| Annual Financials | Mar 2024 | Mar 2025 | Mar 2026 |
| Revenue | 21.53 | 48.20 | 66.67 |
| Expenses | 22.31 | 46.48 | 57.13 |
| Other Income | 1.78 | 0.45 | 0.32 |
| Total Revenue | 23.31 | 48.65 | 67.00 |
| Profit Before Tax | 0.99 | 2.17 | 9.87 |
| Net Profit | 0.72 | 1.54 | 7.48 |
S K Offset
S K Offset IPO
₹2,38,000
0.2 xOver-subscribedBidding Dates 23 Sept, 26 -25 Sept, 26
Min Investment ₹2,38,000
Lot Size1,000
Price Range ₹119 – ₹125
Issue Size ₹29.06 Cr.
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IPO Subscription Details
Retail Subscription Details
0.11 x
Non-Institutional Buyers (sHNI)
0.35 x
Non-Institutional Buyers (bHNI)
0 x
Qualified Institutional Buyers (QIB)
0.5 x
Total0.2 x
0.2 x IPO Timeline
IPO Offer Start
23 Sept,26
IPO Offer Ends
25 Sept,26
Allotment Finalisation
28 Sept,26
Refund Initiation
29 Sept,26
Listing of Shares
30 Sept,26
IPO Analysis
Strengths
The company is managed by promoters and a senior management team with experience in offset printing, packaging, and related machinery operations, providing strategic direction and overseeing day-to-day execution and business expansion.
The company handles design, pre-press, printing, finishing, packaging, and delivery internally, reducing third-party dependency and enabling better quality control, timeline management, and workflow coordination.
The company serves publishing, FMCG, pharmaceuticals, packaging, and other commercial sectors, reducing concentration risk and enabling utilization of production capabilities across a wider range of products and customers.
Risks
The company derives a substantial portion of its revenue from a limited number of customers, with the top 10 customers contributing 86.14%, 78.61%, and 81.56% of revenue in Fiscals 2026, 2025, and 2024, respectively. The company has no long-term agreements with these customers, operating purely on purchase orders, making it highly vulnerable to order cancellations, reductions, or customer loss.
The company is significantly dependent on a limited number of suppliers, with the top 10 suppliers accounting for 65.59%, 55.47%, and 89.71% of total purchases in Fiscals 2026, 2025, and 2024, respectively. Any disruption, pricing changes, or termination of relationships with key suppliers could adversely affect inventory levels, production continuity, and financial condition.
The company derives approximately 69.43%, 89.97%, and 89.41% of its revenue from Uttar Pradesh in Fiscals 2026, 2025, and 2024, respectively, and all manufacturing facilities are also located in the same state. Any adverse regional developments — including regulatory changes, natural disasters, or economic slowdowns — could have a disproportionate impact on operations and financial performance.
Objectives
The company proposes to utilize a portion of the Net Proceeds towards purchasing and setting up an Automatic Foil Stamper & Die Cutting Machine (TECHNOFOIL 1050 FC) at its existing manufacturing unit in Meerut, aimed at enhancing finishing capabilities, diversifying products, and strengthening manufacturing capacity for premium packaging and label solutions.
The company intends to utilize a portion of the Net Proceeds to meet incremental working capital requirements across Fiscal 2027 and Fiscal 2028, supporting day-to-day operational needs including inventory, trade receivables, vendor payments, and other short-term financial obligations driven by continued business growth.
The company plans to deploy the balance of the Net Proceeds towards general corporate purposes, including meeting operating expenses, brand development, technology upgrades, marketing capabilities, and other strategic initiatives, subject to a cap of fifteen percent of the gross proceeds or Rs. crores, whichever is lower.
Yearly Financial Results
Balance Sheet
| Balance Sheet | Mar 2024 | Mar 2025 | Mar 2026 |
| Total Assets | 28.85 | 55.77 | 81.76 |
| Current Assets | 18.94 | 41.54 | 60.71 |
| Fixed Assets | 9.91 | 14.23 | 21.05 |
| Total Equity & Liabilities | 28.85 | 55.77 | 81.76 |
| Total Liabilities | 24.27 | 48.57 | 61.98 |
| Current Liabilities | 19.71 | 34.26 | 49.16 |
| Non Current Liabilities | 4.56 | 14.31 | 12.82 |
| Total Equity | 4.58 | 7.20 | 19.78 |
Cash Flow
| Cash Flow | Mar 2024 | Mar 2025 | Mar 2026 |
| Net Cash Flow | 0.32 | -0.31 | 0.33 |
| Investing Activities | -6.73 | -6.26 | -8.07 |
| Operating Activities | 4.40 | -10.80 | 3.66 |
| Financing Activities | 2.65 | 16.75 | 4.74 |
About S K Offset
S.K. Offset Limited, incorporated in 2007 and headquartered in Meerut, Uttar Pradesh, is an integrated printing and packaging solutions provider operating across four facilities covering ~38,313 sq. ft. The company offers offset printing (books, brochures, catalogues), mono cartons, rigid boxes, corrugated packaging, and labelling (stickers, barcodes, IML labels) serving FMCG,...more
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Managing DirectorMr. Pradeep Agarwal
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