S.K.Offset IPO

S. K. Offset was incorporated in 2007 and operates mainly from four facilities in Meerut with an aggregate covered area of approximately 38,313 sq. ft. The company provides integrated printing, packaging and labelling solutions, spanning design, pre-press, offset printing, finishing and dispatch. Its products include books and pamphlets, mono and master cartons, rigid boxes, labels, stickers, barcodes and posters.

Printing remained the largest revenue source in FY26 at ₹35.84 crore, or 53.7% of revenue from operations. Packaging contributed ₹26.47 crore (39.7%), labelling ₹3.02 crore (4.5%) and other sales ₹1.34 crore (2.1%). From FY24 to FY26, packaging's share increased from 24.8% to 39.7%, while labelling declined from 16.1% to 4.5%; printing was broadly stable at 54.9% versus 53.7%. Other sales comprise chemicals, ink, plates, scrap and freight on sales.

The company follows a B2B model and supplies corporates in FMCG, pharmaceuticals, cosmetics, food and beverages, publishing and other commercial sectors. B2B sales represented 98.7% of FY26 revenue, B2C sales 1.27% and B2G sales nil. Orders are executed against customer-specific specifications and delivery requirements, with manufacturing activities largely handled in-house.

India generated 98.1% of FY26 revenue; Nepal, Ghana and Canada contributed 1.4%, 0.3% and 0.02%, respectively, taking exports to 1.84%. Uttar Pradesh accounted for 69.4% of total FY26 revenue, down from 89.9% in FY25, while Gujarat and Uttarakhand contributed 10.7% and 8.3%. In FY26, the printing unit produced 1,194,679.86 reams against installed capacity of 1,314,000 reams, implying 90.92% utilisation. The labelling unit produced 19,510 sq. m. against 30,000 sq. m. capacity at 65.03% utilisation. The packaging unit, whose in-house commercial operations began in FY25, produced 7,306,797 cartons against a capacity of 8,212,500 cartons at 88.97% utilisation. A machine commissioned in March 2026 is expected to add 12,000,000 cartons per year from FY27, taking packaging capacity to 20,212,500 cartons.