BSE: 541144
Active Clothing Co Limited
Manufactures garments for global apparel brands such as Levi's, Adidas, Puma, Skechers and Tchibo from a facility with annual capacity of 46.5 lakh garments, with a 22-year Levi's partnership contributing roughly Rs 100 cr per year. Runs an integrated design-to-shelf model with a virtual design centre, 3D simulations, AI tools, and sustainability credentials including GOTS, WRAP, SEDEX, SA8000, GRS and a 500 kW rooftop solar plant covering 50% of energy demand. A new smart-knitting partnership with Ningbo Cixing will add 600 machines over 3 years to the existing 352, creating India's first knit-to-shape facility. Operates a domestic retail presence through a dealer network being expanded from 200 to 300 for Pan-India reach, and has launched 'NUEMO', a multi-brand retail chain in Tier 2 and Tier 3 towns offering men's, women's and kids' apparel. Materials (25.3% of revenue) and employees (17.4% of revenue) are the largest cost items, with a working capital cycle of 210–240 days. FY26 revenue was Rs 316.44 cr with an EBITDA margin of 9.29%, and the company is rated Crisil BBB stable / A3+ on Rs 102 cr of bank facilities. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Manufacturing for global apparel brands, Domestic branded retail and distribution, Multi-brand retail (NUEMO). Asset-heavy garment manufacturer with long-tenure B2B brand contracts, a growing domestic retail footprint, and a long working capital cycle of 210–240 days.
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 115 | 200 | 212 | 296 | 316 |
| EBITDA (ex other income) | — | 13 | 21 | 28 | 28 |
| margin % | — | 6.7 | 9.8 | 9.3 | 8.7 |
| Owners' profit | — | 2 | 5 | 8 | 10 |
| EPS, as reported (₹) | 0.34 | 1.46 | 3.13 | 5.45 | 6.48 |
| ROE % · ROCE % | — · 7.5 | 3.5 · 11.0 | 7.0 · 13.7 | 10.9 · 18.7 | 10.8 · 16.2 |
| Debt / equity (x) | — | 1.23 | 1.24 | 1.53 | 1.36 |
| Cash from operations | 13 | 14 | 21 | (10) | 14 |
| Capex | — | (17) | (19) | (11) | (17) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 81 | 100 | 68 | 64 | 83 | 96 | 73 | 68 |
| Profit before tax | 3 | 4 | 1 | 3 | 3 | 4 | 2 | 3 |
| Net profit | 2 | 3 | 2 | 2 | 3 | 3 | 2 | 2 |
| EPS (₹) | 1.59 | 4.04 | 1.06 | 1.37 | 1.76 | 2.25 | 1.05 | 1.44 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| PAGE INDUSTRIES LTD | 37,812 | 50.0 | 25.16 | — | 50.8 | 58.6 | — | 21.1 |
| ARVIND LIMITED | 13,369 | 32.3 | 3.23 | 14.1 | 10.3 | 11.9 | 12.9 | 9.4 |
| PEARL GLOBAL IND LIMITED | 5,588 | 18.0 | 3.89 | 11.2 | 18.8 | 16.8 | 27.5 | 11.2 |
| GOKALDAS EXPORTS LTD. | 4,744 | 46.0 | 2.20 | 12.9 | 4.6 | 6.0 | 26.9 | 12.1 |
| LUX INDUSTRIES LIMITED | 3,496 | 32.8 | 1.92 | 19.4 | 5.8 | 7.3 | 8.4 | 8.2 |
| SBC EXPORTS LIMITED | 3,114 | 76.9 | 38.83 | 70.5 | 31.5 | 28.3 | — | 13.9 |
| KEWAL KIRAN CLOTHING LTD | 2,631 | 17.8 | 2.35 | 9.6 | 13.6 | 16.6 | 32.0 | 24.0 |
| KITEX GARMENTS LTD | 2,250 | — | 1.82 | 34.0 | (1.1) | 0.3 | 7.9 | 11.3 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 13.6 | 16.2 | 18 of 37 | 53% |
| P/B | 1.5 | 1.5 | 18 of 35 | 50% |
| ROCE | 8.8 | 8.4 | 22 of 44 | 51% |
| ROE | 10.8 | 5.8 | 12 of 35 | 68% |
| Debt / Equity | 1.4 | 0.3 | 33 of 35 | 6% |
| EBITDA margin | 10.8 | 10.4 | 17 of 35 | 53% |
| Revenue growth | 4.8 | 7.9 | 21 of 37 | 44% |
| Profit growth | 5.0 | 6.8 | 21 of 37 | 44% |
| Market cap | 137 | 146 | 24 of 44 | 47% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 8 Oct 2026 · Regulation 32 not applicable for Sep 2026 quarter | compliance | minimal | — | — |
| 8 Oct 2026 · Reg 74(5) compliance certificate filed for quarter ended September 2026 | compliance | minimal | — | — |
| 26 Sept 2026 · 24th AGM: All resolutions passed with near-unanimous shareholder approval | board shareholder meetings | low | — | — |
| 25 Sept 2026 · 24th AGM Proceedings - Financials Adopted, Director Re-appointed | board shareholder meetings | medium | — | — |
| 23 Sept 2026 · Trading window closed for Q2 FY26 results period | compliance | minimal | — | — |
| 1 Sept 2026 · Active Clothing commissions 1 MW solar power system at facility | capex operations | medium | — | — |
| 1 Sept 2026 · Notice of 24th Annual General Meeting on September 25, 2026 | compliance | minimal | — | — |
| 31 Aug 2026 · Active Clothing Co submits 24th Annual Report for FY 2025-26 | compliance | medium | — | — |
| 31 Aug 2026 · Active Clothing expands sweater and T-shirt manufacturing capacity | capex operations | high | — | — |
| 31 Aug 2026 · 24th AGM on Sept 25, 2026; book closure Sept 19 to Sept 25, 2026 | board shareholder meetings | low | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.