Dhaval Packaging Limited designs, manufactures, and supplies rigid plastic packaging solutions for the food, FMCG, and industrial sectors. The company primarily manufactures In-Mold Labeling (IML) food containers and SAW Pipe Protection Plastic End Caps, serving domestic as well as international customers across industries such as dairy, bakery, confectionery, pharmaceuticals, agro-food, oil & gas, construction, and infrastructure.
The company operates manufacturing facilities at Sanand, Gujarat, with 21 injection molding machines and a production capacity of around 8,000 kg per day. Its focus on automation and in-house tooling enables efficient manufacturing, customized product development, and timely delivery.
Dhaval Packaging serves both domestic and international markets, with exports to Malaysia, Mauritius, Canada, UAE, Qatar, and Australia, strengthening its global presence.
The company holds ISO 9001:2015, ISO 14001:2015, ISO 45001:2018, and ISO/IEC 17025:2017 certifications, reflecting its commitment to quality, environmental management, workplace safety, and product reliability.
Key Products:
- IML (In-Mold Labeling) Containers: Dhaval Packaging manufactures around 39 SKUs of food-grade IML containers for dairy, bakery, frozen foods, pharmaceuticals, and agro-food products.
- SAW Pipe Protection Plastic End Caps: The company manufactures plastic end caps used to protect pipe ends during storage and transportation for industries such as oil & gas, construction, and infrastructure.
As of May 31, 2026, the company had 54 permanent employees and 112 contract workers across its operations.
Dhaval Packaging IPO – Details
| IPO Opening Date | 30 July 2026 |
| IPO Closing Date | 03 August 2026 |
| Issue Type | Book Built Issue IPO |
| Issue Size | Total Issue: 37,48,800 Shares Worth ₹36.36 Crore Fresh Issue: 37,48,800 Shares Worth ₹36.36 Crore |
| Face Value | ₹10 per equity share |
| IPO Price | ₹92 – ₹97 per share |
| Market Lot | 1200 Shares |
| Min Order | 1200 Shares [ 1 Lot ] |
| Listing At | BSE SME |
| Registrar | Kfin Technologies Ltd. |
| QIB Shares Offered | 50% |
| NII Shares Offered | 15% |
| Retail Shares Offered | 35% |
Dhaval Packaging IPO – Date Schedule
| IPO Open Date | 30 July 2026 |
| IPO Close Date | 03 August 2026 |
| Basis of Allotment | 04 August 2026 |
| Initiation of Refund | 05 August 2026 |
| Credit of Shares to Demat | 05 August 2026 |
| IPO Listing Date | 06 August 2026 |
| Cut-off time for UPI mandate confirmation | 5 PM on August 03, 2026 |
Dhaval Packaging IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 2 | 2400 | ₹2,32,800 |
| Retail (Max) | 2 | 2400 | ₹2,32,800 |
| S-HNI (Min) | 3 | 3600 | ₹3,49,200 |
| S-HNI (Max) | 8 | 9600 | ₹9,31,200 |
| B-HNI (Min) | 9 | 10,800 | ₹10,47,600 |
Competitive Strength
- Fully automated in-house IML manufacturing with backward integration.
- Dual product portfolio comprising IML food containers and industrial End Caps.
- Strong customization, tooling, and product development capabilities.
- Long-standing customer relationships backed by experienced promoters and management.
Company Promoters
- Manish Nanalal Dagla
- Dhaval Nanalal Dagla
- Shah Aalpa Dipak
- Jigar Harivadan Contractor
- Jigar Manubhai Shah
Company Financials
| Period | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2024 | ₹48.08 Cr | ₹46.05 Cr | ₹1.55 Cr | ₹19.28 Cr |
| 31 March 2025 | ₹52.43 Cr | ₹44.40 Cr | ₹6.04 Cr | ₹16.55 Cr |
| 31 March 2026 | ₹65.20 Cr | ₹54.48 Cr | ₹8.04 Cr | ₹24.13 Cr |
Key Performance Indicator
| KPI | Values (Mar 31, 2026) |
|---|---|
| ROE | 31.58% |
| ROCE | 22.58% |
| Debt/Equity | 0.78 |
| RoNW | 31.58% |
| PAT Margin | 12.33% |
| EBITDA Margin | 21.41% |
| Price to Book Value | 3.16 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 8.05 | 5.85 |
| P/E (x) | 12.05 | 16.58 |
Object Of The Issue
| Objects of the Issue | Expected Amount (in Crore) |
|---|---|
| Part finance the cost of establishing new manufacturing facility at Plot No. E – 552 in the Sanand – II Industrial Estate, Hirapur, Taluka Sanand, District Ahmedabad (“Proposed facility”). | ₹27.19 |
| Full or part repayment and/or prepayment of certain outstanding secured borrowings availed by the Company. | ₹3.75 |
| General Corporate Purpose. | – |
✅Strengths
- Integrated manufacturing with in-house tooling and label production.
- Diversified packaging products across multiple industries.
- Strong customer base in domestic and export markets.
- Modern manufacturing facilities with automated processes.
⚠️Risks
- Raw material price fluctuations may impact margins.
- Dependence on key customers for revenue.
- Intense competition in the plastic packaging industry.
- Disruption at its Gujarat manufacturing facilities could affect operations.
Dhaval Packaging IPO Promoter Holding
| Pre-Issue Share Holding | 90.86% |
| Post Issue Share Holding | – |
Dhaval Packaging IPO Prospectus
Company Contact Information
| Dhaval Packaging Limited Plot No. E 411, GIDC Sanand, Ahmedabad, Gujarat, 382110 Phone: 9898066258 Email: cs@dhavalpackaging.com Website: https://www.dhavalpackaging.com/ |
Dhaval Packaging IPO Registrar
| Kfin Technologies Ltd. Phone: 040-79615565 Email: dhavalpack.ipo@kfintech.com Website: https://ipostatus.kfintech.com/ |
Dhaval Packaging IPO Lead Manager(s)
| 1. Rarever Financial Advisors Pvt. Ltd. |
Dhaval Packaging IPO FAQ
| What is the Dhaval Packaging IPO? Dhaval Packaging IPO is an SME IPO. The issue is priced at ₹92 – ₹97 per equity share. The IPO is to be listed on BSE SME. |
| When will Dhaval Packaging IPO open? The IPO is to open on 30 July 2026 for QIB, NII, and Retail Investors. |
| What is Dhaval Packaging IPO Investors’ Portion? The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%. |
| What is the Dhaval Packaging IPO Size? Dhaval Packaging IPO size is ₹36.36 Crore. |
| What are the Dhaval Packaging IPO Minimum and Maximum Lot Sizes for Retail Investors? The minimum bid is 2400 Shares for ₹2,32,800, while the maximum bid is 2400 Shares for ₹2,32,800. |
| What is the Dhaval Packaging IPO Allotment Date? Dhaval Packaging IPO allotment date is 04 August 2026. |
| What is the Dhaval Packaging IPO Listing Date? Dhaval Packaging IPO listing date is 06 August 2026. The IPO is to be listed on the BSE SME. |
