Shringar House of Mangalsutra Limited - IPO

Incorporated in January 2009, Shringar House of Mangalsutra Limited manufactures and designs Mangalsutra in India.

The company designs, manufactures, and markets a diverse collection of Mangalsutra featuring various stones like American diamonds, cubic zirconia, pearls, and semi-precious stones, using 18k and 22k gold for its business-to-business (B2B) clients.

The company sells its products to corporate clients, wholesale jewellers, and retailers nationwide.

As of September 30, 2024, the company has also sold its products to countries such as the United Kingdom, New Zealand, UAE, USA, and the Republic of Fiji.

The company’s domestic and international corporate clients include Malabar Gold Limited, Titan Company Limited, GRT Jewellers, Reliance Retail, Joyalukkas India, and Damas Jewellery (UAE), among others

As of September 30, 2024, the company has served 31 corporate clients, 76 wholesalers, and 731 retailers. In Fiscal Year 2024, it served 33 corporate clients, 96 wholesalers, and 832 retailers.

For the six months ending September 30, 2024, and the fiscal years 2024, 2023, and 2022, the company processed 638.48 kgs, 1,221.19 kgs, 1,272.11 kgs, and 870.26 kgs of bullion into Mangalsutras, generating revenues of ₹115.48 million, ₹193.24 million, ₹156.47 million, and ₹99.98 million, respectively.

As of December 31, 2024, the company has an in-house design team of 12 employees focused on developing new products that align with the latest trends and customer preferences. Additionally, the company employs 182 in-house Karigars and collaborates with third-party Karigars to meet growing market demand.

Competitve Strength

• Established client base and long-standing relationships with the clients.
• Design innovation and diversified product portfolio.
• Integrated Manufacturing Facility.
• Quality assurance and quality control of Mangalsutras.
• Continuously improving financial performance.
• Experienced Promoters and a professional management team.