Virat Industries Ltd (530521)
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Virat Industries' revenue was ₹9.5 Cr (+9.8% year on year, +85.4% on the previous quarter), and net profit ₹2.1 Cr (+142.4% year on year); the operating margin was 16.0%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹9.5 | +9.8% | +85.4% |
| Operating profit | ₹1.5 | +404.3% | from loss |
| Net profit | ₹2.1 | +142.4% | +103.2% |
| EPS (₹) | 1.47 | +141.0% | +104.2% |
| Operating margin | 16.0% | — | — |
📢 Recent Corporate Announcements
Brahm Virat Industries Corporation has announced multiple strategic decisions following its October 8, 2026 board meeting. The company appointed Mr. Ranju Das (ex-lululemon Chief AI and Technology Officer) as External Advisor to explore AI opportunities across verticals. Additionally, the Board granted in-principle approval to evaluate acquiring promoter group entity Brahm Precision Materials Private Limited, while CFO Bhavik Maisuria has resigned effective December 31, 2026. The company also noted proposed investments into hospitality and lifestyle in regions including the Middle East, North America, and Europe through a subsidiary.
- CFO Bhavik Maisuria resigned via letter dated 30.09.2026, effective 31st December, 2026 to pursue studies abroad
- Appointed Ranju Das as External Advisor with potential future executive appointment subject to approvals
- In-principle authorization to evaluate acquiring Brahm Precision Materials Private Limited, a promoter group entity
- Board meeting commenced at 04.45 P.M. and concluded at 05.40 PM on October 8, 2026
Brahm Virat Industries Corporation Limited (formerly Virat Industries Limited) has scheduled a Board of Directors meeting on October 8, 2026. The meeting will discuss business operations, strategic initiatives, management, and future growth opportunities. The company operates in the garment sector with TTM revenue of ₹28 Cr and a market cap of ₹591 Cr. The intimation gives very short notice of one day prior to the scheduled meeting.
- Board meeting scheduled for Thursday, 8th October 2026 via video conferencing
- Intimation sent to the exchange on 7th October 2026
- Agenda includes strategic initiatives, management, and future growth opportunities
- Company formerly known as Virat Industries Limited (BSE Scrip: 530521)
Brahm Virat Industries Corporation Limited has announced the resignation of its Chief Financial Officer (CFO) and Key Managerial Personnel, Mr. Bhavik Maisuria, citing personal reasons. His resignation will become effective at the close of business hours on December 31, 2026, giving a three-month transition window. The micro-cap garment manufacturer (market cap of Rs 591 Cr, TTM revenue of Rs 28 Cr) will need to appoint a successor to oversee its finance operations.
- CFO and KMP Bhavik Maisuria tenders resignation due to personal reasons
- Cessation takes effect from the close of business hours on December 31, 2026
- Transition period spans 3 months from intimation date of September 30, 2026
- CFO will also cease to be authorized for SEBI Regulation 30 materiality disclosures on December 31, 2026
Brahm Virat Industries Corporation Limited has announced the resignation of its Chief Financial Officer (CFO) and Key Managerial Personnel, Mr. Bhavik Maisuria, citing personal reasons. His resignation will become effective at the close of business hours on December 31, 2026, giving a three-month transition window. The micro-cap garment manufacturer (market cap of Rs 591 Cr, TTM revenue of Rs 28 Cr) will need to appoint a successor to oversee its finance operations.
- CFO and KMP Bhavik Maisuria tenders resignation due to personal reasons
- Cessation takes effect from the close of business hours on December 31, 2026
- Transition period spans 3 months from intimation date of September 30, 2026
- CFO will also cease to be authorized for SEBI Regulation 30 materiality disclosures on December 31, 2026
Virat Industries Ltd has submitted a revised Annual Report for FY 2025-26 under Regulation 34 of SEBI LODR. The revision rectifies typographical and rounding-off errors in comparative figures for FY 2024-25, alongside editorial adjustments. The company confirmed these modifications have zero impact on reported revenues, profits, net worth, or cash flows. The filing also documents the completion of a preferential allotment of 95,99,999 shares at Rs 104 each to Mr. Bhavook Tripathi, which expanded paid-up equity to Rs 14.52 Cr.
- Revised FY26 Annual Report submitted to correct typographical and rounding errors in FY25 comparative figures
- Confirmed zero financial impact on reported revenue, profits, net worth, or cash flows
- Notes preferential allotment of 95,99,999 shares at Rs 104 per share to Bhavook Tripathi completed during the period
- Paid-up equity capital stands expanded from Rs 4.92 Cr to Rs 14.52 Cr
- Notice includes rescission of special resolution to change company name, keeping it as Virat Industries Limited
Virat Industries released the transcript of its investor meet, outlining strategic growth initiatives following its integration into the Brahmcorp Group. Average selling price per pair rose ~47% over two years from Rs 42.60 in March 2025 to Rs 63.00 as of June 2026, driven by higher-value product mix. The company launched direct-to-consumer brand 'Lord Walker' targeting 1 million pairs in CY2027 across e-commerce and quick-commerce channels. Additionally, the operationalized India-UK FTA eliminates import duty on sock exports from 11% to 0%, strengthening export competitiveness across its 9 million pairs annual capacity.
- Average realization rose ~47% over two years to Rs 63.00 per pair in June 2026 from Rs 42.60 in March 2025.
- Launched domestic D2C brand 'Lord Walker' with an initial target of ~1 million pairs in CY2027.
- India-UK FTA operationalized on July 15 eliminated import duties into the UK from 11% to 0%.
- Company operates 145 machines with an annual capacity of 9 million pairs.
Virat Industries has detailed a proposed strategic investment of ₹95 crore to acquire a 70.28% controlling stake (3,51,85,185 shares at ₹27 each) in Brahm LifeStyle Products Private Limited (BLPPL). The acquisition is a Related Party Transaction, as 93.27% of BLPPL is currently owned by promoter-group entity Brahm Precision Materials Private Limited. The ₹95 crore transaction is highly material, representing ~339% of Virat's TTM revenue (₹28 crore) and ~72.5% of net worth (₹131 crore), and will be funded via a proposed preferential issue. The deal pivots the company from sock manufacturing into broad lifestyle, F&B, cosmetics, and wellness verticals.
- Proposed investment of ₹95 crore for a 70.28% controlling stake (3,51,85,185 shares at ₹27/share) in BLPPL.
- Related Party Transaction: 93.27% of BLPPL's share capital is held by promoter-group entity Brahm Precision Materials Pvt Ltd.
- Deal size of ₹95 crore is ~3.4x the company's TTM revenue of ₹28 crore and ~72.5% of net worth (₹131 crore).
- Funding planned through a preferential issue of Virat Industries; target closing timeline is ~4 months.
Virat Industries has presented a proposal to acquire a 70.28% controlling stake in Brahm LifeStyle Products Private Limited (BLPPL) for ₹95 crore. The transaction involves subscribing to 3,51,85,185 equity shares of BLPPL at ₹27 per share via a preferential allotment, funded via a proposed preferential issue of Virat Industries. This represents a significant related-party transaction, as 93.27% of BLPPL is currently owned by promoter entity Brahm Precision Materials Private Limited. The transaction size of ₹95 crore is massive compared to Virat's TTM revenue of ₹28 crore (approx. 339%) and represents ~72.5% of its net worth (₹131 crore).
- Proposed ₹95 crore investment to acquire a 70.28% controlling stake (3,51,85,185 shares at ₹27 each) in BLPPL.
- Transaction is a Related Party Transaction; 93.27% of BLPPL is held by promoter-group entity Brahm Precision Materials Pvt Ltd.
- Funding planned through proceeds of a proposed preferential issue of Virat Industries Limited.
- Proposed renaming of Virat Industries Limited to Brahm Virat Industries Corporation Limited.
- Expected completion timeline is ~4 months, subject to regulatory and shareholder approvals.
Virat Industries Ltd announced that its equity shares (ISIN: INE467D01017) have been admitted to dealings on the National Stock Exchange (NSE) under the 'Permitted to Trade' (PTT) category, effective August 17, 2026. The listing continues exclusively on BSE Limited, with trading now enabled on the NSE capital market segment pursuant to NSE circular 1355/2026. A total of 14,523,339 equity shares of face value Rs 10 each are eligible for trading in market lots of 1 share under symbol VIRAT.
- NSE circular no. 1355/2026 notified trading admittance effective August 17, 2026
- Company shares admitted under 'Permitted to Trade' (PTT) category while remaining listed on BSE
- Trading admitted for 14,523,339 equity shares with a face value of Rs 10 each
- Market lot size set at 1 share under symbol VIRAT
Virat Industries Limited has received approval from the Registrar of Companies (Central Registration Centre) on August 18, 2026, for the alteration of the Object Clause in its Memorandum of Association. The alteration follows a special resolution approved by shareholders at the Annual General Meeting held on August 06, 2026. Consequently, the company's Corporate Identification Number (CIN) has changed from L29199GJ1990PLC014514 to L64200GJ1990PLC014514. This is a procedural corporate update without immediate financial impact.
- Shareholders approved the alteration of the Object Clause via Special Resolution on August 06, 2026
- Registrar of Companies approved the altered MOA on August 18, 2026
- Company Corporate Identification Number (CIN) changed from L29199GJ1990PLC014514 to L64200GJ1990PLC014514
- Approval granted under Section 13(1) of the Companies Act, 2013
Virat Industries has scheduled a conference call with analysts and investors on August 21, 2026, at 17:00 IST. The meeting will discuss a proposal for the acquisition of a stake in Brahm Lifestyle Products Private Limited. The discussion will be led by Managing Director Adi F. Madan and Non-Executive Director Bhavook C. Tripathi. Financial terms, stake size, and valuation of the proposed acquisition were not disclosed in the intimation.
- Conference call scheduled for August 21, 2026, at 17:00 hrs IST.
- Call agenda centers on the proposed acquisition of a stake in Brahm Lifestyle Products Private Limited.
- Management representation includes Managing Director Adi F. Madan and Non-Executive Director Bhavook C. Tripathi.
- Acquisition stake percentage, consideration, and timeline remain not disclosed.
Virat Industries Ltd has scheduled an investor meeting call on Friday, August 21, 2026, at 17:00 hrs IST to discuss a proposal for acquiring a stake in Brahm Lifestyle Products Private Limited. The specific transaction value, target financials, and stake size have not been disclosed in this intimation. With a TTM revenue base of ₹28 Cr and net worth of ₹131 Cr, any sizable acquisition could materially influence the company's growth trajectory and product portfolio.
- Investor call scheduled for Friday, August 21, 2026, at 17:00 hrs IST
- Agenda: Discuss the proposal for acquisition of a stake in Brahm Lifestyle Products Private Limited
- Meeting link, presentation, and access credentials to be shared separately
- Group investor call format under Regulation 30 of SEBI LODR Regulations
Virat Industries has approved the acquisition of a 70.28% controlling stake in Brahm Lifestyle Products Private Limited (BLPPL) for ₹95 crore. This is a major transaction for the company, representing approximately 352% of its TTM revenue and 72.5% of its net worth. The target, BLPPL, is a promoter group entity involved in wellness, lifestyle, and hospitality, with a FY26 turnover of ₹4.94 crore. The deal is a related-party transaction and is expected to close within four months, subject to shareholder and regulatory approvals.
- Acquisition of 70.28% equity stake for a total consideration of ₹95 crore
- Target company turnover of ₹4.94 crore in FY26, implying an acquisition price of ~19x sales
- Transaction value represents ~72.5% of Virat Industries' current net worth of ₹131 crore
- Acquisition price set at ₹27 per equity share based on a valuation report
- Target entity BLPPL is 93.27% owned by the promoter group, making this a Related Party Transaction
Virat Industries has approved the acquisition of a 70.28% stake in Brahm Lifestyle Products Private Limited (BLPPL) for approximately Rs 95 crore. This is a significant related-party transaction as the target is owned by the promoter group. The acquisition cost is massive relative to the company's size, representing ~351% of its TTM revenue and ~72% of its net worth. BLPPL is a diversified entity involved in wellness, hospitality, and real estate, reporting a modest turnover of Rs 4.94 crore in FY26.
- Proposed acquisition of 70.28% equity stake in Brahm Lifestyle Products for Rs 95 crore
- Target company turnover of Rs 4.94 crore in FY26, implying a high acquisition multiple
- Acquisition cost represents ~351% of Virat Industries' TTM revenue of Rs 27 crore
- Transaction is a Related Party Transaction as the target is owned by the Promoter Group
- Expected completion timeline of 4 months, subject to shareholder and regulatory approvals
Virat Industries has approved the acquisition of a 70.28% controlling stake in Brahm Lifestyle Products Private Limited (BLPPL), a promoter group entity, for approximately ₹95 crore. The transaction is highly material, representing ~72.5% of Virat's net worth and over 3.5x its TTM revenue. BLPPL is a wellness and lifestyle company with a FY26 turnover of ₹4.94 crore, suggesting a high valuation multiple for the acquisition. As a Related Party Transaction, it requires shareholder approval and is expected to close within four months.
- Acquisition of 70.28% stake in Brahm Lifestyle Products for a cash consideration of ₹95 crore
- Target company turnover of ₹4.94 crore in FY26, implying an acquisition cost of ~19x sales
- Transaction value represents approximately 72.5% of Virat Industries' total net worth of ₹131 crore
- Target entity is 93.27% owned by the Promoter Group (Brahm Precision Materials Private Limited)
- Acquisition price set at ₹27 per equity share based on an independent valuation report
Financial Performance
Revenue Growth by Segment
Total Income decreased by 2.21% YoY to INR 3,267.23 Lakh from INR 3,341.17 Lakh. Export sales, the primary revenue driver, declined by 2.07% to INR 2,825.52 Lakh from INR 2,885.17 Lakh.
Geographic Revenue Split
Rest of World contributes 52.8% (INR 1,583.63 Lakh), Europe contributes 41.4% (INR 1,241.89 Lakh), and India contributes 5.8% (INR 174.27 Lakh) of total revenues.
Profitability Margins
Net Profit Margin improved from 2.47% to 3.02% YoY, with Net Profit After Tax rising 19.2% to INR 90.45 Lakh. However, Operating Profit Margin declined from 7.35% to 6.54% due to lower operational efficiency.
EBITDA Margin
Operating EBITDA Margin fell to 7.56% in FY 2024-25 from 8.26% in FY 2023-24, reflecting a 10.64% decrease in absolute EBITDA to INR 226.81 Lakh.
Credit Rating & Borrowing
The company maintains a very low Debt-Equity ratio of 0.02, down from 0.03 YoY, indicating minimal reliance on external borrowings. Specific interest rates are not disclosed.
Operational Drivers
Raw Materials
Cotton yarn is the primary raw material; spun polyester yarn is identified as a lower-cost substitute and competitive threat. Specific cost percentages are not disclosed.
Capacity Expansion
Current production reached 69.80 Lakh pairs of knitted products in FY 2024-25, a 6.7% increase from 65.42 Lakh pairs in FY 2023-24. Planned expansion details are not disclosed.
Manufacturing Efficiency
Knitting production increased by 6.7% to 69.80 Lakh pairs, though pairs dispatched fell by 8.5% to 70.41 Lakh pairs. ROCE declined from 10.15% to 8.40%.
Strategic Growth
Growth Strategy
The company aims to achieve growth by leveraging the 19% increase in the Union Budget allocation for the Ministry of Textiles, participating in the 'Cotton Mission,' and focusing on training its 150-member workforce to meet the quality standards of reputed global brands.
Products & Services
Knitted socks and readymade textile garments, measured in pairs.
Brand Portfolio
Virat Industries.
Market Expansion
The company is targeting increased exports to reputed brands by improving manufacturing-level training and operational excellence.
External Factors
Industry Trends
The textile industry is seeing a 10% growth in readymade garment exports. India is becoming a level-field player with the EU, supported by government initiatives like the 'Cotton Mission' and MSME support.
Competitive Landscape
Competes with domestic manufacturers using cheaper polyester yarn and international competitors in the European and global markets who may benefit from lower tariffs.
Competitive Moat
The company's moat is built on a highly trained workforce of 150 employees and a strong financial position with a 5.97 current ratio and near-zero debt (0.02 D/E), ensuring long-term operational stability.
Macro Economic Sensitivity
Sensitive to global growth (projected at 3.2-3.3%) and domestic inflation; India's retail inflation declined to 3.3% in March 2025, which may stabilize domestic costs.
Consumer Behavior
There is a notable shift in local markets where consumers are opting for cheaper polyester-based innerwear over traditional cotton textiles.
Geopolitical Risks
Ongoing border tensions and global trade policy risks are cited as potential threats to economic projections and export stability.
Regulatory & Governance
Industry Regulations
Subject to a 10.6% import duty on textile products and compliance with the Companies Act 2013 and SEBI Listing Regulations.
Taxation Policy Impact
The company's effective tax rate is approximately 25.3%, with Net Profit Before Tax of INR 121.18 Lakh and Net Profit After Tax of INR 90.45 Lakh.
Legal Contingencies
The company reports compliance with all prescribed requirements of Stock Exchanges and SEBI over the last three years; no specific pending court cases or values are disclosed.
Risk Analysis
Key Uncertainties
Primary uncertainties include the persistence of high import duties (10.6%) and the potential for escalated border tensions to disrupt global trade routes.
Geographic Concentration Risk
High geographic concentration in exports, with 94.2% of revenue derived from international markets (Europe and Rest of World).
Third Party Dependencies
The company utilizes contract labor in addition to its 150 payroll employees, indicating some dependency on external labor providers.
Credit & Counterparty Risk
Debtors turnover ratio decreased from 6.51 to 5.53, suggesting a slight slowdown in receivable collections, though the current ratio remains strong at 5.97.
