RSWM Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2026 • Yarn: 76.4% • Fabric & Apparel: 23.6%
AI Sector View
AI GENERATEDTextiles
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.
PROS
- Latest quarter profit grew 140.5% YoY, showing strong momentum
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 16.79x)
- Working capital cycle has improved - days down from 4 to 2
- Company generates healthy free cash flow
CONS
- A large part of profit comes from other income (117.0% of PBT)
- Company has a low return on equity of 1.1% over last 3 years
- Company has a low return on capital employed of 4.2%
- Interest coverage is weak at 1.4x - earnings barely cover interest
- Recurring exceptional / one-off items are inflating headline profit
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| PAGEIND | 35971.80 | 53.08 | 40122.49 | 1.53 | 192.81 | -3.98 | 1420.45 | 7.89 | 73.60 | 20.35 |
| KPRMILL | 1134.85 | 42.52 | 38790.76 | 0.44 | 258.54 | 21.55 | 1935.52 | 14.77 | 20.16 | 19.37 |
| WELSPUNLIV | 207.65 | 70.66 | 19617.79 | 0.05 | 162.61 | 82.09 | 2795.45 | 23.66 | 6.41 | 11.53 |
| VTL | 583.75 | 19.94 | 16904.05 | 0.86 | 314.56 | 51.46 | 2703.08 | 13.31 | 8.91 | 18.11 |
| ARVIND | 581.35 | 38.19 | 15815.08 | 0.77 | 57.77 | 5.61 | 2500.96 | 24.65 | 15.30 | 9.64 |
| MANYAVAR | 579.35 | 34.94 | 14076.94 | 1.34 | 66.90 | 37.31 | 267.95 | 22.74 | 29.45 | 45.53 |
| PGIL | 2366.40 | 35.22 | 10930.53 | 0.61 | 99.23 | 51.37 | 1528.26 | 24.46 | 22.42 | 10.72 |
| ICIL | 451.50 | 59.27 | 8942.15 | 0.33 | 63.22 | 67.28 | 1206.96 | 25.89 | 8.73 | 11.88 |
| SWANCORP | 276.75 | 38.80 | 8674.92 | 0.05 | -35.99 | -233.33 | 1013.75 | -16.44 | 4.50 | -0.38 |
| GARFIBRES | 819.05 | 38.07 | 7997.89 | 1.10 | 64.60 | 21.56 | 482.37 | 31.35 | 20.98 | 18.70 |
| KUSUMGAR | 565.75 | 60.49 | 5939.89 | 0.00 | 426.47 | — | 2472.47 | — | 26.15 | 30.50 |
| RSWM | 225.20 | 16.76 | 1060.73 | 0.00 | 19.65 | 134.77 | 1161.24 | -0.78 | 5.68 | 7.76 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 901 | 1,007 | 977 | 1,171 | 1,208 | 1,166 | 1,196 | 1,256 | 1,169 | 1,150 | 1,093 | 1,142 | 1,161 | |
| 886 | 987 | 961 | 1,128 | 1,161 | 1,130 | 1,145 | 1,186 | 1,100 | 1,080 | 1,025 | 1,073 | 1,146 | |
| Operating Profit | 15 | 21 | 16 | 44 | 47 | 36 | 51 | 70 | 69 | 70 | 68 | 69 | 16 |
| OPM % | 1.68% | 2.06% | 1.67% | 3.75% | 3.90% | 3.06% | 4.22% | 5.58% | 5.94% | 6.06% | 6.24% | 6.01% | 1.34% |
| 10 | 9 | 6 | 148 | 7 | 7 | 7 | 9 | 12 | 9 | 3 | 16 | 9 | |
| Interest | 20 | 18 | 24 | 31 | 33 | 35 | 32 | 35 | 34 | 31 | 29 | 30 | 31 |
| Depreciation | 33 | 35 | 41 | 41 | 41 | 40 | 38 | 37 | 38 | 38 | 36 | 38 | 38 |
| Profit before Tax | -28 | -22 | -43 | 121 | -21 | -32 | -13 | 6 | 10 | 10 | 6 | 18 | 24 |
| Tax % | 35.95% | 34.42% | 24.82% | 17.50% | 34.64% | 33.96% | 38.65% | 75.50% | 27.65% | 37.57% | 32.26% | -92.91% | 31.39% |
| Net Profit | -18 | -15 | -32 | 100 | -14 | -21 | -8 | 2 | 7 | 6 | 4 | 35 | 17 |
| -3.81 | -3.12 | -6.82 | 21.16 | -2.90 | -4.50 | -1.70 | 0.34 | 1.48 | 1.33 | 0.89 | 7.33 | 3.55 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2,987 | 2,940 | 2,961 | 2,771 | 2,326 | 3,817 | 3,789 | 4,057 | 4,825 | 4,554 | 4,546 | |
| 2,661 | 2,713 | 2,782 | 2,587 | 2,150 | 3,385 | 3,541 | 3,961 | 4,622 | 4,278 | 4,324 | |
| Operating Profit | 326 | 227 | 179 | 184 | 176 | 432 | 248 | 96 | 203 | 276 | 222 |
| OPM % | 10.90% | 7.72% | 6.04% | 6.65% | 7.55% | 11.32% | 6.55% | 2.37% | 4.22% | 6.06% | 4.88% |
| 32 | 36 | 31 | 79 | 39 | 32 | 91 | 173 | 29 | 41 | 38 | |
| Interest | 110 | 117 | 120 | 109 | 83 | 68 | 74 | 92 | 135 | 123 | 121 |
| Depreciation | 132 | 124 | 123 | 132 | 128 | 113 | 127 | 150 | 157 | 150 | 150 |
| Profit before Tax | 115 | 21 | -33 | 24 | 4 | 283 | 138 | 28 | -60 | 44 | 59 |
| Tax % | 12.46% | 32.00% | 25.99% | 3.79% | -407.06% | 15.35% | 20.73% | -26.11% | 30.70% | -18.67% | -5.46% |
| Net Profit | 101 | 14 | -24 | 23 | 22 | 240 | 110 | 35 | -41 | 52 | 62 |
| EPS | 42.67 | 6.16 | -10.30 | 9.62 | 9.18 | 65.28 | 28.13 | 7.41 | -8.76 | 11.04 | — |
| Dividend Payout % | 29.15% | 32.49% | 0.00% | 0.00% | 0.00% | 24.53% | 21.49% | 0.00% | 0.00% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 4%
- 5 Years:
- 14%
- 3 Years:
- 6%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- -7%
- 5 Years:
- 19%
- 3 Years:
- -22%
STOCK PRICE CAGR
- 10 Years:
- -3%
- 5 Years:
- 1%
- 3 Years:
- 1%
- 1 Year:
- 40%
RETURN ON EQUITY
- 10 Years:
- 6%
- 5 Years:
- 8%
- 3 Years:
- 1%
- Last Year:
- 4%
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 | 24 | 24 | 24 | 24 | 24 | 24 | 47 | 47 | 47 | 47 |
| 610 | 877 | 760 | 682 | 738 | 975 | 1,221 | 1,262 | 1,261 | 1,325 | |
| 1,475 | 1,530 | 1,448 | 1,167 | 923 | 1,086 | 1,167 | 1,649 | 1,493 | 1,350 | |
| Trade Payables | 80 | 76 | 103 | 109 | 137 | 165 | 135 | 200 | 345 | 326 |
| 306 | 235 | 232 | 222 | 239 | 342 | 350 | 512 | 406 | 428 | |
| Total Liabilities | 2,494 | 2,742 | 2,566 | 2,204 | 2,060 | 2,591 | 2,920 | 3,670 | 3,552 | 3,476 |
| 1,166 | 1,089 | 1,132 | 1,012 | 913 | 932 | 1,085 | 1,453 | 1,430 | 1,385 | |
| Capital Work in Progress | 15 | 39 | 3 | 7 | 7 | 143 | 183 | 32 | 31 | 63 |
| 110 | 383 | 270 | 60 | 92 | 89 | 75 | 250 | 286 | 372 | |
| 541 | 528 | 432 | 507 | 450 | 509 | 677 | 810 | 730 | 620 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 645 | 696 | 631 | |
| Cash & Bank | 8 | 13 | 14 | 7 | 7 | 9 | 5 | 8 | 10 | 4 |
| 654 | 689 | 715 | 611 | 591 | 909 | 895 | 473 | 369 | 401 | |
| Total Assets | 2,494 | 2,742 | 2,566 | 2,204 | 2,060 | 2,591 | 2,920 | 3,670 | 3,552 | 3,476 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 248 | 171 | 277 | 249 | 296 | 238 | 117 | -72 | 410 | 428 | |
| Cash from Investing | -154 | -61 | -67 | 151 | 7 | -318 | -239 | -362 | -113 | -196 |
| Cash from Financing | -68 | -97 | -205 | -390 | -326 | 111 | 147 | 435 | -291 | -238 |
| 0 | 8 | -0 | -8 | 1 | 3 | -3 | 1 | 5 | -6 |
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 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-09-08 - Report On Re-Lodgement Of Transfer Requests Of Physical Shares For The Month Of August, 2026
2026-09-03 - Environmental, Social and Governance Rating
2026-08-26 - RSWM Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on August 26, 2026. Further, the company has informed the Exchange regarding voting results.
2026-08-26 - RSWM Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on August 26, 2026
2026-08-21 - Update on Joint Venture Company
2026-08-14 - Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
2026-08-11 - RSWM Limited has informed the Exchange about Transcript
2026-08-11 - RSWM Limited has informed the Exchange regarding a press release dated August 11, 2026, titled "RSWM Limited partners with Spain based Noize Design Studio (NDS9) toEstablish Next-Generation Industry 5.0 Green Garment Manufacturing Platform inIndia".
2026-08-11 - Update on Joint Venture Agreement
News
Recent coverage and analyst commentary for RSWM
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