RFBL Flexi Pack IPO

Incorporated in 2005, RFBL Flexi Pack mainly manufactures and trades printed multilayer flexible packaging materials. These materials include a variety of plastic film rolls and pouches, woven fabric packaging material and polyester laminated films and any scrap created through manufacturing has been sold to other companies as raw materials for reuse. The company operates on a B2B business model, catering to customers requiring high-quality and customised packaging solutions.

The primary raw materials used to manufacture these goods include CPP films, CPE films, BOPP Films, metallised films, laminated films, adhesive materials, and ink; all these come from established suppliers within the country. The company's manufacturing operation is located in the state of Gujarat and near the Rajasthan and Gujarat borders, which is advantageous for logistical purposes.

Around 99.2% of revenue during the period ending on November 30, 2025, came from repeat customers. Manufacturing contributed 88.02% in FY23, but dropped to 37.63% as of November 30, 2025. Conversely, trading revenue increased to 62.37% from 11.98% in FY23. From a geographic standpoint, Gujarat contributed 100% of sales as of November 30, 2025. Previously, in FY24, the state of Rajasthan represented up to 8.99% of total sales. The company’s top customer made up 44.08% of sales during the November 30, 2025, period, while the top 5 customers together contributed 93.85%.