Institutional Alpha Dossier
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MAINBOARD
SYNCING
GMP: ₹-
Est. Listing: Calculating...
01
Bidding Opens
-
Issue Open
02
Bidding Closes
-
Closing Date
03
Basis of Allotment
-
Registrar Finalization
04
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
Proprietary Multi-Factor Moat Model
Synthesizing institutional thesis...
💼 MINIMUM INVESTMENT
Capital Matrix
Retail (Min Lot)
Up to ₹2 Lakhs Category
₹0
HNI (Min Lot)
sNII / High Net-Worth Tier
₹0
HNI Capital Multiple:
Institutional Lot Sizing
🍩 RESERVATION QUOTA (%)
Issue Allocation
100%
Total Issue
Anchor
28.5%
Market Maker
5.01%
QIB
19%
NII / HNI
14.25%
Retail
33.25%
Institutional Corporate Dossier
Kheria Autocomp
COMPANY PROFILE & DNA
Incorporation / Founded
12/11/2009
Active Vintage
Corporate Headquarters
Sanand, Gujarat
Registered Hub
👔 Leadership & Promoter Group
Key Management
Tara Chand Kheria, Vinay Kheria, Sushma Kheria, Santosh Devi Kheria
⚙️ Business Overview & Portfolio
Core Offerings
Manufacturer of plastic injection moulded components and assemblies for automotive sector
🎯 Target Market & End-Use
Revenue Drivers
Used in automotive interior cabin trims exterior body components under-hood parts and HVAC ducts
🛡️
★ Unique Selling Proposition (Core Economic Moat)
Over a decade of operational experience in manufacturing plastic injection moulding auto components with IATF certified facilities
Objects of the Issue (Use of Proceeds & Allocation)
🎯 Objective 01
Capital Expenditure for setting up new manufacturing facility
₹ 39.96 Cr
Allocation
🎯 Objective 02
General Corporate Purposes
Balance
Allocation
🎯 Objective 03
Not Mentioned
Not Mentioned
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 | FY26 | FY26 | FY25 | FY24 |
|---|---|---|---|---|
| Total Income | 120.01 | 120.01 | 92.07 | 62.32 |
| EBITDA | 18.79 | 18.79 | 12.9 | 6.95 |
| Profit After Tax (PAT) | 11.42 | 11.42 | 8.24 | 3.31 |
| Net Worth | 39.52 | 39.52 | 28.24 | 20 |
| Total Borrowing | 35.03 | 35.03 | 30.9 | 18.83 |
Growth Engine & Compounding Velocity (KPIs)
Multi-Year Trajectory
120.01
₹ Cr
YoY Growth
0.3035
3-Year CAGR
0.3877
22.9
₹ Cr
YoY Growth
0.4153
3-Year CAGR
0.5318
11.42
₹ Cr
YoY Growth
0.3859
3-Year CAGR
0.8575
Capital Efficiency & Return Ratios (ROE vs ROCE)
Capital Allocation Audit
◈ ROE (Return on Equity)
Calculating...
-%
Current ROE
◈ ROCE (Capital Employed)
Calculating...
-%
Current ROCE
| MetricMetric | Current (%)Curr% | Last Year (%)Last% | 3-Yr Avg (%)3Y Avg | Trend StatusTrend |
|---|---|---|---|---|
| ROE (Return on Equity)ROE | 0.289 | 0.2918 | 0.2488 | Highly Efficient |
| ROCE (Capital Employed)ROCE | 0.252 | 0.2181 | 0.2164 | Consistent Returns |
Forensic Analysis & Reality Check
Earnings Quality & Dilution Audit
1.14
CFO / EBITDA
Cash Flow Conversion Efficiency
Checking...
Analyzing operating cash flow conversion...
| Parameter | Pre-IPO | Post-IPO | View |
|---|---|---|---|
| Debt / Equity | 0.89 | 0.41 | Low |
| EPS (₹) | 7.21 | 7.21 | Diluting |
| ROE (%) | 0.289 | 0.1328 | Good |
| ROCE (%) | 0.252 | 0.1553 | Good |
| P/E (Valuation) | 14.02 | 14.02 | Reasonable |
⏳ Debtor Days Trend (Receivables Cycle)
Analyzing...
FY24
FY25
FY26
Lower receivable days indicate faster cash collection from clients.
⚠️ Contingent Liabilities
Off-Balance Sheet
₹ 0.02 Cr
*Potential hidden obligations & legal/tax claims
Peer Comparison Analysis & Competitive Matrix
Industry Benchmarking
| Company NameComp | Revenue (Cr)Rev | P/E RatioP/E | ROCE (%)ROCE | ROE (%)ROE | OPM (%)OPM |
|---|---|---|---|---|---|
| Kheria Autocomp Limited IPO CANDIDATE | 120.01 | 14.02 (Ask) | 0.252 | 13.28% (Post Issue) | 0.1566 |
| Machino Plastics Limited | ₹ 492.16 Cr | 104.31 | 0.0512 | 0.0132 | 0.0736 |
| PPAP Automotive Limited | ₹ 567.05 Cr | 5.82 | 0.1359 | 0.1373 | 0.0908 |
| NA | 0 | NA | NA | NA | NA |
| NA | 0 | NA | NA | NA | NA |
| NA | 0 | NA | NA | NA | NA |
▲ Positive Catalysts (Strengths + Opportunities):
8 Factors
▼ Risk Vectors (Weaknesses + Threats):
8 Factors
Strengths
Internal Competitive Moat
- Long history with deep industry expertise
- Strategic plant location in Sanand Gujarat automotive hub
- Scalable and modern manufacturing facility
- Strong customer base across automotive sector
Weaknesses
Internal Operational Constraints
- Limited brand visibility in broader OEM space
- Execution dependence on entry-level talent
- Client concentration and geographic dependency in Gujarat
- High working capital requirements
Opportunities
External Growth Tailwinds
- Expansion into EV Segment
- Customer Base Diversification
- Sustainability as a differentiator
- Development of high value integrated products to increase content per vehicle
Threats & Risks
External Macro & Sector Headwinds
- Client concentration and dependency
- Talent retention and skills gap
- Raw material price volatility and supply chain disruption
- Competition from fragmented market players
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 (%) |
|---|
104.9
Base score 5. Added +1 for high entry barriers, +1 for ROE and ROCE consistently above 15%, +1 for expanding EBITDA margins, and +1 for high B2B client stickiness. Deducted -1 for highly fragmented industry, -1 for client concentration with over 97% revenue from top 5 clients, and -1 for high working capital requirements.
28.5
5.01
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:
-