Ashutosh FibreIPO Review — Financials, Valuation & Peers
A data-only look at the Ashutosh Fibre IPO: restated financials, valuation ratios, the RHP peer group and third-party analyst views. ipostation does not rate IPOs — nothing here is a recommendation.
Financials (₹ Cr)
| Period Ended | Revenue | PAT | EBITDA | Net Worth | Total Assets | Borrowings | EPS (₹) |
|---|---|---|---|---|---|---|---|
| FY 2024 | 109.89 | 7.05 | 16.14 | 27.55 | 73.01 | 34.86 | — |
| FY 2025 | 114.97 | 8.51 | 17.84 | 35.85 | 104.6 | 57.44 | — |
| FY 2026 | 117.43 | 16.04 | 31.07 | 51.9 | 25.8 | 47.92 | 10.19 |
Restated figures from the offer document. Amounts in ₹ crore; EPS in ₹ per share. FY = the 12 months ended 31 March.
KPIs & Valuation
- P/E (pre-issue)
- 9.03x
- P/E (post-issue)
- 12.55x
- RoNW
- 30.91%
- RoCE
- 26.29%
- Debt / Equity
- 0.92
- EPS (pre-issue)
- ₹10.19
- EPS (post-issue)
- ₹7.33
- EBITDA Margin
- 26.47%
- PAT Margin
- 13.67%
- P/BV
- 2.79x
- NAV / share
- ₹32.95
- Market Cap
- ₹201.25 Cr
As of 31 Mar 2026 (latest reported period in the offer document). Market cap is computed on a post-issue basis at the upper price band.
Peer Comparison
| Company | EPS (₹) | NAV (₹) | P/E | RoNW | P/BV | Statements |
|---|---|---|---|---|---|---|
| Ashutosh Fibre | 10.19 | 32.95 | — | 23.73% | — | Standalone |
| Cedaar Textile Limited | -56.16 | 34.9 | — | 18.33% | 0.38x | Standalone |
| Garware Technical Fibres Ltd | 21.28 | 133.71 | 37.72x | 17.54% | 6.03x | Standalone |
| RSWM Reliance | 11.04 | 291.21 | 18.55x | -3.16% | 0.7x | Standalone |
| Reliance Chemotex Industries Ltd | 6.97 | 189.23 | 16.09x | 2.95% | 0.59x | Standalone |
Peer group as disclosed in the offer document, figures as of 31 Mar 2026. The issuer’s P/E is computed at the upper price band.
Promoters & Shareholding
Promoters: <p>Siddharth Prakash Patel, Abhishek Rajendrakumar Agarwal, Prabhas Fin-Stock Pvt.Ltd.</p>
- Holding (pre-issue)
- 59.79%
- Holding (post-issue)
- 43.05%
- Dilution
- 16.74%
Analysis in brief
Margin and return profile
The offer document gives a read on the operating engine behind the issue. Ashutosh Fibre operates at an EBITDA margin of 26.47% and a net (PAT) margin of 13.67% — the share of revenue retained at the operating and the net level respectively. Capital efficiency reads at a return on capital employed (RoCE) of 26.29%. At the upper band, the post-issue market capitalisation works out to about ₹201.25 crore. These are offer-document figures for the latest reported period (as of 31 Mar 2026); they describe the business as disclosed, not how the stock will trade.
Objects of the issue
Per the offer document, the company intends to deploy the net proceeds primarily toward funding capital expenditure requirements towards funding of new equipment and machinery (₹25.51 crore), alongside repayment/pre-payment, in full or in part, of certain borrowings availed by company (₹20 crore). In all, 3 objects are disclosed.
Financials
In FY2026, Ashutosh Fibre reported revenue of ₹117.43 crore and a net profit of ₹16.04 crore. Revenue grew from ₹109.89 crore in FY2024 to ₹117.43 crore in FY2026 (+7.0%). Net worth stood at ₹51.9 crore at the end of FY2026. At the upper band, that puts the issue at roughly 9.0× FY2026 earnings (P/E), a figure worth comparing against listed peers in the sector.
Valuation
At the upper band, the issue is priced at 12.55× post-issue earnings and 2.79× book value, against a return on net worth of 30.91% and a debt-to-equity ratio of 0.92. These ratios come from the offer document and are for comparison, not a recommendation.
Peer comparison
The offer document names listed peers including Garware Technical Fibres Ltd and RSWM Reliance, with a median peer P/E of about 18.6×. The issue's own post-issue P/E works out to 12.55×.
Promoters
The promoters of the company are <p>Siddharth Prakash Patel, Abhishek Rajendrakumar Agarwal, Prabhas Fin-Stock Pvt.Ltd.</p>. Promoter holding stands at 59.79% before the issue and comes down to 43.05% after listing.
Frequently asked questions
- What is the reservation split in the Ashutosh Fibre IPO?
- Of the total shares offered, retail investors get 35.02%, QIBs 19.99% (plus 29.97% anchor), non-institutional investors 15.02%.
- Who are the promoters of Ashutosh Fibre and what is their holding?
- The promoters are <p>Siddharth Prakash Patel, Abhishek Rajendrakumar Agarwal, Prabhas Fin-Stock Pvt.Ltd.</p>. Promoter holding is 59.79% before the issue and 43.05% after listing.
- What is the P/E ratio of the Ashutosh Fibre IPO?
- At the upper price band, the Ashutosh Fibre IPO is valued at 9.03× pre-issue earnings and 12.55× post-issue earnings, based on the financials disclosed in the offer document.
- What are the objects of the Ashutosh Fibre IPO?
- The net proceeds go primarily toward funding capital expenditure requirements towards funding of new equipment and machinery, among 3 disclosed objects.