S.K.Offset IPO

SME • BSE SME • Fresh capital only

LISTEDSMEBSE SME

S.K.Offset

Price band

₹119 – ₹125

Lot size

1000 shares

Min investment

₹1,25,000

Issue size

₹29.06 Cr

About the company

S. K. Offset Limited was started in February 2007. It provides printing and packaging together as a single service. It began with offset printing and has since added labelling and packaging. Its printing work covers books, textbooks, brochures, catalogues, stationery, pamphlets, magazines, journals and general commercial printing. It also does designing, graphics, lithography and publication related work. Its offerings fall into three groups. Printing is the original business. Packaging covers mono cartons, master cartons, boxes and other packaging made to a customer's own requirement. Labelling covers stickers, product labels, barcodes and promotional material in different sizes and finishes. It also offers digital design services, preparing packaging artwork, layouts, colour formatting and print ready files. Because it has integrated forward across printing, packaging and labelling, a customer can buy all three from one supplier. Alongside this it trades, imports and exports printing and packaging materials such as paper, paperboard, foils and inks.

S. K. Offset Limited provides integrated printing, packaging and labelling services, covering books and commercial printing, mono and master cartons, stickers, product labels and barcodes. Running since 2007, it also trades and imports printing materials such as paper, paperboard, foils and inks.

IPO details

Issue price: ₹125
Price band: ₹119 – ₹125
Face value: ₹10
Lot size: 1000
Min investment: ₹1,25,000
Issue size: ₹29.06 Cr
Sale type: Fresh capital only
Listing on: BSE SME
BSE scrip code: 7984
NSE symbol: SKOFFSET.BO

Lot size & investment by category

APPLICATION	LOTS	SHARES	AMOUNT
Retail (Min)	1	1,000	₹1,25,000
Retail (Max)	1	1,000	₹1,25,000
HNI (Min)	2	2,000	₹2,50,000

Investor reservation

CATEGORY	RESERVED
QIB	9,00,000 shares (40.82% of the Offer)
NII	3,33,000 shares (15.10% of the Offer)
Retail	9,72,000 shares (44.08% of the Offer)

Objects of the issue

1To fund the Capital expenditure towards purchase of Plant and Machinery at Meerut2.11

2Funding incremental working capital requirements of the Company18.66

3General corporate purposes

Financials

Rs. Crore • restated

METRIC	31 Mar 2026	31 Mar 2025	31 Mar 2024
Assets	81.76	55.77	28.85
Total Income	67.00	48.65	23.31
Profit After Tax	7.48	1.54	0.72
EBITDA	14.18	5.62	1.16
NET Worth	19.78	7.20	4.58
Reserves and Surplus	14.36	5.95	3.58
Total Borrowing	34.58	32.35	14.70

Key performance indicators

P/E Ratio

12.94

EPS (₹)

9.66

RoE

37.82%

RoCE

22.91%

RoNW

37.82%

PAT Margin

11.22%

EBITDA Margin

21.27%

Debt / Equity

1.75

NAV (₹)

36.50

✓ Strengths

• Sales have almost tripled in two years, from Rs 23.31 crore in FY2024 to Rs 48.65 crore in FY2025 and Rs 67.00 crore in FY2026.

• Profit has grown enormously over the same period, from Rs 0.72 crore to Rs 7.48 crore.

• EBITDA improved from Rs 1.16 crore in FY2024 to Rs 5.62 crore in FY2025 and Rs 14.18 crore in FY2026.

• Return ratios are strong, with RoNW of 37.82% and RoCE of 22.91%, and a PAT margin of 11.22%.

• The issue is priced moderately at about 12.94 times earnings on an EPS of Rs 9.66.

• Offering printing, packaging and labelling together lets a customer source everything from one supplier, which makes the relationship harder to break.

• It has a long record of nearly 20 years, having started in February 2007.

• Most of the money goes into the business, with Rs 18.66 crore for working capital and Rs 2.11 crore for plant and machinery at Meerut.

⚠ Risks

• Debt is high. Total borrowing was Rs 34.58 crore against a net worth of only Rs 19.78 crore, a debt to equity ratio of 1.75, and it has more than doubled in two years from Rs 14.70 crore.

• The profit jump is very recent. Profit after tax went from Rs 1.54 crore to Rs 7.48 crore in a single year, and that scale of jump is hard to repeat.

• Printing is capital heavy. Presses are costly, need regular replacement and have to be kept running to pay for themselves.

• Paper and paperboard prices move sharply and are the main input cost.

• A part of the revenue comes from trading and importing paper, foils and inks, which earns less than the printing work itself.

• Textbook and educational printing is seasonal and often won through tenders, so both volume and price can swing.

• Promoter holding will come down from 100% to 69.97% after the issue.

• This is an SME issue. One lot is 1,000 shares, which is Rs 1.25 lakh at the upper band of Rs 125, and SME shares usually trade in low volume after listing.

Promoters & holding

Pradeep Agarwal, Priyanshu Agarwal and Ayush Agarwal

Pre-issue promoter holding

100%

Post-issue promoter holding

69.97%

Data refreshed 07 Nov 2026, 04:53 pm IST. GMP is unofficial market sentiment, not investment advice.