Flair Writing Industries Limited
Start Date22-11-2023
Application Timing10am-6pm
Price Range₹288 - ₹304
Min Qty49
Min. Investment₹14112
Listing DateNA
Close Date24-11-2023

About Flair Writing Industries Limited

Flair is among the top three players in the writing instruments industry with a revenue of Rs 915.5 Cr in FY '23 and occupy a market share of 9% in the overall writing and creative instruments industry in India. 

They manufacture and distribute pens, stationery products and calculators. Leveraging on their manufacturing capabilities, and our existing customer base, They have also diversified into manufacturing houseware products and steel bottles. Their flagship brand “Flair” has enjoyed a market presence of over 45 years. Company has the largest distributor and retailer network, in the writing instruments segment in India among peers.

Flair grew at a CAGR of 14% between 2017-2023, much higher than industry growth rate of 5.5% for the same period. They reported the highest operating and net income margins of 17.8% and 9.6%, respectively, in Financial Year 2022, compared to its peers. 

Why To Invest in Flair Writing Industries Limited

Established brand name, among the top three players in writing instruments industry with a market share of 9% in the overall writing and creative instruments industry in India. The IPO proceeds will be utilised for setting up a new manufacturing facility in Gujrat, funding capital expenditure and working capital requirements, and repayment of borrowings.

Strengths And Risks
Market Leadership: Flair is among the top three players in the overall writing instruments industry with market share of 9% and ability to further consolidate their leadership position with brand credibility and focus on innovation. in the market.
Diversified Range of Products: They have an extensive product range across various price points and consumer segments, including pen products, creative and stationery products and calculators. They offer 727 different products across categories.
Exports and International Partnerships: We are recognized for our leading position in the export business for writing and creative instruments and have received awards such as “Top Exporter” from the Plastics Export Promotion Council. They have established long-term relationships with international companies for which they manufacture and distribute or are a contract manufacturer.
Manufacturing Capability: Flair has 11 high quality manufacturing facilities and they produce products at lower cost in addition to having the flexibility to innovate and develop products that satisfy changing consumer preferences in design and function.
Strong Financial Performance: Company has an established track-record of strong and consistent financial performance, with revenue from operations, profit after tax, EBITDA and return on capital employed ratio having grown at a CAGR of 77.8%, 992.7%, 133.2% and 200.0%, respectively, from FY 2021 to FY 2023.
High Competition: Competition from unorganized and organized players in the Indian writing and creative instruments industry could have a material adverse effect on Flair's business, prospects, or financial results.
Changing Consumer Preferences: The success in retail business depends upon company's ability to anticipate and identify changes in consumer preferences and offer products that consumers require. Delays in any part of the process or failure of a product to be successful at any stage could adversely affect business.
Mass Market Segment: The writing instruments industry is highly concentrated in the mass-market segment with writing instruments sold between Rs. 5 and Rs. 15. An inability to increase prices or any failure to achieve high retail penetration may impact market share. us to lose market share, which could have a material adverse effect on our business,
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