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S. K. Offset Ltd IPO
S. K. Offset Ltd
₹2,38,000 /2000 sharesMinimum investment
IPO details
Minimum investment
₹2,38,000
Price range
₹119 - ₹125
Lot size
1,000
Issue size
29.06 Cr
Face value
10
IPO document
Subscription rate
Data will be available soon
Schedule
23 Sep 2026
IPO open date
25 Sep 2026
IPO close date
28 Sep 2026
Allotment date
28 Sep 2026
Funds unblock or debit
30 Sep 2026
Tentative listing date
About
Founded in
2007
MD/CEO
Mr Pradeep Agarwal
Parent organisation
S. K. Offset Ltd
S K Offset Financials
Revenue
Total Assets
Profit
All values are in ₹ Cr
Strengths & Risks
Strengths
Risks
The company has an in-house operational structure. S. K. Offset handles design, pre-press preparation, printing, finishing, packaging, and final delivery internally. This reduces its dependence on third-party vendors for these stages of production.
The company serves multiple industries. Its customer base spans publishing, FMCG, pharmaceuticals, packaging, and other commercial sectors. This gives the company exposure to different industry segments rather than relying on a single sector.
The company offers printing, packaging, and labelling products under one business. Its product portfolio includes books, mono cartons, master cartons, labels, and other packaging materials. It also provides related design and graphics services.
S. K. Offset operates mainly from four facilities in Meerut, Uttar Pradesh, with an aggregate covered area of approximately 38,313 square feet.
The company has expanded its operations into in-house packaging solutions. It has added machinery to undertake packaging-related work, including the design and printing of cartons, boxes, folding cartons, mono cartons, and customised packaging formats.
The company operates across manufacturing and trading activities. In addition to printing and packaging operations, it is involved in the trading, import, and export of printing and packaging materials, including paper, paperboard, foils, and ink.
The company has an integrated range of printing-related activities. Its operations cover printing, designing, graphics, lithography, and publication of general books, technical books, children’s books, textbooks, magazines, journals, and other printed materials.
The company has shown a consistent increase in revenue from operations and profit after tax. The revenue from operations increased from Rs 28.85 crore to Rs 55.77 crore and then to Rs 81.76 crore in FY24, FY25, and FY26, respectively. The profit after tax increased from Rs 0.72 crore to Rs 1.54 crore and then Rs 7.48 crore during the same period.
The top 10 customers contributed Rs 57.43 crore (86.14%), Rs 37.89 crore (78.61%), and Rs 17.56 crore (81.56%) to the company’s revenue from operations in FY26, FY25, and FY24, respectively. Loss of one or more key customers, reduction in orders, or a decline in demand from these customers could adversely affect the company’s revenue, cash flows, financial condition and results of operations.
The top 10 suppliers accounted for Rs 38.66 crore (65.59%), Rs 18.00 crore (55.47%), and Rs 15.99 crore (89.71%) of the company’s total purchases in FY26, FY25, and FY24, respectively. Any disruption, delay, or termination of relationships with these suppliers could increase procurement costs, affect raw material availability, and adversely impact the company’s operations and financial performance.
Raw material consumed accounted for Rs 40.74 crore (61.10%), Rs 33.81 crore (70.15%), and Rs 11.27 crore (52.33%) of the company’s revenue from operations in FY26, FY25, and FY24, respectively. Of raw material prices increase and they cannot be passed on to customers through higher selling prices, the company’s margins, cash flows, profitability and financial condition could be adversely affected.
The company derives a significant portion of its domestic revenue from Uttar Pradesh, which contributed Rs 46.29 crore (69.43%), Rs 43.37 crore (89.97%), and Rs 19.25 crore (89.41%) of revenue from operations in FY26, FY25, and FY24, respectively. Any adverse economic, political, regulatory, or other developments in Uttar Pradesh, including natural calamities, infrastructure constraints, or labour disruptions, could adversely affect the company’s business, financial condition and results of operations.
All four of the company’s manufacturing facilities are located in Uttar Pradesh, resulting in a concentration of its production operations in a single state. Any adverse developments in the state, including natural disasters, labour unrest, power or water shortages, infrastructure constraints, or disruptions to transportation and logistics, could interrupt manufacturing activities and adversely affect the company’s revenue, operations, and financial condition.
The company recorded negative cash flows from investing activities of Rs 8.07 crore in FY26, Rs 6.26 crore in FY25, and Rs 6.73 crore in FY24, while operating activities generated negative cash flow of Rs 10.80 crore in FY25. Despite higher profitability, negative net cash from operating activities in FY25 was mainly attributable to a substantial increase in trade receivables of Rs 23.60 crore, reflecting higher sales towards the end of the year and an extended collection cycle. This was partially offset by a reduction in inventory of Rs 1.36 crore and an increase in trade payables and other current liabilities of Rs 6.26 crore. Continued negative cash flows or insufficient cash generation could adversely affect the company’s ability to fund its operations, capital expenditure and debt obligations.
The company operates in a competitive printing and packaging market that includes domestic and multinational players with greater financial resources, technological capabilities, and established customer relationships. Any inability to keep pace with automation, digital printing, recyclable substrates, or the pricing and service levels offered by larger competitors could adversely affect the company’s market share, margins and results of operations.
As of March 31, 2026, the company had total outstanding borrowings of Rs 34.58 crore. Failure to service or repay these borrowings, including the Bank of India overdraft of Rs 14.98 crore that is repayable on demand, could adversely affect the company’s business, cash flows and financial condition.
As of March 31, 2026, the company had trade receivables of Rs 34.47 crore. Any delay or failure in collecting these receivables could adversely affect the company’s cash flows, working capital position and financial condition.
Application details
For S K Offset IPO, eligible investors can apply as Individual investor.
| Apply as | Price band | Apply range | Lot size |
|---|---|---|---|
| Individual investor | ₹119 - ₹125 | ₹2 - ₹5 Lakhs | 1000 |