| Annual Financials | Mar 2024 | Mar 2025 | Mar 2026 |
| Revenue | 62.32 | 92.07 | 120.01 |
| Expenses | 57.27 | 81.87 | 104.67 |
| Other Income | 0.08 | 0.24 | 0.28 |
| Total Revenue | 62.40 | 92.31 | 120.30 |
| Profit Before Tax | 5.13 | 10.44 | 15.63 |
| Net Profit | 3.31 | 8.24 | 11.42 |
Kheria Autocomp
Kheria Autocomp IPO
₹2,30,400
Bidding Dates 17 Sept, 26 -21 Sept, 26
Min Investment ₹2,30,400
Lot Size1,200
Price Range ₹96 – ₹101
Issue Size ₹46.44 Cr.
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IPO Timeline
IPO Offer Start
17 Sept,26
IPO Offer Ends
21 Sept,26
Allotment Finalisation
22 Sept,26
Refund Initiation
23 Sept,26
Listing of Shares
24 Sept,26
IPO Analysis
Strengths
The company has developed over a decade of operational experience in plastic injection moulding components since incorporation in 2009, achieving a CAGR of 38.77% in revenue from operations over the previous 3 FY with revenues of ₹12,001.47 lakhs, ₹9,207.17 lakhs, and ₹6,231.93 lakhs respectively.
The company operates a manufacturing facility at the Tata Vendor Park in Sanand, Gujarat, providing logistical advantages with freight and carriage outward expenses representing only 1.64%, 1.78%, and 2.48% of total revenue from operations for FY 2026, 2025, and 2024 respectively.
The company employs advanced manufacturing systems with over 20 industrial robots deployed since the first installation in 2020, with capital work-in-progress of ₹1,841.15 lakhs as on March 31, 2026, and investments in plant and machinery of ₹442.13 lakhs, ₹717.64 lakhs, and ₹823.25 lakhs respectively.
Risks
The company operates as a Tier-II supplier with extreme customer concentration - top 5 customers contribute 97-98% of revenue and top 1 customer contributes 31-50% of revenue. Any reduction or discontinuance of demand from Tier-I vendors due to OEM production slowdowns, vendor rationalization, or technological changes could materially impact business operations and financial performance.
The company derives 99.88-99.96% of revenue from customers located in Gujarat state. Any adverse economic, political, regulatory, or environmental developments in Gujarat could disproportionately impact operations, capacity utilization, and financial performance due to this extreme geographic concentration.
The company's revenues are substantially derived from automotive sector supply, making performance intrinsically linked to automobile production and sales. Any downturn in OEM demand, technological shifts like EV adoption, or changes in automotive market conditions could significantly reduce procurement by Tier-I customers and materially affect revenues.
Objectives
The company intends to establish a new manufacturing unit at Plot E-560, GIDC Sanand-II Industrial Estate to expand manufacturing capacities for existing products. This expansion will increase overall capacity, production and revenue while achieving economies of scale to improve profit margins.
The company will utilize funds for working capital requirements, capital expenditure, funding growth opportunities including strategic initiatives, meeting operational expenses, and other purposes as approved by the Board within regulatory limits.
Yearly Financial Results
Balance Sheet
| Balance Sheet | Mar 2024 | Mar 2025 | Mar 2026 |
| Total Assets | 53.14 | 81.79 | 106.23 |
| Current Assets | 13.31 | 28.20 | 29.97 |
| Fixed Assets | 39.82 | 53.59 | 76.26 |
| Total Equity & Liabilities | 53.14 | 81.79 | 106.23 |
| Total Liabilities | 33.14 | 53.55 | 66.71 |
| Current Liabilities | 15.55 | 25.43 | 36.65 |
| Non Current Liabilities | 17.59 | 28.12 | 30.06 |
| Total Equity | 20.00 | 28.24 | 39.52 |
Cash Flow
| Cash Flow | Mar 2024 | Mar 2025 | Mar 2026 |
| Net Cash Flow | -0.12 | 0.11 | 0.24 |
| Investing Activities | -15.33 | -17.98 | -26.64 |
| Operating Activities | 9.82 | 8.40 | 26.03 |
| Financing Activities | 5.39 | 9.69 | 0.86 |
About Kheria Autocomp
The company is an auto ancillary unit engaged in plastic injection moulding, specializing in manufacturing plastic injection moulding sub-assembly operations and supplying primarily to the automotive sector. The company operates as a Tier-II supplier, producing moulded plastic components according to Tier-I vendor specifications, who supply to original equipment manufacturers (OEMs)...more
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Managing DirectorVinay Kheria
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