Jivial Industries Limited reported a 27% rise in net profit to ₹375.40 lakh for the financial year ended March 31, 2026, compared to ₹296.28 lakh in the previous year. Revenue from operations surged 47% to ₹1,763.43 lakh from ₹1,200.61 lakh in FY25. The board approved the audited standalone financial results during a meeting held on July 22, 2026.

The company's total revenue for FY26 stood at ₹1,773.71 lakh, up from ₹1,206.79 lakh in the prior year. Total expenses increased to ₹1,311.68 lakh from ₹848.30 lakh, primarily due to higher material costs and finance charges. Profit before tax rose to ₹462.02 lakh from ₹358.49 lakh. Basic and diluted earnings per share increased to ₹11.34 from ₹8.95.

Auditor and Appointments

M/s. S V J K and Associates, Statutory Auditors, issued an unmodified opinion on the financial results. The board appointed M/s. G R Shah & Associates as Secretarial Auditors and M/s. N. N. Kapuriya & Co as Internal Auditors for the financial years 2025-26 and 2026-27.

Financial Position

The company's total assets grew to ₹1,619.60 lakh as of March 31, 2026, from ₹1,025.34 lakh a year earlier. Shareholders' funds increased to ₹1,247.08 lakh from ₹871.69 lakh, driven by a rise in reserves and surplus to ₹916.08 lakh from ₹540.69 lakh.

Cash Flow

Net cash from operating activities declined to ₹54.43 lakh from ₹98.00 lakh in the previous year. Cash and cash equivalents decreased to ₹21.03 lakh from ₹94.33 lakh, primarily due to higher working capital requirements and capital expenditure.

Jivial Industries Limited, a Gujarat-based manufacturer of aluminium railings and fixtures, will open its initial public offering (IPO) on June 23, 2026. The company aims to raise ₹26.64 crore through a fresh issue to finance capacity expansion, a new Glass Fibre Reinforced Polymers (GFRP) product line, and general corporate purposes. Proceeds from the issue will support backward integration and the renovation of a second manufacturing facility in Rajkot.

The IPO opens on June 23, 2026, and closes on June 25, 2026. The allotment date is June 29, 2026, and the listing is scheduled for July 1, 2026. The total issue size comprises a fresh issue of ₹26.64 crore. The price band, face value, and lot size were not disclosed in the draft red herring prospectus (DRHP).

Financial Performance

Jivial Industries has demonstrated significant revenue growth and margin expansion over the past three years. Revenue from operations increased from ₹8.40 crore in FY2023 to ₹12.01 crore in FY2025. Profit After Tax (PAT) rose from ₹1.17 crore in FY2023 to ₹2.97 crore in FY2025.

The EBITDA margin improved from 16.96% in FY2023 to 31.08% in the nine months ending December 31, 2025. However, the company reported negative cash flow from operations of ₹0.09 crore for the nine months ending December 31, 2025.

Objects of the Issue

The company plans to utilise the net proceeds from the IPO for specific capital expenditures and general corporate needs.

The allocation of ₹14.40 crore for new machinery will be used to increase installed capacity, set up manufacturing capabilities for GFRP, and achieve backward integration. The renovation of Manufacturing Facility Unit No. II in Rajkot, costing ₹4.00 crore, aims to mitigate the risk associated with operating a single facility.

Business Overview and Risks

Incorporated in 2021, Jivial Industries manufactures finished aluminium railings and fixtures, including continuous profiles, handrails, and spigots. The company holds three patents for unique spigot product designs and operates at 66.75% of its manufacturing capacity as of December 31, 2025. Its customer base has grown from 291 to 327 over the last three years.

The company faces several risks, including dependency on external suppliers for raw materials, which constitute 55.73% to 68.60% of revenue from operations. It operates without written contracts with customers, and the top 10 customers contribute 35.32% to 63.74% of revenues. Additionally, the company is geographically concentrated in Gujarat, Maharashtra, and Chhattisgarh, and all manufacturing facilities are on leased premises.