NSE: PASHUPATI · BSE: 544448
PASHUPATI COTSPIN LIMITED
Operates in the textile sector under the 'Other Textile Products' classification, with the company name 'Cotspin' suggesting a focus on cotton spinning. Reported FY26 revenue of Rs. 687.81 crore at an EBITDA margin of 5.15%, reflecting a textile manufacturing operation with limited margin headroom. Raw materials are the dominant cost at 57% of revenue, while employee costs account for only 2.6% and depreciation 1.3%. Based in Ahmedabad, the company migrated from the SME platform to the Main Board of NSE and BSE in July 2025 and completed a 1:10 stock split in April 2026. Net profit for FY26 stood at Rs. 10.42 crore, with operating cash flow of Rs. 2,324.87 Lakhs. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Textile products. Textile manufacturer with EBITDA margin of about 5%; recently migrated from SME to main board
Exhibit 1: Financial summary, FY25–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY25 | FY26 |
|---|---|---|
| Revenue | 637 | 688 |
| EBITDA (ex other income) | 26 | 26 |
| margin % | 4.1 | 3.8 |
| Owners' profit | 0 | 10 |
| EPS, as reported (₹) | 8.31 | 0.66 |
| ROE % · ROCE % | 8.3 · 15.5 | 6.3 · 12.1 |
| Debt / equity (x) | 0.73 | 0.60 |
| Cash from operations | 14 | 37 |
| Capex | (1) | (1) |
Exhibit 2: Quarterly performance, last 6 quarters
| ₹ crore | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|
| Revenue | 293 | 118 | 240 | 159 | 170 | 130 |
| Profit before tax | 9 | 3 | 6 | 3 | 3 | 10 |
| Net profit | 8 | 2 | 4 | 3 | 2 | 7 |
| EPS (₹) | 4.81 | 1.26 | 2.59 | 1.68 | 0.11 | 0.46 |
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) | 25.1 | 16.8 | 108 of 179 | 40% |
| P/B | 11.7 | 1.1 | 178 of 185 | 4% |
| ROCE | 6.9 | 4.3 | 82 of 215 | 62% |
| ROE | 6.3 | 4.7 | 76 of 188 | 60% |
| Debt / Equity | 0.6 | 0.4 | 114 of 188 | 40% |
| EBITDA margin | 11.4 | 9.8 | 86 of 198 | 57% |
| Revenue growth | 9.7 | 6.9 | 79 of 192 | 59% |
| Profit growth | 276.1 | 20.0 | 26 of 203 | 88% |
| Market cap | 1918 | 61 | 19 of 223 | 92% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 21 Oct 2026 · Company attributes share price movement to market conditions | regulatory legal | medium | — | — |
| 21 Oct 2026 · BSE seeks clarification on significant price movement | regulatory legal | medium | — | — |
| 17 Oct 2026 · Quarterly share capital audit report with proposed 3:2 bonus issue noted | compliance | minimal | — | — |
| 8 Oct 2026 · Postal ballot notice for bonus shares and capital increase | compliance | minimal | — | — |
| 7 Oct 2026 · Certificate under SEBI Depositories Regulations for Q2 FY27 | compliance | minimal | — | — |
| 7 Oct 2026 · Postal ballot for bonus shares 3:2 and authorised capital hike | corporate actions | medium | — | — |
| 3 Oct 2026 · Pashupati Cotspin board approves 3:2 bonus issue, authorised capital raised to Rs 40 crores | corporate actions | high | — | — |
| 2 Oct 2026 · Pashupati Cotspin: All 16 AGM resolutions passed; Rs 0.05 dividend approved | board shareholder meetings | low | — | — |
| 30 Sept 2026 · Pashupati Cotspin 9th AGM held; Rs 0.05 dividend declared, RPTs approved | board shareholder meetings | low | — | — |
| 29 Sept 2026 · Board to consider bonus shares and capital increase on Oct 3 | corporate actions | 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.