Ecoline Exim Limited IPO

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Incorporated in 2008, Ecoline Exim is engaged in manufacturing and exporting a wide range of sustainable packaging and promotional bags made from cotton and jute. With the global shift toward reducing plastic use, the company provides eco-friendly, reusable, and biodegradable alternatives that align with global sustainability goals.

Product Portfolio

Ecoline Exim offers a diverse range of eco-conscious products, includes Recycled Cotton Bags – Made from pre- and post-consumer waste, promoting circularity, Organic Cotton Bags (Produced from pesticide-free cotton, environmentally safe), Fairtrade Cotton Bags (Ethically sourced, ensuring fair wages for farmers), Conventional Cotton Bags (Affordable and functional solutions), Jute Bags (Durable, natural fiber bags ideal for heavier loads) and Textile Made-ups (Products like aprons).

Customization is a key strength, offering printing, embroidery, labeling, and sizing to meet customer needs.

Customer Segments and Exports

The company caters to two major segments:

1. Functional – Retailers, wholesalers, and supermarkets.
2. Promotional – Corporate gifting agencies and promotional companies.
In FY2025, Ecoline Exim supplied to 87 customers across 27 countries, with repeat orders from 41 clients. Major export markets include the European Union, USA, Japan, South East Asia, and Mexico. As of June 30, 2025, the company had an outstanding order book of ₹8,809.67 lakhs from 63 customers.

Competitive Strengths

i) Sustainable and Eco-Friendly Model – Focus on the three R’s: Reduce, Reuse, Recycle.
ii) Stringent Quality Control – Ensures durability, consistency, and compliance with global standards.
iii) Strong Manufacturing Capabilities – End-to-end in-house expertise with advanced processes.
iv) Long-Term Customer Relationships – Strong repeat business from global retailers, promotional companies, and supermarkets.
v) Global Presence – Diversified exports across more than 27 countries, reducing geographical risks.

Objects of the Ecoline Exim Limited IPO:

Company proposes to utilize the Proceeds from Fresh Issue towards funding the following objects: 1. Funding the capital expenditure for setting up a new manufacturing facility at Ahmedabad (₹50 cr) 2. General Corporate Purpose

Ecoline Exim Limited IPO Details:

Open Date: Sep 23 2025
Close Date: Sep 25 2025
Total Shares: 54,20,000
Face Value: ₹ 10 Per Equity Share
Issue Type: Book Building
Issue Size: 76.42 Cr.
Lot Size: 1000 Shares
Issue Price: ₹ 134-141 Per Equity Share
Listing At: NSE Emerge
Listing Date: Sep 30 2025

Promoters And Management:

1. Mr. Sudarshan Saraogi (Chairman, Whole-Time Director & Promoter), aged 46 years. He has been on the Board since July 12, 2008, and associated with the Company since its incorporation. With around 26 years of experience in bag manufacturing and exports, he oversees product development, sales and marketing, administration, and quality control. 2. Mr. Saurabh Saraogi (Managing Director & Promoter), aged 43 years. He has been on the Board since July 12, 2008, and has been associated with the Company since inception. With over 22 years of experience in bag manufacturing and exports, he currently manages procurement, supply chain, production, and financial operations, including budgeting and planning. 3. Ms. Shradha Saraogi (Non-Executive Director & Promoter), aged 44 years, serving on the Board since July 27, 2024. She brings over 12 years of experience in sales, marketing, and export operations and is actively involved in product designing and client interactions.

Financials of Ecoline Exim Limited IPO:

Particulars FY2024-2025 FY 2023-2024 FY 2022-2023
Revenue from Operations 269.28 272.18 303.66
EBITDA 29.99 33.94 30.56
EBITDA Margins 11.14% 12.47% 10.07%
PAT 18.82 22.58 18.85
PAT Margins 6.99% 8.30% 6.21%
ROCE 21.14% 26.45% 29.97%
Debt to Equity Ratio(In Times) 0.45 0.62 0.86
Operating Cash Flows -4.98 20.08 13.55

Comparison With Peers:

According to RHP their is No listed Peers existed in the same Business Segment .

Lead Manager of Ecoline Exim Limited IPO:

  1. Hem Securities Limited

Registrar of Ecoline Exim Limited IPO:

  1. MUFG Intime India Private Limited

Discussion on Ecoline Exim Limited IPO:

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