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Biopol Chemicals IPO IPO
Biopol Chemicals Ltd
₹2,44,800 /1200 sharesMinimum Investment
Biopol Chemicals IPO IPO Details
| Bidding dates | Minimum investment | Lot size | Price range |
|---|---|---|---|
| 6 Feb ‘26 - 10 Feb ‘26 | ₹2,44,800 | 1,200 | ₹102 - ₹108 |
| Issue size | IPO doc | Tentative allotment date | Tentative listing date |
|---|---|---|---|
| 31.26 Cr | RHP PDF | 11 Feb ‘26 | 13 Feb ‘26 |
| Face value |
|---|
| 10 |
About Biopol Chemicals IPO
Founded in
2023
MD/CEO
Mr Santanu Sarkar
Parent organisation
Biopol Chemicals Ltd
Strengths & Risks of Biopol Chemicals IPO
Strengths
Risks
The company claims to have a confirmed order book of approximately Rs 13.31 crore as of January 16, 2026, based on purchase orders from domestic and international customers. It states that its typical execution cycle ranges from one to three months, depending on product type, order size, and customer requirements. The order book includes products across different categories and geographic regions, indicating a diversified customer base.
Biopol Chemicals claims to operate a manufacturing unit in Agarpara, West Bengal, with an installed capacity of 18,25,000 litres per annum. The facility is stated to be equipped with reactors, mixers, homogenisers, blenders, and other process equipment for producing speciality chemical products. It also claims to have a quality control laboratory and a functional team structure covering production, quality control, maintenance, procurement, packaging, and dispatch.
The company is ISO 9001:2015 certified for quality management systems, ISO 14001:2015 certified for environmental management systems, and ISO 45001:2018 certified for occupational health & safety management.
The company has witnessed a consistent increase in its revenue from operations and profit after tax (PAT). Revenue from operations increased from Rs 19.32 crore in FY23 to Rs 25.47 crore in FY24 and Rs 49.13 crore in FY25. PAT increased from Rs 0.52 crore in FY23 to Rs 2.96 crore in FY24 and Rs 4.33 crore in FY25.
The textile industry accounted for 62.71 percent, 84.60 percent, 78.43 percent and 74.81 percent of the company’s revenue for the period ended December 31, 2025; FY25; FY24 and FY23, respectively. The company’s specialty chemicals are used primarily in textile applications such as softeners, emulsions, hydrophilic finishes, hardeners, binders, and dyeing and printing auxiliaries. Any adverse developments in the textile industry, including changes in consumer demand, regulatory restrictions, trade policies, or raw material price volatility, could affect the company’s business, financial condition, results of operations, and cash flows.
West Bengal accounted for Rs 42.77 crore (87.56 percent) of the company’s revenue for the period ended December 31, 2025; Rs 30.07 crore (61.21 percent) in FY25; Rs 3.57 crore (14.04 percent) in FY24 and Rs 4.73 crore (24.49 percent) in FY23. Any adverse economic, political, regulatory, or trade-related developments in this region could affect the company’s business, financial condition, results of operations, and cash flows.
The top supplier accounted for Rs 25.92 crore (58.93 percent) of the company’s total purchases for the period ended December 31, 2025; Rs 18.12 crore (39.44 percent) in FY25; Rs 5.98 crore (23.46 percent) in FY24 and Rs 8.36 crore (59.44 percent) in FY23.Any disruption in supplies, changes in pricing, quality failures, or the loss of this key vendor could adversely affect the company’s production schedules, operational efficiency, costs, and margins.
Direct sales accounted for Rs 15.84 crore (32.42 percent) of the company’s total revenue for the period ended December 31, 2025; Rs 40.72 crore (84.28 percent) in FY25; Rs 21.09 crore (93.54 percent) in FY24 and Rs 15.23 crore (85.87 percent) in FY23. Any disruption in direct sales operations, including the inability to maintain customer relationships, meet delivery timelines, or respond to changing customer requirements, could adversely affect the company’s business, financial condition, results of operations, and cash flows.
The top customer accounted for Rs 17.82 crore (36.48 percent) of the company’s revenue for the period ended December 31, 2025; Rs 17.39 crore (35.40 percent) in FY25; Rs 3.59 crore (14.09 percent) in FY24 and Rs 2.05 crore (10.60 percent) in FY23. The company does not have long-term agreements with these customers for repeat business, which exposes it to the risk of revenue volatility. Failure to retain this key customer, or a reduction in business volumes, could adversely affect the company’s business, financial condition, results of operations, and cash flows.
Manufacturing activities accounted for Rs 32.86 crore (67.27 percent) of the company’s revenue for the period ended December 31, 2025; Rs 31.73 crore (64.60 percent) in FY25; Rs 14.89 crore (58.48 percent) in FY24 and Rs 14.99 crore (77.59 percent) in FY23. Any decline in demand for manufactured products, operational inefficiencies, supply chain disruptions, or regulatory changes affecting manufacturing operations could adversely affect the company’s business, financial condition, results of operations, and cash flows.
As of December 31, 2025, the company had trade receivables of Rs 24.70 crore, up from Rs 16.66 crore in FY25, Rs 10.13 crore in FY24 and Rs 7.01 crore in FY23. Failure to collect these receivables on time or at all can negatively impact the company’s business and finances.
The company reported negative cash flow from operating activities amounting to Rs 4.34 crore for the period ended December 31, 2025; Rs 2.34 crore in FY25 and Rs 8.87 crore in FY24. The company is not generating adequate cash to run its operations; investors should take note of this fact. Additionally, negative cash flow from investing activities amounted to Rs 1.28 crore for the period ended December 31, 2025; Rs 0.02 crore in FY25; Rs 0.07 crore in FY24 and Rs 0.49 crore in FY23. Continued inability to generate sufficient cash flows from operations may adversely affect the company’s ability to fund growth, meet capital expenditure requirements, service obligations, and sustain its business operations.
The company, its directors, promoters, KMPs and SMPs are involved in certain ongoing legal proceedings. The company’s business prospects could be hit in case of adverse judgments in any of these cases.
Biopol Chemicals has a limited operating history as a corporate entity, having been incorporated on April 12, 2023, even though its business activities trace back to 2005 through a sole proprietorship. This limited corporate track record may make it difficult to assess the company’s financial performance, results of operations, and future prospects.
As of December 31, 2025, the company had outstanding financial indebtedness of Rs 14.92 crore. Failure to service or repay these loans could harm the company’s operations and financial position.
Biopol Chemicals IPO Financials
*All values are in Rs. Cr
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Application Details of Biopol Chemicals IPO IPO
| Apply as | Price band | Apply Range | Lot size |
|---|---|---|---|
| Individual investor | ₹102 - 108 | ₹2 - 5 Lakh | 1200 |
For Biopol Chemicals IPO IPO, eligible investors can apply as Individual investor.