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ECOLINE IPO

Ecoline Exim Limited

IPO Doc

Start Date23-09-2025

Application Timing10am-5pm

Price Range₹134 - ₹141

Min Qty1000

Min. Investment₹134000

Listing Date30-09-2025

Close Date25-09-2025

About Ecoline Exim Limited

Incorporated in 2008, Ecoline Exim Limited is a leading manufacturer of sustainable packaging and promotional bags made from cotton and jute. The company supplies its eco-friendly products to over 27 countries, including the USA, European Union, Japan, Southeast Asia, and Mexico.

Ecoline Exim functions as an OEM, providing packaging solutions to supermarkets, retail chains, wholesalers, and promotional companies. Currently, the company operates three manufacturing units — one in Ahmedabad, Gujarat, and two in West Bengal.

Its product portfolio includes:

Cotton Bags – Conventional Bags, Organic Cotton Bags, Fairtrade Cotton Bags

Jute Bags – Jute shopping bags produced using standard jute fabric

As of March 31, 2025, the company employs 201 permanent staff and 339 contractual workers.

Why To Invest in Ecoline Exim Limited

Eco-friendly Business Model: Focus on sustainable growth through Reduce, Reuse, and Recycle.

Global Presence: Strong exports to 27+ countries with long-term customer relationships.

Strategic Manufacturing Units: In-house production facilities in Gujarat and West Bengal with design capabilities.

Quality Assurance: Robust quality control systems ensuring consistent product standards.

IPO Utilisation: Funds to be used for setting up a new manufacturing facility in Ahmedabad to scale growth.

Financial Table

Period Ended	31 Mar 2025	31 Mar 2024	31 Mar 2023
Assets	146.31	128.72	104.46
Total Income	273.07	280.59	310.67
Profit After Tax	18.82	22.59	18.86
EBITDA	29.99	33.94	30.57
NET Worth	88.45	71.70	49.11
Reserves and Surplus	72.27	70.54	47.96
Total Borrowing	39.89	44.81	42.47

Strengths And Risks

Strong Global Presence: The company exports eco-friendly packaging products to more than 27 countries, ensuring a well-diversified international market reach.

Established Customer Relationships: Long-standing associations with supermarkets, retail chains, and wholesalers strengthen its business sustainability.

Sustainable Business Model: Focused on the three R’s of the environment – Reduce, Reuse, and Recycle – aligning with global demand for eco-friendly solutions.

In-house Manufacturing Capabilities: Strategically located facilities in Gujarat and West Bengal allow cost-efficient operations and better control over quality.

Consistent Financial Track Record: Despite recent dips, the company has maintained profitability and strong return ratios such as ROE of 23.51% and ROCE of 21.14%.

Recent Decline in Financial Performance: Revenue dropped by 3% and profit after tax fell by 17% in FY25 compared to FY24.

High Dependence on Exports: With major revenue from overseas markets, the business is exposed to global trade risks and currency fluctuations.

Competitive Industry: The packaging industry faces intense competition from domestic and international players, which may impact market share.

Equity Dilution Impact: Post-IPO dilution is expected to reduce EPS from Rs. 11.64 to Rs. 9.17, affecting earnings per share.

Raw Material Price Volatility: Dependence on cotton and jute makes margins vulnerable to fluctuations in raw material prices.

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Company

Astha Credit & Securities Pvt Ltd NSE, BSE & MCX SEBI Reg No:

INZ000187932

Membership ID:

NSE - 12227 BSE-6844 MCX - 40000 NSDL-IN303420 CDSL-94500

CIN:

U65929MP2003PTC016241

SEBI Depository Participant Reg No:

IN-DP-611-2021

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SEBI RA Registration:

INH000013332

AMFI Registration:

ARN-35911

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We do proprietary trading

Client Bank Account Details:

Sr. No	Name of Bank Account	Bank Account Number	IFSC Code
1	ASTHA CREDIT AND SECURITIES P LTD - USCNBA A/c	00620340000150	HDFC0000062

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ECOLINE IPO

About Ecoline Exim Limited

Why To Invest in Ecoline Exim Limited