Rachit Prints Limited, a specialty fabric manufacturer for the mattress industry, recently announced its ambitious plans to achieve Rs 100 crore in revenues by the financial year 2027. In pursuit of expanding its operations and manufacturing capabilities, the Meerut-headquartered company is planning to raise funds through an initial public offering (IPO). The company has appointed Khambatta Securities Limited as the book running lead manager to the offer.
The company manufactures specialty fabrics tailored for mattresses, such as knitted fabric, printed fabric, warp knit, pillow fabric, blinding tape and also engaged in trading of comforters and bedsheets. Specialized in knitted fabrics, printed fabrics, and warp knit, the company sources yarn and chemicals to produce specialized textiles. RPL is specialized in converting yarn into fabric through knitting of fabrics and printing.
RPL follows a business to business (B2B) model for its products. The company executed a memorandum of understanding with Sheela Foam Limited (Sleepwell) and Kurlon Enterprise in February 2024 to supply 11,00,000 meters of printed and 8,00,000 meters of Circular knit specialty fabric. The company also supplies its products to Prime Comfort Products. It operates a manufacturing facility spread over an area of 30,625 sq ft. Located at Meerut, Uttar Pradesh, the unit is well equipped with Indian, German, Turkish, and Chinese machinery.
Speaking about the company’s plans, Anupam Kansal, promoter & managing director, Rachit Prints, said, “Our long-term relationships with our clients are testament to our commitment to deliver quality products and timely service. We also employ advanced knitting technology, which enables us to deliver customized requirements of our customers. Our investments in technology not only cater to growing demand, but also help our functional efficiencies. As we set out on a journey towards expanding our operations and plant capacities, we are aspiring to raise funds through an IPO and we are confident of achieving a revenue mark of Rs 100 crore by FY2027.”
Founded by Anupam Kansal in 2003, the company is focused on producing quality products to increase customer satisfaction and develop a positive brand image in the industry. With over three decades of experience in the textiles industry, Kansal is actively involved in strategic decision-making for the company, corporate and administrative affairs, financial operations, expansion activities, and business development. The company is located in the state of Uttar Pradesh and enjoys the benefits of subsidies under the ‘Amended Technology Upgradation Fund Scheme’ (ATUFS) provided by the Ministry of Textiles, Government of India, towards capital investment subsidy.
RPL has recorded Rs. 9.8 crore in revenue from operations with a profit (PAT) of Rs. 1.02 crore in the first quarter of the current financial year ended June 2024, compared to Rs. 37.08 crore in revenue from operations and a profit of Rs. 2.02 crore in FY24.
