NSE: SHIVATEX · BSE: 511108
SHIVA TEXYARN LIMITED
Manufactures and sells textile products, with a dedicated Lamination Division handling lamination work. FY26 revenue from operations stood at Rs. 34,052.40 lakhs with profit before tax of Rs. 1,299.61 lakhs and an EBITDA margin of 11.67%. Materials form the largest cost at 41.7% of revenue, followed by other operating expenses at 24.8%, employee costs at 18.2%, depreciation at 4.3% and capex at 1.2% of revenue. The Board has approved amendments to the Object Clause of the Memorandum of Association to enter new business areas including interior design materials, technical textiles, AI, robotics and nanotechnology, subject to shareholder approval at the AGM. Senior management appointments made in FY26 include a Chief Operating Officer for the Lamination Division and a President for Strategic Affairs. Consolidated results include the financials of the associate L.K. Distributors Private Limited. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Lamination Division, Other textile operations. Textile manufacturer with a dedicated Lamination Division
Exhibit 1: Financial summary, FY24–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | 335 | 323 | 341 |
| EBITDA (ex other income) | 8 | 34 | 34 |
| margin % | 2.2 | 10.5 | 10.0 |
| Owners' profit | 0 | 12 | 0 |
| EPS, as reported (₹) | (8.31) | 9.31 | 7.88 |
| ROE % · ROCE % | (8.7) · (1.3) | 8.9 · 11.4 | 7.0 · 13.5 |
| Debt / equity (x) | 0.78 | 0.73 | 0.48 |
| Cash from operations | 4 | 13 | 50 |
| Capex | (7) | (4) | (4) |
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 | 95 | 75 | 92 | 76 | 105 | 76 | 83 | 74 |
| Profit before tax | 4 | 1 | 3 | 3 | 7 | 3 | 1 | 2 |
| Net profit | 3 | 2 | 6 | 2 | 6 | 2 | 0 | 2 |
| EPS (₹) | 2.13 | 1.36 | 4.76 | 1.89 | 4.49 | 1.26 | 0.24 | 1.43 |
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) | 21.4 | 16.8 | 98 of 179 | 46% |
| P/B | 1.4 | 1.1 | 107 of 185 | 41% |
| ROCE | 7.2 | 4.3 | 80 of 215 | 63% |
| ROE | 7.0 | 4.7 | 72 of 188 | 62% |
| Debt / Equity | 0.5 | 0.4 | 104 of 188 | 45% |
| EBITDA margin | 10.5 | 9.8 | 94 of 198 | 53% |
| Revenue growth | (3.1) | 6.9 | 128 of 192 | 34% |
| Profit growth | (24.4) | 20.0 | 144 of 203 | 29% |
| Market cap | 206 | 61 | 63 of 223 | 72% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 28 Oct 2026 · Board meeting set for November 12, 2026 results | results | low | — | — |
| 7 Oct 2026 · Routine quarterly certificate on share dematerialization for Q2 FY27 | compliance | minimal | — | — |
| 28 Sept 2026 · Trading window closed from Sept 30 for Q2 results | compliance | minimal | — | — |
| 17 Sept 2026 · Newspaper ad on extended window for re-lodging physical share transfers | compliance | minimal | — | — |
| 15 Sept 2026 · Promoter buys 1.5 lakh shares via inter-se transfer | ownership changes | medium | — | — |
| 10 Sept 2026 · Promoter entity sells 1.16% stake in Shiva Texyarn via inter-set transfer | ownership changes | low | — | — |
| 10 Sept 2026 · Promoter S K Sundararaman acquires 1.16% stake via inter-set transfer | ownership changes | low | — | — |
| 10 Sept 2026 · S K Sundararaman acquires 1.5 lakh shares via inter-se promoter transfer | ownership changes | medium | — | — |
| 2 Sept 2026 · Promoter SK Sundararaman to acquire 1.16% stake via inter-se transfer | ownership changes | medium | — | — |
| 31 Aug 2026 · Credit rating upgraded across all bank facilities by CARE Ratings | credit debt | 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.