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Shree Ram Twistex IPO
Shree Ram Twistex Ltd
₹13,680 /144 sharesMinimum investment
IPO details
Minimum investment
₹13,680
Price range
₹95 - ₹104
Lot size
144
Issue size
110.24 Cr
Face value
10
IPO document
Subscription rate
Data will be available soon
Schedule
23 Feb 2026
IPO open date
25 Feb 2026
IPO close date
26 Feb 2026
Allotment date
26 Feb 2026
Funds unblock or debit
2 Mar 2026
Tentative listing date
About
Founded in
2013
MD/CEO
Mr Bhaveshbhai Bhikhubhai Ramani
Parent organisation
Shree Ram Twistex Ltd
Shree Ram Twistex Financials
Revenue
Total Assets
Profit
All values are in ₹ Cr
Strengths & Risks
Strengths
Risks
The company claims to operate a fully integrated spinning manufacturing facility at Gondal, Gujarat, covering processes from cotton bale procurement to finished yarn packaging under one roof. Its infrastructure includes compact ring spinning systems, high-speed autoconers, contamination clearers, electronic yarn clearers, automated vacuum systems, and centralised air-conditioning with air filtration.
The company claims to have built long-standing relationships with institutional customers, such as Welspun Living Limited and Jindal Worldwide Limited, along with other bulk purchasers. During the six months ended September 30, 2025, and in the last three fiscals, it served between 45 and 49 customers. Of these, it has been associated with around six key customers and 26 non-key customers for more than four years. As of September 30, 2025, it was supported by a network of eight third-party brokers and agents who assist in identifying customers, arranging orders, and facilitating transactions, allowing the company to maintain a lean internal sales structure while expanding market reach.
The company claims to operate its manufacturing facility on a land parcel of about 29,947 sq. m in Rajkot, Gujarat, of which about 10,167.94 sq. m is built-up, leaving scope for future expansion. As of September 30, 2025, the facility has an installed capacity of 9,855 MT per annum and is located near National Highway 47, with access to road, rail, and port networks, as well as proximity to ginning units and raw cotton suppliers. It also claims to maintain dedicated storage infrastructure within the facility for raw materials, semi-finished goods, and finished products, including controlled storage for cotton bales and organised zones for loading and dispatch. The inventory system is structured to support buffer stock maintenance and timely order fulfilment.
The company has witnessed a consistent increase in revenue from operations and profit after tax (PAT). Revenue from operations increased from Rs 213.10 crore in FY23 to Rs 231.59 crore in FY24 and Rs 255.04 crore in FY25. PAT increased from Rs 2.05 crore in FY23 to Rs 6.55 crore in FY24 and Rs 7.99 crore in FY25.
The top customer accounted for Rs 37.73 crore (28.57 percent) of the company’s revenue for the period ended September 30, 2025; Rs 83.26 crore (32.97 percent) in FY25; Rs 101.65 crore (44.35 percent) in FY24, and Rs 78.43 crore (37.26 percent) in FY23. The company primarily operates on a purchase order basis without long-term contracts. So, loss of this key customer or reduction in orders could adversely affect its business, results of operations, cash flows, and financial condition.
The company’s manufacturing facility and registered office are located in Rajkot, Gujarat, and a significant portion of its revenue is derived from the state. It accounted for Rs 115.85 crore (87.72 percent) of the revenue for the period ended September 30, 2025; Rs 236.08 crore (93.48 percent) in FY25; Rs 190.58 crore (83.14 percent) in FY24; and Rs 180.17 crore (85.59 percent) in FY23. This operational and revenue concentration exposes the company to regional risks such as regulatory changes, natural calamities, infrastructure disruptions, or social unrest within the state.
The top supplier accounted for Rs 27.77 crore (27.37 percent) of the company’s revenue for the period ended September 30, 2025; Rs 49.91 crore (32.11 percent) in FY25; Rs 38.30 crore (22.07 percent) in FY24; and Rs 28.65 crore (16.84 percent) in FY23. The company generally operates through spot purchases and short-term arrangements rather than long-term supply contracts. So, disruption in supply, pricing disputes, financial stress, or operational issues affecting this key supplier could adversely affect its production schedules, business operations, cash flows, and financial condition.
Carded yarn accounted for Rs 37.74 crore (28.57 percent) of the company’s revenue for the period ended September 30, 2025; Rs 129.52 crore (51.34 percent) in FY25; Rs 112.11 crore (48.99 percent) in FY24, and Rs 105.94 crore (50.37 percent) in FY23. Any decline in demand for carded yarn, pricing pressure due to excess industry capacity, or shifts toward alternative yarn types could materially affect sales volumes and margins.
The company reported negative cash flow from operating activities amounting to Rs 4.91 crore in FY24. This was primarily attributed to increased working capital requirements, particularly a rise in trade receivables. If operating cash flows remain volatile or turn negative again, it could affect the company’s ability to meet working capital needs or service debt without external funding, which may adversely impact its financial condition.
As of September 30, 2025, the company had trade receivables of Rs 27.22 crore. The company does not follow a formal written credit policy, which may increase exposure to inconsistent recovery practices. Any delays or defaults in customer payments could increase working capital requirements and adversely affect its cash flows, financial condition, and overall business operations.
Raw material expenses, primarily cotton bales, accounted for Rs 96.34 crore (72.94 percent) of the company’s revenue for the period ended September 30, 2025; Rs 168.90 crore (66.23 percent) in FY25; Rs 176.31 crore (76.13 percent) in FY24; and Rs 155.71 crore (73.07 percent) in FY23. Cotton prices are influenced by factors such as monsoon patterns, crop output, government MSP revisions, and global demand-supply dynamics. Any significant increase in cotton prices or disruption in availability may not be immediately passed on to customers, which could compress margins and adversely affect its business and financial condition.
The company is involved in certain ongoing legal proceedings. The company’s business prospects could be hit in case of adverse judgments in any of these cases.
As of September 30, 2025, the company had outstanding financial indebtedness of Rs 27.57 crore. Failure to service or repay these loans could harm the company’s operations and financial position.
Application details
For Shree Ram Twistex IPO, eligible investors can apply as Regular.
| Apply as | Price band | Apply range | Lot size |
|---|---|---|---|
| Regular | ₹95 - ₹104 | Upto ₹2 Lakhs | 144 |
| High Networth Individual | ₹95 - ₹104 | ₹2 - ₹5 Lakhs | 144 |