Vahh Chemicals Ltd. IPO

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:

  1. Trading– Distribution of textile chemicals for pre-treatment, dyeing, and finishing.
  2. Blending– Customized chemical blends to enhance textile quality.
  3. Nutrition– Nutraceutical products developed and marketed by subsidiary, “HSHS Nutraceuticals Limited” which markets products under the brand “Divine Nutrition”. These products are sold across India through online platforms, supplement stores, and gym distributors

Competitive strengths

  • Long standing relationships with a diversified customer base.
  • Business Model focused on customized solutions and strong customer relationships.
  • Experienced Promoters and management team.

Company Financials (Restated Consolidated)

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 Ended31 Mar 202631 Mar 2025
Assets43.8739.28
Total Income43.1923.75
Profit After Tax5.092.58
EBITDA8.234.68
NET Worth14.926.87
Reserves and Surplus8.851.50
Total Borrowing11.3111.25
Amount in ₹ Crore

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IPO Objects of the Issue

The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:

#Issue ObjectsEst Amt (₹ Cr.)
1Funding incremental working capital requirements of Company5.84
2Setting up a new manufacturing facility at Surat, Gujarat (Proposed facility)1.93
3Repayment of loan availed by Company1.84
4General Corporate Purposes2.02
 Total11.63

Key Performance Indicator (KPI)

KPIMar 31, 2026Mar 31, 2025
ROE34.11%65.40%
ROCE31.76%25.72%
Debt/Equity0.761.64
RoNW32.21%38.52%
PAT Margin11.79%10.87%
EBITDA Margin19.06%19.69%
Price to Book Value2.444.69
 Pre IPOPost IPO
EPS (₹)8.396.13
P/E (x)7.159.79

Vahh Chemicals IPO Details

IPO Date4 to 8 Jun, 2026
Listing DateThu, Jun 11, 2026
Face Value₹10 per share
Issue Price₹60 per share
Lot Size2,000 Shares
Sale TypeFresh capital only
Issue TypeFixed Price IPO
Listing AtBSE SME
Total Issue Size22,42,000 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 Public21,28,000 shares
(agg. up to ₹13 Cr)
Share Holding Pre Issue60,63,868 shares
Share Holding Post Issue83,05,868 shares

Vahh Chemicals IPO Promoter Holding

Hiren Indravadan Desai, Hetal Hirenbhai Desai, and Aayush Hiren Desai are the company promoters.

Share Holding Pre Issue88.52%
Share Holding Post Issue64.63%

SHARIAH SCREENING for - Vahh Chemicals 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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