About the Company: Technical Synthetic & Engineered Fabrics Pioneer
Incorporated in 1990, Kusumgar Ltd is a manufacturer of woven, coated, and laminated synthetic fabrics known as engineered fabrics. Its products are based mainly on polyamide and polyester filaments, using polyurethane chemistry. As of March 31, 2026, it has developed over 1,000 unique fabric types (SKUs), building a strong position in the synthetic functional and performance fabric space. Its products serve a wide range of industries, including aerospace and defence, industrial and automotive, and outdoor and lifestyle segments. In recent years, the company has also expanded into finished products for aerospace and military use, such as parachute systems, stealth materials, and rapid deployment systems.
- Aerospace and Defence Fabrics: Create high-performance fabrics that meet strict aerospace and defence standards. These include materials for parachutes, tactical clothing, specialty gear, stealth systems, and rapid deployment systems.
- Aerospace and Defence Solutions: The company now also manufacture complete products like parachute systems, camouflage nets, and deployable shelters. They also offer maintenance and repair services for some customers.
- Industrial and Automotive Fabrics: They make fabrics for various industrial uses, including automotive. Its product lines include fabrics for tapes, custom applications, mechanical rubber goods (MRG), and inflatables.
- Outdoor and Lifestyle Fabrics: The company supplies performance fabrics for global activewear and gear markets. Its fabrics are used in athleisure, rainwear, winter wear, backpacks, luggage, tents, and sleeping bags.
The company is led by Promoters Yogesh Kantilal Kusumgar, Siddharth Yogesh Kusumgar, Sapna Siddharth Kusumgar, and Siddharth Yogesh Kusumgar (HUF). As of March 31, 2026, it has a total workforce of 2,077 employees.
Financial Trends & Performance
Kusumgar Ltd.’s revenue decreased by 10% and profit after tax (PAT) dropped by 12% between the financial year ending with March 31, 2026 and March 31, 2025.
| Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 905.07 | 632.40 | 584.74 |
| Total Income | 711.78 | 790.21 | 474.55 |
| Profit After Tax | 98.20 | 111.99 | 84.40 |
| EBITDA | 187.85 | 188.39 | 131.85 |
| NET Worth | 502.95 | 257.75 | 140.36 |
| Reserves and Surplus | 491.05 | 247.60 | 138.37 |
| Total Borrowing | 223.58 | 246.50 | 76.53 |
Amount in ₹ Crore | Source: Chittorgarh
Key Performance Indicators
Competitive Strengths
- High Entry Barrier Moat: Operates in a highly specialized market segment with high technical and regulatory entry parameters.
- Advanced Technical Capabilities: Deep process expertise to develop and supply unique technical performance fabrics tailored to critical needs.
- Diversified Presences: Clear revenue balance across a wide array of application use-cases including automotive, lifestyle, and defence blocks.
- Entrenched Customer Baselines: Long-standing structural relationships with key public and private segment infrastructure consumers.
Issue Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50% of the Net Offer |
| Retail Shares Offered | Not less than 35% of the Net Offer |
| NII Shares Offered | Not less than 15% of the Net Offer |
IPO Structure & Use of Proceeds
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
- Carry out the Offer for Sale of Equity Shares of face value of Rs 1 each, aggregating up to Rs 6,500 million by the Promoter Selling Shareholders
- Achieve the benefits of listing the Equity Shares on the Stock Exchanges
Retail market participants can enter bids for a minimum of 35 shares (₹14,665 per lot) from July 8 to July 10, 2026. The equity shares are scheduled for listing across the BSE and NSE platforms on July 15, 2026.
