Anand Rayons Ltd is a textile trading house that has evolved into a multi-product distributor - it began as an authorized dealer of synthetic yarn in Surat and has since layered on fabric manufacturing, petrochemical trading, packaging imports and a string of early-stage ventures, all run from a single office with no subsidiaries. The company was incorporated in September 2018, listed on the BSE SME platform in mid-2019 and migrated to the main board in October 2021. The recurring approach is simple: it uses its dealer relationships and market access to trade whatever its customers need - yarn first, then oils, foil, machinery and now food - while adding a small manufacturing line for fabric to capture a bit more of the textile chain. # Business segments One core trading engine with a small manufacturing attachment and several nascent diversifications - synthetic yarn dealing is the foundation, fabric making is the only in-house production, and everything else is early-stage trading or partnership bets. ## 1. Synthetic yarn trading: the original dealer business **The company earns its living as an authorized middleman, buying synthetic yarn from manufacturers and selling it to textile customers across India - it owns no yarn-making capacity itself.** - **Authorized dealer status opens doors** - the company is an authorized dealer of multiple yarn producers, which gives it access to supply and pricing that a pure broker would not have. - **Embroidery and dyed yarn are the sweet spot** - it holds a decent market share in these two specialized categories, where customers value consistent quality and availability over the lowest price. - **No technical staff, just marketing people** - because it trades rather than manufactures yarn, the workforce is built around sales and relationship management, not production engineering. - **Competition is everywhere** - the yarn market is crowded with organized players, unorganized local dealers and imported yarns, so the company has to flex its margins just to hold on to turnover. - **The GST structure works against it** - raw materials attract 18% tax while finished yarn and fibre are taxed at 12%, creating a working-capital squeeze that every trader in the polyester chain has to manage. ## 2. Fabric manufacturing: the one in-house production line **The company makes fabric for T-shirts, garments and apparels at a rented factory - this is its only manufacturing activity, and it sits alongside the trading business rather than replacing it.** - **A trading house that also makes** - the company started fabric manufacturing by FY22, adding a production line to a business model that otherwise buys and sells goods made by others. - **Factory inside a partner's premises** - the manufacturing unit operates from Plot No. 8 at Baid Industries Pvt. Ltd. in the Panoli industrial estate in Bharuch, the same group it once used for job-work yarn production. - **Revenue comes from two streams now** - the company reports income from both yarn trading and fabric manufacturing, though trading remains the dominant activity. ## 3. Petro-chemical and packaging trading: the diversification push **The company has expanded its dealer playbook into oils, aluminium foil and polyester films - still trading, just with a wider product catalogue.** - **Oils for industry** - it trades yellow oil, white oil, base oil and palm oil, some of which go into adhesive manufacturing, broadening the customer base beyond textile mills. - **Packaging materials from import** - it imports aluminium foil and deals in polyester chips, granules, BOP film, CPP film and PET film, serving the packaging and converting industries. - **Machinery on the side** - the product list also includes textile machinery, testing equipment and related items, making the company a general supplier to the textile and packaging sectors rather than a pure yarn house. ## 4. Early-stage bets: machinery brand and food tie-up **The company has planted two small flags - a registered trademark for textile machinery and a five-year partnership in the food sector - both too new to have a track record.** - **STAPII brand for machinery** - it registered the trademark ‘STAPII’ in September 2025 under class 7, intending to use it for importing, selling and manufacturing textile machinery. - **Food sector via partnership** - in August 2025 it signed a five-year strategic tie-up with M/s Chhabee Nutricos Inds LLP to enter the food business, a sector far removed from its textile roots. # Group structure and partners **The company operates as a standalone entity with no subsidiaries or joint ventures, but it has formed a general partnership for apparel trading and uses warrant issues to bring in capital.** - **No subsidiary, no associate** - the company has never had a subsidiary, joint venture or associate company, so all activities sit directly on its own balance sheet. - **A partnership for apparel** - in July 2024 it entered into an ‘at will’ partnership called M/s Sun Infra with five other partners to trade in apparels, fabrics, silk and cotton, giving it a separate vehicle for garment-related business. - **Warrants as a funding tool** - it issued 88.62 lakh convertible warrants on a preferential basis in early 2025, with 33.98 lakh converted into equity by February 2025 and another 1.71 lakh converted for promoters in January 2026. - **Banking and professional backbone** - HDFC Bank and State Bank of India are its principal bankers, while its audit, secretarial and share-transfer work is handled by Surat- and Mumbai-based firms.