Ashutosh Fibre IPO: Moving Up the Value Chain
Ashutosh Fibre manufactures specialised technical yarns used in defence, PPE, automotive, filtration, industrial fabrics and geotextiles.
Key Positives
1. Profitability Improving (FY24–FY26)
Revenue: ₹109.9 Cr → ₹117.4 Cr
EBITDA: ₹16.1 Cr → ₹31.1 Cr
EBITDA Margin: 14.7% → 26.5%
PAT: ₹7 Cr → ₹16 Cr
ROCE: 26.3% in FY26
Growth is increasingly driven by better product mix and higher-value yarns.
2. Capacity Nearly Full
FY26 utilisation reached 96.5% of 3,750 MT capacity. Expansion is planned at its existing Gujarat facility.
3. Moving Into Fabric
Entering modacrylic technical fabrics, using its own yarn as raw material. Target: ~20,000 metres/month.
4. Strong Exports
Exports contributed 39% of FY26 revenue, offering further global growth potential.
The Big Story
Volume → Value | Yarn → Fabric | Domestic → Global
IPO at ~12.5× PE makes Ashutosh Fibre an interesting play on the technical textiles growth story.
August 31, 2026 2.5K 3
