BSE: 514414
OXFORD INDUSTRIES LTD.
Classified under textiles and apparel (other textile products), but the operating textile revenue has effectively collapsed: full-year FY26 revenue was down about 69% year-on-year and Q4 FY26 revenue from operations was reported as nil. The FY26 net profit of Rs. 52.31 lakhs (versus a Rs. 50.31 lakhs loss in FY25) was driven by other income rather than any textile activity. The balance sheet is severely stressed, with accumulated losses fully eroding net worth and current liabilities exceeding current assets, leading the statutory auditor to issue a qualified opinion flagging material uncertainty on going concern. After new promoter Saroj Kumar Choudhary acquired a 46.46% stake (27.6 lakh shares) via an open offer at Rs. 5 per share, the board proposed a 99% share-capital reduction to absorb accumulated losses and is amending the objects clause to enter hospitals, healthcare, pharmaceuticals and medical equipment, while shifting the registered office from Maharashtra to Orissa. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Textiles and fabrics, Planned healthcare, hospitals, pharma, medical equipment. Distressed BSE-listed micro-cap with no operating textile revenue, undergoing change of control and a proposed pivot from textiles to healthcare and pharma
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 0 | 0 | 3 | 2 | 0 |
| EBITDA (ex other income) | 11 | (0) | 0 | (0) | (0) |
| margin % | — | (23.4) | 2.9 | (1.6) | — |
| Owners' profit | 11 | (0) | 0 | (0) | 1 |
| EPS, as reported (₹) | (0.11) | (0.12) | 0.16 | (0.06) | 0.15 |
| ROE % · ROCE % | (894.8) · (894.8) | 5.3 · 5.3 | (7.8) · (7.9) | 2.1 · 2.1 | (44.0) · (47.6) |
| Debt / equity (x) | (0.94) | 0.00 | (1.40) | 0.00 | 0.00 |
| Cash from operations | (0) | (0) | 0 | (1) | 1 |
| 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 | 1 | 1 | 71,440 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | 0 | 0 | 760 | (0) | 0 | (0) | 0 | (0) |
| Net profit | 0 | 0 | 760 | (0) | 0 | (0) | 0 | (0) |
| EPS (₹) | 0.01 | 0.06 | 0.01 | (0.14) | 0.47 | (0.04) | 0.59 | (0.15) |
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) | 13.1 | 16.8 | 74 of 179 | 59% |
| Revenue growth | (100.0) | 6.9 | 186 of 192 | 0% |
| Profit growth | 0.9 | 20.0 | 124 of 203 | 39% |
| Market cap | 7 | 61 | 213 of 223 | 5% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 19 Oct 2026 · Open Offer Completed; New Promoter Holds 46.46% | strategic transactions | high | — | — |
| 15 Oct 2026 · Routine compliance certificate on dematerialisation filed for Q2 FY26-27 | compliance | minimal | — | — |
| 25 Sept 2026 · Trading window closure from Oct 1, 2026 until Q2 results announcement | compliance | minimal | — | — |
| 21 Sept 2026 · Oxford Industries to shift registered office from Maharashtra to Odisha | compliance | minimal | — | — |
| 12 Sept 2026 · Oxford Industries 45th AGM: all 9 resolutions passed; capital reduction approved | board shareholder meetings | low | — | — |
| 12 Sept 2026 · AGM Results: 9 Resolutions Passed Including Capital Reduction | compliance | low | — | — |
| 11 Sept 2026 · Oxford Industries pivots to healthcare, pharma; shifts office to Odisha, cuts capital | corporate actions | medium | — | — |
| 11 Sept 2026 · Oxford Industries 45th AGM approves capital cut, shift to Odisha, healthcare pivot | board shareholder meetings | medium | — | — |
| 11 Sept 2026 · Oxford Industries 45th AGM: 9 resolutions passed including capital reduction | board shareholder meetings | low | — | — |
| 11 Sept 2026 · Oxford Industries 45th AGM: capital reduction, new auditor, office shift approved | board shareholder meetings | 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.