Durlax Top Surface Ltd

Durlax Top IPO

Durlax Top Surface Ltd

₹80,000 /2000 sharesMinimum investment

IPO details

Minimum investment
₹80,000
Price range
₹40 - ₹40
Lot size
1,480
Issue size
40.80 Cr
Face value
10
IPO document

Subscription rate

Data will be available soon

Schedule

23 Feb 2026
IPO open date
5 Mar 2026
IPO close date
24 Jun 2024
Allotment date
24 Jun 2024
Funds unblock or debit
26 Jun 2024
Tentative listing date

About

Founded in 2010 as Durlax Archtech Pvt Ltd, later renamed Durlax Top Surface in 2017, the company specialises in manufacturing solid surface materials. These products are distributed throughout India via a network of distributors and direct customers. These are also exported to countries, including Dubai, Qatar, Greece, and Sri Lanka. The company operates under two brands, Luxor and Aspiron, each offering a range of solid surfaces. The Luxor brand provides Acrylic UV Solid Surfaces, while Aspiron offers Modified Solid Surfaces. Both brands feature designs with anti-bacterial properties and fire-retardant qualities. These solid surfaces are used in various sectors, such as residential, commercial, hospitality, healthcare, and exterior projects, for use in countertops, vanities, offices, retail spaces, hotels, hospitals, and outdoor installations.;
Founded in
2010
MD/CEO
Mr. Shravan Suthar
Parent organisation
Durlax Top Surface Ltd

Durlax Top Financials

Revenue
Total Assets
Profit
All values are in ₹ Cr
19.5447.3666.74202120222023

Strengths & Risks

Strengths
Risks
According to the company, its manufacturing facility at Vapi, Gujarat, is equipped with German and South Korean technologies and advanced machinery to produce solid surface materials.
The company holds ISO 9001:2015 and ISO 14001:2015 certifications for quality management systems.
For the year ending March 31, 2023, the company distributed its products across 21 states and 2 Union Territories in India to both distributors and direct customers.
The company has a presence in both the domestic and international markets. The latter include Dubai, Saudi Arabia, Qatar, Greece, the USA, Sri Lanka, Nepal, and Thailand. It sells a range of products of varying thicknesses (4 mm to 20 mm) and over 100 different shades and colours in these markets.
Durlax Top Surface relies heavily on a few customers for a significant portion of its revenue. The top 10 customers contributed 71.24% in FY 2023, 70.97% in FY 2022, and 55.85% in FY 2021. Any disruption or loss of these key customers could negatively affect the company.
Most of the company's operating income comes from the domestic market. Any adverse developments in this market could adversely impact the business. Domestic revenue accounted for 96.98% in 2023, 96.75% in 2022, and 98.37% in 2021.
The company, its promoters, and directors are involved in several legal proceedings. There are 19 cases against the company, with a total amount of Rs 18.47 crore involved.
As of September 25, 2023, Durlax Top Surface had total borrowings amounting to Rs 47.88 crore, which includes secured loans from banks and vehicle loans. These borrowings are under non-current liabilities, current maturities of long-term debts, and current liabilities. Any inability to service these debts could negatively affect the company.
Durlax Top Surface has contingent liabilities that could impact its financial health if they materialise. It has imported plants and machinery under the EPCG scheme, which requires it to export goods. Failure to meet this export obligation could result in a customs duty payment of Rs 5.74 crore. The company has also imported raw materials under the Advance Licenses Scheme and is obligated to export goods. It would be liable for customs duty of Rs 1.78 crore if it failed to meet this obligation.

Application details

For Durlax Top IPO, eligible investors can apply as Regular.

Apply asPrice bandApply rangeLot size
Regular₹65 - ₹68₹2 - ₹5 Lakhs2000
High Networth Individual₹65 - ₹68₹2 - ₹5 Lakhs2000

Frequently Asked Questions