Indo Rama Synthetics (India) Ltd, incorporated in 1989, is a manufacturer of polyester yarns and fibres. The company has established itself as one of India's major dedicated polyester manufacturers with an integrated manufacturing complex in Butibori near Nagpur in Maharashtra. Its registered office is at 31-A MIDC Industrial Area, Butibori, Nagpur, Maharashtra, 441122. The company is classified under Consumer Discretionary Textiles & Apparels, specifically Other Textile Products, and is part of the BSE SmallCap, BSE Allcap, and BSE Consumer Discretionary indices.
Indo Rama Synthetics is an ISO-9001:2008, ISO-14001:2004, ISO 45001:2018, and OEKO Tex Certified manufacturer and seller of polyester filament yarn, polyester staple fibre, draw texturised yarn, specialty fibre, and chips. The company operates through a comprehensive manufacturing setup with a production capacity of 6,72,000 tons per annum for various polyester products, including polyester staple fibre, filament yarn, draw texturized yarn, fully drawn yarn, textile grade chips, and PET resin.
The manufacturing facility is strategically located in Butibori, which provides logistical advantages for distribution across India. The company has also invested in power generation capabilities, with a 40.0 megawatts (MW) STG facility based on coal and a 31.08 MW DG sets facility based on furnace oil, ensuring energy security for its operations, primarily for captive consumption.
Indo Rama Synthetics has a significant presence not only in India but also in Indonesia, Thailand, the United States, Nepal, and Sri Lanka. The company's diversified product portfolio serves multiple industries, with applications spanning apparel & sportswear, home furnishing & textiles, non-woven, and automotive sectors. This broad application base provides the company with multiple revenue streams and reduces dependency on any single market segment.
The company operates through one primary segment: manufacturing and trading of Polyester goods. Geographically, its operations are divided into two segments: India and other countries. Indo Rama Yarns Private Limited and Indorama Ventures Yarns Private Limited are the company's subsidiaries.
Indo Rama Synthetics demonstrated a remarkable turnaround in Q4 FY25. Net sales rose 32.55% year-on-year to Rs 1,198.47 crore in Q4 of March 2025. The company's operational efficiency improved dramatically, with EBITDA surging 670.54% YoY to Rs 100.17 crore, also marking a 42.77% increase quarter-on-quarter. The EBITDA margin improved significantly to 8.2% in Q4 FY25, compared to 1.43% in Q4 FY24 and 6% in Q3 FY25.
The company achieved profitability with a net profit of Rs 51.07 crore in the quarter ended March 2025, against a net loss of Rs 40.48 crore during the previous quarter ended March 2024. The sharp rise in EBITDA was primarily driven by aggressive cost-cutting measures, enhanced customer outreach, and improved market conditions.
For the full financial year 2025, net profit was reported at Rs 1.40 crore, a significant improvement from a net loss of Rs 203.44 crore in the year ended March 2024. Net sales rose 9.96% to Rs 4258.93 crore in FY25, compared to Rs 3873.28 crore during the previous year.
The company's cash flow position improved significantly, with net cash inflow from operating activities standing at Rs 391.11 crore as on 31 March 2025, as against a net cash outflow of Rs 96.73 crore as on 31 March 2024.
• Revenue (FY25): Rs 4,259 crore
• Net Profit (FY25): Rs 1.40 crore
• EBITDA (Q4 FY25): Rs 100.17 crore
• Market Capitalization: Rs 1,144.46 crore (as of May 19, 2025)
• Promoter Holding: 74.8%
• Book Value: Rs 14.1
• Face Value: Rs 10.0
• PE Ratio: 875.00
• PB Ratio: 3.10
• Dividend Yield: 0.00%
O P Lohia serves as the chairman, and Manish Kumar Rai is the company secretary for Indo Rama Synthetics (India) Ltd. Walker Chandiok & Co LLP is the auditor for the company. The management maintains transparency in its operations and regularly communicates with stakeholders.
The company has scheduled its 39th Annual General Meeting on 23 July 2025 and has shared the Annual Report 2024-25 web links with shareholders. Furthermore, the company filed its FY2024-25 Business Responsibility and Sustainability Report as per SEBI regulations on 1 July.
Indo Rama Synthetics (India) Ltd's remarkable turnaround in Q4 FY25 represents a significant milestone in its operational journey, transitioning from losses to profitability while maintaining its market position as a key player in India's polyester manufacturing industry. The company's strategic initiatives and robust operational management have positioned it for sustained growth in the future.
