Anubhav Plast IPO Review — Should You Apply?
Neutral - Apply with Caution
Limited subscription momentum and modest grey market premium suggest cautious sentiment.
Anubhav Plast IPO Review Summary
Anubhav Plast was a case of strong numbers meeting cool sentiment — a plastics maker with an outstanding 62.25% ROCE at a modest 12x valuation, yet demand was just 1.23x and the stock listed flat before slipping below issue.
The market's caution reflected its small scale and commoditised segment. This suited value investors who trust the ratios over sentiment; compare it on our IPO performance page. This is informational analysis based on available data, not investment advice.
Who Should Consider This IPO?
This IPO suited value investors comfortable with micro-cap risk who prize high return ratios and a cheap multiple over listing-day momentum. New to applying? Our how to apply for an IPO guide helps.
It was less suited to those chasing a listing pop — the debut was negative — or wary of polymer-cost swings and small-scale fragility. Applications go through a discount demat account via UPI.
Detailed Investment Analysis
At the upper band of ₹80, Anubhav Plast was valued at 12x earnings on an EPS of ₹6.42 — a modest multiple, especially against the exceptional 62.25% ROCE. On paper, that's an attractive value-plus-quality combination.
The financial profile genuinely impresses on returns. A 47.78% RONW and 62.25% ROCE from a lean capital base show a highly efficient operation, and the 12.41% EBITDA margin is respectable for commoditised plastics. Revenue of ₹80.49 Cr is modest, though, keeping it firmly in micro-cap territory.
The risks explain the cool reception. Plastic processing is competitive and exposed to volatile polymer input costs, the business is small and likely client-concentrated, and such high return ratios rarely persist as equity grows. Post-issue, sustaining these numbers is the central question.
The market was unconvinced. The issue was subscribed just 1.23x overall, and the stock listed flat at its ₹80 issue price before slipping to ₹76 — a weak debut despite the strong underlying ratios. Our IPO profit calculator can size the math. Investors should consult a SEBI-registered financial advisor before making investment decisions.
Strengths
- Outstanding capital efficiency, with an ROCE of 62.25% and RONW of 47.78% from a lean balance sheet.
- A modest valuation at 12x earnings, undemanding against those return ratios.
- A healthy 12.41% EBITDA margin, respectable for commoditised plastic products.
- A 100% fresh issue means the full ₹24 Cr funds capacity and working capital.
- Profitable and growing, with revenue of ₹80.49 Cr and net profit of ₹5.30 Cr.
Risks & Concerns
- A weak market debut — the stock listed flat at ₹80 and slipped to ₹76, below its issue price.
- Very cool demand, with the issue subscribed just 1.23x, signalling limited investor conviction.
- Exposure to volatile polymer input costs, which can squeeze margins in a commoditised segment.
- Small scale and likely client concentration make revenue more fragile than larger peers.
- Sustaining a 62% ROCE after the equity raise will be difficult, so return ratios may normalise.
Want Full IPO Data?
This review focuses on analysis. For complete IPO details — GMP history, subscription day-wise, financial tables, allocation breakdown, and registrar/lead manager info — visit the full data page.
View Anubhav Plast IPO Full Details →Frequently Asked Questions
What was Anubhav Plast IPO's price band and lot size?
Anubhav Plast was priced at ₹77 to ₹80 per share, with a lot of 1,600 shares — a per-lot value of about ₹1.28 lakh at the upper band. The face value was ₹10.
Why did Anubhav Plast have a weak listing?
Despite strong return ratios, demand was cool at just 1.23x subscription, and the stock listed flat at ₹80 before slipping to ₹76 — investors were cautious on its small scale and commoditised segment.
How strong are Anubhav Plast's financials?
The return ratios are excellent — RONW of 47.78% and ROCE of 62.25% — on revenue of ₹80.49 Cr, though the business is small and those ratios may be hard to sustain.
Was Anubhav Plast IPO cheap?
Reasonably — at 12x earnings on an EPS of ₹6.42, it was modestly priced, especially given the 62.25% ROCE.
Disclaimer: This review is informational analysis based on publicly available data. It is NOT investment advice. The verdict is a data-driven signal, not a recommendation to buy or sell. IPO GMP is unofficial and unregulated. Consult a SEBI-registered financial advisor before making investment decisions. Stock market investments are subject to market risks.