Akshar Spintex Ltd.

•

aksharspintex.inBSE: 541303NSE: AKSHAR

Market Cap₹ 33 Cr.

Current Price

High / Low₹ 1 / 0

Stock P/E0.0

Book Value₹ 1

Price to Book0.45

Dividend Yield0.00 %

ROCE-6.0 %

ROE-6.7 %

Face Value₹ 1

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ABOUT

AI Sector View

AI GENERATED

Textiles

Hold

This sector relies on indirect export proxies rather than direct textile production data. Exports of goods rose 15.0% YoY (2026-06), the currency is weak at 95.23 (Sep/26), and export prices are 163.50, all of which can help exporters, though terms of trade at 102.30 are below the prior 114 in the snapshot context. FPI flows are modestly positive at INR 256 crore over 3 months to 2026-08-31, so the stance is mildly constructive but confidence is capped due to proxy reliance.

Confidence

50%

View full sector analysis →

PROS

Company is almost debt free
Latest quarter profit grew 148.2% YoY, showing strong momentum
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 3.98x)
Company generates healthy free cash flow

CONS

Company is loss-making at the operating / net level
Operating cash flow has been negative in recent years
Receivables are growing faster than sales - a possible quality concern
Company has a low return on capital employed of 0.3%
Company has a low return on equity of -1.7% over last 3 years
Promoter holding has decreased over last 2 years: -11.3pp

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

TextilesTextileTextile

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	KPRMILL	1176.80	44.09	40224.67	0.42	258.54	21.55	1935.52	14.77	20.16	19.37
2.	PAGEIND	35912.65	53.00	40056.52	1.53	192.81	-3.98	1420.45	7.89	73.60	20.35
3.	WELSPUNLIV	200.65	68.28	18956.46	0.05	162.61	82.09	2795.45	23.66	6.41	11.53
4.	VTL	588.30	20.09	17035.80	0.85	314.56	51.46	2703.08	13.31	8.91	18.11
5.	ARVIND	566.60	37.22	15413.82	0.79	57.77	5.61	2500.96	24.65	15.30	9.64
6.	MANYAVAR	569.45	34.34	13836.40	1.36	66.90	37.31	267.95	22.74	33.92	45.53
7.	PGIL	2328.85	34.66	10757.08	0.62	99.23	51.37	1528.26	24.46	22.42	10.72
8.	SWANCORP	284.70	39.91	8924.12	0.05	-35.99	-233.33	1013.75	-16.44	4.50	-0.38
9.	ICIL	437.65	57.45	8667.85	0.34	63.22	67.28	1206.96	25.89	8.73	11.88
10.	GARFIBRES	800.40	37.21	7815.77	1.12	64.60	21.56	482.37	31.35	20.98	18.70
11.	KUSUMGAR	581.05	62.12	6100.52	0.00	426.47	—	2472.47	—	26.15	30.50
12.	AKSHAR	0.42	0.00	33.07	0.00	5.98	583.43	299.33	1043.00	-6.02	7.31

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	38	44	45	48	37	23	26	31	26	22	34	34	30
	37	42	43	46	35	24	28	31	27	23	39	33	29
Operating Profit	2	2	2	2	2	-1	-2	-1	-1	-0	-5	1	0
OPM %	4.58%	4.18%	4.04%	4.86%	5.27%	-5.61%	-8.66%	-2.75%	-1.99%	-1.21%	-14.76%	3.49%	1.56%
	1	1	1	1	1	0	0	1	0	0	2	1	1
Interest	0	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation	1	1	1	1	1	1	1	1	2	2	2	2	2
Profit before Tax	1	1	1	2	1	-2	-3	-1	-2	-2	-5	1	1
Tax %	28.57%	28.57%	28.87%	37.50%	41.67%	33.05%	29.18%	10.16%	28.32%	-23.12%	29.42%	165.00%	42.56%
Net Profit	1	1	1	1	1	-2	-2	-1	-1	-2	-4	-0	1
	0.03	0.03	0.02	0.03	0.02	-0.05	-0.03	-0.01	-0.02	-0.02	-0.05	0.00	0.01

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	64	86	93	101	109	110	172	136	175	117	121
	52	77	85	95	108	105	159	136	167	119	125
Operating Profit	12	9	8	6	1	5	13	-0	8	-2	-4
OPM %	18.72%	10.41%	8.40%	5.98%	0.62%	4.67%	7.55%	-0.33%	4.43%	-2.03%	-3.03%
	0	0	6	4	2	1	3	2	3	2	4
Interest	6	3	2	3	3	3	3	2	1	1	0
Depreciation	4	4	4	4	4	4	4	4	4	5	7
Profit before Tax	2	3	8	4	-5	-0	10	-4	5	-6	-5
Tax %	89.39%	4.40%	-6.37%	41.70%	-24.49%	781.20%	27.31%	34.03%	31.12%	24.32%	-4.18%
Net Profit	0	3	9	2	-6	1	7	-3	3	-4	-6
EPS	0.09	1.07	3.56	0.93	-2.29	0.50	2.81	-0.09	0.12	-0.06	—
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	8.68%	0.00%	—

COMPOUNDED SALES GROWTH

10 Years:: 21%
5 Years:: 1%
3 Years:: -12%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: —

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: -54%
1 Year:: -24%

RETURN ON EQUITY

10 Years:: 5%
5 Years:: 3%
3 Years:: -2%
Last Year:: -7%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	24	24	24	25	25	25	25	25	30	79
	-1	2	11	16	10	11	18	16	14	9
	38	36	30	25	21	19	19	16	16	4
Trade Payables	1	4	3	6	5	8	14	15	8	2
	10	9	11	13	13	11	17	5	6	3
Total Liabilities	72	75	79	85	74	73	93	76	74	97
	58	56	52	49	50	46	43	39	39	37
Capital Work in Progress	0	0	0	5	0	0	0	0	0	0
	8	10	12	13	10	16	33	17	24	43
	0	0	0	0	0	0	0	0	5	8
Cash & Bank	1	0	0	0	0	0	0	0	0	3
	5	9	14	17	14	11	16	20	5	7
Total Assets	72	75	79	85	74	73	93	76	74	97

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	12	6	7	9	8	6	4	10	5	-30
Cash from Investing	-8	-1	-0	-5	-0	-1	-1	-0	-5	-2
Cash from Financing	-5	-5	-7	-3	-8	-6	-2	-10	-0	35
	-2	-0	0	0	-0	-0	-0	-0	-0	3

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
PER SHARE
EPS (₹)	0.09	1.07	3.56	0.90	-2.29	0.50	2.81	-1.11	0.12	-0.06
Book Value (₹)	9.72	10.82	14.38	16.30	14.01	14.50	17.29	16.26	1.46	1.12
Dividend per Share (₹)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.01	0.00
Cash EPS (₹)	0.09	0.15	0.28	0.13	-0.04	0.12	0.25	0.03	0.17	0.00
PROFITABILITY
Operating Margin %	18.89%	10.52%	15.33%	10.26%	2.45%	5.87%	9.56%	1.43%	4.43%	-2.03%
Net Margin %	0.36%	2.99%	9.19%	2.23%	-5.25%	1.12%	4.08%	-2.04%	1.97%	-3.81%
ROE %	1.07%	10.46%	28.28%	5.96%	-15.13%	3.49%	17.67%	-6.59%	8.18%	-6.73%
ROCE %	12.90%	7.79%	14.91%	8.93%	-2.09%	3.77%	18.80%	-3.67%	10.52%	-6.02%
	0.32%	3.50%	11.13%	2.75%	-7.22%	1.68%	8.45%	-3.27%	4.61%	-5.19%
EFFICIENCY
Debtor Days	12	16	21	18	16	13	4	18	18	20
Inventory Days	35	38	43	46	39	42	52	68	43	104
Payable Days	18	14	18	21	22	27	28	43	29	19
	28	41	46	43	32	28	28	43	33	105
FINANCIAL HEALTH
Debt to Equity (x)	1.90x	1.62x	1.08x	0.81x	0.81x	0.69x	0.59x	0.43x	0.43x	0.07x
Interest Coverage (x)	1.34x	2.04x	4.36x	2.45x	-0.45x	0.93x	4.75x	-1.26x	4.69x	-4.12x
	1.32x	1.08x	1.41x	1.42x	1.02x	1.23x	1.33x	1.31x	1.58x	9.91x
GROWTH
Revenue Growth %	259.28%	34.89%	7.91%	8.12%	8.41%	1.04%	56.13%	-21.25%	29.09%	-33.26%
Operating Profit Growth %	196.28%	-24.90%	57.30%	-27.65%	-74.10%	142.63%	153.61%	-88.23%	453.18%	-100.84%
Net Profit Growth %	126.85%	1031.82%	231.64%	-73.77%	-355.57%	121.68%	465.28%	-139.36%	224.99%	-228.74%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	110.42%	-149.06%
VALUATION
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	12.68x	0.00x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	1.51x	0.45x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.45%	0.00%
	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	7.96x	-473.45x

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	11.62	0.72	0.27	0.27	0.27	0.27	0.27	0.27	0.27
FIIs	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
DIIs	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	88.38	99.28	99.73	99.73	99.73	99.73	99.73	99.73	99.73

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-02

Copy of Newspaper Publication

2026-09-02 - Akshar Spintex Limited has informed the Exchange about Notice of Information regarding 13th Annual General Meeting (AGM) of the Company to be held on Monday, 28th September, 2026 has been published in the English and Gujarati newspaper Financial Express on 2nd September, 2026.

2026-09-01

Shareholders meeting

2026-09-01 - Akshar Spintex Limited has informed the Exchange regarding Notice of Annual General Meeting to be held on September 28, 2026

2026-09-01

Outcome of Board Meeting

2026-09-01 - Outcome of Board Meeting of AKSHAR SPINTEX LIMITED held on Tuesday, 1st September, 2026 at 1:10 P.M. for Approval of Notice of the 13th Annual General Meeting, Appointment of Scrutinizer etc.

2026-08-22

Cessation

2026-08-22 - Akshar Spintex Limited has informed the Exchange regarding Cessation of Mr Parshotam L. Vasoya as Non- Executive Independent Director of the company w.e.f. August 22, 2026.

2026-08-08

Copy of Newspaper Publication

2026-08-08 - Akshar Spintex Limited has informed the Exchange about Copy of Newspaper Publication for copy of extract of Financial Results for the Quarter Ended on 30th June 2026 in Financial Express (English edition) and in Financial Express (Gujarati edition) dated 8th August, 2026

2026-08-07

Updates

2026-08-07 - Akshar Spintex Limited has informed the Exchange regarding 'Attachment to the Outcome of Board Meeting held on 07th, August,2026 for declaration of financial Result'.

2026-08-07

Outcome of Board Meeting

2026-08-07 - Akshar Spintex Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.

2026-07-13

Certificate under SEBI (Depositories and Participants) Regulations, 2018

2026-07-13 - Akshar Spintex Limited has informed the Exchange about Certificate under Regulation 74(5) SEBI (Depositories and Participants) Regulations, 2018

2026-06-27

Trading Window

2026-06-27 - Akshar Spintex Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015

News

Recent coverage and analyst commentary for AKSHAR

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Akshar Spintex Ltd.

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Free 5nance Account

Name

KPRMILL

1176.80

44.09

40224.67

0.42

258.54

21.55

1935.52

14.77

20.16

19.37

PAGEIND

35912.65

53.00

40056.52

1.53

192.81

-3.98

1420.45

7.89

73.60

20.35

WELSPUNLIV

200.65

68.28

18956.46

0.05

162.61

82.09

2795.45

23.66

6.41

11.53

VTL

588.30

20.09

17035.80

0.85

314.56

51.46

2703.08

13.31

8.91

18.11

ARVIND

566.60

37.22

15413.82

0.79

57.77

5.61

2500.96

24.65

15.30

9.64

MANYAVAR

569.45

34.34

13836.40

1.36

66.90

37.31

267.95

22.74

33.92

45.53

PGIL

2328.85

34.66

10757.08

0.62

99.23

51.37

1528.26

24.46

22.42

10.72

SWANCORP

284.70

39.91

8924.12

0.05

-35.99

-233.33

1013.75

-16.44

4.50

-0.38

ICIL

437.65

57.45

8667.85

0.34

63.22

67.28

1206.96

25.89

8.73

11.88

GARFIBRES

800.40

37.21

7815.77

1.12

64.60

21.56

482.37

31.35

20.98

18.70

KUSUMGAR

581.05

62.12

6100.52

0.00

426.47

—

2472.47

—

26.15

30.50

AKSHAR

0.42

0.00

33.07

0.00

5.98

583.43

299.33

1043.00

-6.02

7.31

Jun 2023

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

Operating Profit

-1

-2

-1

-0

-5

OPM %

4.58%

4.18%

4.04%

4.86%

5.27%

-5.61%

-8.66%

-2.75%

-1.99%

-1.21%

-14.76%

3.49%

1.56%

Interest

Depreciation

Profit before Tax

-2

-3

-1

-2

-5

Tax %

28.57%

28.87%

37.50%

41.67%

33.05%

29.18%

10.16%

28.32%

-23.12%

29.42%

165.00%

42.56%

Net Profit

-2

-1

-2

-4

-0

0.03

0.02

0.03

0.02

-0.05

-0.03

-0.01

-0.02

-0.05

0.00

0.01

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

TTM

101

109

110

172

136

175

117

121

108

105

159

136

167

119

125

Operating Profit

-0

-2

-4

OPM %

18.72%

10.41%

8.40%

5.98%

0.62%

4.67%

7.55%

-0.33%

4.43%

-2.03%

-3.03%

Interest

Depreciation

Profit before Tax

-5

-0

-4

-6

-5

Tax %

89.39%

4.40%

-6.37%

41.70%

-24.49%

781.20%

27.31%

34.03%

31.12%

24.32%

-4.18%

Net Profit

-6

-3

-4

-6

EPS

0.09

1.07

3.56

0.93

-2.29

0.50

2.81

-0.09

0.12

-0.06

—

Dividend Payout %

0.00%

8.68%

0.00%

—

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Equity Capital

-1

Trade Payables

Total Liabilities

Capital Work in Progress

Cash & Bank

Total Assets

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

-30

Cash from Investing

-8

-1

-0

-5

-0

-1

-0

-5

-2

Cash from Financing

-5

-7

-3

-8

-6

-2

-10

-0

-2

-0

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

PER SHARE

EPS (₹)

0.09

1.07

3.56

0.90

-2.29

0.50

2.81

-1.11

0.12

-0.06

Book Value (₹)

9.72

10.82

14.38

16.30

14.01

14.50

17.29

16.26

1.46

1.12

Dividend per Share (₹)

0.00

0.01

0.00

Cash EPS (₹)

0.09

0.15

0.28

0.13

-0.04

0.12

0.25

0.03

0.17

0.00

PROFITABILITY

Operating Margin %

18.89%

10.52%

15.33%

10.26%

2.45%

5.87%

9.56%

1.43%

4.43%

-2.03%

Net Margin %

0.36%

2.99%

9.19%

2.23%

-5.25%

1.12%

4.08%

-2.04%

1.97%

-3.81%

ROE %

1.07%

10.46%

28.28%

5.96%

-15.13%

3.49%

17.67%

-6.59%

8.18%

-6.73%

ROCE %

12.90%

7.79%

14.91%

8.93%

-2.09%

3.77%

18.80%

-3.67%

10.52%

-6.02%

0.32%

3.50%

11.13%

2.75%

-7.22%

1.68%

8.45%

-3.27%

4.61%

-5.19%

EFFICIENCY

Debtor Days

Inventory Days

104

Payable Days

105

FINANCIAL HEALTH

Debt to Equity (x)

1.90x

1.62x

1.08x

0.81x

0.69x

0.59x

0.43x

0.07x

Interest Coverage (x)

1.34x

2.04x

4.36x

2.45x

-0.45x

0.93x

4.75x

-1.26x

4.69x

-4.12x

1.32x

1.08x

1.41x

1.42x

1.02x

1.23x

1.33x

1.31x

1.58x

9.91x

GROWTH

Revenue Growth %

259.28%

34.89%

7.91%

8.12%

8.41%

1.04%

56.13%

-21.25%

29.09%

-33.26%

Operating Profit Growth %

196.28%

-24.90%

57.30%

-27.65%

-74.10%

142.63%

153.61%

-88.23%

453.18%

-100.84%

Net Profit Growth %

126.85%

1031.82%

231.64%

-73.77%

-355.57%

121.68%

465.28%

-139.36%

224.99%

-228.74%

0.00%

110.42%

-149.06%

VALUATION

P/E (x)

0.00x

12.68x

0.00x

P/B (x)

0.00x

1.51x

0.45x

Dividend Yield %

0.00%

0.45%

0.00%

0.00x

7.96x

-473.45x

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

11.62

0.72

0.27

FIIs

0.00

DIIs

0.00

Government

0.00

88.38

99.28

99.73

Akshar Spintex Ltd.

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Akshar Spintex Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

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