Kitex Garments Limited
NSE: KITEXGarments & Apparels
Share price
₹115.11
-1.56% close of 8 Oct 2026
Price-based ratios (P/B, dividend yield, EV/EBITDA) are as of 5 Oct 2026, the close above is 8 Oct 2026.
Business score
How strong the business is, in one number. The parts behind it are in Pro.
35
out of 100 · worked out 8 Oct 2026
Your ratios
The numbers you want to see first. Tap Edit to change them.
Market cap
₹2,302 Cr
P/E ratio
—
P/B ratio
2.2
ROCE
1.6%
ROE
-3.2%
Dividend yield
0.4%
Price & valuation chart
How the share price and its valuation have moved. Hover over the chart to see any day. Prices as of the last close.
Answers
Simple answers to the questions investors ask most, from the company's own numbers.
How fast it has been growing
Sales fell 36.4% over the past year. Meanwhile what it keeps of every 100 rupees of sales slipped from 21.0% to -0.2% over the last four years.
Whether it grew faster than its sector
It grew 9.3% a year against a sector median of 7.2% — 2.0 percentage points faster.
Room to re-rate, or risk of de-rating
It has no earnings, so there is no price-to-earnings to compare.
Whether growth justifies the valuation
It has no earnings to weigh the price against.
| Profit growth | Price per ₹1 profit | Per 1% growth | |
|---|---|---|---|
| Kitex Garments Limited — this one | -44%/yr | — | — |
| Page Industries Limited | 11%/yr | 53.0× | ₹4.8 |
| Arvind Limited | 6%/yr | 30.5× | ₹5.1 |
| Pearl Global Industries Limited | 25%/yr | 37.4× | ₹1.5 |
| Gokaldas Exports Limited | -25%/yr | 46.9× | — |
| Lux Industries Limited | -9%/yr | 31.3× | — |
Compared with companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.
How it compares with its peers
Against companies the exchange files under the same label (Garments & Apparels), it ranks 29 of 34 on returns, 15 of 32 on growth, 24 of 34 on margin. That grouping comes from the exchange's filing category, so some of them may not be real rivals.
What makes it hard to beat — and is that still true?
No durable advantage shows in the numbers: it earns 1.6% on capital, ahead of 15% of companies filed under the same label. That grouping comes from the exchange's filing category, so some of them may not be real rivals.
Whether its growth pays for itself
No — Over the last five years it made ₹647 crore of cash from the business but spent ₹1893 crore on plant and equipment, ₹1246 crore more than it made; the gap was mostly borrowed — borrowings rose from ₹73 crore to ₹1199 crore. And the profit is real: of every 100 rupees it reported over 12 years, about 123 arrived as cash (before interest, which is why it can exceed the profit). Its cash comes back faster than it used to: it went from being waiting 177 days for its cash to waiting 12 days for its cash.
Profit reality check
Is the profit real cash? Simple checks on the accounts. Facts only, not advice.
4 of 9 checks clear · 44%
Latest result · Q1 FY27
What the last results showed. Whether management kept its word is in Pro.
Revenue fell 19.5% year on year and the quarter swung to a loss.
Announced 9 Sep 2026 · Consolidated · Unaudited
Revenue
₹158 Cr
Revenue vs last year
-19.5%
Revenue vs last quarter
-4.7%
Net profit
-₹17 Cr
Profit vs last year
-190.1%
Net margin
-10.8%
EPS
₹-0.45
Checklist before you investPRO
Points for and against, in one list.
Key numbers & peers
The main numbers grouped by topic, and how the company compares with similar ones.
Price
- Market cap
- ₹2,302 Cr
- Prev close
- ₹115.11
- 52w High
- ₹233
- 52w Low
- ₹114
- Enterprise value
- ₹3,349 Cr
- Beta
- 1.6
- Price CAGR 1y
- -38.0%
- Price CAGR 3y
- 19.0%
- Price CAGR 5y
- 15.0%
- Price CAGR 10y
- 1.0%
Ratios
- Return on assets
- -0.4%
- PEG ratio
- —
- P/E ratio
- —
- P/B ratio
- 2.2
- EV / EBITDA
- 837.3
- Industry P/E
- 21.1
- ROCE
- 1.6%
- ROCE 5y average
- 10.0%
- ROE
- -3.2%
- Debt / Equity
- 1.2
- Interest coverage
- 1.2
- Dividend yield
- 0.4%
- ROE 3y average
- 6.0%
- ROE last year
- -3.0%
Annual P&L
- Annual revenue
- ₹667 Cr
- Annual profit
- -₹13 Cr
- Operating margin
- 4.5%
- Net profit margin
- -1.9%
- EBITDA margin
- 4.5%
- Sales growth 3y
- 6.2%
- Sales growth 5y
- 8.0%
- Profit growth 3y
- -44.0%
- Profit growth 5y
- -29.0%
- EPS
- ₹0.3
- Sales growth TTM
- -36.0%
- Profit growth TTM
- -121.0%
- Dividend payout
- 169.0%
Quarter P&L
- Sales latest quarter
- ₹158 Cr
- Profit latest quarter
- -₹17 Cr
- YoY quarterly sales growth
- -19.5%
- YoY quarterly profit growth
- -189.5%
- OPM latest quarter
- 6.4%
Balance Sheet
- Book Value
- ₹51.5
- Face Value
- ₹1.0
- Total debt
- ₹1,199 Cr
- Total cash
- ₹152 Cr
- Borrowings
- ₹1,199 Cr
- Reserves / Equity
- 50.5
Cash Flow
- Operating cash flow
- ₹346 Cr
- Free cash flow
- ₹18 Cr
- FCF yield
- -1.3%
- Net cash flow
- ₹75 Cr
Shareholding
- Promoter holding
- 56.7%
- FII holding
- 1.2%
- DII holding
- 0.1%
- Public holding
- 42.0%
Peer comparison
| Company | Price ₹ | P/E | Mkt cap ₹ Cr | Div yield % | Profit qtr ₹ Cr | Profit var % | Sales qtr ₹ Cr | Sales var % | ROCE % |
|---|---|---|---|---|---|---|---|---|---|
| Page Industries | 37,450.00 | 53.5 | 41,771 | 1.43 | 192.8 | -4.0 | 1,420.5 | 7.9 | 64.4 |
| Arvind Ltd | 531.50 | 32.9 | 14,439 | 0.85 | 57.8 | 25.9 | 2,501.0 | 24.6 | 14.7 |
| Pearl Global Ind | 1,272.25 | 37.5 | 11,753 | 0.56 | 99.2 | 50.9 | 1,528.3 | 24.5 | 19.9 |
| Gokaldas Exports | 672.40 | 47.9 | 4,927 | 0.00 | 44.3 | 6.8 | 1,153.5 | 20.7 | 7.7 |
| Lux Industries | 1,204.35 | 34.9 | 3,622 | 0.16 | 22.0 | -8.1 | 615.3 | 1.8 | 7.7 |
| SBC Exports | 62.12 | 87.2 | 2,958 | 0.00 | 9.4 | 269.8 | 106.0 | 72.8 | 16.8 |
| Kewal Kir.Cloth. | 470.35 | 19.6 | 2,899 | 0.86 | 41.0 | 21.5 | 279.0 | 19.4 | 17.2 |
| Kitex Garments | 118.30 | 2,360 | 0.41 | -17.1 | -143.3 | 158.4 | -19.4 | 1.6 | |
| Median | 123.85 | 21.7 | 424 | 0.00 | 6.9 | 15.8 | 111.9 | 9.9 | 14.0 |
Competes with: Addi Industries Limited, Arvind Limited, Bang Overseas Limited, Bella Casa Fashion & Retail Limited, Cantabil Retail India Limited, Celebrity Fashions Limited, Dollar Industries Limited, Filatex Fashions Limited, Gokaldas Exports Limited, Indian Terrain Fashions Limited, Iris Clothings Limited, Kewal Kiran Clothing Limited, Libas Consumer Products Limited, Lorenzini Apparels Limited, Lovable Lingerie Limited, Lux Industries Limited, Mittal Life Style Limited, Monte Carlo Fashions Limited, Nandani Creation Limited, Page Industries Limited, Pearl Global Industries Limited, Rupa & Company Limited, S. P. Apparels Limited, SBC Exports Limited, Saraswati Saree Depot Limited, Thomas Scott (India) Limited, VIP Clothing Limited, Vaxtex Cotfab Limited, Vinny Overseas Limited, Virat Industries Limited, Visagar Polytex Limited, Vishal Fabrics Limited, Zodiac Clothing Company Limited
Quarterly results
Sales and profit for each of the last 13 quarters. Newest on the right. ₹ crore.
| Line item | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 146 | 134 | 164 | 173 | 190 | 216 | 276 | 300 | 197 | 122 | 182 | 166 | 158 |
| Expenses | 132 | 115 | 132 | 139 | 150 | 161 | 222 | 249 | 162 | 138 | 174 | 164 | 148 |
| Material Cost | 140 | 72 | 68 | 61 | 98 | 105 | |||||||
| Change in Inventories | 12 | 17 | -12 | 34 | -4.30 | -26 | |||||||
| Purchases of Stock-in-Trade | 0 | 0 | 0 | 0 | 0 | 0 | |||||||
| Employee Cost | 40 | 38 | 42 | 38 | 32 | 33 | |||||||
| Other Expenses | 56 | 35 | 40 | 42 | 38 | 36 | |||||||
| Operating Profit | 14 | 19 | 33 | 35 | 40 | 55 | 54 | 51 | 34 | -16 | 8 | 2 | 10 |
| OPM % | 9.59 | 15 | 20 | 20 | 21 | 25 | 20 | 17 | 17 | -13 | 4.67 | 1 | 6.44 |
| Other Income | 2 | 6 | 2 | 3 | 3 | 3 | 8 | 5 | 1 | 30 | 5 | 34 | 8 |
| Exceptional items (within Other Income) | 0 | 0 | 18 | 0 | 0 | 0 | |||||||
| Interest | 1 | 2 | 2 | 3 | 2 | 3 | 4 | 5 | 4 | 8 | 13 | 21 | 14 |
| Depreciation | 5 | 5 | 5 | 5 | 5 | 4 | 4 | 3 | 3 | 8 | 13 | 20 | 18 |
| Profit before tax | 10 | 19 | 28 | 30 | 36 | 50 | 55 | 48 | 28 | -2 | -12 | -5 | -13 |
| Tax % | 24 | 29 | 47 | 34 | 27 | 27 | 27 | 33 | 32 | 171 | 37 | 81 | 28 |
| Net Profit | 8 | 13 | 15 | 20 | 27 | 37 | 41 | 32 | 19 | -6 | -17 | -9 | -17 |
| EPS in Rs | 0.39 | 0.67 | 0.76 | 1.01 | 1.37 | 1.87 | 2.06 | 1.66 | 1.04 | -0.08 | -0.47 | -0.20 | -0.45 |
| Diluted EPS in Rs | 1.66 | 1.04 | -0.08 | -0.47 | -0.20 | -0.45 |
Profit & loss
Yearly sales, costs and profit for 12 years, plus the last 12 months (TTM). ₹ crore.
| Line item | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 511 | 546 | 546 | 557 | 607 | 739 | 455 | 788 | 557 | 617 | 983 | 667 | 629 |
| Expenses | 340 | 357 | 376 | 423 | 468 | 607 | 355 | 618 | 496 | 516 | 781 | 637 | 624 |
| Material Cost | 439 | 299 | |||||||||||
| Change in Inventories | -17 | 35 | |||||||||||
| Purchases of Stock-in-Trade | 0 | 0 | |||||||||||
| Employee Cost | 159 | 150 | |||||||||||
| Other Expenses | 201 | 155 | |||||||||||
| Operating Profit | 171 | 189 | 170 | 134 | 139 | 132 | 100 | 171 | 61 | 101 | 202 | 30 | 4 |
| OPM % | 34 | 35 | 31 | 24 | 23 | 18 | 22 | 22 | 11 | 16 | 21 | 4.50 | 0.70 |
| Other Income | 13 | 20 | 3 | 2 | 22 | 39 | 4 | 27 | 44 | 14 | 19 | 70 | 77 |
| Exceptional items (within Other Income) | 0 | 18 | |||||||||||
| Interest | 21 | 16 | 9 | 6 | 4 | 7 | 3 | 4 | 4 | 7 | 15 | 47 | 55 |
| Depreciation | 21 | 21 | 22 | 23 | 27 | 26 | 23 | 21 | 21 | 21 | 16 | 45 | 59 |
| Profit before tax | 142 | 171 | 142 | 107 | 130 | 138 | 79 | 173 | 79 | 87 | 190 | 8.40 | -33 |
| Tax % | 30 | 34 | 35 | 35 | 37 | 25 | 31 | 28 | 28 | 36 | 28 | 257 | |
| Net Profit | 99 | 110 | 83 | 64 | 71 | 103 | 54 | 125 | 57 | 56 | 136 | -13 | -50 |
| EPS in Rs | 4.94 | 5.50 | 4.18 | 3.19 | 3.58 | 5.18 | 2.72 | 6.27 | 2.88 | 2.82 | 6.95 | 0.30 | -1.20 |
| Diluted EPS in Rs | 6.95 | 0.30 | |||||||||||
| Dividend Payout % | 6 | 6 | 9 | 16 | 14 | 10 | 18 | 8 | 17 | 18 | 7 | 169 |
Compounded growth
Average yearly growth over different spans, as stored. A span can cross a demerger or an acquisition.
Compounded sales growth
- 10 years
- 2%
- 5 years
- 8%
- 3 years
- 6%
- TTM
- -36%
Compounded profit growth
- 10 years
- -21%
- 5 years
- -29%
- 3 years
- -44%
- TTM
- -121%
Stock price CAGR
- 10 years
- 1%
- 5 years
- 15%
- 3 years
- 19%
- 1 year
- -38%
Return on equity
- 10 years
- 10%
- 5 years
- 8%
- 3 years
- 6%
- Last year
- -3%
Balance sheet
What the company owns and what it owes, at the end of each year. ₹ crore.
| Line item | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 5 | 5 | 5 | 7 | 7 | 7 | 7 | 7 | 7 | 6.65 | 20 | 20 |
| Reserves | 259 | 360 | 440 | 492 | 557 | 635 | 689 | 806 | 852 | 898 | 1,013 | 1,010 |
| Borrowings | 161 | 110 | 8 | 8 | 90 | 96 | 0 | 73 | 25 | 681 | 1,082 | 1,199 |
| Other Liabilities | 110 | 101 | 102 | 93 | 104 | 98 | 92 | 108 | 251 | 339 | 471 | 813 |
| Minority Interest | 177 | 209 | ||||||||||
| Total Liabilities | 535 | 576 | 555 | 600 | 758 | 835 | 787 | 994 | 1,134 | 1,925 | 2,587 | 3,042 |
| Fixed Assets | 188 | 173 | 173 | 172 | 214 | 234 | 227 | 243 | 264 | 244 | 232 | 1,142 |
| CWIP | 0 | 1 | 16 | 34 | 40 | 21 | 20 | 12 | 292 | 886 | 1,391 | 946 |
| Investments | 0 | 2 | 1 | 9 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 347 | 400 | 366 | 385 | 503 | 581 | 540 | 739 | 578 | 795 | 964 | 954 |
| Total Assets | 535 | 576 | 555 | 600 | 758 | 835 | 787 | 994 | 1,134 | 1,925 | 2,587 | 3,042 |
Cash flows
Real money coming in and going out each year — from the business, from investments and from loans. ₹ crore.
| Line item | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 128 | 135 | 45 | 29 | 9 | 51 | 116 | -10 | 295 | -38 | 54 | 346 |
| Cash from Investing Activity | -30 | -10 | -41 | -51 | -79 | -26 | -8 | -46 | -415 | -607 | -455 | -334 |
| Cash from Financing Activity | 2 | -78 | -120 | -15 | 72 | -25 | -99 | 60 | 57 | 650 | 390 | 64 |
| Net Cash Flow | 101 | 47 | -116 | -38 | 1 | 0 | 10 | 4 | -62 | 4 | -10 | 75 |
| Free Cash Flow | 98 | 129 | 17 | -9 | -68 | 22 | 107 | -37 | -121 | -655 | -451 | 18 |
Ratios
How fast customers pay, how long stock sits, and how well capital earns — year by year.
| Line item | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 45 | 64 | 88 | 81 | 99 | 124 | 142 | 145 | 133 | 152 | 126 | 68 |
| Inventory Days | 20 | 22 | 76 | 148 | 191 | 148 | 252 | 154 | 161 | 235 | 165 | 165 |
| Days Payable | 34 | 72 | 85 | 72 | 62 | 54 | 77 | 61 | 58 | 79 | 67 | 61 |
| Cash Conversion Cycle | 30 | 15 | 79 | 157 | 228 | 218 | 317 | 238 | 237 | 308 | 224 | 173 |
| Working Capital Days | -58 | -24 | 99 | 138 | 136 | 137 | 242 | 177 | 176 | 207 | 137 | 12 |
| ROCE % | 42 | 33 | 24 | 23 | 21 | 11 | 22 | 9 | 7 | 10 | 2 |
Price trend
The price as a Renko brick chart: small moves drop out so the bigger path stands out.
Every brick is the same size, about one typical day's move. A new brick needs a full brick's move; turning the other way needs two. Bricks show where the price went, not where it will go.
Open interestPRO
Where option traders are positioned on this stock.
Industry numbers
The numbers that matter most in this industry, from the company's own filings.
1 when an audit qualification is filed as repetitive
0.00flag
2026-03-31
the company's own unlisted debt securities in default at period end
0.00cr
2026-06-30
the company's own loans / revolving facilities in default at period end (standalone filing)
0.00cr
2026-06-30
net debt from the filed balance sheet at the newest year end: Borrowings − Cash Equivalents − Investments (Current); negative = net cash
1,047inr_cr
2026-03-31
guarantees / comfort given for promoter, promoter group, directors and KMP
0.00cr
2026-03-31
loans outstanding to promoter, promoter group, directors and KMP (governance filing)
0.00cr
2026-03-31
security given for the borrowing of promoter, promoter group, directors and KMP
0.00cr
2026-03-31
FY revenue / permanent employees + workers, same basis (calc)
13,11,371inr
2026-03-31
News
News and filings about Kitex Garments Limited. Open one to see why it matters.
No recent news for this company.
Supply chain
Who it buys from, sells to and competes with — as recorded in our map of company links.
Competes with
- Addi Industries Limited
- Arvind Limited
- Bang Overseas Limited
- Bella Casa Fashion & Retail Limited
- Cantabil Retail India Limited
- Celebrity Fashions Limited
- Dollar Industries Limited
- Filatex Fashions Limited
- Gokaldas Exports Limited
- Indian Terrain Fashions Limited
- Iris Clothings Limited
- Kewal Kiran Clothing Limited
- Libas Consumer Products Limited
- Lorenzini Apparels Limited
- Lovable Lingerie Limited
- Lux Industries Limited
- Mittal Life Style Limited
- Monte Carlo Fashions Limited
- Nandani Creation Limited
- Page Industries Limited
- Pearl Global Industries Limited
- Rupa & Company Limited
- S. P. Apparels Limited
- SBC Exports Limited
- Saraswati Saree Depot Limited
- Thomas Scott (India) Limited
- VIP Clothing Limited
- Vaxtex Cotfab Limited
- Vinny Overseas Limited
- Virat Industries Limited
Depends on the price of
- cotton yarn
Exports to
- European markets
- United States
Sells to
- Amazon · cotton infantwear garments
- Garan Mfg. Corp. · cotton infantwear garments (Garanimals)
- Gerber Childrenswear LLC · cotton infantwear garments
- Jockey · cotton garments
- Mothercare · cotton infantwear garments
- Target · cotton infantwear garments
- The William Carter Company · cotton infantwear garments
- Toys R Us / Babies R Us · cotton infantwear garments
- Walmart · cotton infantwear garments
About
What the company is, from our own records: where it sits, where it makes things, and what it is made of.
- Sector
- Textiles
- Industry
- Garments & Apparels
- Classification
- Textiles › Garments & Apparels
- ISIN
- INE602G01020
Plants
- Kitex Apparel Parks - Sitarampur unit
- Kitex Apparel Parks - Warangal unit · Warangal, Telangana
- Kitex integrated manufacturing facility, Kizhakkambalam
News impact
Big market events that reach Kitex Garments Limited, and how the effect spreads.
1 Oct, 00:12 IST · Market event · medium impact
RoSCTL scheme extended by three months till December 31 for textile exporters
The government kept tax refunds for textile exporters till December 31, helping exporters like Sportking and Trident protect margins, with no direct losers.
Who it hits first
- The government extended the RoSCTL export refund scheme by three months till December 31, so textile exporters keep getting refunds of hidden taxes built into their costs.
- Gokaldas Exports and Kitex Garments, which stitch clothes for foreign brands, keep a tax refund on every export order for three more months.
- Welspun Living and Trident, which make bedsheets and towels for world retailers like IKEA, keep their export margins instead of losing the refund.
- Vardhman Textiles and K.P.R. Mill, which spin yarn and make fabric for export, also keep the refund benefit through December.
Who may gain
- Sportking India (spins yarn, 50% exports) — keeps refunds on half its sales
- Vardhman Textiles (spins yarn, 47% exports) — keeps tax refunds on export sales
- Trident (towels and bedsheets, 53% exports) — keeps refunds on majority-export sales
- Welspun Living (bedsheets, 41% exports) — keeps refunds, though the promoter sold shares recently
- K.P.R. Mill (yarn and garments) — keeps refunds on export orders
- Gokaldas Exports and Kitex Garments (garment stitchers) — keep refunds but weak finances cap the cheer
- Jindal Worldwide (90% exports) and Nitin Spinners (65.2% exports) — top exporters keep refunds
Along the supply chain
Downstream
Downstream, world retailers such as IKEA, which buys bedsheets from Welspun Living and Trident, keep getting Indian goods at steady prices, so no price or supply change for foreign shoppers.
Upstream
Upstream, yarn and fabric suppliers such as Sanathan Textiles and GHCL Textiles, which sell thread and cloth to exporters like Welspun Living, see steady orders as exporters keep shipping through December.
Where demand moves
Business
Foreign clothing brands keep placing orders with Indian stitchers and mills, and the refund keeps Indian prices competitive, so export orders hold up through December.
Capital
Investors are likely to add to shares of high-export textile mills such as Vardhman, Trident and Sportking as three more months of refunds protect profits, while domestic-focused clothing sellers see little fresh interest.
How it spreads across sectors
Capital Goods
Steady exporter output keeps demand for spinning machines and looms stable through December.
Textiles
Garment, home-textile and yarn exporters keep refund margins for three more months; domestic-only sellers unaffected.
When it plays out
Immediate
Textile exporter shares edge up as the refund safety net stays till December; high-export names move first.
Medium term
Effect fades after December unless extended again; mills then face the same refund cliff in January.
Short term
Exporters ship December orders with refunds intact and book slightly better margins for the quarter.
30 Sept, 22:31 IST · Market event · medium impact
India extends RoDTEP scheme for exporters till Dec
India extended exporter duty refunds till December, so textile and engineering exporters keep a small margin cushion for one more quarter, with no clear loser.
Who it hits first
- The government extended the RoDTEP duty-refund scheme for exporters till December 31, 2026, keeping refund rates unchanged.
- Textile and engineering exporters — from Jindal Worldwide's denim to TD Power Systems' generators — keep a margin cushion for one more quarter.
- The gain is modest and short-dated: three extra months of refunds, not a new incentive.
Who may gain
- Jindal Worldwide (denim exporter, 90% export revenue) — refunds protect thin export margins
- TD Power Systems (generator exporter, 93% export revenue) — refunds on nearly all sales
- Commercial Syn Bags (bulk-bag exporter) — steadier export pricing
- Kitex Garments (infantwear exporter) — targeted relief, though losses limit the benefit
- Jash Engineering (water-equipment exporter) — lower export costs on foreign orders
Along the supply chain
Downstream
The end buyers are foreign importers of Indian garments and machinery, who may see steadier prices as exporters pass less cost through.
Upstream
Yarn and fibre makers such as Indo Rama Synthetics, which supply garment exporters, could see steadier pull if refunds keep exporter order books healthy.
Where demand moves
Business
Exporters do not gain new orders from this move; they keep a cost refund that protects margins on existing foreign sales for one more quarter.
Capital
Investors may nibble at high-export stocks like TD Power and Jindal Worldwide, but a three-month extension rarely triggers big buying.
How it spreads across sectors
Capital Goods
Mildly positive for engineering exporters; domestic-heavy names feel nothing.
Textiles
Positive but small: garment and fabric exporters keep refunds till December, cushioning margins in a weak global demand patch.
When it plays out
Immediate
Exporter stocks edge up over 1-7 days on relief that refunds continue without a gap.
Medium term
Over 1-6 months, focus shifts to whether the scheme survives past December; a lapse would reverse the benefit.
Short term
Over 1-4 weeks, exporters factor refunds into October-December pricing and shipment plans.
30 Sept, 21:00 IST · Market event · high impact
India hikes anti-dumping duty on jute goods from Bangladesh, Nepal
India put higher taxes on jute bags from Bangladesh and Nepal, helping Indian jute mills sell more while bag buyers pay more; the listed generic textile names see no direct lift.
Who it hits first
- India raised the extra import tax (anti-dumping duty) on jute bags and jute goods coming from Bangladesh and Nepal.
- Orders for jute bags should shift from foreign suppliers to Indian jute mills, lifting their sales and factory use.
- The trade-remedy office (DGTR) is also considering extra countervailing duties, which could protect local mills further.
- The 29 ranked textile names are mostly cotton, synthetic and garment makers with no jute-bag business, so they get no direct lift.
- True jute makers Cheviot Company and Gloster Limited have no fundamentals row in this pack, so no signal is emitted for them.
Who may gain
- Indian jute mills such as Cheviot Company and Gloster Limited, makers of jute bags — more orders as imported bags get costlier (no signal: no Layer 7 row).
- Jute fibre farmers — steadier demand from busy domestic mills.
Along the supply chain
Downstream
Downstream, bulk buyers of jute bags such as cement, grain and food packers (for example Birla Corporation, a cement maker, and Kohinoor Foods, a food maker) face higher bag prices.
Upstream
Upstream, jute growers and raw-jute suppliers should see steadier pull from Indian mills running at higher capacity.
Where demand moves
Business
Business demand shifts from imported jute bags to bags made by Indian mills; garment, cotton and synthetic makers see no order change.
Capital
Investment interest may tilt toward domestic jute mills rather than the ranked generic textile stocks.
How it spreads across sectors
Fast Moving Consumer Goods
Food and grain packers that buy jute bags face slightly higher packaging costs.
Forest Materials
Home to jute-bag makers Cheviot Company and Gloster Limited, which should gain sales (no signal for lack of data row).
Textiles
Jute segment gains orders; cotton, synthetic and garment makers in the ranked pool see no direct change.
Commodity angle
Commodity
jute
Move series
Note
Jute carries a demand shock from the duty, but prices are stale with no usable move, so no margin bps were available and every signal carries null commodity impact.
Shock
demand
Unit
INR/quintal
A pattern seen before
Cascade chain
- Anti-dumping duty hike → Bangladesh/Nepal jute bags costlier in India
- Costlier imports → domestic jute-mill orders and capacity use rise
- Dearer bags → cement, grain and food packers face higher packaging cost
Pattern name
China Cascade
Patterns
- China Cascade
Sectors queried
- Chemicals
- Pharma
When it plays out
Immediate
1–7 days: jute-bag import orders pause as buyers check the new duty cost; domestic mill enquiries pick up.
Medium term
1–6 months: if countervailing duties follow, local mills hold gains; otherwise imports adjust and the lift fades.
Short term
1–4 weeks: domestic mills report higher bookings and capacity use; bag buyers pass some cost onward.
Dividends, splits & big trades
Money paid out, share splits and buybacks, and big buys or sells by funds and insiders.
Dividends
| 18 Sep 2026 | unspecified | ₹0.5 |
|---|---|---|
| 10 Sep 2025 | unspecified | ₹0.5 |
| 17 Jan 2025 | bonus | ₹0 |
| 20 Sep 2024 | unspecified | ₹1.5 |
| 22 Sep 2023 | unspecified | ₹1.5 |
| 19 Aug 2022 | unspecified | ₹1.5 |
| 30 Aug 2021 | unspecified | ₹1.5 |
| 18 Feb 2020 | interim | ₹1.5 |
Splits, bonuses & buybacks
- daily-prices repair: 9 rows from NSE's archive (replace 1, delete 1, insert 7), 2016-10-30..2026-02-01 (docs/flat_day_repair.md)1× · 30 Oct 2016
Bulk & block deals
| Date | Who | Bought / sold | Shares | Price |
|---|---|---|---|---|
| 17 Jun 2026 | C K G SUPER MARKET LIMITED | SELL | 13,93,926 | ₹155.20 |
Insider trades
| Disclosed | Who | Type | Shares | Value ₹ Cr |
|---|---|---|---|---|
| 5 Oct 2026 | Saji Kurian · Designated Person | BUY | 8,000 | 0.10 |
| 5 Oct 2026 | Saji Kurian · Designated Person | BUY | 2,000 | 0.02 |
| 5 Oct 2026 | Saji Kurian · Designated Person | BUY | 1,150 | 0.01 |
| 5 Oct 2026 | Saji Kurian · Designated Person | BUY | 500 | 0.01 |
Documents
Annual reports, results presentations and earnings calls, straight from the source.
- Annual report · 2025-263 Sep 2026
- Annual report · 2024-2526 Aug 2025
Facts from company filings and exchange data. Not investment advice: nothing here tells you to buy or sell.