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₹174 - 174
Yajur Fibres Ltd
TextilesIPOSME
₹174 - 174
Yajur Fibres Limited operates a bast fibre cottonising unit in India. Situated in Howrah, our Company is a part of the well-recognised conglomerate, The Kankaria Group. The group has rich experience of over 80 years in the Jute Industry. Its group, in the year 2006, acquired the manufacturing operations of cotton and cotton blended yarns into Yajur Bast Fibres Limited (formerly known as M.F.L Corporation Ltd). Subsequently, the company has started manufacturing of premium cottonised bast fibres, including flax (linen), jute, and hemp in the year 2017-18. Yajur Bast Fibres Limited was amalgamated into the Company pursuant to the Scheme of Amalgamation under Section 230 to 232 of the Companies Act, 2013, sanctioned by the National Company Law Tribunal, Kolkata bench, vide order dated January 12, 2023 w.e.f. appointed date of April 1, 2021. The Company specializes in producing premium cottonised bast fibres, including flax (linen), jute, and hemp.
Lot800Min Invest₹2,78,400Face Value₹10Issue Size₹120 CrFresh Issue₹120 CrListing Price₹139CMP₹34
Timeline
7 Jan
Bidding opens
9 Jan
Bidding closes
12 Jan
Allotment
13 Jan
Refund & demat credit
14 Jan
Listing
Subscription
Subscription opens once dates are announced
Reports
Offer Details
Terms
Issue Size₹120 Cr0.69 Cr shares
Fresh Issue₹120 Cr
Face Value₹10
Lot Size800 shares
ReservationQIB 0.98% · NII 29.68% · RETAIL 69.34%
Application Sizes
Retail₹2,78,4001-1 lots
sNII₹2,78,400from 2 lots
bNII₹11,13,600from 8 lots
Managers & Registrar
Lead ManagerHorizon Management Pvt Ltd
RegistrarMas Services Limited
Ownership & Proceeds
Shareholding
CategoryPre IPOPost IPOPromoter Group100.02%69.5%Public-0.02%30.5%
Objects of the Issue
- Setting up of 50,000 sq.ft of shed in the existing mfg. unit & purchase of dyeing & bleaching processing machinery & installation of addi. produc. capacity of 4 tons per day (hereinafter referred as the "Capex") at the Co. existing mfg. unit
- Investment in the Co. subsidiary Yashodha Linen Yarn Ltd for setting up a greenfield unit at Vikram Udyogpuri, DMIC (Industrial park) for 100% wet spun linen yarn and blended yarn (hereinafter referred as the "Project)
- Funding of working capital requirements of the company
- General corporate purposes
Financials
Profit & Loss
| Financial Year | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| RevenueCr | 62 | 84 | 141 | 101 |
| Operating ProfitCr | 7 | 8 | 19 | 15 |
| OPM% | 10.8 | 9.5 | 13.4 | 14.7 |
| PBTCr | 4 | 4 | 15 | 10 |
| PATCr | 4 | 4 | 12 | 8 |
| EPS | - | 3 | 7 | 4 |
Balance Sheet
| Financial Year | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Equity CapitalCr | - | 5 | 16 | 23 |
| ReservesCr | - | 33 | 33 | 140 |
| BorrowingsCr | - | 26 | 66 | 46 |
| Total AssetsCr | - | 78 | 141 | 232 |
Cash Flow
| Financial Year | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Operating Cash FlowCr | -3 | 11 | -25 | -48 |
| Investing Cash FlowCr | -13 | 1 | -17 | -61 |
| Financing Cash FlowCr | 16 | -11 | 42 | 108 |
| Net Cash FlowCr | 0 | 0 | 0 | 0 |
Strengths & Risks
Strengths · as stated in the DRHP
- One of the prominent manufacturers of premium cottonised bast fibre.
- Geographical presence and strategic location of its manufacturing unit.
- Quality Assurance and Quality Control of its products.
- Strong, cordial & long-term relationship with its customers.
- Cost effective production and timely fulfilment of orders.
- Well experienced management team with proven project management and implementation skills.
Strategies · as stated in the DRHP
- Setting up of 100% wet spun linen yarn and blended yarn manufacturing unit.
- Investing in capacity expansion and setting up of dyeing and bleaching section in next financial year.
- Market Penetration and Geographic Expansion.
- Leverage its position as manufacturer of premium cottonised bast fibres, including flax (linen), jute, and hemp.
- Focus on its Quality Control.
- Growing its business with existing clients and adding new customers.
Risks · as stated in the DRHP
- There is an investigation was initiated by Central Bureau of Investigation ("CBI") and Charge sheet was filed in Special (CBI) Court No. 2, Bichar Bhawan, Calcutta by CBI against six persons, including the Company alleging wrongful disbursement of subsidy. In respect of the same matter a money suit was filed by National Jute Board before the City Civil Court at Calcutta against the Company, which was disposed off as on date. Any adverse outcome of the same may adversely affect its business and results of operations.
- The company's Statutory Auditor has reported qualifications, in the audit report issued for the Financial Years ended March 31, 2024 and March 31, 2023.
- The company derives a substantial portion of its revenue from the sale of Cottonised Flax and loss of sales due to reduction in demand for such products would have a material adverse effect on the company's business, financial condition, results of operations and cash flows.
- There are outstanding litigations involving the Company which, if determined adversely, may adversely affect its business and financial condition.
- Certain of the company's corporate records and filings made by it are not traceable. The company cannot assure you that legal proceedings or regulatory actions will not be initiated against it in the future, or that the company will not be subject to any penalty imposed by the competent regulatory authority, should any discrepancies arise in such untraceable filings.
- The company's expansion into new product categories and an increase in the number of products offered by it may expose it to new challenges and more risks.