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Phychem Technologies operates in the niche segment of rotational moulding compounds, a market driven by demand for specialized plastic products in sectors like storage, industrial containers, and automotive. The company’s diversification into custom-moulded tanks and related services provides multiple revenue streams. Key risk factors may include dependence on raw material prices (polyethylene), competition within the specialty chemical and plastic compound industry, and fluctuations in global demand for its export markets. The company’s financial performance indicates a positive growth trajectory, with increasing revenue, profitability, and improving margins. The decreasing debt-to-equity ratio suggests a strengthening balance sheet. However, as an SME IPO, investors should consider the inherent volatility and liquidity risks associated with smaller listed entities. The company’s stated capacities and utilization rates will be crucial indicators of its ability to scale operations to meet future demand.
Nashik-based Phychem Technologies, a manufacturer of rotational moulding compounds, is set to launch its Small and Medium Enterprise (SME) Initial Public Offering (IPO). The IPO will open for subscription on August 31 and close on September 2, 2026, with an issue price band of INR 51 to INR 54 per share. The total IPO size is approximately INR 13.77 crore to INR 14.58 crore, comprising a fresh issue of 27,00,000 equity shares. There is no Offer for Sale component in this issue.
The company specializes in polyethylene-based materials crucial for producing hollow plastic products. Its product portfolio includes color powders, stone-effect compounds, PE foam compounds, Super Tuff HDPE, flexible, antistatic, and flame-retardant compounds, as well as rotolining compounds. These materials find applications in water, fuel, and chemical storage tanks, portable sanitation units, industrial containers, furniture, automotive components, and other custom moulded items.
Phychem Technologies also engages in manufacturing custom-moulded tanks and offers rotolining and toll-pulverising services. Additionally, it distributes chemicals, compounds, process-control equipment, and ancillary tools. The company operates a manufacturing facility in Nashik equipped with three rotational moulding machines and in-house quality control. In FY2026, its roto moulding compound capacity stood at 6,000 MT annually, with a production of 3,927 MT, achieving 65.45% utilization. Custom-moulded tank capacity was 2,000 tanks, with 91.45% utilization.
The company reported a diversified customer base, serving approximately 265 domestic and 24 global clients in FY2026, with exports reaching 21 countries. Export revenue constituted 23.32% of the total revenue in FY2026. As of June 30, 2026, Phychem Technologies had 33 permanent employees.
Financially, Phychem Technologies has demonstrated growth. Revenue increased from INR 46.97 crore in FY2024 to INR 56.47 crore in FY2026. Net income saw a rise from INR 1.69 crore in FY2024 to INR 4.09 crore in FY2026, with margins improving from 3.60% to 7.24% over the same period. Earnings Per Share (EPS) grew from INR 2.25 in FY2024 to INR 5.42 in FY2026 (pre-issue). The Debt-to-Equity ratio has shown a downward trend, from 0.82 in FY2024 to 0.43 in FY2026.
The promoters of Phychem Technologies are Umakant Savadekar, Ulka Umakant Savadekar, Nivrutti Sonu Savdekar, and Vijaya Nivrutti Savdekar. The IPO is being managed by HEM SECURITIES LIMITED, and MUFG INTIME INDIA PRIVATE LIMITED is the registrar.
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