• IPO structure: The company is raising ₹139 crore through a 100% Offer for Sale (OFS) priced at ₹42 to ₹45 per share, implying a market capitalization of ₹553 crore.
• Capacity and capex: Capacity utilization across four plants stands below 35% after investing approximately ₹30 crore over four years, leaving sufficient growth headroom with no major capex needed for the next 2 to 3 years.
• Operating margin growth: Operating profit margins increased from 6.2% in FY23 to roughly 14% for the nine months ended FY26, driven by a higher share of branded nutrition products and operating leverage.
• Revenue and product mix: Exports account for 55% of total revenue, while branded nutrition—led predominantly by the flagship Pentasure portfolio—contributes about 30% of overall sales.