| Annual Financials | Mar 2024 | Mar 2025 | Mar 2026 |
| Revenue | 84.35 | 114.63 | 130.72 |
| Expenses | 79.10 | 103.05 | 116.16 |
| Other Income | 0.99 | 0.53 | 1.18 |
| Total Revenue | 85.33 | 115.15 | 131.90 |
| Profit Before Tax | 6.23 | 12.12 | 15.74 |
| Net Profit | 4.66 | 9.08 | 11.41 |
H R Hygiene Products
H R Hygiene Products IPO
₹2,65,600
1.82 xOver-subscribedBidding Dates 29 Jul, 26 -31 Jul, 26
Min Investment ₹2,65,600
Lot Size1,600
Price Range ₹83 – ₹88
Issue Size ₹53.95 Cr.
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IPO Subscription Details
Retail Subscription Details
1.97 x
Non-Institutional Buyers (sHNI)
1.42 x
Non-Institutional Buyers (bHNI)
3.21 x
Qualified Institutional Buyers (QIB)
1.01 x
Total1.82 x
1.82 x IPO Timeline
IPO Offer Start
29 Jul,26
IPO Offer Ends
31 Jul,26
Allotment Finalisation
03 Aug,26
Refund Initiation
04 Aug,26
Listing of Shares
05 Aug,26
IPO Analysis
Strengths
The company operates a state-of-the-art production facility spread across 32,780.88 sq. ft., equipped with fully automated systems from raw material handling to finished product packaging with minimal human intervention, ensuring hygienic production and holding ISO 9001:2015, WHO-GMP, and BIS certifications.
The company operates an integrated business model with products distributed through both General Trade networks and major e-commerce platforms, selling through 25 CSA's with a network of 202 distributors as of March 31, 2026.
The company's brand 'Femiss Sanitary Pad' received the National Award for Excellence in Healthcare in 2020 for 'Best Emerging Brand of the Year', with long-term customer relationships demonstrated by 5 customers associated for more than 5 years generating significant revenue.
Risks
The company's revenue is highly concentrated in sanitary napkins, representing 95.33% of revenue in Fiscal 2026. Any adverse development affecting this category could materially impact business operations and financial performance.
The company operates on purchase order basis without long-term contracts, with top 10 customers contributing 80.41% of revenue in Fiscal 2026. Loss of key customers or inability to maintain relationships could severely impact revenues.
The company depends on limited suppliers with top 10 suppliers contributing 84.57% of purchases in Fiscal 2026, without long-term agreements. Supply disruptions or cost increases could adversely affect production and margins.
Objectives
The company proposes to establish a new manufacturing facility in proximity to its existing unit at Rajkot, Gujarat for manufacturing of diapers with an installed capacity of 6 crore pieces annually. The facility will be designed in line with WHO-GMP norms to meet stringent quality, safety, and regulatory requirements for global markets.
The company intends to utilize the proceeds towards repayment/pre-payment of certain borrowings to reduce outstanding indebtedness and debt servicing costs, maintain a favourable debt to equity ratio and enable utilization of internal accruals for further investment in business growth and expansion.
The company will have flexibility in utilizing the proceeds for general corporate purposes including initial development costs for new products, meeting operating expenses, strengthening business development and marketing capabilities, meeting exigencies, and other purposes as approved by the Board of Directors.
Yearly Financial Results
Balance Sheet
| Balance Sheet | Mar 2024 | Mar 2025 | Mar 2026 |
| Total Assets | 48.87 | 90.56 | 170.92 |
| Current Assets | 40.32 | 83.03 | 164.19 |
| Fixed Assets | 8.55 | 7.53 | 6.73 |
| Total Equity & Liabilities | 48.87 | 90.56 | 170.92 |
| Total Liabilities | 42.97 | 59.13 | 128.54 |
| Current Liabilities | 30.85 | 48.62 | 116.36 |
| Non Current Liabilities | 12.12 | 10.51 | 12.18 |
| Total Equity | 5.90 | 31.44 | 42.38 |
Cash Flow
| Cash Flow | Mar 2024 | Mar 2025 | Mar 2026 |
| Net Cash Flow | -0.39 | 0.95 | 0.29 |
| Investing Activities | -5.73 | -0.24 | -0.42 |
| Operating Activities | 2.29 | -10.08 | 1.58 |
| Financing Activities | 3.05 | 11.27 | -0.88 |
About H R Hygiene Products
The company is a manufacturer of hygiene products with a growing presence in the Indian market. Under its brand framework, it has developed Femiss, Womanica, ElderFit and Bloom Baby, each designed to address consumer needs across the hygiene care spectrum, from babies to young women and the elderly. While its...more
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Managing DirectorHemalbhai Babubhai Borsadiya
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