Om Galaxy

Established in 2008, Om Galaxy Ltd. has evolved over nearly two decades to become a specialized player in the precision mould and fitting industry. The company focuses on the design, development, and manufacturing of critical industrial components, including automotive moulds and Hot Runner Systems, which are essential for high-efficiency plastic injection moulding.

Operating under the brand name 'WONDRA', the company has expanded its product portfolio to include 77 different products as of June 30, 2026. This diversification allows the company to maintain a presence across multiple high-growth sectors, including the automotive components market and the building materials industry.

Om Galaxy's business model is built upon strong, long-term relationships with its customers, ensuring a steady stream of repeat business. By integrating design and development with manufacturing, they provide end-to-end solutions for industrial engineering needs, positioning themselves as a reliable partner for plastics and polymer applications.

The operational scale of the company is reflected in its consistent growth in asset base and revenue. The company's technical expertise is managed by a team of experienced promoters and senior management who oversee the production of high-precision moulds used in various industrial settings.

The promoters of the company include Opindersingh Bachattarsingh Baddhan, Jyothish Rajamohanan Nambiar, Sathyapalan Ayadathil Poyil, Gagandeep Opinder Singh Baddhan, and Meena O Badhhan, who collectively steer the strategic direction of the firm.

Om Galaxy is launching a book-built IPO to raise approximately ₹105 Crore, consisting entirely of a fresh issue of shares with no Offer for Sale (OFS) component. The price band is set between ₹85 and ₹90 per share, with a minimum retail lot size of 3,200 shares requiring an investment of ₹2,88,000. The issue is scheduled to open on September 10, 2026, and close on September 15, 2026, with listing on the BSE SME platform on September 18, 2026.

The proceeds from the fresh issue are earmarked for strategic growth, with ₹74.66 Crore allocated toward capital expenditure for a new manufacturing unit. This unit aims to consolidate existing facilities and expand production capacities. Additionally, ₹14.00 Crore will be utilized for the repayment or prepayment of outstanding borrowings.

Financial performance shows a steady upward trajectory. Revenue grew from ₹105.12 Crore in 2024 to ₹124.68 Crore in 2026. Similarly, the Profit After Tax (PAT) improved from ₹12.04 Crore in 2024 to ₹16.64 Crore in 2026, demonstrating consistent operational efficiency and margin stability.

From a valuation perspective, the company reports a basic EPS of ₹7.20 and a Net Asset Value (NAV) of ₹35.94. A significant strength of the issue is the 100% fresh issue structure, meaning all capital stays within the company for growth rather than exiting to promoters. However, the lack of listed peers in India makes a relative P/E valuation challenging.

Key strengths include high profitability ratios, with an ROE of 22.13% and ROCE of 20.39%, and a manageable debt-to-equity ratio of 0.45. The main risk factors involve the inherent volatility of the SME segment and the dependency on specific industrial sectors like automotive and building materials.

Investors should view this as a long-term play based on the company's fundamental growth and the productive use of IPO proceeds. While the financial health is robust, the current lack of aggressive subscription demand in the retail and HNI categories suggests a cautious approach for short-term listing gains.