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Investment Opportunity

Premium Engineered Doors & Architectural Products

ISO 9001:2015 Certified · Pune-based Manufacturer

Scalable, asset-light model serving residential developers, institutions & channel partners

📍 Pune, MH Installed capacity: 3,000 doors/mo 5,000 frames/mo Promoter transition support

ADVISORY SERVICES

CA Dhiraj Ostwal & Co.

PRIVATE & CONFIDENTIAL

Company Snapshot

  • ISO 9001:2015 certified manufacturer of engineered doors, door frames and profile-wrapped architectural products.
  • Pune-based facility with 10,500 sq.ft built-up area (leased from promoter).
  • Installed processing capacity: ~3,000 doors & 5,000 frames per month.
  • Capital-efficient model: in-house laminating, profile wrapping, QC, procurement & project management.
  • Growing dealer & channel partner network.
  • Revenue growth: ₹1.6 Cr (FY24) → ₹5.5 Cr (FY25) → ₹10.3 Cr (FY26 provisional).
  • Significant available capacity for future growth.
  • Promoter transition support available (100% equity stake).
  • No external bank borrowings; promoter loans to be addressed separately.

Products: Engineered Doors, Wooden/WPC Door Frames, Profile Wrapped Frames, Architectural Interior Components.

Customers: Real estate developers, residential projects, commercial, educational, healthcare, interior contractors, dealers.

Financial Summary (Balance Sheet)

Particulars (₹)FY24FY25FY26
Capital Account6,71,2676,71,26769,15,569
Unsecured Loans44,50,0011,93,74,3972,26,82,019
Current Liabilities2,33,48542,85,12836,13,704
Fixed Assets23,06,84636,09,42934,95,532
Investments1,15,00038,10,00059,59,583
Sundry Debtors13,35,7761,31,04,5772,29,42,845
Closing Stock11,59,43996,42,93979,76,931
Current Assets29,32,9062,45,58,9893,37,89,238
Total Assets53,54,7523,19,78,4184,32,44,353
*FY26 provisional. Balance sheet as at 31-Mar.

Key Takeaways & Recommendations

📈 Growth & Scalability

  • Revenue tripled from ₹1.6 Cr (FY24) to ₹5.5 Cr (FY25), with provisional ₹10.3 Cr in FY26 – a strong upward trajectory.
  • Significant untapped capacity – current utilization ~3,000 doors/month vs installed capacity of ~3,000 doors and 5,000 frames, allowing growth without major capex.
  • Asset-light model with leased facility and lean operations enables rapid scaling.

🧑‍💼 Customer Side

  • Concentrated revenue base – top customers account for significant share; Majestique group entities represent 45–70% of Top-10 revenue across periods.
  • Diversification emerging – new large accounts like Sharad Shree Enterprises and Samarth Builders have entered the Top-10 in FY26.
  • Repeat business – strong long-term relationships with real estate developers and institutions.
  • Opportunity – expanding dealer and channel network to reduce dependency on a few large clients.

🧾 Supplier Side

  • Concentrated supply base – top 3 suppliers account for 55–67% of Top-10 purchases.
  • Rising vendor dependency – Anurama Infra + Jenson Veneers combined share grew from 10.5% (FY24) to ~50% (FY26-27).
  • Recurring core suppliers – Anurama, Jenson, Mayur Plylam, Evershine Decor, and Merino Industries appear consistently.
  • Risk factor – disruption at key vendors could significantly impact production; alternative vendor qualification recommended.

📊 Financial & Operational Strength

  • No external bank borrowings – only unsecured promoter loans (₹2.27 Cr in FY26) to be addressed separately.
  • Healthy current assets of ₹3.38 Cr (FY26) with strong debtor book of ₹2.29 Cr.
  • ISO 9001:2015 certified with established quality control and execution ecosystem.
  • Capital-efficient – in-house laminating, profile wrapping, QC, and project management.

🔍 Strategic Recommendations for Investors

  • Capitalize on growth momentum – the company is positioned to scale with minimal incremental investment.
  • Review promoter loan structure – ensure smooth transition with clear repayment/restructuring plan.
  • Expand dealer & channel network – current focus on Pune; geographic expansion offers significant upside.
  • Leverage available capacity – additional volume can be absorbed without major infrastructure outlay.
  • Explore product diversification – profile-wrapped products and WPC frames are high-margin growth segments.
  • Mitigate concentration risks – actively diversify customer and supplier base to reduce dependency.

Transaction Summary – Asking Price

Transaction Component Details Amount (₹)
Equity Stake 100% Equity (Promoter transition support included) 11,15,00,000
Revenue (FY26 Provisional) Trailing 12-month revenue 10,30,00,000
Total Assets (FY26) Balance sheet total assets 4,32,44,353
Valuation Multiple Asking Price / FY26 Revenue ~1.08x
Transaction Structure Promoter loans to be addressed separately · No external borrowings
*All figures are indicative and subject to due diligence. Valuation multiple based on provisional FY26 revenue of ₹10.3 Cr.
CA DHIRAJ OSTWAL & Co.

M&A | Realty Advisory | Transaction Excellence

Your trusted partner for due diligence, negotiation, and seamless property acquisition.

📧 Email
dhiraj.ostwal@gmail.com
📞 Direct Line
70200 45454
🌐 Website
www.cadhirajostwal.com
🏢 Pune Corporate Office
2nd Floor, Shree Krishna, 7, Shirole Lane, Near Fergusson College Road, Shivajinagar, Pune – 411004

Confidential: For qualified investors only. This is not a legal offer document. All figures are indicative and subject to due diligence.

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