NSE: FILATEX · BSE: 526227
FILATEX INDIA LTD
Manufactures polyester filament yarn (PFY), including FDY and DTY variants, selling to downstream textile converters. A wholly owned subsidiary called Ecosis is building India's first textile-to-textile recycling plant, commissioning September 2026, to convert used textiles back into recycled polyester for global apparel brands. FY26 revenue was ₹4,160.52 crore, down 2.15% year-on-year, though EBITDA rose 34.5% to ₹346.52 crore and PAT rose 36.7% to ₹183.90 crore on operational efficiency. A ₹690 crore integrated CAPEX programme covers a brownfield PFY expansion of 55,000 tonnes per annum, the 75 MT/day (26,750 TPA) recycling plant, automation, and a steam distribution initiative, targeted to commission in H2 FY27 and add ₹218-230 crore of annual EBITDA. Raw materials — mainly PTA and MEG, both crude-linked petrochemicals — make up 77.4% of revenue, making the business sensitive to crude swings such as the 40-45% input cost spike in Q4 FY26 caused by Middle East geopolitical disruption. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Polyester filament yarn (PFY, FDY, DTY), Textile-to-textile recycled polyester (Ecosis, upcoming). Cyclical, asset-heavy polyester yarn manufacturer exposed to crude price volatility and downstream textile demand.
Exhibit 1: Financial summary, FY19–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY19 | FY25 | FY26 |
|---|---|---|---|
| Revenue | 2,874 | 4,252 | 4,161 |
| EBITDA (ex other income) | 219 | 258 | 346 |
| margin % | 7.6 | 6.1 | 8.3 |
| Owners' profit | 0 | 0 | 0 |
| EPS, as reported (₹) | 3.90 | 3.02 | 4.13 |
| ROE % · ROCE % | 18.0 · 17.8 | 10.1 · 12.5 | 12.2 · 16.7 |
| Debt / equity (x) | 1.16 | 0.09 | 0.09 |
| Cash from operations | — | 312 | 246 |
| Capex | — | (53) | (193) |
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 | 1,049 | 1,069 | 1,080 | 1,049 | 1,076 | 1,050 | 985 | 1,145 |
| Profit before tax | 18 | 62 | 55 | 55 | 64 | 74 | 53 | 65 |
| Net profit | 13 | 47 | 41 | 41 | 48 | 55 | 40 | 49 |
| EPS (₹) | 0.30 | 1.06 | 0.93 | 0.92 | 1.07 | 1.24 | 0.90 | 1.09 |
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) | 22.0 | 16.8 | 103 of 179 | 43% |
| P/B | 2.8 | 1.1 | 154 of 185 | 17% |
| ROCE | 13.8 | 4.3 | 31 of 215 | 86% |
| ROE | 12.2 | 4.7 | 35 of 188 | 82% |
| Debt / Equity | 0.1 | 0.4 | 48 of 188 | 75% |
| EBITDA margin | 7.6 | 9.8 | 123 of 198 | 38% |
| Revenue growth | 9.1 | 6.9 | 83 of 192 | 57% |
| Profit growth | 19.3 | 20.0 | 104 of 203 | 49% |
| Market cap | 4207 | 61 | 7 of 223 | 97% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 3 Oct 2026 · Minor Fire at Filatex India Dahej Plant, No Production Loss | capex operations | medium | — | — |
| 30 Sept 2026 · Trading window closed from Oct 1 ahead of Q2 FY27 results | compliance | minimal | — | — |
| 24 Sept 2026 · Filatex India invests Rs 20 cr in subsidiary Ecosis via rights issue | business updates | medium | — | — |
| 23 Sept 2026 · Filatex India: All 5 AGM resolutions passed with over 99.9 percent support | board shareholder meetings | low | — | — |
| 23 Sept 2026 · Filatex India 36th AGM: All 5 resolutions passed; dividend declared | board shareholder meetings | medium | — | — |
| 22 Sept 2026 · Filatex India 36th AGM approves dividend of Rs.0.30 per share, MD reappointed | board shareholder meetings | medium | — | — |
| 4 Sept 2026 · Promoter group member buys 1.5 lakh shares of Filatex India | ownership changes | high | — | — |
| 1 Sept 2026 · Filatex India - Newspaper ad for 36th AGM notice dispatch | compliance | minimal | — | — |
| 31 Aug 2026 · Filatex India sends AGM weblinks to shareholders without registered emails | compliance | minimal | — | — |
| 31 Aug 2026 · Filatex India files BRSR FY26; turnover around 4,160 crore, more renewable power | compliance | 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.