Bhilwara Technical Textiles Limited (BTTL)

About

Small textile products trading company in the Consumer Discretionary sector with ₹256.78 Cr market cap. Quarterly revenues range ₹1.78–₹2.92 Cr (where reported), generating positive net profit in most quarters despite current operating margin of -17.44%. Promoter-held at 73.71% with minimal institutional participation.

Face value: ₹1

Market cap

₹231 Cr

P/E

28.9×

P/B

1.4×

Dividend yield

0%

ROE

4.3%

ROCE

0.8%

Debt / equity

—

OPM

-17.4%

EPS (TTM)

₹1.4

Book value

₹27.6

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Operating margin collapsed to -17.44% from +15.19% in Sep 2020—verify whether this reflects temporary market stress or structural deterioration in business model.

ROE of 4.32% is critically depressed, destroying shareholder value; clarify whether capital is trapped in non-performing assets or operational distress.

PE ratio of 32.14 is extremely elevated relative to weak profitability and negative margins—establish whether market prices in a specific turnaround or reflects illiquidity misprice.

Revenue reporting gaps for four consecutive quarters (Jun 2020–Dec 2019) combined with current operating losses raise questions about business continuity.

Generated analysis · source review pending

Growth drivers

Operating margin recovery from -17.44% to Sep 2020 level of +15.19% would materially restore profitability from the small net-profit base achieved in recent quarters.

Revenue scaling from ₹1.78–₹2.92 Cr quarterly run rate (where reported) without margin compression drives earnings growth from small absolute base.

Technical textiles sector recovery (verify current demand trends and the company's competitive position) could restore the +15% margins seen in Sep 2020.

Generated analysis · source review pending

2,190 historical price candles were omitted because the exchange source has not been verified.

₹39.5-1.2%1Y

Quick read

rule-based

Pros

+Comfortable interest coverage of 46.7×
+High promoter holding of 73.7% with no pledge

Cons

−Low return on equity of 3.3% (3-yr avg)
−Profit declined 25.1% a year over the last 3 years
−Revenue shrank over the last 3 years (-25.1% a year)

Research score

Structured signal from quality, growth, valuation and momentum.

29/100

Business quality: 25
Growth: 0
Valuation

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Screen this industry Compare top 5 side-by-side

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Pds LimitedPDSLPDSL	₹4,914 Cr	₹6,055 Cr	₹13,554 Cr	₹431 Cr	2.9%	₹118 Cr	1.4%	17.4%	6.5%	4
Bhilwara Technical Textiles LimitedBTTLBTTL	₹231 Cr	—	₹8 Cr	₹-1 Cr	-17.4%	₹8 Cr	89%	0.8%	4.3%	54
Spl Industries LimitedSPLILSPLIL	₹83 Cr	₹83 Cr	₹72 Cr	₹-7 Cr	-11.8%	₹8 Cr	10.2%	3.6%	3.3%	-11
Anand Rayons LtdARLARL	₹75 Cr	₹111 Cr	₹314 Cr	₹8 Cr	2.3%	₹5 Cr	1.7%	13.1%	8.1%	77
Vivaa Tradecom LtdVIVAAVIVAA	₹54 Cr	—	₹285 Cr	₹1 Cr	0.5%	₹1 Cr	0.2%	—	—	—
Heads Up Ventures LimitedHEADSUPHEADSUP	₹14 Cr	₹14 Cr	₹6 Cr	₹-4 Cr	-8.9%	₹-3 Cr	-0.2%	1.4%	-0.2%	28
Sanblue Corporation LtdSANBLUESANBLUE	₹14 Cr	₹14 Cr	₹2 Cr	₹-0 Cr	-9.4%	₹0 Cr	6%	0.4%	0.4%	-2
Globale Tessile LimitedGLOBALEGLOBALE	₹11 Cr	₹22 Cr	₹25 Cr	₹-1 Cr	-10.2%	₹-1 Cr	-9.7%	-7.9%	-14.6%	195
Nivaka Fashions LtdNIVAKANIVAKA	₹8 Cr	₹9 Cr	₹1 Cr	₹-0 Cr	—	₹-1 Cr	—	-59.1%	-74.6%	-114
Svarnim Trade Udyog LtdSNIMSNIM	₹3 Cr	₹3 Cr	₹0 Cr	₹-0 Cr	—	₹-0 Cr	—	-560%	—	—

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Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	7	19	13	14	8
COGS	4	13	9	11	5
Gross profit	3	7	3	4	3
	3	6	3	4	5
Operating profit (EBITDA)	0	1	0	0	-1
OPM %	0.2%	4.3%	2.8%	0.3%	-17.4%
Depreciation	0	0	0	0	0
Interest	0	0	0	0	0
	1	1	2	13	9
Profit before tax	8	18	-4	13	8
Tax	0	0	1	0	1
Tax %	2.8%	1.3%	16.3%	2.7%	6.4%
	8	17	-4	13	7
PAT margin %	122.6%	89%	-32.5%	89.6%	89%
EPS (₹)	1.4	3	-0.7	—	—
EPS adjusted (₹)	1.4	3	-0.7	2.2	1.3
Annual report	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025

₹ Cr	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	6	6	6	6	6	6	6	6	6
Reserves	117	128	124	133	150	146	159	167	155
	—	—	—	0	0	0	0	0	—
	0	1	0	0	1	2	1	1	1
Total equity & liabilities	123	136	130	139	157	154	166	173	162
	0	0	0	0	0	0	0	0	0
CWIP	—	—	—	—	—	—	—	—	—
Investments	113	132	124	137	154	152	164	169	151
	10	4	7	2	3	2	2	5	11
Total assets	123	136	130	139	157	154	166	173	162

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Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Margins
Gross margin %	41.4%	34.7%	25.2%	26.9%	40.7%
EBITDA margin %	0.2%	4.3%	2.8%	0.3%	-17.4%
EBIT margin %	0.2%	4.3%	2.8%	0.3%	-17.4%
PAT margin %	122.6%	89%	-32.5%	89.6%	89%
Working capital
Receivable days	4	17	4	16	0
Inventory days	67	47	33	15	64
Payable days	1	1	29	24	10
NWC days	70	63	8	6	54
Leverage
Current ratio	28.04	10.16	6.08	11.47	38.62
Debt to EBITDA	0	0.1	0	0	—
Debt to equity	0	0	0	0	0
Interest coverage	—	58	203	168	46.7
Asset turnover	0.05	0.12	0.08	0.09	0.05
Return ratios
Return on assets %	5.7%	11%	-2.6%	7.7%	4.2%
Return on capital employed %	1%	1.2%	1.3%	1.1%	0.8%
Return on equity %	5.8%	11.1%	-2.7%	7.8%	4.2%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

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Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	71.27%	71.27%	71.27%	71.27%	71.27%	72.17%	72.94%	73.2%	73.2%	73.54%	73.54%	73.71%
FII	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	0.14%	0.14%	0.14%	0.14%	0.14%	0.14%	0.14%	0.14%	0.14%	0.14%	0.14%	0.14%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	28.59%	28.59%	28.59%	28.59%	28.59%	27.69%	26.92%	26.66%	26.66%	26.32%	26.32%	26.15%
No. of shareholders	—	—	—	—	—	—	—	—	11,604	11,462	11,283	11,825

Promoter holding up 2.44 percentage points since Sep 2023.

7 deals · 23 Jun 2023 – 13 Mar 2025

Date	Client	Type	Venue	Side	Quantity	Price	Value
13 Mar 2025	SITA NIRMAN PVT LTD	Bulk	BSE	Buy	4,49,975	₹41.62	₹1.87 Cr
27 Dec 2024	SITA NIRMAN PVT LTD	Bulk	BSE	Buy	5,01,898	₹44.79	₹2.25 Cr
27 Dec 2024	BSR FINANCE AND CONSTRUCTION LTD	Bulk	BSE	Sell	3,00,000	₹44.79	₹1.34 Cr
18 Aug 2023	SITA NIRMAN PVT LTD	Bulk	BSE	Buy	3,21,790	₹18.65	₹0.60 Cr
18 Aug 2023	NEWWAVE COMMOSALE LIMITED	Bulk	BSE	Sell	3,10,000	₹18.65	₹0.58 Cr
23 Jun 2023	SITA NIRMAN PVT LTD	Bulk	BSE	Buy	3,00,010	₹14.72	₹0.44 Cr
23 Jun 2023	SHRESTH BUILDERS PRIVATE LIMITED	Bulk	BSE	Sell	3,00,000	₹14.72	₹0.44 Cr

1–7 of 7

1 / 1

Bulk deals are a client trading over 0.5% of the equity in a session, aggregated across their trades; block deals are single negotiated trades in the exchange’s block window. Each is reported by the exchange it was crossed on, so NSE and BSE rows are separate trades rather than the same trade twice.

Mr. Shekhar AgarwalExecutive Director-Chairperson-CEO-MD
Mr. Shantanu AgarwalNon-Executive - Non Independent Director
Mr. Riju JhunjhunwalaNon-Executive - Non Independent Director
Mr. Rakesh Kumar OjhaNon-Executive - Independent Director
Mrs. Archana CapoorNon-Executive - Independent Director
Mr. Manish GuptaNon-Executive - Independent Director
Mr. Avnish MauryaChief Financial Officer, Company Secretary & Compliance Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

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F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

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Fund holders

Mutual-fund schemes that disclosed a holding in the company.

No fund holdings on record

No scheme among the 32 fund houses on record reported a position in Bhilwara Technical Textiles Limited. Portfolios are published monthly by each AMC; coverage is still partial.

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Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

30

Annual reports

17

Documents link to external sources (exchange filings, company investor pages).

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Events

Upcoming dates and the company’s corporate-action history.

1

Board meeting to consider results13 Aug 2026

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

57 announcementsExport CSV

30 Sept 2026, 6:26 pmCompany Update

Update On Special Window For Re-Lodgment Of Transfer Requests Of Physical Shares

General PDF

27 Aug 2026, 7:27 pmAGM/EGM

Voting Results Of 19Th AGM Under Regulation 44(3) Of SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015

AGM PDF

27 Aug 2026, 7:24 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Scrutinizer''s Report

AGM PDF

27 Aug 2026, 4:11 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Outcome of AGM

AGM PDF

14 Aug 2026, 11:54 amCompany Update

Announcement under Regulation 30 (LODR)-Newspaper Publication

Newspaper Publication PDF

7 Aug 2026, 3:46 pmCompany Update

Update On Special Window For Re-Lodgment Of Transfer Requests Of Physical Shares

General PDF

7 Aug 2026, 3:43 pmCompany Update

Update On Special Window For Re-Lodgment Of Transfer Requests Of Physcial Shares

General PDF

30 Jul 2026, 12:54 pmCompany Update

Announcement under Regulation 30 (LODR)-Newspaper Publication

Newspaper Publication PDF

Date	Category	Subject	Filing
30 Sept 2026, 6:26 pm	Company Update General	Update On Special Window For Re-Lodgment Of Transfer Requests Of Physical Shares	PDF
27 Aug 2026, 7:27 pm	AGM/EGM AGM	Voting Results Of 19Th AGM Under Regulation 44(3) Of SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015

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Bhilwara Technical Textiles Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Annual reports

Events

1

Announcements

Not in the F&O segment

No fund holdings on record

1

Announcements

Annual reports

Compounded sales growth

Compounded profit growth

Return on equity

₹ Cr	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	-0	-1	0	0	-1	4	-0	-0	-2
	0	1	0	-0	0	-3	0	1	3
	0	0	0	0	0	-0	-0	-0	-0
Net cash flow	-0	0	0	-0	0	0	-0	0	1
Free cash flow	—	—	—	0	-1	—	—	—	—
CFO / Operating profit %	—	—	—	100%	-61.9%	—	—	—	—

Bhilwara Technical Textiles Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Ratios

Ratio timeline

Shareholding

Quarterly record

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

No fund holdings on record

Documents

Announcements

Annual reports

Events

Board meetings1

Announcements

Ratio timeline

Quarterly record

Bulk & block deals

Board and management

Not in the F&O segment

No fund holdings on record

Board meetings1

Announcements

Annual reports

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

1

1