Incorporated in 2005, Sanathan Textiles Limited is a polyester yarn manufacturer and a global supplier of Cotton Yarn. The company's business is divided into three separate yarn business verticals, consisting of (a) Polyester yarn products, (b) Cotton yarn products, and (c) Yarns for technical textiles and industrial uses. These technical textiles are used in various sectors such as automotive, healthcare, construction, sports and outdoor activities, and protective clothing.
As of September 30, 2024, the company had more than 3,200 active varieties of yarn products (i.e., yarn products manufactured by us from April 1, 2021, to September 30, 2024) and more than 45,000 stock-keeping units (SKUs). It also can manufacture a diversified product portfolio of more than 14,000 varieties of yarn products and more than 190,000 SKUs that are used in various forms and for varied end uses.
As of June 30, 2024, Fiscal 2024, and Fiscal 2023, Sanathan Textiles Limited exported its products to 14, 27 and 29 countries.
As of June 30, 2024, the company had more than 925 distributors in 7 countries, including India, Argentina, Singapore, Germany, Greece, Canada, and Israel.
The company's manufacturing unit is located in Silvassa. The company's clients comprise several multinational, regional and local companies such as Welspun India Limited, Valson Industries Limited, G.M. Fabrics Private Limited, Premco Global Limited, Creative Garments Textile Mills Private Limited, Banswara Syntex Limited, AYM Syntex Limited, Techno Sportswear Private Limited, Haren Textiles Private Limited, Khosla Profil Private Limited, Tulip Elastics Private Limited and more.
Company Strengths:
- The company is one of the few companies (amongst our peer group) in India with a presence across the polyester, cotton and technical textile sectors.
- Focus on the product development of new products through process innovation.
- Fully integrated Yarn manufacturing plant set up at a strategic location with equipment supplied by domestic and globally renowned players.
- Long-standing association with leading consumer brands with a low customer concentration.
- Deep knowledge and understanding of optimal product assortment and strong supplier network enabling procurement at predictable and competitive pricing, leading to an overall efficient cycle.
- Healthy financial performance
- Experienced management team with a proven track record
- Our Strategies Expanding our manufacturing capacity.
- Enhance value addition in existing products and development of new products.
- Harnessing digitization and technology in production processes with a focus on energy efficiency and sustainable practices.
- Cotton yarn manufacturing process
- Yarns for technical textiles and industrial end-use
| Purpose | Amount (₹ Cr) |
|---|---|
| Repayment and/ or pre-payment, in full or part, of certain borrowings availed by the Company; | — |
| Investment in our subsidiary viz. Sanathan Polycot Private Limited, for repayment and/ or pre-payment, in full or part, of certain borrowings availed by our subsidiary viz. Sanathan Polycot Private Limited; and | — |
| General corporate purposes. | — |
| Metric | 30 Jun 2024 | 31 Mar 2024 | 31 Mar 2023 |
|---|---|---|---|
| Total Assets | 2,530 | 2,204 | 1,907 |
| Revenue | 788 | 2,980 | 3,345 |
| PAT | 50 | 134 | 153 |
| Net Worth | 1,324 | 1,274 | 1,140 |
| Total Borrowing | 645 | 380 | 281 |
| Category | Sub (x) | Offered | Bid For |
|---|---|---|---|
| QIB | — | 8,566,977 (50%) | — |
| NII / HNI | — | 2,570,094 (15%) | — |
| Retail (RII) | — | 5,996,885 (35%) | — |
| Total | — | 17,133,956 (100%) | — |
* Amount calculated at upper price band (₹321) · ** Total includes all investor categories
- 1 Initiation of Refund 26 Dec 2024
- 2 Credit of Shares to Demat 26 Dec 2024
- 3 Lock-in Period (30%) January 23, 2025
- 4 Lock-in Period (50%) March 24, 2025
- Retail allocation is good at 35% of the total offering.
- HNI/NII demand is good at 15%.
- Institutional (QIB) interest is strong at 50%.
- The IPO P/E of 14x reflects a strong valuation relative to typical market ranges.
- Pre-issue EPS of ₹19 compares to post-issue EPS of ₹24 after dilution.
This IPO shows moderate investor interest. Review financial details and compare valuation with industry peers before investing.
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