BSE: 535387
LAKHOTIA POLYESTERS (INDIA) LT
Manufactures and trades metallic yarn and textile fabrics as its single operating segment. For FY26, audited revenue from operations stood at Rs 6,046.62 lakhs with total income of Rs 7,216.58 lakhs and profit after tax of Rs 602.06 lakhs, giving an EBITDA margin of 23.047% for the year. Raw materials are by far the dominant cost at 85.3% of revenue, with employee costs at 3.9%, other operating expenses at 12.0% and depreciation at 0.4% of revenue. Quarterly performance has been volatile: 9M FY26 revenue from operations collapsed to Rs 1,574 lakhs from Rs 4,911 lakhs a year earlier, a roughly 68% drop, even as nine-month profit after tax edged up to Rs 224.58 lakhs from Rs 204.74 lakhs. Q1 FY27 (quarter ended June 30, 2026) then saw revenue from operations jump about 213% to Rs 321.71 lakhs year-on-year, but profit after tax fell 54% to Rs 45.42 lakhs as cost of materials surged to Rs 323.93 lakhs. The company is pursuing a proposed 100% acquisition of New Nexus FZ LLC, a Dubai-based entity, originally announced on December 12, 2025 with completion now pushed to June 30, 2026 due to the prevailing geopolitical situation. Total borrowings stood at Rs 1,632.86 lakhs at FY26-end and the company recorded negative operating cash flow of Rs 826.48 lakhs for the full year. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Metallic Yarn and Textile Fabrics. Single-segment small-cap textile (metallic yarn and fabrics) manufacturer with highly volatile quarterly revenues and rising borrowings.
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 20 | 14 | 28 | 60 | 16 |
| EBITDA (ex other income) | (1) | (2) | 0 | (3) | (0) |
| margin % | (2.6) | (16.1) | 0.6 | (4.8) | (1.7) |
| Owners' profit | (0) | (2) | 0 | 6 | 2 |
| EPS, as reported (₹) | (0.03) | 1.11 | 0.00 | 6.18 | 2.27 |
| ROE % · ROCE % | (6.2) · 0.6 | (22.0) · (14.7) | 0.8 · 9.8 | 39.3 · 56.5 | 13.4 · 20.1 |
| Debt / equity (x) | 0.98 | 0.90 | 0.68 | 0.98 | 0.92 |
| Cash from operations | (2) | (1) | 0 | (8) | (1) |
| Capex | (0) | (0) | (0) | (0) | (0) |
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 | 24 | 25 | 11 | 1 | 7 | 8 | 0 | 3 |
| Profit before tax | 1 | 2 | 5 | 1 | 1 | 1 | 0 | 1 |
| Net profit | 1 | 1 | 4 | 1 | 1 | 1 | 0 | 0 |
| EPS (₹) | 0.11 | 3.66 | 2.47 | 0.93 | 0.58 | 0.63 | 0.13 | 0.43 |
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) | 33.9 | 16.8 | 130 of 179 | 28% |
| P/B | 3.5 | 1.1 | 158 of 185 | 15% |
| ROCE | 17.6 | 4.3 | 24 of 215 | 89% |
| ROE | 13.4 | 4.7 | 32 of 188 | 83% |
| Debt / Equity | 0.9 | 0.4 | 141 of 188 | 25% |
| EBITDA margin | 23.6 | 9.8 | 19 of 198 | 91% |
| Revenue growth | 213.6 | 6.9 | 15 of 192 | 93% |
| Profit growth | (53.6) | 20.0 | 158 of 203 | 22% |
| Market cap | 63 | 61 | 111 of 223 | 51% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 26 Oct 2026 · Board meeting set to approve September 2026 results | results | low | — | — |
| 15 Oct 2026 · Routine quarterly compliance certificate for share dematerialization filed | compliance | minimal | — | — |
| 30 Sept 2026 · Acquisition of Dubai-based New Nexus FZ LLC delayed to December 31, 2026 | strategic transactions | high | — | — |
| 26 Sept 2026 · Trading Window Closed for Lakhotia Polyesters from October 1, 2026 | compliance | minimal | — | — |
| 23 Sept 2026 · Inter-se transfer between PACs in Lakhotia Polyesters - no change in combined holding | ownership changes | high | — | — |
| 22 Sept 2026 · Lakhotia Polyesters appoints Praveen Purohit as statutory auditor for 5 years | management changes | medium | — | — |
| 22 Sept 2026 · Two new directors join Lakhotia Polyesters board | management changes | medium | — | — |
| 22 Sept 2026 · Inter-se transfer of 5.93% stake between PAC entities in Lakhotia Polyesters | ownership changes | high | — | — |
| 22 Sept 2026 · Intensive Finance acquires 5.93% from PAC in internal transfer | ownership changes | high | — | — |
| 22 Sept 2026 · PAC reshuffle: Intensive Softshare sells 5.93% to Intensive Finance (PAC) | ownership changes | high | — | — |
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.