The company has an integrated manufacturing setup, with most garment production processes carried out in-house. Knitting and dyeing are undertaken through external job workers, while cutting, printing, stitching and finishing are conducted at its own facility.
The company has a diversified product range with customisation capabilities, including t-shirts, joggers, co-ords, kidswear and casualwear. Its production setup can handle different fabrics, prints, embroidery, special washes and custom trims, and it can cater to both bulk and small-batch orders.
The company says it has a multi-stage quality control process managed by a third-party quality assurance partner. The process includes raw material checks, in-line inspections during stitching and finishing, and final audits based on the Acceptable Quality Limit (AQL) before dispatch.
The company claims to follow an order-driven production model, with manufacturing generally commencing after buyer approval of samples and receipt of confirmed purchase orders. This allows production and raw material procurement to be planned according to confirmed requirements and reduces the risk of excess production and unsold inventory.
The company claims to have an experienced management and technically trained workforce. Its management team has experience in textile manufacturing, while its production workforce includes pattern masters, stitching operators, merchandisers and quality assurance personnel.
The company’s manufacturing facility is located in Barasat, West Bengal, near Kolkata. The location provides access to road, rail and port infrastructure, while the region also has a pool of workers familiar with garment manufacturing and stitching-related activities.
The company claims to have established relationships with its B2B clients, including large retail customers. According to the prospectus, some of these clients have been associated with the company for multiple years, contributing to recurring orders and client retention.
The company has witnessed a consistent increase in its revenue from operations and profit after tax (PAT). Revenue from operations increased from Rs 21.85 crore in FY23 to Rs 28.88 crore in FY24 and Rs 60.25 crore in FY25. PAT increased from Rs 0.36 crore in FY23 to Rs 0.48 crore in FY24 and Rs 5.81 crore in FY25.
The company’s top 10 suppliers contributed Rs 18.22 crore (47.15%), Rs 15.36 crore (55.81%), and Rs 9.51 crore (55.25%) to its total raw material purchases in FY25, FY24, and FY23, respectively. Any disruption in the supply of raw materials or increase in raw material and other input costs due to commodity price fluctuations, availability constraints, currency movements, changes in consumer demand, government policies or regulatory sanctions could adversely affect the company’s pricing, supply, business and financial condition.
The company’s top 10 customers contributed Rs 56.16 crore (93.22%), Rs 28.69 crore (99.35%), and Rs 21.85 crore (99.99%) to total sales in FY25, FY24, and FY23, respectively. Any loss of, or significant reduction in orders from these key customers could hurt the company’s sales, cash flows, profitability and operational stability.
The cost of raw material consumed amounted to Rs 38.86 crore, Rs 23.80 crore, and Rs 19.05 crore in FY25, FY24, and FY23, respectively, representing 64.46%, 82.27%, and 87.15% of total income. Any increase in fabric prices due to changes in yarn rates, fuel and transportation costs, demand and supply conditions, duties, taxes or trade restrictions, particularly as the company does not have fixed supply agreements with suppliers, may increase its production costs and adversely affect its profit margins and financial performance.
A significant portion of the company’s domestic revenue is concentrated in West Bengal and Karnataka, which contributed Rs 30.28 crore (50.26%) and Rs 23.04 crore (38.24%), respectively, in FY25. Any adverse political or geographical developments, increased competition, changes in customer demand, or loss of business from these states could adversely affect the company’s revenues and profitability.
The company’s trade receivables increased from Rs 6.42 crore as of March 31, 2023, to Rs 5.34 crore as of March 31, 2024, and Rs 17.33 crore as of March 31, 2025. Any delay or default in collecting these receivables could adversely affect the company’s cash flows, liquidity, working capital requirements and financial performance.
The company is involved in certain outstanding legal proceedings. Any adverse decisions in these matters could result in demands, interest or penalties, affect the company’s cash flows and profit or loss, and divert management time and attention, thereby adversely affecting its business, prospects, results of operations and financial condition.
The company operates in a fragmented garment manufacturing industry with competition from both organised and unorganised players. Unorganised manufacturers with lower overheads may offer products at lower prices, creating pricing pressure for the company and potentially affecting its profit margins and market share. Also, this is an industry
As of March 31, 2025, the company had total outstanding borrowings of Rs 18.21 crore. Any failure to service or repay these borrowings could adversely affect the company’s business, financial condition and results of operations.