TNA Solutions IPO

TNA Solutions manufactures home textile products for domestic and international customers. Its portfolio includes sheet sets, pillow shells and covers, towels, and top-of-bed products such as comforters, mattress protectors and quilts.

The company procures greige and finished fabric, uses third-party processors for dyeing, printing and other wet processing, and undertakes cutting, stitching, embroidery, finishing, quality assurance, packaging and dispatch at its Indore facility.

The company primarily follows a B2B manufacturing model for global retailers, importers and domestic brands, with products sold under customer brands or specified labels. B2B contributed ₹104.1 crore, or 99.6% of FY26 revenue from operations, while B2C contributed ₹0.4 crore, which is 0.4%.

The B2C channel includes e-commerce marketplaces, wholesalers and retailers, and the company-owned Ambra Linens brand launched in 2022. Sheeting was the largest product category in FY26 at 50.9% of revenue from operations, followed by pillow pairs at 31.8%, towels at 13.4% and top-of-bed products at 3.7%. The mix changed materially from FY24, when sheeting contributed 90.13% and pillow pairs 1.55%; the latter rose to nearly one-third of revenue by FY26.

Exports contributed 52.03% of FY26 revenue from operations; domestic sales represented the balance. In FY26, the United States and UAE contributed 20.2% and 15.2% of revenue, respectively. Haryana, Madhya Pradesh and Maharashtra were the leading domestic states at 25.3%, 10.8% and 7.2%.

The company also served customers in Hong Kong, Israel, Italy, Malaysia, Mauritius, Singapore, South Africa and the UK. Installed capacity increased from 13,10,506 metres in F24 to 52,23,386 metres in FY26. Actual output rose at 39,17,540 metres, while capacity utilisation at 75% in FY26.