| Annual Financials | Mar 2024 | Mar 2025 | Mar 2026 |
| Revenue | 130.79 | 146.13 | 147.69 |
| Expenses | 121.52 | 133.75 | 132.10 |
| Other Income | 0.75 | 1.06 | 0.65 |
| Total Revenue | 131.54 | 147.18 | 148.34 |
| Profit Before Tax | 10.02 | 13.44 | 17.24 |
| Net Profit | 7.43 | 9.98 | 12.76 |
Sumax Engineering
Sumax Engineering IPO
₹2,28,000
1.59 xOver-subscribedBidding Dates 25 Aug, 26 -28 Aug, 26
Min Investment ₹2,28,000
Lot Size1,200
Price Range ₹95 – ₹101
Issue Size ₹53.40 Cr.
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IPO Subscription Details
Retail Subscription Details
2.83 x
Non-Institutional Buyers (sHNI)
1.2 x
Non-Institutional Buyers (bHNI)
0.44 x
Qualified Institutional Buyers (QIB)
0 x
Total1.59 x
1.59 x IPO Timeline
IPO Offer Start
25 Aug,26
IPO Offer Ends
28 Aug,26
Allotment Finalisation
31 Aug,26
Refund Initiation
01 Sept,26
Listing of Shares
02 Sept,26
IPO Analysis
Strengths
The company has promoters with wide experience in Automotive OEM field, supported by a diverse Board of Directors and robust management team with over 30 years of extensive experience in automotive OEM manufacturing industry.
The company's portfolio encompasses broad spectrum of industrial specialty adhesive tapes, rubbing and polishing compounds, car care products, polishing and buffing pads, reflective tapes, and printing domes with ISO 9001:2015 and IATF 16949:2016 accreditation.
The company has established long-term partnerships with OEMs that enhance credibility and foster trust, enabling close collaboration to address evolving market needs and drive innovation in the automotive sector.
Risks
The company's raw material costs represented 44.29% of total revenues in Fiscal 2024, rising to 36.57% in Fiscal 2026. Import purchases constitute 76.65% of total purchases (₹8,182.37 Lakhs in FY2026), making the company highly vulnerable to global commodity price volatility, supply chain disruptions, and geopolitical trade tensions.
The company sources materials from 12+ countries with China (17.54%), Portugal (27.10%), and South Korea (11.46%) being major suppliers. This exposes the company to geopolitical risks, trade sanctions, foreign exchange fluctuations, and potential supply chain disruptions that could materially impact operations and costs.
The company's top 10 customers contribute 55.59% of total sales in Fiscal 2026 (46.43% in FY2025, 43.92% in FY2024). Loss of any key customer or reduced demand from them could significantly impact revenues, profitability, and overall business performance.
Objectives
The company intends to establish a new manufacturing facility on leased land for manufacturing adhesive tapes, die-cuts, rubbing compounds, buffing pads, reflective tapes and car care products to expand production capacity and strengthen operations.
The company plans to set up another manufacturing facility on owned land to enhance in-house production capabilities, reduce reliance on external vendors, and support growing customer demand in the die-cut segment.
The company proposes to utilize funds for meeting its working capital needs to support future growth requirements, fund inventory, trade receivables and other operational expenses.
The company intends to use funds for general corporate purposes in accordance with regulatory requirements, not exceeding fifteen percent of the amount being raised or ten crores, whichever is less.
Yearly Financial Results
Balance Sheet
| Balance Sheet | Mar 2024 | Mar 2025 | Mar 2026 |
| Total Assets | 54.00 | 66.14 | 84.81 |
| Current Assets | 45.87 | 57.87 | 50.71 |
| Fixed Assets | 8.13 | 8.26 | 34.10 |
| Total Equity & Liabilities | 54.00 | 66.14 | 84.81 |
| Total Liabilities | 15.13 | 17.28 | 23.20 |
| Current Liabilities | 14.01 | 15.78 | 14.81 |
| Non Current Liabilities | 1.12 | 1.50 | 8.39 |
| Total Equity | 38.87 | 48.86 | 61.62 |
Cash Flow
| Cash Flow | Mar 2024 | Mar 2025 | Mar 2026 |
| Net Cash Flow | 2.81 | 2.01 | -3.79 |
| Investing Activities | -2.13 | 0.41 | -27.43 |
| Operating Activities | 3.79 | 0.70 | 18.80 |
| Financing Activities | 1.15 | 0.90 | 4.85 |
About Sumax Engineering
Sumax Engineering Limited is engaged in both manufacturing and trading of automotive products for OEM and Auto Refinish markets. The company's manufacturing division specializes in adhesive tapes and die-cuts, rubbing and polishing compounds, buffing pads, reflective tapes, printing solutions, domes and graphics, and car care products. The company also trades...more
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Managing DirectorSudeep Mehta
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