BSE: 526479
SKY INDUSTRIES LTD.
Manufactures hook and loop fastener tapes and related fastening solutions, primarily for the footwear and textile industries. The product range is being widened through a strategic partnership with Aplix Inc., the global fastening solutions company, and the company has showcased its offerings at the India International Footwear Fair (IIFF) 2026, Bharat TEX 2026 textile expo, and the OT World Exhibition in Leipzig, Germany, indicating exposure to footwear, general textile, and orthotics/prosthetics customers. A new 5-acre Gujarat manufacturing plant is under development, with capital work-in-progress rising to Rs 2,993.64 lakhs from Rs 762.75 lakhs and long-term borrowings stepping up to Rs 1,670.95 lakhs from Rs 58.04 lakhs, signalling a major capacity build-out. Materials are the largest cost line at 59 percent of revenue, followed by other operating expenses at 17.9 percent and employee costs at 9.4 percent. Capex ran at 27.4 percent of revenue during the year, reflecting the heavy Gujarat expansion. The board has recommended a final dividend of Re 1 per share (10 percent) on the Rs 10 face value for FY26, subject to shareholder approval. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Footwear industry fastener tapes, Textile industry fastening solutions, Aplix Inc. partnership products, Orthotics and prosthetics fasteners. Small-cap hook and loop fastener manufacturer in a capacity expansion phase
Exhibit 1: Financial summary, FY24–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | 82 | 84 | 86 |
| EBITDA (ex other income) | 7 | 9 | 11 |
| margin % | 8.7 | 11.0 | 12.9 |
| Owners' profit | 4 | 6 | 6 |
| EPS, as reported (₹) | 5.25 | 7.27 | 7.69 |
| ROE % · ROCE % | 10.4 · 16.7 | 12.9 · 18.9 | 12.0 · 13.4 |
| Debt / equity (x) | 0.31 | 0.26 | 0.62 |
| Cash from operations | 8 | 4 | 6 |
| Capex | (2) | (9) | (24) |
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 | 23 | 20 | 19 | 19 | 25 | 21 | 21 | 19 |
| Profit before tax | 2 | 2 | 2 | 1 | 2 | 2 | 2 | 2 |
| Net profit | 2 | 1 | 1 | 1 | 2 | 1 | 2 | 1 |
| EPS (₹) | 2.30 | 1.61 | 1.47 | 1.27 | 2.19 | 1.84 | 2.34 | 1.74 |
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) | 11.7 | 16.8 | 66 of 179 | 63% |
| P/B | 1.5 | 1.1 | 111 of 185 | 40% |
| ROCE | 11.7 | 4.3 | 42 of 215 | 81% |
| ROE | 12.0 | 4.7 | 38 of 188 | 80% |
| Debt / Equity | 0.6 | 0.4 | 118 of 188 | 37% |
| EBITDA margin | 13.4 | 9.8 | 65 of 198 | 68% |
| Revenue growth | (0.4) | 6.9 | 116 of 192 | 39% |
| Profit growth | 38.1 | 20.0 | 86 of 203 | 58% |
| Market cap | 75 | 61 | 108 of 223 | 52% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 10 Oct 2026 · Reg 74(5) Compliance Certificate filed for Q2 FY26 | compliance | minimal | — | — |
| 8 Oct 2026 · Board approves sale of Navi Mumbai factory, shifts registered office | strategic transactions | high | — | — |
| 25 Sept 2026 · Trading window closed from October 1 until results announcement | compliance | minimal | — | — |
| 21 Sept 2026 · Operations shifted from Bhiwandi unit to new Gujarat unit | capex operations | medium | — | — |
| 9 Sept 2026 · Newspaper ad on transfer of shares to IEPF | compliance | minimal | — | — |
| 14 Aug 2026 · SKY Industries Q1 FY27 Results PAT up 30 percent at Rs 131 lakh revenue dips | results | high | — | — |
| 7 Aug 2026 · Board meeting on 14 Aug to consider Q1 FY27 results | results | low | — | — |
| 3 Aug 2026 · Sky Industries 37th AGM: All resolutions passed; Re 1 dividend approved | board shareholder meetings | low | — | — |
| 1 Aug 2026 · SKY Industries 37th AGM held; Re.1 dividend declared, new directors appointed | board shareholder meetings | low | — | — |
| 27 Jul 2026 · Independent Director and Chairperson ceases after completing second term | management changes | 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.