Om Galaxy

Established in 2008, Om Galaxy Ltd. has evolved over nearly two decades into a specialized manufacturer of high-precision industrial components. The company has built a reputation for quality in the engineering sector, focusing on the creation of industrial and automotive moulds and complex Hot Runner Systems (HRS).

Its business model revolves around the 'WONDRA' brand, which currently encompasses 77 distinct products. These products are integral to various high-growth industries, including the automotive auto-components sector, polymer processing, and the construction of building materials.

The company maintains a strong market position by leveraging deep expertise in mould design and development, ensuring repeat business through long-term relationships with its customer base. Its operational reach extends across various industrial engineering segments, providing critical infrastructure components.

In terms of scale, the company continues to expand its production capabilities to meet rising demand. The operational focus remains on high-precision engineering and the integration of advanced manufacturing processes to maintain a competitive edge in the industrial mould market.

The leadership team consists of experienced promoters including Opindersingh Bachattarsingh Baddhan, Jyothish Rajamohanan Nambiar, Sathyapalan Ayadathil Poyil, Gagandeep Opinder Singh Baddhan, and Meena O Badhhan, who bring extensive industry knowledge to the company's strategic direction.

Om Galaxy is launching a Book Built Issue to raise approximately ₹105 Crore, consisting entirely of a fresh issue of equity shares. The IPO is priced with a price band of ₹85 to ₹90 per share, with a minimum lot size of 3,200 shares requiring an application amount 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 strategically earmarked for growth and debt reduction. A significant portion of ₹74.66 Crore will be utilized for capital expenditure to set up a new manufacturing unit, aimed at consolidating existing units and expanding production capacity. Additionally, ₹14.00 Crore will be used for the prepayment or repayment of outstanding borrowings.

Financial performance shows a steady upward trajectory. Revenue increased from ₹105.12 Crore in 2024 to ₹113.13 Crore in 2025, and further to ₹124.68 Crore in 2026. Net Profit (PAT) has also grown consistently, rising from ₹12.04 Crore in 2024 to ₹16.64 Crore in 2026, demonstrating operational efficiency.

From a valuation perspective, the company reports a strong ROE of 22.13% and ROCE of 20.39%. With a basic EPS of ₹7.20 and a Net Asset Value (NAV) of ₹35.94, the company presents a healthy financial profile. Notably, there are no direct listed peers in India, making relative P/E valuation challenging but highlighting a unique market position.

Key investment strengths include the 100% fresh issue structure, which indicates growth intent rather than promoter offloading, and strong EBITDA margins of 26.33%. The company's low debt-to-equity ratio of 0.45 provides a comfortable cushion for future scaling.

However, investors should consider risks such as the inherent volatility of the SME segment and the lack of listed peers for benchmarking. Overall, the issue appears fundamentally sound for those seeking exposure to industrial engineering with a growth-oriented capital allocation plan.