| Annual Financials | Mar 2024 | Mar 2025 | Mar 2026 |
| Revenue | 109.87 | 114.03 | 117.37 |
| Expenses | 100.11 | 103.88 | 95.87 |
| Other Income | 0.02 | 0.94 | 0.06 |
| Total Revenue | 109.89 | 114.97 | 117.43 |
| Profit Before Tax | 9.78 | 11.10 | 21.57 |
| Net Profit | 7.05 | 8.51 | 16.04 |
Ashutosh Fibre
Ashutosh Fibre IPO
₹2,08,800
0.78 xOver-subscribedBidding Dates 31 Aug, 26 -02 Sept, 26
Min Investment ₹2,08,800
Lot Size1,200
Price Range ₹87 – ₹92
Issue Size ₹56.35 Cr.
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IPO Subscription Details
Retail Subscription Details
1.08 x
Non-Institutional Buyers (sHNI)
0.74 x
Non-Institutional Buyers (bHNI)
1.34 x
Qualified Institutional Buyers (QIB)
0 x
Total0.78 x
0.78 x IPO Timeline
IPO Offer Start
31 Aug,26
IPO Offer Ends
02 Sept,26
Allotment Finalisation
03 Sept,26
Refund Initiation
04 Sept,26
Listing of Shares
07 Sept,26
IPO Analysis
Strengths
The company has developed capabilities in recycling para-aramid fabrics through proprietary 'Fabric-to-Fibre' process, with recycled fibre comprising 21.46% of total purchases in FY 2025-26, reducing raw material costs and supporting sustainability.
The company manufactures polypropylene spun yarns contributing 22.95% of revenue from operations in FY 2025-26, offering wide range of counts and plies for filtration and technical textile applications.
The company maintains long-standing relationships with average period of 6 years with major customers and 5.5 years with suppliers, providing stability in procurement and recurring revenue opportunities.
Risks
The company relies on a limited number of high-volume customers for a substantial portion of revenues, with top 10 customers contributing approximately 68.85%, 67.40% and 72.11% of revenue from operations for Fiscals 2026, 2025 and 2024 respectively. The company does not have long-term agreements with these customers, exposing it to risks of order reduction, cancellation, or unfavorable terms renegotiation.
The company sources majority of raw materials from top 10 suppliers (64.73%, 70.31% and 78.10% of total purchases for Fiscals 2026, 2025 and 2024) without long-term supply agreements. A significant portion (36.29% to 41.18%) of raw materials are imported, creating dependency on global suppliers and exposing the company to foreign exchange fluctuations, supply chain delays, and international trade policy changes.
The company avails fiscal incentives under Advance Authorisation and EPCG schemes, requiring fulfillment of prescribed export obligations within stipulated timelines. Failure to meet these obligations may result in withdrawal of benefits and liability to pay differential customs duty along with interest and penalties, which could substantially increase costs and impact profitability.
Objectives
The company intends to utilize funds for expansion of manufacturing capacity through purchase and installation of additional equipment and machinery at existing facility to meet increasing demand and diversify into additional high-performance yarn categories.
The company proposes to utilize funds towards partial repayment or pre-payment of certain borrowings to reduce outstanding indebtedness, maintain favourable debt equity ratio and enable utilization of additional internal accruals for business growth.
The company intends to deploy funds for general corporate purposes including funding growth opportunities, meeting business expenses, servicing borrowings, brand building, marketing expenses and meeting business exigencies as permitted by applicable laws.
Yearly Financial Results
Balance Sheet
| Balance Sheet | Mar 2024 | Mar 2025 | Mar 2026 |
| Total Assets | 73.01 | 104.60 | 112.06 |
| Current Assets | 38.44 | 47.07 | 49.08 |
| Fixed Assets | 34.57 | 57.53 | 62.98 |
| Total Equity & Liabilities | 73.01 | 104.60 | 112.06 |
| Total Liabilities | 45.46 | 68.75 | 60.16 |
| Current Liabilities | 27.88 | 33.54 | 29.54 |
| Non Current Liabilities | 17.58 | 35.21 | 30.62 |
| Total Equity | 27.55 | 35.85 | 51.90 |
Cash Flow
| Cash Flow | Mar 2024 | Mar 2025 | Mar 2026 |
| Net Cash Flow | -1.09 | 3.21 | -3.02 |
| Investing Activities | -7.61 | -26.30 | -10.32 |
| Operating Activities | 5.64 | 11.22 | 21.44 |
| Financing Activities | 0.88 | 18.29 | -14.15 |
About Ashutosh Fibre
Ashutosh Fibre Limited, incorporated in 1985, is a technical textile manufacturer specializing in synthetic yarns for high-performance industrial applications. The company operates in four technical textile segments: Indutech (industrial filtration, geotextiles), Protech (protective equipment, safety apparel), Hometech (home furnishing textiles), and Mobiltech (automotive friction materials). The company operates a B2B...more
Managing DirectorSiddharth Prakash Patel
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