Investor Dashboard
Key financial KPIs at a glance — % against revenues in QuickBooks-statement style.
Revenue Mix · % of Top Line
Cost Structure · % of Operating Cost
Use of Funds · % of $8.0M Raise
Problem & Solution
16-year operating history · $45M+ revenue · scaling premium positioning
The Problem
Mid-market apparel manufacturers with 15+ year track records, established bank relationships, and consistent profitability are structurally under-capitalized. Family-owned governance and inventory-heavy balance sheets (~298 days of inventory) limit growth velocity even as revenue compounds and margins remain healthy.
Our Solution
Growth capital into a 16-year-old apparel manufacturer with FY22 revenue of ~$45.6M, net profit ~$0.86M, and EBITDA ~$2.12M. The platform has 501–1,000 employees, established secured banking lines (~$5.71M facility from a top-3 private bank), and a multi-decade promoter-led leadership team.
Market Opportunity
$1.7T global apparel addressable today
India apparel export market in the $15B+ range with consistent growth
B2B and B2B2C apparel manufacturing with multi-channel distribution. Revenue ~$45.6M FY22 (29% YoY growth from FY21 $35.2M). Gross margin ~50%, net margin ~1.9%. Asset turnover 1.69x; ROCE ~9.9%; ROE ~22.6%. Working capital heavy — 298 days of inventory.
Financial Statements · % vs Revenue
QuickBooks-style readout — every line shown as percentage of its parent total.
Revenue Mix
| Revenue Stream | % of Revenue | Share |
|---|---|---|
| Domestic Wholesale | 50.0% | 50% |
| Export / International | 30.0% | 30% |
| DTC / Brand Retail | 12.0% | 12% |
| Private-Label Manufacturing | 8.0% | 8% |
| Total Revenue | 100.0% | 100% |
Cost Structure
| Cost Line | % of Cost | Share |
|---|---|---|
| Cost of Materials | 50.0% | 50% |
| Employee Benefits | 7.0% | 7% |
| Other Mfg & Operating | 38.0% | 38% |
| Finance Costs | 2.0% | 2% |
| D&A | 1.0% | 1% |
| Tax & Misc | 2.0% | 2% |
| Total Operating Cost | 100.0% | 100% |
Use of Funds — $8.0M Raise
| Allocation | % of Raise | Share |
|---|---|---|
| Working Capital / Inventory Compression | 45.0% | 45% |
| Capacity Expansion | 25.0% | 25% |
| Brand & DTC Build-Out | 15.0% | 15% |
| Technology / ERP | 10.0% | 10% |
| Debt Repayment | 5.0% | 5% |
| Total Use of Funds | 100.0% | 100% |
Traction & Proof Points
- 16-year continuous operating history · FY22 revenue ~$45.6M (29% YoY growth)
- EBITDA ~$2.12M (FY22) · 5-year net-profit CAGR ~49%
- Established secured-credit relationship with a tier-1 private bank (~$5.71M facility)
Moat & Exit Strategy
Defensible Moat
16 years of unbroken operation, established banking relationships with a top-3 private bank, 501–1,000 trained workforce, and a 49% 5-year net-profit CAGR demonstrate compounding execution capability. Inter-related group companies provide capital flexibility and procurement leverage.
Exit Path
Strategic sale to a global apparel sourcing platform at 1–1.5x revenue / 8–10x EBITDA within 5–7 years, or a controlled IPO on an Indian exchange once inventory days are normalized below 180 and net margin expands above 4%.
Key Risks
- High inventory days (~298) creating significant working-capital lock
- High leverage — debt/equity 3.69x at FY22; interest coverage 2.8x
- Family-owned governance with concentrated promoter shareholding