Company Overview

C P S Shapers Ltd was originally incorporated under the name C P S Shapers Private Limited at Mumbai, Maharashtra on June 01, 2012. Subsequently, the status of the Company was changed to public limited, and the name of the Company was changed to C P S Shapers Limited vide a fresh certificate of incorporation on June 20, 2023, issued by the RoC Mumbai, Maharashtra. The company is a prominent manufacturer of shapewear and compression garments operating in the textile and apparel industry.

The Company is engaged in the business of manufacturing shapewear for Men and Women, including V-Shaper, Saree Shapewear, Active Pants, ShapeX Denim, etc. The Company is popularly known and identified in the apparel market by its brand 'Dermawear'. The brand has established itself as a trusted name in the shapewear segment, focusing on comfort, functionality, and style for its customers.

Business Model and Products

CPSSL's brand Dermawear offers a varied range of premium quality shapewear for women and men. It offers an athleisure range for athletic and casual dressing, along with a range of comfortable sports bras. The company's product portfolio spans across multiple categories, catering to diverse customer needs and preferences.

The Company has entered new product categories with a portfolio including Saree Shapewear, Mini Shaper, Sports Bra, All Mini Corset, Tummy Reducer, All Zenrik, Slimmer, Active Pants, Denim, Mask, and other shapewear. This comprehensive range allows the company to address various market segments and customer requirements.

The compression garments fabric is specially designed from a skin-friendly blend of cotton, polyester, and spandex, which are double and triple layered for a graduated compression effect in critical body areas like the abdomen, hips, and thighs. The focus on fabric technology and design demonstrates the company's commitment to product quality and customer comfort.

Distribution Network and Market Presence

The company distributes products both via e-retail and offline models, having developed a sustainable business model over the period. The company has adopted a multi-channel distribution strategy to reach customers across different touchpoints.

It has a PAN India presence with a distributor network in 28 states and 8 Union Territories for its domestic market. It also exports to 5 countries: Canada, Germany, Australia, United Kingdom, and the United States of America. This extensive distribution network provides the company with significant market reach, both domestically and internationally.

The Company does e-tailing through its own website and has established partnerships with leading e-commerce players in the domestic and international markets. The digital presence through multiple e-commerce platforms enhances the company's accessibility to customers.

Manufacturing and Infrastructure

The company's manufacturing unit is located in Meerut, Uttar Pradesh, and its warehousing facilities are in Palghar, Maharashtra, and Tiruppur, Tamil Nadu. This strategic geographic distribution of facilities aids in efficient supply chain management and customer service.

To meet its PAN India presence requirements and ensure timely supply of products through online sales, it operates one manufacturing facility situated in Meerut, two warehouses situated at Vasai, Maharashtra, and Tiruppur, Tamil Nadu, respectively, and one branch office situated at Tiruppur, Tamil Nadu, along with one virtual office situated at Bengaluru.

Stock Market Performance and Financial Highlights

C P S Shapers IPO bidding started from August 29, 2023, and ended on August 31, 2023. The shares were listed on NSE SME on September 7, 2023. The C P S Shapers IPO price was ₹185 per share. The company made its public debut through the SME platform of NSE.

As of March 2025, the current market capitalization of C P S Shapers Ltd (CPS) is ₹100.80 crores according to Business Today data, while Screener data indicates a Market Cap of ₹172 Crores (up 131% in 1 year), signifying substantial market cap appreciation.

The C P S Shapers Ltd's 52-week high share price is ₹670.65, and the 52-week low share price is ₹246.05. This wide range reflects the stock's volatility and growth trajectory since its listing.

Key Financial Metrics

• FY25 Performance (Annualised Basis):

_ Revenue: ₹ 40.32 Crores

_ Profit After Tax (PAT): ₹ 2.68 Crores

• EBITDA (FY25): ₹ 5.37 Crores

• PAT Margin (FY25): 6.66 %

• ROCE (Return on Capital Employed) (FY25): 0.28 % (as per latest financial)

• Book Value: ₹ 54.8

• ROCE (Overall): 15.9 %

• ROE (Return on Equity): 10.8 %

• Face Value: ₹ 10.0

Leadership and Shareholding

The Chairman of the company is Abhishek Kumar, and the Managing Director is also Abhishek Kumar. The company maintains strong promoter involvement in its operations and strategic direction.

Promoter holding in C P S Shapers Ltd has gone down to 67.70% as of Jan 2025 from 71.29% as of Sep 2023. While promoter holding has decreased slightly, it still represents significant management control and confidence in the business.

The company continues to focus on innovation and expansion in the shapewear market, backed by its established brand presence and growing distribution network across India and international markets.