BSE: 514378
YARN SYNDICATE LTD.
Classified under Trading & Distributors within Commercial Services & Supplies, the company operates from Narol, Ahmedabad, and is listed on BSE under code 514378. Its FY26 cost structure is dominated by materials at 47.5% of revenue, with smaller employee and other operating costs, consistent with a trading-style model. Standalone operations were profitable, posting a profit after tax of ₹94.58 lakhs, but the consolidated result swung to a loss of ₹52.47 lakhs because of a ₹147.05 lakhs share of losses from associate Stitched Textiles Limited. The company raised ₹4,684.50 lakhs through a January 2024 rights issue, deploying ₹1,984.50 lakhs to acquire equity in Stitched Textiles. Filings also reference material related party transactions, including one up to ₹50 crore with Varvee Global. The available facts do not specify what products or goods the company trades or who its customers are. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Trading & Distribution. Small trading entity with significant exposure to associate Stitched Textiles Limited.
Exhibit 1: Financial summary, FY24–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | 4 | 54 | 56 |
| EBITDA (ex other income) | 1 | 1 | (0) |
| margin % | 20.0 | 2.1 | (0.6) |
| Owners' profit | 1 | 0 | 0 |
| EPS, as reported (₹) | 1.70 | 1.01 | 0.41 |
| ROE % · ROCE % | 3.9 · 4.2 | (5.5) · 4.6 | (2.3) · 4.4 |
| Debt / equity (x) | 0.54 | 0.18 | 0.17 |
| Cash from operations | (26) | (5) | (1) |
| Capex | (5) | (1) | (1) |
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 | 1 | 5 | 16 | 33 | 25 | 16 | 12 | 3 |
| Profit before tax | (0) | (1) | 1 | 1 | 1 | (4) | 4 | (1) |
| Net profit | (1) | (1) | 0 | 0 | 0 | (7) | 5 | 1 |
| EPS (₹) | (0.55) | (0.96) | 0.27 | 0.22 | 0.33 | (5.37) | 3.92 | 0.70 |
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. % |
|---|---|---|---|---|---|---|---|---|
| REDINGTON LIMITED | 30,351 | 17.8 | 2.91 | 14.1 | 12.3 | 15.7 | 15.9 | 2.2 |
| MMTC LIMITED | 8,166 | 18.3 | 3.85 | 17.4 | 18.3 | 21.6 | (83.7) | 18426.5 |
| MSTC LIMITED | 4,696 | 20.0 | 5.20 | 13.9 | 24.2 | 31.8 | (13.9) | 86.5 |
| CREATIVE NEWTECH LIMITED | 1,593 | 24.5 | 4.11 | 18.4 | 18.1 | 21.0 | — | 5.2 |
| Pervasive Commodities Limited | 1,178 | — | 13.10 | — | (0.0) | (0.0) | — | 45.0 |
| The Yamuna Syndicate Ltd | 755 | 8.3 | 0.59 | 190.1 | 4.0 | 0.3 | 4.8 | 6.2 |
| SHIV AUM STEELS LIMITED | 748 | 65.8 | 6.19 | 47.7 | 6.0 | 6.9 | — | 4.9 |
| SHANKARA BUILDPRO LIMITED | 609 | 4.6 | 1.12 | 2.7 | 23.4 | 31.8 | — | 3.3 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/B | 0.7 | 1.0 | 60 of 150 | 60% |
| ROCE | 4.4 | 2.1 | 68 of 177 | 62% |
| ROE | (2.3) | 2.3 | 130 of 158 | 18% |
| Debt / Equity | 0.2 | 0.1 | 96 of 154 | 38% |
| EBITDA margin | (22.4) | 4.5 | 120 of 137 | 13% |
| Revenue growth | (91.6) | (8.6) | 120 of 135 | 11% |
| Profit growth | 221.2 | 0.6 | 22 of 157 | 87% |
| Market cap | 16 | 22 | 109 of 180 | 40% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 7 Oct 2026 · RTA confirms dematerialisation of securities for Sep 2026 quarter | compliance | minimal | — | — |
| 29 Sept 2026 · BSE trading approval for 5,000 shares converted from partly paid-up to fully paid-up | capital market events | low | — | — |
| 28 Sept 2026 · Intimation of closure of trading window for the quarter ended on 30th September,2026. | compliance | minimal | — | — |
| 26 Aug 2026 · Yarn Syndicate AGM Results: 8 Resolutions Passed with 99.99% Approval | compliance | minimal | — | — |
| 26 Aug 2026 · Yarn Syndicate AGM 2026: All 8 resolutions passed with over 99.99% approval | compliance | minimal | — | — |
| 24 Aug 2026 · Yarn Syndicate 80th AGM: 8 resolutions on accounts, director and related party deals | board shareholder meetings | low | — | — |
| 19 Aug 2026 · Riddhi Shah appointed as Company Secretary and Compliance Officer | management changes | medium | — | — |
| 19 Aug 2026 · Board appoints new Company Secretary and Compliance Officer | management changes | medium | — | — |
| 10 Aug 2026 · Trading approval received for partly paid-up shares converted to fully paid-up | capital market events | low | — | — |
| 8 Aug 2026 · Newspaper ad of Q1 FY27 unaudited results filed with BSE | 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.