BSE: 544594
GAME CHANGERS TEXFAB LIMITED
Trades and distributes fabrics and apparel across B2B, B2C and online channels, with a made-to-measure brand called 'Fall In Love'. The B2B fabric business contributes about 86% of sales, serving roughly 1,282 B2B customers sourced from 523 suppliers, while B2C experience centres account for 14% of revenue with about 53,000 B2C customers. About 2,000 new SKUs have been introduced. The company opened its first flagship experience centre in Lajpat Nagar, Delhi, and plans 10 large experience centres of 8,000-10,000 sq ft each over the next 2.5 years, with new locations in Chandigarh, Old Gurgaon, Dubai and Bangladesh. Two subsidiaries were incorporated in February 2026 — Game Changers Retails Private Limited (premium and designer clothing retail) and Game Changers Attriex Private Limited (school and corporate uniforms) — with the parent holding 80% in each. FY26 revenue was ₹138.75 crore and net profit was ₹18.23 crore, with an EBITDA margin of 19.89% and a debt-to-equity ratio of 0.10x. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. B2B fabric trading (86%), B2C experience centres (14%), Made-to-measure brand 'Fall In Love', Online sales. Trading-led textile distribution business shifting toward higher-margin B2C retail and technical textiles.
Exhibit 1: Financial summary, FY26–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY26 |
|---|---|
| Revenue | 139 |
| EBITDA (ex other income) | 27 |
| margin % | 19.5 |
| Owners' profit | 18 |
| EPS, as reported (₹) | 12.42 |
| ROE % · ROCE % | 20.8 · 28.6 |
| Debt / equity (x) | 0.10 |
| Cash from operations | (40) |
| Capex | (3) |
Exhibit 2: Quarterly performance, last 1 quarters
| ₹ crore | Q4 FY26 |
|---|---|
| Revenue | 82 |
| Profit before tax | 14 |
| Net profit | 10 |
| EPS (₹) | 5.88 |
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. | 35,410 | 38.8 | 6.21 | 25.6 | 15.2 | 19.3 | 13.5 | 21.2 |
| WELSPUN LIVING LIMITED | 20,311 | 73.9 | 4.08 | 26.1 | 4.3 | 4.0 | 5.1 | 12.7 |
| VARDHMAN TEXTILES LIMITED | 14,333 | 16.6 | 1.35 | 11.0 | 7.1 | 7.4 | 10.0 | 20.4 |
| TRIDENT LIMITED | 11,018 | 27.7 | 2.31 | 13.5 | 7.9 | 8.6 | 8.1 | 17.7 |
| INDO COUNT INDUSTRIES LTD | 8,338 | 55.3 | 3.54 | 20.1 | 5.4 | 5.4 | 10.5 | 13.3 |
| GARWARE TECH FIBRES LTD | 7,621 | 36.8 | 5.63 | 23.8 | 14.7 | 18.7 | 8.1 | 20.5 |
| FILATEX INDIA LTD | 4,197 | 22.0 | 2.79 | 11.5 | 12.2 | 13.8 | — | 7.6 |
| SANATHAN TEXTILES LIMITED | 4,161 | 68.6 | 2.22 | 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) | 13.7 | 16.5 | 77 of 179 | 57% |
| P/B | 1.6 | 1.1 | 121 of 185 | 34% |
| ROCE | 26.8 | 4.3 | 8 of 215 | 97% |
| ROE | 20.8 | 4.7 | 14 of 188 | 93% |
| Debt / Equity | 0.1 | 0.4 | 53 of 188 | 72% |
| EBITDA margin | 18.7 | 9.8 | 36 of 198 | 82% |
| Market cap | 144 | 59 | 74 of 223 | 67% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 12 Oct 2026 · RTA Compliance Certificate under SEBI Regulation 74(5) for Q2 FY27 | compliance | minimal | — | — |
| 29 Sept 2026 · 11th AGM voting results: All 4 resolutions passed unanimously | board shareholder meetings | low | — | — |
| 29 Sept 2026 · AGM proceedings: all 4 resolutions passed unanimously | board shareholder meetings | low | — | — |
| 28 Sept 2026 · Trading window closed from Oct 1, 2026 until half-yearly results announcement | compliance | minimal | — | — |
| 4 Sept 2026 · Annual Report and AGM Notice web link sent to shareholders | compliance | minimal | — | — |
| 4 Sept 2026 · Notice of 11th AGM and FY 2025-26 Annual Report | board shareholder meetings | low | — | — |
| 4 Sept 2026 · Annual Report and AGM Notice submitted for FY 2025-26 | results | high | — | — |
| 4 Sept 2026 · Board approves director re-appointment and AGM notice for Sept 29 | management changes | low | — | — |
| 4 Sept 2026 · Board meeting outcome - AGM notice, director re-appointment and reports approved | management changes | medium | — | — |
| 26 Aug 2026 · Inaugurates 10,000 sq ft Flagship Experience Centre in New Delhi | business updates | medium | — | — |
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.