NSE: RAJPALAYAM · BSE: 532503
RAJAPALAYAM MILLS LTD.
Manufactures and sells textiles and operates wind power generation facilities. The textiles segment is the primary business, generating Rs 269.34 crore in FY26 segment revenue, while wind mills contributed Rs 5.75 crore. Standalone operations remain loss-making, with a net loss of Rs 1,512 lakhs in FY26, weighed down by finance costs of Rs 9,209 lakhs. On a consolidated basis, the company reported a net profit of Rs 114.36 crore, with the bulk of consolidated earnings coming from share of profits in associates including Ramco Cements, Ramco Industries, and Ramco Systems. Material inputs are the dominant cost, accounting for 46.3% of revenue at Rs 435.89 crore, followed by employee costs at 13.9% (Rs 130.53 crore) and other operating expenses at 21.7% (Rs 204.52 crore). The company has bank facilities of Rs 1,569.75 crore rated CARE A/Stable, with a debt-to-equity ratio of 0.47, and a board-recommended dividend of Rs 0.50 per share for FY26. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Textiles, Wind Mills. Asset-heavy textiles with high finance costs and consolidated profitability driven by associate investments
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 690 | 862 | 859 | 898 | 942 |
| EBITDA (ex other income) | 135 | 140 | 117 | 74 | 122 |
| margin % | 19.6 | 16.2 | 13.7 | 8.2 | 13.0 |
| Owners' profit | 0 | 0 | 0 | 0 | 0 |
| EPS, as reported (₹) | 194.00 | 94.00 | 48.00 | 19.00 | 124.25 |
| ROE % · ROCE % | 7.8 · 4.0 | 3.7 · 3.3 | 1.9 · 2.1 | 0.7 · 0.5 | 4.7 · 2.1 |
| Debt / equity (x) | 0.35 | 0.49 | 0.47 | 0.48 | 0.47 |
| Cash from operations | 4 | (46) | 148 | 116 | 66 |
| Capex | (189) | (355) | (98) | (24) | (35) |
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 | 218 | 229 | 229 | 222 | 189 | 241 | 243 | 269 |
| Profit before tax | (21) | (11) | (26) | (18) | (16) | 4 | (11) | (5) |
| Net profit | (7) | (6) | 34 | (5) | 8 | 17 | 60 | 30 |
| EPS (₹) | (8.00) | (6.00) | 37.00 | 5.00 | 9.00 | 19.00 | 64.68 | 32.17 |
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| TEXTILES | 458 | 46.0 |
| WIND MILLS | 22 | 2.2 |
| Textiles | 484 | 48.6 |
| Wind Mills | 33 | 3.3 |
| Total, before eliminations | 996 | 100.0 |
Exhibit 4: 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 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 5.5 | 16.8 | 23 of 179 | 88% |
| P/B | 0.3 | 1.1 | 5 of 185 | 98% |
| ROCE | (0.9) | 4.3 | 178 of 215 | 17% |
| ROE | 4.7 | 4.7 | 94 of 188 | 50% |
| Debt / Equity | 0.5 | 0.4 | 103 of 188 | 46% |
| EBITDA margin | 13.2 | 9.8 | 68 of 198 | 66% |
| Revenue growth | 21.3 | 6.9 | 54 of 192 | 72% |
| Profit growth | 738.1 | 20.0 | 15 of 203 | 93% |
| Market cap | 637 | 61 | 35 of 223 | 85% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 15 Oct 2026 · Board meeting on 3 Nov 2026 for Q2 results; trading window closed till 5 Nov | compliance | minimal | — | — |
| 15 Oct 2026 · Board meeting on 03 Nov 2026 to consider Q2 and H1 FY26-27 results | results | low | — | — |
| 15 Oct 2026 · Special window for transfer and demat of old physical shares | compliance | minimal | — | — |
| 10 Oct 2026 · Routine demat compliance certificate for Q2 FY27 | compliance | minimal | — | — |
| 25 Sept 2026 · Trading window closed for Q2 results | compliance | minimal | — | — |
| 28 Aug 2026 · Voting Results of 90th AGM - All 9 Resolutions Passed | board shareholder meetings | low | — | — |
| 28 Aug 2026 · 90th AGM proceedings - dividend Re.0.50 declared, RPTs approved | board shareholder meetings | low | — | — |
| 18 Aug 2026 · Newspaper notice on special window for physical share transfer and demat | compliance | minimal | — | — |
| 13 Aug 2026 · Rajapalayam Mills Q1 FY27: revenue up 39% YoY, swings to standalone profit | results | high | — | — |
| 13 Aug 2026 · Q1 FY27 Results: Standalone revenue up 38.6% YoY, returns to profit | 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.