UNITEDPOLY
United Polyfab Gujarat financials
- Market cap
- ₹993 Cr
- Sector
- Textiles
What United Polyfab Gujarat Limited does
United Polyfab Gujarat Limited (UPGL) is a vertically integrated textile manufacturer whose operations run from spinning through weaving, dyeing and fabric manufacturing, producing cotton yarn, grey fabric, dyed fabric and denim fabric. The company describes technical textiles as a key focus area for future growth alongside its core fabric business. It holds one wholly owned subsidiary, United Green Distilleries Private Limited, incorporated in India.
Segments
- Textiles (spinning, weaving, dyeing, fabric manufacturing)
- Distillery
- Core product lines
- 4 (cotton yarn, grey fabric, dyed fabric, denim fabric)
- Vertically integrated production stages
- Spinning → Weaving → Dyeing → Fabric manufacturing
- Wholly owned subsidiaries
- 1 (United Green Distilleries Private Limited, India)
Quarterly results
Q1 FY27: revenue up 23.0%, net profit up 31.9% 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 | 159 | 152 | 153 | 146 | 185 +17% | 175 +15% | 172 +12% | 180 +23% |
| EBITDA | 12 | 12 | 11 | 13 | 13 +10% | 14 +17% | 9 −16% | 12 −7% |
| Net profit | 5 | 5 | 4 | 6 | 8 +53% | 5 −3% | 7 +81% | 8 +32% |
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 +23.9% 1Y
1Y: ₹34.94 on 10 Sept 2025 → ₹43.28. High ₹49.63 (26 Sept 2025), low ₹21.32 (24 Feb 2026).
Financials, as filed
Revenue grew 1.3% a year over 3 years, FY23 to FY26. Operating margin widened to 7.3%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹653 Cr | ₹908 Cr | ₹602 Cr | ₹679 Cr |
| Operating profit | ₹29 Cr | ₹32 Cr | ₹43 Cr | ₹49 Cr |
| Operating margin | 4.4% | 3.5% | 7.1% | 7.3% |
| Interest | ₹9 Cr | ₹9 Cr | ₹10 Cr | ₹10 Cr |
| Depreciation | ₹13 Cr | ₹13 Cr | ₹13 Cr | ₹13 Cr |
| Net profit | ₹5 Cr | ₹7 Cr | ₹18 Cr | ₹25 Cr |
| Net margin | 0.8% | 0.7% | 2.9% | 3.8% |
| Cash from operations | ₹18 Cr | ₹2 Cr | ₹19 Cr | ₹14 Cr |
| Free cash flow | ₹10 Cr | ₹-21 Cr | ₹17 Cr | ₹12 Cr |
| ROCE | 10.0% | 11.0% | 15.0% | 18.0% |
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 | ₹21 Cr | ₹21 Cr | ₹21 Cr | ₹23 Cr | ₹23 Cr | ₹23 Cr |
| Reserves | ₹25 Cr | ₹34 Cr | ₹43 Cr | ₹57 Cr | ₹99 Cr | ₹110 Cr |
| Borrowings | ₹108 Cr | ₹121 Cr | ₹114 Cr | ₹125 Cr | ₹109 Cr | ₹106 Cr |
| Other liabilities | ₹16 Cr | ₹34 Cr | ₹20 Cr | ₹38 Cr | ₹39 Cr | ₹34 Cr |
| Total liabilities | ₹170 Cr | ₹210 Cr | ₹198 Cr | ₹243 Cr | ₹270 Cr | ₹273 Cr |
| Fixed assets | ₹108 Cr | ₹97 Cr | ₹93 Cr | ₹80 Cr | ₹87 Cr | ₹84 Cr |
| Capital work in progress | ₹0 Cr | ₹1 Cr | ₹0 Cr | ₹25 Cr | ₹8 Cr | ₹0 Cr |
| Investments | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Other assets | ₹61 Cr | ₹112 Cr | ₹104 Cr | ₹138 Cr | ₹175 Cr | ₹189 Cr |
| Total assets | ₹170 Cr | ₹210 Cr | ₹198 Cr | ₹243 Cr | ₹270 Cr | ₹273 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
The ownership split has held steady since Jun 2025. The shareholder count grew 43% to 7,418.
- Promoters
- 51.5%
- FIIs
- 6.0%
- DIIs
- 2.2%
- Public
- 40.3%
Since Jun 2025
- FIIs −0.08 pp
- Public +0.07 pp
- Promoters 0.00 pp
How it drifted, 12 quarters
Over this window the public fell from 47.8% to 40.3% — −7.5 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 45.5%, FIIs 6.7%, Public 47.8%.Dec '23: Promoters 50.3%, FIIs 6.1%, Public 43.6%.Mar '24: Promoters 50.3%, FIIs 6.1%, Public 43.6%.Jun '24: Promoters 50.3%, FIIs 6.1%, Public 43.6%.Sep '24: Promoters 50.3%, FIIs 6.1%, Public 43.6%.Dec '24: Promoters 51.5%, FIIs 6.1%, DIIs 1.7%, Public 40.6%.Mar '25: Promoters 51.5%, FIIs 6.1%, DIIs 2.2%, Public 40.2%.Jun '25: Promoters 51.5%, FIIs 6.1%, DIIs 2.2%, Public 40.2%.Sep '25: Promoters 51.5%, FIIs 6.1%, DIIs 2.2%, Public 40.2%.Dec '25: Promoters 51.5%, FIIs 6.1%, DIIs 2.2%, Public 40.3%.Mar '26: Promoters 51.5%, FIIs 6.0%, DIIs 2.2%, Public 40.3%.Jun '26: Promoters 51.5%, FIIs 6.0%, DIIs 2.2%, Public 40.3%.
Who is on the register
Named in the Jun 2026 filing
Every holder of United Polyfab Gujarat Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Nirmalkumar Mangal Chand Mittal | 19.43% | unchanged |
| Gagan Nirmalkumar Mittal | 16.21% | unchanged |
| Amaysha Textile Private Limited | 12.90% | −0.06 pp |
| Gagan N Mittal Huf | 7.23% | unchanged |
| Amay Spincot Private Limited | 6.95% | −0.09 pp |
| Shilpa Gagan Mittal | 4.72% | unchanged |
| Albula Investment Fund Ltd FPI fund | 3.45% | unchanged |
| Cresta Fund Ltd FPI fund | 2.59% | unchanged |
| Harsh Vinodbhai Mittal | 2.29% | unchanged |
| Yash Vinod Mittal | 2.28% | unchanged |
| Chanakya Opportunities Fund I AIF | 2.16% | unchanged |
| United Polyfab Private Limited | 2.03% | unchanged |
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.
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