Aritas Vinyl Ltd. IPO

Incorporated in 2020, Aritas Vinyl Limited is engaged in the manufacturing and trading of technical textile, such as Artificial leather also known as PU Synthetic leather and PVC-coated leather, using the latest technology known as Transfer Coating Technology.

The company produces artificial leather, PVC vinyl, and related products, serving various industries such as automotive, fashion, and interior design.

The company supplies products to distributors, wholesalers, manufacturers, and exports to countries like Greece, Oman, UAE, Sri Lanka, USA, and SEZs, promoting synthetic leather over traditional animal leathe
The manufacturing facility is located at Kubadthal, Ahmedabad spans 6,067 sq. meters, with a 7.8 million square meters annual capacity, efficiently catering to diverse client requirements. Products:
  • Automotive Upholstery: Polyethylene leather and PVC vinyl for seats, door trims, steering wheel covers, and more.
  • Fashion Accessories: Artificial leather materials for bags, wallets, laptop sleeves, and purses, available in various colors and textures.
  • Interior Design: PVC vinyl solutions for wall coverings and upholstery, catering to both residential and commercial spaces.
Competitve Strengths:
  • Quality & Customization.
  • Experienced Promoters with sound market knowledge.
  • Fully integrated manufacturing plant set up at a strategic location.
  • Enhanced production capacity within a span of three years.
  • Long-standing relationship with our customers from diverse industry.

Company Financials (Restated)

Period Ended 31 Aug 2025 31 Mar 2025 31 Mar 2024 31 Mar 2023
Assets 98.25 95.26 76.12 57.95
Total Income 40.58 98.02 69.25 51.42
Profit After Tax 2.42 4.13 1.67 0.99
EBITDA 4.55 8.63 4.65 3.09
NET Worth 22.77 20.27 5.99 4.32
Reserves and Surplus 10.21 7.79 3.49 1.82
Total Borrowing 37.78 36.82 52.79 33.10
Amount in ₹ Crore

IPO Objects of the Issue

The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
# Issue Objects Est Amt (₹ Cr.)
1 Capital Expenditure for Solar Power Project 4.26
2 Working Capital 20.45
3 General corporate purposes

Key Performance Indicator (KPI)

KPI Aug 31, 2025 Mar 31, 2025
ROE 11.16% 31.23%
ROCE 11.14% 21.99%
Debt/Equity 1.65 1.80
RoNW 25.51% 20.36%
PAT Margin 5.97 4.23%
EBITDA Margin 11.20 8.81%
Price to Book Value 2.62 2.94
Pre IPO Post IPO
EPS Rs 3.26 2.95
P/E (x) 14.43 15.93

Aritas Vinyl IPO Details

IPO Date 16 to 20 Jan, 2026
Listing Date Fri, Jan 23, 2026T
Face Value ₹10 per share
Price Band ₹40 to ₹47
Lot Size 3,000 Shares
Sale Type Fresh Capital & OFS
Issue Type Bookbuilding IPO
Listing At BSE SME
Total Issue Size 79,83,000 shares (agg. up to ₹38 Cr)
Reserved for Market Maker
4,02,000 shares (agg. up to ₹2 Cr)
Giriraj Stock Broking Pvt.Ltd.
Fresh Issue (Ex Market Maker) 65,96,600 shares (agg. up to ₹31 Cr)
Offer for Sale 9,84,400 shares of ₹10 (agg. up to ₹5 Cr)
Net Offered to Public 75,81,000 shares (agg. up to ₹36 Cr)
Share Holding Pre Issue 1,26,90,080 shares
Share Holding Post Issue 1,96,88,680 shares

Aritas Vinyl IPO Promoter Holding

Mr. Anilkumar Prakashchandra Agrawal, Mr. Sanjaykumar Kantilal Patel, Mr. Ankit Anilbhai Agrawal, Mr. Mohit Ashokkumar Agrawal, Mr. Rohit Dineshbhai Agrawal, Mr. Rutvik Patel and Mr. Shubham Sunilbhai Agrawal are the promoters of the company.

Share Holding Pre Issue47.22%
Share Holding Post Issue27.99%

SHARIAH SCREENING for - Aritas Vinyl Ltd. IPO

BUSINESS SCREEN

FINANCIAL RATIOS

As per our analysis and Based on the information we have, this is the output.
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