Unitec Fibres IPO
Unitec Fibres IPO is an SME IPO raising ₹34 Cr at ₹83 – ₹88 a share. It listed on 30 Sept 2026 at ₹90, +2.3% against its issue price of ₹88, and trades at ₹91 today (+2.8% since issue). It was subscribed 3.72× in total.
3.7 times more demand than shares on offer
populated partly populated we hold nothing here — the tab says why
What this company actually does
Read out of the prospectus’s business section, stripped of its marketing language.
Unitec Fibres Limited manufactures Recycled Polyester Staple Fibre (RPSF) at two plants in MIDC Tarapur, Maharashtra (combined 27,984 MTPA capacity). The company takes PET flakes, polyester waste, PET chips and used PET bottles and converts them into staple fibre of varying deniers (0.9D–20D), solid and hollow forms, white and dope-dyed. End-use markets are home furnishings (sofa, curtains, carpets), automobiles (carpet, roof liners, trunks), non-wovens and spinning mills. A third plant (Unit 3) is being set up on ~47,494 sq m of land acquired in Valsad, Gujarat.
How it earns
Sells RPSF to institutional buyers (99.15% of FY26 revenue), primarily in domestic markets (89.98%), with smaller exports (9.16%). Also earns ancillary income from EPR credits, duty drawback, RoDTEP and scrap sales.
Who buys
Customer names not disclosed. Institutional buyers account for 99.15% of FY26 revenue. Customer concentration: Top 1 = 11.84% (~₹26.56 crore), Top 5 = 32.40% (~₹72.66 crore), Top 10 = 45.94% (~₹103.02 crore) of FY26 revenue. FY26 had 139 customers (99 repeat, 40 new); repeat customers drove 91.31% of revenue. Largest customer stood at ₹2,656.04 lakhs (~₹26.56 crore) in FY26. Order book as of Sept 10, 2026: ₹1,902.86 lakhs (~₹19.03 crore).
Scale
2 operational RPSF manufacturing units in MIDC Tarapur (Thane, Maharashtra) with combined installed capacity of 27,984 MTPA; third unit being set up in Valsad, Gujarat on ~47,494 sq m acquired for ₹2,152.26 lakhs. FY26 revenue from operations ₹22,424.48 lakhs (~₹224.24 crore); 171 permanent employees + 116 contractual workers as of March 31, 2026.
What it says sets it apart
- Combined installed RPSF capacity of 27,984 MTPA across two Tarapur units (Unit 1: 12,198 MTPA; Unit 2: 15,785.66 MTPA), with capacity utilization of 90.85% (FY26), 90.98% (FY25) and 92.32% (FY24).
- In-house processing capability for textile PET waste (cleaning, shredding, melting, extrusion into RPSF) in addition to use of procured PET flakes.
- Multiple sustainability/quality certifications: ISO 9001:2015, ISO 14001:2015, Oeko-Tex Standard 100 (Hohenstein, Germany), and Global Recycled Standard (GRS) Version 4.0 from Taiwan IDFL.
- EPR credit revenue stream under India's Plastic Waste Management Rules: ₹120.23 lakhs (FY26), ₹224.72 lakhs (FY25), ₹299.92 lakhs (FY24).
- Confirmed order book of ₹1,902.86 lakhs as of Sept 10, 2026 across non-woven, home furnishing, automobile and industrial applications, including export markets.
Revenue mix
The prospectus gives overlapping breakdowns here, so the shares are not shown.
The numbers at a glance
The price they’re asking →derived: cut-off price Rs88 / stated EPS Rs7.23 (FY26 (year ended March 31, 2026) Basic & Diluted EPS, restated post-bonus). Stated figures are as printed in the prospectus; margins, growth and the borrowing ratio are computed from its own summary table. A multiple is one lens, not a verdict.
The last few years in numbers
From the prospectus’s own summary financial table (restated standalone). Margins and growth are computed from the stated figures; everything else is as printed.
| Period | Revenue | Profit after tax | PAT margin | Net worth | Borrowings |
|---|---|---|---|---|---|
| FY 2025-26 | ₹224 Cr | ₹8 Cr | 3.4% | ₹65 Cr | ₹77 Cr |
| FY 2024-25 | ₹226 Cr | ₹8 Cr | 3.6% | ₹57 Cr | ₹37 Cr |
| FY 2023-24 | ₹204 Cr | ₹7 Cr | 3.6% | ₹49 Cr | ₹16 Cr |
Where the money goes
The offer →Most of this issue is new shares — the money raised goes to the company, not to exiting shareholders.
How its cohort has done
185 SME issues listed in 2026 that we can price today. This is the group this issue belongs to.
Neither figure is a forecast for this issue — they describe what happened to comparable issues. Full cohort analytics →
How the book finished
The category split is the number worth reading, not the total.
Demand is spread fairly evenly across investor categories.
What we hold for this issue
Stated up front on every issue, so a sparse page reads as a fact about the source rather than a broken one.
What happens when
Next: the UPI mandate expires on 6 Nov 2026.
What to watch
- Priced at 12.2× earnings — 77% below the median of the peers the issuer itself names.
- Its cohort's record: median −2.7% since issue price, 51.9% now below it — a base rate, not a forecast.
Each line restates a disclosure from the prospectus or the exchanges — nothing here is a recommendation to apply to this issue.
Track UNITEC FIBRES LIMITED
Results, orders, board decisions and every other filing — summarised and sent to your WhatsApp the minute they are out.
Figures are as published by the exchanges and the issuer’s prospectus. MarketPing publishes facts, comparisons and history only — nothing here is a recommendation to apply to this issue, and we do not publish grey market premium.