# Vinod Texworld Limited: IPO analysis

> Vinod Texworld Limited (CIN U17200GJ2012PLC071210) has filed a Prospectus with SEBI for an IPO comprising a fresh issue of 45,56,400 shares. In FY26 it reported revenue of ₹343 Cr (+2.2% on FY25) and a net profit of ₹10 Cr. Promoters hold 76.7% before the IPO. Our fact-check of its claims found no medium or high concerns across 16 claims checked.

- Page: https://ipo.innerkore.com/company/U17200GJ2012PLC071210/vinod-texworld-limited/
- CIN: U17200GJ2012PLC071210
- Last updated: 3 Sep 2026

## Key facts

- **Company:** Vinod Texworld Limited
- **CIN:** U17200GJ2012PLC071210
- **Filing stage:** Prospectus
- **Latest SEBI filing:** 3 Sep 2026
- **Final offer price:** ₹94.00 per share
- **Bidding opens:** 9 Sep 2026
- **Bidding closes:** 11 Sep 2026
- **Listing on:** NSE
- **Revenue FY26:** ₹343 Cr
- **Revenue growth:** +2.2%
- **Net profit FY26:** ₹10 Cr
- **Revenue CAGR FY24 to FY26:** 12.3%
- **Promoter holding (pre-IPO):** 76.7%
- **Lead managers:** NOVUS CAPITAL ADVISORS PRIVATE LIMITED
- **Registrar:** KFIN TECHNOLOGIES LIMITED
- **Fact-check flags:** 0 high, 0 medium, 0 low

## Key signals (read from the filing; not investment advice)

- **Valuation** (looks fine): 14.6x P/E. At the top of the band, on FY26 profit; 0.3x book value.
- **Growth** (look closer): 12.3% a year. Sales FY24 to FY26; latest year +2.2%.
- **Profitability** (concern): 3% net margin. FY26; operating margin steady.
- **Debt** (looks fine): 0.15x equity. ₹70.5 crore borrowed at the end of FY26.
- **Profit into cash** (look closer): 76% of profit. Operations brought in ₹7.9 crore against ₹10.4 crore of profit in FY26.
- **One-off income** (look closer): 2% of profit. Other and one-off income is 2% of pre-tax profit; management describes 4 one-off items.
- **Where the money goes** (looks fine): All new money. 100% is new shares issued by the company. 18% of the new money repays debt.
- **Red flags** (looks fine): None serious. 16 claims checked: 0 high, 0 medium concern.

## Financial snapshot (₹ crore unless stated; unspecified)

| | FY24 | FY25 | FY26 |
|---|---:|---:|---:|
| Sales | 271 | 335 | 343 |
| Sales growth | – | 23.5% | 2.2% |
| Operating profit | 12 | 21 | 23 |
| Operating margin | 4.6% | 6.4% | 6.7% |
| Net profit | 5.5 | 9.2 | 10 |
| Net margin | 2.0% | 2.8% | 3.0% |
| Net worth | 394 | 440 | 460 |
| Borrowings | 47 | 66 | 70 |
| Return on equity | 1.4% | 2.1% | 2.3% |

## Non-recurring items (as described by management)

- Government Grant received as an interest subsidy being a revenue grant is deducted from the interest expenses in Profit & Loss Statement. (p.352)
- Profit After Tax but Before Extraordinary Items for the financial year 2025-26 stood at ₹1,040.74 lakhs, compared to ₹923.36 lakhs in the financial year 2024-25, representing an increase of ₹117.38 lakhs or 12.71%. (p.354)
- Profit on sale of machinery increased from Rs. 2.27 lakhs to Rs. 3.02 lakhs during FY 2024-25. (p.359)
- Balance written off increased from Rs. 1.28 lakhs in FY 2023-24 to Rs. 3.73 lakhs in FY 2024-25. (p.359)

## Use of proceeds (fresh issue)

- Expansion of Existing Plant;: ₹6.4 crore
- Repayment of Loan;: ₹7.2 crore
- To meet working capital requirements;: ₹20 crore
- General Corporate Purpose; and*: ₹6.0 crore

## Fact-checked claims

- **NONE** (PromoterBackground): Remuneration for Mr. Yash Vinod Mittal (Managing Director) was ₹ 36,0 per year effective from December 17, 2024.. No current web search results were found to corroborate, contradict, or provide any information regarding the claimed remuneration for Mr. Yash Vinod Mittal.
- **NONE** (PromoterBackground): Mr. Yash Vinod Mittal was designated as the Managing Director for a five-year period starting from October 25, 2024.. No current web search results were found to corroborate, contradict, or provide any information regarding the claim that Mr. Yash Vinod Mittal was designated as Managing Director for a five-year period starting from October 25, 2024.
- **NONE** (PromoterBackground): Mr. Harsh Vinod Mittal is the Whole Time Director and has been a Director since July 30, 2016, appointed as Whole Time Director on November 25, 2024.. No current web search results were found to corroborate, contradict, update, or provide any information regarding the claim about Mr. Harsh Vinod Mittal's directorship tenure and appointment dates.
- **NONE** (PromoterBackground): Mr. Yash Vinod Mittal is the Managing Director and has been a Director since July 30, 2016, appointed as Managing Director on October 25, 2024.. No current web search results were found to corroborate, contradict, update, or provide any information regarding the claim about Mr. Yash Vinod Mittal's directorship and appointment dates.
- **NONE** (PromoterBackground): Ms. Nikita Sinha was associated with Raipur Power and Steel Limited as a Company Secretary prior to joining the Board.. No current web search results were found to corroborate, contradict, update, or provide any information regarding Ms. Nikita Sinha's association with Raipur Power and Steel Limited as a Company Secretary prior to joining the Board.
- **NONE** (PromoterBackground): Mrs. Sweta Yash Mittal has 1 year 9 months of experience of Operations in the Vinod Texworld Limited.. No current web search results were found to corroborate, contradict, or provide any information regarding the claim that Mrs. Sweta Yash Mittal has 1 year 9 months of experience in Operations at Vinod Texworld Limited.
- **NONE** (PromoterBackground): Mr. Saket Jagdishchandra Agarwal is an Independent Director and has experience in the manufacturing industry of more than 20 years in Ratnam Laminates Private Limited.. No web search results were found to corroborate, contradict, update, or provide any information regarding the claim about Mr. Saket Jagdishchandra Agarwal's directorship and experience at Ratnam Laminates Private Limited.
- **NONE** (PromoterBackground): Mr. Anchal Tulsyan has 15 years of overall experience, having worked in the Finance and Accounts Department at Anil Exports (India) partnership firm from November 2010 to December 2018 and from January 2019 to September 2024 in Citadel Textiles Private Limited.. No current web search results were found to corroborate, contradict, update, or provide any new information regarding the claimed work experience of Mr. Anchal Tulsyan.
- **NONE** (LitigationStatus): Applicants submitting applications on behalf of Central or State Governments and officials appointed by the courts may be exempt from specifying PAN for securities market transactions under a SEBI circular dated June 30, 2008.. No current web search results were found to corroborate, contradict, update, or provide any information regarding the claim about exemptions for PAN for securities market transactions under a SEBI circular dated June 30, 2008.
- **NONE** (LitigationStatus): The lot size for Initial Public Issue was standardized by SEBI circular CIR/MRD/DSA/06/2012 dated February 21, 2012.. No web search results were found to corroborate, contradict, update, or provide any information regarding the claim that the lot size for the Initial Public Issue was standardized by the SEBI circular CIR/MRD/DSA/06/2012 dated February 21, 2012.
- **NONE** (LitigationStatus): The Market Makers may accept odd lots if any in the market as required under the SEBI (ICDR) Regulations, 2018.. No current web search results were found to corroborate, contradict, update, or provide any information regarding the claim about Market Makers accepting odd lots under SEBI (ICDR) Regulations, 2018.
- **NONE** (LitigationStatus): Liability under Section 447 of the Companies Act, 2013 prescribes penalties for fraud involving at least ten lakh rupees or one per cent. of the turnover of the company, whichever is lower.. No web search results were found to corroborate, contradict, update, or provide any information regarding the liability prescribed under Section 447 of the Companies Act, 2013 as stated in the DRHP claim.

## Common questions

### How big is the Vinod Texworld Limited IPO?

Vinod Texworld Limited's IPO comprises a fresh issue of 45,56,400 shares, according to its Prospectus. The price band is not stated in that document.

### What are Vinod Texworld Limited's revenue and profit?

Vinod Texworld Limited reported revenue from operations of ₹343 Cr in FY26, +2.2% versus FY25. Net profit was ₹10 Cr (FY25: ₹9.2 Cr). Revenue grew at a compound rate of 12.3% a year from FY24 to FY26. Figures are read from the Prospectus, as printed there.

### How much do promoters own in Vinod Texworld Limited?

Promoters hold 76.7% of Vinod Texworld Limited before the IPO. Largest holders listed: 1. Mr. Yash Vinod Mittal (37.9%); 2. Mr. Harsh Vinod Mittal (36.3%); 1. Ms. Radha Vinodkumar Mittal (7.8%).

### How will Vinod Texworld Limited use the IPO money?

The fresh-issue proceeds are earmarked for: Expansion of Existing Plant; (₹6.4 Cr); Repayment of Loan; (₹7.2 Cr); To meet working capital requirements; (₹20 Cr); General Corporate Purpose; and (₹6.0 Cr).

### What are the red flags in Vinod Texworld Limited's Prospectus?

We fact-checked 16 claims from the filing against the open web: 0 raised a high concern, 0 medium and 0 low. This is an automated screen, not a verdict; each finding links to its sources.

### What does Vinod Texworld Limited do?

Vinod Texworld Limited के IPO की DRHP में एक डिटेल है जो अक्सर नज़रअंदाज़ कर दी जाती है: Mr. Yash Vinod Mittal का remuneration का कोई रिकॉर्ड नहीं है। यह एक बड़ा सवाल है कि IPO के पीछे की टीम का पारिश्रम (remuneration) कितना पारदर्शी है।

### Who manages the Vinod Texworld Limited IPO?

Book running lead managers: NOVUS CAPITAL ADVISORS PRIVATE LIMITED. Registrar to the offer: KFIN TECHNOLOGIES LIMITED. Shares are proposed to list on NSE.

### Where can I read the original Vinod Texworld Limited IPO documents?

All 1 filing for Vinod Texworld Limited (Prospectus) are listed on this page with links to the original PDFs on SEBI's website. Every page reference cites the exact page of the source document.

## Source documents

- [Vinod Texworld Limited - Prospectus](https://www.sebi.gov.in/sebi_data/attachdocs/sep-2026/1788775122933.pdf) (Prospectus, filed 3 Sep 2026)

---
Source: InnerKore IPO (https://ipo.innerkore.com/). Read from public SEBI filings by automated extraction; check the linked documents. Not investment advice.