What Deco Mica does

Deco Mica Limited (BSE: 531227; DBA: Deco-Mica Ltd) is an Indian publicly listed manufacturer of decorative laminates, cut pieces, and plastic-based films, headquartered in Ahmedabad, Gujarat. Founded in 1988 by Vijaykumar Agarwal — who continues to serve as Founder, CEO, and Managing Director — the company operates in the building materials and interior surfacing segment, supplying products used in furniture, cabinetry, and interior finishing applications. The company is small in scale, with 11-50 employees reported, and has maintained continuous listed status on Indian stock exchanges (BSE/NSE) subject to SEBI regulatory oversight.

The company's product portfolio centers on decorative laminates, cut pieces, and films made of plastic, with no proprietary technology, branded formulation, or differentiated manufacturing process documented in available sources. There are no disclosed patents, certifications, or technology partnerships. The company's public-market profile has been episodic: the stock surged over 15% on May 28, 2025, and touched a 52-week high on July 18, 2025, with routine quarterly results and board-meeting disclosures continuing through Q3 FY2026 (approved February 12, 2026).

Deco Mica's business model is that of a B2B laminates and films manufacturer selling to downstream customers in the furniture and interior surfacing industries. No pricing models, customer segments, distribution channels, marketing channels, or geographic markets served are publicly disclosed. Reported financials indicate a multi-year contraction: revenue declined from approximately $770.9M in 2023 to $685.5M in 2026, net income fell from $23.1M to $6.9M, and EBITDA compressed from $62.7M to $51.4M — a pattern that, combined with the small headcount and absence of disclosed expansion initiatives, suggests declining unit economics rather than active growth investment.

Name

Deco Mica

Legal name

Deco Mica Limited

Website

http://www.decomicaltd.com

Company type

Public

Founded year

1988

Operating status

Operating

Headcount range

11–50 employees

Short description

Deco Mica Limited is an Ahmedabad-based Indian listed manufacturer (BSE: 531227) producing decorative laminates, cut pieces, and plastic films for the furniture and interior surfacing industry, founded in 1988 and led by founder-CEO Vijaykumar Agarwal.

Ownership category

akta.pro rank

Product category

Decorative Laminates

NAICS

Plastics Packaging Film and Sheet (including Laminated) Manufacturing (326112), Plastics Packaging Materials and Unlaminated Film and Sheet Manufacturing (32611)

SIC

Unsupported Plastics Film & Sheet (3081), Plastics Products, Nec (3089)

akta.pro primary industry

Mica (IMAEAFAH)

akta.pro secondary industry

Coated & Laminated Base Fabric Mills (Pre-finish Substrates) (IMAOABAI)

Keywords

• Decorative laminates
• Laminate sheets
• PVC films
• Surface materials
• Interior laminates

Headquarters

HQ city

Ahmedabad

HQ country

India

HQ region

Asia

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Supply Chain, Operations, Personnel, Marketing or Sales, Infrastructure

Core offering

Deco Mica manufactures and sells decorative laminates and plastic (PVC/polymer) films, along with cut pieces of laminates, used as surface-finish materials for furniture, cabinetry, doors, wall panels, and interior applications. The company produces these goods at its Ahmedabad facility and distributes them to industrial and commercial buyers in India.

Differentiator

Problem solved

Functional benefit

Products and services

• Decorative Laminates Decorative laminate sheets manufactured by Deco Mica at its Ahmedabad facility, supplied as surface-finish material for furniture, cabinetry, doors, wall panels, and other interior applications in India.
• Plastic (PVC/Polymer) Films Plastic films made of PVC and related polymers, manufactured by Deco Mica and supplied to industrial and commercial buyers for surface-finishing and interior product applications.
• Cut Pieces of Laminates Pre-sized cut pieces of decorative laminates produced by Deco Mica, supplied to furniture manufacturers, interior contractors, and other buyers who require ready-to-use laminate pieces rather than full sheets.

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators2 records

Recent moves3 records

Expansion highlights1 record

Broad incumbents

• Greenlam Industries: Greenlam is one of India's largest manufacturers of decorative laminates, compact laminates, and engineered wood surfaces, with a global distribution footprint. Directly comparable to Deco Mica as a decorative laminate producer serving the Indian furniture and interior fit-out market, but at significantly larger scale.
• Centuryply (Century Laminates): Centuryply is one of India's largest branded interior infrastructure companies, offering decorative laminates, plywood, veneers, and MDF. Both companies compete in the Indian decorative laminates market with overlapping customer segments in furniture and panel manufacturers.
• Formica Group: Formica is a global leader in decorative laminate surfaces, originally known for its namesake brand of high-pressure laminates. While a global incumbent, it serves the same product category (decorative mica/laminate surfaces) and overlaps with Deco Mica in furniture and interior design applications.
• Wilsonart: Wilsonart is a major global manufacturer of decorative engineered surfaces, including high-pressure laminates and solid surfaces. Comparable to Deco Mica in the decorative laminate product category, though operating globally at much larger scale with a broader product portfolio.
• Greenply Industries: Greenply is a leading Indian manufacturer of plywood, MDF, and decorative laminates. Overlaps with Deco Mica in the decorative laminate category, with a broader product portfolio spanning the wood panel value chain.

Direct peers

• Merino Laminates: Merino Laminates is a leading Indian manufacturer of decorative laminates and surface solutions, including mica-based and high-pressure laminates. Highly comparable to Deco Mica in product category, customer base (furniture manufacturers, dealers), and Indian market focus.
• Stylam Industries: Stylam Industries is an Indian manufacturer of decorative laminates and compact laminates, with growing export presence. Comparable to Deco Mica in product line (decorative mica/laminate surfaces) and Indian focus, though larger in scale and export-oriented.
• Royal Crown Laminates: Royal Crown is an Indian manufacturer of decorative laminates (mica and high-pressure laminates) serving furniture and panel manufacturers. Closely comparable to Deco Mica in scale, product category, and Indian market positioning.

Regional players

• Durian Industries: Durian Industries is an Indian manufacturer of laminates, plywood, and engineered wood products. Overlaps with Deco Mica in the decorative laminates and related surface materials space, primarily serving the Indian market through dealer and institutional channels.
• AICA Laminates India: AICA Laminates is a Japanese-headquartered laminate manufacturer with operations in India. Comparable to Deco Mica in product category (decorative mica/laminate surfaces) and India market focus, particularly in the premium decorative segment.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat2 records

Key risks5 records

Key highlights5 records

Customer concentration

• LinkedInlinkedin.com/company/deco-mica-limited---india

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Deco Mica