BSE: 526179
LUDLOW JUTE & SPECIALITIES LTD
Manufactures and sells jute products, which accounted for 99.7% of segment revenue, with a small power segment contributing 0.3% of segment revenue. FY26 revenue from operations was ₹531.85 crore, up 76.8% year-on-year, with a net profit of ₹16.16 crore, a turnaround from a loss in FY25. Raw materials are the largest cost at 69.1% of revenue, followed by employee costs at 15.2% and other operating expenses at 14.4%. Depreciation was 1.2% of revenue. The company has bank facilities of ₹148.71 crore rated CRISIL A-/Stable (long-term) and CRISIL A2+ (short-term). Outside its core jute business, the company acquired 100% of Seva by Tara Foundation, a Section 8 non-profit, for about ₹10 lakhs, focused on veterinary, educational, and social work activities. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Jute products (100%), Power (0%). Cyclical commodity-linked jute manufacturing
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 574 | 547 | 476 | 301 | 532 |
| EBITDA (ex other income) | 30 | 17 | 0 | 8 | 42 |
| margin % | 5.2 | 3.1 | 0.1 | 2.7 | 7.9 |
| Owners' profit | 12 | 1 | (13) | (11) | 16 |
| EPS, as reported (₹) | 10.81 | 1.24 | (11.61) | (9.79) | 29.92 |
| ROE % · ROCE % | 6.6 · 11.1 | 0.8 · 4.4 | (7.6) · (4.3) | (6.3) · (0.8) | 8.7 · 14.6 |
| Debt / equity (x) | 0.55 | 0.68 | 0.73 | 0.88 | 1.15 |
| Cash from operations | 23 | 12 | 19 | (5) | (18) |
| Capex | (17) | (25) | (8) | 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 | 79 | 52 | 95 | 113 | 135 | 136 | 148 | 189 |
| Profit before tax | (5) | (4) | 3 | 6 | 9 | 4 | 2 | 9 |
| Net profit | (4) | (3) | 3 | 4 | 7 | 3 | 1 | 6 |
| EPS (₹) | (3.25) | (2.41) | 2.33 | 4.17 | 6.35 | 3.18 | 2.56 | 5.97 |
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. % |
|---|---|---|---|---|---|---|---|---|
| CHEVIOT COMPANY LIMITED | 626 | 9.2 | 0.89 | — | 7.3 | 9.5 | — | 33.7 |
| GLOSTER LIMITED | 564 | 44.0 | 0.52 | 8.8 | 1.7 | 1.9 | 23.7 | 9.5 |
| LUDLOW JUTE & SPECIALITIES LTD ◆ | 313 | 16.1 | 1.68 | — | 8.7 | 8.8 | — | 7.7 |
| AI CHAMPDANY INDUSTRIES LTD. | 58 | — | 1.33 | — | (90.2) | (23.8) | — | (78.3) |
| GRAMEVA LIMITED | 34 | 11.9 | 2.99 | — | 26.9 | 28.9 | — | 2.8 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 16.1 | 15.4 | 14 of 25 | 46% |
| P/B | 1.7 | 1.1 | 17 of 22 | 24% |
| ROCE | 8.8 | 5.2 | 12 of 31 | 63% |
| ROE | 8.7 | 5.0 | 7 of 23 | 73% |
| Debt / Equity | 1.1 | 0.6 | 19 of 23 | 18% |
| EBITDA margin | 7.7 | 6.6 | 7 of 22 | 71% |
| Revenue growth | 67.6 | 16.3 | 3 of 24 | 91% |
| Profit growth | 43.2 | 26.4 | 13 of 28 | 56% |
| Market cap | 313 | 24 | 1 of 32 | 100% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 8 Oct 2026 · Compliance certificate for dematerialization, Q2 FY26 | compliance | minimal | — | — |
| 25 Sept 2026 · Trading window closed from Oct 1 till Q2 results declaration | compliance | minimal | — | — |
| 19 Sept 2026 · CRISIL reaffirms A-/Stable rating on Ludlow Jute's Rs 175 cr bank facilities | credit debt | medium | — | — |
| 12 Sept 2026 · AGM approves addition of Chairman Emeritus provision to Articles of Association | corporate actions | medium | — | — |
| 12 Sept 2026 · 47th AGM results: 5 of 6 resolutions passed; Chairman Emeritus role rejected | compliance | minimal | — | — |
| 11 Sept 2026 · Ludlow Jute 47th AGM held via video conferencing; six resolutions tabled | board shareholder meetings | low | — | — |
| 11 Sept 2026 · Managing Director re-appointed for 3 more years | management changes | high | — | — |
| 11 Sept 2026 · Ms. Sruti Sukul re-appointed as Director at Ludlow Jute AGM | management changes | medium | — | — |
| 21 Aug 2026 · 47th AGM Notice and Annual Report FY 2025-26 sent to shareholders | board shareholder meetings | low | — | — |
| 21 Aug 2026 · Notice of 47th AGM and e-voting details published in newspapers | compliance | minimal | — | — |
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.