Kusumgar IPO Details, Financials, Valuation & Peers

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, 2025, 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.

Business segments:

1. 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.

1. Aerospace and Defence Solutions: The company now also manufacture complete products like parachute systems, camouflage nets, and deployable shelters. We also offer maintenance and repair services for some customers.

1. Industrial and Automotive Fabrics: It make fabrics for various industrial uses, including automotive. Its product lines include fabrics for tapes, custom applications, mechanical rubber goods (MRG), and inflatables.

1. 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.

Segment-wise Revenue: In FY 2025, 48.06% of revenue was derived from Aerospace and Defence Fabrics, followed by Aerospace and Defence Solution with 28.81% contribution, Industrial and Automotive Fabrics 14.63%, Outdoor and Lifestyle Fabrics 7.39%, and others contributing 1.11%.

Manufacturing facility: Six manufacturing facilities in Gujarat, India and one fabrication unit in Uttar Pradesh, India.

As of March 31, 2025, it has a total workforce of 1,712 employees with 1,082 permanent employees.

Competitive Strengths

• Operates in & high entry barriers market

• Strong technical capabilities to develop and supply unique solutions

• Diversified presence across multiple end-use segment

• Long-standing relationships with key customer

• Experienced and visionary Promoters supported by a professional management team