MAFATIND
Mafatlal Industries financials
- Market cap
- ₹885 Cr
- Sector
- Textiles
What Mafatlal Industries Limited does
Mafatlal Industries manufactures and markets traditional and technical textiles — ready-made uniforms, woven fabrics (polyester-cotton, whites, prints, voiles), home furnishings and hygiene products such as sanitary napkins and baby/adult diapers — largely through an asset-light model that outsources most production while the company focuses on branding and distribution. It also supplies non-woven fabric products like surgical gowns, patient wear and drapes to hospitals, and runs an institutional/B2B uniform business serving large-workforce sectors such as aviation, petrochemical, automobile, security and healthcare. Beyond textiles, the company has diversified into digital infrastructure — supplying digital classrooms, hardware/software solutions, after-sale services and ICT labs to government education departments — and into consumer durables such as kits, toys, utensils and furniture supplied under public welfare schemes.
Segments
- Textile and Related Products
- Digital Infrastructure
- Consumer Durables and Others
- Business segments
- 3 (Textile & Related Products; Digital Infrastructure; Consumer Durables & Others)
- ICT Labs installed (Digital Infrastructure)
- 333 public sector schools (Q3FY26)
- States served under Digital Infrastructure segment
- 5 (Tripura, Maharashtra, Jharkhand, Himachal Pradesh, Odisha)
- Manufacturing vs outsourcing mix
- 7% manufacturing / 93% outsourcing (9MFY26, asset-light model)
- Subsidiaries
- 3 — Pieflow Tech Solutions Pvt Ltd (60% stake), Mafatlal Apparel Exports Pvt Ltd (51% stake), Mafatlal Services Ltd (88% stake)
- Manufacturing facility
- Nadiad facility (site of VRS restructuring)
Quarterly results
Q1 FY27: revenue down 24.0%, net profit down 67.4% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 995 | 910 | 450 | 1,240 | 1,030 +4% | 717 −21% | 883 +96% | 942 −24% |
| EBITDA | 18 | 14 | 11 | 44 | 25 +39% | 15 +7% | 10 −9% | 18 −59% |
| Net profit | 20 | 25 | 23 | 46 | 22 +10% | 5 −80% | 18 −22% | 15 −67% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −15.4% 1Y
1Y: ₹144.95 on 10 Sept 2025 → ₹122.57. High ₹197 (28 Oct 2025), low ₹108.2 (30 Mar 2026).
Financials, as filed
Revenue grew 36.4% a year over 2 years, FY24 to FY26. Operating margin held at 2.4%.
| Year ending | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | ₹2.1k Cr | ₹2.8k Cr | ₹3.9k Cr |
| Operating profit | ₹45 Cr | ₹68 Cr | ₹94 Cr |
| Operating margin | 2.2% | 2.4% | 2.4% |
| Interest | ₹15 Cr | ₹12 Cr | ₹9 Cr |
| Depreciation | ₹16 Cr | ₹16 Cr | ₹16 Cr |
| Net profit | ₹98 Cr | ₹98 Cr | ₹91 Cr |
| Net margin | 4.7% | 3.5% | 2.4% |
| Cash from operations | ₹159 Cr | ₹-84 Cr | ₹141 Cr |
| Free cash flow | ₹173 Cr | ₹-93 Cr | ₹117 Cr |
| ROCE | 7.0% | 10.0% | 13.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹14 Cr | ₹14 Cr | ₹14 Cr | ₹14 Cr | ₹14 Cr | ₹14 Cr |
| Reserves | ₹453 Cr | ₹672 Cr | ₹601 Cr | ₹800 Cr | ₹788 Cr | ₹759 Cr |
| Borrowings | ₹148 Cr | ₹112 Cr | ₹94 Cr | ₹82 Cr | ₹61 Cr | ₹63 Cr |
| Other liabilities | ₹329 Cr | ₹423 Cr | ₹466 Cr | ₹910 Cr | ₹1.3k Cr | ₹914 Cr |
| Total liabilities | ₹944 Cr | ₹1.2k Cr | ₹1.2k Cr | ₹1.8k Cr | ₹2.1k Cr | ₹1.8k Cr |
| Fixed assets | ₹122 Cr | ₹97 Cr | ₹95 Cr | ₹86 Cr | ₹87 Cr | ₹85 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹10 Cr |
| Investments | ₹445 Cr | ₹634 Cr | ₹523 Cr | ₹632 Cr | ₹441 Cr | ₹391 Cr |
| Other assets | ₹377 Cr | ₹491 Cr | ₹557 Cr | ₹1.1k Cr | ₹1.6k Cr | ₹1.3k Cr |
| Total assets | ₹944 Cr | ₹1.2k Cr | ₹1.2k Cr | ₹1.8k Cr | ₹2.1k Cr | ₹1.8k Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, the public added +0.66 pp while promoters trimmed −0.23 pp. The shareholder count grew 10% to 60,676.
- Promoters
- 69.3%
- FIIs
- 0.3%
- DIIs
- 0.1%
- Public
- 30.3%
Since Jun 2025
- Public +0.66 pp
- Promoters −0.23 pp
- DIIs −0.22 pp
How it drifted, 12 quarters
Over this window the public went from 26.2% to 30.3% — +4.0 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 70.7%, FIIs 0.9%, DIIs 2.2%, Public 26.2%.Dec '23: Promoters 70.2%, FIIs 0.8%, DIIs 1.7%, Public 27.3%.Mar '24: Promoters 70.0%, FIIs 0.8%, DIIs 0.9%, Public 28.3%.Jun '24: Promoters 69.6%, FIIs 0.7%, DIIs 0.9%, Public 28.8%.Sep '24: Promoters 69.6%, FIIs 0.6%, DIIs 0.8%, Public 29.0%.Dec '24: Promoters 69.6%, FIIs 0.6%, DIIs 0.8%, Public 29.1%.Mar '25: Promoters 69.6%, FIIs 0.6%, DIIs 0.6%, Public 29.3%.Jun '25: Promoters 69.5%, FIIs 0.6%, DIIs 0.3%, Public 29.6%.Sep '25: Promoters 69.5%, FIIs 0.6%, DIIs 0.3%, Public 29.7%.Dec '25: Promoters 69.3%, FIIs 0.4%, DIIs 0.3%, Public 29.9%.Mar '26: Promoters 69.3%, FIIs 0.4%, DIIs 0.3%, Public 30.0%.Jun '26: Promoters 69.3%, FIIs 0.3%, DIIs 0.1%, Public 30.3%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Hrishikesh Arvind Mafatlal newly disclosed 0.01% held
The same filing shows 0 holders trimming and 0 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Mafatlal Industries Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Sumil Trading Pvt Ltd | 37.53% | unchanged |
| Nocil Limited | 13.54% | unchanged |
| HRISHIKESH ARVIND MAFATLAL (as a Trustee of Narsingha Trust) | 11.01% | unchanged |
| HRISHIKESH ARVIND MAFATLAL (as a Trustee of Karuna Trust) | 4.79% | unchanged |
| Minal Bharat Patel | 1.52% | unchanged |
| Pat Financial Consultants Private Limited | 1.51% | unchanged |
| Investor Education And Protection Fund Authority | 1.48% | unchanged |
| Anjali Kunal Agarwal | 1.23% | unchanged |
| Bharati Bharat Dattani | 1.05% | unchanged |
| Aarti Manish Chadha | 1.03% | unchanged |
| Ksj Trading Private Limited | 0.15% | unchanged |
| Hrishikesh Arvind Mafatlal | 0.01% | newly disclosed |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Learn to analyse Mafatlal Industries Limited
Guides on how to read this kind of business and the numbers that matter.