| Annual Financials | Mar 2023 | Mar 2024 | Mar 2025 |
| Revenue | 8.40 | 11.06 | 12.01 |
| Expenses | 6.98 | 8.12 | 8.48 |
| Other Income | 0.00 | 0.00 | 0.06 |
| Total Revenue | 8.40 | 11.06 | 12.07 |
| Profit Before Tax | 1.42 | 2.94 | 3.58 |
| Net Profit | 1.17 | 2.41 | 2.97 |
Jivial Industries
Jivial Industries IPO
₹2,35,200
0.42 xOver-subscribedBidding Dates 23 Jun, 26 -25 Jun, 26
Min Investment ₹2,35,200
Lot Size600
Price Range ₹196 – ₹196
Issue Size ₹31.99 Cr.
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IPO Subscription Details
Retail Subscription Details
0.13 x
Non-Institutional Buyers (bHNI)
0.5 x
Total0.42 x
0.42 x IPO Timeline
IPO Offer Start
23 Jun,26
IPO Offer Ends
25 Jun,26
Allotment Finalisation
29 Jun,26
Refund Initiation
30 Jun,26
Listing of Shares
01 Jul,26
IPO Analysis
Strengths
The company has built a strong brand reputation in the aluminium railing manufacturing industry through its commitment to quality, innovation, and customer satisfaction, with customer base increasing from 291 to 327 in the last 3 years.
The company has maintained consistent revenue growth from Rs. 839.93 lakhs (FY 2023) to Rs. 1,211.35 lakhs (Dec 2025) with EBITDA margin improving from 16.96% to 31.08%.
The company has established a good customer base across various parts of the country, working with a wide range of retailers and contractors from small residential projects to large-scale commercial developments.
Risks
The company is dependent on external suppliers for major raw materials including extruded aluminium railings and unfinished aluminium castings. Aluminium price volatility determined by global market forces could adversely impact profitability if costs cannot be recovered from customers, with material costs representing 55.73%-68.60% of revenues from operations.
The company operates on purchase order basis without written agreements or contracts with customers, who could stop placing orders at any time. Top 10 customers contribute 35.32%-63.74% of revenues, creating significant revenue concentration risk and potential cash flow disruptions.
The company generates substantial revenue from three states - Gujarat (44.43%-57.60%), Maharashtra (8.17%-14.92%), and Chhattisgarh (7.69%-11.63%). Any adverse developments in these regions including economic conditions, regulatory changes, or political unrest could significantly impact revenues.
Objectives
The company proposes to purchase new machineries to increase installed capacity, set up manufacturing capability of Glass Fibre Reinforced Polymers as new product offering, and achieve backward integration of current product line like unfinished aluminium extruded railings.
The company intends to deploy funds for internal civil construction of Manufacturing Facility Unit No. II located at Shed No. C-45/46, Survey No. 109, 110, 112, 118 Paikee 1/Paikee 2, Samadhiya, Rajkot, Gujarat.
The company intends to deploy funds towards general corporate purposes to drive business growth, including meeting operating expenses, strengthening business development and marketing capabilities, and meeting exigencies in the ordinary course of business.
The company intends to deploy funds towards Expenses
Yearly Financial Results
Balance Sheet
| Balance Sheet | Mar 2023 | Mar 2024 | Mar 2025 |
| Total Assets | 2.16 | 6.94 | 10.25 |
| Current Assets | 2.06 | 4.97 | 7.62 |
| Fixed Assets | 0.10 | 1.97 | 2.63 |
| Total Equity & Liabilities | 2.16 | 6.94 | 10.25 |
| Total Liabilities | 0.63 | 1.20 | 1.54 |
| Current Liabilities | 0.45 | 0.81 | 1.20 |
| Non Current Liabilities | 0.18 | 0.39 | 0.33 |
| Total Equity | 1.53 | 5.75 | 8.72 |
Cash Flow
| Cash Flow | Mar 2023 | Mar 2024 | Mar 2025 |
| Net Cash Flow | 0.09 | 0.67 | 0.12 |
| Investing Activities | -0.11 | -1.99 | -0.78 |
| Operating Activities | 0.17 | 0.63 | 0.98 |
| Financing Activities | 0.03 | 2.04 | -0.08 |
About Jivial Industries
Jivial Industries Limited is a Gujarat-based manufacturer of finished aluminium railings and fixtures from unfinished extruded aluminium railings and unfinished aluminium castings. The company engineers aluminium railings and fixtures for holding glass in partitions, balconies, viewing windows, and building facades, manufacturing continuous profiles for bottom glass holding and handrails for...more
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Managing DirectorAnand Jitendrabhai Chovatiya
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