Roopa Screen IPO

Status: Preopen
RHP:
BSE SME

₹ 240,000 / 4000 shares
Minimum Investment

Roopa Screen IPO Details

Open Date
24 Sep 2026
Close Date
28 Sep 2026
IPO Price Range
₹ 60 to ₹64
IPO Size
₹ 19.20 Cr

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Roopa Screen IPO Timeline

Bidding starts
24 Sep 2026
Bidding ends
28 Sep 2026
Allotment finalisation
29 Sep 2026
Refund initiation
30 Sep 2026
Demat transfer
30 Sep 2026
Listing
01 Oct 2026

About Roopa Screen

Last Updated: 23 September 2026 5:42 AM by 5paisa

Roopa Screen Limited manufactures rotary nickel screens used in rotary screen-printing machines, primarily by textile manufacturers for continuous fabric printing. These cylindrical, perforated metal screens function as stencils through which printing paste is transferred onto fabric. The screens are manufactured in different mesh counts, thicknesses and repeat sizes to meet requirements ranging from fine detailing to heavier paste flow and background printing.

Its product portfolio includes Standard, Delta, Penta and Nova rotary nickel screens. The company also trades in nickel cathodes, a key raw material used in manufacturing nickel screens. In FY26, Roopa Screen served 210 customers and generated most of its revenue from domestic markets including Gujarat, Maharashtra, Haryana, Punjab and Tamil Nadu. Manufacturing is currently carried out at its facility at Gallops Industrial Park-II, Sanand, Ahmedabad, supported by in-house testing and quality-control infrastructure. The company also operates a godown in Surat and a sales depot in Panipat.

Established in: 2013

Chairman and Managing Director: Ghanshyambhai Ranchhodbhai Thakkar

Peers:

Stovec Industries Limited

Roopa Screen Objectives

The Net Proceeds from the fresh issue are proposed to be used for:

1. Funding capital expenditure towards setting up a new manufacturing facility.

2. Funding working capital requirements.

3. General corporate purposes.

Roopa Screen IPO Size

Types	Size
Total IPO Size	₹19.20 Cr
Offer For Sale	-
Fresh Issue	₹19.20 Cr

Roopa Screen IPO Lot Size

Application	Lots	Shares	Amount (₹)
Retail (Min)	2	4000	₹240000
Retail (Max)	2	4000	₹256000
S-HNI (Min)	3	6000	₹360000
S-HNI (Max)	7	14000	₹896000
B-HNI (Min)	8	16000	₹960000

Roopa Screen Financial Status

Balance Sheet

Total Liabilities
Share Capital
Total Assets

Particulars (In ₹ Crores)	FY24	FY25	FY26
Revenue	35.71	45.34	50.73
EBITDA	4.24	8.13	10.00
PAT	1.50	4.69	6.48

Particulars (In ₹ Crores)	FY24	FY25	FY26
Total Assets	19.66	22.47	30.00
Share Capital	1.15	1.15	8.07
Total Liabilities	19.66	22.47	30.00

Particulars (In ₹Crores.)	FY24	FY25	FY26
Net Cash Generated From / (used in) Operating Activities	5.86	3.81	2.85
Net Cash Generated From / (used in) Investing Activities	(2.93)	(1.01)	(2.58)
Net Cash Generated From / (used in) Financing Activities	(2.99)	(2.86)	(0.34)
Net Increase (Decrease) in Cash and Cash Equivalents	(0.05)	(2.86)	(0.07)

Roopa Screen IPO SWOT Analysis

Strengths

1. Roopa Screen operates an in-house rotary nickel screen manufacturing facility with integrated testing and quality-control capabilities.

2. The company supplied products to 210 customers in FY26 and had a presence across multiple textile-producing states in India.

3. Existing manufacturing capacity utilisation increased to 96.51% in FY26 from 80.93% in FY25.

4. Revenue, EBITDA and PAT increased between FY24 and FY26, alongside expansion in EBITDA and PAT margins.

5. Its Standard, Delta, Penta and Nova product variants cater to different textile-printing requirements, from general printing to fine detailing and heavy paste applications.

Weaknesses

1. Raw-material sourcing is highly concentrated. The top 10 suppliers accounted for 96.73% of FY26 purchases, while the largest supplier alone represented 56.35%.

2. Gujarat accounted for 58.93% of FY26 revenue from operations, resulting in a meaningful level of geographic concentration.

3. The company does not have long-term or exclusive arrangements with its key raw-material vendors, exposing it to supply and pricing risks.

4. Its manufacturing facility, godown, sales depot and registered office are operated from leased or rented premises; the manufacturing facility is owned by promoters/directors and leased to the company.

5. The top 10 customers accounted for 34.53% of FY26 revenue, leaving a portion of revenue dependent on a relatively concentrated customer group.

Opportunities

1. The proposed manufacturing expansion is expected to increase capacity from 74,400 to approximately 1,63,200 rotary nickel screens annually.

2. The company intends to introduce 1,018 mm diameter rotary nickel screens for larger-format and higher-end printing applications.

3. The Indian rotary nickel screen market is projected in the RHP's industry report to grow at a CAGR of 10.8% by volume and 12.6% by value over the 2020–2030 period.

4. Expansion in textile production, home textiles, technical textiles and automated printing can support demand for high-precision screen-printing consumables.

5. Roopa Screen plans to deepen its presence in existing markets while expanding into additional geographies.

Threats

1. Nickel is a key raw material, making production costs sensitive to international nickel prices and supply conditions.

2. Digital and hybrid textile-printing technologies could alter demand patterns for conventional rotary screen-printing consumables.

3. The industry includes organised and unorganised competitors, some with broader product portfolios, greater capacity and larger financial and distribution resources.

4. Disruptions at the company's manufacturing facility could affect production and timely delivery to customers.

5. Regulatory non-compliance, delays in obtaining approvals for manufacturing facilities or changes in environmental and labour requirements could increase costs or disrupt operations.

Why Invest in Roopa Screen IPO?

1. Revenue from operations increased from ₹35.71 crore in FY24 to ₹50.73 crore in FY26, while PAT rose from ₹1.50 crore to ₹6.48 crore.

2. EBITDA margin expanded from 11.87% in FY24 to 19.72% in FY26.

3. Existing manufacturing capacity utilisation reached 96.51% in FY26, and IPO proceeds are proposed to fund a substantial capacity expansion.

4. The proposed new facility could increase annual rotary nickel screen capacity from 74,400 to approximately 1,63,200 units.

5. Roopa Screen operates in a specialised textile-printing consumables segment for which the industry report projects double-digit volume and value growth through 2030.

Roopa Screen Industry Landscape and Growth Potential

The Indian rotary nickel screen industry is closely linked to textile manufacturing and printing volumes. The industry report included in the RHP projects the domestic rotary nickel screen market to expand at a CAGR of 10.8% by volume and 12.6% by value between 2020 and 2030. Growth drivers identified include expanding textile and apparel production, rising demand for higher-quality printed fabrics, adoption of automated printing technologies, home-textile demand and increased use of rotary screens in specialised areas such as technical textiles.

Roopa Screen operates within this market as a manufacturer of a recurring textile-printing consumable. Its existing Sanand facility had an installed capacity of 74,400 screens annually and operated at 96.51% capacity utilisation in FY26. The planned additional facility is expected to add 88,800 screens of annual capacity, taking approximate combined capacity to 1,63,200 screens. The expansion also provides scope to manufacture larger-diameter screens and broaden the company's product offering. However, growth remains linked to textile-sector demand, nickel-price movements, competition and successful execution of the proposed capacity expansion.