Institutional Alpha Dossier

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Name: Antala Industries IPO DRHP & Primary Market Dataset (2026)
Creator: The FinReason
License: https://creativecommons.org/licenses/by-nc/4.0/

MAINBOARD SYNCING

GMP: ₹-

Est. Listing: Calculating...

IPO Execution Schedule (NSE / BSE Trading Calendar)

Bidding Opens - Issue Open

Bidding Closes - Closing Date

Basis of Allotment - Registrar Finalization

Exchange Listing - Secondary Debut

Issue Price Valuation

₹-

Upper Cap Price

Price Band Cap: Book Built / Fixed

Lot Size & Retail Matrix

- Shares

Minimum Market Lot

Min Capital: ₹-

Application Size: -

Quant Grade & Moat Score

FinReason Grade

★★★★★

FUNDAMENTALS & SPREAD

TBA Moat / 10

Proprietary Multi-Factor Moat Model

Underlying Moat Architecture & Risk Factors

💼 MINIMUM INVESTMENT

Capital Matrix

Retail (Min Lot) Up to ₹2 Lakhs Category

₹ 268000

HNI (Min Lot) sNII / High Net-Worth Tier

₹ 402000

HNI Capital Multiple: Institutional Lot Sizing

🍩 RESERVATION QUOTA (%)

Issue Allocation

100% Total Issue

Anchor 0.62%

Market Maker 5.05%

QIB 0.41%

NII / HNI 14.65%

Retail 79.26%

🏛️

Institutional Corporate Dossier

Antala Industries

COMPANY PROFILE & DNA

⏳

Incorporation / Founded

05-08-24

Active Vintage

📍

Corporate Headquarters

Rajkot, Gujarat

Registered Hub

👔 Leadership & Promoter Group

Key Management

Rajeshkumar Chandulal Antala, Lataben Rajeshbhai Antala, Pankajkumar Chandulal Antala, Hetalben Pankajkumar Antala, Nevil Pankajbhai Antala, Aaryan Rajesh Antala, Shaily Rajeshkumar Antala

⚙️ Business Overview & Portfolio Core Offerings

Manufactures, prints, laminates, and supplies industrial and commercial packaging products.

🎯 Target Market & End-Use Revenue Drivers

Packaging products for food processing, fertilizers, chemicals, and cement industries.

🛡️

★ Unique Selling Proposition (Core Economic Moat)

Experienced promoters with diversified customizable packaging portfolio across multiple end-user industries.

Objects of the Issue (Use of Proceeds & Allocation)

🎯 Objective 01 Working Capital Requirements

₹ 10.68

Allocation

🎯 Objective 02 Capital Expenditure towards Purchase of Machinery

₹ 5.89

Allocation

🎯 Objective 03 General Corporate Purposes

Balance

Allocation

🎯 Objective 04 Not Mentioned

Not Mentioned

Allocation

Financial Performance & Multi-Year Trajectory

All Figures in ₹ Crores

Latest Total Income📊

₹- Top-Line

EBITDA Margin⚡

-% Operating

Net Profit (PAT) Margin📈

-% Bottom-Line

Debt / Net Worth🛡️

-x Leverage

📊 Income, EBITDA & Profit Growth Trajectory

Income EBITDA PAT Trend

🏛️ Balance Sheet: Net Worth vs Debt

Net Worth Borrowing

Particulars	Stub	FY26	FY25	FY24
Total Income	30.11	47.4	31.85	12.51
EBITDA	5.6	5.96	2.69	1.18
Profit After Tax (PAT)	4.19	4.24	1.82	0.89
Net Worth	22.17	17.03	8.44	3.54
Total Borrowing	1.75	4.19	3.29	0.36

Growth Engine & Compounding Velocity (KPIs)

Multi-Year Trajectory

📊 Total Sales (Revenue)

Strong

47.4 ₹ Cr

YoY Growth 48.82%

3-Year CAGR 94.65%

⚡ EBITDA (Op. Profit)

Strong

5.96 ₹ Cr

YoY Growth 121.56%

3-Year CAGR 124.74%

📈 Net Profit (PAT)

Strong

4.24 ₹ Cr

YoY Growth 132.97%

3-Year CAGR 118.27%

Capital Efficiency & Return Ratios (ROE vs ROCE)

Capital Allocation Audit

◈ ROE (Return on Equity) Calculating...

Current ROE

Current Period-%

3-Year Average-%

Last Year-%

◈ ROCE (Capital Employed) Calculating...

Current ROCE

Current Period-%

3-Year Average-%

Last Year-%

MetricMetric	Current (%)Curr%	Last Year (%)Last%	3-Yr Avg (%)3Y Avg	Trend StatusTrend
ROE (Return on Equity)ROE	24.90%	21.56%	23.87%	Consistent
ROCE (Capital Employed)ROCE	28.09%	22.93%	27.09%	Consistent

Forensic Analysis & Reality Check

Earnings Quality & Dilution Audit

-0.82 CFO / EBITDA

Cash Flow Conversion Efficiency

Checking...

Analyzing operating cash flow conversion...

0.0x (Paper Profit) 70%+ Institutional Benchmark 1.0x+ (Strong Cash)

⚡ Pre-IPO vs Post-IPO Forensic Impact Meters Post-Issue Trajectory

Parameter	Pre-IPO	Post-IPO	View
Debt / Equity	0.25	0.04	Low
EPS (₹)	3.49	6.89	Accretive
ROE (%)	24.90%	10.51%	Bad
ROCE (%)	28.09%	14.15%	Bad
P/E (Valuation)	19.21	9.72	Reasonable

⏳ Debtor Days Trend (Receivables Cycle)

Analyzing...

FY24

→

FY25

→

FY26

Lower receivable days indicate faster cash collection from clients.

⚠️ Contingent Liabilities Off-Balance Sheet

₹ 0.22 Cr

*Potential hidden obligations & legal/tax claims

Company NameComp	Revenue (Cr)Rev	P/E RatioP/E	ROCE (%)ROCE	ROE (%)ROE	OPM (%)OPM
Antala Industries Limited IPO CANDIDATE	47.40	9.72 (Ask)	28.09%	10.51% (Post Issue)	12.57%
Knack Packaging Limited	80.97	24.62	28.00%	34.41%	20.05%
Dhaval Packaging Limited	65.03	18.5	22.58%	31.58%	21.36%
NA	0	0	0	0	0
NA	0	0	0	0	0
NA	0	0	0	0	0

Strategic SWOT Analysis & Risk-Reward Matrix

4-Quadrant Institutional Assessment

▲ Positive Catalysts (Strengths + Opportunities): 8 Factors ▼ Risk Vectors (Weaknesses + Threats): 8 Factors

Strengths Internal Competitive Moat

4 Drivers

Experienced promoters with deep packaging industry expertise
Diversified product portfolio with customized solutions capability
Long standing relationships with diverse corporate clients
Modern manufacturing facilities with advanced automated machinery

Weaknesses Internal Operational Constraints

4 Factors

High working capital requirements for inventory management
Geographic concentration of manufacturing facilities in Gujarat
Dependence on top suppliers for raw materials
Fluctuations in raw material prices impacting profitability

Opportunities External Growth Tailwinds

4 Vectors

Growing global demand for eco friendly packaging
Expansion into new geographic markets and exports
Increasing consumption in food and agricultural sectors
Capacity expansion funded through initial public offering

Threats & Risks External Macro & Sector Headwinds

4 Risks

Intense competition from unorganized regional packaging players
Regulatory changes regarding plastic usage and waste
Volatility in crude oil prices affecting polymer costs
Economic slowdown affecting end user industry growth

Top 10 Anchor Investors & Smart-Money Allocation

INSTITUTIONAL BOOK

Top 10 Anchor Commitment

₹- Cr

Smart-Money Quality Score

- / 5.0 ★ Marquee Conviction

SEBI Anchor Lock-In Schedule

30D (50%) • 90D (50%) Mandatory Lock-In

Anchor Book Allocation Pending Exchange Filing

Institutional anchor investor bidding & allocation disclosures are officially filed with NSE/BSE 1 working day prior to the IPO opening date.

Rank	Marquee Anchor Institution	Smart-Money Grade	Amount Invested	Anchor Share (%)

Score 5/10 (Base 4, Sector +1, Co +3, Risk -3) | SECTOR MOAT: Sector CAGR 3.24% with domestic e-commerce and retail tailwinds in a fragmented industry. | COMPANY MOAT: Low entry barriers offset by strong FY25 ROE 24.90%, ROCE 28.09%, EBITDA margin 12.97%, and 63.14% repeat sales. | KEY RISKS: Top 10 clients drive 47.43% revenue, negative operating cash flow -₹4.88 Cr, and raw materials over 88% sales. | VERDICT: Moderate moat backed by high return ratios, tempered by polymer cost volatility and working capital intensity. 0.62 5.05

IPO Subscription & Book-Building Demand Matrix

NSE / BSE Book-Building Feed

Aggregate Book Subscription

-x

Syncing Book...

Analyzing category-wise oversubscription & allotment odds... QIB vs Retail Spread

0.0x (Unfilled) 1.0x (Full Cover) 10x (Strong) 50x (High Demand) 100x+ (Blockbuster)

QIB Quota Qualified Institutional Buyers

Smart Money

-x Institutional Book

Inst. Conviction: Evaluating

NII / HNI Quota sNII (₹2L-10L) & bNII (₹10L+)

HNI Desk

-x Non-Institutional

HNI Competition Ratio: -

Retail (RII) Quota Individual Investors (Up to ₹2L)

SEBI Lottery

-x Retail Book

Retail Allotment Odds: -

Antala Industries IPO: Key Issue Details, GMP & DRHP Quantitative Summary

Below is the institutional primary market dataset for Antala Industries (SME IPO) compiled from official offer documents (DRHP/RHP) and exchange filings:

IPO Name	Antala Industries
Status	✅ Active
Rating	TBA
Price	₹ 67
Lot/Size	2000
Dates Short	29 Oct - 02 Nov
Open Date	29-10-26
Close Date	02-11-26

Disclaimer: All data, moat scores, and indicative grey market figures are algorithmic and informational compilations for educational study only. The FinReason does not provide Buy/Sell/Subscribe/Avoid recommendations.

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💼 MINIMUM INVESTMENT

🍩 RESERVATION QUOTA (%)

IPO Subscription & Book-Building Demand Matrix

Antala Industries IPO: Key Issue Details, GMP & DRHP Quantitative Summary

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