BSE: 544707
Fractal Industries Limited
Sources, manufactures and supplies garments, and runs e-commerce supply chain operations, from a base in Mumbai. In FY26, consolidated revenue stood at Rs. 8,978.67 lakhs, with materials forming 59.7% of revenue, other operating expenses 27.0%, and employee cost 3.3% — an asset-light profile reflected in capex of just 0.4% of revenue. The company listed on the BSE SME platform in February 2025 after raising Rs. 4,900.18 lakhs through an IPO, and acquired Nested Brands Private Limited in April 2025, which is consolidated in FY26 figures. Related-party transactions with Nested Brands covering sale, purchase and labour charges are capped at Rs. 10 crore for FY27. EBITDA margin widened from 13% in FY25 to 20% in FY26, with standalone profit after tax at Rs. 1,333.47 lakhs versus Rs. 751.98 lakhs the prior year. A wholly-owned subsidiary, Bishwanath Kashinath Foundation, was incorporated in March 2026 to handle CSR and charitable work. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Garment sourcing and manufacturing, E-commerce supply chain. Asset-light garment sourcing, manufacturing and e-commerce supply chain
Exhibit 1: Financial summary, FY26–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY26 |
|---|---|
| Revenue | 90 |
| EBITDA (ex other income) | — |
| margin % | — |
| Owners' profit | — |
| EPS, as reported (₹) | 22.48 |
| ROE % · ROCE % | — · 22.4 |
| Debt / equity (x) | — |
| Cash from operations | 4 |
| Capex | (0) |
Exhibit 2: Quarterly performance, last 2 quarters
| ₹ crore | Q2 FY26 | Q4 FY26 |
|---|---|---|
| Revenue | 47 | 42 |
| Profit before tax | 8 | 8 |
| Net profit | — | — |
| EPS (₹) | 12.15 | 10.33 |
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 | 38,604 | 51.1 | 25.69 | — | 50.8 | 58.6 | — | 21.1 |
| ARVIND LIMITED | 13,061 | 31.5 | 3.15 | 13.8 | 10.3 | 11.9 | 12.9 | 9.4 |
| PEARL GLOBAL IND LIMITED | 5,526 | 17.8 | 3.84 | 11.0 | 18.8 | 16.8 | 27.5 | 11.2 |
| GOKALDAS EXPORTS LTD. | 4,638 | 45.0 | 2.15 | 12.6 | 4.6 | 6.0 | 26.9 | 12.1 |
| LUX INDUSTRIES LIMITED | 3,465 | 32.5 | 1.90 | 19.3 | 5.8 | 7.3 | 8.4 | 8.2 |
| SBC EXPORTS LIMITED | 3,161 | 78.1 | 39.42 | 71.5 | 31.5 | 28.3 | — | 13.9 |
| KEWAL KIRAN CLOTHING LTD | 2,573 | 17.4 | 2.30 | 9.3 | 13.6 | 16.6 | 32.0 | 24.0 |
| KITEX GARMENTS LTD | 2,261 | — | 1.83 | 34.1 | (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) | 9.1 | 16.7 | 11 of 37 | 72% |
| ROCE | 20.5 | 8.4 | 4 of 44 | 93% |
| Market cap | 161 | 150 | 21 of 44 | 54% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 15 Oct 2026 · Compliance Certificate on Dematerialization for Sep 2026 Quarter | compliance | minimal | — | — |
| 1 Oct 2026 · Outcome of Arihant Bharat Connect Investor Conference | investor communications | low | — | — |
| 28 Sept 2026 · Trading window closed from Oct 1 ahead of H1 results | compliance | minimal | — | — |
| 28 Sept 2026 · Fractal Industries AGM: All 4 resolutions passed with 100% approval | compliance | low | — | — |
| 28 Sept 2026 · Fractal Industries 6th AGM: All 4 resolutions passed with 100% approval | board shareholder meetings | low | — | — |
| 25 Sept 2026 · Fractal Industries 6th AGM held on Sept 25 2026, 4 resolutions discussed | board shareholder meetings | medium | — | — |
| 3 Sept 2026 · Fractal Industries files FY26 Annual Report, AGM on Sept 25, 2026 | compliance | low | — | — |
| 25 Aug 2026 · Record Date Intimation for Annual General Meeting | board shareholder meetings | low | — | — |
| 25 Aug 2026 · Book Closure for 6th AGM, September 18 to 25, 2026 | compliance | minimal | — | — |
| 25 Aug 2026 · Board approves 6th AGM notice and Board Report for FY25-26 | 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.