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SK MINERALS & ADDITIVES LIMITED is a specialty chemicals company engaged in both manufacturing and trading, with a primary focus on food and feed additives. The company's product portfolio includes chelated minerals like Glycinates and EDTAs, Mineral Mixtures, Calcium Propionate, and Technical Grade Urea. Its products serve a diverse range of industries such as food and bakery, animal feed, plywood, and petroleum. Originally a proprietorship firm named M/s S.K. Minerals, the business was incorporated in 2022 and has since expanded its manufacturing capabilities, supported by a DSIR-certified in-house research and development unit.
Opening Date
Oct 10, 2025
Closing Date
Oct 14, 2025
Listing Date
Oct 17, 2025
IPO Type
SME
IPO Status
Closed
Issue Size
41.15 Cr
Fresh Issue
41.15 Cr
Offer for Sale
—
Price Band
₹120 - ₹127
Lot Size
1000
Our Company intends to utilize the Net Proceeds for the following objects:
To meet the working capital requirements of the Company, amounting to Rs. 3,100.00 lakhs, to support growing operational scale and manage receivables and inventory.
To fund the expansion plan of the Company by investing in capital expenditure towards the purchase of new plant and machinery, with an allocated amount of Rs. 555.40 lakhs.
To fund general corporate purposes, which may include strategic initiatives, brand-building activities, and other operational needs not covered by specific objects.
P/E Ratio
—
EPS
—
ROE
46.23%
ROCE
22.88%
RONW
46.23%
Debt to Equity Ratio
1.89
PAT Margin
5.17%
EBITDA Margin
9.02%
P/B
4.83
Significant and stable revenue stream with over 35% of revenue from government customers, enhancing business credibility.
Diversified customer base across multiple industries including feed, petroleum, food, and leather, reducing sector-specific risks.
Established pan-India presence, catering to diverse regional markets and strengthening supply chain efficiency.
Strong in-house, DSIR-certified R&D capabilities that drive product innovation and customer-centric formulations.
High dependence on trading activities, which constitute approximately 80% of revenue, leading to lower control over the value chain.
Business is working capital intensive, with a history of negative cash flows from operations due to high receivables and inventory.
Lack of ownership of key operational properties, including the registered office, manufacturing facility, and warehouses, posing operational risks.
Customer and supplier concentration, with a significant portion of revenue and purchases tied to a small number of entities.
Utilize IPO proceeds to expand manufacturing capacity, shifting the business model towards higher-margin production.
Leverage R&D capabilities to develop and commercialize new high-value products like flame retardants, Omega-3, and Vitamin D2.
Capitalize on the rapidly growing Indian food and feed additives market, which is projected for significant expansion by 2030.
Explore and expand into export markets, particularly in the Middle East, ASEAN, and Near Asia, for further growth.
Vulnerability to global supply chain disruptions and foreign exchange fluctuations due to heavy reliance on imported goods for trading.
Exposure to regulatory risks, including past non-compliance such as commencing manufacturing without a prior 'Consent to Establish'.
Intense competition within a highly fragmented market comprising over 3,000 players, which could pressure margins.
Potential conflicts of interest as some Group Entities are engaged in a similar line of business.