New Delhi . Shares of Utkal Specialty, a company that manufactures paper products as per the needs of customers, disappointed its IPO investors by making a flat entry in the stock market today. Under the IPO, the company’s shares were issued at a price of Rs 66. Today its listing on NSE’s SME platform took place at the level of Rs 66 without any fluctuations. Due to selling pressure after listing, this share fell to the lower circuit level of Rs 62.70. In this way, the IPO investors of the company suffered a loss of Rs 3.30 per share i.e. five percent in the first day of trading.
Utkal Specialty’s Rs 34.54 crore IPO was open for subscription between June 10 and 12. This IPO received a tepid response from investors, due to which it was subscribed 1.60 times overall. Of these, the reserve portion for Qualified Institutional Buyers (QIB) was subscribed 1.12 times. Whereas the reserve portion for Non-Institutional Investors (NII) received only 0.89 times subscription. Similarly, the reserve portion for retail investors could be subscribed 2.10 times. Under this IPO, 52.34 lakh new shares with face value of Rs 10 have been issued. The company will use the money raised through the IPO to meet working capital requirements and for general corporate purposes.
Talking about the financial condition of the company, as per the claim made in the Draft Red Herring Prospectus (DRHP) submitted to the capital market regulator SEBI, its financial health has continuously strengthened. The company had a net profit of Rs 2.21 crore in the financial year 2022-23, which increased to Rs 3.24 crore in the next financial year 2023-24. In the next financial year 2024-25, the company’s net profit jumped to the level of Rs 6.68 crore. In the last financial year 2025-26 from April to December 31, 2025, the company had made a net profit of Rs 5.48 crore.
During this period the company’s revenue receipts also increased. It received a total revenue of Rs 46.23 crore in the financial year 2022-23, which increased to Rs 44.15 crore in the financial year 2023-24 and jumped to Rs 50.28 crore in the financial year 2024-25. In the last financial year 2025-26, from April to December 31, 2025, the company had received a revenue of Rs 40.90 crore.
During this period, the debt burden on the company continued to increase. At the end of the financial year 2022-23, the company had a debt burden of Rs 25.41 crore, which increased to Rs 25.43 crore in the financial year 2023-24 and reduced to Rs 17.37 crore in the financial year 2024-25. In the last financial year 2025-26, from April to December 31, 2025, the debt burden on the company had reduced to the level of Rs 17.16 crore.
The reserves and surplus of the company also increased during this period. In the financial year 2022-23, it was at the level of Rs 2.07 crore, which increased to Rs 5.30 crore in 2023-24. Similarly, in 2024-25, the reserve and surplus of the company came to the level of Rs 7.34 crore. Whereas in the last financial year 2025-26, from April to December 31, 2025, it reached the level of Rs 12.82 crore.
Similarly, EBITDA (Earnings before Interest, Taxes, Depreciation and Amortization) was at the level of Rs 4.23 crore in 2022-23, which increased to Rs 6.19 crore in 2023-24. Similarly, in 2024-25 the EBITDA of the company came to the level of Rs 9.22 crore. Whereas in the last financial year 2025-26, from April to December 31, 2025, it remained at the level of Rs 7.76 crore.
Comments are closed.