Incorporated in 2019, Vahh Chemicals is an ISO 9001:2015 certified company engaged in manufacturing, supplying, and trading textile auxiliary chemicals. The company sources and blends a wide range of chemicals used in textile processing, including pre-treatment, dyeing, printing, and finishing. Its main customers are dyeing and printing houses, and the company also provide customized chemical formulations to meet their specific requirements.
As of September 30, 2025, the company offers 92 SKUs covering various textile substrates such as cotton, polyester, silk, and synthetic blends. It also supply specialty chemicals that add functional properties like water repellence, flame resistance, anti-microbial effects, UV protection, and wrinkle-free finishes.
The company had a total of 29 employees as of September 30, 2025.
The company operates mainly on a B2B model. Its facility covers about 301.25 square meters, and it has a strong distribution network in Surat.
The business operates under three segments:
Competitive strengths
Vahh Chemicals Ltd.’s revenue increased by 82% and profit after tax (PAT) rose by 97% between the financial year ending with March 31, 2026 and March 31, 2025.
| Period Ended | 31 Mar 2026 | 31 Mar 2025 |
|---|---|---|
| Assets | 43.87 | 39.28 |
| Total Income | 43.19 | 23.75 |
| Profit After Tax | 5.09 | 2.58 |
| EBITDA | 8.23 | 4.68 |
| NET Worth | 14.92 | 6.87 |
| Reserves and Surplus | 8.85 | 1.50 |
| Total Borrowing | 11.31 | 11.25 |
| Amount in ₹ Crore | ||
| Company | Issue Type | Issue Size | Issue Price | Listing Day Close | Listing Gain/Loss % |
|---|---|---|---|---|---|
| Biopol Chemicals Ltd. | SME | ₹31.26 Cr | ₹108 | ₹105.50 | -2.31% |
| Neochem Bio Solutions Ltd. | SME | ₹44.97 Cr | ₹98 | ₹111.80 | +14.08% |
| Speb Adhesives Ltd. | SME | ₹33.73 Cr | ₹56 | ₹57.00 | +1.79% |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding incremental working capital requirements of Company | 5.84 |
| 2 | Setting up a new manufacturing facility at Surat, Gujarat (Proposed facility) | 1.93 |
| 3 | Repayment of loan availed by Company | 1.84 |
| 4 | General Corporate Purposes | 2.02 |
| Total | 11.63 |
| KPI | Mar 31, 2026 | Mar 31, 2025 |
|---|---|---|
| ROE | 34.11% | 65.40% |
| ROCE | 31.76% | 25.72% |
| Debt/Equity | 0.76 | 1.64 |
| RoNW | 32.21% | 38.52% |
| PAT Margin | 11.79% | 10.87% |
| EBITDA Margin | 19.06% | 19.69% |
| Price to Book Value | 2.44 | 4.69 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 8.39 | 6.13 |
| P/E (x) | 7.15 | 9.79 |
| IPO Date | 4 to 8 Jun, 2026 |
| Listing Date | Thu, Jun 11, 2026 |
| Face Value | ₹10 per share |
| Issue Price | ₹60 per share |
| Lot Size | 2,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Fixed Price IPO |
| Listing At | BSE SME |
| Total Issue Size | 22,42,000 shares (agg. up to ₹13 Cr) |
| Reserved for Market Maker | 1,14,000 shares (agg. up to ₹0.6840 Cr) |
| Fresh Issue (Ex Market Maker) | 21,28,000 shares (agg. up to ₹13 Cr) |
| Net Offered to Public | 21,28,000 shares (agg. up to ₹13 Cr) |
| Share Holding Pre Issue | 60,63,868 shares |
| Share Holding Post Issue | 83,05,868 shares |
Hiren Indravadan Desai, Hetal Hirenbhai Desai, and Aayush Hiren Desai are the company promoters.
| Share Holding Pre Issue | 88.52% |
| Share Holding Post Issue | 64.63% |
As per our analysis and Based on the information we have, this is the output.
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