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

52-Week Range
Valuation
Financials (FY2024)
Multi-year trend
Revenue (₹ Cr)
Net Profit (₹ Cr)
Investment Thesis
Rapidly growing Rajasthan toy and houseware manufacturer (est. 2020) operating under the Urban Tots brand from Bhiwadi Industrial Area, Alwar. Revenue ₹79.5 Cr FY2024 with PAT ₹7.04 Cr and a 71% revenue CAGR over FY2022–24. Distributed through FirstCry, Hamleys, DMart, Reliance Retail, Vishal Mega Mart, Amazon and Flipkart — broad national retail reach. Promoters Deepak and Satya Chaudhary hold ~81%. IPO planned 2026 (₹200 Cr raise; ~₹2,100 Cr target valuation). Ambitious ₹2,000 Cr FY31 revenue target. One of the most exciting pre-IPO consumer brand growth stories in the toy sector.
Pros
Cons
Business Segments
Toys manufacturing — plastic, electronic, wooden, metallic toys and baby dolls (brand: Urban Tots)
Houseware manufacturing — plastic containers, stainless steel utensils
Bicycle freewheels manufacturing
Revenue Model
Revenue generated through manufacturing and sale of toys and houseware products to retail consumers and distributors across India, potentially also through e-commerce channels under the Urban Tots brand.
Detailed Analysis
Growth Plans
India's toy market is projected to grow significantly as domestic manufacturing is promoted under PLI and Make in India schemes.
Growing middle-class consumer spending on branded toys and houseware products.
Industry Tailwinds
India's toy market is projected to grow significantly as domestic manufacturing is promoted under PLI and Make in India schemes.
Growing middle-class consumer spending on branded toys and houseware products.
Recent Developments
Comparable Companies
Unlisted
Unlisted
Frequently Asked Questions
About Urban Tots
Urban Tots, operating under Deepak Houseware & Toys Limited, is one of India's fastest-growing domestic toy manufacturers. Founded in 2020 and commencing commercial operations in August 2021, the company is headquartered in Bhiwadi, Rajasthan, and operates a state-of-the-art manufacturing facility spanning 36,000 square yards. The plant houses over 55 imported machines and employs more than 350 people, making it one of the more mechanised toy production units in the country. Urban Tots manufactures a wide range of products including plastic toys, electronic toys, role-playing items, and educational toys. The company has positioned itself as a Made-in-India alternative to imported Chinese toys, benefiting from the Government of India's Production Linked Incentive (PLI) scheme for toy manufacturing. The PLI scheme provides financial incentives to eligible manufacturers meeting defined production thresholds, supporting Urban Tots' capacity expansion and cost competitiveness. The company's distribution strategy is notable: it has signed 18 exclusive distribution agreements with prominent retailers including FirstCry, DMart, VMart, Hamleys, and Reliance Retail. Products are also available online via Amazon and Flipkart, giving Urban Tots a strong omni-channel reach across India's retail landscape. Financially, Urban Tots has demonstrated exceptional growth. Revenue scaled from approximately ₹16.23 Crore in FY2022 to ₹49.15 Crore in FY2023, and further to approximately ₹78.82 Crore in FY2024—representing nearly 5x growth in just three years. Net profit also grew from ₹2.4 Crore in FY2022 to approximately ₹9.78 Crore in FY2024. This trajectory reflects both demand expansion in the domestic toy market and the company's operational efficiency. India's toy industry is undergoing a structural transformation, driven by the government's push to reduce imports from China and build domestic manufacturing capabilities. India imposed a basic customs duty hike on imported toys and streamlined quality standards, which has benefited local players like Urban Tots. The domestic toy market is estimated to grow to USD 3 billion by 2028, and companies with established manufacturing infrastructure are well-placed to capture disproportionate market share. Urban Tots converted from a Private Limited to a Public Limited company in 2024, a step that signals its intent to eventually list on Indian stock exchanges. Management has indicated IPO plans within the next 2-3 years, which would provide an exit avenue for current unlisted shareholders and further fuel expansion.
Key Milestones
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Takes 2 minutes
We source & quote
Typically within 1 business day
You accept the allocation
Quote valid for 3 days
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Unlisted shares are illiquid and carry higher risk. Pricing is indicative, not live, and these are private off-market transactions with no exchange settlement guarantee. Read the full risk disclosure.
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Industry Headwinds
Early-stage company with no established financial track record.
Competition from established players like Funskool, Mattel India, and numerous unorganized manufacturers.
Company is less than 5 years old with limited operational track record
Source: Media Reports / Public Records
Highly promoter-driven with limited public disclosure
Source: Media Reports / Public Records
IPO timeline of 2-3 years is not guaranteed
Source: AlphaHub Research
Company was incorporated only in 2020 and is in an early stage with limited operational history and no publicly disclosed financials.
Indian toy market is highly competitive with both large domestic manufacturers and international players; domestic brands face pressure from Chinese imports.
Toy manufacturing in India is subject to BIS quality standards and mandatory certifications introduced in 2020-2021, which may add compliance costs for small manufacturers.
6 August 2020 — Incorporated as Deepak Houseware & Toys Private Limited, Bhiwadi Industrial Area, Rajasthan
August 2021 — Launched Urban Tots brand; commenced toy manufacturing
FY2022: Revenue ₹16.23 Cr; PAT ₹3.3 Cr — strong debut year
FY2023: Revenue ~₹50 Cr; PAT ₹4.2 Cr
FY2024: Revenue ₹79.5 Cr; PAT ₹7.04 Cr — 71% CAGR maintained
2024 — Converted to Public Limited company (Deepak Houseware & Toys Limited); IPO preparatory step
2025–26 — IPO planned on BSE/NSE; targeting ₹200 Cr raise; 3 additional plants planned (incl. Madhya Pradesh)