Kanishk Aluminium India Limited is engaged in the manufacturing of aluminium products, primarily aluminium extrusions, catering to industrial and infrastructure applications. The company generates revenue through the manufacture and sale of aluminium profiles used in construction, electrical, transportation and general engineering sectors. Its business model focuses on customised aluminium solutions supplied to B2B customers, supported by in-house manufacturing and quality control facilities.

Key Clients and Manufacturing Facilities

The company primarily serves domestic industrial customers across construction, fabrication and engineering segments. Its manufacturing facility is located at RIICO Industrial Area, Boranada, Jodhpur, Rajasthan. The facility is equipped with aluminium processing and extrusion infrastructure, enabling efficient production, consistency in quality and timely execution of orders while supporting scalability for future growth.

Product Portfolio and Order Book Execution

Kanishk Aluminium’s product portfolio mainly comprises aluminium extrusions used across various stages of clients’ product life cycles, from structural fabrication to finished applications. These products support durability, weight reduction and corrosion resistance for customers. Orders are typically executed on a project or repeat-order basis, with execution dependent on raw material availability, production scheduling and timely dispatch from its Jodhpur facility.

Mergers, Capex and Expansion Plans

The company has not undertaken any major mergers as per the prospectus. The IPO is a fresh issue of ₹2,920.00 lakhs, and proceeds are intended to support business growth, working capital requirements and potential capacity expansion. Future capex plans focus on strengthening manufacturing capabilities and improving operational efficiency to meet rising demand in aluminium-based applications.

Employees and Banker Details

As on November 30, 2025, the company had 46 full time employees. The Banker to the Company is Union Bank of India.

Management and Growth Vision

The promoters, Mr. Parmanand Agarwal, Mr. Ashish Agarwal and Mrs. Khushboo Agarwal, bring experience in the aluminium and manufacturing sector. Management’s vision is to scale operations through capacity enhancement, operational efficiency and customer diversification. In the near term, growth is expected from increased utilisation of existing facilities, while long-term targets include expanding product offerings. Funds for capex and expansion are planned to be arranged primarily through IPO proceeds, internal accruals and banking support.

Industry Overview

Kanishk Aluminium operates within the aluminium extrusion and aluminium products industry, which is linked to infrastructure, construction, electrical and industrial manufacturing. The Indian aluminium industry benefits from infrastructure spending and urbanisation, while globally aluminium demand is driven by lightweight materials and sustainability trends. Industry growth is supported by steady demand from construction and engineering sectors, with established domestic and global players leading capacity and technology adoption.

Key Risk Factors

1. Raw Material Price Volatility
   Aluminium prices are subject to global commodity cycles. Any sharp fluctuation in raw material costs may impact margins if price increases cannot be passed on to customers in a timely manner.
2. Customer Concentration Risk
   A significant portion of revenue may be derived from a limited number of customers. Loss of key clients or reduced order volumes could adversely affect revenue stability and cash flows.
3. Operational and Manufacturing Risks
   Manufacturing operations are exposed to risks such as equipment breakdowns, labour issues and production inefficiencies, which may lead to delays in order execution and higher operating costs.
4. Working Capital Intensive Business
   The aluminium business requires high working capital due to inventory and receivables. Any mismatch in cash flows could affect day-to-day operations and growth plans.
5. Competition Risk
   The aluminium extrusion industry is competitive with several organised and unorganised players. Increased competition may lead to pricing pressure and margin contraction.
6. Regulatory and Compliance Risk
   The company operates under various environmental, safety and industrial regulations. Any non-compliance or change in regulatory norms could increase compliance costs or disrupt operations.

Key Strengths, Moat and Opportunities

1. Established Manufacturing Facility
   The company’s RIICO Boranada facility provides operational stability and the ability to serve customers efficiently, forming a strong base for scalable production and future expansion.
2. Experienced Promoter Group
   Promoters with industry experience support strategic decision-making, vendor relationships and customer acquisition, helping the company navigate cyclical industry challenges.
3. Growing Demand for Aluminium Products
   Rising infrastructure and construction activity in India creates sustained demand for aluminium extrusions, offering growth opportunities for established domestic manufacturers.
4. Focus on B2B Customised Solutions
   The ability to provide customised aluminium profiles helps the company build long-term client relationships and reduces direct price-based competition.
5. IPO-led Balance Sheet Strengthening
   The fresh issue of ₹2,920.00 lakhs is expected to improve liquidity, support working capital needs and enable capacity enhancement, strengthening the company’s financial position.
6. Scope for Capacity Expansion
   With improving demand outlook, the company has opportunities to expand production capacity and broaden its product range to cater to diversified end-use industries.

Kanishk Aluminium India Limited is engaged in the manufacturing of aluminium products, primarily aluminium extrusions, catering to industrial and infrastructure applications. The company generates revenue through the manufacture and sale of aluminium profiles used in construction, electrical, transportation and general engineering sectors. Its business model focuses on customised aluminium solutions supplied to B2B customers, supported by in-house manufacturing and quality control facilities.

Key Clients and Manufacturing Facilities

The company primarily serves domestic industrial customers across construction, fabrication and engineering segments. Its manufacturing facility is located at RIICO Industrial Area, Boranada, Jodhpur, Rajasthan. The facility is equipped with aluminium processing and extrusion infrastructure, enabling efficient production, consistency in quality and timely execution of orders while supporting scalability for future growth.

Product Portfolio and Order Book Execution

Kanishk Aluminium’s product portfolio mainly comprises aluminium extrusions used across various stages of clients’ product life cycles, from structural fabrication to finished applications. These products support durability, weight reduction and corrosion resistance for customers. Orders are typically executed on a project or repeat-order basis, with execution dependent on raw material availability, production scheduling and timely dispatch from its Jodhpur facility.

Mergers, Capex and Expansion Plans

The company has not undertaken any major mergers as per the prospectus. The IPO is a fresh issue of ₹2,920.00 lakhs, and proceeds are intended to support business growth, working capital requirements and potential capacity expansion. Future capex plans focus on strengthening manufacturing capabilities and improving operational efficiency to meet rising demand in aluminium-based applications.

Employees and Banker Details

As on November 30, 2025, the company had 46 full time employees. The Banker to the Company is Union Bank of India.

Management and Growth Vision

The promoters, Mr. Parmanand Agarwal, Mr. Ashish Agarwal and Mrs. Khushboo Agarwal, bring experience in the aluminium and manufacturing sector. Management’s vision is to scale operations through capacity enhancement, operational efficiency and customer diversification. In the near term, growth is expected from increased utilisation of existing facilities, while long-term targets include expanding product offerings. Funds for capex and expansion are planned to be arranged primarily through IPO proceeds, internal accruals and banking support.

Industry Overview

Kanishk Aluminium operates within the aluminium extrusion and aluminium products industry, which is linked to infrastructure, construction, electrical and industrial manufacturing. The Indian aluminium industry benefits from infrastructure spending and urbanisation, while globally aluminium demand is driven by lightweight materials and sustainability trends. Industry growth is supported by steady demand from construction and engineering sectors, with established domestic and global players leading capacity and technology adoption.

Key Risk Factors

1. Raw Material Price Volatility
   Aluminium prices are subject to global commodity cycles. Any sharp fluctuation in raw material costs may impact margins if price increases cannot be passed on to customers in a timely manner.
2. Customer Concentration Risk
   A significant portion of revenue may be derived from a limited number of customers. Loss of key clients or reduced order volumes could adversely affect revenue stability and cash flows.
3. Operational and Manufacturing Risks
   Manufacturing operations are exposed to risks such as equipment breakdowns, labour issues and production inefficiencies, which may lead to delays in order execution and higher operating costs.
4. Working Capital Intensive Business
   The aluminium business requires high working capital due to inventory and receivables. Any mismatch in cash flows could affect day-to-day operations and growth plans.
5. Competition Risk
   The aluminium extrusion industry is competitive with several organised and unorganised players. Increased competition may lead to pricing pressure and margin contraction.
6. Regulatory and Compliance Risk
   The company operates under various environmental, safety and industrial regulations. Any non-compliance or change in regulatory norms could increase compliance costs or disrupt operations.

Key Strengths, Moat and Opportunities

1. Established Manufacturing Facility
   The company’s RIICO Boranada facility provides operational stability and the ability to serve customers efficiently, forming a strong base for scalable production and future expansion.
2. Experienced Promoter Group
   Promoters with industry experience support strategic decision-making, vendor relationships and customer acquisition, helping the company navigate cyclical industry challenges.
3. Growing Demand for Aluminium Products
   Rising infrastructure and construction activity in India creates sustained demand for aluminium extrusions, offering growth opportunities for established domestic manufacturers.
4. Focus on B2B Customised Solutions
   The ability to provide customised aluminium profiles helps the company build long-term client relationships and reduces direct price-based competition.
5. IPO-led Balance Sheet Strengthening
   The fresh issue of ₹2,920.00 lakhs is expected to improve liquidity, support working capital needs and enable capacity enhancement, strengthening the company’s financial position.
6. Scope for Capacity Expansion
   With improving demand outlook, the company has opportunities to expand production capacity and broaden its product range to cater to diversified end-use industries.