Cravatex Ltd.

•

cravatex.comBSE: -NSE: CRAVATEX

Market Cap₹ 87 Cr.

Current Price

High / Low₹ 372 / 300

Stock P/E10.1

Book Value₹ 464

Price to Book0.66

Dividend Yield3.85 %

ROCE7.9 %

ROE6.0 %

Face Value₹ 10

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ABOUT

KEY POINTS

Revenue Breakup Mar 2023 • Sports: 98.0% • Wellness: 1.7% • Unallocable: 0.3%

AI Sector View

AI GENERATED

Oil Gas & Consumable Fuels

Reduce

Sector economics are clouded by input volatility and uneven volume trends. WPI fuel inflation is very high at 20.05% (Jul/26), crude oil output is -5.3% YoY (2026-07), natural gas is -3.7% YoY (2026-07), and natural gas consumption is -3.0% YoY (2026-06), although refinery products grew 2.7% YoY (2026-07) and coal was 7.6% YoY (2026-07). Heavy FPI outflows of INR -15293 crore over 3 months to 2026-08-31 and negative oil-linked news flow reinforce the underweight.

Confidence

78%

View full sector analysis →

PROS

Company is almost debt free
Latest quarter profit grew 132.0% YoY, showing strong momentum
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.42x)
Company has been maintaining a healthy dividend payout of 49.4%
Stock looks reasonably valued - P/E of 10.1 is below its historical median
Company generates healthy free cash flow

CONS

Company is loss-making at the operating / net level
A large part of profit comes from other income (196.3% of PBT)
Company has a low return on capital employed of 7.1%
Company has a low return on equity of 5.3% over last 3 years
Company's sales have been declining over the last five years

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

Peer comparison

Oil Gas & Consumable FuelsTradingTrading

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

S.No.	Name
1.	ADANIENT	2936.00	53.39	397452.96	0.04	-1461.54	-249.67	32923.98	49.92	13.30	15.57
2.	PREMIERENE	998.00	27.21	45304.36	0.10	471.92	53.32	2462.59	35.25	33.72	29.03
3.	AEGISLOG	1270.55	35.64	44596.31	0.68	544.84	210.70	2356.86	37.07	19.76	30.28
4.	CPPLUS	3705.90	91.86	43840.96	0.04	142.20	332.51	1402.42	89.51	29.48	14.52
5.	REDINGTON	371.40	17.07	29035.10	1.62	453.49	94.65	34922.47	34.57	18.96	2.03
6.	HONASA	470.75	61.67	15347.59	0.64	90.45	118.87	755.95	27.00	8.99	14.58
7.	LLOYDSENT	74.20	100.87	11327.02	0.20	109.98	-55.77	563.03	70.15	12.84	18.07
8.	SGMART	826.10	83.74	10411.77	0.00	45.58	41.07	1308.57	14.41	10.43	4.49
9.	MMTC	64.18	21.52	9627.00	0.00	104.24	135.52	0.68	-50.00	33.46	-1423.53
10.	ENTERO	1827.20	63.41	7952.54	0.00	52.05	72.17	1940.50	38.23	10.93	5.00
11.	CELLO	342.50	24.69	7724.69	0.44	73.40	-8.99	526.72	-0.43	17.15	18.80
12.	CRAVATEX	337.80	10.15	87.29	3.85	0.44	132.02	32.22	39.32	7.92	-10.16

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
	57	57	38	51	26	55	32	61	23	51	37	40	32
	56	60	42	53	28	53	34	60	29	49	39	40	36
Operating Profit	0	-2	-4	-2	-2	2	-2	0	-6	3	-2	-1	-4
OPM %	0.32%	-3.78%	-10.00%	-3.71%	-9.04%	3.65%	-5.77%	0.83%	-26.37%	5.36%	-6.63%	-1.52%	-11.58%
	2	6	6	3	3	2	2	2	5	4	5	3	4
Interest	0	0	0	0	0	0	0	0	0	0	0	0	0
Depreciation	0	1	0	0	0	0	0	0	0	0	0	0	0
Profit before Tax	1	3	1	0	1	4	-0	2	-1	6	2	2	1
Tax %	64.46%	4.31%	43.97%	-66.67%	31.43%	28.38%	278.57%	31.75%	-0.74%	14.14%	16.67%	28.57%	34.53%
Net Profit	0	0	0	0	0	3	0	1	-1	5	1	2	0
	1.64	12.04	3.05	1.95	1.87	10.26	0.97	5.59	-5.29	20.18	5.21	6.19	1.70

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	266	356	718	865	532	594	504	203	174	151	160
	271	361	694	843	544	598	534	210	175	157	164
Operating Profit	-5	-6	24	21	-12	-3	-30	-8	-2	-6	-4
OPM %	-1.74%	-1.58%	3.35%	2.46%	-2.23%	-0.55%	-5.93%	-3.77%	-0.97%	-4.23%	-2.51%
	4	4	4	5	14	15	118	16	10	17	16
Interest	11	5	6	14	15	14	14	0	0	0	0
Depreciation	3	6	6	15	17	16	16	2	1	2	2
Profit before Tax	-15	-12	17	-2	-30	-19	58	6	6	9	11
Tax %	8.57%	-2.01%	36.85%	-94.40%	-2.88%	-7.25%	-1.03%	21.63%	24.22%	20.74%	18.86%
Net Profit	-14	-12	11	-5	-31	-20	59	5	5	7	9
EPS	0.00	0.00	0.00	-18.24	-118.45	-76.96	228.05	18.68	18.68	26.30	—
Dividend Payout %	0.00%	-2.09%	4.85%	-16.45%	-2.53%	-3.90%	0.66%	16.06%	66.90%	49.43%	—

COMPOUNDED SALES GROWTH

10 Years:: -5%
5 Years:: -22%
3 Years:: -33%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: -51%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: —
1 Year:: —

RETURN ON EQUITY

10 Years:: 19%
5 Years:: 58%
3 Years:: 5%
Last Year:: 6%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	3	3	3	3	3	3	3	3	3	3
Minority Interest	0	0	-0	71	75	75	0	0	0	0
	19	7	17	-4	-31	-52	90	96	104	117
	139	111	121	202	189	192	2	3	3	2
Trade Payables	32	61	23	42	23	40	21	10	13	8
	26	27	135	127	126	107	21	13	19	16
Total Liabilities	220	208	299	442	385	365	137	124	141	146
	46	41	41	86	70	55	3	4	4	3
	7	13	8	31	21	5	5	8	16	19
	42	36	84	82	85	94	29	11	11	23
	0	0	0	0	0	0	0	14	24	16
Cash & Bank	57	7	5	49	36	38	56	76	75	77
	68	111	161	194	173	172	44	12	10	8
Total Assets	220	208	299	442	385	365	137	124	141	146

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	36	-11	-2	35	-3	-6	145	19	3	1
Cash from Investing	-24	-4	3	-37	21	14	42	-1	-1	3
Cash from Financing	38	-34	-0	37	-21	-4	-168	-0	-1	-3
	50	-51	-2	32	-4	3	18	17	2	1

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
PER SHARE
EPS (₹)	-53.66	-47.74	41.26	-18.24	-118.45	-76.95	228.05	18.68	18.68	26.30
Book Value (₹)	83.09	36.10	76.53	-3.96	-109.44	-192.58	357.42	382.02	411.83	462.18
Dividend per Share (₹)	0.00	1.00	2.00	3.00	3.00	3.00	1.50	3.00	12.50	13.00
Cash EPS (₹)	-40.51	-25.55	63.44	39.72	-50.96	-13.62	290.52	25.97	24.40	32.14
PROFITABILITY
Operating Margin %	-0.41%	-0.38%	3.94%	3.06%	0.46%	2.02%	-3.46%	-3.77%	-0.97%	-4.23%
Net Margin %	-5.21%	-3.47%	1.49%	-0.55%	-5.76%	-3.35%	11.70%	2.38%	2.78%	4.50%
ROE %	-48.34%	-80.11%	73.26%	-50.28%	0.00%	0.00%	276.70%	5.05%	4.71%	6.02%
ROCE %	-3.41%	-5.24%	17.96%	7.78%	-10.50%	-3.59%	68.80%	6.87%	6.62%	7.92%
	-7.03%	-5.76%	4.20%	-1.27%	-7.40%	-5.31%	23.51%	3.70%	3.64%	4.74%
EFFICIENCY
Debtor Days	92	84	64	67	107	85	58	36	40	49
Inventory Days	67	40	31	35	57	55	45	36	23	42
Payable Days	65	68	30	19	33	28	31	40	38	50
	95	56	65	83	132	112	71	31	25	41
FINANCIAL HEALTH
Debt to Equity (x)	6.27x	11.26x	5.90x	-157.02x	-5.47x	-3.36x	0.00x	0.00x	0.00x	0.00x
Interest Coverage (x)	-0.42x	-1.41x	3.99x	0.83x	-1.02x	-0.31x	5.22x	16.10x	16.41x	24.60x
	1.49x	1.48x	1.32x	1.40x	1.39x	1.43x	2.95x	5.11x	4.22x	5.62x
GROWTH
Revenue Growth %	4.46%	33.71%	101.70%	20.48%	-38.49%	11.74%	-15.26%	-59.77%	-14.25%	-13.17%
Operating Profit Growth %	-113.02%	-22.53%	2193.28%	-6.26%	-90.83%	393.41%	-245.26%	148.51%	-2.23%	26.43%
Net Profit Growth %	-74.99%	11.02%	186.42%	-144.22%	-549.26%	35.03%	396.33%	-91.81%	0.02%	40.77%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-91.81%	0.02%	40.77%
VALUATION
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	23.40x	18.34x	11.60x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	1.14x	0.83x	0.66x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.69%	3.65%	4.26%
	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	4.37x	1.58x	0.22x

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	75.00	75.00	75.00	75.00	75.00	75.00	75.00	75.00	75.00
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
	25.00	25.00	25.00	25.00	25.00	25.00	25.00	25.00	25.00

Documents

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

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