Kasturi Metal Composite IPO

Kasturi Metal Composite manufactures steel fibre used to reinforce concrete, and steel wool fibre used in the friction linings of brake pads and clutches. Its fibre range covers loose hook-end, glued hook-end and flat crimped types, sold under the Duraflex and Durabond brands; it also trades macro synthetic polypropylene fibre as Durocrete. Buyers are construction, engineering, warehousing, logistics, mining, infrastructure and automotive firms, which use the fibre in tunnel shotcrete, precast concrete, industrial and warehouse flooring, roads, pavements and bridges. The company runs three plants in the MIDC industrial area at Amravati, Maharashtra, covering wire drawing and fibre production, and employed 98 permanent staff as of 31 October 2025. A 98%-owned subsidiary, Durafloor Concrete Solution LLP, installs concrete flooring.

Revenue is the sale of steel fibre and wire, overwhelmingly in India: domestic sales were 98.12% of revenue in the six months to 30 September 2025 and 95.44% in FY24. The input is low- and medium-carbon steel wire rod bought from domestic suppliers, so margin turns on the spread between rod cost and fibre price: materials consumed, including stock-in-trade and inventory change, were 50.17% of revenue for that half year, against 52.47% in FY25, 61.81% in FY24 and 66.15% in FY23. Capacity is the other constraint — three Amravati units, with ₹13.29 crore of issue proceeds earmarked for a fourth. The consolidated order book stood at ₹3,752.48 lakh at 31 December 2025.