Mafatlal Industries Ltd.

•

mafatlals.comBSE: 500264NSE: MAFATIND

Market Cap₹ 885 Cr.

Current Price

High / Low₹ 158 / 119

Stock P/E14.8

Book Value₹ 109

Price to Book1.01

Dividend Yield2.04 %

ROCE12.8 %

ROE12.1 %

Face Value₹ 2

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Consumer Durables & Others: 59.8% • Textile & Related Products: 38.6% • Technology & Related Products: 1.6%

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
Company has delivered good sales growth of 45.1% CAGR over last 5 years
Company comfortably covers its interest (12.2x coverage)
Company generates healthy free cash flow
Attractively priced for its growth - PEG of 0.4

CONS

Recent results are weak - TTM profit is down 56.8% versus prior year
A large part of profit comes from other income (40.3% of PBT)
Company has a low return on capital employed of 11.5%
Effective tax rate is unusually low at 5.8% - earnings may be flattered
Recurring exceptional / one-off items are inflating headline profit
Valuation is stretched - P/E of 14.8 is well above its own 5-year median (8.6)

* 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.	MAFATIND	122.55	15.01	884.55	2.04	14.68	-67.78	942.65	-24.00	12.60	1.92

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	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
	586	309	420	764	452	995	910	450	1,240	1,030	717	883	942
	573	301	410	749	427	977	896	439	1,196	1,005	703	873	931
Operating Profit	12	7	11	15	25	18	14	11	44	25	15	10	12
OPM %	2.11%	2.34%	2.53%	2.01%	5.47%	1.85%	1.57%	2.44%	3.53%	2.42%	2.04%	1.12%	1.26%
	23	21	15	6	6	8	13	6	5	11	4	9	8
Interest	3	3	5	4	4	3	3	2	2	3	2	2	2
Depreciation	4	4	4	4	4	4	4	4	4	4	4	4	4
Profit before Tax	27	21	17	14	24	20	21	10	42	29	12	13	20
Tax %	0.00%	0.00%	0.00%	-145.35%	-28.89%	-0.15%	-18.81%	-124.85%	-8.71%	23.41%	59.24%	-37.12%	25.37%
Net Profit	27	21	17	33	30	20	25	23	46	22	5	18	15
	3.89	2.96	2.40	4.67	4.24	2.78	3.43	3.22	6.39	3.08	0.70	2.48	2.03

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	1,239	1,168	1,024	1,005	602	999	1,371	2,078	2,807	3,870	3,573
	1,224	1,177	1,085	1,012	649	991	1,343	2,035	2,740	3,785	3,511
Operating Profit	15	-10	-61	-7	-47	8	27	44	68	86	61
OPM %	1.22%	-0.82%	-5.98%	-0.69%	-7.85%	0.81%	2.00%	2.11%	2.41%	2.22%	1.71%
	43	35	-53	42	-5	58	46	65	33	36	32
Interest	27	31	30	31	22	19	18	15	11	9	9
Depreciation	32	36	36	17	17	16	15	15	15	17	17
Profit before Tax	-1	-42	-180	-13	-91	32	40	79	75	97	74
Tax %	914.38%	0.41%	-0.00%	-2.61%	-2.90%	9.15%	6.93%	-24.94%	-31.66%	5.82%	19.29%
Net Profit	4	-42	-180	-14	-94	29	37	99	98	91	60
EPS	2.96	-30.03	-129.43	-9.85	-67.38	4.18	5.28	13.81	13.65	12.62	—
Dividend Payout %	67.47%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	14.65%	19.81%	—

COMPOUNDED SALES GROWTH

10 Years:: 11%
5 Years:: 45%
3 Years:: 41%

COMPOUNDED PROFIT GROWTH

10 Years:: 18%
5 Years:: —
3 Years:: 34%

STOCK PRICE CAGR

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

RETURN ON EQUITY

10 Years:: -1%
5 Years:: 10%
3 Years:: 13%
Last Year:: 12%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	14	14	14	14	14	14	14	14	14	14
	576	784	493	270	452	671	598	799	725	757
	286	265	218	160	163	143	115	87	71	70
Trade Payables	253	270	215	314	249	347	371	766	443	714
	201	183	191	176	184	167	201	254	205	259
Total Liabilities	1,329	1,517	1,131	934	1,062	1,342	1,298	1,920	1,459	1,814
	315	295	136	136	112	94	92	84	82	83
Capital Work in Progress	4	7	0	0	0	0	0	0	0	10
	284	502	374	169	445	634	523	632	444	391
	172	163	105	106	24	72	106	80	97	106
	0	0	0	0	0	0	0	638	479	710
Cash & Bank	14	36	19	36	58	90	73	268	162	258
	539	514	497	488	423	452	504	219	193	256
Total Assets	1,329	1,517	1,131	934	1,062	1,342	1,298	1,920	1,459	1,814

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	91	13	8	25	3	24	-4	159	-84	141
Cash from Investing	-73	49	40	84	30	61	36	-2	-17	-35
Cash from Financing	-11	-52	-57	-91	-29	-53	-34	-23	-31	-33
	4	9	-9	17	8	18	-4	133	-131	73

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
PER SHARE
EPS (₹)	2.96	-30.03	-129.43	-9.85	-67.33	20.82	5.31	13.81	13.65	12.62
Book Value (₹)	423.74	573.76	364.07	204.02	334.46	486.96	86.70	113.74	102.77	106.86
Dividend per Share (₹)	2.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	2.00	2.50
Cash EPS (₹)	5.25	-0.82	-20.72	0.50	-11.02	6.39	7.48	15.91	15.74	14.93
PROFITABILITY
Operating Margin %	5.10%	2.16%	-2.96%	4.96%	-1.85%	7.64%	5.36%	2.10%	2.41%	2.22%
Net Margin %	0.33%	-3.58%	-17.59%	-1.36%	-15.57%	2.92%	2.72%	4.73%	3.49%	2.35%
ROE %	0.85%	-6.02%	-27.60%	-3.47%	-25.02%	5.09%	5.78%	13.86%	12.65%	12.06%
ROCE %	3.62%	-1.16%	-17.17%	3.15%	-13.16%	7.20%	7.70%	11.77%	10.02%	12.82%
	0.34%	-2.94%	-13.60%	-1.33%	-9.39%	2.44%	2.84%	6.14%	5.81%	5.57%
EFFICIENCY
Debtor Days	88	90	86	82	143	86	72	81	73	56
Inventory Days	48	52	48	38	40	18	24	16	12	10
Payable Days	116	121	120	123	195	137	122	120	91	61
	21	21	14	-3	-12	-34	-27	-23	-7	5
FINANCIAL HEALTH
Debt to Equity (x)	0.42x	0.29x	0.41x	0.53x	0.32x	0.16x	0.15x	0.10x	0.09x	0.08x
Interest Coverage (x)	0.98x	-0.35x	-4.96x	0.57x	-3.12x	2.73x	3.27x	6.15x	7.80x	12.18x
	1.16x	1.09x	0.88x	1.02x	0.87x	0.99x	1.03x	1.11x	1.27x	1.25x
GROWTH
Revenue Growth %	-6.37%	-5.75%	-12.33%	-1.79%	-40.10%	65.96%	37.13%	51.65%	35.07%	37.87%
Operating Profit Growth %	3.16%	-60.01%	-220.06%	264.47%	-122.32%	789.32%	-3.63%	48.03%	-2.61%	17.20%
Net Profit Growth %	-75.92%	-1113.05%	-331.02%	92.39%	-583.94%	131.24%	27.96%	163.47%	-0.62%	-7.20%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	160.16%	-1.17%	-7.53%
VALUATION
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	8.21x	8.88x	8.57x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	1.00x	1.18x	1.01x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	1.65%	2.31%
	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	5.71x	7.30x	4.67x

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	69.62	69.61	69.57	69.56	69.53	69.45	69.32	69.32	69.30
	0.71	0.59	0.59	0.59	0.55	0.55	0.41	0.41	0.34
	0.93	0.80	0.78	0.60	0.34	0.34	0.33	0.29	0.12
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	28.74	29.01	29.07	29.25	29.59	29.66	29.93	29.98	30.24

Documents

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

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Mafatlal Industries Ltd.

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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

MAFATIND

122.55

15.01

884.55

2.04

14.68

-67.78

942.65

-24.00

12.60

1.92

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

586

309

420

764

452

995

910

450

1,240

1,030

717

883

942

573

301

410

749

427

977

896

439

1,196

1,005

703

873

931

Operating Profit

OPM %

2.11%

2.34%

2.53%

2.01%

5.47%

1.85%

1.57%

2.44%

3.53%

2.42%

2.04%

1.12%

1.26%

Interest

Depreciation

Profit before Tax

Tax %

0.00%

-145.35%

-28.89%

-0.15%

-18.81%

-124.85%

-8.71%

23.41%

59.24%

-37.12%

25.37%

Net Profit

3.89

2.96

2.40

4.67

4.24

2.78

3.43

3.22

6.39

3.08

0.70

2.48

2.03

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

1,239

1,168

1,024

1,005

602

999

1,371

2,078

2,807

3,870

3,573

1,224

1,177

1,085

1,012

649

991

1,343

2,035

2,740

3,785

3,511

Operating Profit

-10

-61

-7

-47

OPM %

1.22%

-0.82%

-5.98%

-0.69%

-7.85%

0.81%

2.00%

2.11%

2.41%

2.22%

1.71%

-53

-5

Interest

Depreciation

Profit before Tax

-1

-42

-180

-13

-91

Tax %

914.38%

0.41%

-0.00%

-2.61%

-2.90%

9.15%

6.93%

-24.94%

-31.66%

5.82%

19.29%

Net Profit

-42

-180

-14

-94

EPS

2.96

-30.03

-129.43

-9.85

-67.38

4.18

5.28

13.81

13.65

12.62

—

Dividend Payout %

67.47%

0.00%

14.65%

19.81%

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

576

784

493

270

452

671

598

799

725

757

286

265

218

160

163

143

115

Trade Payables

253

270

215

314

249

347

371

766

443

714

201

183

191

176

184

167

201

254

205

259

Total Liabilities

1,329

1,517

1,131

934

1,062

1,342

1,298

1,920

1,459

1,814

315

295

136

112

Capital Work in Progress

284

502

374

169

445

634

523

632

444

391

172

163

105

106

638

479

710

Cash & Bank

268

162

258

539

514

497

488

423

452

504

219

193

256

Total Assets

1,329

1,517

1,131

934

1,062

1,342

1,298

1,920

1,459

1,814

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

-4

159

-84

141

Cash from Investing

-73

-2

-17

-35

Cash from Financing

-11

-52

-57

-91

-29

-53

-34

-23

-31

-33

-9

-4

133

-131

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

PER SHARE

EPS (₹)

2.96

-30.03

-129.43

-9.85

-67.33

20.82

5.31

13.81

13.65

12.62

Book Value (₹)

423.74

573.76

364.07

204.02

334.46

486.96

86.70

113.74

102.77

106.86

Dividend per Share (₹)

2.00

0.00

2.00

2.50

Cash EPS (₹)

5.25

-0.82

-20.72

0.50

-11.02

6.39

7.48

15.91

15.74

14.93

PROFITABILITY

Operating Margin %

5.10%

2.16%

-2.96%

4.96%

-1.85%

7.64%

5.36%

2.10%

2.41%

2.22%

Net Margin %

0.33%

-3.58%

-17.59%

-1.36%

-15.57%

2.92%

2.72%

4.73%

3.49%

2.35%

ROE %

0.85%

-6.02%

-27.60%

-3.47%

-25.02%

5.09%

5.78%

13.86%

12.65%

12.06%

ROCE %

3.62%

-1.16%

-17.17%

3.15%

-13.16%

7.20%

7.70%

11.77%

10.02%

12.82%

0.34%

-2.94%

-13.60%

-1.33%

-9.39%

2.44%

2.84%

6.14%

5.81%

5.57%

EFFICIENCY

Debtor Days

143

Inventory Days

Payable Days

116

121

120

123

195

137

122

120

-3

-12

-34

-27

-23

-7

FINANCIAL HEALTH

Debt to Equity (x)

0.42x

0.29x

0.41x

0.53x

0.32x

0.16x

0.15x

0.10x

0.09x

0.08x

Interest Coverage (x)

0.98x

-0.35x

-4.96x

0.57x

-3.12x

2.73x

3.27x

6.15x

7.80x

12.18x

1.16x

1.09x

0.88x

1.02x

0.87x

0.99x

1.03x

1.11x

1.27x

1.25x

GROWTH

Revenue Growth %

-6.37%

-5.75%

-12.33%

-1.79%

-40.10%

65.96%

37.13%

51.65%

35.07%

37.87%

Operating Profit Growth %

3.16%

-60.01%

-220.06%

264.47%

-122.32%

789.32%

-3.63%

48.03%

-2.61%

17.20%

Net Profit Growth %

-75.92%

-1113.05%

-331.02%

92.39%

-583.94%

131.24%

27.96%

163.47%

-0.62%

-7.20%

0.00%

160.16%

-1.17%

-7.53%

VALUATION

P/E (x)

0.00x

8.21x

8.88x

8.57x

P/B (x)

0.00x

1.00x

1.18x

1.01x

Dividend Yield %

0.00%

1.65%

2.31%

0.00x

5.71x

7.30x

4.67x

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

69.62

69.61

69.57

69.56

69.53

69.45

69.32

69.30

0.71

0.59

0.55

0.41

0.34

0.93

0.80

0.78

0.60

0.34

0.33

0.29

0.12

Government

0.00

28.74

29.01

29.07

29.25

29.59

29.66

29.93

29.98

30.24

Mafatlal Industries Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

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Mafatlal Industries Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI