Maharaja & Speedex India Limited

Maharaja & Speedex India is a company involved in the production and distribution of drinkware, with specialisation in stainless steel water bottles and allied products catering to both the retail and institutional markets in India.

There are two categories of products offered by the company, including standard products and novelty products with varied price points ranging from mass, premium to lifestyle products.

The process of manufacture is done through its subsidiary company named Dewdrop Bottles Private Limited, with two plants in Sonipat, Haryana, having an installed capacity of ~45.24 lakh units per annum, manufacturing 223 SKUs. Its distribution network includes 101 distributors spread across 17 states and two union territories in India. The utilisation of the installed capacity stood at 88.4% in FY26 compared to 77.5% in FY25.

In FY26, revenue from manufacturing was 88.8% of the total mix, and that from outsourcing amounted to 11.1%. Among products, Standard Sales generated 76.4% of total revenue, whereas novelty sales generated 19.8%. With respect to business models, revenue from OEM business was 54.8%, and that from branded business was 41.8%. Revenue from offline business was 90.1% in FY26, and that from online business was 9.9% of the total revenue in FY26. The top 10 clients constituted 48.7% of FY26 sales, and the top 10 suppliers made up 87.3% of the purchases in FY26.