Candour Techtex Ltd (CANDOUR)

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Candour Techtex Ltd (CANDOUR) · mywealthgrid

About

Candour Techtex manufactures industrial plastic products serving industrial end-markets. Operates at ₹45–54 Cr quarterly revenue with exposure to capital-goods, infrastructure, and allied sectors.

Face value: ₹10

Market cap

₹170 Cr

P/E

262.8×

P/B

1.3×

Dividend yield

ROE

-1.8%

ROCE

Debt / equity

0.15

OPM

1.7%

EPS (TTM)

₹0.3

Book value

₹52.6

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Margin collapse in latest quarter: Mar 2025 recorded 0.06% OPM despite 27% YoY revenue growth (₹53.82 Cr vs ₹42.17 Cr), indicating cost control failure or severe underutilization

Severe earnings volatility with losses in 4 of last 8 quarters; thin operating margins (3.33% TTM) combined with moderate leverage (D/E 1.25) amplify distress risk in cycle or margin squeeze

Low insider conviction (promoter 25.27%) and zero institutional investment (0% FII/DII) signal weak confidence from both management and market participants

Verify end-market exposure to industrial capex cycles, customer concentration, and competitive positioning in industrial plastics segment

Generated analysis · source review pending

Growth drivers

Revenue grew 28% from ₹41.87 Cr (Jun 2023) to ₹53.82 Cr (Mar 2025) demonstrating sales momentum and customer acceptance of industrial plastic products

Sep 2024 achieved 5.26% OPM and Jun 2024 achieved 4.57% OPM, evidencing margin potential if production efficiency or capacity utilization improves

Industrial plastics market structurally tied to capex, infrastructure, and capital-goods investment—verify whether economic environment currently supports volume or pricing gains

Generated analysis · source review pending

2,049 historical price candles were omitted because the exchange source has not been verified.

₹69.5-0%1Y

Quick read

rule-based

Pros

No positive flags triggered.

Cons

−Low return on equity of -1.2% (3-yr avg)
−Thin operating margin of 1.7%
−Revenue shrank over the last 5 years (-3.5% a year)
−Weak interest coverage of 0.5×
−Expensive at 262.8× trailing earnings
−Low promoter holding of 25.3%
−Promoter holding fell 9.1 pts over the last year

Research score

Structured signal from quality, growth, valuation and momentum.

32/100

Business quality: 18
Growth: 50

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
Supreme Industries LimitedSUPREMEINDSUPREMEIND	₹42,926 Cr	₹42,926 Cr	₹11,326 Cr	₹1,632 Cr	13.9%	₹1,032 Cr	8.5%	19.1%	16.1%	44
Garware Hi-Tech Films LimitedGRWRHITECHGRWRHITECH	₹16,067 Cr	₹16,067 Cr	₹2,258 Cr	₹497 Cr	20.5%	₹388 Cr	16%	17.6%	13.5%	89
Finolex Industries LimitedFINPIPEFINPIPE	₹9,338 Cr	₹9,775 Cr	₹3,954 Cr	₹692 Cr	16.5%	₹615 Cr	14.6%	12.2%	9.7%	133
Kingfa Science & Technology (India) LimitedKINGFAKINGFA	₹8,958 Cr	₹8,958 Cr	₹2,222 Cr	₹314 Cr	13.1%	₹226 Cr	9.3%	23.6%	17.4%	100
Time Technoplast LimitedTIMETECHNOTIMETECHNO	₹8,869 Cr	₹9,508 Cr	₹6,445 Cr	₹922 Cr	14.6%	₹490 Cr	7.8%	18.2%	13.4%	161
Prince Pipes And Fittings LimitedPRINCEPIPEPRINCEPIPE	₹2,731 Cr	₹2,871 Cr	₹2,627 Cr	₹270 Cr	8.9%	₹102 Cr	2.8%	6.4%	4.5%	71
Apollo Pipes LimitedAPOLLOPIPEAPOLLOPIPE	₹2,255 Cr	₹2,379 Cr	₹1,125 Cr	₹49 Cr	6%	₹-15 Cr	0.4%	2.1%	0.6%	58
Jain Irrigation Systems LimitedJISLJALEQSJISLJALEQS	₹1,951 Cr	₹6,013 Cr	₹6,362 Cr	₹765 Cr	12.5%	₹-53 Cr	-0.6%	7.3%	-0.4%	230
Jai Corp LimitedJAICORPLTDJAICORPLTD	₹1,571 Cr	₹1,571 Cr	₹541 Cr	₹70 Cr	10.6%	₹93 Cr	32.9%	13.1%	11.7%	269
Premier Polyfilm LimitedPREMIERPOLPREMIERPOL	₹949 Cr	₹949 Cr	₹365 Cr	₹50 Cr	13.6%	₹35 Cr	9.4%	31.2%	24.1%	102
R M Drip And Sprinklers Systems LimitedRMDRIPRMDRIP	₹587 Cr	₹640 Cr	₹207 Cr	₹53 Cr	26.6%	₹35 Cr	17.7%	33.6%	31.5%	268
Prakash Pipes LimitedPPLPPL	₹582 Cr	₹621 Cr	₹780 Cr	₹118 Cr	15.1%	₹83 Cr	10.7%	28.6%	20.5%	—

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Financials

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

Annual Quarterly

Standalone figures · ₹ crore · years without a filed annual are summed from quarters

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	13	54	64	11	12	70	174	60	185	188	58
COGS	-10	-44	-57	-4	-5	63	164	51	172	172	45
Gross profit	—	—	—	—	—	6	10	9	13	16	13
	23	97	118	15	16	6	7	8	11	10	12
	-1	0	2	0	1	1	3	0	2	6	1
OPM %	-5.2%	0.6%	3.6%	3.6%	10.8%	1.3%	1.7%	0.4%	1.1%	3.3%	1.7%
Depreciation	0	1	1	1	1	2	2	2	4	4	4
Interest	—	0	0	0	0	1	0	1	3	3	2
	1	1	1	1	1	2	2	4	3	2	4
Profit before tax	0	1	3	0	0	1	2	2	-1	1	-1
Tax	-0	0	1	0	0	0	1	0	-0	1	0
Tax %	-100%	32.7%	25.8%	20%	60%	7.6%	28.3%	0%	-29.1%	50.4%	21.5%
	0	0	2	0	0	1	2	2	-1	1	-1
PAT margin %	0.2%	0.7%	3.3%	1.7%	0.7%	1.6%	1%	3.9%	-0.6%	0.3%	-2.5%
EPS (₹)	—	0.2	1.3	0.1	0.1	0.7	—	—	—	0	-0.8
EPS adjusted (₹)	—	—	—	—	0.1	0.7	1	1.4	-0.6	0.4	-0.6
Annual report	Annual report for Mar 2016	Annual report for Mar 2017	Annual report for Mar 2018	Annual report for Mar 2019	Annual report for Mar 2020	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 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	16	16	17	17	17	18	24
Reserves	—	4	9	12	11	21	104
Minority interest	—	—	—	—	—	—	0
	—	3	3	17	35	25	19
	—	35	9	12	11	16	14
Total equity & liabilities	—	59	39	58	74	80	162
	8	9	9	9	46	48	48
CWIP	—	0	1	25	0	0	0
Investments	—	1	1	1	0	0	0
	—	48	28	23	28	31	113
Total assets	—	59	39	58	74	80	162

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Ratios

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

Standalone figures

Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	—	—	9.3%	5.8%	14.4%	7%	8.6%	22%
EBITDA margin %	3.6%	10.8%	1.3%	1.7%	0.4%	1.1%	3.3%	1.7%
EBIT margin %	-2.2%	0%	-0.8%	0.8%	-2.4%	-0.8%	1.2%	-5.3%
PAT margin %	1.7%	0.7%	1.6%	1%	3.9%	-0.6%	0.3%	-2.5%
Working capital
Receivable days	—	—	169	4	13	5	12	20
Inventory days	—	—	6	3	13	8	13	54
Payable days	—	—	167	7	19	8	23	48
NWC days	—	—	8	-0	7	5	2	26
Leverage
Current ratio	—	—	1.25	2.85	1.17	0.93	1.45	4.39
Debt to EBITDA	—	—	3.41	1.15	82	16.42	3.93	19.25
Debt to equity	—	—	0.15	0.13	0.6	1.25	0.63	0.15
Interest coverage	2.5	1.4	1.2	6.2	5.5	0.4	1.5	0.5
Asset turnover	—	—	1.18	4.51	1.02	2.51	2.35	0.36
Return ratios
Return on assets %	—	—	1.9%	4.5%	3.9%	-1.4%	0.8%	-0.9%
Return on capital employed %	—	—	2.7%	10%	7.3%	2.2%	7.2%	1%
Return on equity %	—	—	5.3%	6.6%	8%	-3.8%	1.6%	-1.1%

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
	35.4%	35.4%	35.4%	35.4%	35.4%	35.4%	34.36%	34.36%	32.89%	32.89%	25.27%	25.27%
	0.5%	0.5%	0.5%	0.5%	0.5%	0%	0%	0%	0%	0%	0.65%	0%
	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0.41%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	64.1%	64.1%	64.1%	64.1%	64.1%	64.6%	65.64%	65.64%	67.11%	67.11%	74.08%	74.32%
No. of shareholders	—	—	—	—	—	—	—	—	3,912	4,745	4,764	4,780

Promoter holding down 10.13 percentage points since Sep 2023.

28 deals · 15 Dec 2021 – 22 May 2026

Date	Client	Type	Venue	Side	Quantity	Price	Value
22 May 2026	NIRAJ RAJNIKANT SHAH	Bulk	BSE	Sell	1,51,595	₹81.53	₹1.24 Cr
21 May 2026	NIRAJ RAJNIKANT SHAH	Bulk	BSE	Sell	1,93,276	₹81.81	₹1.58 Cr
16 Apr 2026	NIRAJ RAJNIKANT SHAH	Bulk	BSE	Buy	1,00,000	₹143.94	₹1.44 Cr
11 Feb 2026	PRAVIN RATANLALJI JAIN	Bulk	BSE	Buy	1,50,000	₹157.85	₹2.37 Cr
11 Feb 2026	NIRAJ RAJNIKANT SHAH	Bulk	BSE	Buy	1,37,016	₹160.63	₹2.20 Cr
11 Feb 2026	RAJESH KANJI SHAH	Bulk	BSE	Sell	96,000	₹157.46	₹1.51 Cr
10 Feb 2026	HARDIK KISHOR MOTTA	Bulk	BSE	Buy	1,16,528	₹156.05	₹1.82 Cr
10 Feb 2026	HARDIK KISHOR MOTTA	Bulk	BSE	Sell	71,528	₹157.43	₹1.13 Cr
3 Feb 2026	PINE OAK GLOBAL FUND	Bulk	BSE	Buy	1,00,000	₹149.45	₹1.49 Cr
10 Oct 2025	ATUL PYARELAL AGRAWAL	Bulk	BSE	Buy	98,900	₹121.15	₹1.20 Cr

1–10 of 28

1 / 3

Mr. JAYESH RAMNIKLAL MEHTAExecutive Director-Chairperson related to Promoter-MD
Mrs. AMITA JAYESH MEHTANon-Executive - Non Independent Director
Shailesh Pandurang SankavChief Financial Officer
Ms. SHARMILA HIRALAL AMINNon-Executive - Non Independent Director
Ms. MANSI DAVENon-Executive - Independent Director
Mrs. KARISHMA RISHABH SINGHAVINon-Executive - Independent Director
Mr. ZAREER DINSHAW COLABAVALANon-Executive - Independent Director
Ms. Anuradha Mohan MatkarCompany 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 Candour Techtex Ltd. 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

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Events

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

1

Board meeting to consider results13 Aug 2026

1

Face value ₹10 → ₹16 Jun 2011 · ex-date

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

19 announcementsExport CSV

30 Sept 2026, 1:15 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Scrutinizer''s Report

AGM PDF

30 Sept 2026, 1:09 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Outcome of AGM

AGM PDF

29 Sept 2026, 7:53 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Outcome of AGM

AGM PDF

29 Sept 2026, 1:12 pmCompany Update

Reciept Of Fresh Order Projection/ Confirmation For Coated And Laminated Fabrics.

General PDF

16 Sept 2026, 6:41 pmCompany Update

Announcement under Regulation 30 (LODR)-Press Release / Media Release

Press Release / Media Release PDF

8 Sept 2026, 7:16 pmCompany Update

Intimation Regarding Letter Being Dispatched To The Shareholders Of The Company

General PDF

8 Sept 2026, 4:53 pmCompany Update

Announcement under Regulation 30 (LODR)-Newspaper Publication

Newspaper Publication PDF

7 Sept 2026, 6:00 pmOthers

Reg. 34 (1) Annual Report.

Reg. 34 (1) Annual Report PDF

Date	Category	Subject	Filing
30 Sept 2026, 1:15 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Scrutinizer''s Report	PDF
30 Sept 2026, 1:09 pm	AGM/EGM AGM	Shareholder Meeting / Postal Ballot-Outcome of AGM

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Ratio	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	—	—	9.3%	5.8%	14.4%	7%	8.6%	22%
EBITDA margin %	3.6%	10.8%	1.3%	1.7%	0.4%	1.1%	3.3%	1.7%
EBIT margin %	-2.2%	0%	-0.8%	0.8%	-2.4%	-0.8%	1.2%	-5.3%
PAT margin %	1.7%	0.7%	1.6%	1%	3.9%	-0.6%	0.3%	-2.5%
Working capital
Receivable days	—	—	169	4	13	5	12	20
Inventory days	—	—	6	3	13	8	13	54
Payable days	—	—	167	7	19	8	23	48
NWC days	—	—	8	-0	7	5	2	26
Leverage
Current ratio	—	—	1.25	2.85	1.17	0.93	1.45	4.39
Debt to EBITDA	—	—	3.41	1.15	82	16.42	3.93	19.25
Debt to equity	—	—	0.15	0.13	0.6	1.25	0.63	0.15
Interest coverage	2.5	1.4	1.2	6.2	5.5	0.4	1.5	0.5
Asset turnover	—	—	1.18	4.51	1.02	2.51	2.35	0.36
Return ratios
Return on assets %	—	—	1.9%	4.5%	3.9%	-1.4%	0.8%	-0.9%
Return on capital employed %	—	—	2.7%	10%	7.3%	2.2%	7.2%	1%
Return on equity %	—	—	5.3%	6.6%	8%	-3.8%	1.6%	-1.1%

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	0	7	5	-3	6	-19
	-0	-3	-23	-14	1	-21
	-1	6	14	11	1	80
Net cash flow	-1	10	-4	-6	7	40
Free cash flow	-2	4	-19	-18	5	-22
CFO / Operating profit %	7.7%	250.9%	—	-160.7%	97.5%	—

Candour Techtex Ltd

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

Events

Board meetings1

Stock splits1

Announcements

Board meetings1

Stock splits1

Ratio timeline

No fund holdings on record

Not in the F&O segment

Quarterly record

Bulk & block deals

Board and management

Announcements

Annual reports

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Return on equity

1

1

1

1