Trades and distributes sarees from a base in Kolhapur, Maharashtra, operating as a wholesale and depot-style saree business. In FY26, revenue from operations was Rs 6,311.62 million, up 4.6% from Rs 6,035.90 million in FY25, but profit after tax fell 23.5% to Rs 234.06 million and EPS dropped to Rs 5.89 from Rs 7.72. The company went public in August 2024, raising Rs 1,600.13 million through the IPO, with Rs 810 million earmarked for working capital and Rs 96.67 million for general corporate purposes — both fully utilised by Q4 FY26. It holds a 50% stake in a partnership firm called Saraswati Saree Depot, which contributed Rs 9.73 million of income. The business is promoter-led by the Dulhani family; long-standing Chairman and Executive Director Shankar Laxmandas Dulhani resigned effective June 5, 2026. The statutory auditor has issued a qualified opinion for five consecutive years because the company does not maintain quantitative stock records for goods traded, though physical inventory counts are conducted. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Trading and wholesale of sarees, Partnership firm income. Trading-focused, family-promoted saree distribution business
| ₹ crore · consolidated | FY25 | FY26 |
|---|---|---|
| Revenue | 614 | 631 |
| EBITDA (ex other income) | 43 | 33 |
| margin % | 7.0 | 5.2 |
| Owners' profit | 31 | 23 |
| EPS, as reported (₹) | 7.72 | 5.89 |
| ROE % · ROCE % | 17.2 · 22.1 | 12.0 · 16.4 |
| Debt / equity (x) | 0.02 | 0.00 |
| Cash from operations | 2 | 36 |
| Capex | 0 | (2) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 165 | 182 | 136 | 145 | 208 | 144 | 134 | 148 |
| Profit before tax | 13 | 10 | 10 | 9 | 14 | 4 | 4 | 9 |
| Net profit | 10 | 8 | 7 | 6 | 11 | 3 | 3 | 7 |
| EPS (₹) | 2.42 | 1.99 | 1.77 | 1.61 | 2.65 | 0.81 | 0.82 | 1.70 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| PAGE INDUSTRIES LTD | 39,474 | 52.2 | 26.27 | — | 50.8 | 58.6 | — | 21.1 |
| ARVIND LIMITED | 15,120 | 36.5 | 3.65 | 15.8 | 10.3 | 11.9 | 12.9 | 9.4 |
| GOKALDAS EXPORTS LTD. | 5,773 | 56.0 | 2.67 | 15.3 | 4.6 | 6.0 | 26.9 | 12.1 |
| PEARL GLOBAL IND LIMITED | 5,506 | 17.7 | 3.83 | 11.0 | 18.8 | 16.8 | 27.5 | 11.2 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 26 Aug 2026 · 6th AGM notice and e-voting information published in newspapers | compliance | minimal | — | — |
| 26 Aug 2026 · Newspaper publication of 6th AGM notice and e-voting information | compliance | minimal | — | — |
| 25 Aug 2026 · Letters sent to shareholders without email IDs about AGM notice and Annual Report | compliance | minimal | — | — |
| 25 Aug 2026 · Saraswati Saree Depot submits 6th Annual Report for FY2025-26 | board shareholder meetings | low | — | — |
| 25 Aug 2026 · AGM on Sept 18, 2026; auditor and director appointments on agenda | board shareholder meetings | low | — | — |
| 18 Aug 2026 · Q1 FY27 results - Revenue up 1.9%, PAT up 4%, EBITDA margin contracts | results | high | — | — |
| 18 Aug 2026 · Q1 FY27 Investor Presentation - Margin Pressure Despite Revenue Growth | investor communications | medium | — | — |
| 14 Aug 2026 · BSE seeks clarification on significant price movement | regulatory legal | high | — | — |
| 3 Aug 2026 · Board meeting on Aug 14, 2026 to consider Q1 FY27 unaudited results | results | low | — | — |
| 15 Jul 2026 · Quarterly Compliance Certificate Under SEBI Regulation 74(5) | compliance | minimal | — | — |
| 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 |
| LUX INDUSTRIES LIMITED |
| 3,443 |
| 32.3 |
| 1.89 |
| 19.2 |
| 5.8 |
| 7.3 |
| 8.4 |
| 8.2 |
| KEWAL KIRAN CLOTHING LTD | 3,051 | 20.6 | 2.73 | 11.2 | 13.6 | 16.6 | 32.0 | 24.0 |
| S. P. APPARELS LIMITED | 2,582 | 24.5 | 2.75 | 12.4 | 10.7 | 14.2 | 19.3 | 15.9 |
| KITEX GARMENTS LTD | 2,473 | — | 2.00 | 36.2 | (1.1) | 0.3 | 7.9 | 11.3 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 10.4 | 17.7 | 13 of 39 | 68% |
| P/B | 1.3 | 1.6 | 15 of 35 | 56% |
| ROCE | 15.9 | 8.4 | 10 of 44 | 79% |
| ROE | 12.0 | 5.8 | 10 of 37 | 75% |
| Debt / Equity | 0.0 | 0.3 | 3 of 37 | 83% |
| EBITDA margin | 6.4 | 10.4 | 27 of 35 | 24% |
| Revenue growth | 1.9 | 7.9 | 22 of 37 | 42% |
| Profit growth | 4.0 | 6.8 | 23 of 37 | 39% |
| Market cap | 247 | 158 | 19 of 44 | 58% |
| 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 |
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.
