Sihora Industries IPO

Sihora Industries Ltd

₹1,32,000 /2000 sharesMinimum Investment

Sihora Industries IPO Details

Bidding DatesMin. InvestmentLot SizePrice Range
10 Oct ‘25 - 14 Oct ‘25₹2,64,0002,000₹66 - ₹66
Issue SizeIPO Doc
10.56Cr
RHP PDF

About Sihora Industries

Sihora Industries Limited is engaged in the manufacturing and sale of narrow woven fabrics, lace, digitally printed narrow fabrics, woven labels, tapes, zippers, elastics, and other textile products, including technical textiles, for use in fashion and industrial sectors. The company produces customisable products for brands, retailers, wholesalers, and end consumers, serving both proprietary and contract customers. The company operates an integrated textile manufacturing facility in Surat, Gujarat, which handles end-to-end processes such as yarn processing, weaving, digital printing, embroidery, dyeing, and finishing. The facility is equipped with rapier and needle looms, electronic jacquard weaving, and digital printing infrastructure for reactive and sublimation prints.;
Founded in
2023
Managing director
Mr Gautam Vallabhbhai Sihora
Parent organisation
Sihora Industries Ltd

Strengths & Financials of Sihora Industries

Strengths
Risks
The company’s manufacturing facility is located in Surat, Gujarat, which claims to provide rich logistical connectivity. Raw materials are sourced locally, and skilled and semi-skilled labour is readily available, supporting uninterrupted operations and reducing procurement time and costs.
Sihora Industries claims to maintain long-standing relationships with customers and suppliers. These relationships help secure repeat business, support stable demand, and assist in monitoring market trends for potential product or market expansion.
The company claims to achieve cost-efficient production through efficient procurement policies and strong supplier linkages. These practices enable the timely fulfilment of large and varied customer orders.
Sihora Industries claims to sell products to both domestic and international customers, gaining insights into trends, preferences, and competitor strategies. This knowledge is used to improve product quality, processes, and overall competitiveness.
The company’s order-driven business model claims to allow optimal utilisation of manufacturing and processing facilities. Sihora Industries states that this model has supported growth and can scale in response to increased demand.
The company claims to regularly optimise its production processes, upgrade employee skills, and modernise machinery. These measures are intended to improve operational efficiency and maximise the use of resources.
The company has witnessed a consistent increase in profit after tax (PAT). It increased from Rs 0.30 crore in FY23 to Rs 0.60 crore in FY24 and Rs 1.87 crore in FY25.
Sihora Industries’ manufacturing and operational facilities are concentrated in Surat, Gujarat, including its registered office, processing units, and warehouses. Any adverse local developments could interrupt manufacturing and supply chain activities. Such disruptions could materially impact the company’s production schedules, revenue generation, customer relationships, and overall financial performance.
The top five customers accounted for Rs 2.88 crore (49.68 percent) of the company’s revenue for the period ended August 31, 2025; Rs 8.30 crore (57 percent) in FY25; Rs 3.53 crore (56.82 percent) for the period October 18, 2023, to March 31, 2024; Rs 2.60 crore (48.57 percent) for the period April 1, 2023, to October 17, 2023; and Rs 5.31 crore (43.93 percent) in FY23. Any failure to retain these key customers, expand the customer base, or loss of business from these clients can adversely affect the company’s business and financial standing.
The top five suppliers accounted for Rs 3.75 crore (67.50 percent) of the company’s total purchases for the period ended August 31, 2025; Rs 3.81 crore (43.30 percent) in FY25; Rs 2.43 crore (58.60 percent) for the period October 18, 2023, to March 31, 2024; Rs 1.27 crore (58.33 percent) for the period April 1, 2023, to October 17, 2023; and Rs 3.36 crore (50.60 percent) in FY23. Furthermore, the company does not have any long-term contracts with these key suppliers. Any disruption in supplies from one or more of these suppliers could adversely affect the company’s business and finances.
The company reported negative cash flow from operating activities amounting to Rs 0.31 crore for the period ended August 31, 2025, Rs 0.14 crore in FY25, and Rs 0.08 crore in FY23. Additionally, negative cash flow from investing activities amounted to Rs 0.06 crore for the period ended August 31, 2025, Rs 2.10 crore in FY25, and Rs 2.73 crore for the period August 10, 2023, to March 31, 2024. The company also experienced negative cash flow from financing activities amounting to Rs 1.24 crore for the period April 1, 2023, to October 17, 2023, and Rs 0.20 crore in FY23. Any sustained negative cash flows could impact the company’s growth and overall business performance.
Sihora Industries’ sales volumes and customer demand may be influenced by indirect and cyclical patterns, including festival-related spending, election cycles, or broader macroeconomic trends such as inflation, interest rates, or political uncertainty. The company also serves sectors like construction, real estate, infrastructure, textiles, and consumer durables, which have inherent demand cycles. Any adverse fluctuations in customer purchasing patterns or economic conditions could lead to underutilisation of production capacity, working capital inefficiencies, or volatility in revenues.
Sihora Industries’ operations are heavily dependent on polyester yarn. It accounted for Rs 3.34 crore (60.16 percent) of the company’s total raw material consumption in the period ended August 31, 2025; Rs 4.58 crore (52.12 percent) in FY25; Rs 1.97 crore (47.62 percent) for the period August 10, 2023, to March 31, 2024; Rs 1.11 crore (50.99 percent) for the period April 1, 2023, to October 17, 2023; and Rs 4.08 crore (61.47 percent) in FY23. Any disruption in the availability, quality, or price of polyester yarn due to crude oil price fluctuations, currency exchange rates, trade restrictions, or supplier-specific issues could increase production costs or interrupt manufacturing activities.
The company and its promoter are involved in certain ongoing legal proceedings. Any adverse judgments in any of these cases could be detrimental to the company’s business prospects.
Sihora Industries was incorporated on August 10, 2023, and has a limited operating history. As a result, the company’s historical financial performance and business operations may not provide a reliable indication of future results. Any inability to establish consistent revenue streams or achieve operational stability could impact the company’s growth prospects and financial performance.
As of August 31, 2025, the company had financial indebtedness of Rs 5.71 crore. Any failure to service or repay these loans can hurt the company’s operations and financial position.

Sihora Industries Financials

*All values are in Rs. Cr
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Application Details of Sihora Industries IPO

Apply asPrice bandApply Range
Individual investor66 - 66₹2 - 5 Lakh
For Sihora Industries IPO, eligible investors can apply as Individual investor.