Om Galaxy Limited

Om Galaxy Limited, originally incorporated in 2008 as Om Galaxy Precision Mould Crafts Private Limited and subsequently converted into a public entity in 2024, is an established, high-precision player in the rigid plastic packaging (RPP) and industrial tooling sector in India. The company’s core value proposition lies in its ability to offer a completely integrated, design-to-trial manufacturing capability for complex plastic injection moulds, dies, and hot runner systems (HRS). Operating primarily on a B2B, customized, and project-based business model, the company engineers bespoke, high-tolerance tooling solutions. Supported by its subsidiaries—OMG Auto Mould Private Limited (heavy automotive tooling) and Infuse HRS Private Limited (hot runner systems)—Om Galaxy is positioned as a forward-integrated MSME capable of delivering complete, ready-to-run mould assemblies that minimize transmission losses and maximize cycle speed for high-volume manufacturing lines.

The company's primary client segments are diversified across PVC/CPVC/UPVC pipe fittings, sanitaryware, telecom, solar energy, household backup power (inverter/UPS battery casings), industrial paint and lubricant pails, and automotive components. Its customer roster includes prominent industrial market leaders such as Luminous Power Technologies, Livguard Energy Technologies, Kansai Nerolac Paints, Uno Minda, TVS Motor Company, Birla Opus, Jotun, and Vadilal. To maintain strong customer retention, the company utilizes a proximity-focused supply chain model, operating regional storage and logistics hubs in key client clusters (including Pune and Jodhpur) to optimize transit times and minimize logistics overheads. While the company actively distributes its products across 24 states and union territories in India, it has also expanded its geographic reach globally, exporting customized moulds to clients across North America, the Middle East, and Southeast Asia.

In Fiscal 2025, leveraging its industrial mould-making capabilities, the company strategically diversified into the fast-growing Indian household cleaning implements and consumables segment under its consumer-facing sub-brand, "WONDRA". Under this brand, the company manufactures and sells non-electric household cleaning implements, such as mops, brooms, brushes, scrubbers, squeegees, and microfiber cloths. This consumer-centric segment represents a major strategic growth driver, allowing the company to reduce cyclical risk and expand into FMCG territory. WONDRA targets a Serviceable Obtainable Market (SOM) projected to reach ₹100 Crore by FY30, representing a significant retail expansion opportunity for the group.

As of the date of the RHP, the company and its subsidiaries operate seven advanced manufacturing facilities located across Vasai (Palghar district) and Pune in Maharashtra, collectively spanning a total area of 88,652.16 square feet and employing over 630 permanent personnel. Parent Om Galaxy Limited operates four of these facilities in Vasai, Palghar. Its subsidiary OMG Auto Mould operates a unit in Palghar and a specialized unit in Kuruli, Pune. Infuse HRS designs and fabricates its hot runner systems from a dedicated facility in Vasai, Palghar. To optimize resource deployment and unlock operating leverage, the company is deploying its IPO proceeds to construct a state-of-the-art consolidated manufacturing facility admeasuring 1,83,965.67 square feet in Poman, Vasai, which will bring all four scattered Palghar factories under a single, fully owned roof.

The group's manufacturing operations have consistently maintained healthy capacity utilization rates. For parent Om Galaxy Limited, the aggregate annual installed mould capacity stands at 1,146 MTPA, which achieved a capacity utilization of 84% (producing 960 MT) in FY26, showing a steady rise from 79% in FY24. In its newly launched WONDRA consumables segment, the company possesses an annual installed capacity of 450 MTPA, which registered a 60% capacity utilization rate (producing 270 MT) in its inaugural year. For its subsidiary OMG Auto Mould, the combined installed capacity of its Palghar and Pune plants is 473 MTPA, achieving a capacity utilization rate of 80% (producing 378 MT) in FY26.

A primary technological moat for the group is its in-house product design, simulation, and tooling division, which employs 39 full-time design engineers across the parent company and subsidiaries. Backed by advanced in-house tool room facilities in Mumbai and Dehradun, this division utilizes CAD, CAE, and CAM software to optimize mould core designs and balanced runner configurations. The manufacturing units house high-precision equipment, including CNC lathe machines, vertical and horizontal machining centers, deep hole drilling machines, and Coordinate Measuring Machines (CMM). Furthermore, the company holds a registered joint patent with its subsidiary Infuse HRS (Patent No. 590105, granted on May 22, 2026), confirming its technical leadership and product innovation capabilities in the rigid packaging ecosystem.

In terms of financial performance, Om Galaxy Limited posted total income / net profits of ₹105.12 Cr / ₹11.79 Cr (FY24), ₹113.13 Cr / ₹15.28 Cr (FY25), and ₹124.68 Cr / ₹16.00 Cr (FY26) based on restated consolidated profits attributable to owners (with total consolidated net profits of ₹12.04 Cr, ₹15.92 Cr, and ₹16.64 Cr, respectively). Over the last three fiscal years, total income expanded at an 8.89% CAGR, and profit after tax (PAT) attributable to owners grew at a 16.51% CAGR (with total group PAT growing at a 17.55% CAGR). Concurrently, the balance sheet deleveraged as its Debt-to-Equity ratio reduced from 0.64x in FY24 to 0.38x in FY25, standing at a healthy 0.45x in FY26. The company reported an average EPS of ₹6.79 and an average RoNW of 24.71% over the last three fiscals. Based on pre-issue book value, the issue is priced at a Pre-Issue P/BV of 2.50x against an NAV of ₹35.94 as of March 31, 2026. Factoring in the fresh issue proceeds, the Post-Issue P/BV stands at 1.65x. Attributing the earnings of FY24, FY25, and FY26 to the expanded equity base post-issue, the asking price reflects a Post-Issue P/E of approximately 25.85x, 19.96x, and 19.06x, respectively, based on earnings attributable to owners (or 25.33x, 19.16x, and 18.33x on a total consolidated profit basis). As per the RHP, there are no listed companies in India strictly comparable in terms of business model, scale, and integrated hot runner tooling operations.

On the BRLM front, Indorient Financial Services Limited is the Book Running Lead Manager, having handled 7 IPOs to date. Of the last 7 IPOs, four opened below the issue price and three opened above the issue price or at par on listing day. As of September 07, 2026, four issues are trading below their issue price, while three are trading above or at par.

• 1 Opindersingh Bachattarsingh Baddhan
• 2 Jyothish Rajamohanan Nambiar
• 3 Sathyapalan Ayadathil Poyil
• 4 Gagandeep Opinder Singh Baddhan
• 5 Meena O Baddhan