Kusumgar IPO: Business & Financial Overview

Kusumgar Limited is set to launch its initial public offering (IPO) on July 8, 2026, with the issue closing on July 10, 2026. As investors evaluate the offering, understanding the company’s core business and its recent financial performance can help build a clearer picture of what the company does and how it has grown over the past few years. This article looks at Kusumgar’s business operations and financial overview based on the available IPO data.

Kusumgar IPO Timeline

The Kusumgar IPO opens for subscription on July 8, 2026, and closes on July 10, 2026. Anchor investor bidding is scheduled a day earlier, on July 7, 2026. Following the closure of the issue, the basis of allotment is expected to be finalised on July 13, 2026. Refunds for non-allottees and the credit of shares to successful applicants’ demat accounts are both scheduled for July 14, 2026. The company’s shares are proposed to list on the BSE and NSE on July 15, 2026, marking the final step in the IPO process.

About Kusumgar’s Business

Founded in 1990, Kusumgar Limited manufactures woven, coated, and laminated synthetic fabrics, often referred to as engineered fabrics. These fabrics are produced using polyamide and polyester filaments combined with polyurethane technology. As of March 2025, the company had developed more than 100 types of fabrics, reflecting a long-standing focus on product development within the synthetic fabric segment.

The company’s products are used across a range of industries, including aerospace, defence, industrial, automotive, outdoor, and lifestyle segments. Kusumgar has also expanded into military and aerospace applications, developing parachute systems, stealth materials, and rapid deployment systems. The company states that its fabrics are engineered to perform in demanding conditions, with attributes such as high strength, tear resistance, durability, comfort, airflow, and waterproof protection.

IPO Structure

The Kusumgar IPO is a book-built issue aiming to raise approximately ₹650 crores. This includes a fresh issue component along with an offer for sale of up to 1,55,13,126 equity shares, each with a face value of ₹1. The price band for the issue has been set at ₹398 to ₹419 per share. The shares are proposed to be listed on both the BSE and NSE.

Under the reservation structure, the Qualified Institutional Buyers (QIB) category has been allocated 50% of the issue, Non-Institutional Investors (NII) 15%, and Retail Individual Investors 35%.

Financial Overview

Based on the financial data disclosed, Kusumgar reported the following figures over the past three fiscal years (amounts in ₹ crores):

• FY2024: Revenue of ₹474.55 crores, expenses of ₹359.48 crores, profit after tax (PAT) of ₹84.40 crores, and total assets of ₹584.74 crores.
• FY2025: Revenue of ₹790.21 crores, expenses of ₹639.43 crores, PAT of ₹111.99 crores, and total assets of ₹632.40 crores.
• FY2026: Revenue of ₹711.78 crores, expenses of ₹576.82 crores, PAT of ₹98.20 crores, and total assets of ₹905.07 crores.

These figures show that while revenue grew significantly between FY2024 and FY2025, it declined in FY2026 compared to the previous year. A similar pattern is visible in profit after tax, which rose from FY2024 to FY2025 before easing in FY2026. Total assets, on the other hand, showed a notable increase in FY2026, rising from ₹632.40 crores to ₹905.07 crores.

Key Financial Metrics

According to the disclosed valuation metrics for FY2026, Kusumgar reported a Return on Equity (ROE) of 25.82%, Return on Capital Employed (ROCE) of 24.76%, EBITDA margin of 27.15%, and PAT margin of 13.80%. The company’s debt-to-equity ratio stood at 0.93. The basic Earnings Per Share (EPS) was recorded at ₹9.68, while the Net Asset Value (NAV) was ₹49.56. The Price/Earnings (P/E) ratio was not available at the time of this data.

Promoter Holding

The company’s promoters are Yogesh Kantilal Kusumgar, Siddharth Yogesh Kusumgar, Sapna Siddharth Kusumgar, and Siddharth Yogesh Kusumgar HUF. As per the shareholding pattern disclosed, promoter holding stood at 90.48% prior to the issue, based on 10,49,91,372 shares.

Conclusion

Kusumgar Limited operates in a specialised segment of synthetic fabric manufacturing, with applications spanning defence, aerospace, industrial, and lifestyle sectors. The financial data shows a period of growth followed by a moderation in revenue and profit in the most recent fiscal year, alongside a rise in total assets. As with any IPO, prospective investors may wish to review the company’s official offer documents, including the DRHP and RHP, for complete and updated financial and business details.

Frequently Asked Questions (FAQs)

Disclaimer: This article is for informational purposes only and does not constitute investment advice. Investors should refer to official sources such as SEBI, BSE, or the IPO registrar for the latest updates.