About Euro Panel Products Limited (EUROBOND)

Euro Panel Products Limited, the owner of the Eurobond brand, is a leading manufacturer and supplier of Aluminium Composite Panels (ACP) catering to customers across India and global markets. The Company operates two manufacturing units, supported by 17 trading depots and a nationwide sales network, serving both façade and interior applications domestically and internationally.

Headquartered in Mumbai, Eurobond’s manufacturing operations are based in Umbergaon, Gujarat (as per the Annual Report). The brand was one of the first two Indian companies to introduce ACP in 2002, pioneering the category’s growth in India’s construction and design sectors.

Market Presence and Scale

• Distribution Network: Over 100 distributors, 17 depots, and 5,000+ retail touchpoints across India.
• Global Reach: Exports to 20+ countries including the USA, Brazil, Egypt, Kenya, Sri Lanka, and Turkey.
• Workforce: As of March 31, 2025, the Company employed 512 permanent staff across manufacturing, administrative, and sales functions.
• Product Innovation: The brand portfolio includes sustainable and recyclable ACP panels such as Eurocore and Eurocomb, underscoring a commitment to eco-friendly product development.

Subsidiaries and Group Structure

The Company does not have any Subsidiary, Joint Venture, or Associate Company, and hence AOC-1 disclosures were not applicable for FY 2024–25.
However, Euro Panel Products Limited has initiated the process to incorporate a wholly owned subsidiary in the State of Qatar, as part of its international expansion strategy.

Recent Milestones and Achievements

• Technological Advancement:
  Commissioned India’s most advanced “3Coat 2Bake” continuous colour coating line, representing a significant backward integration to enhance quality control, reduce lead time, and improve consistency.
• Capacity Enhancement:
  Upgraded an existing production line, boosting overall manufacturing capacity by 40%, in response to rising demand.
• Infrastructure Expansion:
  Opened a new 5,000 sq. ft. corporate headquarters in Mumbai, designed to foster innovation and collaboration across departments.
• Market Listing Upgrade:
  Successfully migrated from NSE Emerge to the Main Boards of NSE and BSE with effect from August 1, 2025, improving visibility and liquidity.
  • BSE Scrip Code: 544461
  • NSE Symbol: EUROBOND
• Network Expansion:
  Strengthened pan-India presence with a new depot in Dehradun, taking the total to 17 depots nationwide.
• Credit Rating Upgrade:
  • Long-Term Ratings: Upgraded to CRISIL BBB/Stable (from BBB-/Positive) and CARE BBB+.
  • Short-Term Ratings: Upgraded to CRISIL A3+ and CARE A3+, reflecting improved financial strength and performance.

Key Management

• Rajesh Nanalal Shah – Chairman & Managing Director
• Divyam Rajesh Shah – Whole-Time Director & Chief Financial Officer (CFO)
• Krishna Rajesh Shah – Executive Director (appointed May 24, 2025)

Sonal Dharmin Desai – Company Secretary & Compliance Officer (appointed April 3, 2024)

Note: Euro Panel Products Limited (EUROBOND) is listed on both NSE and BSE. For detailed financials and corporate governance disclosures, refer to the FY 2024–25 Annual Report.