BSE: 531412
RADIX INDUSTRIES (INDIA) LIMIT
Processes human hair as its sole business segment, operating from Tanuku, Andhra Pradesh, and listed on BSE. Revenue grew 4.7% year-on-year in FY26, driven entirely by this single segment. Materials and supplies are the dominant cost at roughly four-fifths of revenue, while employee costs and other operating expenses combined account for about 3% of revenue. The business carries zero debt and negligible capex, reporting operating cash flow of Rs 657.36 lakhs in FY26. Quarterly performance has been uneven — Q2 FY26 revenue rose about 50% year-on-year, while Q1 FY27 revenue was sharply lower than the year-ago quarter. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Human hair processing (100%). Small, single-segment personal care processor, debt-free, low capex
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 25 | 26 | 33 | 48 | 51 |
| EBITDA (ex other income) | 2 | 2 | 3 | 4 | 4 |
| margin % | 9.6 | 9.1 | 10.1 | 7.9 | 7.6 |
| Owners' profit | 2 | 2 | 2 | 3 | 3 |
| EPS, as reported (₹) | 1.00 | 1.02 | 1.49 | 1.75 | 2.13 |
| ROE % · ROCE % | 8.3 · 11.9 | 8.4 · 12.2 | 11.8 · 17.5 | 12.6 · 17.9 | 13.7 · 18.6 |
| Debt / equity (x) | 0.47 | 0.09 | 0.03 | 0.00 | 0.00 |
| Cash from operations | 5 | 8 | 4 | 8 | 7 |
| Capex | (1) | 0 | (1) | (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 | 13 | 16 | 12 | 8 | 12 | 17 | 13 | 3 |
| Profit before tax | 1 | 1 | 1 | 1 | 1 | 2 | 1 | 0 |
| Net profit | 0 | 1 | 1 | 1 | 1 | 1 | 0 | 0 |
| EPS (₹) | 0.28 | 0.67 | 0.45 | 0.42 | 0.47 | 0.94 | 0.30 | 0.24 |
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. % |
|---|---|---|---|---|---|---|---|---|
| GODREJ CONSUMER PRODUCTS | 84,107 | 43.9 | 6.65 | 27.4 | 14.7 | 19.0 | 6.6 | 19.8 |
| DABUR INDIA LTD | 63,864 | 32.4 | 5.41 | 21.3 | 15.8 | 19.8 | 6.6 | 24.3 |
| COLGATE PALMOLIVE LTD. | 43,846 | 32.5 | 27.68 | — | 83.7 | 107.1 | — | 31.3 |
| CUPID LIMITED | 42,357 | 115.8 | 93.96 | 280.9 | 24.0 | 30.3 | — | 40.3 |
| GILLETTE INDIA LTD | 23,582 | 35.3 | 24.92 | — | 69.1 | 83.4 | — | 29.8 |
| P&G HYGIENE & HEALTH CARE | 22,332 | 28.2 | 29.64 | — | 113.7 | 134.4 | — | 20.1 |
| EMAMI LIMITED | 16,295 | 21.8 | 5.58 | 15.6 | 26.5 | 28.4 | 5.6 | 23.5 |
| HONASA CONSUMER LIMITED | 14,649 | 50.5 | 10.38 | 46.1 | 14.2 | 16.9 | — | 17.6 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 79.4 | 35.3 | 12 of 15 | 21% |
| P/B | 10.0 | 6.7 | 8 of 13 | 42% |
| ROCE | 18.2 | 19.4 | 11 of 16 | 33% |
| ROE | 13.7 | 15.8 | 10 of 13 | 25% |
| Debt / Equity | 0.0 | 0.0 | 1 of 13 | 50% |
| EBITDA margin | 17.0 | 23.5 | 11 of 13 | 17% |
| Revenue growth | (58.1) | 13.4 | 14 of 14 | 0% |
| Profit growth | (43.2) | 9.4 | 12 of 13 | 8% |
| Market cap | 232 | 9817 | 11 of 16 | 33% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 24 Oct 2026 · Share conversion compliance certificate filed for September 2026 | compliance | minimal | — | — |
| 24 Oct 2026 · Board to approve September 2026 quarterly and half-year results | results | low | — | — |
| 28 Sept 2026 · Trading window closure from October 1 ahead of Q2 FY26 results | compliance | minimal | — | — |
| 23 Sept 2026 · 32nd AGM outcome: all resolutions passed, Rs 0.5 dividend declared | board shareholder meetings | low | — | — |
| 23 Sept 2026 · 32nd AGM outcome: dividend of Rs 0.5 per share declared, all resolutions passed | board shareholder meetings | low | — | — |
| 1 Sept 2026 · Annual report and AGM notice submission for FY 2025-26 | board shareholder meetings | low | — | — |
| 1 Sept 2026 · 32nd AGM notice on Sept 23, 2026; Rs 0.5 per share dividend proposed | board shareholder meetings | low | — | — |
| 30 Jul 2026 · Routine SEBI compliance certificate on dematerialisation for Q1 FY27 | compliance | minimal | — | — |
| 24 Jul 2026 · Q1 FY27 results: revenue falls to Rs 337.08 lakh, PAT at Rs 35.63 lakh | results | high | — | — |
| 24 Jul 2026 · Radix Industries Q1 FY27 results: PAT at Rs 35.63 lakh, revenue drops YoY | results | 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.