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Euro Pratik IPO
Euro Pratik Sales Ltd
₹14,100 /60 sharesMinimum Investment
Euro Pratik IPO Details
| Bidding Dates | Min. Investment | Lot Size | Price Range |
|---|---|---|---|
| 16 Sep ‘25 - 18 Sep ‘25 | ₹14,100 | 60 | ₹235 - ₹247 |
| Issue Size | IPO Doc |
|---|---|
| 451.32Cr | RHP PDF |
About Euro Pratik
Founded in
2010
Managing director
Mr Pratik Gunvantraj Singhvi
Parent organisation
Euro Pratik Sales Ltd
Strengths & Financials of Euro Pratik
Strengths
Risks
Euro Pratik Sales claims to be one of India’s largest organised decorative wall panel brands, holding a market share of 15.87 percent by revenue in the industry. This leadership position has been achieved through strategic acquisitions, such as Millennium Decor and Vougue Decor, which have expanded its product range and distribution network. The company’s focus on design innovation and its established presence in both residential and commercial markets further reinforce its competitive position.
Euro Pratik Sales claims to have a comprehensive product portfolio with over 30 product categories and more than 3,000 designs, catering to diverse architectural and design needs. This broad offering includes first-to-market products like Louvers, Chisel, and Auris, which have helped the company maintain an early mover advantage in the industry. The product range also spans decorative laminates, profiles, mouldings, translucent panels, and exterior claddings, with several products featuring eco-friendly, anti-bacterial, and moisture-resistant attributes.
The company claims to stay ahead of market trends through its strong merchandising capabilities and continuous focus on product novelty and design innovation. It introduces new products regularly, with over 113 product catalogues launched in the past four years. By analysing market feedback and leveraging insights from distributors, the company tailors its offerings to meet evolving consumer preferences.
Euro Pratik Sales claims to operate an asset-light business model, focusing on product design and development while outsourcing manufacturing to global contract partners. The company works with 36 contract manufacturers in countries such as South Korea, China, the United States, and Portugal, allowing flexibility in choosing manufacturing partners based on specific product designs and technological requirements. This model minimises capital investment in production facilities and equipment, enabling the company to allocate resources to areas like branding, innovation, and market expansion.
The company claims to have a strong pan-India presence with a well-established distribution network covering 180 distributors across 25 states and five Union Territories as of FY25.
The company has witnessed a consistent increase in profit after tax (PAT). It increased from Rs 59.56 crore (standalone) in FY23 to Rs 62.91 crore (consolidated) in FY24 and Rs 76.44 crore (consolidated) in FY25.
On April 26, 2025, a fire at the company’s largest warehouse in Bhiwandi, Maharashtra, led to the destruction of inventories worth Rs 33.59 crore, representing 34.92 percent of the company’s total inventory as of FY25. Any such accidents in the future could affect the company’s business and financial condition, especially if recoveries through insurance are delayed or insufficient.
Goods purchased in foreign currencies accounted for Rs 115.45 crore (54.81 percent) of the company’s total purchases in FY25, Rs 113.46 crore (92.22 percent) in FY24, and Rs 138.59 crore (81.17 percent) in FY23. Any adverse fluctuations in exchange rates, combined with the lack of hedging contracts, could negatively affect the company’s business, results of operations, and financial condition. While the company has managed such risks by adjusting product margins, future volatility in exchange rates may lead to unpredictable financial outcomes.
The top contract manufacturer (Shinil Frame Co. Limited) accounted for 24.03 percent, 70.56 percent, and 56.18 percent of the company’s total value of products purchased in FY25, FY24, and FY23, respectively. Any disruption in the operations of this manufacturer could lead to significant supply chain issues for the company.
The top five distributors accounted for Rs 73.64 crore (25.91 percent) of the company’s revenue in FY25, Rs 46.69 crore (21.06 percent) in FY24, and Rs 53.28 crore (20.21 percent) in FY23. This dependence exposes the company to risks of distributor concentration, as the loss or non-performance of these key distributors could disrupt operations and lead to revenue loss. Without formal agreements or exclusivity terms, the company may face operational delays and increased risk if these distributors choose competitors, reduce their business, or encounter financial difficulties.
The company reported negative cash flow from operating activities amounting to Rs 30.65 crore in FY25. This was primarily due to an increase in trade receivables, inventories, and other current assets, which resulted from recent acquisitions. If such negative cash flows persist in the future, they could adversely affect the company’s ability to operate effectively, harming its finances.
The company derives a significant portion of its revenue from the sale of its decorative wall panels. They accounted for Rs 187.96 crore (66.13 percent) of the company’s revenue in FY25, Rs 169.68 crore (76.54 percent) in FY24, and Rs 174.29 crore (66.12 percent) in FY23. Any decline in sales or profitability in this product category, due to factors like changing consumer preferences or industry trends, could adversely affect the company’s financial performance.
As of FY25, the company had trade receivables of Rs 95.83 crore, representing 33.72 percent of the company’s revenue. This is a sharp increase from Rs 44.36 crore (20.01 percent) in FY24, and Rs 60.49 crore (22.95 percent) in FY23. Any delays or non-receipt of payments from distributors could adversely affect the company's cash flows, leading to potential mismatches in working capital requirements, negatively impacting its finances.
The company, its subsidiaries, directors, promoters, key managerial personnel, and members of senior management are involved in certain ongoing legal proceedings, including criminal and tax-related cases. Any adverse judgments in any of these cases could be detrimental to the company’s business prospects.
Euro Pratik Financials
*All values are in Rs. Cr
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Application Details of Euro Pratik IPO
| Apply as | Price band | Apply upto |
|---|---|---|
| Regular | ₹235 - 247 | ₹2 Lakh |
| Employee | ₹222 - 234 | ₹2 Lakh |
| High Networth Individual | ₹235 - 247 | ₹2 - 5 Lakh |
For Euro Pratik IPO, eligible investors can apply as Regular & Employee.