Kheria AutocompIPO Review — Financials, Valuation & Peers
A data-only look at the Kheria Autocomp IPO: restated financials, valuation ratios, the RHP peer group and third-party analyst views. ipostation does not rate IPOs — nothing here is a recommendation.
Financials (₹ Cr)
| Period Ended | Revenue | PAT | EBITDA | Net Worth | Total Assets | Borrowings | EPS (₹) |
|---|---|---|---|---|---|---|---|
| FY 2024 | 62.4 | 3.31 | 9.76 | 20 | 53.14 | 18.83 | — |
| FY 2025 | 92.31 | 8.24 | 16.18 | 28.24 | 81.79 | 30.9 | — |
| FY 2026 | 120.3 | 11.42 | 22.9 | 39.52 | 106.23 | 35.03 | 10.15 |
Restated figures from the offer document. Amounts in ₹ crore; EPS in ₹ per share. FY = the 12 months ended 31 March.
KPIs & Valuation
- P/E (pre-issue)
- 9.95x
- P/E (post-issue)
- 14.01x
- RoNW
- 33.72%
- RoE
- 33.72%
- RoCE
- 26.89%
- Debt / Equity
- 0.89
- EPS (pre-issue)
- ₹10.15
- EPS (post-issue)
- ₹7.21
- EBITDA Margin
- 19.08%
- PAT Margin
- 9.52%
- P/BV
- 4.02x
- NAV / share
- ₹35.13
- Market Cap
- ₹160.07 Cr
As of 31 Mar 2026 (latest reported period in the offer document). Market cap is computed on a post-issue basis at the upper price band.
Peer Comparison
| Company | EPS (₹) | NAV (₹) | P/E | RoNW | P/BV | Statements |
|---|---|---|---|---|---|---|
| Kheria Autocomp | 10.15 | 35.13 | — | 33.72% | — | Standalone |
| Machino Plastics | 2.16 | 163.18 | 104.31x | 1.32% | 1.38x | Consolidated |
| PPAP Automotive | 30.61 | 222.82 | 5.82x | 13.73% | 0.8x | Consolidated |
Peer group as disclosed in the offer document, figures as of 31 Mar 2025. The issuer’s P/E is computed at the upper price band.
Promoters & Shareholding
Promoters: <p>Tara Chand Kheria, Vinay Kheria, Sushma Kheria, Santosh Devi Kheria</p>
- Holding (pre-issue)
- 100%
- Holding (post-issue)
- 70.99%
- Dilution
- 29.01%
Analysis in brief
Margin and return profile
Away from the price multiples, the offer document also discloses the shape of the underlying business. Kheria Autocomp operates at an EBITDA margin of 19.08% and a net (PAT) margin of 9.52% — the share of revenue retained at the operating and the net level respectively. Capital efficiency reads at a return on capital employed (RoCE) of 26.89% and a return on equity (RoE) of 33.72%. At the upper band, the post-issue market capitalisation works out to about ₹160.07 crore. These are offer-document figures for the latest reported period (as of 31 Mar 2026); they describe the business as disclosed, not how the stock will trade.
Objects of the issue
Per the offer document, the company intends to deploy the net proceeds primarily toward part funding of capital expenditure for setting up of new manufacturing facility for plastic moulded auto components at gidc sanand industrial park (₹39.96 crore), alongside general corporate purposes.
Financials
In FY2026, Kheria Autocomp reported revenue of ₹120.3 crore and a net profit of ₹11.42 crore. Revenue grew from ₹62.4 crore in FY2024 to ₹120.3 crore in FY2026 (+93.0%). Net worth stood at ₹39.52 crore at the end of FY2026. At the upper band, that puts the issue at roughly 10.0× FY2026 earnings (P/E), a figure worth comparing against listed peers in the sector.
Valuation
At the upper band, the issue is priced at 14.01× post-issue earnings and 4.02× book value, against a return on net worth of 33.72% and a debt-to-equity ratio of 0.89. These ratios come from the offer document and are for comparison, not a recommendation.
Peer comparison
The offer document names listed peers including Machino Plastics and PPAP Automotive, with a median peer P/E of about 55.1×. The issue's own post-issue P/E works out to 14.01×.
Promoters
The promoters of the company are <p>Tara Chand Kheria, Vinay Kheria, Sushma Kheria, Santosh Devi Kheria</p>. Promoter holding stands at 100% before the issue and comes down to 70.99% after listing.
Frequently asked questions
- What is the reservation split in the Kheria Autocomp IPO?
- Of the total shares offered, retail investors get 35%, QIBs 20% (plus 30% anchor), non-institutional investors 15%.
- Who are the promoters of Kheria Autocomp and what is their holding?
- The promoters are <p>Tara Chand Kheria, Vinay Kheria, Sushma Kheria, Santosh Devi Kheria</p>. Promoter holding is 100% before the issue and 70.99% after listing.
- What is the P/E ratio of the Kheria Autocomp IPO?
- At the upper price band, the Kheria Autocomp IPO is valued at 9.95× pre-issue earnings and 14.01× post-issue earnings, based on the financials disclosed in the offer document.
- What are the objects of the Kheria Autocomp IPO?
- The net proceeds go primarily toward part funding of capital expenditure for setting up of new manufacturing facility for plastic moulded auto components at gidc sanand industrial park, among 2 disclosed objects.