Ganga Bath Fittings Limited, founded in 2018, is a leading manufacturer and exporter of bathroom accessories and fittings, including CP taps, showers, sanitary ware, and related products under brands like Ganga, Glimpse, Stepian, and Tora. The company also undertakes contract manufacturing for other brands and emphasizes quality with modern production facilities. The Ganga Bath Fittings IPO opens on June 4 and closes on June 6, 2025, with a price band of ₹46 – ₹49 per share and an issue size of approximately ₹32.65 crore.
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Expert Opinions
The market sentiment for Ganga Bath Fittings IPO is generally positive, reflecting interest in the company’s growth within the expanding home improvement and construction sector. The company’s strengths include a diversified product portfolio, modern manufacturing facilities, and a focus on quality control and customization, which have helped it build a reputable brand presence. The company’s revenue grew from ₹22.34 crore in FY2022 to ₹32.01 crore in FY2024, with net profit surging from ₹0.21 crore to ₹2.48 crore during the same period, reflecting operational improvements and market penetration.
For FY2024, Ganga Bath Fittings Ltd., ahead of its much-anticipated Ganga Bath Fittings IPO, posted a Return on Equity (ROE) of 15.07%, Return on Capital Employed (ROCE) of 29.80%, and a Net Asset Value (NAV) of ₹16.61, indicating solid capital efficiency and prudent financial management. However, risks remain from intense competition, raw material price fluctuations, and the need to maintain high product standards in a fragmented market. From a long-term investment perspective, the company’s emphasis on innovation and expansion could drive sustained growth, but investors should monitor execution risks and sector volatility as the business scales.
Investor Considerations
Ganga Bath Fittings IPO has demonstrated improving fundamentals, with FY2024 revenue rising to ₹32.01 crore and net profit increasing to ₹2.48 crore, reflecting enhanced operational efficiency and business consolidation. The Indian sanitary ware and bath fittings sector is poised for robust growth, driven by urbanization, rising disposable incomes, and government infrastructure initiatives, with the market projected to expand at a 6.70% CAGR through 2033. The Ganga Bath Fittings IPO is valued at a Price to Book Value of 2.95, with a PAT margin of 9.96% and a moderate debt/equity ratio of 0.87, indicating balanced leverage and profitability.
Growth prospects are strong due to planned capacity expansion and the company’s focus on product customization and contract manufacturing for established brands. However, investors should consider risks such as raw material price volatility, high trade receivables, and intense competition in a fragmented market. Short-term investors may face price fluctuations, while long-term investors could benefit if the company sustains growth and manages sector challenges effectively.
| Date | GMP | Trend |
|---|---|---|
| 10 Jun 2025 11.25 | ₹00 | --- |
| 09 Jun 2025 11.08 | ₹00 | --- |
| 08 Jun 2025 11.44 | ₹00 | --- |
| 07 Jun 2025 10.38 | ₹00 | --- |
| 05 Jun 2025 18.25 | ₹00 | Down |
| 04 Jun 2025 18.11 | ₹3 | Up |
| 03 Jun 2025 18.53 | ₹1 | Up |
| 02 Jun 2025 11.00 | ₹00 | --- |
| 31 May 2025 11.42 | ₹00 | --- |
FAQs
The Grey Market Premium showed poor accuracy in predicting Ganga Bath Fittings IPO’s listing performance. While the GMP of ₹0 suggested a flat listing at the issue price, the stock delivered a significant gain of 20.41%. With a substantial prediction error of 20.41%, the GMP completely failed to anticipate the strong positive market sentiment and listing gains, demonstrating its unreliability as a price predictor in this case.
Ganga Bath Fittings IPO Current GMP is ₹00.
Ganga Bath Fittings IPO Expected Returns is 0.00%.
Ganga Bath Fittings IPO estimated listing price is ₹49.