Buyout Opportunity: Leading Apparel & Innerwear Manufacturer in North India

Introduction: Project Radiance is an unlisted Public Company incorporated in 1979. The Company initially started with “Thermal and  Inner wear” as it’s flagship business which is now expanded in multiple other categories.  Project Radiance’s vision is to provide unique and international quality clothing to every Indian and to this endeavor the Company has been continuously focused on raising the standards of Quality and Innovation. Project Radiance is located in Northern India.

Project Radiance’s Product Segments include:

a) Thermal wear
b) Active wear
c) Sweaters
d) Jackets
e) Lingerie
f) Innerwear for men, women and kids

Brand Overview

a) Project Radiance has 6 popular brands across Thermal Wear, T-shirts, Innerwear and Active Wear

b) GTM : Large Format Stores, Franchisees & E-commerce

c) 95+ Exclusive Retail Stores

d) 200+ Channel Partners

e) 4,000+ Retail Touch points

Manufacturing: Project Radiance’s approach towards Product quality is based on the concept of “Clothing for Life”. The features of Project Radiance Products are :

a) Fine Strechability
b) Durability
c) Neat Stitching
d) Perfect Fit

The registered office and manufacturing units are located in a North Indian State. The factories have in-house facilities right from Yarn Dying, Knitting, Fabric Processing and Manufacturing of Finished Garments.
Project Radiance has state-of-art machinery for Garment processing and manufacturing with a daily production capacity of 25,000 pieces. The machinery at Project Radiance is imported from Japan, Germany and USA

Physical Infrastructure

a) Land of 10000 sqmtr.
b) Building
c) 30 Knitting Machines
d) 50 Stitching Machines

The market value of Land and Building is estimated to be around INR 15 Cr

Workforce: Project Radiance is supported by highly skilled workforce, the Production team has ~15 years of association with the Company. The highly skilled workforce with decades of experience ensures consistency, reliability and innovation in the Products

Recognitions: Project Radiance is ISO 9001:2015 certified and holds ZED Bronze certification demonstrating strong focus on Quality and Process Excellence.

Transaction Overview: The Promoters of Project Radiance is seeking a 100% buyout. The broad reason for seeking exit is to enable
the promoters to monetize their investment as there is no immediate succession plans. Also the Promoters
would like the Company, Employees and the Brand to be handed over Strategic buyers with a vision for further
Growth.

The investment rationale for a Potential Acquirer is as under

a) Legacy Brand with a good recall
b) Strong Distribution Network
c)  Integrated Manufacturing Capabilities
d) Strong Brand Presence and Recall
e) Infrastructure whose market value is significantly higher than Book value.

Financials: FY 25 Revenue was INR 100 Cr, Gross margin of 41%

Products & Services

Branded Apparel. Project Radiance’s Product Segments include:

1. Thermal wear
2. Active wear
3. Sweaters
4. Jackets
5. Lingerie
6. Innerwear for men, women and kids

Additional Information

Already covered in the Brief