Euro Pratik Sales Makes Modest Debut with 2.02% Premium, Opens at ₹273.45 Against Lukewarm Subscription

Euro Pratik Sales Limited, the decorative wall panels and laminates marketer, made a modest debut on BSE and NSE on September 23, 2025. After closing its IPO bidding between September 16-18, 2025, the company commenced trading with a 10.75% premium, opening at ₹273.45 and currently trading at ₹252 with gains of 2.02%.

Euro Pratik Sales Listing Details

Euro Pratik Sales Limited launched its offer for sale at ₹247 per share with a minimum investment of 60 shares costing ₹14,820. The IPO received a lukewarm response with a subscription of just 1.41 times - retail investors at 1.31 times, NII at moderate 2.02 times, and QIB at weak 1.10 times.

First-Day Trading Performance Outlook

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• Listing Price: Euro Pratik Sales share price opened at ₹273.45, representing a premium of 10.75% from the issue price of ₹247, but declined to ₹252 during trading, delivering modest gains of 2.02% for investors, reflecting cautious market sentiment.

Growth Drivers and Challenges

Growth Drivers:

• Market Leadership Position: One of India's largest organised wall panel brands with a comprehensive product portfolio offering over 30 categories and 3,000 designs serving both residential and commercial applications.
• Strong Financial Performance: Revenue grew 27% to ₹291.52 crore in FY25 with PAT rising 22% to ₹76.44 crore, demonstrating consistent business growth and operational efficiency in the decorative materials sector.
• Extensive Distribution Network: Asset-light business model with pan-India presence across 116 cities, covering metros to Tier-III cities through 180 distributors in 25 states and five union territories, plus international exports.

Challenges:

• Weak Market Reception: Poor subscription of 1.41 times and modest listing gains reflecting investor scepticism about valuation, growth prospects, and competitive positioning in the decorative materials sector.
• High Valuation Concerns: Elevated P/E of 33.02x and price-to-book value of 10.77x, indicating premium valuation multiples requiring sustained exceptional growth to justify investor expectations.
• Intense Competition: Operating in a highly competitive and fragmented decorative materials market with numerous organised and unorganised players affecting pricing power and market share retention.

Utilisation of IPO Proceeds

• Offer for Sale Structure: The IPO is entirely an offer for sale with no fresh capital raising, allowing selling shareholders to monetise their holdings while providing public market access and listing benefits.
• Listing Benefits: Achieve the advantages of stock exchange listing, including improved brand visibility, access to capital markets, and enhanced corporate governance standards for future growth initiatives.

• Financial Performance of Euro Pratik Sales

• Revenue: ₹291.52 crore for FY25, showing solid growth of 27% from ₹230.11 crore in FY24, reflecting successful distribution expansion and product portfolio diversification.
• Net Profit: ₹76.44 crore in FY25, representing steady growth of 22% from ₹62.91 crore in FY24, indicating consistent profitability and operational efficiency in decorative materials business.
• Financial Metrics: Outstanding ROE of 39.18%, impressive ROCE of 44.58%, minimal debt-to-equity ratio of 0.01, healthy PAT margin of 26.08%, robust EBITDA margin of 38.74%, and estimated market capitalisation of ₹2,575.44 crore.