NSE: GINNIFILA · BSE: 590025
GINNI FILAMENTS LTD
Manufactures textile filaments and yarns and converts them into non-woven consumer products, generating ₹368.70 crore of revenue from operations in FY26 split across two reportable segments. The Textiles segment contributed ₹238.37 crore (53.7% of segment revenue) with EBIT of ₹36.97 crore, covering the filament and yarn business. The Consumer Products segment contributed ₹205.62 crore (46.3% of segment revenue) with EBIT of ₹22.31 crore, covering wet wipes, kitchen rolls, cosmetics, and medical items such as gauzes and bandages. Manufacturing is based at Panoli and Haridwar. The loss-making Garment Division was closed and disposed of during FY26 and is now classified as discontinued operations. In May 2026 the board approved ₹132 crore of capacity expansion projects: a new 10,000 MT spun lace non-woven line at Panoli (nearly doubling the existing 11,000 MT capacity), a 3 MW captive solar plant at the same site, kitchen roll capacity at CPD Panoli more than doubling to 74 lakh units, new medical product lines, and quadrupling cosmetic capacity at Haridwar to 1,000 MT. The company is also setting up a wholly owned South African subsidiary, Ginni RSA (Pty) Ltd, to manufacture and distribute wet wipes and allied consumer products with initial capital of up to ₹10 crore. Materials are the dominant cost line at 44.8% of FY26 revenue, followed by other operating expenses at 28.7%. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Textiles (54%), Consumer Products (46%). Asset-based textile filament and non-woven consumer products manufacturer.
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 1,084 | 953 | 351 | 374 | 369 |
| EBITDA (ex other income) | 120 | 22 | (3) | 24 | 62 |
| margin % | 11.0 | 2.4 | (1.0) | 6.5 | 16.7 |
| Owners' profit | 48 | (14) | (84) | 4 | 37 |
| EPS, as reported (₹) | 5.82 | (1.67) | (9.87) | 0.49 | 4.32 |
| ROE % · ROCE % | 16.5 · 23.4 | (5.1) · (0.8) | (43.4) · (7.5) | 2.1 · 6.0 | 15.7 · 20.2 |
| Debt / equity (x) | 1.11 | 0.92 | 0.40 | 0.33 | 0.14 |
| Cash from operations | (1) | 119 | 43 | 10 | 61 |
| Capex | (79) | (25) | (30) | (4) | (9) |
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 | 93 | 99 | 103 | 102 | 95 | 82 | 90 | 103 |
| Profit before tax | (3) | 0 | 8 | 14 | 13 | 12 | 10 | 12 |
| Net profit | 0 | (1) | 5 | 11 | 10 | 9 | 7 | 9 |
| EPS (₹) | 0.01 | (0.08) | 0.56 | 1.24 | 1.20 | 1.05 | 0.84 | 1.06 |
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Textiles | 55 | 12.4 |
| Consumer Products | 106 | 23.9 |
| TEXTILE | 57 | 12.8 |
| CONSUMER PRODUCTS | 100 | 22.5 |
| TEXTLES | 57 | 12.9 |
| Textile | 69 | 15.6 |
| Total, before eliminations | 444 | 100.0 |
Exhibit 4: 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 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 9.4 | 16.8 | 51 of 179 | 72% |
| P/B | 1.4 | 1.1 | 107 of 185 | 41% |
| ROCE | 18.5 | 4.3 | 21 of 215 | 91% |
| ROE | 15.7 | 4.7 | 21 of 188 | 89% |
| Debt / Equity | 0.1 | 0.4 | 61 of 188 | 68% |
| EBITDA margin | 14.9 | 9.8 | 59 of 198 | 71% |
| Revenue growth | 1.3 | 6.9 | 112 of 192 | 42% |
| Profit growth | (14.7) | 20.0 | 135 of 203 | 34% |
| Market cap | 334 | 61 | 48 of 223 | 79% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 14 Oct 2026 · Board meet on Nov 2 to consider Q2 FY26 unaudited results | results | low | — | — |
| 8 Oct 2026 · Routine dematerialisation compliance certificate filed for Q2 FY26-27 | compliance | minimal | — | — |
| 5 Oct 2026 · Monthly report on re-lodgement of physical share transfers | compliance | minimal | — | — |
| 28 Sept 2026 · Ginni Filaments 43rd AGM voting results: all 4 resolutions passed | board shareholder meetings | low | — | — |
| 28 Sept 2026 · Ginni Filaments 43rd AGM proceedings held on September 28, 2026 | board shareholder meetings | low | — | — |
| 23 Sept 2026 · Trading window closes from Oct 1 ahead of Q2 results | compliance | minimal | — | — |
| 3 Sept 2026 · Monthly Report on Relodgement of Physical Shares for August 2026 | compliance | minimal | — | — |
| 1 Sept 2026 · Ginni Filaments 43rd AGM notice published in newspapers | compliance | minimal | — | — |
| 1 Sept 2026 · Web link of FY26 Annual Report sent to shareholders; 43rd AGM on Sept 28 | general | minimal | — | — |
| 31 Aug 2026 · Notice of 43rd AGM on September 28, 2026 via video conferencing | 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.