Y CAGR
-12.9%
3Y CAGR
-11.1%
Net Profit Ann.
1Y CHG
-73%
2Y CAGR
-19.7%
3Y CAGR
10.1%
Operating Exp. Ann.
1Y CHG
-24.4%
2Y CAGR
-13.6%
3Y CAGR
-12.7%
Manilam Industries INFORMATION ON IPO ISSUE
About Manilam Industries
Manilam Industries India was incorporated on May 23, 2013. The company manufactures and sells decorative laminates in various thicknesses, offering over 1,000 designs and 100 textures across multiple collections for residential and commercial use. It also trades plywood in different grades and sizes, mainly catering to industrial and commercial sectors
Object of the Issue
- Purchase of equipment/machinery of the company & purchase and installation of solar panels at its manufacturing plant
- Repayment in full or in part, of certain loans availed by the company
- Working capital requirements of the company
- General corporate purposes
Manilam Industries - PROMOTERS
| Name |
|---|
| Umesh Kumar Nemani |
| Manoj Kumar Agrawal |
| Aman Kumar Nemani |
| Anubhav Kumar Nemani |
| Sreyas Agrawal |
Manilam Industries - MANAGEMENT & LEADERSHIP
| Name | Designation |
|---|---|
| Umesh Kumar Nemani | Managing Director |
| Manoj Kumar Agrawal | Managing Director |
| Aman Kumar Nemani | Whole-time Director |
| Sreyas Agrawal | Non-Executive Director |
| Sanjay Kumar Agarwal | Non-Executive Director |
| Anubhav Kumar Nemani | Non-Executive Director |
| Rajesh Jalan | Independent Director |
| Ganapathy Anantha Narayanan | Independent Director |
| Shikha Gupta | Independent Director |
Manilam Industries Book Running Lead Manager
Nexgen Financial Solution Private Limited
ipo@nexgenfin.com
Manilam Industries Registrar to the issue
Mas Services Limited
ipo@masserv.com
Manilam Industries Strengths
Diverse product portfolio
The company offers a diverse product portfolio of over 1,000 laminate designs and various plywood options for residential, commercial, and industrial applications. Its range includes traditional wood textures and modern patterns to meet varied design and functional requirements
Strength
Technological advancements
The company utilizes advanced machinery and controlled environments to ensure consistent laminate quality, including precise resin preparation, drying systems, and pressing parameters. Accurate thickness control and surface finishing enhance product strength and suitability for applications such as furniture and cabinetry
Strength
Distribution network
The company has developed a strong distribution network across multiple regions, ensuring efficient supply and wider product availability. This network enhances accessibility for architects, interior designers, and homeowners
Strength
Manilam Industries Risks
Customer preferences risks
The company’s products are influenced by changing designs and customer preferences, particularly in textured laminates and decorative paper. Failure to anticipate trends or adapt quickly may result in obsolete inventory and negatively impact growth and business performance
Risk
Innovation & adoptation risks
The company does not have an in-house R&D team and relies on external sources for innovation and product development. This may limit its ability to quickly adapt to technological advancements, changing customer preferences, and evolving industry standards, affecting competitiveness
Risk
Environmental regulatory risks
The company’s manufacturing operations are subject to strict environmental, health, and safety regulations due to the use of chemicals and waste-generating processes. Failure to obtain or maintain required approvals and comply with applicable laws may adversely impact its business, financial condition, and results of operations
Risk
IPO FAQs
This IPO consists of an offer for sale of up to Rs 7.5 crore, of 1,092,000 shares. It also consists of a fresh issue of Rs 32.4 crore.
The promoters of the company are Umesh Kumar Nemani, Manoj Kumar Agrawal, Aman Kumar Nemani, Anubhav Kumar Nemani and Sreyas Agrawal.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 65.0 - 69.0.
The IPO application opens on Feb 20, 2026 and closes on Feb 24, 2026.
The minimum lot size for the IPO is 4000. The maximum lot size for the IPO is 4000.
For all category investors, the minimum application amount for this IPO is Rs. 260,000.0, the maximum value for this IPO is Rs 276,000.0.
This IPO will be allotted on Feb 25, 2026.
The refund will be credited to your account on Feb 26, 2026.
The allotted shares will be credited to your demat on Feb 26, 2026.
Manilam Industries India Ltd.’s shares listed on the stock exchanges on Feb 27, 2026.