BSE: 544585
SIHORA INDUSTRIES LIMITED
Operates as a Surat-based textile manufacturer in a single textile segment, listed on the BSE SME platform since October 17, 2025 under scrip code 544585. Revenue from operations grew 30% to ₹1,891.98 lakh in FY26 from ₹1,456.20 lakh in FY25, on strong sales growth. Profitability fell sharply with net profit dropping 48% to ₹96.50 lakh, weighed down by rising raw material costs (₹1,541.78 lakh versus ₹879.16 lakh in FY25) and a ₹436.55 lakh inventory build-up that pushed operating cash flow to negative ₹270.51 lakh. The company completed its IPO in October 2025, raising ₹1,056 lakh, and is now seeking shareholder approval to redirect unutilized IPO proceeds toward entering zipper manufacturing. The plan involves buying 4 Crochet Knitting, 12 Coiling, and 12 Stitching Machines, replacing earlier plans for a Needle Loom Jacquard Machine, Elastic Tape Winding Machine, Rubber Covering Machine, and Diesel Generator that were dropped due to higher costs, forex fluctuations, and adequate local power supply. Employee costs accounted for 15.4% of revenue and other operating expenses 15.7% of revenue in FY26. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Textiles (100%). Small, single-segment textile manufacturer; recently IPO'd on BSE SME
Exhibit 1: Financial summary, FY26–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY26 |
|---|---|
| Revenue | 19 |
| EBITDA (ex other income) | — |
| margin % | — |
| Owners' profit | — |
| EPS, as reported (₹) | 2.16 |
| ROE % · ROCE % | — · 9.9 |
| Debt / equity (x) | — |
| Cash from operations | (3) |
| Capex | (2) |
Exhibit 2: Quarterly performance, last 2 quarters
| ₹ crore | Q2 FY26 | Q4 FY26 |
|---|---|---|
| Revenue | 8 | 11 |
| Profit before tax | 1 | 0 |
| Net profit | — | — |
| EPS (₹) | 1.72 | 0.62 |
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) | 26.1 | 16.5 | 110 of 179 | 39% |
| ROCE | 8.0 | 4.3 | 70 of 215 | 68% |
| Market cap | 32 | 59 | 142 of 223 | 37% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 26 Oct 2026 · Board meeting to approve September 2026 half-year results | board shareholder meetings | low | — | — |
| 10 Oct 2026 · RTA confirms Reg 74(5) certificate not applicable for Q2 FY27 | compliance | minimal | — | — |
| 26 Sept 2026 · 3rd AGM results: Both resolutions passed with 100% in favor | board shareholder meetings | low | — | — |
| 26 Sept 2026 · Sihora Industries holds 3rd AGM, briefs shareholders on FY25-26 performance | board shareholder meetings | low | — | — |
| 4 Sept 2026 · Notice of 3rd AGM published in newspapers | compliance | minimal | — | — |
| 4 Sept 2026 · Newspaper publication of 3rd AGM notice; meeting on September 26, 2026 | compliance | minimal | — | — |
| 3 Sept 2026 · 3rd AGM notice filed with BSE; meeting set for September 26, 2026 | board shareholder meetings | low | — | — |
| 3 Sept 2026 · FY2025-26 annual report shows 29.9 percent revenue growth but lower profit | results | high | — | — |
| 3 Sept 2026 · Notice of 3rd AGM on September 26, 2026 via video conferencing | board shareholder meetings | low | — | — |
| 2 Sept 2026 · Sihora board approves FY26 annual report, calls 3rd AGM on Sept 26 | board shareholder meetings | low | — | — |
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.