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Vedant Poly Fabs IPO
₹56.68 Cr · Fresh Issue · Packaging
Price Band
₹88
Lot: 1200 shares (₹105,600)
GMP (Grey Market)
—
No GMP data yet
Issue Size
₹56.68 Cr
Fresh Issue
Market Cap
₹189.43 Cr
At upper band
P/E Ratio
12.62x
Listing Date
9th Nov 2026
BSE & NSE
IPO Timeline
✓
Opens
2nd Nov 2026
✓
Closes
4 Nov 2026
📋
Allotment
5 Nov 2026
₹
Refund
6 Nov 2026
📈
Listing
9th Nov 2026
📄 Official Docs
DRHP ↗
IPO India Hub: Subscribe
Conviction
8/10
The company trades at 0.55× sector midpoint with exceptional 314% PAT CAGR and 46% ROCE, signaling strong operational efficiency and capital deployment. Key risk is modest 9.5% net margin and 1.11× debt-to-equity ratio, which limits downside protection if packaging demand softens.
Our Analysis — Key Points
✓ Strength
Exceptional profit growth trajectory
Net profit surged from ₹0.6 Cr (FY-2) to ₹11.0 Cr (FY0), a 314% two-year CAGR, while revenue grew 52.3% CAGR to ₹115.3 Cr. This demonstrates rapid operational scaling and margin expansion from 1.2% to 9.5% net profit margin.
✓ Strength
Deep valuation discount to peers
At 12.62× P/E, the company trades at just 0.55× the niche sector midpoint of 23×, offering a 45% discount despite superior growth metrics. ROCE of 46.34% and EBITDA margin of 16.5% justify premium positioning, yet valuation remains conservative.
⚠ Risk
Thin net margins limit resilience
At 9.5% NPM, the company has limited pricing power and operational cushion against raw material inflation or competitive pressure. Any margin compression would directly impact earnings, especially given cyclical nature of packaging demand.
⚠ Risk
Moderate leverage in growth phase
Debt-to-equity of 1.11× is manageable but not conservative, particularly as the company is in high-growth mode requiring capex. Rising interest rates or working capital stress could pressure cash flow if revenue growth decelerates.
₹ Valuation
Valuation significantly below sector
P/E of 12.62× is 0.55× the niche/unlisted sector midpoint (18–28×), placing it in the Subscribe zone even after accounting for 9.5% margins. The discount appears justified only if 50%+ revenue growth sustains; any slowdown to 20–25% would narrow the margin of safety.
👁 Watch
Monitor revenue growth sustainability
Post-listing, track quarterly revenue growth trajectory and gross margin trends. If growth falls below 30% or net margins compress below 8%, the valuation discount will evaporate quickly.
Top Analyst Reviews
| Analyst / Firm | Rating | Known For | Review |
|---|---|---|---|
| IPO India Hub Our independent review |
Original analysis based on DRHP & public financials | This page | |
| Dilip Davda Chittorgarh.com |
India's most followed independent IPO analyst | Search on Chittorgarh → | |
| Capital Market (CM Rating) CapitalMarket.com |
Widely-cited "New Issue Monitor" reports | Search on CapitalMarket → | |
| ICICI Securities ICICIdirect Research |
SEBI-registered broker research desk | Visit ICICIdirect → | |
| IPO Guru Analyst Leaderboard ipoguru.in |
Ranks 49 analysts by real IPO outcome accuracy | View leaderboard → |
External links go to each platform's IPO section — search for "Vedant Poly Fabs" to find the specific review. IPO India Hub does not represent the accuracy of third-party ratings.
Company Snapshot
Revenue
₹115.31 Cr
Net Profit
₹10.97 Cr
Industry
Packaging
Issue Type
Fresh Issue
Quick Actions
Frequently Asked Questions
Subscribe. The company trades at 0.55× sector midpoint with exceptional 314% PAT CAGR and 46% ROCE, signaling strong operational efficiency and capital deployment. Key risk is modest 9.5% net margin and 1.11× debt-to-equity ratio, which limits downside protection if packaging demand softens.
GMP data is not yet available for this IPO. Check our GMP Live page for the latest updates closer to the listing date.
The minimum lot size is 1200 shares. At the upper band price of ₹88, the minimum investment per retail application is ₹105,600. You can apply for up to 13 lots (₹1,372,800) under the retail category (up to ₹2 lakh).
The IPO opens on 2nd Nov 2026. It closes on 4 Nov 2026. Allotment is expected on 5 Nov 2026. Refunds initiate on 6 Nov 2026. Listing on BSE and NSE is on 9th Nov 2026.
Our analysis recommends <strong>Subscribe</strong>. The fundamentals support applying before the issue closes on 4 Nov 2026. The minimum investment is ₹105,600 for one lot (1200 shares). The company trades at 0.55× sector midpoint with exceptional 314% PAT CAGR and 46% ROCE, signaling strong operational efficiency and capital deployment. Key risk is modest 9.5% net margin and 1.11× debt-to-equity ratio, which limits downside protection if packaging demand softens.
Our analysis recommends <strong>Subscribe</strong>. The fundamentals support applying before the issue closes on 4 Nov 2026. The IPO is priced at a P/E of 12.62x. Market cap at issue price is ₹189.43 Cr. As with all IPOs, please read the DRHP and assess your own risk tolerance before investing.
You can apply via UPI through your broker's trading app (Zerodha, Upstox, Fyers, etc.) or via ASBA through your net banking portal. The minimum lot is 1200 shares at ₹88 each, costing ₹105,600 per application. The issue closes on 4 Nov 2026, so apply before that date. Step 1: Log in to your broker or bank app. Step 2: Go to IPO section and search for 'Vedant Poly Fabs'. Step 3: Enter the number of lots and UPI ID. Step 4: Accept the mandate on your UPI app.
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