Rachit Prints aims for revenue growth with upcoming IPO
Rachit Prints (RPL), a manufacturer of specialty fabrics for the mattress industry, has announced its intention to exceed INR 100 crores in revenue by the end of the financial year 2027. In a bid to support this goal, the company is preparing to launch an initial public offering (IPO).
04 Dec 2024 | By Noel D'Cunha
Anupam Kansal: We are confident to reach our revenue target of INR 100 crores by 2027
The decision to proceed with the IPO is part of RPL's strategy to bolster its manufacturing capabilities. The company has engaged Khambatta Securities as the book running lead manager for the offering.
Anupam Kansal, the promoter and managing director of RPL, highlighted the company's commitment to both growth and quality. He said, "Our long-term relationships with our clients underscore our dedication to delivering quality products and timely service."
RPL, headquartered in Meerut, manufactures a variety of specialty fabrics, including knitted, printed, and warp-knit materials specifically designed for the mattress sector. The company also trades comforters and bedsheets. Its production facility spans 30,625-sqft and is equipped with machinery from both domestic and international sources, including India, Germany, Turkey, and China.
In terms of business operations, RPL has established a B2B model and recently signed a memorandum of understanding with Sheela Foam Limited (Sleepwell) and Kurlon Enterprise in February 2024 to supply 11,00,000 metres of printed and 8,00,000 metres of Circular knit speciality fabric. "Our investments in technology not only cater to growing demand but also enhance our operational efficiencies," Kansal added.
In the first quarter of the current financial year ending June 2024, RPL reported revenues of INR 9.8-crore, with a profit after tax of INR 1.02-crore. This contrasts with revenues of INR 37.08-crore and a profit of INR 2.02-crore for the entire FY24.
Founded in 2003 by Kansal, RPL prioritises producing quality products to boost customer satisfaction and foster a positive brand identity within the industry. With over three decades of experience in the textiles sector, Kansal plays a central role in the company's strategic direction, including corporate governance and business expansion.
The company benefits from various subsidies under the Amended Technology Upgradation Fund Scheme (ATUFS), which is provided by the Ministry of Textiles, Government of India, which supports capital investments.
As RPL approaches its IPO, Kansal remains optimistic. "As we aim to expand our operations and plant capacities, we are confident in our ability to reach our revenue target of INR 100 crores by 2027," he concluded.
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