NSE: SURYALAXMI · BSE: 521200
SURYALAKSHMI COT MIL LTD
Manufactures denim fabric and cotton yarn through two business segments. Denim Manufacturing contributed 53.1% of segment revenue with a 7.7% EBIT margin, while Spinning contributed 46.9% with a marginal -0.2% EBIT margin (segment figures for the nine months ending December 2023). FY26 total revenue was Rs 794.72 crore, virtually flat year-on-year at 0.37% growth. Raw materials (cotton and related inputs) are the largest cost at 58.3% of revenue, followed by other operating expenses at 23.1% and employee costs at 9.2%. FY26 EBITDA margin stood at 6.84% with net profit of Rs 3.12 crore. The company invested Rs 29.11 crore in capex during the year and carried a debt-to-equity ratio of 0.95. Denim fabric is sold to garment makers and apparel brands, while the spinning segment produces yarn for textile manufacturers. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Denim Manufacturing (53%), Spinning (47%). Asset-heavy textile manufacturer spanning denim weaving and yarn spinning
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 778 | 851 | 782 | 792 | 795 |
| EBITDA (ex other income) | 85 | 55 | 51 | 51 | 44 |
| margin % | 10.9 | 6.4 | 6.5 | 6.5 | 5.6 |
| Owners' profit | 0 | 10 | 4 | 4 | 3 |
| EPS, as reported (₹) | 0.13 | 6.76 | 1.92 | 1.93 | 1.66 |
| ROE % · ROCE % | 0.1 · 19.3 | 4.0 · 12.0 | 1.4 · 9.7 | 1.3 · 9.8 | 1.1 · 8.8 |
| Debt / equity (x) | 1.06 | 0.75 | 0.85 | 1.05 | 0.95 |
| Cash from operations | 50 | 111 | 19 | 8 | 62 |
| Capex | (11) | (29) | (33) | (21) | (29) |
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 | 193 | 194 | 246 | 178 | 192 | 184 | 241 | 182 |
| Profit before tax | (1) | 1 | 4 | 2 | 0 | 1 | 1 | 4 |
| Net profit | (1) | 1 | 3 | 1 | 0 | 1 | 1 | 2 |
| EPS (₹) | (0.28) | 0.49 | 1.50 | 0.78 | 0.16 | 0.28 | 0.44 | 1.25 |
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) | 23.5 | 16.8 | 106 of 179 | 41% |
| P/B | 0.4 | 1.1 | 18 of 185 | 89% |
| ROCE | 1.2 | 4.3 | 146 of 215 | 32% |
| ROE | 1.1 | 4.7 | 133 of 188 | 29% |
| Debt / Equity | 0.9 | 0.4 | 142 of 188 | 25% |
| EBITDA margin | 9.2 | 9.8 | 106 of 198 | 47% |
| Revenue growth | 2.2 | 6.9 | 108 of 192 | 44% |
| Profit growth | 61.1 | 20.0 | 77 of 203 | 62% |
| Market cap | 103 | 61 | 91 of 223 | 60% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 27 Oct 2026 · Board to approve September 2026 quarterly and half-year results | results | low | — | — |
| 3 Oct 2026 · Compliance certificate for dematerialization of shares for Q2 FY27 | compliance | minimal | — | — |
| 1 Oct 2026 · AGM 2026: All 5 resolutions approved with over 99.99 percent majority | board shareholder meetings | low | — | — |
| 30 Sept 2026 · Paritosh Agarwal re-appointed, new Independent Director appointed | management changes | medium | — | — |
| 30 Sept 2026 · 63rd AGM held, 5 resolutions transacted including director appointment | board shareholder meetings | medium | — | — |
| 28 Sept 2026 · ICRA revises outlook to Stable, reaffirms BBB rating | credit debt | medium | — | — |
| 24 Sept 2026 · Trading Window closed for insiders ahead of Q2 results | compliance | minimal | — | — |
| 4 Sept 2026 · Notice of 63rd AGM dispatched, meeting on 30 September 2026 | compliance | minimal | — | — |
| 3 Sept 2026 · 63rd AGM on Sep 30 2026; FY26 revenue Rs 795 cr, PAT Rs 3.12 cr | board shareholder meetings | low | — | — |
| 10 Aug 2026 · Newspaper publication of Q1 FY27 unaudited financial results | compliance | minimal | — | — |
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.