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Vinod Texworld Ltd IPO
Vinod Texworld Ltd
₹2,25,600 /2400 sharesMinimum investment
IPO listing details
Listed on
17 Sep '26
Issue price
₹94.00
Listing price
₹94.00
Listing gains
₹0.00 (0.00%)
Exchange
--
IPO details
Minimum investment
₹2,25,600
Price range
₹94 - ₹94
Lot size
1,200
Issue size
42.83 Cr
Face value
10
IPO document
Subscription rate
Qualified Institutional Buyers0.00x
Non-Institutional Investor0.33x
Retail Individual Investor2.57x
Total1.40x
As of 11 Sep'26, 04:55 PM
Schedule
9 Sep 2026
IPO open date
11 Sep 2026
IPO close date
15 Sep 2026
Allotment date
15 Sep 2026
Funds unblock or debit
17 Sep 2026
Tentative listing date
About
Founded in
2012
MD/CEO
Mr Yash Vinod Mittal
Parent organisation
Vinod Texworld Ltd
Vinod Texworld Financials
Revenue
Total Assets
Profit
All values are in ₹ Cr
Strengths & Risks
Strengths
Risks
The company claims to maintain long-standing customer relationships, supporting repeat business, consistent order inflows, and customer retention across retailers, semi-wholesalers, and wholesalers.
The company claims to follow a structured customer service approach covering order placement, product quality, delivery timelines, and complaint resolution, particularly for bulk buyers and large fabric traders.
The company claims to conduct quality tests covering colour fastness, residual shrinkage, stretchability, and skewness to maintain product standards and quality consistency.
The company claims to focus on cost optimisation through improved production methods, supply chain efficiencies, alternative sourcing and Time and Motion studies.
The company claims that its working relationships with suppliers and contractors support procurement continuity, supply chain stability, and smoother business operations.
The company claims to plan production capacity expansion through new machinery installations, particularly in its Dye House segment, to address increasing demand and support growth.
The company claims that its 100-kW solar power plant and proposed additional 1,500-kW installation could reduce energy costs and dependence on conventional power sources.
The company has seen a consistent increase in revenue from operations and PAT. Revenue from operations increased from Rs 200.67 crore in FY23 to Rs 271.49 crore in FY24 to Rs 335.37 crore in FY25, while PAT increased from Rs 0.68 crore in FY24 to Rs 5.30 crore in FY25 to Rs 9.21 crore in FY26.
The company's revenue remains significantly dependent on a limited group of customers. Its top ten customers contributed Rs 170.60 crore (50.84% of revenue from operations) in FY25, Rs 148.71 crore (54.74%) in FY24, and Rs 97.79 crore (48.72%) in FY23. The loss of one or more key customers, or a reduction in their orders, could adversely affect revenue and profitability.
The company has not entered into long-term contracts with its customers and primarily operates based on individual purchase orders. Revenue is therefore exposed to fluctuations in customer demand, buying patterns, and inventory management decisions. If the company is unable to maintain a consistent order pipeline, it could adversely impact the company's revenue, profitability and overall financial performance.
The company has extended a corporate guarantee of Rs 76.27 crore for loans availed by promoter group company Vinod Cotfab Private Limited as of FY25. This guarantee significantly exceeds the company's net worth of Rs 31.98 crore and is approximately 2.38 times its net worth. Any default or delay by the borrower could result in the guarantee being invoked, potentially affecting the company's liquidity, financial condition, and ability to meet its own obligations and raise additional funds.
The company remains heavily dependent on domestic sales, which contributed Rs 332.06 crore (99.01% of revenue from operations) in FY25, Rs 266.64 crore (98.21%) in FY24, and Rs 198.97 crore (99.15%) in FY23. This high domestic concentration exposes the company to India-specific economic, regulatory, competitive, and demand-related risks. Any slowdown in the domestic textile market or adverse developments across key operating geographies could adversely affect revenue growth and profitability.
The company operates only one production unit in Ahmedabad, Gujarat, creating significant operational concentration risk. Since the company lacks alternative manufacturing facilities, a prolonged shutdown or any other sort of disruption could materially affect production, revenue, profitability, cash flows, and financial condition.
The company has significant geographical revenue concentration in Gujarat, which contributed Rs 216.64 crore (64.60%) of revenue in FY25, Rs 166.72 crore (61.41%) in FY24, and Rs 99.09 crore (49.38%) in FY23. Punjab contributed Rs 45.71 crore (13.63%), Rs 46.99 crore (17.31%), and Rs 64.33 crore (32.06%), respectively. Adverse economic, political, environmental, or other regional developments in Gujarat could disproportionately affect demand, operations, supply chains, revenue, and overall business performance.
The company is dependent on a limited number of suppliers, with its top ten suppliers accounting for Rs 274.32 crore (92.12%) of purchases in FY25, Rs 218.09 crore (85.91%) in FY24, and Rs 146.45 crore (85.64%) in FY23. The loss of key suppliers or supply disruptions could affect raw material availability, production schedules, operating costs, and profitability.
The company's inventory turnover ratio has declined from 8.58 in FY23 to 6.82 in FY24 and 5.35 in FY25, indicating a slower turnover of inventory over the period. The business requires adequate raw material and finished goods inventory to meet customer demand, making inaccurate demand forecasting a potential risk.
The company is involved in ongoing tax proceedings. Any adverse rulings in any of these cases could be detrimental to the company’s business prospects.
The company reported negative cash flows from both operating and investing activities. Cash flow from operating activities was negative at Rs 11.85 crore in FY25, Rs 6.68 crore in FY24, and Rs 5.86 crore in FY23. The negative operating cash flows were primarily driven by working capital movements, including increases in trade receivables of Rs 10.88 crore, Rs 11.16 crore and Rs 19.79 crore, respectively, and inventory movements of Rs 14.76 crore, Rs 23.63 crore and Rs 5.19 crore, respectively, partially offset by changes in trade payables and other working capital items. Cash flow from investing activities remained negative at Rs 2.08 crore in FY25, Rs 5.86 crore in FY24 and Rs 5.94 crore in FY23, primarily due to purchases of fixed assets of Rs 2.37 crore, Rs 5.91 crore and Rs 6.22 crore, respectively, along with investment-related outflows. Continued negative cash flows could put pressure on the company's liquidity and financial flexibility.
The company has contingent liabilities amounting to Rs 77.27 crore as of FY25. If any of these contingent liabilities materialise, it could harm the company’s financial performance/whatever is mentioned in the prospectus.
As of FY25, the company’s trade receivables were Rs 87.37 crore. Any failure to collect these receivables on time or at all can negatively impact the business and its financial condition.
As of FY25, the company had outstanding financial indebtedness of Rs 66.28 crore. Any failure to service or repay these loans can harm the company’s operations and financial position.
Application details
For Vinod Texworld IPO, eligible investors can apply as Individual investor.
| Apply as | Price band | Apply range | Lot size |
|---|---|---|---|
| Individual investor | ₹94 - ₹94 | ₹2 - ₹5 Lakhs | 1200 |
About
Objective of Vinod Texworld IPO Proceeds
|
Particulars |
Estimated Amount (in ₹ Cr.) |
|
Expansion of existing plant |
6.39 |
|
Repayment of loan |
7.15 |
|
To meet working capital requirements |
20.35 |
|
General corporate purposes. |
[.] |
|
Total |
[.] |
Book Running Lead Managers & Registrar of Vinod Texworld IPO
|
Book Running Lead Managers |
Fasttrack Finsec |
|
Registrar to the Issue |
KFin Technologies Limited |
Key Performance Indicators (KPIs) of Vinod Texworld Ltd.
|
KPI |
Value (for the year ended March 31, 2025) |
|
ROE (%) |
24.31 |
|
ROCE (%) |
31.80 |
|
EBITDA Margin (%) |
6.66 |
|
PAT Margin (%) |
3.04 |
|
Debt-to-equity Ratio |
1.65 |
|
EPS (Pre IPO) (₹) |
7.96 |
|
Return on Net Worth (RoNW) (%) |
24.31 |
|
Net Asset Value (NAV) per Equity Share (₹) |
36.90 |
Vinod Texworld IPO Contact Details
|
Company Name |
Vinod Texworld Limited |
|
Registered Office |
85/2, Saijpur, Gopalpur, Opp. Shanti Process, Piplaj Pirana Road, Ahmedabad, Gujarat, India, 382405 |
|
Phone |
|
|
|
+91 706903082 |
|
Website |
Vinod Texworld IPO Registrar Contact Details
|
Company Name |
KFin Technologies Limited |
|
Phone |
+91 40671 62222 / 1800 3094001 |
|
|
|
|
Website |