Piotex Industries SME IPO Details, Financials, Valuation & Peers

Piotex Industries Limited is a dynamic player in the textile industry, specializing in contract manufacturing and trading of cotton yarn, fabric, and cotton bales. Established in October 2019, the company has quickly made its mark in the textile hubs of Maharashtra and beyond, with a focus on quality and innovation.

Key Points:

• Business Model: Piotex operates through two main activities:
  1. Trading: The company trades cotton bales, synthetic fiber, cotton yarn, and fabric across key textile markets in Maharashtra, including Malegaon, Ichalkaranji, and Bhiwandi, and extends its reach to Burhanpur and Ahmedabad.
  2. Manufacturing: Utilizing an outsourcing model, Piotex engages in job work and fabric weaving, providing yarn to job workers and weaving units who return the finished fabric for sale.
• Inception and Conversion: Originally incorporated as Piotex Industries Private Limited in October 2019, the company later converted into a public limited company in August 2023.
• Quality Assurance: The company ensures consistent quality in its cotton yarn by controlling the selection of raw materials from ginning. It focuses on producing high-quality yarn and fabric at competitive prices, maintaining long-term associations with clients.
• Management and Leadership: The company's management team, led by experienced promoters Mr. Abhay Shriram Asalkar and Mr. Yogesh Omprakash Nimodiya, plays a crucial role in determining corporate strategy and planning. With each promoter having 25 years of experience in the textile industry, their leadership has been instrumental in shaping the vision and growth strategies of Piotex Industries Limited.