NSE: KUSUMGAR · BSE: 544821
KUSUMGAR LIMITED
Manufactures engineered technical textiles across four business segments — aerospace and defence fabrics, aerospace and defence solutions (parachute systems, camouflage, rapid deployment), industrial and automotive fabrics, and outdoor and lifestyle fabrics for activewear. The business is built on multi-year qualification cycles, exclusive global technology partnerships, and decade-long product co-development with customers. In Q1 FY27, consolidated revenue reached ₹247.2 cr, up 102% year-on-year, with EBITDA at ₹75.9 cr (31% margin) and PAT at ₹42.6 cr (17% margin); the sequential decline from Q4 FY26's ₹312.8 cr was attributed to a US tariff-resolution export pull-forward that inflated the prior quarter. Ready parachute contracts under a licensing arrangement with a global technology partner drove the margin expansion, while finished parachute systems are not own-IP but licensed. Management has formally adopted a no-forward-guidance policy, citing unpredictability around product approvals, government tenders, and geopolitics, with maintenance capex guided at 5-10% of gross block per year and no major expansion planned in the existing business. AR · MarketPing reader · 2026-09-16
Revenue streams, as the annual report describes them. Aerospace & Defence Fabrics, Aerospace & Defence Solutions, Industrial & Automotive Fabrics, Outdoor & Lifestyle Fabrics. Vertically integrated engineered textiles; long qualification cycles and exclusive global technology partnerships act as barriers to entry.
Exhibit 1: Financial summary, – (all audited; no estimate years)
| ₹ crore · consolidated |
|---|
| Revenue |
| EBITDA (ex other income) |
| margin % |
| Owners' profit |
| EPS, as reported (₹) |
| ROE % · ROCE % |
| Debt / equity (x) |
| Cash from operations |
| Capex |
Exhibit 2: Quarterly performance, last 1 quarters
| ₹ crore | Q1 FY27 |
|---|---|
| Revenue | 247 |
| Profit before tax | 58 |
| Net profit | 43 |
| EPS (₹) | 4.18 |
Exhibit 3: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 23 Oct 2026 · Credit rating clarification: CARE is sole agency, CRISIL not engaged | credit debt | medium | — | — |
| 13 Oct 2026 · Quarterly share demat certificate from registrar filed with BSE and NSE | compliance | minimal | — | — |
| 29 Sept 2026 · Trading Window Closed for Q2 FY26 Results | compliance | minimal | — | — |
| 18 Sept 2026 · Postal ballot: Kusumgar ESOP 2024 resolutions passed with about 90% approval | board shareholder meetings | low | — | — |
| 18 Sept 2026 · Kusumgar: Postal Ballot Results - Both ESOP Resolutions Passed | board shareholder meetings | low | — | — |
| 19 Aug 2026 · Postal Ballot Notice published; ESOP 2024 ratification sought | compliance | minimal | — | — |
| 18 Aug 2026 · Postal ballot for Kusumgar ESOP 2024 ratification and group employee options | capital market events | medium | — | — |
| 18 Aug 2026 · Kusumgar Q1 FY27 call: revenue up 102% YoY, EBITDA margin expands to 31% | investor communications | medium | — | — |
| 14 Aug 2026 · Audio recording of Q1 FY27 earnings call shared | investor communications | low | — | — |
| 12 Aug 2026 · Kusumgar Q1 FY27: Revenue up 102% YoY, EBITDA margin expands to 31.1% | investor communications | 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.