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Arunaya Organics IPO
Arunaya Organics Ltd
₹1,10,000 /2000 sharesMinimum Investment
Arunaya Organics IPO Listing Details
| Listed On | Issue Price | Listing Price | Listing Gains |
|---|---|---|---|
| -- | ₹58.00 | ₹30.10 | -₹27.90 (48.10%) |
Arunaya Organics IPO Details
| Bidding Dates | Min. Investment | Lot Size | Price Range |
|---|---|---|---|
| 29 Apr ‘25 - 2 May ‘25 | ₹1,10,000 | 2,000 | ₹55 - ₹58 |
| Issue Size | IPO Doc |
|---|---|
| 33.99Cr | RHP PDF |
Subscription rate
As of 02 May'25, 04:00 PM
| Qualified Institutional Buyers | 1.01x |
| Non-Institutional Investor | 1.43x |
| Retail Individual Investor | 3.73x |
| Total | 2.15x |
About Arunaya Organics
Founded in
2010
Managing director
Mr Vinod Agrawal
Parent organisation
Arunaya Organics Ltd
Strengths & Financials of Arunaya Organics
Strengths
Risks
The company is ISO 9001:2015 certified for quality management systems, which cover the manufacture, supply, and export of dyestuffs and intermediates. It is also ISO 14001:2015 certified for environmental management systems in the same operational areas.
Arunaya Organics offers a broad portfolio of dye products, including acid dyes, basic dyes, direct dyes, solvent dyes, intermediates, and reactive dyes. With over six product categories and various colour options, the company claims to be positioned to serve a wide range of customer requirements across industries.
The company has experienced growth in profit after tax (PAT) in the last fiscal year. It increased from Rs 1.33 crore in FY22 and Rs 1.73 crore in FY23, to Rs 4.06 crore in FY24.
Arunaya Organics is heavily dependent on its top 10 customers for its revenue from operations. They contributed Rs 36.66 crore (63.38 percent), Rs 45.34 crore (72.86 percent), Rs 58.96 crore (77.73 percent), and Rs 46.91 crore (76.22 percent) to the company’s revenue for the period ended December 31, 2024, and the FY24, FY23, and FY22, respectively. Any failure to retain these clients, expand the customer base, or a loss of business from them can adversely affect the company’s business and financial standing.
Arunaya Organics is significantly dependent on a third party, Chinmay Chemicals Private Limited (Chinmay), for job work. It contributed Rs 53.14 crore (91.87 percent), Rs 49.78 crore (80.00 percent), Rs 62.97 crore (83.02 percent), and Rs 33.72 crore (54.80 percent) of the company’s revenue from operations for the period ended December 31, 2024, and the FY24, FY23, and FY22, respectively. Any disruption in the business from Chinmay can negatively affect the company’s business and financial condition.
Arunaya Organics' manufacturing unit is located in Gujarat. Any disruptions in the business environment of the state could adversely affect the company’s operations and financial condition.
A large portion of Arunaya Organics’ revenue is derived from the sale of direct dyes and intermediates. They accounted for 63.48 percent, 70.58 percent, 66.29 percent, and 64.35 percent of the total revenue in the period ending December 31, 2024, and FY24, FY23, and FY22, respectively. This heavy reliance on these product segments exposes the company to risks such as declining demand, increased competition from domestic and international manufacturers, fluctuations in raw material prices, and regulatory changes.
A significant portion of Arunaya Organics’ revenue is derived from the paper and textile industry, which accounted for Rs 42.32 crore (73.39 percent), Rs 40.89 crore (65.75 percent), Rs 44.45 crore (58.81 percent), and Rs 33.03 crore (53.87 percent) of total revenue for the period ended December 31, 2024, FY24, FY23, and FY22, respectively. Any economic slowdown or loss of business from customers within this industry could have an adverse impact on the company’s financial performance.
The company has previously experienced delays in filing and paying statutory and regulatory dues, particularly concerning Goods and Services Tax (GST), Employees Provident Fund (EPF), Employee Insurance, and Professional Tax. These delays were largely due to oversight by the staff or accountants responsible for making payments, which led to filing returns and payments with penalties.
Arunaya Organics, its promoters, directors, and group companies are involved in certain ongoing legal proceedings. Any adverse judgments in any of these cases could be detrimental to the company’s business prospects, reputation, and financial condition.
Arunaya Organics derives a significant portion of its domestic revenue from Gujarat, which accounted for Rs 51.38 crore (88.82 percent), Rs 52.93 crore (85.06 percent), Rs 47.78 crore (62.99 percent), and Rs 40.43 crore (65.69 percent), for the period ended December 31, 2024, FY24, FY23, and FY22, respectively. Any adverse developments in this region could significantly impact the company’s business.
Arunaya Organics has reported negative cash flows from investing activities amounting to Rs 2.32 crore in the period ended December 31, 2024, Rs 0.46 crore in FY24, Rs 0.13 crore in FY23, and Rs 4.51 crore in FY22. After falling sharply in FY24 compared to FY22, it again shot up in the nine months to December 31, 2024. If cash outflows continue to exceed inflows, the company may face liquidity challenges in the future.
As of January 31, 2025, the company had outstanding financial indebtedness of Rs 12.99 crore. Any failure to service or repay these loans can harm the company’s operations and financial position.
Arunaya Organics Financials
*All values are in Rs. Cr
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Application Details of Arunaya Organics IPO
| Apply as | Price band | Apply upto |
|---|---|---|
| Regular | ₹55 - 58 | ₹2 - 5 Lakh |
| High Networth Individual | ₹55 - 58 | ₹2 - 5 Lakh |
For Arunaya Organics IPO, eligible investors can apply as Regular.