Mumbai, August 1, 2025 — In a landmark move for India’s construction materials sector, Euro Panel Products Ltd, the parent company of leading aluminium composite panel (ACP) brand EUROBOND, has migrated from the SME board of the National Stock Exchange (NSE Emerge) to the mainboard of both the NSE and the Bombay Stock Exchange (BSE). This transition makes Euro Panel Products Ltd the first Indian ACP manufacturer to secure a mainboard listing on the country’s two premier stock exchanges.
The company, which first went public in December 2021 with an IPO priced at ₹70, has rewarded early investors handsomely, delivering more than 178% returns since its debut. The mainboard migration is expected to expand investor access and liquidity while positioning Euro Panel Products as a rare listed player in India’s fast-growing facade materials market.
Industry Outlook & Strategic Expansion
According to Grant Thornton, India’s facade materials industry is growing at a compound annual growth rate (CAGR) of 7.3%, with organised players growing nearly 20% faster. The company’s move is strategically timed, as it remains the only publicly traded enterprise within the ACP manufacturing sector.
Rajesh Shah, Managing Director of Euro Panel Products Ltd, hailed the listing as a transformative milestone:
“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,” said Shah. “We’re not here to sell shares; we’re here to share a vision — one of building a globally respected Indian brand in facade solutions, rooted in innovation and trust.”
The Mumbai-headquartered company is implementing ambitious expansion plans, including a backward integration strategy featuring an additional coating line, a next-generation production upgrade, and a ground-mounted 2.2 MW solar power project expected to offset 50% of its energy needs.
Financial Performance & ESG Commitment
For FY24-25, Euro Panel Products reported a 26% year-on-year rise in profit after tax (PAT), reaching ₹18 crore, on revenue of ₹423 crore, reflecting 7% growth over the previous fiscal year. Net profit has compounded at 36% annually over the past five years.
The company’s ESG strategy is also noteworthy, with its forthcoming solar initiative poised to significantly reduce carbon intensity. This aligns with global investor interest in sustainable manufacturing practices, a factor increasingly scrutinised by institutional capital.
Global Reach & Future Outlook
Euro Panel Products maintains a global presence spanning more than 20 countries, including the United States, Brazil, Egypt, Kenya, Oman, and Sri Lanka. International collaborations — most notably with German titanium zinc producer RHEINZINK — are expected to enhance its product portfolio and international reach.
Founded in 2002, Eurobond was among the first to introduce ACP solutions in India and has since become synonymous with quality and reliability in metal composite panels. Today, with daily production capacity expanding to 27,000 sq.m., the firm is positioned to leverage rising domestic infrastructure demand and growing global markets.
Shah remains optimistic about the road ahead: “With exciting developments in innovation, sustainability, and international collaboration, our future outlook is robust. This is not just a listing milestone; it’s a gateway to scale greater heights,” he said.