Durlax Top Surface Limited, originally incorporated as Durlax Archtech Private Limited on May 3, 2010, is a prominent manufacturer of solid surface materials. The company operates from Vapi with a state-of-the-art facility employing German and South Korean technologies.
They offer their products under two brands: LUXOR® and ASPIRON®. LUXOR® specialises in Acrylic UV Solid Surfaces, while ASPIRON® provides modified solid surfaces. Both brands are celebrated for their aesthetic appeal, seamless designs, and functional properties like antibacterial and fire-retardant features.
The company’s products are distributed across India through a robust network of distributors and direct customers and are also exported to various countries, including Dubai, Qatar, Greece, and Sri Lanka.
Durlax Top Surface Limited caters to a wide range of residential, commercial, hospitality, healthcare, and more sectors, offering solutions for countertops, vanities, office spaces, retail environments, hotels, hospitals, and outdoor projects.
The founders, Shravan Suthar and Lalit Suthar, both certified interior designers, bring extensive expertise to the firm. Together, they drive the company’s mission to fulfill the evolving demands of their customers and enhance various living and professional spaces.
Industry Outlook:
- The global home decor market is projected to grow from US$ 715.4 billion in 2022 to US$ 937.0 billion by 2028, with a CAGR of 4.6%.
- The Indian home furnishings market is expected to increase from INR 48,625 crore in 2022 to INR 78,536 crore by 2028, reflecting an 8.23% CAGR.
Durlax Top Surface Limited IPO Objectives
The company plans to allocate the net proceeds from the issuance to the following purposes:
- Partly finance the working capital requirements;
- General corporate purposes and
- To meet the offer expenses
Peer Details
The companies considered by Durlax Top Surface as its peers include:
- Kaka Industries Limited
- Dhabriya Polywood Limited
- Pokarna Limited
How to Check the Allotment Status of the Durlax Top Surface Limited IPO?
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Contact Details of Durlax Top Surface Limited IPO
- Registered office: 301, Jaisingh Commonspace, Dayal Das Road, FP362, W.E. Highway, Vile Parle (East), Mumbai – 400 057, Maharashtra, India
- Phone: +91-75067 99831
- E-mail:cs@durlaxindia.com
IPO Financials
| Particulars | Year ending on March 31, 2023 | Year ending on March 31, 2022 |
|---|---|---|
| Total Revenue (in ₹ lakh) | 6,684.20 | 4,741.81 |
| Profit After Tax (PAT) (in ₹ lakh) | 262.59 | 80.66 |
| Cash & Cash Equivalents (in ₹ lakh) | 9.48 | 4.77 |
| Net Worth (in ₹ lakh) | 1,726.37 | 1,294.28 |
| Debt to Equity Ratio(x) | 2.14 | 3.04 |
| Return on Equity (%) | 17.39% | 6.43% |
| Return on Capital Employed (RoCE) (%) | 17.70% | 13.58% |
| Earning Per Share (EPS)-in absolute ₹ | 2.20 | 0.68 |
Know before investing
Strengths
6Offering over 100 shades and thicknesses from 4 mm to 20 mm.
Strong presence in Indian and international markets like Dubai, USA, and Thailand.
Wide and diverse product portfolio enhances cross-selling opportunities.
Experienced promoters with 20 years of industry knowledge and growth leadership.
Strategic distribution network across India with over 20 distributors.
Significant sales to distributors, accounting for 67.12% of total sales in FY 2023.
Risks
6Top 10 customers contribute 71.24% of revenue, posing a concentration risk.
No long-term agreements with key suppliers; top 10 provided 84.30% of purchases.
Underutilised production capacity impacts financial performance and growth.
96.98% reliance on domestic market increases vulnerability to local disruptions.
No long-term distributor agreements; 67.12% of sales through distributors.
Contingent liabilities of ₹573.72 lakhs for import duties affect stability.
