BSE: 544059
SHANTI SPINTEX LIMITED
Manufactures denim fabric on a 19.2 million-metre platform and sells entirely B2B through dealers in the Indian domestic market. Revenue in FY26 stood at Rs 704.21 crore, with H1 FY26 alone delivering a record Rs 382 crore at 89.9% capacity utilisation. The business reports under two segments — Textiles and Renewable Energy — with 65% of power currently sourced from renewables and a stated roadmap to raise this to 90% by Q1 FY27. Customer concentration is high: the top 10 dealers account for ~99% of sales. Raw materials (cotton) dominate the cost structure at 94.2% of revenue. Integration is a stated priority — forward via Teesta Spintex (finishing), and backward via a Rs 55 crore dyeing unit scheduled to commission in December 2026 or January 2027. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Textiles, Renewable Energy. Materials-heavy, high customer concentration; asset-light on employees, heavy on raw material inputs
Exhibit 1: Financial summary, FY26–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY26 |
|---|---|
| Revenue | 704 |
| EBITDA (ex other income) | — |
| margin % | — |
| Owners' profit | — |
| EPS, as reported (₹) | 4.11 |
| ROE % · ROCE % | — · 11.8 |
| Debt / equity (x) | — |
| Cash from operations | (27) |
| Capex | (1) |
Exhibit 2: Quarterly performance, last 2 quarters
| ₹ crore | Q2 FY26 | Q4 FY26 |
|---|---|---|
| Revenue | 382 | 322 |
| Profit before tax | 8 | 4 |
| Net profit | — | — |
| EPS (₹) | 4.11 | 1.76 |
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. | 35,410 | 38.8 | 6.21 | 25.6 | 15.2 | 19.3 | 13.5 | 21.2 |
| WELSPUN LIVING LIMITED | 20,311 | 73.9 | 4.08 | 26.1 | 4.3 | 4.0 | 5.1 | 12.7 |
| VARDHMAN TEXTILES LIMITED | 14,333 | 16.6 | 1.35 | 11.0 | 7.1 | 7.4 | 10.0 | 20.4 |
| TRIDENT LIMITED | 11,018 | 27.7 | 2.31 | 13.5 | 7.9 | 8.6 | 8.1 | 17.7 |
| INDO COUNT INDUSTRIES LTD | 8,338 | 55.3 | 3.54 | 20.1 | 5.4 | 5.4 | 10.5 | 13.3 |
| GARWARE TECH FIBRES LTD | 7,621 | 36.8 | 5.63 | 23.8 | 14.7 | 18.7 | 8.1 | 20.5 |
| FILATEX INDIA LTD | 4,197 | 22.0 | 2.79 | 11.5 | 12.2 | 13.8 | — | 7.6 |
| SANATHAN TEXTILES LIMITED | 4,161 | 68.6 | 2.22 | 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) | 6.0 | 16.5 | 23 of 179 | 88% |
| ROCE | 9.6 | 4.3 | 58 of 215 | 73% |
| Market cap | 59 | 59 | 112 of 223 | 50% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 27 Oct 2026 · Revised half-year results after cash flow correction | results | medium | — | — |
| 8 Oct 2026 · Quarterly Investor Complaints Report: Zero Grievances Filed | compliance | minimal | — | — |
| 8 Oct 2026 · Zero Investor Complaints in Q2 FY27 - Shanti Spintex | compliance | minimal | — | — |
| 2 Oct 2026 · Shanti Spintex Q2 FY27 shareholding pattern filed with BSE | ownership changes | medium | — | — |
| 2 Oct 2026 · Routine compliance filing: RTA certificate for Sep 30 2026 quarter | compliance | minimal | — | — |
| 22 Sept 2026 · Trading window closure from Oct 1, 2026 for Sep quarter results | compliance | minimal | — | — |
| 12 Sept 2026 · Scrutinizer Report: 16th AGM Results - All Resolutions Passed Unopposed | board shareholder meetings | low | — | — |
| 11 Sept 2026 · Shanti Spintex 16th AGM concludes; 2 ordinary resolutions passed | board shareholder meetings | low | — | — |
| 17 Aug 2026 · 16th AGM notice - Sept 11, 2026 via video conferencing | board shareholder meetings | low | — | — |
| 17 Aug 2026 · Annual Report FY25-26 and 16th AGM Notice submitted to BSE | 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.