Appl Containers IPO

Company Details:-

• Core Business: APPL Containers Limited is a manufacturing company primarily focused on container manufacturing, with its facility located in Bhavnagar, Gujarat.
• Expansion: In Fiscal 2026, the company diversified into container leasing services to provide flexible options for clients.
• Subsidiary: The company acquired Aawadkrupa Plastomech Private Limited on August 14, 2025. This subsidiary designs and manufactures plastic extrusion plants and rope-making machinery.
• Operational Scale: The manufacturing facility is spread over 59,115.09 sq. mt. and has an annual capacity of 15,000 containers.
• Production Milestone: Since its incorporation in 2021, the company has produced a cumulative total of 14,878 containers as of December 24, 2025.

Strengths:-

• Strategic Location: The company is situated in Bhavnagar, Gujarat, which the Indian government is developing as a dedicated production cluster for domestic container manufacturing under the "Make in India" initiative.
• Technological Advancement: The facility features 16 installed robots used in manufacturing processes such as welding and sheet cutting to increase productivity and reduce manpower costs.
• Diversified Product Portfolio: The company offers a wide range of products including standard dry containers (10ft to 40ft), high cubes, and specialized units like Cement Tank, BESS (Battery Energy Storage Systems), and Coil containers.
• Experienced Leadership: The company is led by promoters Hasmukhbhai Meghjibhai Viradiya and Vallabhbhai Meghjibhai Viradiya, who each have over 20 years of experience in the industry.
• Quality Compliance: The company holds various certifications, including ISO 9001:2015 and type approvals from Bureau Veritas for several container models.

Growth and Market Potential:-

• Financial Performance: The company achieved revenue from operations of ₹6,902.56 lakhs in Fiscal 2025, compared to ₹452.84 lakhs in Fiscal 2023, representing a CAGR of 290.43%.
• Transition in Business Model: The company is transitioning from a job-work model (which accounted for 100% of revenue in FY 2023) to direct manufacturing and sales, with direct sales reaching 13.72% of total revenue in FY 2025.
• Order Book: As of December 24, 2025, the company has an order book for 4,705 containers valued at ₹18,059.20 lakhs.
• Market Opportunity: Domestic production in India is expected to grow significantly to reduce dependency on China, which currently supplies nearly 90% of India's container requirements. Forecasts suggest Indian shipping container production could reach 65,942 units by FY 2034.
• Leasing Demand: The Indian container leasing market is projected to grow at a CAGR of 10.7% between FY 2025 and FY 2034, reaching USD 591.0 million.