Mumbai: Euro Panel Products Ltd, the parent company behind EUROBOND – one of the leading Metal Composite Panel Brands in India, today announced its strategic move to migrate from the NSE Emerge, the SME platform of the National Stock Exchange, to the mainboard of both NSE and BSE. This marks a significant milestone in the brand’s journey, as Euro Panel Products Ltd became the first ACP manufacturing firm in India to be publicly listed on the mainboard of both NSE and BSE.
Euro Panel Products Ltd was the first Indian ACP manufacturer to go public in December 2021, with an IPO issue price of INR 70. Since then, Eurobond (call sign) has made significant returns, making over 178% returns to its investors. With tremendous potential with its robust growth in YoY financials, the future projections remain bright, and the migration to the NSE opens up numerous doors for the firm. As per Grant Thornton data, India’s facade materials industry is growing at a CAGR of 7.3% , while the organised sector is growing at a 20% higher rate. This highlights that the scope for investing in the industry is at a high level, with Eurobond being the only publicly listed company in the sector.
Speaking on the development, Mr. Rajesh Shah, Managing Director of Euro Panel Products Limited, said, “This moment marks a significant milestone in our journey. Since listing on the SME board, we have worked with a clear vision — to one day stand on the mainboard with the highest standards of transparency, governance, and shareholder value. Today, that vision takes a tangible leap forward. A quote that resonates deeply with me is, ‘We’re not here to sell shares, we’re here to share a vision’ — and that vision is of building a globally respected Indian brand in facade solutions, rooted in innovation and trust. We have continued to invest in forward-looking initiatives aimed at scaling operations, improving efficiency, and reducing our environmental footprint. With exciting developments ahead, the road forward is full of potential. I extend my deepest gratitude to our employees, channel partners, and investors who have been pillars of strength in this journey. We look forward to scaling greater heights, together.”
The Mumbai-headquartered company continues to push forward with ambitious expansion plans. In the current financial year, Euro Panel Products Ltd is executing a major backward integration with the installation of a second coating line to optimise operations further. Additionally, the company is replacing an existing production line with a next-gen manufacturing line, which will increase its daily capacity from 25,000 to 27,000 square meters of panels daily.
As part of its broader sustainability and ESG agenda, the company is in the process of establishing a 2.2 MW ground-mounted solar power project. Once operational, the project is expected to offset nearly 50% of the factory’s energy consumption with clean, renewable energy — a key step towards a greener future.
The firm recently announced its half-yearly and year-to-date earnings in May 2025, revealing a 26% rise in PAT to INR 18 Crore in FY 24-25. The company achieved this significant increase in PAT through strategic business optimisations, including the backwards integration of a cutting-edge, India’s most advanced continuous “3Coat 2Bake” coating line. The company’s exchange filing also revealed that the firm’s product sales in FY 24-25 stood at INR 423 Crore, an approximately 7% increase as compared to the previous FY. Additionally, the PAT also highlighted the company’s highest-ever net profit with a 36% compound profit growth in the last 5 years.
Driven by a robust management team led by Mr. Rajesh Shah, Euro Panel Products Ltd is poised for significant growth in the coming years, driven by product innovations and international collaborations, like the company’s exclusive collaboration with RHEINZINK. The company also has a global presence across 20 countries, including the USA, Bhutan, Brazil, Cameroon, Dubai, Egypt, Guatemala, Kenya, Nepal, Oman, Qatar, Sri Lanka, Turkey, Uganda, Bahrain and Montenegro, while also working to increase its international footprint. International collaborations and product innovations are expected to accelerate Euro Panel Products Ltd’s long-term growth, further bolstering its standing among peers and in the capital market.