AIK Pipes and Polymers Limited

Manufactures HDPE, MDPE and PPR pipes used in water supply, gas distribution, telecom ducting and agricultural irrigation, operating from Jaipur and selling primarily to government contractors and infrastructure projects in India. The company's main product lines are HDPE pipes manufactured to IS4984 standard, and it sells these directly to EPC contractors; in November 2025 it received an order of approximately Rs. 8.80 crores for HDPE pipe supply to the Isarda-Dausa water supply project (Package-4) through an AA-class contractor working under the Public Health Engineering Department (PHED), Government of Rajasthan. It also markets agri-irrigation products under a brand called 'BANAS'. Revenue from operations for FY2026 was Rs. 545.09 lakhs (down from Rs. 2,505.70 lakhs in FY2025), with profit after tax at Rs. 8.71 lakhs and EBITDA margin compressed to approximately 4.1% versus 9.4% the prior year. The biggest cost is raw materials at 93.4% of revenue, with employee costs at 12.2% and other operating expenses at 6.6% of revenue. The company is listed on the BSE SME Emerge platform and is small enough that several SEBI compliance obligations (Large Corporate disclosure, Regulation 24A secretarial compliance report) do not apply to it.