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Silkflex Polymers (India) Limited

Silkflex Polymers (India) Limited

Silkflex Polymers (India) Limited is a leading name in the textile printing industry.

About Company

Silkflex Polymers (India) Limited: Pioneering Innovation in Textile Printing Inks and Eco-Friendly Wood Coatings

Silkflex Polymers (India) Limited, formerly known as Silkflex Polymers (India) Private Limited, stands as a testament to innovation and quality in the field of garment printing inks and wood coatings. With a robust connection to Silkflex Polymers Sdn. Bhd. Malaysia, the company has carved a niche for itself by offering products that are not only superior in quality but also tailored to meet the specific needs of its clientele.

The Journey of Silkflex Polymers (India) Limited

Incorporated on May 13, 2016, Silkflex Polymers (India) Limited began its journey with a clear vision to trade in textile printing inks and water-based wood coating polymers produced by its Malaysian counterpart. The company's commitment to excellence is evident in its selection of products, which includes 108 textile printing ink products and 51 wood coating polymer products, catering to a diverse range of applications and industries.

A Unique Approach to Manufacturing

What sets Silkflex Polymers apart is its in-house manufacturing and formulation process. From the polymer/resin to the final ink product, everything is created within the company's state-of-the-art thermal reactor. This approach ensures that the performance of the ink is almost entirely dependent on the properties of the polymers/resin, allowing Silkflex to design and tailor-make polymers/inks for specific applications and effects.

A Trusted Name Among Global Brands

Silkflex's commitment to quality has earned it a place in the list of nominated suppliers for global brands such as PUMA, C&A, and H&M. The company's products are currently used by all major apparel brands worldwide, with a recent expansion into European countries like Portugal, Turkey, and Spain.

Innovation in Eco-Friendly Wood Coatings

In addition to its textile printing inks, Silkflex Polymers Sdn. Bhd. Malaysia has introduced fully water-based wood coating products under the brand name Silkflex Wood Coating. These products lead the way in water-based wood coating technology, offering extremely hard finishes rapidly in a low VOC formulation. Silkflex Wood Coating is being used by the largest furniture brands globally and in some of the most prestigious buildings, effectively replacing traditional solvent-based wood lacquers.

The IPO and Future Prospects

Recently, Silkflex Polymers (India) Limited announced its IPO, which opened for subscription on May 7, 2024, and closed on May 10, 2024. The IPO was a fixed price issue of ₹18.11 crores, entirely a fresh issue of 34.82 lakh shares. With the IPO, the company aims to expand its reach and continue its legacy of innovation and quality in the industry.


Silkflex Polymers (India) Limited's dedication to providing high-quality, innovative products has established it as a leader in the textile printing ink and wood coating markets. As the company moves forward, it continues to embrace the challenges of sustainability and eco-friendliness, ensuring that its products not only meet the highest standards of performance but also contribute to a greener planet.

Silkflex Polymers (India) Limited

Company Financials

Silkflex Polymers (India) Limited

IPO Timeline (Tentative Timetable)

IPO Opening Date

May 7, 2024: The IPO officially opens for subscription, inviting investors to partake in the growth story of Silkflex Polymers.

IPO Closing Date:

- May 10, 2024: The subscription window closes, concluding the initial phase of the IPO process.

Allotment Date:

May 13, 2024: The allotment process will be finalized, determining the distribution of shares among the applicants.

Initiation of Refunds:

May 14, 2024: For those investors who did not receive an allotment, the refund process will begin.

Credit of Shares to Demat Accounts:

May 14, 2024: Successful allottees will have their shares credited to their respective Demat accounts.

Listing Date:

May 15, 2024: Silkflex Polymers will make its debut on the NSE SME platform, marking the commencement of its shares being publicly traded.

Silkflex Polymers (India) Limited

IPO Details

Competitive Strength

Silkflex Polymers (India) Limited: A Comprehensive Analysis of Competitive Strengths

Silkflex Polymers (India) Limited, incorporated in 2016, has swiftly carved a niche for itself in the highly competitive polymer industry. As a trader of textile printing inks and water-based wood coating polymers, Silkflex Polymers has established a formidable presence in the Indian market. This blog post delves into the competitive strengths that set Silkflex Polymers apart from its competitors.

ZDHC Certification

One of the pivotal strengths of Silkflex Polymers is its commitment to environmental sustainability, as evidenced by its Zero Discharge of Hazardous Chemicals (ZDHC) certification. This certification underscores the company's adherence to stringent guidelines that aim to eliminate the use of hazardous chemicals in the production process. It not only reflects the company's dedication to environmental responsibility but also appeals to a growing segment of eco-conscious consumers.

### 2. Diverse Product Range

Silkflex Polymers boasts a wide array of products, including 108 textile printing ink products and 51 wood coating polymer products. This diversity allows the company to cater to various customer needs and preferences, thereby enhancing its market reach and adaptability.

 Strategic Location Advantage

The company's strategic location offers a significant advantage, facilitating easy access to key markets. Silkflex Polymers operates in five Indian states - West Bengal, Tamil Nadu, Punjab, Rajasthan, and Gujarat. These regions are known for their vibrant textile industries, which positions Silkflex Polymers in proximity to a substantial customer base.

Strong Client Relationships

Building and maintaining robust relationships with clients is a cornerstone of Silkflex Polymers' business strategy. The company's well-established relationships with its clientele are a testament to its reliability, quality of products, and customer service excellence.

Leveraging Promoter and Director Experience

The experience and expertise of the company's promoters and directors play a crucial role in its success. Their deep understanding of the industry dynamics and market trends has been instrumental in steering the company towards growth and innovation.

Effective Marketing Practices

Silkflex Polymers employs strong marketing practices that have significantly contributed to its brand recognition and market penetration. The company's marketing strategies are designed to effectively communicate the value proposition of its products to potential customers.

Financial Performance

The company's financial performance further highlights its competitive edge. Silkflex Polymers has reported a consistent rise in revenue from operations, with figures reaching INR 20.75 crore in FY 2021, INR 27.82 crore in FY 2022, and INR 34.21 crore in FY 2023. The profit after tax also showed an upward trajectory, with INR 0.61 crore in FY 2021, INR 0.92 crore in FY 2022, and INR 1.08 crore in FY 2023.


Silkflex Polymers (India) Limited's competitive strengths are a harmonious blend of environmental responsibility, product diversity, strategic location, strong client relationships, experienced leadership, and effective marketing. These attributes have not only facilitated the company's growth but also fortified its position in the polymer industry. As Silkflex Polymers continues to evolve and expand, it remains a compelling case study of a company leveraging its strengths to achieve competitive advantage in a challenging market landscape.

se product range, strategic location, strong client relationships, experienced leadership, and effective marketing. These strengths have collectively contributed to the company's impressive financial performance and its ability to navigate the competitive landscape of the polymer industry. As Silkflex Polymers continues to grow and innovate, it serves as a model for other companies seeking to establish a competitive edge in their respective markets.

Company's Past Financial Performance

Analyzing the Financial Performance of Silkflex Polymers (India) Limited: A Three-Year Overview

Silkflex Polymers (India) Limited, a company established in 2016, has been making strides in the industry with its specialized focus on importing and distributing textile printing inks and water-based wood coating polymers. The company's association with the renowned Malaysian brand Silkflex has positioned it as a significant player in the market, known for its adherence to international standards and quality products.

Over the past three years, Silkflex Polymers has demonstrated a consistent growth trajectory in its financial performance. The company's revenue and profit have shown an upward trend, reflecting its strong market presence and operational efficiency.

In the fiscal year 2021, the company reported a revenue of INR 20.75 Crores, which marked the beginning of a period of robust growth. The subsequent year, FY 2022, saw a significant increase in revenue to INR 27.82 Crores. This 34% growth can be attributed to the company's expanding product range and strategic market initiatives.

The upward trend continued into FY 2023, with the company's revenue reaching INR 34.21 Crores. This represents a 23% increase from the previous year, showcasing Silkflex Polymers' ability to sustain growth momentum in a competitive market.

Profitability is another critical aspect of the company's financial health. In FY 2021, the profit after tax (PAT) stood at INR 0.45 Crores. There was a noticeable improvement in FY 2022, with the PAT increasing to INR 0.69 Crores, indicating a 53% growth. The following year, FY 2023, the company's profitability further strengthened, with the PAT rising to INR 0.79 Crores, a 14% increase from FY 2022.

The company's Earnings Before Interest and Taxes (EBIT) also reflect a positive outlook, with an increase from INR 1.2 Crores in FY 2021 to INR 1.99 Crores in FY 2023. This growth in EBIT underscores the company's operational efficiency and its ability to manage expenses effectively.

Debt levels are a crucial factor in assessing a company's financial stability. Silkflex Polymers has managed its debt prudently over the past three years. The debt stood at INR 6.13 Crores in FY 2021 and increased to INR 12.08 Crores in FY 2023. This controlled increase in debt is in line with the company's growth and expansion activities.

The Return on Equity (RoE) is a testament to the company's ability to generate profits from its shareholders' investments. The RoE has seen a gradual increase from 8.75% in FY 2021 to 9.67% in FY 2023, reflecting the company's commitment to delivering value to its shareholders.

Silkflex Polymers' financial performance over the past three years paints a picture of a company that is on a growth path, with increasing revenues, improving profitability, and a solid financial foundation. The company's strategic focus on quality products and market expansion has paid off, positioning it well for future growth and success.

For investors and stakeholders, the consistent financial performance of Silkflex Polymers (India) Limited offers a promising outlook. The company's ability to navigate market challenges and maintain a growth trajectory speaks volumes about its potential and the opportunities that lie ahead.

As Silkflex Polymers prepares for its upcoming IPO, the financial figures and trends discussed here provide valuable insights into the company's prospects and potential for growth. Investors looking to participate in the IPO would do well to consider these financial indicators as part of their decision-making process.

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