Vinod TexworldIPO Review — Financials, Valuation & Peers
A data-only look at the Vinod Texworld 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 2023 | 200.73 | 0.68 | 4.8 | 16.48 | 117.08 | 34.88 | — |
| FY 2024 | 271.65 | 5.3 | 12.29 | 22.77 | 154.21 | 47.01 | — |
| FY 2025 | 335.56 | 9.21 | 20.99 | 31.98 | 177.21 | 66.28 | 7.94 |
Restated figures from the offer document. Amounts in ₹ crore; EPS in ₹ per share. FY = the 12 months ended 31 March.
KPIs & Valuation
- RoNW
- 28.79%
- RoE
- 28.79%
- RoCE
- 34.99%
- EPS (pre-issue)
- ₹7.94
- EPS (post-issue)
- ₹5.7
- EBITDA Margin
- 6.26%
- PAT Margin
- 2.75%
- NAV / share
- ₹27.57
As of 31 Mar 2025 (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 |
|---|---|---|---|---|---|
| Vinod Texworld | 7.94 | 27.57 | — | 28.79% | — |
| Borana Weaves | 20.14 | 43.91 | 10.85x | 45.92% | 5.07x |
| Jakharia Fabric | 8.06 | 54.52 | 13.32x | 14.78% | 2.28x |
Peer group as disclosed in the offer document, figures as of 31 Mar 2025. The issuer’s P/E is computed at the upper price band.
Promoters & Shareholding
Promoters: <p>Harsh Vinod Mittal, Yash Vinod Mittal, Sweta Yash Mittal</p>
- Holding (pre-issue)
- 93.1%
- Holding (post-issue)
- 66.85%
- Dilution
- 26.25%
Analysis in brief
Margin and return profile
Beyond the headline pricing, the disclosed operating profile stands on its own numbers. Vinod Texworld operates at an EBITDA margin of 6.26% and a net (PAT) margin of 2.75% — the share of revenue retained at the operating and the net level respectively. Capital efficiency reads at a return on capital employed (RoCE) of 34.99% and a return on equity (RoE) of 28.79%. These are offer-document figures for the latest reported period (as of 31 Mar 2025); 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 expansion of existing plant, alongside repayment of loan. In all, 4 objects are disclosed.
Financials
In FY2025, Vinod Texworld reported revenue of ₹335.56 crore and a net profit of ₹9.21 crore. Revenue grew from ₹200.73 crore in FY2023 to ₹335.56 crore in FY2025 (+67.0%). Net worth stood at ₹31.98 crore at the end of FY2025. At the upper band, that puts the issue at roughly 11.8× FY2025 earnings (P/E), a figure worth comparing against listed peers in the sector.
Peer comparison
The offer document names listed peers including Borana Weaves and Jakharia Fabric, with a median peer P/E of about 12.1×.
Promoters
The promoters of the company are <p>Harsh Vinod Mittal, Yash Vinod Mittal, Sweta Yash Mittal</p>. Promoter holding stands at 93.1% before the issue and comes down to 66.85% after listing.
Frequently asked questions
- Who are the promoters of Vinod Texworld and what is their holding?
- The promoters are <p>Harsh Vinod Mittal, Yash Vinod Mittal, Sweta Yash Mittal</p>. Promoter holding is 93.1% before the issue and 66.85% after listing.
- What are the objects of the Vinod Texworld IPO?
- The net proceeds go primarily toward expansion of existing plant, among 4 disclosed objects.