BSE: 539985
Titaanium Ten Enterprise Limit
Operating from Surat, Gujarat, the company trades and manufactures yarn, grey cloth, knitted fabrics, and curtain products, and is listed on the BSE SME platform. In FY26, total income from operations stood at Rs 15,249.37 lakhs (about Rs 152.49 crore), up roughly 17% from Rs 13,035.51 lakhs in FY25, while net profit after tax rose modestly to Rs 318.42 lakhs from Rs 311.02 lakhs. The textile line accounts for almost all of the top line — in H1 FY26 the textile segment contributed Rs 76.48 crore against Rs 0.24 crore from a small logistics unit. The cost stack is dominated by materials at 107.9% of revenue, with employee cost at 1.0% and other operating expenses at 4.6%, leaving a very thin gross margin consistent with a trading-heavy mix. Capex ran at 2.9% of revenue in FY26. The board is led by Executive Director Ilaben Rohitkumar Kapadia and CEO Tejuskumar Kapadia. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Textile trading and manufacturing, Logistics. Thin-margin, trading-heavy textiles with marginal logistics
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 252 | 232 | 191 | 130 | 152 |
| EBITDA (ex other income) | — | — | — | — | — |
| margin % | — | — | — | — | — |
| Owners' profit | — | — | — | — | — |
| EPS, as reported (₹) | 2.14 | 2.38 | 1.97 | 5.16 | 4.81 |
| ROE % · ROCE % | — · 21.4 | — · 25.8 | — · 25.8 | — · 34.8 | — · 28.2 |
| Debt / equity (x) | — | — | — | — | — |
| Cash from operations | (1) | 8 | 4 | 6 | 6 |
| Capex | — | — | — | (3) | (4) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY23 | Q4 FY23 | Q2 FY24 | Q4 FY24 | Q2 FY25 | Q4 FY25 | Q2 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 108 | 125 | 81 | 111 | 66 | 64 | 77 | 76 |
| Profit before tax | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 2 |
| Net profit | — | — | — | — | — | — | — | — |
| EPS (₹) | 0.96 | 1.42 | 0.95 | 1.01 | 2.66 | 2.50 | 2.95 | 1.86 |
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) | 2.5 | 16.8 | 9 of 179 | 96% |
| ROCE | 18.9 | 4.3 | 18 of 215 | 92% |
| Revenue growth | (31.4) | 6.9 | 169 of 192 | 12% |
| Market cap | 17 | 61 | 180 of 223 | 19% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 23 Oct 2026 · Board to approve half-year results on 4 November 2026 | results | low | — | — |
| 9 Oct 2026 · RTA confirms no remat requests received for Sep 2026 quarter | compliance | minimal | — | — |
| 9 Oct 2026 · No undisclosed info behind recent price movement, says company | regulatory legal | low | — | — |
| 7 Oct 2026 · BSE asks company to explain sharp price movement | regulatory legal | high | — | — |
| 25 Sept 2026 · Trading window closed from Oct 1 till 48 hours after H1 results | compliance | minimal | — | — |
| 14 Sept 2026 · All 4 AGM resolutions passed with 100 percent approval | board shareholder meetings | low | — | — |
| 12 Sept 2026 · 18th AGM held: financial statements adopted, director reappointed | board shareholder meetings | low | — | — |
| 24 Aug 2026 · Titaanium Ten: 18th AGM on 12 Sep 2026 with remote e-voting facility | compliance | minimal | — | — |
| 21 Aug 2026 · FY26 Annual Report: Revenue up 17%, PAT Rs 318 lacs; no dividend | results | high | — | — |
| 21 Aug 2026 · Notice of 18th AGM on September 12, 2026 - Director pay hike and related party deals | 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.