Shreedhar SpinnersIPO Review — Financials, Valuation & Peers
A data-only look at the Shreedhar Spinners 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 | 126.35 | 3.35 | 13.41 | 16.92 | 92.28 | 62.11 | — |
| FY 2025 | 134.43 | 3.42 | 13.11 | 20.34 | 102.32 | 65.31 | — |
| FY 2026 | 146.55 | 6.17 | 17.62 | 29.76 | 172.12 | 115.9 | 3.94 |
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)
- 13.44x
- P/E (post-issue)
- 18.41x
- RoNW
- 20.74%
- RoE
- 24.64%
- RoCE
- 9.34%
- Debt / Equity
- 3.89
- EPS (pre-issue)
- ₹3.94
- EPS (post-issue)
- ₹2.88
- EBITDA Margin
- 12.04%
- PAT Margin
- 4.22%
- P/BV
- 2.79x
- NAV / share
- ₹19.01
- Market Cap
- ₹113.62 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 |
|---|---|---|---|---|---|---|
| Shreedhar Spinners | 4.03 | 19.01 | — | 20.74% | — | Standalone |
| AB Cotspin India Limted | 6.06 | 69.15 | 33.69x | 8.65% | 2.96x | Standalone |
| Siddhi Cotspin Limited | 4.38 | 55.82 | 6.39x | 7.08% | 0.51x | Standalone |
Peer group as disclosed in the offer document, figures as of 28 Mar 2025. The issuer’s P/E is computed at the upper price band.
Promoters & Shareholding
Promoters: Shreedhar Cotsyn Pvt.Ltd., Dharmendra Mohandas Goyal, Vishal Agarwal, Sunita Dharmendra Goyal, Pooja Agarwal and Varesh Goyal
- Holding (pre-issue)
- 96.55%
- Holding (post-issue)
- 70.48%
- Dilution
- 26.07%
Analysis in brief
Anchor book
The anchor round of the Shreedhar Spinners IPO drew 5 institutional investors committing a combined ₹8.58 crore. Anchor investors are institutions allotted shares at the issue price a day before bidding opens, in exchange for a mandatory post-listing lock-in — their names and cheque sizes are disclosed, which is why the anchor book is read as an institutional signal. The largest allocations went to NECTA BLOOM VCC-NECTA BLOOM ONE (₹3 crore), RAJASTHAN GLOBAL SECURITIES PVT.LTD. (₹2 crore) and MONEYWISE FINANCIAL SERVICES PVT.LTD. (₹1.56 crore). Investor categories represented include Other and FII/FPI. The lock-in on half the anchor shares ends on 28 Jul 2026, with the remainder locked until 26 Sept 2026.
Margin and return profile
Away from the price multiples, the offer document also discloses the shape of the underlying business. Shreedhar Spinners operates at an EBITDA margin of 12.04% and a net (PAT) margin of 4.22% — the share of revenue retained at the operating and the net level respectively. Capital efficiency reads at a return on capital employed (RoCE) of 9.34% and a return on equity (RoE) of 24.64%. At the upper band, the post-issue market capitalisation works out to about ₹113.62 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 incremental working capital requirements of the company (₹21.04 crore), alongside purchase of machineries into existing manufacturing facility at amravati, maharashtra (₹4.95 crore). In all, 4 objects are disclosed.
Financials
In FY2026, Shreedhar Spinners reported revenue of ₹146.55 crore and a net profit of ₹6.17 crore. Revenue grew from ₹126.35 crore in FY2024 to ₹146.55 crore in FY2026 (+16.0%). Net worth stood at ₹29.76 crore at the end of FY2026. At the upper band, that puts the issue at roughly 13.5× FY2026 earnings (P/E), a figure worth comparing against listed peers in the sector.
Valuation
At the upper band, the issue is priced at 18.41× post-issue earnings and 2.79× book value, against a return on net worth of 20.74% and a debt-to-equity ratio of 3.89. These ratios come from the offer document and are for comparison, not a recommendation.
Peer comparison
The offer document names listed peers including AB Cotspin India Limted and Siddhi Cotspin Limited, with a median peer P/E of about 20×. The issue's own post-issue P/E works out to 18.41×.
Promoters
The promoters of the company are Shreedhar Cotsyn Pvt.Ltd., Dharmendra Mohandas Goyal, Vishal Agarwal, Sunita Dharmendra Goyal, Pooja Agarwal and Varesh Goyal. Promoter holding stands at 96.55% before the issue and comes down to 70.48% after listing.
Frequently asked questions
- What is the reservation split in the Shreedhar Spinners IPO?
- Of the total shares offered, retail investors get 35.02%, QIBs 19.99% (plus 29.95% anchor), non-institutional investors 15.03%.
- Who are the promoters of Shreedhar Spinners and what is their holding?
- The promoters are Shreedhar Cotsyn Pvt.Ltd., Dharmendra Mohandas Goyal, Vishal Agarwal, Sunita Dharmendra Goyal, Pooja Agarwal and Varesh Goyal. Promoter holding is 96.55% before the issue and 70.48% after listing.
- What is the P/E ratio of the Shreedhar Spinners IPO?
- At the upper price band, the Shreedhar Spinners IPO is valued at 13.44× pre-issue earnings and 18.41× post-issue earnings, based on the financials disclosed in the offer document.
- What are the objects of the Shreedhar Spinners IPO?
- The net proceeds go primarily toward funding incremental working capital requirements of the company, among 4 disclosed objects.