BSE: 541006
Angel Fibers Limited
Manufactures and sells products in the textiles and fiber space, operating from its registered office in Haripar, Jamnagar, Gujarat, and generating Rs 211.532 crore of revenue in FY26. The business sits in the Other Textile Products classification within the consumer discretionary textile chain, though the filings do not specify end-product categories. Material inputs dominate the cost structure at 81.1% of revenue, with employee costs at 4.2% and other operating expenses at 10.5%, while capex runs at just 0.3% of revenue. A large share of activity flows through related-party arrangements with Redeco Fibers, Haripriya Spinning Mill, and Murlidhar Worldtrade, each capped at Rs 100 crore for FY27, with the Redeco Fibers deal alone equal to 47% of FY26 consolidated turnover. Profitability improved materially in FY26, with profit after tax at Rs 183.81 lakhs (against Rs 128.08 lakhs in FY25) and profit before tax nearly doubling to Rs 374.60 lakhs, helped by long-term borrowings being cut from Rs 2,634 lakhs to Rs 1,916 lakhs and finance costs falling by roughly 27%. The promoter group holds about 73.9% of the 2.5 crore total equity shares, with the balance held by public non-institutions. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Textile fiber products. Small-cap textile/fiber manufacturer, material-cost heavy, with a concentrated related-party operating model.
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 248 | 121 | 189 | 201 | 212 |
| EBITDA (ex other income) | — | — | — | — | — |
| margin % | — | — | — | — | — |
| Owners' profit | — | — | — | — | — |
| EPS, as reported (₹) | 3.75 | (2.01) | 0.02 | 0.74 | 0.51 |
| ROE % · ROCE % | — · 19.1 | — · (2.0) | — · 7.0 | — · 11.4 | — · 14.2 |
| Debt / equity (x) | — | — | — | — | — |
| Cash from operations | 14 | 18 | 12 | 10 | 11 |
| Capex | — | — | — | (0) | (1) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY23 | Q4 FY23 | Q2 FY24 | Q4 FY24 | Q2 FY25 | Q4 FY25 | Q2 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 57 | 64 | 95 | 95 | 101 | 100 | 110 | 101 |
| Profit before tax | (8) | 3 | 0 | (1) | (0) | 2 | 2 | 1 |
| Net profit | — | — | — | — | — | — | — | — |
| EPS (₹) | (3.01) | 1.00 | 0.22 | (0.20) | 0.02 | 0.72 | 0.69 | 0.18 |
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. % |
|---|---|---|---|---|---|---|---|---|
| KPR MILL LTD. | 37,325 | 40.9 | 6.55 | 27.0 | 15.2 | 19.3 | 13.5 | 21.2 |
| WELSPUN LIVING LIMITED | 20,367 | 74.1 | 4.09 | 26.1 | 4.3 | 4.0 | 5.1 | 12.7 |
| VARDHMAN TEXTILES LIMITED | 14,669 | 17.0 | 1.39 | 11.3 | 7.1 | 7.4 | 10.0 | 20.4 |
| TRIDENT LIMITED | 10,870 | 27.4 | 2.28 | 13.4 | 7.9 | 8.6 | 8.1 | 17.7 |
| INDO COUNT INDUSTRIES LTD | 8,471 | 56.1 | 3.60 | 20.4 | 5.4 | 5.4 | 10.5 | 13.3 |
| GARWARE TECH FIBRES LTD | 7,310 | 35.3 | 5.40 | 22.9 | 14.7 | 18.7 | 8.1 | 20.5 |
| FILATEX INDIA LTD | 4,207 | 22.0 | 2.80 | 11.5 | 12.2 | 13.8 | — | 7.6 |
| SANATHAN TEXTILES LIMITED | 4,178 | 68.8 | 2.23 | 18.6 | 4.1 | 3.5 | — | 8.4 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 6.2 | 16.8 | 24 of 179 | 87% |
| ROCE | 7.7 | 4.3 | 75 of 215 | 65% |
| Revenue growth | 6.9 | 6.9 | 97 of 192 | 50% |
| Market cap | 25 | 61 | 158 of 223 | 29% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 27 Oct 2026 · Board appoints secretarial and internal auditors for FY 2026-27 | management changes | low | — | — |
| 27 Oct 2026 · Angel Fibers appoints secretarial and internal auditors for FY2026-27 | management changes | low | — | — |
| 15 Oct 2026 · RTA certificate under SEBI 74(5) for Sep 2026 quarter filed with BSE | compliance | minimal | — | — |
| 28 Sept 2026 · Trading window closed for Angel Fibers insiders ahead of results | compliance | minimal | — | — |
| 17 Sept 2026 · Independent Director Chandrakant Gopani ceases on tenure completion | management changes | medium | — | — |
| 17 Sept 2026 · Independent Director Mr. Chandrakant Gopani ceases on tenure completion | management changes | medium | — | — |
| 17 Sept 2026 · Independent Director ceases on tenure completion | management changes | medium | — | — |
| 25 Aug 2026 · AGM 2026 results: all 7 resolutions passed, director reappointed | management changes | medium | — | — |
| 25 Aug 2026 · 13th AGM held; FY26 profit declined, management stays optimistic on growth | board shareholder meetings | low | — | — |
| 25 Aug 2026 · Angel Fibers 13th AGM: All 7 resolutions passed unanimously | 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.