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NSE: OMGLISIN INE2D0Q01027

Om Galaxy Limited

Engineering - Industrial EquipmentsStatement-builtModerate risk
₹89.85
day change after the next price update
Analyst view from the market data feed
0% bullish
0 analystsmean rating 0.00
Price
₹89.85
Mkt cap
₹299 cr
P/E (TTM)
11.7xexcl. exceptional items
P/B
2.40x
Book value
₹36.1
D/E
0.47
Market today: Funded rallyBhav 58 · Dhan 70 · 6 NovBhav Dhan Index →
Consolidatedgroup figures, as filed

What's newsince the last filing we processed

Announcement 22 Sep Open

Read from the offer document

This company listed within the last twelve months, so its prospectus is still the primary source. The figures below were extracted from the DRHP and RHP before listing and scored then, and they are shown here as they stand in the IPO record rather than restated.

74/100 80% coverage
₹90.00 SME platform
₹105 cr
+0.2%
low score 28

What the score is made of

Score components
Issue structure82
Financial quality78
Valuation vs peers55
Governance forensics67

Flagged in the offer document

Each flag is a fact read in the filing, shown with the context that makes it meaningful.

  • Pre-IPO Bonus Issue Expanding Share Count 5-Fold and Lowering Promoter WACA flagged
  • CARO Disclosures on Quarterly Stock Statement Discrepancies with Bank Submissions flagged
  • SME Route Chosen Despite Mainboard-Scale Revenue and Profit Track Record noted
  • Job Work Sourcing from Promoter-Owned Entity OM Enterprises noted
  • Absence of Comparable Listed Peers in DRHP Valuation Section noted

What the issue was raised for

Stated objects, as worded in the offer document. Deployment against them is tracked separately.

  • Source: p.105, 106 · Purpose: Capital Expenditure towards setting up a New Manufacturing Unit for consolidation of existing manufacturing units and expansion of production capacities at Poman, Vasai · Amount cr: 74.6636
  • Source: p.105, 106 · Purpose: Pre-payment/ re-payment, in full or in part, of certain outstanding borrowings availed by our Company · Amount cr: 14
  • Source: p.105, 106 · Purpose: General Corporate Purposes

What the company said

Claims made in the offer document, to be read against what the company has reported since.

  • Setting up a consolidated manufacturing facility at Poman, Vasai for Rs. 74.66 crore will optimize operational efficiency and expand production capacities.
  • Repaying Rs. 14.00 crore of bank borrowings will reduce finance costs and lower total leverage.
  • In-house design, tooling, and Hot Runner Systems integration provide a distinct competitive advantage over pure-play mould makers.

Lock-in

  • Period: 3 years · Shares: 6779000 · Source: p.98, 99 · Category: promoter
  • Period: 2 years · Shares: 7715900 · Source: p.99, 100 · Category: promoter
  • Period: 1 year · Shares: 7715900 · Source: p.99, 100 · Category: promoter

The business

What it does

Deep

Incorporated in 2008, Om Galaxy Limited operates in precision moulding and tooling, manufacturing pipe fitting moulds, industrial moulds, automotive moulds (via subsidiary OMG Auto Mould Private Limited), hot runner systems (via subsidiary Infuse HRS Private Limited), and plastic cleaning products under its brand 'WONDRA'. The company operates seven manufacturing units across Vasai and Pune in Maharashtra with a total production area of 88,652.16 sq. ft. across owned and leased premises, employing 645 personnel as of June 30, 2026. For FY26, installed capacity for moulds across units stood at 1,146 MTPA with 84% utilization for Om Galaxy Limited, 85% for OMG Auto, and 88% for Infuse HRS. Products are sold to B2B industrial clients in building materials, automotive, electricals, and consumer electronics, as well as B2C retail/online channels for WONDRA cleaning products. Domestic sales contributed 91.74% and exports contributed 5.10% to FY26 revenue from operations. Raw materials like tool steel, P20, and components are procured from domestic suppliers and imported from international markets.

Moat

In-house design, tooling, and Hot Runner Systems integration capabilities; forward integration into branded consumer cleaning products ('WONDRA'); long-standing relationships with repeat customers contributing 75.60% of FY26 revenue; and 18+ years of promoter experience in precision mould manufacturing.

Short

Om Galaxy Limited is an ISO-certified manufacturer of precision dies and moulds, hot runner systems, and plastic household cleaning products under its brand 'WONDRA'.

Source: p.48, 105, 184, 194

The numbers as filed

Financials

As presented in the offer document. Post-listing figures are in the statements above.

Revenue crPat cr
10512
FY24
11315.9
FY25
12416.6
FY26
The numbers behind it
BasisPeriodRelated party revenue crPat crPat marginRevenue crPat margin derivedCff cr
consolidatedFY26016.635813.42%124.0014yes10.1585
consolidatedFY250.028815.916414.13%112.6612yes-8.4652
consolidatedFY240.104912.039211.51%104.5568yes2.1305
The questions worth asking

Written before listing, answered from the document itself.

How are the fresh issue IPO proceeds allocated across capital expenditure, debt repayment, and general corporate purposes?

Fresh issue proceeds of up to Rs. 105.00 crore (at cap price of Rs. 90) are allocated as: Rs. 74.6636 crore for setting up a new consolidated manufacturing unit at Poman, Vasai; Rs. 14.0000 crore for pre-payment/repayment of bank borrowings; and the balance for General Corporate Purposes (GCP capped at 25%).

p.105, 106

What is the promoters' shareholding pre and post-issue, and what is their acquisition history?

Promoters Opindersingh Baddhan, Jyothish Nambiar, Sathyapalan Poyil, Gagandeep Baddhan, and Meena Baddhan hold 100.00% pre-issue shareholding, diluting to 75.00% post-issue. Promoters received 18,509,020 bonus shares in December 2025, yielding a 3-year WACA of Rs. 17.14 per share against the cap price of Rs. 90.00.

p.76, 89, 98, 132

What are the key related-party transactions with promoter-owned entities and directors?

Promoter directors received Rs. 3.6330 crore in total managerial remuneration in FY26. Job work paid to promoter-owned entity OM Enterprises was Rs. 0.5831 crore. Promoters provided personal guarantees for 100% of company borrowings (Rs. 37.7890 crore) and unsecured loans totaling Rs. 0.0628 crore.

p.42, 72, 73, 165

How did operating cash flow perform relative to restated profits over FY24 to FY26?

Restated PAT grew from Rs. 12.0392 crore in FY24 to Rs. 15.9164 crore in FY25 and Rs. 16.6358 crore in FY26. Cash flow from operations (CFO) expanded strongly from Rs. 3.4333 crore in FY24 to Rs. 26.7665 crore in FY25 and Rs. 35.0335 crore in FY26, demonstrating 210.6% cash conversion of net profit in FY26.

p.68, 70, 279

What secretarial, statutory compliance, and workforce findings exist for the issuer?

The company operates 7 manufacturing units across Vasai and Pune with 645 total personnel. Disclosed statutory compliance findings include administrative delays in depositing GST, TDS, and EPF dues, as well as CARO disclosures noting provisional quarterly stock statement variances submitted to banks. Statutory auditor M/s Shetty Naik & Associates has served for 3+ years.

p.25, 39, 40, 306

What are the lot size, application ticket cost, market maker terms, and liquidity constraints for public investors?

The issue price band is Rs. 85 to Rs. 90 per share with a market lot size of 1,600 shares, requiring a minimum retail application of 2 lots (3,200 shares) amounting to Rs. 2,88,000 at the cap price. Trading occurs strictly in standardized market lots of 1,600 shares, and because lots are indivisible, partial exit or fractional lot trading is impossible. Aikyam Capital Private Limited is the Market Maker with 584,000 reserved shares (5.01%) and a mandatory 3-year obligation period. Standard SME 5% price circuit limits apply.

p.1, 7, 8, 84, 85, 351

Valuation at issue

What the issue priced at, on the figures in the document.

12.5
22.13
p.127, 128, 129
Based on Basic and Diluted EPS of Rs. 7.20 for FY 2025-26 at Cap Price of Rs. 90 (11.81x at Floor Price of Rs. 85)
35.94
There are no listed companies in India comparable to our Company in terms of business activities, size and scale.

The offer, ownership and risks

Subscription

How the book filled. A category that bid far above the rest is a different signal from a uniformly covered issue.

Overall subscription, by day
15-09-20262.5x
14-09-20261.2x
11-09-20261.19x
10-09-20260.73x
Final book, by category
Retail0.04x
Non-institutional1.19x
QIB1.81x
Reservation
3881600
555200
2216000
Pre-IPO investors
DateNameSharesPrice per shareCategoryIssue typeSource
2008-10-08Initial Subscribers to MOA10000100promoterinitialp.88
2015-02-27Existing Shareholders10000100promoterrightsp.88
2016-03-15Existing Shareholders30000100promoterrightsp.88
2017-03-31Existing Shareholders26000100promoterrightsp.88
2018-03-31Existing Shareholders34000100promoterrightsp.88
2019-03-30Existing Shareholders32000500promoterrightsp.88
2020-03-30Existing Shareholders8875750promoterrightsp.88
2021-03-31Existing Shareholders7700960promoterrightsp.88
2022-03-25Existing Shareholders60001100promoterrightsp.88
2023-03-31Existing Shareholders35001400promoterrightsp.88
2024-01-16Existing Shareholders130002000promoterrightsp.88
2024-02-17Existing Shareholders20002000promoterrightsp.88
2024-04-05Existing Shareholders5002000promoterrightsp.88
2024-08-03Existing Shareholders18357500promotersplitp.89
Management

Ceo: Opindersingh Bachattarsingh Baddhan

Litigation

There are no material civil, criminal or tax litigations against the Company, Promoters or Directors exceeding the materiality threshold of Rs. 0.8318 Crore.

Auditor name: M/s Shetty Naik & Associates, Chartered Accountants

Skin in game: Promoters hold 100.00% pre-issue shareholding (holding 22,210,800 out of 22,210,824 equity shares).

Auditor rpt flags

CARO 2020 annexure for FY26 noted that quarterly stock statements submitted to bank differed from books of accounts due to provisional numbers, but year-end working capital agreed with books without material misstatement.

Auditor changed last 3y: No

Source: p.2, 3, 25, 306

Related-party dealings

Transactions with promoters, directors and their entities, as disclosed.

CounterpartyAmount crNatureRelationshipCore functionSource
Opindersingh Bachattarsingh Baddhan1.001remunerationdirectoryesp.72, 165
Jyothish Rajamohanan Nambiar0.715remunerationdirectoryesp.72, 165
Sathyapalan Ayadathil Poyil0.715remunerationdirectoryesp.72, 165
Gagandeep Opinder Singh Baddhan0.6435remunerationdirectoryesp.72, 165
Opindersingh Bachattarsingh Baddhan0.4012rentdirectornop.73, 165
Meena O Baddhan0.179rentrelativenop.73, 165
OM Enterprises0.5831job workpromoter-owned entityyesp.73, 164
Opindersingh Bachattarsingh Baddhan0.31loan takendirectornop.73, 165
Statutory dues

Detail

Disclosed administrative delays in statutory filings including GST (Rs. 0.0088 Crore late fees/interest in FY25, Rs. 0.0520 Crore in FY24), TDS (Rs. 0.0072 Crore in FY25, Rs. 0.0027 Crore in FY24), EPF (Rs. 0.0011 Crore in FY25), and ROC charge creation/modification form filing regularizations.

Defaults disclosed: Yes

Source: p.39, 40, 187

Timeline
2026-09-09
2026-09-10
2026-09-15
2026-09-16
2026-09-17
2026-09-17
2026-09-18
2026-10-27
The offer and who ran it
Ownership around the issue
Promoter, pre-issue1%
Free float25%
Pledged0%
100%
0%
25%
16.94 cr
5
1,600
288,000
BIGSHARE SERVICES PRIVATE LIMITED
Indorient Financial Services Limited

Reading the numbers on this pagetwo bases, both shown

What the filings we hold do not give

Models that need these lines are withheld rather than estimated: two comparable financial years. Nothing on this page is back-solved from a figure the company did not publish.

Growth & valuation workspace

Set your own assumptions and watch the numbers move. A scenario calculator — the outputs are the arithmetic of your inputs.

User-driven scenario tool. Implied value and CAGR follow only from the assumptions you set — not a FinMinutes forecast, recommendation, or target price.

Valuation & quality

One canonical set of figures — the same numbers used everywhere else on this page and on the screener.

What you payHow the price compares with earnings, book and sales.
P/E (TTM)
11.7x
trailing 12m, live feed
P/B
2.40x
How it is fundedLeverage and what is returned to shareholders.
Debt / equity
0.47
conservative
Book value / share
₹36.1

Ownership & Skin in the Game

How the register has moved over recent quarters — the direction matters more than the level.

Promoter ― 0.00
Sep '2665.56%

Promoter held steady from 65.56% to 65.56% across these quarters.

FII ― 0.00
Sep '268.90%

FII held steady from 8.90% to 8.90% across these quarters.

Other ― 0.00
Sep '2625.54%

Other held steady from 25.54% to 25.54% across these quarters.

Order book and executionthe numbers this business is run on

What this sector is read on: Order inflow, Order book, Book to bill, Execution rate, Unbilled revenue, Customer advances, Government share of book, Working capital days. These come from the filings, not the market feed, and appear here once a quarter is read.

Read using the Capital goods and EPC framework (from the listed sector). Primary valuation lens: P/E against order book quality.

3 standard reads withheld or marked as expected here, and why
  • Government and large-contract payment cycles run long by design.
  • Performance and bank guarantees are mandatory on every contract.
  • Milestone and percentage-of-completion revenue makes quarters uneven.

Read more closely in this sector: Unbilled revenue growing faster than billed receivables · Order inflow against execution · Bank guarantees outstanding growing faster than the order book · Liquidated damages or cost overruns disclosed.

Others in Engineering - Industrial Equipments

The same read, applied to the companies this one competes with.

DISCLAIMER: FinMinutes is a financial data and analytics platform, not a registered investment adviser. Everything here is for educational and informational purposes. Forensic interpretations are computed from disclosed data and are not recommendations. Do your own due diligence.
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