India’s consumer goods and hospitality sectors continue to witness steady growth, driven by rising disposable incomes, urbanisation, increasing dining culture, and expansion of the hospitality industry. Demand for premium dining products, ceramic tableware, and customised corporate gifting solutions has grown significantly in recent years. Additionally, the rapid expansion of the Hotel, Restaurant, and Catering (HoReCa) sector has created new opportunities for manufacturers offering high quality and innovative tableware products.
Against this backdrop, Clay Craft India Limited is set to open its IPO on June 17, 2026. The company is one of the established players in the bone china crockery and ceramic tableware segment, serving retail consumers, institutional buyers, and hospitality businesses. Here is a detailed insight into Clay Craft India Limited, its IPO, and the industry outlook.
About Clay Craft India Ltd.
Incorporated in July 1994, Clay Craft India Ltd. is engaged in the manufacturing of bone china crockery and ceramic tableware products. The company specialises in premium dining products, including plates, cups, saucers, mugs, and various kitchenware items used across households, hotels, restaurants, and corporate environments.
The company is known for its focus on innovative designs, durability, and product quality. In addition to its retail offerings, Clay Craft provides customised ceramic solutions tailored to the requirements of corporate and institutional clients.
The company has also developed a dedicated product portfolio for the HoReCa (Hotel, Restaurant, and Catering) segment, catering to the operational requirements of hotels, restaurants, cafés, and catering businesses.
As of March 31, 2026, the company offered approximately 5,770 stock keeping units (SKUs) across various product categories and brands. Its key product categories include:
• Dinnerware
• Mugs
• Platters and accessories
• Tea and coffee service sets
• Other ceramic and tableware products
The company had a workforce of over 1,392 employees as of March 31, 2026.
Clay Craft India Ltd. IPO Details
With the IPO launch, Clay Craft India Ltd. intends to utilise the net proceeds primarily towards capacity expansion and business growth.
The company plans to utilise approximately ₹97 crore towards capital expenditure for setting up an additional manufacturing facility at Manda, Rajasthan. The remaining proceeds will be used for general corporate purposes.
The expansion is expected to strengthen the company’s manufacturing capabilities and support future growth in domestic and international markets.
Important IPO Timeline
| Particulars | Details |
|---|---|
| IPO Open Date | June 17, 2026 |
| IPO Close Date | June 19, 2026 |
| Allotment Date (Tentative) | June 22, 2026 |
| Initiation of Refunds | June 23, 2026 |
| Credit of Shares to Demat | June 23, 2026 |
| Listing Date (Tentative) | June 24, 2026 |
Key IPO Details
Here is the table on the Clay Craft India IPO Review:
| Particulars | Details |
|---|---|
| Face Value | ₹10 per share |
| Price Band | ₹193 to ₹203 per share |
| Lot Size | 600 Shares |
| Total Issue Size | 54,24,000 shares (aggregating up to ₹110.11 Cr) |
| Fresh Issue | 54,24,000 shares (aggregating up to ₹110.11 Cr) |
| Fresh Issue (Ex Market Maker) | 51,51,600 shares (aggregating up to ₹104.58 Cr) |
| Net Offered to Public | 51,51,600 shares (aggregating up to ₹104.58 Cr) |
| Reserved for Market Maker | 2,72,400 shares (aggregating up to ₹5.53 Cr) |
| Issue Type | Bookbuilding IPO |
| Sale Type | Fresh Capital Only |
| Listing At | NSE SME |
| Market Capitalisation (Pre IPO) | ₹417.58 Cr |
| Shareholding Pre Issue | 1,51,46,280 shares |
| Shareholding Post Issue | 2,05,70,280 shares |
| Book Running Lead Manager | Hem Securities Ltd. |
| Registrar | Kfin Technologies Ltd. |
| Market Maker | Hem Finlease Pvt. Ltd. |
Lot Size of Clay Craft India IPO
Here is the table of lot sizes for each category of investors:
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual Investors (Min) | 2 | 1,200 | ₹2,43,600 |
| Individual Investors (Max) | 2 | 1,200 | ₹2,43,600 |
| S HNI (Min) | 3 | 1,800 | ₹3,65,400 |
| S HNI (Max) | 8 | 4,800 | ₹9,74,400 |
| B HNI (Min) | 9 | 5,400 | ₹10,96,200 |
Clay Craft India Ltd. Financials
The Clay Craft India IPO has a market capitalisation of ₹417.58 crore. As of March 31, 2026, its key performance indicators showcase a Return on Equity (ROE) of 17.71% and a Return on Capital Employed (ROCE) of 18.26%. The Return on Net Worth (RoNW) stood at 16.27%, while the company reported a PAT margin of 15.02% and an EBITDA margin of 23.33%.
The company has demonstrated strong growth in recent years. Revenue increased by 20%, while Profit After Tax grew by 30% between FY25 and FY26, reflecting improved operational performance and profitability.
Other financial details of the company include the following:
Key Company Financials
| Period Ended | 31 Mar 2026 (Crores) | 31 Mar 2025 (Crores) | 31 Mar 2024 (Crores) |
|---|---|---|---|
| Assets | ₹251.95 | ₹217.39 | ₹188.67 |
| Total Income | ₹184.57 | ₹154.44 | ₹146.99 |
| Profit After Tax | ₹27.01 | ₹20.76 | ₹13.50 |
| EBITDA | ₹41.96 | ₹35.39 | ₹28.65 |
| Net Worth | ₹166.06 | ₹139.05 | ₹117.01 |
| Reserves and Surplus | ₹150.92 | ₹134.00 | ₹112.12 |
| Total Borrowing | ₹49.98 | ₹47.75 | ₹46.80 |
Clay Craft India Ltd.: Industry Outlook
• India’s organised tableware and kitchenware market continues to expand due to rising disposable incomes and changing consumer lifestyles.
• Growth in the hospitality sector, including hotels, restaurants, cafés, and catering services, is increasing demand for premium ceramic tableware products.
• Corporate gifting and customised dining products are becoming an important growth segment for ceramic manufacturers.
• Increasing urbanisation and rising aspirations among consumers are driving demand for aesthetically designed and durable dining products.
• The organised ceramic tableware market continues to benefit from brand recognition, product innovation, and distribution network advantages.
• Clay Craft India’s diversified product portfolio, extensive SKU range, integrated manufacturing capabilities, and strong distribution presence position it to benefit from these industry trends.
Conclusion
Clay Craft India Ltd. presents an interesting investment opportunity because of its established presence in the bone china crockery and ceramic tableware industry. The company serves retail consumers, hospitality businesses, and institutional clients through a diversified product portfolio and strong manufacturing capabilities.
The company has demonstrated healthy revenue growth and profitability improvement in recent years. Furthermore, the proposed expansion through a new manufacturing facility at Manda, Rajasthan, could support future capacity growth and market expansion.
However, potential investors should consider risks such as intense competition within the ceramic tableware industry, changing consumer preferences, raw material cost fluctuations, and the sustainability of recent profit growth. As with any SME IPO, investors should carefully evaluate their risk appetite and investment horizon before making an investment decision.
