Drashti adds 10.69 lakh laminate sheets and spare capacity

Drashti Surfaces Private Limited sold 10.69 lakh laminate sheets in FY 2025-26, up 15% year on year, while its laminate facility operated at 75% utilisation and its veneer facility at 50%. Drashti adds owned manufacturing, decorative surface products and institutional customer relationships to Euro Pratik’s portfolio.

What manufacturing assets does Drashti bring to Euro Pratik?

Drashti brings a laminate plant in Silvassa, Dadra & Nagar Haveli, and a veneer facility in Bhilad, Gujarat. The Silvassa plant has installed capacity of 1,20,000 sheets a month on a 1.00 millimetre basis and was 75% utilised in FY 2025-26. The Bhilad operation has installed capacity of 7,500 veneer pieces a month and operated at 50% utilisation in FY 2025-26.

The Bhilad site is on a six-acre campus and has 1,80,000 square feet of balance Floor Space Index, or FSI. Euro Pratik identifies that FSI, 25% spare laminate capacity and 50% spare veneer capacity as expansion headroom. The acquisition adds owned manufacturing to Euro Pratik’s asset-light model, which the presentation says uses more than 45 contract manufacturers in India and overseas.

How has Drashti’s laminate business performed?

Drashti sold 10.69 lakh laminate sheets in FY 2025-26, a 15% year-on-year increase, according to the presentation. This is the disclosed annual operating-volume measure for the business and compares with 75% utilisation at the 1,20,000-sheet monthly Silvassa facility. The presentation does not provide laminate revenue, average selling prices, production volume, margins or the prior-year sheet-sales base.

The 75% laminate utilisation was higher than the 50% utilisation reported for veneers in FY 2025-26, leaving a larger proportional capacity gap in the veneer operation. This difference is relevant because Drashti sells both decorative laminates and veneers, but reports annual sales volume only for laminates. Management projects Rs 120 crore of Drashti revenue in FY 2027-28, without splitting that figure between laminates, veneers, domestic sales or exports.

What products and customer relationships does Drashti add?

Drashti adds decorative laminates in wood, marble, abstract, textile and solid-colour series for residential, hospitality and commercial interiors. Its Zero Series synchro laminates have texture synchronised with the printed grain to recreate the appearance and feel of natural wood. The portfolio also includes Release Paper laminates and matching edge bands across the Zero Series colour palette.

The veneer range includes natural, fumed, metallic, dyed and marquetry products. The dyed range is supported by a dyeing line imported from a European supplier, while marquetry comprises custom inlaid artwork panels. Drashti is described as among the first companies in India to launch Release Paper-based laminates and Synchronized Zero Series laminates, and it has Green Label product certification, although the presentation does not identify the certifying body or covered products.

Drashti lists hospitality customers including Taj, Oberoi Hotels & Resorts, Marriott Hotels & Resorts, Hyatt Hotels & Resorts and Hilton Hotels & Resorts. Its listed developer and construction relationships include Lodha, Godrej, Kalpataru, Shapoorji Pallonji, Piramal Realty and Larsen & Toubro, while corporate and landmark references include Reliance Industries Limited, Tata, Adani, Jio World Convention Centre Mumbai and Nita Mukesh Ambani Cultural Centre. The presentation does not disclose contract values, revenue concentration or repeat-order rates for these relationships.

How will Euro Pratik integrate Drashti’s capacity and channels?

Euro Pratik is acquiring 51% control of Drashti for Rs 31.12 crore from internal accruals and has committed up to Rs 20 crore in loans to Drashti. The transaction’s outer closure date is 90 days from execution of the Share Purchase or Subscription Agreement. Management describes the transaction as a shift from curating products to creating them through an owned manufacturing base for premium laminates and veneers.

Management says Drashti will gain access to Euro Pratik’s distribution and brand platform, while Euro Pratik will gain hospitality, developer and export relationships. The presentation lists Drashti exports to Singapore, Thailand, Malaysia, the United States, Europe, the United Arab Emirates, Turkey and South Africa. It also gives different distributor-network counts: the company overview cites 208 distributors across 195 cities, while transaction pages cite 205 distributors and 205 distributors across 148 cities; the supplied material does not reconcile these figures.

Drashti is the November 2026 step in Euro Pratik’s stated platform-building sequence, following 51% acquisitions of URO Veneer World in December 2025 and Chawla Brothers in April 2026. Drashti adds decorative laminates, veneers and marquetry to Euro Pratik’s existing categories of exterior claddings, profiles and mouldings, wall panels and louvers, interior films and adhesives, and acrylic and polyvinyl chloride surfaces.

Conclusion

Drashti provides Euro Pratik with operating assets as well as a broader surface-decor range: 10.69 lakh laminate sheets sold in FY 2025-26, 75% laminate utilisation, 50% veneer utilisation and 1,80,000 square feet of balance FSI. The transaction combines those assets with decorative laminates, specialist veneers, named institutional relationships and an export footprint across several regions.

The next disclosed milestone is closure within 90 days of execution of the relevant transaction agreement. After closure, the central disclosed measure to watch is management’s Rs 120 crore FY 2027-28 revenue projection, alongside use of the 25% spare laminate capacity, 50% spare veneer capacity, balance FSI and up to Rs 20 crore loan commitment for expansion.