Alfa ICA (India) Ltd, established in **1991**, is a **Govt. Recognised Export House** and a premier manufacturer of **High Pressure Laminate (H.P.L) Sheets & Compacts**. Headquartered in Ahmedabad, Gujarat, the company has evolved into a globally recognized brand, providing high-quality, environmentally friendly decorative solutions to architects, interior designers, and fitters across international and domestic markets. --- ### **Core Product Portfolio & Technical Innovation** The company specializes in a diverse range of decorative surfaces that balance aesthetic appeal with functional durability. All products are manufactured in strict compliance with the **EN438 (European Standard)**. * **Design & Texture Variety:** The portfolio features over **600 design decors** and more than **50 textures**, allowing for extensive customization in interior and exterior design. * **Specialized Performance Laminates:** * **Hygiene & Maintenance:** Anti-bacterial, Anti-fungal, and Anti-fingerprint laminates. * **Safety:** Fire Retardant sheets. * **Educational & Office Surfaces:** Green chalk boards, White marker boards, and Dry wipe boards. * **Key Applications:** * **Residential:** Kitchen countertops, backsplashes, door coverings, and shower panels. * **Commercial:** Furniture tops, wall paneling, and office partitions. * **Structural:** Cubicle partition panels and exterior wall cladding. --- ### **Operational Infrastructure & Supply Chain** Alfa ICA operates an integrated manufacturing and administrative ecosystem in Gujarat, ensuring quality control from raw material sourcing to final distribution. * **Production Capacity:** The company currently produces over **0.6 crore sq. mts.** of laminates annually. * **Strategic Sourcing:** To maintain international quality benchmarks, decorative papers are sourced exclusively from premier **European printers**. * **Quality Certifications:** The company holds **ISO 9001-2015** (Quality Management) and **ISO 14001-2015** (Environmental Management) certifications. | Facility Type | Location | | :--- | :--- | | **Manufacturing Plant** | 204-205, Uma Industrial Estate, Sanand - Viramgam Highway, Ahmedabad | | **Registered Office** | 1-4, Uma Industrial Estate, Village Vasana-Iyawa, Sanand, Ahmedabad | | **Administrative Office** | Alfa-Palazzo, Satellite Road, Ahmedabad | --- ### **Financial Performance & Export Dominance** Alfa ICA operates as a **single-segment entity** focused on Laminated Sheets. The company’s financial health is characterized by consistent revenue growth and a heavy reliance on international trade. **Three-Year Financial Summary:** | Metric (₹ in Crore) | FY 2024-25 | FY 2023-24 | FY 2022-23 | | :--- | :---: | :---: | :---: | | **Total Revenue** | **79.43** | **69.32** | **65.19** | | **Profit After Tax (PAT)** | **1.44** | **1.68** | **1.46** | | **Export Sales** | **59.59** | **51.61** | **47.07** | | **Export % of Total Sales** | **75.86%** | **75.35%** | **72.20%** | **Capital Structure & Liquidity:** * **Equity Base:** Paid-up Equity Share Capital has remained stable at **₹4.04 Crore**. * **Debt Profile:** Long-term borrowings stood at **₹7.02 Crore** in FY25, reflecting a strategic increase from **₹5.66 Crore** in FY24 to support operational needs. * **Dividend Policy:** No dividends were recommended for the last three fiscal years, as the company prioritizes internal accruals for **capacity expansion** and **strategic acquisitions**. * **Asset Valuation:** No **impairment losses** have been recognized under **Ind AS-36**, indicating healthy asset integrity. --- ### **Strategic Growth Drivers & Market Outlook** The company’s strategy is bifurcated between aggressive international expansion and capitalizing on domestic industrial tailwinds. * **Export-Led Growth:** With over **75% of revenue** derived from exports, the company’s growth is intrinsically linked to **overseas economic recovery**. Management is actively exploring new international territories to diversify its geographic footprint. * **Domestic Infrastructure:** Long-term stability in the Indian market is anticipated due to the government’s focus on **infrastructure and housing**, which drives demand for decorative and structural laminates. * **Operational Efficiency:** Management is currently focused on **cost control** and production efficiency to offset **inflationary pressures** that may impact consumer spending. --- ### **Leadership & Governance Transitions** The company has recently undergone a leadership transition to steer its 2024–2029 growth phase. * **Executive Leadership (Effective Aug 23, 2025):** * **Mr. Rishi Tikmani:** Managing Director (formerly Whole-time Director). * **Ms. Pooja Tikmani:** Women Joint Managing Director. * **Board Oversight:** * **Mr. Shyamal Raval:** Chairman & Non-executive Director (Tenure: Aug 2024 – Aug 2029). * **Ms. Poonam Panchal:** Non-Executive Independent Director (Tenure: Aug 2024 – Aug 2029). * **Financial Governance:** Managed by CFO **Mr. Hansraj Sekhani** with statutory auditing conducted by **O.P. Bhandari & Co.** --- ### **Risk Management & Mitigation Framework** Alfa ICA employs a systematic risk management mechanism monitored by the Audit Committee and the Board. **Financial & Market Risks:** * **Currency & Interest Risk:** The company manages exposure to **USD, GBP, SGD, and EURO**. Interest rate risk is monitored against fluctuations in base lending rates for both fixed and floating debt. * **Credit Risk:** Overseas shipments are primarily secured by **Letters of Credit**. * **Specific Credit Exposure:** In **December 2024**, the company identified a credit risk of **₹2.67 Crore** involving a UK customer in administration; recovery proceedings are currently underway. **Legal & Regulatory Standing:** * **SEBI Resolution:** A historical penalty of **₹10.25 Lakh** regarding SEBI (SAST) Regulations was successfully quashed by the **Securities Appellate Tribunal (SAT)** in July 2023, resulting in a full refund to the company. * **Compliance:** The company has addressed a notice from the **Registrar of Companies (ROC)** regarding the **MGT-7** annual return and is awaiting a final response. * **Internal Controls:** A dedicated **Internal Audit Department** ensures the protection of assets and compliance with evolving statutory requirements.