Lagnam Spintex Ltd

Lagnam Spintex

About the Company:

Lagnam Spintex Ltd is an ISO 9001:2015 certified Company engaged in the business of manufacture of high quality yarn for domestic and export market ranging from count Ne 4 to Ne 20 which is used in Denim, Terry Towels, Bottom Wears, Home Textiles and Industrial Fabrics etc.

Company’s manufacturing facility is situated at Hamirgarh of Bhilwara District in Rajasthan State and spreads over 10,000 square meters.

Company at present has an installed capacity of 1,920 rotors for cotton yarn having capacity to produce 16.5 tonnes per day of high quality yarn.

company has been recognised as “One Star Export House” by the Director General of Foreign Trade with a certificate valid from 2017 to 2022.

Company is presently exporting cotton yarns to countries like Portugal, Italy, Germany, Belgium, South Africa, Slovenia, Columbia, China, Pakistan, Bangladesh and others.

They supply to customers, who are in fields like apparel and garment industry, industrial fabrics, towels, Denims etc.


Competitors for the Company:

Some of the major competitors are:

  • Narmada Spinning Private Ltd
  • Vippy Spinpro Ltd
  • Super Spinning Mills Ltd
  • Vardhman Spinning & General Mills Ltd.
  • Nahar Spinning Mills Ltd
  • PBM Polytex Ltd.
  • Shree Bhagirath Textile Industries Ltd.
  • Nitin Spinners Ltd
  • KPR Mills Ltd


Company’s Expansion Plans:

To cope with the continuous growing demand in the overseas and domestic markets and to attain economies of scale, Company proposes setting up a new manufacturing facility for high quality Ring Spun carded and combed yarn with capacity of 18.61 TPD with 25,536 spindles at A- 51,52 RIICO Growth Centre Hamirgarh, Bhilwara, Rajasthan.

Company has already purchased the leasehold right for the site where it wishes to set up its new project. The project shall be set up on the land admeasuring 38,263 Sqmt. which is adjacent to existing unit of the company.

With this proposed expansion, the uses for the company’s product i.e. yarn will significantly increase by further diversifying end use scope for current offering i.e. increasing product variety in Denim, Terry Towel, Home textiles, Industrial Fabric and also adding Suiting & Shirting, Linen and Home furnishing fabrics to the end use purposes.


Proposed Capacity Utilization:

proposed capacity utilization ***For the new proposed facility, the commercial production is scheduled to begin from September 2019.


Management Team:

  1. Mr. D P Mangal (Designation: Whole time Director and Chairman)
  2. Mr. Anand Mangal (Designation: Managing Director)
  3. Mr. Vijay Singh Bapna (Designation: Non- Executive Director)


Positives for the Company:

  • Promoters having vast experience of around 45 years in the Textile Industry.
  • Setting up of new manufacturing facility to more than double the production.
  • Banks have already sanction Term Loan of Rs.94 crores and after considering RIPS (Rajasthan Investment Promotion Scheme) subsidy, the net interest cost will be 3.50% to 4.15%.
  • Well established infrastructure with most automated and state of the art technologies from Internationally renowned suppliers.
  • Diverse and quality products with more than 99% capacity utilization of the current manufacturing facility.


Objectives of the Issue:

  • Part finance the setting up of additional cotton yarn manufacturing facility.
  • Meet Issue expenses


Financials of the Company:

(in Crores) FY 14 FY 15 FY 16 FY 17 FY 18
Revenue 42.05 49.83 56.56 75.38 84.54
Net Profit 1.44 1.57 2.08 3.67 4.68


IPO Details:

Details Info
Issue Opens on 4th September 2018
Issue Closes on:. 7th September 2018
Issue Price Rs.41
Face Value Rs.10
Minimum Lot 3000
Minimum Investment Rs.1,23,000
Issue Constitutes 33.96%
Issue Size Rs.24.60 cr
Market Cap Rs.73.67 cr
Listing at NSE SME
Equity Shares Offered (Fresh) 60,00,000
Equity Shares Prior to the Issue 1,16,69,000
Equity Shares after the Issue 1,76,69,000


IPO Valuation Parameters:

Earnings Per Share (EPS) Price To Earnings ratio (PE) Return on Net Worth (RoNW) Net Asset Value (NAV)
4.15 9.88 17.72% 23.42


Check IPO Allotment Status:

Bigshare Website (Click on the below link)


Knowledge Corner: (Click on the Link)

How to become a Successful Investor?
Questions to Ask Before You Buy a Stock?
Guidelines for Investing in IPOs
Important Tips For Investing in an IPO.
Frequently Asked Questions on IPO.
Important Ratios you Should Know.
NSE & BSE Holiday List For the Year 2018
Upcoming Mainline IPO
Upcoming SME IPO


Company Contact Info:
A-51-53, RIICO Growth Centre Hamirgarh
Bhilwara, Rajasthan, India, 311001
Tel: +91 014 82 289210


IPO Registrar Info:
1st Floor, Bharat Tin Works Building, Opp.
Vasant Oasis, Makw ana Road, Marol,
Andheri East, Mumbai -400059, Maharashtra
Tel: +91 -22- 6263 8200