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Shlokka Dyes IPO
Shlokka Dyes Ltd
₹1,14,000 /1200 sharesMinimum Investment
Shlokka Dyes IPO Details
| Bidding Dates | Min. Investment | Lot Size | Price Range |
|---|---|---|---|
| 30 Sep ‘25 - 6 Oct ‘25 | ₹2,28,000 | 1,200 | ₹95 - ₹100 |
| Issue Size | IPO Doc |
|---|---|
| 63.50Cr | RHP PDF |
About Shlokka Dyes
Founded in
2021
Managing director
Mr. Vaibhav P Shah
Parent organisation
Shlokka Dyes Ltd
Strengths & Financials of Shlokka Dyes
Strengths
Risks
The company’s manufacturing facilities are ISO 9001:2015 certified for quality management systems, ISO 14001:2015 certified for environmental management systems, and ISO 45001:2018 certified for occupational health and safety systems.
The company claims that its facility uses modern technology and advanced methods to produce dyes efficiently and safely while maintaining high quality. It further states that its integrated production system provides full control over product quality, costs, and production timelines.
The plant is located in Saykha, Gujarat, within the Petroleum, Chemicals & Petrochemical Investment Region (PCPIR), developed under the Gujarat Special Investment Region Act, 2009. The company states that this location offers easy access to skilled labour, raw materials, technology, and transportation, while supporting strict compliance with environmental, health, and safety standards.
Shlokka Dyes claims to focus on delivering high-quality, durable, and versatile products that meet the needs of customers across different industries. The company states that all products are manufactured in line with international standards, including Global Organic Textile Standard (GOTS) and Zero Discharge of Hazardous Chemicals (ZDHC) certifications.
The company has witnessed a consistent increase in its revenue from operations and profit after tax (PAT). Revenue from operations increased from Rs 8.77 crore in FY23 to Rs 61.27 crore in FY24 and Rs 103.21 crore in FY25. PAT increased from Rs 0.60 crore in FY23 to Rs 4.92 crore in FY24 and Rs 10.01 crore in FY25.
The company reported negative cash flows from operating activities amounting to Rs 10.52 crore in FY24. If cash outflows continue to exceed inflows, the company may face liquidity challenges in the future.
The company’s manufacturing facilities are regularly inspected by the Gujarat Pollution Control Board (GPCB) for compliance with norms related to treated effluent discharge and emissions. Any negative findings in the board’s audits could lead to sudden restrictions on the company’s manufacturing processes, which could adversely affect the company’s operations.
Shlokka Dyes has a short track record in manufacturing. Although established in 2021, production began only in 2022. Such limited experience could affect its understanding of industry trends, market demand, and customer preferences, which could negatively impact its operations and financial performance.
The production process involves handling hazardous raw materials such as vinyl sulphone, HCl, sodium nitrite, H-acid, and sodium bicarbonate. Accidents like leaks or chemical spills could cause serious harm, disrupt operations, and expose the company to civil or criminal liabilities.
The business operates in a highly regulated sector that requires strict adherence to environmental, health, and safety laws. Any failure to meet these standards could result in penalties, fines, or even closure notices from regulatory authorities.
The company derives a significant portion of its revenue from Gujarat. The state accounted for Rs 80.87 crore (78.35 percent) of the company’s total revenue in FY25, Rs 51.70 crore (84.37 percent) in FY24 and Rs 8.77 crore (100 percent) in FY23. Any adverse political, economic or social developments in this region could negatively impact the company’s operations and finances.
The company’s top 5 suppliers accounted for Rs 63.92 crore (69.15 percent) of the company’s total purchases in FY25, Rs 20.90 crore (41.88 percent) in FY24 and Rs 7.17 crore (66.62 percent) in FY23. Any disruption in supplies from one or more of these suppliers could adversely affect the company’s business and finances.
The company’s top 5 customers accounted for Rs 97.28 crore (94.25 percent) of the company’s total revenue in FY25, Rs 57.61 crore (94.02 percent) in FY24 and Rs 8.77 crore (100 percent) in FY23. The top 1 customer, alone, accounted for Rs 55.04 crore (53.32 percent) of the company’s total revenue in FY25, Rs 41.72 crore (68.09 percent) in FY24 and Rs 8.50 crore (96.91 percent) in FY23. Any loss of any of these customers, a failure to retain them, or a decline in business from them would adversely affect the company’s operations and financial condition.
The company, its promoters, directors, and group entities, are involved in ongoing civil and criminal litigation. Any adverse judgment in any of these cases could be detrimental to the company’s business prospects.
Equinox Impex, the proprietorship firm of the company’s promoter and managing director, is engaged in the same line of business as Shlokka Dyes. In the absence of a non-compete agreement between the two firms, conflicts of interest could arise in the future, which may adversely affect Shlokka’s business operations and finances.
As of FY25, the company has total financial indebtedness amounting to Rs 27.92 crore. Any failure to service or repay these loans can harm the company’s operations and financial position.
Shlokka Dyes Financials
*All values are in Rs. Cr
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Application Details of Shlokka Dyes IPO
| Apply as | Price band | Apply Range |
|---|---|---|
| Individual investor | ₹95 - 100 | ₹2 - 5 Lakh |
For Shlokka Dyes IPO, eligible investors can apply as Individual investor.