About Company

• Flair Writing Industries Limited (“Flair”) was incorporated on August 12, 2016. Flair is among the Top-3 players in the overall writing instruments industry with a revenue of ?915.55 crore in Financial Year 2023 and occupy a market share of approximately 9% in the overall writing and creative instruments industry in India, as of March 31, 2023.  
• Flair is also among the Top-2 organized players which have seen faster growth in revenue as compared to overall writing and creative instrument industry growth rate between Financial Year 2017 and 2023; they grew at a CAGR of approximately 14% during the same period. 
• Company’s flagship brand “Flair” has enjoyed a market presence of over 45 years. They manufacture and distribute writing instruments including pens, stationery products and calculators. They have also diversified into manufacturing houseware products and steel bottles. In Financial Year 2023, Flair sold 130.36 crore units of pens, of which 97.53 crore units or 74.82% was sold domestically, and 32.83 crore units or 25.18% was exported globally. 
• Flair had the largest distributor/dealer network and wholesale/retailer network, in the writing instruments segment in India, comprising approximately 7,700 distributors/dealers and approximately 315,000 wholesalers/retailers, as of March 31, 2023. They occupied a market share of 7.1% in the export of writing and creative instruments industry, in FY2023. 
• Flair manufactures and distributes several brands in India and partner with various international brands in the writing instruments industry. Company’s products are sold under the “Flair” brand, their principal brands “Hauser” and “Pierre Cardin” and they have recently introduced “ZOOX” in India.  
• The company also contract manufactures writing instruments as an OEM for export and for sale in India. They also provide customized corporate gifting products to their corporate customers. 
• They launched a range of “Flair Creative” products in Financial Year 2021 which include water colours, crayons, sketch pens, erasers, wooden pencils and geometry boxes, fine liners, sharpeners, and scales. They offered 727 different products as of June 30, 2023. 

• Flair manufactures pens and other products from 11 manufacturing plants located in Valsad, in Naigaon (near Mumbai); in Daman, Union Territory of Dadra and Nagar Haveli and Daman and Diu; and in Dehradun.

Strengths

• Among the Top-3 players in the overall writing instruments industry in India;
• Diversified range of products across various price points catering to a wide spectrum of consumers; 
• Largest pan-India distributor/dealer network and wholesale/retailer network in the writing instruments industry and strong presence in targeted markets abroad;
• Ability to partner with international brands in the writing instruments industry and one of the largest exporter of writing and creative instruments in India;
• High quality manufacturing at a large scale coupled with innovation capabilities;
• Experienced Promoters supported by professional senior management team;
• Historical track-record of strong financial performance with industry-leading profitability; 

Company Promoters

Company Financials

Flair Writing Industries Limited's revenue increased by 62.39% and profit after tax (PAT) rose by 114.14% between the financial year ending with March 31, 2023 and March 31, 2022.

Objects of the Issue

1. Setting up a new manufacturing facility for writing instruments in District Valsad, Gujarat ("New Valsad Unit");

2. Funding capital expenditure of our Company and our Subsidiary, FWEPL;

3. Funding working capital requirements of our Company and our Subsidiaries, FWEPL and FCIPL;

4. Repayment/pre-payment, in part or full, of certain borrowings availed by our Company and our Subsidiaries, FWEPL and FCIPL;

5. General corporate purposes.