Clay Craft India Ltd.
CLAYSME
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Overview
Clay Craft India Limited is an Indian manufacturer and distributor of ceramic tableware, focused on designing, developing, producing and selling dinnerware, mugs, tea and coffee sets, platters, bowls, tumblers and tabletop accessories. The company operates two manufacturing facilities in Rajasthan with a combined installed capacity of about 6,000 MT per annum, serves retail, institutional and HoReCa customers, and markets products primarily under the Clay Craft and JCPL brands. Its product breadth of about 5,770 SKUs, in-house design and quality capabilities, multi-channel distribution network of around 132 distributors, and increasing presence across corporate, hospitality and modern retail channels support a broad domestic market reach.
Opening Date
Jun 17, 2026
Closing Date
Jun 19, 2026
Listing Date
Jun 24, 2026
IPO Type
SME
IPO Status
Open
Issue Size
110.11 Cr
Fresh Issue
105 Cr
Offer for Sale
0 Cr
Price Band
₹193 - ₹203
Lot Size
600
IPO Timeline
Financials
Revenue
Profit After Tax (PAT)
IPO Objective
The main objectives of the issue are to fund growth-oriented capital expenditure and support broader corporate requirements.
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To fund capital expenditure for setting up an additional manufacturing facility at Manda, Rajasthan, including construction of buildings and civil works, procurement and installation of imported and domestic plant and machinery, and related infrastructure needed for expanding ceramic tableware production.
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To increase the company’s installed manufacturing capacity by approximately 4,000 MT, enabling production of hard porcelain ceramic tableware that is currently not manufactured at its existing facilities and that is suited for export markets, fine dining, restaurants and hotels.
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To support project execution and related deployment needs for the new unit during FY 2026-27, including expansion of production space, advanced forming and glazing systems, warehousing and utilities that improve process precision, scale and product quality.
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To meet general corporate purposes such as strengthening business operations, funding working requirements linked to growth, supporting business development and marketing initiatives, and addressing operational contingencies, subject to applicable regulatory limits.
Key Performance Indicator
P/E Ratio
11.38
EPS
17.84
ROE
17.71%
ROCE
18.26%
RONW
16.27%
Debt to Equity Ratio
—
PAT Margin
15.02%
EBITDA Margin
23.33%
P/B
1.85
SWOT Analysis
Strengths
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Integrated manufacturing setup with two Rajasthan facilities and in-house design, printing and packaging capabilities supports quality control, scale and faster response to market demand.
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Diversified product portfolio of about 5,770 SKUs across dinnerware, mugs, tea and coffee sets, platters and accessories helps address retail, institutional and HoReCa demand segments.
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Established domestic distribution reach with around 132 distributors and multi-channel presence across distributors, modern retail, corporate sales and online platforms strengthens market access.
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Healthy financial track record with rising revenue, improving profitability and positive operating cash flows over the last three reported years supports future expansion plans.
Weaknesses
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Business remains heavily concentrated in the domestic market, while export revenue is currently very small relative to total sales, limiting geographic diversification.
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Operations are exposed to volatility in fuel, power and packaging costs, which can materially affect manufacturing economics in a ceramic production business.
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The company depends on external suppliers for key raw materials, including imported inputs, without long-term purchase agreements, creating procurement and pricing risks.
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Capacity expansion project execution involves timing, cost and implementation risks, including machinery procurement, civil construction and commissioning dependencies.
Opportunities
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The planned Manda expansion can raise installed capacity and enable entry into hard porcelain categories preferred in export markets and premium hospitality applications.
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Growing domestic hospitality, food service and premium dining trends can increase demand for higher-value ceramic tableware and hotel ware products.
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Global sourcing shifts away from China, anti-dumping measures in Europe and changes in Chinese export incentives may improve export opportunities for Indian ceramic producers.
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Brand-building, digital marketing and deeper penetration across modern retail, corporate gifting and HoReCa channels can help broaden customer acquisition and repeat business.
Threats
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Intense competition from domestic manufacturers, imports from countries such as China, Thailand, Vietnam and Turkey, and alternative materials like opal ware or melamine may pressure pricing and margins.
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Regulatory, environmental and compliance changes affecting manufacturing, imports, pollution control or the ceramic and HoReCa sectors may increase costs or constrain operations.
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Economic slowdowns, weak consumer demand, hospitality sector weakness or broader market volatility could reduce discretionary spending on tableware products.
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Pending customs-related litigation and classification disputes may result in financial exposure, management distraction and reputational risk if outcomes are adverse.
Subscription Rate
Frequently Asked Questions about Clay Craft India Ltd.
Clay Craft India Limited is an Indian manufacturer and distributor of ceramic tableware, focused on designing, developing, producing and selling dinnerware, mugs, tea and coffee sets, platters, bowls, tumblers and tabletop accessories. The company operates two manufacturing facilities in Rajasthan with a combined installed capacity of about 6,000 MT per annum, serves retail, institutional and HoReCa customers, and markets products primarily under the Clay Craft and JCPL brands. Its product breadth of about 5,770 SKUs, in-house design and quality capabilities, multi-channel distribution network of around 132 distributors, and increasing presence across corporate, hospitality and modern retail channels support a broad domestic market reach.
The Clay Craft India Ltd. IPO is scheduled to open for subscription on Jun 17, 2026 and close on Jun 19, 2026. Investors can apply for shares during this period through eligible platforms.
The price band for the Clay Craft India Ltd. IPO is ₹193 to ₹203. Investors can place bids within this range once the issue opens.
The minimum lot size for the Clay Craft India Ltd. IPO is 600 shares. The minimum investment amount ₹1,21,800.
The total issue size of the Clay Craft India Ltd. IPO is approximately ₹110.11. Issue size represents the total value of shares offered to the public.
As per the latest available information, the Clay Craft India Ltd. IPO has been subscribed 8.45 times. Subscription levels can change significantly during the offer period.
The Grey Market Premium (GMP) for the Clay Craft India Ltd. IPO is not available as of now. GMP reflects unofficial market sentiment and should not be considered a guarantee of listing performance.
The shares of Clay Craft India Ltd. are expected to list on stock exchanges on Jun 24, 2026, subject to completion of the allotment process and regulatory approvals.
The net proceeds from the Clay Craft India Ltd. IPO are proposed to be used for The main objectives of the issue are to fund growth-oriented capital expenditure and support broader corporate requirements., To fund capital expenditure for setting up an additional manufacturing facility at Manda, Rajasthan, including construction of buildings and civil works, procurement and installation of imported and domestic plant and machinery, and related infrastructure needed for expanding ceramic tableware production., To increase the company’s installed manufacturing capacity by approximately 4,000 MT, enabling production of hard porcelain ceramic tableware that is currently not manufactured at its existing facilities and that is suited for export markets, fine dining, restaurants and hotels., To support project execution and related deployment needs for the new unit during FY 2026-27, including expansion of production space, advanced forming and glazing systems, warehousing and utilities that improve process precision, scale and product quality., To meet general corporate purposes such as strengthening business operations, funding working requirements linked to growth, supporting business development and marketing initiatives, and addressing operational contingencies, subject to applicable regulatory limits.
Before applying for the Clay Craft India Ltd. IPO, investors generally review the company’s business model, financial performance, valuation, industry outlook, and risk factors mentioned in the offer document.
