| Annual Financials | Mar 2025 | Mar 2026 |
| Revenue | 151.94 | 179.89 |
| Expenses | 125.94 | 148.51 |
| Other Income | 2.49 | 4.68 |
| Total Revenue | 154.44 | 184.57 |
| Profit Before Tax | 28.50 | 36.06 |
| Net Profit | 20.76 | 27.01 |
Clay Craft
Clay Craft IPO
₹2,31,600
2.37 xOver-subscribedBidding Dates 17 Jun, 26 -19 Jun, 26
Min Investment ₹2,31,600
Lot Size600
Price Range ₹193 – ₹203
Issue Size ₹110.11 Cr.
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IPO Subscription Details
Retail Subscription Details
1.55 x
Non-Institutional Buyers (sHNI)
1.1 x
Non-Institutional Buyers (bHNI)
1.95 x
Qualified Institutional Buyers (QIB)
4.32 x
Total2.37 x
2.37 x IPO Timeline
IPO Offer Start
17 Jun,26
IPO Offer Ends
19 Jun,26
Allotment Finalisation
22 Jun,26
Refund Initiation
23 Jun,26
Listing of Shares
24 Jun,26
IPO Analysis
Strengths
The company operates two manufacturing facilities in Rajasthan with a combined installed capacity of approximately 6,000 metric tonnes per annum, equipped with requisite plant and machinery enabling both manufacturing and design functions in-house.
The company's promoters have decades of combined experience in the ceramic tableware industry, with Rajesh Narain Agarwal having 36 years, Vikas Agarwal having 27 years, Bharat Agarwal having 25 years, and Deepak Agarwal having 16 years of experience.
The company undertakes comprehensive activities including product designing, development, manufacturing, decal printing, and packaging entirely within its own facilities, with ISO 9001:2015 certification for quality management systems.
Risks
The company derives over 90% of its revenue from its in-house brands Clay Craft and JCPL, making brand recognition critical to its business. Any negative publicity, product quality issues, or brand infringement could diminish customer loyalty and significantly impact revenues and profitability.
The company depends on key suppliers for 52-58% of raw material purchases without long-term agreements, creating supply chain vulnerability. Any denial of supplies or loss of supplier relationships could disrupt operations and adversely affect business performance.
Raw material costs represent 24-28% of total expenses, with the company having limited ability to control pricing or timing of cost changes. Fluctuations in raw material prices, especially natural calcium phosphate, could significantly impact margins if cost increases cannot be passed to customers.
Objectives
The company intends to utilize IPO proceeds for expansion and purchase of additional new plant and machinery to expand existing production capacity and undertake civil work for design, manufacture, supply and installation of pre-engineered building to provide additional space for machines and storing ceramic products.
The company will have flexibility in utilizing proceeds for general corporate purposes including meeting operating expenses, initial development costs for projects, strengthening business development and marketing capabilities, meeting exigencies, and other purposes as approved by the Board of Directors.
Yearly Financial Results
Balance Sheet
| Balance Sheet | Mar 2025 | Mar 2026 |
| Total Assets | 217.39 | 251.95 |
| Current Assets | 103.41 | 120.16 |
| Fixed Assets | 113.98 | 131.79 |
| Total Equity & Liabilities | 217.39 | 251.95 |
| Total Liabilities | 78.34 | 85.89 |
| Current Liabilities | 44.51 | 54.42 |
| Non Current Liabilities | 33.83 | 31.47 |
| Total Equity | 139.05 | 166.06 |
Cash Flow
| Cash Flow | Mar 2025 | Mar 2026 |
| Net Cash Flow | 23.17 | 3.68 |
| Investing Activities | -0.65 | -21.08 |
| Operating Activities | 27.17 | 26.64 |
| Financing Activities | -3.35 | -1.89 |
About Clay Craft
Clay Craft India Limited is a manufacturer and distributor of ceramic tableware products in India, engaged in the design, development, production and sale of a wide range of ceramic tableware including dinner sets, tea and coffee serving sets, mugs, tumblers, platters, bowls, and table top accessories. The company markets products...more
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Managing DirectorRajesh Narain Agarwal
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