The business has a long operating history in textiles, with the company's website highlighting over 40 years of textile experience and more than 15 years focused on technical textiles.
Its product portfolio includes filtration, heat- and flame-resistant, antistatic, aramid-based and high-tenacity polyester yarns.
Ashutosh Fibre follows a B2B model, supplying industrial manufacturers, processors and institutional buyers rather than selling directly to retail consumers.
Its technical yarns are used across multiple industrial applications, giving the business exposure to different end-use segments.
The IPO comprises a fresh issue of up to 61.248 lakh equity shares, with the proposed listing on NSE Emerge. In this IPO analysis we will review its financial performance, strength and risks, industry outlook, gmp details, and subscription details with listing updates.
Briefs of Ashutosh Fibre IPO Details
- Price Band: ₹87–₹92 per share
- IPO Open / Close Dates: 31 August 2026 / 2 September 2026
- Lot Size: To be updated
- Issue Size: Up to 61,24,800 equity shares / ₹56.35 crore
- Fresh Issue / OFS: Fresh Issue of up to 61,24,800 equity shares / OFS: Nil
- Registrar: KFin Technologies Limited
- Listing Exchange: NSE Emerge
Shareholders Quota
- Face Value: ₹10 per share
- Market Maker Reservation: Up to 3,07,200 shares
- Anchor Investor Portion: Up to 17,43,600 shares
- QIB Shares: Not more than 11,62,800 shares
- NII Shares: Not less than 8,73,600 shares
- Individual Investor Shares: Not less than 20,37,600 shares
What is the GMP of Ashutosh Fibre IPO?
The latest Ashutosh Fibre IPO GMP can be tracked through our GMP Today Hub page, where we provide daily updates for IPOs.
GMP is an unofficial market indicator influenced by grey-market demand and sentiment and is not regulated by SEBI, NSE or BSE. It should therefore not be treated as a guaranteed indication of the listing price or returns.
For a broader view of how GMP has actually performed, you can also explore our GMP vs Listing Gains July 2026 analysis, 62 Mainboard IPOs: GMP vs Actual Listing Performance study, and our 2026 GMP vs Listing Accuracy study, which examines GMP against actual listing outcomes across IPOs listed during 2026.
What is the Ashutosh Fibre IPO Timeline, including Key Dates and Allotment?
- IPO Open & Close Date: 31 August 2026 to 2 September 2026
- Basis of Allotment Date: On or about 3 September 2026
- Refund / Unblocking of Funds: On or about 4 September 2026
- Credit of Shares: On or about 4 September 2026
- Listing Date: On or about 7 September 2026
How will the Funds Raised through the Ashutosh Fibre IPO be Utilised?
The company plans to use the IPO proceeds mainly for capacity-related investment and debt reduction:
- Capital Expenditure: ₹25.51 crore towards new equipment and machinery.
- Repayment / Pre-payment of Borrowings: ₹20.00 crore towards certain existing borrowings.
- General Corporate Purposes: The remaining amount, subject to a maximum of 15% of gross proceeds or ₹10 crore, whichever is lower.
How has Ashutosh Fibre's Financial Performance Evolved?
The company's financial performance shows moderate revenue growth alongside a sharp improvement in profitability, particularly in FY26. (in Cr.)
Particulars | FY26 | FY25 | FY24 |
Total Income | 117.43 | 114.97 | 109.89 |
PAT | 16.04 | 8.51 | 7.05 |
EBITDA | 31.07 | 17.84 | 16.14 |
Total Borrowings | 47.92 | 57.44 | 34.86 |
Total Assets | 112.06 | 104.60 | 73.01 |
Source: Ashutosh Fibre Limited RHP
Financial Observations
Total Income
- Total income increased from ₹109.89 crore in FY24 to ₹117.43 crore in FY26.
- FY26 total income increased by approximately 2.14% over FY25's ₹114.97 crore.
- The FY26 increase was primarily driven by higher revenue from operations, particularly export sales. Revenue from operations increased 2.93%, with export sales rising from ₹43.39 crore to ₹45.76 crore.
Profit After Tax
- PAT increased from ₹7.05 crore in FY24 to ₹16.04 crore in FY26.
- FY26 PAT was approximately 88.53% higher than FY25 PAT of ₹8.51 crore.
- The improvement in PAT was supported by better sales margins, which resulted in higher net profit.
EBITDA
- EBITDA increased from ₹16.14 crore in FY24 to ₹31.07 crore in FY26.
- FY26 EBITDA was approximately 74.24% higher than FY25 EBITDA of ₹17.84 crore.
- EBITDA margin expanded from 14.69% in FY24 to 26.47% in FY26, primarily because the cost of material consumed fell from 60.65% to 55.08% of revenue from operations. The RHP also cites lower power and fuel expenses, helped by effective solar power utilisation and improved power management.
Total Borrowings
- Total borrowings stood at ₹47.92 crore in FY26, compared with ₹57.44 crore in FY25 and ₹34.86 crore in FY24.
- Borrowings declined by approximately 16.5% in FY26 from FY25.
- The RHP's cash-flow discussion attributes the FY26 financing outflow partly to ₹7.34 crore of net repayment of long-term borrowings and a ₹3.92 crore decrease in short-term borrowings.
Assets
- Total assets increased from ₹73.01 crore in FY24 to ₹112.06 crore in FY26.
- The asset base grew by approximately 53.5% over the two-year period.
- As of FY26, property, plant and equipment stood at ₹58.61 crore, compared with ₹55.70 crore in FY25, while trade receivables stood at ₹21.44 crore and inventories at ₹18.28 crore.
What Are P/E Ratio and Peer Comparison of Ashutosh Fibre?
Name of the Company | Revenue from Operations (₹ Cr) | Face Value (₹) | EPS (₹) | P/E (x) | RoNW (%) |
Ashutosh Fibre Limited | 117.37 | 10 | 10.19 | 9.03x | 30.91 |
RSWM Limited | 4,553.98 | 10 | 11.04 | 18.55 | 3.79 |
Reliance Chemotex Industries Limited | 362.01 | 10 | 6.97 | 16.09 | 3.69 |
Garware Technical Fibres Limited | 1,418.98 | 10 | 21.28 | 37.72 | 15.92 |
Cedaar Textile Limited | 162.80 | 10 | (56.16) | NA | (147.39) |
- Ashutosh Fibre's FY26 EPS is ₹10.19, and at the ₹92 upper price band, the implied P/E works out to 9.03x.
- The three profitable listed peers reported P/E multiples of 16.09x, 18.55x and 37.72x, making Ashutosh Fibre's implied 9.03x P/E lower than each of them.
- Ashutosh Fibre's 30.91% RoNW is also higher than RSWM's 3.79%, Reliance Chemotex's 3.69% and Garware Technical Fibres' 15.92%.
Analysis:
At the ₹92 upper band, Ashutosh Fibre is valued at 9.03x FY26 earnings, versus 16.09x–37.72x for its profitable listed peers disclosed in the RHP.
Its FY26 RoNW of 30.91% is also higher than all three profitable peers in the comparison.
This makes the IPO's valuation appear relatively lower on the RHP's peer metrics, although the businesses differ considerably in scale and operating profile.
What Is the Industry Outlook of Ashutosh Fibre Limited?
Growth Potential
- Ashutosh Fibre manufactures specialised yarns used in filtration, protective textiles, automotive, infrastructure and other industrial applications, giving its products exposure to multiple end-use segments.
- Overall production increased from 3,489 MT in FY24 to 4,275 MT in FY26, while capacity utilisation improved from 77.10% to 89.52%.
- Export sales increased from ₹43.39 crore in FY25 to ₹45.76 crore in FY26, supporting the growth in revenue from operations.
Market Trends
- The company's product range includes yarns designed for high tenacity, heat and flame resistance, filtration and other specialised requirements, serving industrial applications.
- The RHP highlights applications across areas such as filtration, protective clothing, automotive and infrastructure, giving the business exposure beyond conventional textile uses.
- The company is also proposing ₹25.51 crore of the IPO proceeds for capital expenditure, including new equipment and machinery, which is intended to support its operating capacity.
What Are the Strengths and Potential Risks of Ashutosh Fibre IPO?
Strengths
- Improving Capacity Utilisation: Overall capacity utilisation increased from 77.10% in FY24 to 89.52% in FY26, while production rose from 3,489 MT to 4,275 MT.
- Strong Profitability Improvement: PAT increased to ₹16.04 crore in FY26, while EBITDA reached ₹31.07 crore, with the EBITDA margin expanding to 26.47%.
- Export Presence: Export sales increased from ₹43.39 crore in FY25 to ₹45.76 crore in FY26, supporting the company's revenue from operations.
- Lower Borrowings in FY26: Total borrowings declined from ₹57.44 crore in FY25 to ₹47.92 crore in FY26.
Risks
- Raw Material Dependence: The company does not have long-term agreements for raw-material supplies and depends on third-party suppliers for key inputs. A significant portion is sourced from a limited number of suppliers.
- Customer Concentration: The top 10 customers contributed 68.85% of revenue from operations in FY26, making the business dependent on important customers.
- Supplier Concentration: The top 10 suppliers accounted for 64.73% of total purchases in FY26.
- Competitive Market: The RHP states that the company operates in a competitive environment across its business verticals.
Key Considerations for Investors
- Profitability: FY26 PAT rose to ₹16.04 crore, while EBITDA reached ₹31.07 crore; the RHP links the improvement to better sales margins and higher profitability.
- Working Capital: Trade receivables increased 11.18% to ₹21.44 crore, mainly due to slower collections and higher credit terms.
- Inventory: Inventories rose 26.68% to ₹18.28 crore, driven by higher raw materials, packing materials, WIP and finished goods.
- Debt: Total borrowings declined in FY26, with long-term borrowings down 18.55% and short-term borrowings down 14.24%.
- Concentration: Top 10 customers contributed 68.85% of FY26 revenue, while the company also lacks long-term agreements for raw-material supplies.
What Are the Key Takeaways of Ashutosh Fibre IPO?
- IPO Price Band: ₹87–₹92 per share
- IPO Opening Date: 31 August 2026
- IPO Closing Date: 2 September 2026
- Allotment Date: 3 September 2026
- Listing Date: 7 September 2026
- Listing Platform: NSE Emerge
Important IPO Resources:
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2. IPO Allotment Status – How to Check Allotment Status of IPO Shares
3. Latest IPO Subscription Status Today
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6. July 2026 IPO Review: 33 IPOs, ₹21140.52 Cr Raised & 56.37x Average Subscription
Ashutosh Fibre IPO – FAQs
What is the latest GMP of Ashutosh Fibre IPO?
You can check the daily-changing GMP of Ashutosh Fibre IPO and other upcoming IPOs on our GMP Hub page. GMP is an unofficial market indicator and is not regulated by SEBI, NSE or BSE.
What is the price band of Ashutosh Fibre IPO?
The IPO price band is ₹87 to ₹92 per share.
When is the Ashutosh Fibre IPO allotment expected?
The basis of allotment is scheduled to be finalised on or about September 3, 2026.
How can I check Ashutosh Fibre IPO allotment status?
Investors can check their allotment status through the IPO registrar or the NSE platform using their PAN or application details.
When will Ashutosh Fibre IPO shares be listed?
The equity shares are scheduled to commence trading on or about September 7, 2026.
Investment Perspective on Ashutosh Fibre IPO
Priced at ₹92 per share, Ashutosh Fibre's IPO implies a 9.03x P/E based on FY26 EPS of ₹10.19. Its 30.91% FY26 RoNW is higher than the profitable listed peers disclosed in the RHP, while FY26 also saw a sharp improvement in EBITDA and PAT.
However, investors should balance these financial metrics against customer and supplier concentration. The top 10 customers contributed 68.85% of FY26 revenue, while the top 10 suppliers accounted for 64.73% of purchases. The absence of long-term raw-material supply agreements adds another sourcing risk highlighted by the RHP.
Overall, the IPO combines strong FY26 profitability metrics and a comparatively lower peer-based P/E with meaningful concentration and raw-material sourcing risks. Investors should weigh both sides after reviewing the RHP.
Disclaimer: This article is for informational purposes only and is not investment advice. Please consult a SEBI-registered investment advisor before investing.
