Kheria Autocomp IPO

Incorporated in 2009, Kheria Autocomp operates from its manufacturing facility at Tata Vendor Park in Sanand, Gujarat. The company manufactures plastic components for both internal-combustion-engine and electric vehicles, including interior cabin trims, exterior plastic components, under-hood parts and HVAC ducts. It operates as a Tier-II supplier, producing components according to specifications provided by Tier-I suppliers. As of March 31, 2026, the company had approximately 113 employees and operated around 30 injection-moulding machines ranging from 120 tonnes to 1,700 tonnes. The company also has a 636 kW solar power system and groundwater-recharge infrastructure at its facility. Its business is exposed to customer concentration, dependence on the automotive industry, raw-material price fluctuations and the execution risks associated with expansion.

Kheria Autocomp is raising ₹46.44 Cr through a 100% fresh issue of 45,98,400 equity shares at a price band of ₹96 to ₹101 per share. The company intends to use ₹39.96 Cr of the net proceeds for part funding the capital expenditure required for a new manufacturing facility for plastic moulded auto components at GIDC Sanand Industrial Park, with the balance allocated to general corporate purposes. Revenue increased from ₹62.40 Cr in FY24 to ₹92.31 Cr in FY25 and ₹120.30 Cr in FY26, while PAT increased from ₹3.31 Cr to ₹8.24 Cr and ₹11.42 Cr. FY26 ROCE was 26.89%, RoNW was 33.72% and debt-to-equity was 0.89x. At the upper issue price of ₹101, the reported pre-IPO P/E is 9.95x and post-IPO P/E is 14.01x, with post-issue market capitalisation of approximately ₹160.07 Cr.