Studds Accessories IPO Company Profile:

Established in 1983, STUDDS (“Studds Accessories Limited”) today is the largest and one of the leading manufacturers of helmets in the world. STUDDS has a presence in more than 50 countries throughout the world, including Asia, Europe, Latin America, and the Middle East, and offers a comprehensive selection of two-wheeler helmets and accessories. The company has four backward integrated state-of-art manufacturing facilities that develop helmets, and motorcycle accessories that cater to the needs of the consumers. These four manufacturing facilities are strategically located in Faridabad and have a capacity of manufacturing over 14 million helmets every year. The R&D team continuously innovates and experiments with different designs. The team also tests the product rigorously to ensure its safety and comfort. The helmets are manufactured with the latest technology and have all the necessary certifications.

Studds Accessories Limited’s Business Verticals:

  • Helmets
  • Motorcycle accessories
  • Bicycle helmets
  • Face shields, face masks

Governments around the world are starting to take initiatives to place rigorous rules on the use of helmets. With the number of road accidents increasing, the authorities are trying to mitigate this by mandating and promoting the use of helmets. The growing market of the EV segment also presents new opportunities for the Company. EVs with a top speed of more than 25km/hr requires helmets as a compulsory component in India. Electric two-wheelers in India have experienced a high rise in FY 2022, with a growth of 460% over FY 2021. This gives the company a huge room for expansion.

Studds Accessories IPO Details:

IPO Open Date Not Available
IPO Close Date Not Available
Listing Date Not Available
Face Value ₹5 per share
Price Not Available
Lot Size Not Available
Issue Size Not Available
Fresh Issue Not Available
Offer for Sale Not Available
Issue Type Book Built Issue IPO
Listing At BSE, NSE
QIB Shares Offered Not Available
NII (HNI) Shares Offered Not Available
Retail Shares Offered Not Available
Promoters Madhu Bhushan Khurana and Sidhartha Bhushan Khurana

Studds Accessories IPO Shareholders holding more than 5% Equity Shares:

S. No. Name of the Shareholder No. of Equity Shares


Percentage % of total shares
1. Madhu Bhushan Khurana 1,08,92,880 55.36%
2. Sidhartha Bhushan Khurana 28,14,480 14.30%
3. Chand Khurana 16,48,800 8.38%
Total   4,98,70,26,060 78.04%

Studds Accessories IPO Financial Analysis :

Particulars FY-22(in cr.) FY-21(in cr.) YoY
Revenue from Operations 462.51 479.62 -3.6%
Other Income 5.48 4.60 19.2%
Operational Cost 251.04 222.21 13.0%
Employee Cost 58.24 55.97 4.1%
Other expenses 99.00 90.94 8.9%
EBITDA 59.70 115.10 -48.1%
EBITDA margin% 12.91% 24.00%  
Depreciation 16.63 13.35 24.6%
Interest 3.06 3.46 -11.8%
PBT 40.02 98.29 -59.3%
Total tax 11.38 24.30 -53.2%
PAT 28.64 73.99 -61.3%
PAT margin% 6.19% 15.43%  

Studds Accessories IPO Revenue from Operations:

Region FY-22(in cr.) %Contribution FY-21(in cr.) %Contribution
Inland Sales 378.33 79.55% 442.26 89.14%
Exports Sales 97.28 20.45% 53.87 10.86%
Total Sales 475.62 100.00% 496.13 100.00%
Less: Discount & Incentives 13.11 16.52
Net Sales 462.51 479.62