Phychem Technologies
- Issue price
- ₹ 54
- Issue size
- ₹ 14.58 Cr.
- Min. investment
- ₹ 1,08,000
- Listing price
- ₹ 56
- Subscribed
- 19.38x
- Lot size
- 2,000 shares
- P/E
- 19.42
- RoNW
- 29.30%
- RoCE
- 31.99%
- PAT margin
- 5.65%
- EPS
- ₹ 2.78
- Promoter stake
- 72.56%
About
Phychem Technologies Limited was started in June 2013. It makes rotational moulding compounds, usually called roto moulding compounds. These are the raw material that other factories use to make hollow plastic products. The company makes customised polyethylene based compounds using LLDPE, HDPE and special additives, and supplies them as powder or granules to rotational moulding manufacturers. The end products made from its compounds include water, fuel and chemical storage tanks, portable toilets, furniture, industrial containers and other custom hollow plastic parts. It also makes specialised compounds such as foam, stone effect, flame retardant, anti static and custom coloured compounds, and makes custom moulded tanks itself. Apart from this it does rotolining and toll pulverising jobwork, and distributes chemicals, compounds, tools and equipment used in the roto moulding trade. Its customers are in building and construction, water management, agriculture, automotive and consumer products, and it exports to several countries across Asia, Africa, Europe and the Middle East. Its factory is in Nashik, Maharashtra, with its own laboratory and quality control department. It is ISO 9001:2015 certified, is recognised as a One Star Export House and is a member of PLEXCONCIL. As on 30 June 2026 it had 33 permanent employees.
Timeline
- doneOpens31 Aug
- doneCloses2 Sep
- doneAllotment3 Sep
- doneRefunds4 Sep
- doneDemat credit4 Sep
- doneListing7 Sep
Grey market premium (GMP)
GMP is an unofficial premium from the unregulated grey market. It is not published, verified or regulated by SEBI, NSE or BSE, grey market deals are not legally enforceable, and it is not a reliable indicator of the listing price. Do not apply for an IPO on the basis of GMP. It is not a recommendation of Minerva Capital Research Solutions.
- Highest
- ₹ 3 on 26 Aug 2026
- Lowest
- ₹ 1 on 31 Aug 2026
- First quoted
- ₹ 3 on 26 Aug 2026
Subscription
How many times each investor group bid for its share, as of 07 Sep 2026, 06:30 PM IST.
How much to apply for
The smallest and largest bids for each kind of investor at the upper price band.
| Retail (Min) | 1 | 2,000 | ₹ 1,08,000 |
| Retail (Max) | 1 | 2,000 | ₹ 1,08,000 |
| HNI (Min) | 2 | 4,000 | ₹ 2,16,000 |
Company overview
Financials
| Assets | 20.75 | 17.83 | 14.73 |
| Total Income | 51.11 | 47.59 | 43.19 |
| Profit After Tax | 2.84 | 1.69 | 1.32 |
| EBITDA | 4.37 | 2.76 | 1.84 |
| NET Worth | 9.7 | 6.86 | 5.16 |
| Reserves and Surplus | 9.41 | 6.57 | 4.87 |
| Total Borrowing | 4.59 | 5.61 | 4.9 |
Strengths
- Profit has more than doubled in two years, from Rs 1.32 crore in FY2023 to Rs 1.69 crore in FY2024 and Rs 2.84 crore in FY2025.
- Sales have grown every year, from Rs 43.19 crore in FY2023 to Rs 47.59 crore in FY2024 and Rs 51.11 crore in FY2025.
- EBITDA more than doubled over the same period, from Rs 1.84 crore to Rs 4.37 crore.
- Return ratios are high, with RoCE of 31.99% and RoNW of 29.30%.
- The issue is priced moderately at about 19.42 times earnings on an EPS of Rs 2.78.
- Borrowing came down from Rs 5.61 crore in FY2024 to Rs 4.59 crore in FY2025.
- The product range is wide for a company of this size, covering standard compounds, specialty compounds such as flame retardant and anti static, custom moulded tanks and jobwork services.
- It exports across Asia, Africa, Europe and the Middle East, and holds ISO 9001:2015 certification along with One Star Export House recognition.
Risks
- The financial data is old for an issue opening in August 2026. The latest year given is FY2025, ending 31 March 2025, so there is no FY2026 figure to judge recent performance.
- This is a very small company. Net worth was Rs 9.70 crore as on 31 March 2025 and it had only 33 permanent employees.
- The profit margin is thin at 5.65%, which is normal for a compounding business where the polymer is most of the cost.
- The main raw materials, LLDPE and HDPE, are crude oil linked. A sharp rise in polymer prices that cannot be passed on will cut margin quickly.
- The whole business runs from one factory in Nashik, so any problem at that single location stops everything.
- Its customers are rotational moulding manufacturers, which is a narrow industry. If that trade slows down, there is no other customer base to fall back on.
- The issue is small at Rs 14.58 crore, which usually means limited trading interest after listing.
- Promoter holding will come down from 98.55% to 72.56% after the issue.
- This is an SME issue. One lot is 2,000 shares, which is about Rs 1.08 lakh at the upper band of Rs 54, and SME shares usually trade in low volume after listing.
What the money is for
| Repayment in full or in part, of certain of our outstanding borrowings | 3 |
| Funding the capital expenditure towards procurement of plant and machinery | 4.86 |
| Funding to meet working capital requirements | 3 |
| General Corporate Purpose | — |
Promoters
- Umakant Savadekar
- Ulka Umakant Savadekar
- Nivrutti Sonu Savdekar
- Vijaya Nivrutti Savdekar
Registrar, lead managers and documents
- Listing on
- BSE SME
- Face value
- ₹ 10 a share
- Registrar
- MUFG Intime India Private Limited
- Lead managers
- Hem Securities Ltd.
- Basis of allotment
- Open
IPO dates, prices, grey market premium (GMP), subscription and the company overview: IPO Guru, updated three times a day. GMP is an unofficial premium from the unregulated grey market. It is not published, verified or regulated by SEBI, NSE or BSE, grey market deals are not legally enforceable, and it is not a reliable indicator of the listing price. Do not apply for an IPO on the basis of GMP. It is not a recommendation of Minerva Capital Research Solutions.
Our recommendations are research opinions, not investment advice. Read the offer document (RHP) and consult your financial adviser before investing.