What does Marvel Vinyls Limited manufacture?

Marvel Vinyls Limited manufactures artificial and synthetic leather, PVC flooring, and PVC sheets. These products are used across automotive interiors, furniture upholstery, footwear manufacturing, and commercial and residential flooring applications.

Where is Marvel Vinyls Limited located?

Marvel Vinyls Limited is headquartered and manufactures at Malanpur Industrial Area in Madhya Pradesh, which is a well-developed industrial cluster with good transport and power infrastructure. The company is registered with the Registrar of Companies, Delhi (CIN: L74899DL1985PLC021085).

When was Marvel Vinyls Limited incorporated?

Marvel Vinyls Limited was incorporated in 1985 in Delhi, as reflected in its CIN (L74899DL1985PLC021085). The company has approximately 40 years of manufacturing history.

Is Marvel Vinyls Limited listed on a stock exchange?

Marvel Vinyls Limited has the 'L' prefix in its CIN, indicating it may have had a listed company classification. Currently it is treated as an unlisted company in active trading databases, with no confirmed active trading on BSE or NSE.

What markets does Marvel Vinyls serve?

Marvel Vinyls supplies PVC and vinyl products to the automotive industry (car seat covers, door panels), furniture manufacturers (sofa and upholstery fabrics), footwear manufacturers, and the construction sector (PVC flooring for residential and commercial buildings).

How do I buy Marvel Vinyls unlisted shares here?

Raise an enquiry on any company with the quantity you want. Our desk sources the shares and comes back with a firm price and allocation. You accept the allocation, transfer the funds to the desk's published bank account, and once we verify payment the shares are transferred into your demat.

Who am I actually transacting with?

You transact with the desk, not with an anonymous counterparty. When you buy, you buy from the desk; when you sell, you sell to the desk. Shares always route through the desk's own demat account, so there's one accountable party for the whole trade.

How do I pay, and is there a payment gateway?

Payment is by direct bank transfer to Prospire Network Private Limited's published account (CIN U82300UP2025PTC233622), shown to you in-app at the payment step. There is no card gateway and no escrow. Never pay to a personal account or to any account shared over phone, WhatsApp or email — even if the person claims to be from our team.

How long does settlement take?

After you accept an allocation, you have a short window to pay (typically 2 days). Once payment is verified, shares are usually credited to your demat within 2–3 business days, subject to depository timelines and any company-level restrictions. Timeframes are typical, not guaranteed.

There are no separate platform fee lines and no GST on the transfer — the desk's margin is built into the buy/sell price you're quoted. The only statutory add-on on a purchase is stamp duty on the consideration, shown transparently in your cost breakdown.

Is there a minimum ticket size for Marvel Vinyls?

Minimums vary by company and depend on the lot the desk can source. Raise an enquiry and the desk will confirm the available quantity and the minimum for that name.

What KYC do I need, and do I need a demat account?

You'll share your demat details when you enquire so we can settle directly. Full KYC — PAN and a client-master / demat statement — is required before the transfer step, when shares actually change hands. Yes, you need an active demat account to hold unlisted shares.

Are there lock-ins on unlisted or pre-IPO shares?

Some shares carry statutory or company-imposed lock-ins — for example, a post-listing lock-in on pre-IPO stock — and transfers can be subject to the company's articles or approvals. Where a lock-in applies, we'll flag it before you commit.

How do I sell Marvel Vinyls shares I already hold?

Raise a sell enquiry with the company, quantity and your target price. The desk confirms a buying price, you transfer your shares into the desk's demat, and once the credit is verified we pay you out by bank transfer to your registered account. The desk never pays out before your shares are received.

Unlisted shares are illiquid, may be hard or impossible to sell, and are not covered by exchange settlement guarantees or investor-protection funds. Pricing is indicative, not live. Read the full Risk Disclosure before you enquire, and invest only what you can afford to lock away.

Marvel Vinyls Unlisted Share Price | Buy Marvel Vinyls Pre-IPO Shares — wisefolio

Unlisted shares are illiquid and carry higher risk than listed securities. Prices are indicative, not live. Read the risk disclosure.

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Marvel Vinyls Unlisted Share Price | Buy Marvel Vinyls Pre-IPO Shares — wisefolio | wisefolio

Investment Thesis

Marvel Vinyls Limited is a small, established PVC and vinyl products manufacturer based in Malanpur, Madhya Pradesh, with nearly four decades of operations in artificial leather, PVC flooring, and PVC sheets. The company serves structurally growing end markets (automotive, construction, furniture), but its small authorized capital base, import competition challenges, and complete absence of public financial disclosures make it a limited-visibility investment. At ₹124 per share, investors should seek detailed private due diligence on operational scale and financial health.

Pros

India's largest manufacturer of Artificial/Synthetic Leather, PVC Flooring, PVC Sheets; 20 million LM/year capacity; 5 coating lines.
40+ years of PVC/synthetic leather manufacturing since 1985; plants in Sahibabad (UP) and Malanpur (MP) — diversified manufacturing footprint.
Active website at marvelvinyls.com; established B2B brand in synthetic leather for footwear, automotive, and furnishing industries.
Delisting by Sauve Enterprises (acquirer) suggests private equity/strategic buyer saw value in the business.

Cons

Voluntarily delisted from BSE (531394) effective September 15, 2022 via delisting offer by Sauve Enterprises Private Limited — no longer publicly traded.
Post-delisting, shares are illiquid; exit only through acquirer buy-back or future re-listing.
PVC and synthetic leather face environmental scrutiny (EU bans on certain PVC products); long-term regulatory risk.
No current revenue data publicly available post-delisting; financial transparency limited.

Business Segments

Synthetic / Artificial Leather

Manufacturing of PVC-coated/laminated fabric and artificial leather for footwear, furniture, automotive, and fashion industries; India's largest producer at 20 million LM/year.

PVC Flooring & Sheets

Manufacturing of PVC floor covering, PVC film, PVC sheets, and clear PVC flexible products for construction and industrial applications.

Revenue Model

Marvel Vinyls Limited generates revenue through the manufacture and sale of PVC-based products including artificial leather, PVC flooring, and PVC sheets to industrial customers (automotive OEMs, furniture makers, footwear companies) and the construction sector. Revenue is driven by volume of PVC compound processed and value-added product mix. The company likely operates primarily on a B2B model with domestic sales supplemented by potential exports.

Detailed Analysis

Growth outlookExpansion plans, industry tailwinds & headwinds11

Growth Plans

India's real estate construction boom driving sustained PVC flooring demand in residential and commercial segments

Automotive sector growth (4+ million vehicles annually) supporting demand for PVC synthetic leather

Government anti-dumping duties on Chinese PVC products potentially improving competitive positioning for domestic manufacturers

Growing furniture export industry from India increasing demand for synthetic leather and PVC materials

Recent Developments

Delisted from BSE

Marvel Vinyls Limited voluntarily delisted from BSE (scrip code 531394) effective September 15, 2022 via delisting offer by Sauve Enterprises Private Limited.

September 15, 2022

BSE in-principle delisting approval

BSE granted in-principle approval for voluntary delisting; Sauve Enterprises as acquirer made open offer to public shareholders.

May 27, 2022

Comparable Companies

CompanyTypeTickerMkt Cap

Mayur Uniquoters LimitedListedMAYURUNIQ~₹4,500 Cr (listed synthetic leather manufacturer)

Supreme Industries LimitedListedSUPREMEIND~₹40,000 Cr (listed PVC products)

Finolex Industries LimitedListedFINPIPE~₹10,000 Cr (listed PVC products)

Mayur Uniquoters LimitedListed

MAYURUNIQ · ~₹4,500 Cr (listed synthetic leather manufacturer)

Frequently Asked Questions

About Marvel Vinyls

Marvel Vinyls Limited is a Madhya Pradesh-based manufacturer of PVC (polyvinyl chloride) and vinyl products, operating from its plant in the Malanpur industrial area in Bhind district. Incorporated in 1985 and registered with the Registrar of Companies in Delhi, the company has over three decades of operating history in the plastics and vinyl manufacturing sector. The company manufactures a range of PVC-based products used across construction, packaging, and consumer goods industries. Its product line includes rigid and flexible PVC compounds, vinyl sheets, and related extruded plastic products. These products serve downstream users in the building materials, automotive components, and consumer packaging sectors. Marvel Vinyls generates revenue through direct sales to industrial buyers, OEMs, and distributors in the PVC/plastics supply chain. The company operates primarily in the domestic Indian market, supplying to customers in central and northern India given its Madhya Pradesh location. The Malanpur industrial estate where it operates is a well-established manufacturing hub in MP. Financially, Marvel Vinyls reported operating revenue in the INR 100–500 crore range for FY2023, with EBITDA growing 5.89% year-on-year. The company has an authorised share capital of ₹11 crore and paid-up capital of approximately ₹4.25 crore. Its current regulatory status is Active with MCA. As an unlisted company, Marvel Vinyls shares limited financial disclosure publicly. The company competes in a fragmented PVC/plastics manufacturing market alongside organised players like Supreme Industries and Finolex Industries, as well as numerous regional manufacturers. Key risks include raw material (PVC resin) price volatility tied to crude oil cycles and competition from cheaper imports.

Key Milestones

Incorporated May 30, 1985 in Delhi (CIN: L74899DL1985PLC021085); manufacturing at Sahibabad (UP) and Malanpur (MP)

Common questions about unlisted shares

How do I buy Marvel Vinyls unlisted shares here?
Raise an enquiry on any company with the quantity you want. Our desk sources the shares and comes back with a firm price and allocation. You accept the allocation, transfer the funds to the desk's published bank account, and once we verify payment the shares are transferred into your demat.
Who am I actually transacting with?
You transact with the desk, not with an anonymous counterparty. When you buy, you buy from the desk; when you sell, you sell to the desk. Shares always route through the desk's own demat account, so there's one accountable party for the whole trade.
How do I pay, and is there a payment gateway?

Risk factors & red flagsInvestment risks and items flagged from public filings13

Financial PerformanceLow

Net profit margin is thin at 2.4% — limited buffer against revenue or cost shocks

Source: Financial data

Leverage & DebtMedium

Debt-to-equity ratio of 3.53x indicates elevated leverage — increases financial risk in downturns

Source: Financial data

Leverage & DebtMedium

CRISIL rating of [ICRA]B+(Stable) — sub-investment grade; indicates elevated credit risk

Source: CRISIL

Fraud / GovernanceLow

PVC resin is a petrochemical derivative, and its price is highly correlated with crude oil prices and domestic chlor-alkali industry dynamics. Significant raw material cost increases can compress margins for PVC product manufacturers.

Source: Company Financial Filings

Fraud / GovernanceLow

Chinese manufacturers of artificial leather and PVC flooring have significant cost advantages due to integrated supply chains, government export incentives, and massive scale economies. Indian manufacturers face persistent pricing pressure from Chinese imports.

Source: Media Reports / Public Records

Fraud / GovernanceLow

With an authorized capital of only ₹4.03 Cr, Marvel Vinyls is a very small manufacturer. Limited scale constrains purchasing power for raw materials, investment capacity for technology upgrades, and ability to compete on pricing.

Source: Company Financial Filings

Fraud / GovernanceLow

PVC manufacturing involves chlorinated compounds and plasticizers that are subject to increasing environmental regulation. Compliance with pollution control norms in Madhya Pradesh and evolving plastic product regulations creates ongoing compliance cost risk.

Source: Media Reports / Public Records

Fraud / GovernanceLow

The absence of a confirmed ISIN and unlisted status means shares of Marvel Vinyls are essentially illiquid. Investors cannot exit positions without finding a private buyer at a negotiated price.

Source: Media Reports / Public Records

Raw Material Risk

Import Competition Risk

Scale Risk

Environmental Compliance Risk

Liquidity Risk

The absence of a confirmed ISIN and unlisted status means shares of Marvel Vinyls are essentially illiquid. Investors cannot exit positions without finding a private buyer at a negotiated price.

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