NSE: LAGNAM
LAGNAM SPINTEX LIMITED
Manufactures cotton yarn from its base in Bhilwara, Rajasthan, generating FY26 revenue of ₹604.98 crore, essentially flat year-on-year against ₹605.56 crore in FY25. Net profit for the year rose 11.9% to ₹14.39 crore, helped by lower raw material costs even as top-line was unchanged, with EPS improving to ₹8.14. Raw materials are the dominant cost, accounting for 70.6% of revenue, followed by other operating expenses at 13.0%, employee costs at 4.1% and depreciation at 2.7%. The company serves textile customers in India and overseas markets, as referenced in the chairman's discussion at the 15th AGM, and is exposed to cotton price volatility. Total borrowings stood at ₹35.79 crore at FY26-end, down from ₹38.85 crore a year earlier, with India Ratings & Research upgrading the long-term rating to IND BBB- with a Stable Outlook in May 2025. Capex was 2.0% of revenue, indicating a steady rather than expansionary investment cycle. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Cotton yarn manufacturing. Cyclical, raw-material intensive cotton yarn spinning.
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 348 | 305 | 438 | 606 | 605 |
| EBITDA (ex other income) | 58 | 31 | 45 | 65 | 67 |
| margin % | 16.8 | 10.1 | 10.3 | 10.8 | 11.0 |
| Owners' profit | 0 | 10 | 15 | 13 | 14 |
| EPS, as reported (₹) | 16.30 | 5.53 | 8.25 | 7.28 | 8.14 |
| ROE % · ROCE % | — · — | 10.4 · 11.2 | 13.4 · 9.8 | 10.6 · 13.8 | 10.6 · 14.7 |
| Debt / equity (x) | — | 1.95 | 3.47 | 3.21 | 2.64 |
| Cash from operations | 23 | 13 | 22 | 24 | 73 |
| Capex | (3) | (25) | (201) | (3) | (12) |
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 | 134 | 148 | 163 | 140 | 132 | 153 | 180 | 166 |
| Profit before tax | 0 | 3 | 12 | 3 | 0 | 5 | 12 | 9 |
| Net profit | 0 | 2 | 9 | 2 | 0 | 4 | 8 | 6 |
| EPS (₹) | 0.22 | 1.33 | 4.84 | 1.11 | 0.21 | 2.09 | 4.73 | 3.33 |
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. % |
|---|---|---|---|---|---|---|---|---|
| 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) | 8.3 | 16.8 | 38 of 179 | 79% |
| P/B | 1.1 | 1.1 | 92 of 185 | 51% |
| ROCE | 5.8 | 4.3 | 93 of 215 | 57% |
| ROE | 10.6 | 4.7 | 47 of 188 | 75% |
| Debt / Equity | 2.6 | 0.4 | 179 of 188 | 5% |
| EBITDA margin | 12.5 | 9.8 | 75 of 198 | 62% |
| Revenue growth | 18.4 | 6.9 | 59 of 192 | 70% |
| Profit growth | 198.8 | 20.0 | 30 of 203 | 86% |
| Market cap | 152 | 61 | 73 of 223 | 68% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 19 Oct 2026 · Newspaper publication of Q2 FY27 financial results | compliance | minimal | — | — |
| 17 Oct 2026 · Lagnam Spintex Q2 FY27 results: revenue up 30%, PAT jumps to Rs 8.18 cr | results | high | — | — |
| 17 Oct 2026 · Lagnam Spintex Q2 FY27 strong: EBITDA up 98%, PAT up 20 times | compliance | minimal | — | — |
| 17 Oct 2026 · Financial results for quarter ended September 2026 submitted | results | high | — | — |
| 30 Sept 2026 · Trading Window Closure for Q2 FY26 Results | compliance | minimal | — | — |
| 27 Aug 2026 · AGM voting results: All 3 resolutions passed with 100% approval | board shareholder meetings | low | — | — |
| 27 Aug 2026 · 16th AGM held on Aug 27, 2026; key resolutions passed | board shareholder meetings | low | — | — |
| 5 Aug 2026 · AGM notice and Annual Report link sent to shareholders | compliance | minimal | — | — |
| 5 Aug 2026 · Newspaper publication of 16th AGM notice submitted to NSE | compliance | minimal | — | — |
| 4 Aug 2026 · 16th AGM notice and Annual Report 2025-26 - Lagnam Spintex | 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.