Anubhav Plast Limited
Anubhav Plast Limited is a Kanpur-based SME manufacturer of ERW steel pipes, tubes, and swaged steel tubular poles, launching a ₹24 crore fresh issue on the BSE SME platform with a price band of ₹77–₹80 per share.
Overview
About the Company
Anubhav Plast Limited, founded in 1987 and headquartered in Kanpur, Uttar Pradesh, is engaged in manufacturing Electric Resistance Welding (ERW) steel pipes and tubes (round and square hollow sections) as well as swaged steel tubular poles under the 'ANUBHAV' brand. The company's products are widely used in electricity transmission and distribution, street lighting, telecom infrastructure, construction, irrigation, water supply, general engineering, and fabrication. Operations began with steel tubular pole manufacturing and later expanded via backward integration by installing in-house tube mills. The company runs two manufacturing units in Kanpur Dehat with an annual capacity of 90,000 MT for ERW pipes and 1,50,000 units for tubular poles, and serves both government and private sector customers across multiple Indian states. As of March 31, 2026, the company employed 35 people.
Company Details
📋 Objects of Issue (Use of Proceeds)
- › Setting up a new manufacturing facility within the existing premises for the production of crash barriers and solar panel structures, estimated at ₹2.20 crore.
- › Meeting working capital requirements of the company, estimated at ₹13.75 crore.
- › General corporate purposes.
✅ Strengths
- ✓ The company has more than three decades of experience in manufacturing steel tubular poles and ERW steel pipes and tubes, giving it a well-established operational track record.
- ✓ Its product range serves multiple sectors including electricity, telecom, construction, irrigation, water supply, and general engineering, reducing dependence on any single segment.
- ✓ With two manufacturing units offering 90,000 MT per annum of pipe capacity and 1,50,000 poles per annum, the company has significant installed production capability.
- ✓ In-house tube mills enable backward integration in manufacturing ERW steel pipes and tubes, supporting cost efficiencies and supply chain control.
- ✓ The company has cultivated long-standing relationships with State Electricity Boards and government customers through competitive tenders and e-marketplace platforms.
- ✓ Manufacturing facilities are strategically located, supporting operational efficiencies and project-based demand fulfilment across multiple Indian states.
- ✓ Product customisation capability along with a diversified, high-quality product portfolio enables the company to cater to varied customer requirements.
⚠️ Risks
- ! The company carries significant outstanding borrowings and is heavily reliant on working capital, which could strain liquidity and financial flexibility.
- ! A large share of revenues comes from government tender awards, making business continuity vulnerable to changes in tender allocation and government procurement policies.
- ! HR coils are a critical raw material, and any disruption in their supply or sharp price fluctuations could adversely impact production and profitability.
- ! Several regulatory approvals and applications remain pending with government authorities, which could delay operations or invite compliance risks.
- ! This is the company's first public issue, meaning there is no prior market for its shares, and post-listing trading liquidity remains uncertain.