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Mafatlal Industries Limited (MAFATIND) · mywealthgrid

About

Mafatlal Industries operates in textiles and apparel (Consumer Discretionary) with ₹884.81 Cr market cap and stock ₹121.35. Promoter-led (69.3%) with minimal institutional participation (FII 0.34%, DII 0.11%), positioned as concentrated, retail-facing.

Face value: ₹2

Market cap

₹826 Cr

P/E

8.4×

P/B

2.1×

Dividend yield

2.2%

ROE

15.6%

ROCE

13.1%

Debt / equity

0.15

OPM

2.4%

EPS (TTM)

₹13.6

Book value

₹55.6

52-week high

₹197.0

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Profitability severely impaired: net losses in 4 of 8 recent quarters (Dec 2020: -₹28.31 Cr, Jun 2020: -₹37.59 Cr); verify whether operational stress resolved post-2021
Operating margin of 2.37% is razor-thin; industry benchmark needed to assess whether sustainable
Stock returned -10.32% over one year despite PE 9.03; verify structural vs. cyclical headwinds justifying low valuation
Concentrated shareholding (promoter 69.3%, institutional <1%) creates liquidity and analyst-coverage risk

Generated analysis · source review pending

Growth drivers

Revenue rebounded from ₹40.78 Cr (Jun 2020 lockdown low) to ₹206.91 Cr (Mar 2021); verify sustainability and margin normalization
ROE of 15.59% on D/E of 0.15 suggests capital efficiency; verify whether reflects core business strength or asset reduction
Dividend paid recently (2026-07-31); verify free cash flow sustainability at current profitability levels

Generated analysis · source review pending

₹114.4-17.7%1Y

Beta

1.07

Moves with the index

Volatility (1y)

42.4%

Annualised, daily returns

RSI (14)

30.3

Neither overbought nor oversold

Rel. strength (1y)

-27.6%

Behind the market

Beta is measured against NIFTY 50 over three years of weekly returns — 1 moves with the index, above 1 amplifies it, below 1 damps it.

Quick read

rule-based

Pros

+Profit CAGR of 33.9% over the last 3 years
+Revenue CAGR of 45.1% over the last 5 years
+Comfortable interest coverage of 12.1×
+High promoter holding of 69.3% with no pledge

Cons

−Thin operating margin of 2.4%

Research score

Structured signal from quality, growth, valuation and momentum.

62/100

Business quality: 48
Growth: 100
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
K.p.r. Mill LimitedKPRMILLKPRMILL	₹36,607 Cr	₹37,203 Cr	₹6,820 Cr	₹1,332 Cr	19.1%	₹912 Cr	13%	21.4%	16.2%	181
Welspun Living LimitedWELSPUNLIVWELSPUNLIV	₹22,941 Cr	₹24,744 Cr	₹9,934 Cr	₹884 Cr	8.4%	₹278 Cr	2.3%	6.6%	4.2%	108
Vardhman Textiles LimitedVTLVTL	₹15,322 Cr	₹17,177 Cr	₹10,186 Cr	₹1,387 Cr	12.6%	₹848 Cr	7.6%	8.6%	7.3%	259
Trident LimitedTRIDENTTRIDENT	₹11,293 Cr	₹13,061 Cr	₹6,781 Cr	₹877 Cr	13%	₹395 Cr	5.6%	10.6%	8%	103
Indo Count Industries LimitedICILICIL	₹8,789 Cr	₹9,862 Cr	₹4,390 Cr	₹424 Cr	9.5%	₹151 Cr	3.1%	10%	5.5%	215
Garware Technical Fibres LimitedGARFIBRESGARFIBRES	₹7,630 Cr	₹7,671 Cr	₹1,644 Cr	₹306 Cr	18.6%	₹190 Cr	13%	21.6%	15.3%	172
Kusumgar LimitedKUSUMGARKUSUMGAR	₹6,222 Cr	₹6,445 Cr	₹692 Cr	₹188 Cr	27.2%	₹98 Cr	14.2%	43.8%	35.2%	—
Filatex India LimitedFILATEXFILATEX	₹4,712 Cr	₹4,840 Cr	₹4,256 Cr	₹346 Cr	8.3%	₹191 Cr	4.4%	17.4%	12.9%	-4
Jindal Worldwide LimitedJINDWORLDJINDWORLD	₹4,594 Cr	₹5,152 Cr	₹2,300 Cr	₹124 Cr	5.9%	₹80 Cr	3.1%	13.5%	7.9%	112
Sanathan Textiles LimitedSANATHANSANATHAN	₹4,257 Cr	₹5,744 Cr	₹4,401 Cr	₹323 Cr	7.5%	₹61 Cr	2%	6.9%	4.2%	-25
Raymond Lifestyle LimitedRAYMONDLSLRAYMONDLSL	₹3,823 Cr	₹5,023 Cr	₹6,973 Cr	₹671 Cr	9.6%	₹43 Cr	0.7%	4%	0.5%	102
Alok Industries LimitedALOKINDSALOKINDS	₹3,505 Cr	₹29,610 Cr	₹3,775 Cr	₹66 Cr	0.8%	₹-711 Cr	-20%	-4%	—	93

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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 2016	Mar 2017	Mar 2018	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	1,323	1,270	1,168	603	1,003	1,372	2,079	2,807	3,871
COGS	276	345	785	528	794	1,073	1,732	2,419	3,456
Gross profit	1,047	925	382	75	209	299	347	389	415
	1,029	925	421	122	197	264	301	320	323
Operating profit (EBITDA)	18	1	-39	-47	12	34	46	68	92
OPM %	1.4%	0.1%	-3.3%	-7.8%	1.2%	2.5%	2.2%	2.4%	2.4%
Depreciation	21	27	36	17	16	21	15	15	17
Interest	—	—	—	22	19	18	15	11	9
	30	11	27	-5	54	45	64	32	28
Profit before tax	19	-7	-42	-91	32	40	79	74	95
Tax	2	-5	-0	3	3	3	-20	-24	6
Tax %	9.1%	-68.9%	-0.4%	2.9%	9%	7%	-24.9%	-31.8%	6%
	17	-2	-42	-94	29	37	99	98	89
PAT margin %	1.3%	-0.2%	-3.6%	-15.6%	2.9%	2.7%	4.8%	3.5%	2.3%
EPS (₹)	12.3	-1.5	-30	-67.5	4.1	5.3	13.9	13.7	12.5
EPS adjusted (₹)	—	-0.3	-6	-13.5	4.1	5.3	13.8	13.6	12.4
	24.4%	—	—	—	0%	0%	0%	14.7%	20%
Annual report	Annual report for Mar 2016	Annual report for Mar 2017	Annual report for Mar 2018	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	Annual report for Mar 2026

₹ Cr	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	14	14	14	14	14	14	14	14	14	14
Reserves	386	340	159	—	453	672	600	800	727	387
Minority interest	69	444	334	—	0	0	0	0	0	370
	214	210	180	—	126	98	94	82	68	61
	362	383	319	—	352	439	467	910	581	918
Total equity & liabilities	1,045	1,392	1,006	—	944	1,223	1,175	1,806	1,390	1,750
	233	295	136	136	112	95	92	84	83	82
CWIP	9	7	—	—	0	0	0	0	0	10
Investments	177	502	374	—	454	635	525	634	445	—
	626	588	496	—	378	493	557	1,089	862	1,659
Total assets	1,045	1,392	1,006	—	944	1,223	1,175	1,806	1,390	1,750

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Ratios

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

Consolidated Standalone

Consolidated figures

Ratio	Mar 2017	Mar 2018	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	72.9%	32.7%	12.5%	20.8%	21.8%	16.7%	13.8%	10.7%
EBITDA margin %	0.1%	-3.3%	-7.8%	1.2%	2.5%	2.2%	2.4%	2.4%
EBIT margin %	-2.1%	-6.4%	-10.6%	-0.4%	0.9%	1.5%	1.9%	1.9%
PAT margin %	-0.2%	-3.6%	-15.6%	2.9%	2.7%	4.8%	3.5%	2.3%
Working capital
Receivable days	92	89	131	93	76	112	62	67
Inventory days	153	76	17	33	36	17	15	11
Payable days	280	1	172	159	126	161	67	—
NWC days	-35	164	-24	-34	-14	-32	10	—
Leverage
Current ratio	1.21	1.09	0.87	0.99	1.03	1.11	1.27	1.25
Debt to EBITDA	301.92	—	—	8.34	2.73	1.79	1	0.66
Debt to equity	0.54	0.59	0.27	0.14	0.15	0.1	0.09	0.15
Interest coverage	—	—	-1.3	3.2	3.3	6.2	8.3	12.1
Asset turnover	1.22	0.84	0.64	0.82	1.17	1.15	2.02	2.21
Return ratios
Return on assets %	-0.2%	-3%	-10%	2.3%	3.2%	5.5%	7%	5.1%
Return on capital employed %	-2.8%	-6.6%	-3.9%	9.3%	8.2%	12.4%	11.1%	13.1%
Return on equity %	-0.5%	-11.8%	-20.1%	4.2%	6%	12.1%	13.2%	22.2%

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
	70.74%	70.16%	69.96%	69.62%	69.61%	69.56%	69.56%	69.53%	69.45%	69.32%	69.32%	69.3%
	0.9%	0.85%	0.85%	0.71%	0.59%	0.59%	0.59%	0.55%	0.55%	0.41%	0.41%	0.34%
	2.17%	1.7%	0.93%	0.93%	0.8%	0.78%	0.6%	0.33%	0.33%	0.33%	0.29%	0.11%
	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	26.19%	27.29%	28.26%	28.74%	29%	29.07%	29.25%	29.59%	29.67%	29.94%	29.98%	30.25%
No. of shareholders	—	—	—	—	—	—	—	—	55,126	62,418	61,449	60,676

Promoter holding down 1.44 percentage points since Sep 2023.

4 deals · 26 Dec 2022 – 26 Dec 2022

Date	Client	Type	Venue	Side	Quantity	Price	Value
26 Dec 2022	SUMIL HOLDINGS PVT LTD	Block	BSE	Buy	1,15,00,000	₹55.20	₹63.48 Cr
26 Dec 2022	HRISHIKESH ARVIND MAFATLAL	Block	BSE	Sell	1,15,00,000	₹55.20	₹63.48 Cr
26 Dec 2022	SUMIL HOLDINGS PVT LTD	Bulk	BSE	Buy	1,15,00,000	₹55.20	₹63.48 Cr
26 Dec 2022	HRISHIKESH ARVIND MAFATLAL	Bulk	BSE	Sell	1,15,00,000	₹55.20	₹63.48 Cr

1–4 of 4

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. Hrishikesh Arvind MafatlalExecutive Director-Chairperson related to Promoter
Mr. Priyavrata MafatlalExecutive Director-CEO-MD
Mr. Atul Kumar SrivastavaNon-Executive - Independent Director
Mr. Ashutosh BishnoiNon-Executive - Independent Director
Mr. Abhay Rohit JadejaNon-Executive - Independent Director
Mr. Jyotin Kantilal MehtaNon-Executive - Independent Director
Mr. Desh Deepak KhetrapalNon-Executive - Independent Director
Ms. Archana Niranjan HingoraniNon-Executive - Independent Director
Mrs. Smita JhanwarChief Financial Officer
Mr. Amish Kumar ShahCompany 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 Mafatlal Industries 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

Annual reports

Credit ratings

This is to share that the Acuite Rating & Research Limited has Assigned and Upgraded the ratings of the Company. A copy of the letter dated 18th September, 2025 from Acuite Rating & Research ....19 Sept 2025 from Acuite

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

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Events

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

10

Final dividend31 Jul 2026 · ex-date₹1.25
Interim dividend14 Nov 2025 · ex-date₹1.25
Final dividend25 Jul 2025 · ex-date₹1
Interim dividend9 Aug 2024 · ex-date₹1
Dividend dividend25 Jul 2017 · ex-date₹2
Dividend dividend3 Aug 2016 · ex-date₹3
Dividend dividend4 Aug 2015 · ex-date₹3
Dividend dividend24 Jul 2014 · ex-date₹3
Special dividend18 Jul 2013 · ex-date₹2
Dividend dividend18 Jul 2013 · ex-date₹3

1

Board meeting to consider results7 Aug 2026

1

Face value ₹10 → ₹225 Nov 2022 · ex-date

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

114 announcementsExport CSV

8 Jul 2026, 3:04 pmCompany Update

Announcement under Regulation 30 (LODR)-Newspaper Publication

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Date	Category	Subject	Filing
8 Jul 2026, 3:04 pm	Company Update Newspaper Publication	Announcement under Regulation 30 (LODR)-Newspaper Publication	PDF
7 Jul 2026, 6:36 pm	Others Reg. 34 (1) Annual Report	Reg. 34 (1) Annual Report.	PDF
7 Jul 2026, 6:26 pm	AGM/EGM AGM	Notice Of The 112Th Annual General Meeting For The Financial Year 2025-26.	PDF
26 Jun 2026, 2:57 pm	Insider Trading / SAST Closure of Trading Window	Closure of Trading Window	PDF
20 Jun 2026, 3:49 pm	Company Update General	Communication To Shareholders - Intimation Regarding Tax Deduction On Dividend.	PDF
18 Jun 2026, 12:22 pm	Company Update General	Intimation Is Being Sent To The Shareholders Holding Shares In Physical Mode For Updating Valid PAN, KYC, Nomination Details And IEPFA''s 100-Day "Saksham Niveshak" Campaign.	PDF
10 Jun 2026, 6:02 pm	Company Update General	Disclosure Under Regulation 30 Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015.	PDF
4 Jun 2026, 6:59 pm	Company Update Allotment of ESOP / ESPS	Announcement under Regulation 30 (LODR)-Allotment of ESOP / ESPS	PDF

₹ Cr	Mar 2016	Mar 2017	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	-35	19	7	10	-7	159	-89
	-21	-6	31	61	36	-2	-11
	52	-11	-29	-52	-34	-23	-30
Net cash flow	-5	2	9	18	-5	133	-131
Free cash flow	-83	-84	5	5	-22	153	-103
CFO / Operating profit %	-193.2%	—	—	81.3%	-20.8%	348.6%	-130.9%

Mafatlal Industries Limited

Mafatlal Industries Limited

About

Key insights

Key risks

Growth drivers

Risk & technicals

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

Credit ratings

Events

Dividends10

Board meetings1

Stock splits1

Announcements

Dividends10

Board meetings1

Stock splits1

Not in the F&O segment

Ratio timeline

No fund holdings on record

Quarterly record

Bulk & block deals

Board and management

Announcements

Annual reports

Credit ratings

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Stock price CAGR

Return on equity

10

1

1

10

1

1