BSE: 514318
JATTASHANKAR INDUSTIES LTD.
Operates in agricultural commodity trading per its FY26 audited results disclosure, although its BSE classification places it under Other Textile Products. In FY26, revenue was ₹129.4137 crore, up 1483.8753% year-on-year, while net profit was ₹1.025 crore against a loss in FY25. The reported cost structure is unusually light: materials at 0% of revenue, employee cost at 0.4%, other opex at 0.2%, with no depreciation or capex recorded. Operating cash flow for FY26 was deeply negative at ₹(2,015.29) lakhs, driven by a sharp rise in trade receivables of ₹1,138.06 lakhs. The company is actively raising capital through convertible warrants at ₹92 each on a preferential basis to promoter and non-promoter allottees, with planned proceeds of up to ₹75.03 crore earmarked for working capital (₹60 crore) and general corporate purposes (₹15.02 crore). AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Agricultural commodity trading. Small, low-margin trading business undergoing significant capital raising
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 19 | 16 | 16 | 8 | 129 |
| EBITDA (ex other income) | 1 | 0 | 4 | (3) | 1 |
| margin % | 4.5 | 2.9 | 24.0 | (30.9) | 0.4 |
| Owners' profit | 1 | 1 | 4 | (1) | 1 |
| EPS, as reported (₹) | 2.07 | 1.20 | 8.71 | (2.71) | 2.34 |
| ROE % · ROCE % | 5.9 · 7.4 | 3.3 · 4.6 | 19.5 · 22.3 | (6.4) · (5.9) | 5.3 · 6.3 |
| Debt / equity (x) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash from operations | 1 | 0 | (0) | 2 | (20) |
| Capex | (0) | 0 | 0 | 0 | 0 |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 4 | 4 | 0 | 0 | 0 | 0 | 56 | 73 |
| Profit before tax | (1) | 0 | (0) | (0) | 0 | 0 | 0 | 0 |
| Net profit | (1) | 0 | (0) | (0) | 0 | 0 | 0 | 1 |
| EPS (₹) | (1.33) | 0.27 | (0.93) | (0.71) | 0.25 | 0.08 | 0.71 | 1.30 |
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) | 30.3 | 16.8 | 125 of 179 | 30% |
| P/B | 1.6 | 1.1 | 118 of 185 | 36% |
| ROCE | 6.3 | 4.3 | 88 of 215 | 59% |
| ROE | 5.3 | 4.7 | 86 of 188 | 55% |
| Debt / Equity | 0.0 | 0.4 | 26 of 188 | 87% |
| EBITDA margin | 0.7 | 9.8 | 168 of 198 | 15% |
| Profit growth | 282.0 | 20.0 | 24 of 203 | 89% |
| Market cap | 31 | 61 | 146 of 223 | 35% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 9 Oct 2026 · Routine compliance certificate from RTA for quarter ended September 2026 | compliance | minimal | — | — |
| 6 Oct 2026 · Stock Split Record Date Fixed: 1 share of Rs.10 to become 10 shares of Re.1 | corporate actions | high | — | — |
| 30 Sept 2026 · Trading window closed from Oct 1, 2026 until Q2 FY27 results announcement | compliance | minimal | — | — |
| 29 Sept 2026 · AGM voting results: all 7 resolutions passed, share sub-division approved | board shareholder meetings | low | — | — |
| 28 Sept 2026 · AGM approves equity share sub-division and shift of registered office to Gujarat | board shareholder meetings | low | — | — |
| 6 Sept 2026 · Newspaper ad for 38th AGM and e-voting details | compliance | minimal | — | — |
| 5 Sept 2026 · 38th AGM notice with FY26 annual report; stock split and office shift proposed | board shareholder meetings | medium | — | — |
| 5 Sept 2026 · 38th AGM on Sep 28, 2026; stock split 1:10 and office shift to Gujarat proposed | board shareholder meetings | low | — | — |
| 4 Sept 2026 · Newspaper publication of 38th AGM notice | compliance | minimal | — | — |
| 2 Sept 2026 · Board approves 1:10 stock split, office shift to Gujarat | 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.