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Mafatlal Industries Ltd (500264)

📊 BSE: 500264 🏢 Other Textile Products 📢 Latest filing: 16 Oct 2026 📝 Analysis written: 13 Nov 2025

Latest quarterly results (Q1 FY27)

In its latest reported quarter, Q1 FY27, Mafatlal Industries' revenue was ₹943 Cr (-24.0% year on year, +6.7% on the previous quarter), and net profit ₹15.0 Cr (-67.4% year on year); the operating margin was 1.9%.

Q1 FY27 (₹ Cr)	Value	YoY vs Q1 FY26	QoQ
Revenue	₹943	-24.0%	+6.7%
Operating profit	₹18.0	-58.1%	+80.0%
Net profit	₹15.0	-67.4%	-16.7%
EPS (₹)	2.03	-68.0%	-18.5%
Operating margin	1.9%	—	—

Full quarterly financials → Results calendar →

📢 Recent Corporate Announcements

Mafatlal Industries Signs MoU to Supply Combat Uniform Fabric to AFWWA (Local)

🟡 NEUTRAL ⭐ 4/10

OTHER 📅 16 Oct 2026, 06:25 PM

Mafatlal Industries Limited has entered into a Memorandum of Understanding (MoU) with the Air Force Wives Welfare Association (Local), Air Force Station New Delhi. Under the agreement, the company will supply fabric for combat uniforms adhering to specifications set by the Indian Air Force. The company did not disclose the financial order value, volume, or contract tenure in the press release. With Mafatlal's TTM revenue standing at ₹3,574 crore, the revenue contribution remains unquantifiable without financial details.

Signed MoU with Air Force Wives Welfare Association (Local), Air Force Station New Delhi
Agreement covers supply of combat uniform fabric per Indian Air Force specifications
Contract value, supply volume, and execution timeline were not disclosed
Aligns with strategic objective to expand presence in specialized uniforms, adding to its 120+ years textile legacy

💡 Track subsequent quarterly disclosures to assess whether this agreement leads to quantifiable commercial order inflows or revenue contribution.

CARE Upgrades Mafatlal Industries' Long-Term Rating to CARE A- / Stable

🟢 POSITIVE ⭐ 9/10

OTHER 📅 09 Oct 2026, 11:25 AM

CARE Ratings has upgraded Mafatlal Industries Limited's long-term bank facilities rating to CARE A- (Stable) from CARE BBB+ (Stable) and short-term rating to CARE A2+ from CARE A2. The rating revision covers total bank facilities of ₹420 crore (including long-term/short-term facilities of ₹199.08 crore, long-term of ₹129.92 crore, and short-term of ₹91.00 crore). CARE cited a ~40% revenue CAGR from FY23 to FY26 reaching ₹3,871 crore, sustained PBILDT margins of 2-2.5%, and an unexecuted order book of ~₹890 crore as of June 30, 2026. The company also holds ~₹130 crore in free cash and liquid investments alongside a ₹388 crore investment in promoter group firm NOCIL Limited.

Long-term bank facilities upgraded to CARE A-; Stable from CARE BBB+; Stable across ₹329 crore of long-term/combined facilities
Short-term bank facilities upgraded to CARE A2+ from CARE A2 across ₹290.08 crore of short-term/combined facilities
Company revenue grew at ~40% CAGR over FY23-FY26 to ₹3,871 crore, supported by textiles and digital infrastructure
Unexecuted confirmed order book stood at ~₹890 crore as of June 30, 2026 (~25% of TTM revenue)
Liquidity backed by ~₹130 crore in free cash and liquid investments, plus listed NOCIL shares valued at ~₹388 crore

💡 Track whether lower borrowing costs materialize in upcoming quarters and monitor order conversion from the ₹890 crore backlog, particularly in higher-margin digital infrastructure.

Mafatlal Industries Schedules Virtual Analyst & Investor Group Meeting for August 27, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 19 Aug 2026, 06:43 PM

Mafatlal Industries has informed the exchanges about an upcoming virtual group meeting with analysts and institutional investors scheduled for August 27, 2026, at 4:00 PM IST onwards. The company stated that officials will only refer to publicly available documents during discussions and no unpublished price-sensitive information (UPSI) will be shared. This represents a standard compliance intimation under Regulation 30 of SEBI LODR Regulations.

Virtual group meeting with analysts and institutional investors scheduled for August 27, 2026, from 4:00 PM onwards
Company clarified that only publicly available information will be discussed and no UPSI will be shared
Meeting intimation submitted pursuant to Regulation 30 read with Schedule III, Part A of SEBI LODR Regulations

💡 Track post-meet disclosures or presentation filings, if any, uploaded to stock exchanges following the August 27 interaction.

Rs 890 Cr Order Book: Mafatlal Industries Q1FY27 Revenue Drops 24% Amid Portfolio Realignment

🔴 NEGATIVE ⭐ 6/10

EARNINGS 📅 07 Aug 2026, 06:21 PM

Mafatlal Industries reported a 24% YoY decline in Q1FY27 revenue to Rs 942.5 Cr, primarily driven by a strategic 41.8% reduction in low-margin Consumer Durables business. Operating EBITDA fell 50% YoY to Rs 23.5 Cr, with margins contracting from 3.8% to 2.5%. A bright spot was the Digital Infrastructure segment, which grew 543.5% YoY to Rs 42.0 Cr. The company maintains a total order book of Rs 890 Cr, representing approximately 23% of its TTM revenue, as it pivots toward higher-margin institutional segments.

Total order book stands at Rs 890 Cr, with Textiles accounting for Rs 480 Cr and Digital Infrastructure for Rs 110 Cr.
Digital Infrastructure revenue surged 543.5% YoY to Rs 42.0 Cr, contributing 11.1% to segment EBIT.
Consumer Durables revenue declined 41.8% YoY to Rs 494.6 Cr as the company prioritized higher-margin orders.
Net Profit (PAT) declined 68.2% YoY to Rs 14.6 Cr, impacted by a Rs 5.0 Cr deferred tax charge.
Gross debt reduced to Rs 58.8 Cr as of June 30, 2026, from Rs 60.8 Cr in March 2026.

💡 Investors should monitor the execution timeline of the Rs 890 Cr order book and whether the growth in the Digital Infrastructure segment can offset the deliberate scale-down of the Consumer Durables business to improve overall OPM from the current 2.4-2.5% levels.

Rs 890 Cr Order Book; Q1 Revenue Drops 24% YoY on Strategic Portfolio Realignment

🔴 NEGATIVE ⭐ 7/10

EARNINGS 📅 07 Aug 2026, 03:04 PM

Mafatlal Industries reported a 24% YoY decline in revenue to Rs 942.5 Cr for Q1FY27, primarily driven by a deliberate reduction in low-margin Consumer Durables business. Operating EBITDA halved to Rs 23.5 Cr from Rs 47.0 Cr in the previous year's quarter, reflecting the impact of this transition. However, the core Textiles and Digital Infrastructure segments grew 14.6% YoY, contributing Rs 447.9 Cr. The company maintains a healthy order book of Rs 890 Cr, which is approximately 23% of its TTM revenue, providing some visibility for the coming quarters.

Revenue from operations decreased to Rs 942.5 Cr in Q1FY27 from Rs 1,240.2 Cr in Q1FY26.
Total order book stands at Rs 890 Cr, with Textiles accounting for Rs 480 Cr and Digital Infrastructure for Rs 110 Cr.
Operating EBITDA fell 50% YoY to Rs 23.5 Cr, while Profit Before Tax (PBT) dropped to Rs 19.6 Cr from Rs 42.3 Cr.
Gross debt reduced slightly to Rs 58.8 Cr as of June 30, 2026, compared to Rs 60.8 Cr in March 2026.
Commissioned a 4 MWp captive solar power project at the Nadiad manufacturing unit to improve energy efficiency.

💡 Investors should monitor if the strategic shift away from low-margin consumer durables leads to an expansion in Operating Profit Margins (OPM) in the next 2-3 quarters. The execution of the Rs 110 Cr Digital Infrastructure order book is a key monitorable for segment diversification.

Mafatlal Industries Appoints Deloitte as Statutory Auditor for 5-Year Term Starting FY28

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 07 Aug 2026, 02:45 PM

Mafatlal Industries has approved the appointment of Deloitte Haskins & Sells Chartered Accountants LLP as its Statutory Auditor for a five-year term. This appointment will commence from the conclusion of the 113th Annual General Meeting (AGM) in FY 2027-28 and extend until the 118th AGM in FY 2031-32. Deloitte will succeed Price Waterhouse Chartered Accountants LLP, who are completing their mandatory 10-year rotation period (two consecutive 5-year terms). The transition ensures the company, with a TTM revenue of ₹3,871 Cr, maintains top-tier audit oversight.

Appointment of Deloitte Haskins & Sells for a 5-year consecutive term starting FY 2027-28.
Outgoing auditor Price Waterhouse completes 2 consecutive terms of 5 years each by the 113th AGM.
The company reported a TTM revenue of ₹3,871 Cr and a PAT of ₹90 Cr.
The appointment is subject to shareholder approval at the 113th AGM.

💡 Investors should note this as a routine regulatory rotation of auditors; no immediate action is required other than monitoring the formal approval in future AGM notices.

Q1 FY27 Results: Mafatlal Industries Board Approves Unaudited Financials; Auditors Issue Clean Report

🟡 NEUTRAL ⭐ 6/10

EARNINGS 📅 07 Aug 2026, 02:36 PM

Mafatlal Industries approved its unaudited standalone and consolidated financial results for the quarter ended June 30, 2026, during a board meeting on August 7, 2026. The statutory auditors, Price Waterhouse Chartered Accountants LLP, issued a limited review report with an unmodified opinion. While the specific P&L figures for the current quarter were not detailed in the cover letter, the company reported a TTM revenue of Rs 3,871 Cr and a PAT of Rs 90 Cr leading into this period. Investors should monitor how the current quarter performs against the high base of Jun 2025, which saw revenue of Rs 1,240 Cr.

Board meeting conducted on August 7, 2026, lasting 88 minutes from 12:30 PM to 1:58 PM
Statutory auditors Price Waterhouse issued an unmodified opinion on the Q1 FY27 results
Company enters the quarter with a TTM revenue of Rs 3,871 Cr and a low OPM of 2.4%
Previous year's corresponding quarter (Jun 2025) revenue was Rs 1,240 Cr, representing 32% of TTM revenue
Promoter holding remains stable at 69.3% as per latest June 2026 filings

💡 Investors should examine the full financial tables for signs of margin recovery, as the company's operating profit margin has been thin at 2.4% over the trailing twelve months.

Mafatlal Industries Approves Q1 FY27 Results; Auditors Issue Unmodified Opinion

🟡 NEUTRAL ⭐ 6/10

EARNINGS 📅 07 Aug 2026, 02:17 PM

Mafatlal Industries' Board of Directors approved the unaudited financial results for the quarter ended June 30, 2026, in a meeting held on August 7, 2026. The statutory auditors, Price Waterhouse Chartered Accountants LLP, issued a limited review report with an unmodified opinion, suggesting no significant accounting concerns. The company enters this quarter with a TTM revenue of Rs 3,871 Cr and a thin operating margin of 2.4%. Investors should focus on whether the Q1 results show margin recovery compared to the 2.0% OPM recorded in FY26.

Board meeting held on August 7, 2026, concluded at 1:58 P.M.
Approved unaudited standalone and consolidated financial results for the quarter ended June 30, 2026.
Statutory auditors Price Waterhouse provided a limited review report with an unmodified opinion.
Company maintains a TTM revenue of Rs 3,871 Cr against a market capitalization of Rs 967 Cr.

💡 Review the detailed Q1 financial tables for signs of margin expansion, as the company currently operates on a low TTM OPM of 2.4% despite high revenue throughput.

Mafatlal Industries Achieves CMMI Maturity Level 5 for Digital Infrastructure Business

🟢 POSITIVE ⭐ 5/10

OTHER 📅 06 Aug 2026, 06:59 PM

Mafatlal Industries has been appraised at Maturity Level 5 (ML5) for CMMI-DEV and CMMI-SVC, the highest possible rating in the Capability Maturity Model Integration framework. This certification specifically supports the company's strategic diversification into the Digital Infrastructure space, moving beyond its 120-year textile legacy. The appraisal, conducted by Univate Solutions, indicates that the company is operating at an 'optimizing' level with quantitative process management. While the company reported a TTM revenue of ‡3,871 Cr, this milestone is aimed at improving service delivery and scalability in its newer business verticals.

Achieved Maturity Level 5 (ML5) for both CMMI-DEV (Development) and CMMI-SVC (Services)
The appraisal validates process excellence for the company's Digital Infrastructure business segment
Mafatlal Industries maintains a legacy of 120+ years in the Indian textile industry
TTM Revenue stands at ‡3,871 Cr with a low Debt-to-Equity ratio of 0.08
The appraisal was conducted by Univate Solutions to verify 'optimizing' level performance

💡 Investors should monitor the revenue contribution and margin profile of the 'Digital Infrastructure' segment in future quarterly filings to see if this certification aids in winning higher-value contracts.

4 MWp Captive Solar Project Commissioned at Nadiad Unit for Rs 11 Cr

🟢 POSITIVE ⭐ 5/10

EXPANSION 📅 20 Jul 2026, 06:54 PM

Mafatlal Industries has commissioned a 4 MWp captive ground-mounted solar power project at its Nadiad manufacturing facility in Gujarat. The project was developed with an investment of approximately Rs 11 crore, representing about 1.1% of the company's current market capitalization. It is expected to generate 66 lakh kWh of electricity annually, which will help reduce energy costs and improve operational margins. This move is strategically significant given the company's relatively thin operating profit margin of 2.4%.

Commissioned a 4 MWp captive ground-mounted solar photovoltaic (PV) power project.
Total investment for the project stands at approximately Rs 11 crore.
Expected to generate approximately 66 lakh kWh of net usable electricity annually.
Project is located at the company's Nadiad manufacturing unit in Gujarat.
Aims to reduce dependence on conventional power and lower the carbon footprint.

💡 Investors should monitor the 'Power and Fuel' cost line item in future quarterly results to quantify the actual margin benefit from this captive power source.

4 MWp Solar Power Plant Operational at Nadiad Unit for Captive Consumption

🟢 POSITIVE ⭐ 5/10

EXPANSION 📅 20 Jul 2026, 06:09 PM

Mafatlal Industries has commissioned its 4 MWp (DC) ground-mounted solar PV power plant at the Nadiad unit, with electricity generation starting on July 19, 2026. The plant is dedicated to captive consumption, aimed at reducing energy costs which are a significant component of textile manufacturing expenses. Given the company's thin TTM operating margin of 2.4%, this initiative is a strategic move to improve cost competitiveness. The project was completed following the initial announcement made in December 2025.

4 MWp (DC) ground-mounted solar PV power plant is now operational
Electricity generation commenced on July 19, 2026
Project was originally announced on December 11, 2025
Aims to reduce energy costs to support the current 2.4% operating margin

💡 Investors should monitor the 'Power and Fuel' expenses in upcoming quarterly results to quantify the actual impact on operating margins.

Aug 7 Board Meeting to Consider Q1 FY27 Un-audited Financial Results

🟡 NEUTRAL ⭐ 3/10

BOARD_MEETING 📅 16 Jul 2026, 03:48 PM

Mafatlal Industries Ltd has scheduled a board meeting on August 7, 2026, to consider and approve the un-audited financial results for the quarter ended June 30, 2026. This is a routine regulatory filing under SEBI (LODR) Regulations. The trading window for designated persons has been closed since July 1, 2026, and will remain so until 48 hours after the results are declared. Investors should look for the actual financial performance on the meeting date.

Board meeting scheduled for August 7, 2026, to approve quarterly results
Financials cover the three-month period ended June 30, 2026
Trading window closure initiated on July 1, 2026, for designated persons
Trading window to reopen 48 hours after the results are made public on August 7, 2026

💡 Monitor the company's financial performance and management commentary on August 7, 2026, to assess operational trends for the new fiscal year.

112th AGM Notice: Mafatlal Industries Issues Annual Report for FY 2025-26

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 10 Jul 2026, 06:42 PM

Mafatlal Industries Limited has issued a formal notice regarding its 112th Annual General Meeting (AGM) and the release of its Annual Report for the financial year 2025-26. The company is specifically reaching out to shareholders whose email addresses are not registered with the company or depository participants to provide a web link for digital access. This is a standard regulatory disclosure under SEBI (LODR) Regulations 30 and 36(1)(b). No specific financial results or strategic updates were included in this cover letter.

Notice issued for the 112th Annual General Meeting of the company
Annual Report pertains to the Financial Year 2025-26
Compliance filing under SEBI Regulation 36(1)(b) for shareholder communication
Document dated 10th July 2026 as per the filing

💡 Investors should access the full Annual Report via the company's website once available to review the detailed financial performance and management's outlook for the next year.

₹3,902 Cr Total Income Reported in Mafatlal Industries FY26 Annual Report

🟡 NEUTRAL ⭐ 4/10

ROUTINE 📅 07 Jul 2026, 06:36 PM

Mafatlal Industries released its 112th Annual Report for FY 2025-26, highlighting a standalone total income of ₹3,902.15 Cr. The company is transitioning to an asset-light, product-agnostic platform, achieving an EBITDA of ₹124.85 Cr and a robust ROCE of 23.00%. With a market capitalization of ₹780.81 Cr as of March 2026, the company's annual revenue is approximately 5x its market value. The 112th Annual General Meeting is scheduled for August 7, 2026.

Total Standalone Income reached ₹3,902.15 Crores for FY 2025-26
EBITDA (excluding exceptional items) stood at ₹124.85 Crores
Return on Capital Employed (ROCE) reported at 23.00%
Maintained a low Debt-to-Equity ratio of 0.08
Market Capitalization as of March 31, 2026, was ₹780.81 Crores

💡 Investors should monitor the Management Discussion & Analysis section for progress on the 'asset-light' transition and the scaling of the new AI-enabled education infrastructure segment.

Mafatlal Industries to Hold 112th AGM on Aug 7; Proposes MD & CEO Re-appointment for 3 Years

🟡 NEUTRAL ⭐ 4/10

ROUTINE 📅 07 Jul 2026, 06:26 PM

Mafatlal Industries has scheduled its 112th Annual General Meeting (AGM) for August 7, 2026, to approve the FY26 audited financials and declare a final dividend. A key agenda item is the re-appointment of Mr. Priyavrata H. Mafatlal as MD & CEO for a three-year term starting June 1, 2026. The company also seeks to re-appoint Mr. Hrishikesh A. Mafatlal as Executive Chairman for two years. Despite being profitable for the last three years, the company noted an 'inadequacy of profits' as per Section 198 of the Companies Act for the purpose of managerial remuneration, requiring shareholder approval for proposed payments.

112th AGM scheduled for August 7, 2026, at 3:30 PM via video conferencing
Proposed re-appointment of MD & CEO for a 3-year term from June 1, 2026, to May 31, 2029
Proposed re-appointment of Executive Chairman for a 2-year term from November 1, 2026, to October 31, 2028
Cost auditor remuneration for the textile division proposed at ₹4,75,000 for FY 2026-27
Cut-off date for e-voting eligibility fixed as July 31, 2026

💡 Investors should track the announcement of the final dividend amount and review the Annual Report for details on the 'asset-light' business model transition mentioned in the notice.

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