1. At a Glance
Mehul Colours is bringing a ₹21.66 crore SME IPO to BSE SME, fully a fresh issue of 30.08 lakh shares at ₹68–₹72. Retail investors need to shell out ₹2.18 lakh (2 lots) to enter. The IPO opens July 30, closes August 1, with listing expected August 6. Anchors already took a ₹6.15 Cr bite.
2. Introduction
A company that literally sells colours now wants to paint your portfolio. With PAT margins at a rare 24% and EBITDA margin above 30%, it looks shiny. But the revenue growth is just 5% in FY25. Is this brilliance sustainable or just a glossy coat?
3. Business Model – WTF Do They Even Do?
Mehul Colours manufactures masterbatches and pigments used to colour plastics. Offerings:
- White, black, colour & additive masterbatches
- UV-resistant, flame-retardant, anti-static additives
