NSE: VISHAL · BSE: 538598
VISHAL FABRICS LTD.
Manufactures and sells textiles and garments under the Garments & Apparels classification. FY26 revenue stood at Rs 1,602.11 crore, with consolidated operations spanning three associates — Chiripal Textile Mills, Nandan Industries, and Quality Exim. Manufacturing runs from a factory on Narol Road in Ahmedabad, which suffered a small electrical fire in June 2026 with no injuries and no operational disruption. The company sits within the Chiripal Group, led by Managing Director Brijmohan Chiripal. In FY26, trade receivables rose sharply while long-term borrowings declined. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Textiles and garments. Asset-light textile manufacturer with high working-capital intensity
Exhibit 1: Financial summary, FY25–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY25 | FY26 |
|---|---|---|
| Revenue | 1,520 | 1,602 |
| EBITDA (ex other income) | 121 | 113 |
| margin % | 8.0 | 7.0 |
| Owners' profit | 29 | 36 |
| EPS, as reported (₹) | 1.47 | 1.52 |
| ROE % · ROCE % | 6.1 · 15.1 | 5.5 · 11.7 |
| Debt / equity (x) | 0.61 | 0.35 |
| Cash from operations | 108 | 19 |
| Capex | (11) | (4) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 340 | 385 | 404 | 391 | 397 | 433 | 424 | 348 |
| Profit before tax | 8 | 13 | 16 | 13 | 10 | 14 | 11 | 10 |
| Net profit | 5 | 7 | 10 | 7 | 9 | 11 | 8 | 9 |
| EPS (₹) | 0.48 | 0.37 | 0.39 | 0.37 | 0.44 | 0.43 | 0.34 | 0.38 |
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. % |
|---|---|---|---|---|---|---|---|---|
| PAGE INDUSTRIES LTD | 37,812 | 50.0 | 25.16 | — | 50.8 | 58.6 | — | 21.1 |
| ARVIND LIMITED | 13,369 | 32.3 | 3.23 | 14.1 | 10.3 | 11.9 | 12.9 | 9.4 |
| PEARL GLOBAL IND LIMITED | 5,588 | 18.0 | 3.89 | 11.2 | 18.8 | 16.8 | 27.5 | 11.2 |
| GOKALDAS EXPORTS LTD. | 4,744 | 46.0 | 2.20 | 12.9 | 4.6 | 6.0 | 26.9 | 12.1 |
| LUX INDUSTRIES LIMITED | 3,496 | 32.8 | 1.92 | 19.4 | 5.8 | 7.3 | 8.4 | 8.2 |
| SBC EXPORTS LIMITED | 3,114 | 76.9 | 38.83 | 70.5 | 31.5 | 28.3 | — | 13.9 |
| KEWAL KIRAN CLOTHING LTD | 2,631 | 17.8 | 2.35 | 9.6 | 13.6 | 16.6 | 32.0 | 24.0 |
| KITEX GARMENTS LTD | 2,250 | — | 1.82 | 34.0 | (1.1) | 0.3 | 7.9 | 11.3 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 10.3 | 16.2 | 13 of 37 | 67% |
| P/B | 0.6 | 1.5 | 6 of 35 | 85% |
| ROCE | 6.1 | 8.4 | 25 of 44 | 44% |
| ROE | 5.5 | 5.8 | 19 of 35 | 47% |
| Debt / Equity | 0.3 | 0.3 | 22 of 35 | 38% |
| EBITDA margin | 7.5 | 10.4 | 23 of 35 | 35% |
| Revenue growth | (11.1) | 7.9 | 28 of 37 | 25% |
| Profit growth | 21.6 | 6.8 | 14 of 37 | 64% |
| Market cap | 404 | 146 | 17 of 44 | 63% |
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 to approve September quarter unaudited results | results | low | — | — |
| 7 Oct 2026 · Compliance Certificate under SEBI Regulation 74(5) for Q2 FY26 | compliance | minimal | — | — |
| 26 Sept 2026 · Trading window closed from Oct 1 till 48 hours after Q2 FY27 results | compliance | minimal | — | — |
| 12 Sept 2026 · Credit rating affirmed by India Ratings for Vishal Fabrics | credit debt | medium | — | — |
| 11 Aug 2026 · Vishal Fabrics: All 4 resolutions passed at 41st AGM with 100% approval | board shareholder meetings | low | — | — |
| 11 Aug 2026 · Revised 41st AGM Proceedings Submitted - Vishal Fabrics | board shareholder meetings | medium | — | — |
| 11 Aug 2026 · Vishal Fabrics 41st AGM held on Aug 11, 2026; four resolutions passed | board shareholder meetings | medium | — | — |
| 6 Aug 2026 · Vishal Fabrics Q1 FY27 PAT at about Rs 7 cr, revenue dips 4.5 percent | results | high | — | — |
| 6 Aug 2026 · Vishal Fabrics Q1 FY27: revenue and profit decline year on year | results | high | — | — |
| 29 Jul 2026 · Board meeting on Aug 6 to approve Q1 FY27 unaudited results | results | 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.