Lohia Corp IPO opens Jul 23 as profit surges to ₹193.45 crore
Lohia Corp Limited has filed its DRHP for a pure OFS IPO opening July 23, 2026, with profit after tax surging to ₹193.45 crore in FY2026. The company holds a dominant 40.7% share in the domestic woven raffia machines market and operates globally with six manufacturing facilities. Investors should consider risks including high revenue concentration and raw material price volatility.
*this image is generated using AI for illustrative purposes only.
Lohia Corp Limited, a leading global manufacturer of machinery for technical textiles, has filed its Draft Red Herring Prospectus for a pure Offer for Sale (OFS) scheduled to open on July 23, 2026. The company commands a 40.7% share of the domestic woven raffia machines market by value in Fiscal 2025 and a 15.4% share of the global market by value in 2024. The IPO will close on July 27, with allotment on July 28 and listing on July 30. As a pure OFS, Lohia Corp will not receive any proceeds from the issue; all funds will go to the selling shareholders.
Financial Performance
The company has demonstrated strong financial growth over the past two years. Revenue from operations increased from ₹1,165.81 crore in FY2024 to ₹1,717.00 crore in FY2026, representing a growth of approximately 47.3%. Profit after tax (PAT) surged from ₹29.76 crore in FY2024 to ₹193.45 crore in FY2026. The PAT margin expanded significantly from 2.55% in FY2024 to 11.27% in FY2026, indicating improved operating leverage.
| Metric | FY2024 (₹ Cr) | FY2025 (₹ Cr) | FY2026 (₹ Cr) |
|---|---|---|---|
| Revenue from Operations | 1,165.81 | 1,376.87 | 1,717.00 |
| Total Expenses | 1,133.96 | 1,224.05 | 1,463.41 |
| Profit Before Tax | 39.64 | 162.43 | 265.04 |
| Total Profit / PAT | 29.76 | 117.84 | 193.45 |
| Total Assets | 873.49 | 967.60 | 1,304.65 |
| Total Equity | 249.60 | 371.59 | 525.73 |
Operational Highlights
Lohia Corp operates six manufacturing facilities across India, the USA, and Italy, supplying products to customers in approximately 100 countries. The company holds 71 patents in India and 56 patents outside India. Woven raffia machines contributed 88.16% of revenue from operations in FY2026, highlighting a concentration in this specific segment. Overseas operations contributed 42.18% of revenue in FY2026, down from 58.18% in FY2025.
Risk Factors
Investors should note the company's heavy dependence on the woven raffia machines market, which accounts for the majority of its revenue. Additionally, the cost of materials consumed represented 53.23% of revenue in FY2026, exposing the company to raw material price volatility. The company also reported unhedged foreign currency exposure of ₹117.00 million in FY2026. The net working capital requirement stood at 84 days in Fiscal 2026.
How will the company utilize its strong cash reserves post-IPO to diversify beyond the concentrated woven raffia machines segment?
What strategies will management implement to mitigate the risks associated with unhedged foreign currency exposure given the volatility in overseas revenue?
Can the significant margin expansion achieved in FY2026 be sustained as raw material costs represent over half of total revenue?
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