Roopa Screen IPO

SME • BSE SME • Fresh capital only

LISTEDSMEBSE SME

Roopa Screen

Price band

₹60 – ₹64

Lot size

2000 shares

Min investment

₹1,28,000

Issue size

₹19.2 Cr

About the company

Roopa Screen Ltd was started in 2013. It manufactures rotary nickel screens, which are used in rotary screen-printing machines by textile makers to print continuous lengths of fabric. A rotary nickel screen is a cylindrical perforated metal sleeve that works as a stencil. Printing paste is pushed through the holes onto the fabric passing underneath, and the pattern of holes decides the design. Because the screen rotates continuously, the fabric can be printed without stopping, which is what makes high volume textile printing possible. Its screens are sold under four product lines, Delta, Penta, Standard and Nova. Alongside manufacturing it also trades nickel cathodes, which are the raw material from which the screens are made. It does this to keep that critical material available and to buy it more efficiently. In FY2026 it supplied rotary nickel screens to more than 200 customers across India, with most of its revenue coming from Gujarat, Maharashtra, Haryana, Punjab and Tamil Nadu. It sells only business to business, to textile printing units, through its own in-house sales team.

Roopa Screen Ltd manufactures rotary nickel screens used in rotary screen-printing machines by textile printers for continuous fabric printing, sold under its Delta, Penta, Standard and Nova lines. It supplied over 200 customers in FY2026 and also trades nickel cathodes, the key raw material.

IPO details

Issue price: ₹64
Price band: ₹60 – ₹64
Face value: ₹10
Lot size: 2000
Min investment: ₹1,28,000
Issue size: ₹19.2 Cr
Sale type: Fresh capital only
Listing on: BSE SME
BSE scrip code: 7997
NSE symbol: ROOPA.BO

Lot size & investment by category

APPLICATION	LOTS	SHARES	AMOUNT
Retail (Min)	1	2,000	₹1,28,000
Retail (Max)	1	2,000	₹1,28,000
HNI (Min)	2	4,000	₹2,56,000

Investor reservation

CATEGORY	RESERVED
QIB	13,90,000 shares (49.82% of the Offer)
NII	4,20,000 shares (15.05% of the Offer)
Retail	9,80,000 shares (35.13% of the Offer)

Objects of the issue

1Funding of capital expenditure towards setup of a new manufacturing facility9.90

2Funding of Working Capital Requirements6.00

3General Corporate Purposes

Financials

Rs. Crore • restated

METRIC	31 Mar 2026	31 Mar 2025	31 Mar 2024
Assets	30.00	22.47	19.66
Total Income	51.32	45.63	35.85
Profit After Tax	6.48	4.69	1.50
EBITDA	10.00	8.13	4.24
NET Worth	16.37	9.89	5.21
Reserves and Surplus	8.31	8.74	4.05
Total Borrowing		7.03	8.98

Key performance indicators

P/E Ratio

10.92

EPS (₹)

5.86

RoE

49.37%

RoCE

39.33%

RoNW

39.60%

PAT Margin

12.78%

EBITDA Margin

19.72%

Debt / Equity

0.45

NAV (₹)

20.30

✓ Strengths

• Profit has more than quadrupled in two years, from Rs 1.50 crore in FY2024 to Rs 4.69 crore in FY2025 and Rs 6.48 crore in FY2026.

• Sales have grown from Rs 35.85 crore in FY2024 to Rs 51.32 crore in FY2026.

• EBITDA has more than doubled over the same period, from Rs 4.24 crore to Rs 10.00 crore.

• The margin is good for a component maker, with a PAT margin of 12.78% and an EBITDA margin of 19.72%.

• Return ratios are strong, with RoCE of 39.33% and RoNW of 39.60%.

• This is among the cheapest issues in the batch on earnings, at about 10.92 times on an EPS of Rs 5.86.

• It has cleared most of its debt, with borrowing down from Rs 8.98 crore in FY2024 against a net worth of Rs 16.37 crore.

• It supplied more than 200 customers in FY2026, so the business is not concentrated on a handful of buyers.

⚠ Risks

• The entire business depends on textile printing. If printers move to digital printing, which does not use rotary screens, the demand for this product would fall away with no other market to serve.

• A part of the revenue comes from trading nickel cathodes rather than manufacturing, which earns a lower margin.

• Nickel prices move sharply on global markets and affect both the trading business and the cost of making screens.

• Revenue is concentrated in a few states, chiefly Gujarat, Maharashtra, Haryana, Punjab and Tamil Nadu.

• The company is small, with a net worth of Rs 16.37 crore and an issue of Rs 19.2 crore.

• Rs 9.90 crore of the issue goes into setting up a new manufacturing facility, which carries execution risk and will take time to earn.

• Promoter holding will come down from 87.4% to 63.71% after the issue.

• This is an SME issue. One lot is 2,000 shares, which is Rs 1.28 lakh at the upper band of Rs 64, and SME shares usually trade in low volume after listing.

Promoters & holding

Ghanshyambhai Ranchhodbhai Thakkar, Kunal Ghanshyambhai Thakker, Bhartiben Ghanshyambhai Thakkar and Preksha Kunal Thakkar

Pre-issue promoter holding

87.4%

Post-issue promoter holding

63.71%

Promoters hold 87.4% before the issue and will hold 63.71% after it.

Data refreshed 07 Nov 2026, 04:52 pm IST. GMP is unofficial market sentiment, not investment advice.