Speb Adhesives Ltd. · NSE:SPEB
Speb Adhesives — Investor Presentation (May 2026)
34 slides from Speb Adhesives's investor presentation, May 19, 2026
Slide 1: Submission of Investor Presentation to NSE
Date: 19th May, 2026 To, The Listing Department National Stock Exchange of India Limited Exchange Plaza, C-1, Block G, Bandra Kurla Complex, Bandra (E), Mumbai — 400051 India NSE Symbol: SPEB Subject: Submission of Investor Presentation Dear Sir/Madam, This has reference to Regulation 30(6) read wit
Slide 2: SPEB Adhesives Ltd Investor Presentation May 2026
SPEB ADHESIVES LTD Investor Presentation May 2026
Slide 3: Introduction
INTRODUCTION Established in 1972 and incorporated in 1990, with over 40 years of industry experience. Engaged in the manufacturing of synthetic rubber–based Dealer– adhesives, with a primary focus on solvent-based adhesive Synthetic Resin Distributor solutions. Network Water-based Offers both solven
Slide 4: Business Model
BUSINESS MODEL 01 02 Go-to-Market & Customers Manufacturing & Products • In-house manufacturing of solvent-based • B2B-focused sales model across synthetic rubber adhesives • Industrial applications • Specialized in Polychloroprene & SBS-based • Gradual D2R (Direct-to-Retailer) rollout through formu
Slide 5: Industry Mix & Manufacturing Split
INDUSTRY MIX & MANUFACTURING SPLIT Industry wise bifurcation 0.84% 0.48% 5.54% 3.41% 33.51% 56.23% Hardware Woodworking Foam and Furnishing Footwear Ducting and Insulation Generator Set Investor Presentation 3
Slide 6: Industry Mix & Manufacturing Split
INDUSTRY MIX & MANUFACTURING SPLIT Inhouse and Contract Manufacturing Revenue Breakup (In ₹ Lakhs) Fiscal 2026 % of Fiscal 2025 Fiscal 2024 Fiscal 2023 % of Revenue % of Revenue % of Revenue Revenue Revenue Revenue Revenue Revenue In-house manufacturing – 4,974.57 97.85% 4,470.67 99.81% 4,247.23 99.
Slide 7: Industry Wise Products 1/5
INDUSTRY WISE PRODUCTS 1/5 Upholstery Adhesive Application Our flagship upholstery brush adhesive offers ideal viscosity and coverage for foam, wood, rexine, and leather bonding. With high initial grab, low odour, strong heat resistance, and fast setting, it ensures reliable performance for curved s
Slide 8: Industry Wise Products 2/5
INDUSTRY WISE PRODUCTS 2/5 Flooring, Carpet and Wallpaper Adhesive Application Engineered with ideal viscosity and optimal coverage, this adhesive ensures strong and uniform bonding across foam, wood, rexine, and leather surfaces. Designed to perform reliably in high-temperature environments, it del
Slide 9: Industry Wise Products 3/5
INDUSTRY WISE PRODUCTS 3/5 HVAC and GenSet Adhesive Application Engineered for HVAC duct fabrication, chilled water piping insulation, -Ducting and and silent genset enclosures, this adhesive delivers fast drying, high Insulation coverage, and strong bonding under pressure. With high solid content,
Slide 10: Industry Wise Products 4/5
INDUSTRY WISE PRODUCTS 4/5 Wood Working Adhesive Application Our Wood Working Adhesives range is engineered for strength and durability across interior and exterior applications. It includes high heat- resistant (up to 170°C) synthetic rubber adhesives for laminates on plywood, MDF, and HDF—ideal fo
Slide 11: Industry Wise Products 5/5
INDUSTRY WISE PRODUCTS 5/5 Automotive Adhesive Application Automotive adhesives are used in vehicle manufacturing to bond metal, plastic, glass, and composite parts. They enhance strength, durability, vibration resistance, and corrosion protection while supporting -Roof panels lightweight design and
Slide 12: Existing Manufacturing Facility
EXISTING MANUFACTURING FACILITY Taloja, District Raigad, Panvel, Maharashtra Serving 500+ Industrial Customers 2,366 across India 3,600 tons Sq.mt. Capacity 40+ Years Of Industry Expertise 79.60% Utilization (%) In-house R&D Solvent Based Adhesives In-house Manufacturing ISO - Certified Investor Pre
Slide 13: Capacity Expansion
CAPACITY EXPANSION Manufacturing Capabilities 137% Capacity Growth Combined Capacity of Water Based & Solvent 4,950 Based Adhesives tons 8,550 Solvent Based Adhesives Only tons 3,600 tons FY25 CY26 Strengthening Manufacturing Footprint Total Land Area of 16,193 sq. mt. facility Initial capacity util
Slide 14: Growth Triggers
GROWTH TRIGGERS Diversification Across End-User Industries Broadening presence across Rising Domestic Manufacturing & Import key industries. Substitution Leveraging India’s manufacturing and Capacity Expansion & Backward infrastructure growth. Integration Increasing capacity to boost volumes and imp
Slide 15: Way Forward
WAY FORWARD EBITDA Margins 20% 17.87% In-House Expansion of 17.30% New Expansion into Water-Based Strengthening International Manufacturing Adjacent Adhesive Export & Domestic Facility at Adhesive Manufacturing Capabilities Distribution Khalapur Segments Network 5056.83 4486.52 Khalapur plant 4,950
Slide 16: SPEB Advantage
SPEB ADVANTAGE Established Adhesives Player with Decades of Experience Operating since 1990, SPEB has built strong technical know-how and long-standing customer relationships in the synthetic rubber adhesive segment Low Working Capital Intensity Efficient inventory management and timely receivables
Slide 17: Geographic Presence
GEOGRAPHIC PRESENCE Customer Segment wise bifurcation Dealer–Distributor Network 8% Industrial Sales 0.57% Government Supply Contracts Uttar Pradesh Exports 1.29% 16.41% 75.01% Gujarat Madhya Pradesh 11.52% 0.19% Domestic and International revenue bifurcation 8% Maharashtra 63.74% Telangana 1.07% Do
Slide 18: Solvent-Based vs Water-Based Adhesives
SOLVENT-BASED vs WATER-BASED ADHESIVES SOLVENT-BASED ADHESIVES VERSUS WATER-BASED ADHESIVES Synthetic rubber + solvents 01 Composition 01 Water-based polymers Superior bonding strength 02 Bonding Feel 02 Flexible bond Strong, durable finish Finish & 03 03 Clean, low odour Appearance High VOC 04 Envi
Slide 19: Our Journey
OUR JOURNEY 1972- The SPEB brand (“Super 2006- Commissioned an 2020-21- Introduced synthetic resin Perfect Everlasting Bond”) was automated packaging line to adhesives and specialized grades like founded, rooted in pioneering enhance efficiency and scale HEATFIX for advanced applications. synthetic
Slide 20: Manufacturing Process
MANUFACTURING PROCESS Procure Raw Pack final product using Seaming Transfer RM to Stirrer for Transfer finished products from Materials (RM) Machine connected to Holding processing Stirrer to Holding Tank Tank 01 02 03 04 Underground storage tanks Stirrer Holding Tanks Product filling Packaging Labe
Slide 21: Online Market Places
ONLINE MARKET PLACES • The Company has established a presence across leading online marketplaces to enhance digital reach and customer accessibility. • Online platforms enable lead generation, order visibility, and faster customer onboarding with minimal incremental cost. • These marketplaces comple
Slide 22: Industry Overview
INDUSTRY OVERVIEW Global Synthetic Rubber–Based Adhesives Market Indian Synthetic Rubber–Based Adhesives Market • The global synthetic rubber–based adhesives market is • The Indian synthetic rubber–based adhesives market was estimated at USD 18–22 billion in CY2024. valued at approximately ₹15,000–₹
Slide 23: Management Commentary
MANAGEMENT COMMENTARY Over the past three decades, SPEB Adhesives has pursued a singular objective: to be the most trusted name in Adhesives in India. The last four years have turned that conviction into hard proof. Revenue has climbed from ₹27.9 crore in FY22 to ₹50.57 crore in FY26. Operating marg
Slide 24: Board of Directors
BOARD OF DIRECTORS Gaurav Vithlani Kirtikumar Vithlani Harish Vithlani Bhaumik Vithlani Managing Director Chairman & Whole-Time Director Executive Director Executive Director 25+ Years of Experience 40+ Years of Experience 40+ Years of Experience 20+ Years of Experience A Bachelor of Legal Associate
Slide 25: Board of Directors
BOARD OF DIRECTORS Sartaj Singh Kajal Pandya Dhaval Mehta Chiraj Shah Independent Director Independent Director Independent Director Independent Director Engineering & Public Education & Institutional Wealth Management Distribution & Supply Chain Sector Leadership Leadership Expert Professional Spec
Slide 26: Events: Listing Ceremony on NSE Emerge
EVENTS Listing Ceremony on NSE Emerge 8th December, 2025 Speb Adhesives Limited successfully lists on NSE Emerge with a ₹33.73 Cr public issue, marking a new era of growth and public trust Investor Presentation 24
Slide 27: Events: WOFX World Furniture Expo
EVENTS WOFX - World Furniture Expo Leadership Team 4th - 6th December, 2025 WOFX 2025 provided us with a meaningful platform to connect, collaborate, exchange ideas, and build lasting relationships within the furniture ecosystem Investor Presentation 25
Slide 28: Events: India Mattresstech Expo 2026
EVENTS India Mattresstech Expo 2026 3rd - 6th March, 2026 India Mattresstech Expo 2026 was an opportunity for us to build meaningful connections and engage in insightful conversations. Investor Presentation 26
Slide 29: Vision & Mission
VISION & MISSION Our Vision To be one of the most trusted & innovative adhesive manufacturers globally, setting benchmarks in quality & sustainability through our brand SPEB-7 ADHESIVE. With our focus on manufacturing adhesive for the Furnishing & Furniture Segment, we look forward to being a truste
Slide 30: Key Financial Ratios
KEY FINANCIAL RATIOS 0.00 14.43x 12.31% 16.64 % Net Debt Asset Turnover ROE ROCE 79.60 % 17.87% 13.58% 2866 MT Utilization OPM% PAT% Production Volumes As on March 2026 Investor Presentation 28
Slide 31: Profit and Loss
PROFIT AND LOSS (In ₹ Lakhs.) Particulars H2FY26 FY26 FY25 Y-O-Y Revenue from Operations 2579.97 5056.83 4486.52 12.71% Cost of Materials 1928.58 3264.89 3053.59 - Consumed Employee Expenses 251.04 441.88 330.66 - Other Expenses 237.64 446.43 265.75 - EBITDA 413.75 903.63 782.52 15.48% EBITDA % 16.0
Slide 32: Balance Sheet
BALANCE SHEET (In ₹ Lakhs.) Particulars FY26 FY25 Equity Capital 2246.46 1761.06 Reserves 3328.55 774.99 Borrowings 0 0 Other Liabilities 156.69 92.23 Total Liabilities and Equity 5797.11 2727.39 Fixed Assets 350.24 230.39 CWIP 0 0 Investments 0 0 Other Assets 5446.84 2497 Total Assets 5797.11 2727.
Slide 33: Safe Harbour
SAFE HARBOUR This presentation (the “Presentation”) has been prepared by SPEB Adhesives Limited (the “Company”) solely for information purposes. It does not constitute any offer, recommendation, invitation, or solicitation to purchase or subscribe to any securities of the Company, nor shall it form
Slide 34: Thank You!
Thank You! Mr. Gaurav Vithlani Mr. Ayush Divecha Managing Director Email : ir@merlincapital.co.in Email : gaurav@speb7.com Contact : +91 81048 55515