M.K. Exim (India) Ltd (538890)
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, M.K. Exim's revenue was ₹27.4 Cr (+2.4% year on year, +4.1% on the previous quarter), and net profit ₹6.5 Cr (-4.4% year on year); the operating margin was 31.9%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹27.4 | +2.4% | +4.1% |
| Operating profit | ₹8.8 | -3.2% | +17.1% |
| Net profit | ₹6.5 | -4.4% | +5.3% |
| EPS (₹) | 1.61 | -4.7% | +5.2% |
| Operating margin | 31.9% | — | — |
📢 Recent Corporate Announcements
Whole-time Director and promoter group member Murli Wadhumal Dialani acquired 15,859 equity shares of M.K. Exim (India) Ltd via open market purchase on September 28, 2026. The total transaction value was Rs 11,03,000 (average price ~Rs 69.55 per share). Following this purchase, his individual holding marginally rose from 11.196% (45,19,550 shares) to 11.235% (45,35,409 shares). The transaction is minor, representing less than 0.05% of the company's Rs 227 crore market capitalization.
- Acquired 15,859 equity shares via open market on September 28, 2026
- Total transaction value stood at Rs 11,03,000
- Holding increased from 11.196% (4,519,550 shares) to 11.235% (4,535,409 shares)
- Transaction represents approximately 0.039% of total outstanding equity
Promoter and Director Murli Wadhumal Dialani acquired 15,859 equity shares (0.039% stake) of M.K. Exim (India) Ltd via an open market transaction on September 28, 2026. Following this purchase, his individual shareholding increased marginally from 11.196% (4,519,550 shares) to 11.235% (4,535,409 shares). The total holding of the promoter group (acquirer together with PACs) rose from 44.878% to 44.917% (18,131,926 shares). The total paid-up equity capital remains unchanged at Rs 40.37 crore divided into 4,03,67,250 equity shares.
- Acquired 15,859 equity shares representing 0.039% of total voting capital on September 28, 2026
- Acquisition conducted via the open market
- Individual holding increased from 4,519,550 shares (11.196%) to 4,535,409 shares (11.235%)
- Promoter group aggregate holding increased from 44.878% to 44.917% (18,131,926 shares)
- Target company's equity voting capital stands at Rs 40,36,72,500 across 4,03,67,250 shares of Rs 10 each
M.K. Exim (India) Ltd announced the voting results and Scrutinizer's Report for its 34th Annual General Meeting held on September 25, 2026. All proposed resolutions were passed with the requisite majority, including the adoption of audited financial statements, declaration of dividend on equity shares, and re-appointment of directors. Shareholders also approved material related-party transactions with entities including Manish Overseas, Laaj International, Lewanna, and Kolba Farm Fab Pvt Ltd, each securing 97.64% approval among valid votes cast. Promoter group votes (18,030,187 votes) were treated as invalid/not counted on the related party resolutions.
- Resolution 1 (Adoption of Financial Statements) and Resolution 2 (Dividend declaration) passed with 100.00% valid votes in favor (28,839,978 votes).
- Material Related Party Transactions (Resolutions 6, 7, 8, 9) approved with 97.64% votes in favor (10,555,183 votes) and 2.36% against (254,653 votes).
- Promoter group interest led to 18,030,187 promoter votes being excluded/invalidated for RPT approvals.
- Continuation of Whole-time Director Murli Wadhumal Dialani past 70 years approved with 28,837,948 votes in favor (99.99%).
M.K. Exim (India) Ltd announced the voting results and Scrutinizer's Report for its 34th Annual General Meeting held on September 25, 2026. All proposed resolutions were passed with the requisite majority, including the adoption of audited financial statements, declaration of dividend on equity shares, and re-appointment of directors. Shareholders also approved material related-party transactions with entities including Manish Overseas, Laaj International, Lewanna, and Kolba Farm Fab Pvt Ltd, each securing 97.64% approval among valid votes cast. Promoter group votes (18,030,187 votes) were treated as invalid/not counted on the related party resolutions.
- Resolution 1 (Adoption of Financial Statements) and Resolution 2 (Dividend declaration) passed with 100.00% valid votes in favor (28,839,978 votes).
- Material Related Party Transactions (Resolutions 6, 7, 8, 9) approved with 97.64% votes in favor (10,555,183 votes) and 2.36% against (254,653 votes).
- Promoter group interest led to 18,030,187 promoter votes being excluded/invalidated for RPT approvals.
- Continuation of Whole-time Director Murli Wadhumal Dialani past 70 years approved with 28,837,948 votes in favor (99.99%).
Promoter and Director Mr. Murli Wadhumal Dialani acquired 13,920 equity shares (0.034% of total share capital) of M.K. Exim (India) Ltd via an open market transaction on September 25, 2026. Following the acquisition, his individual shareholding increased marginally from 11.162% (4,505,630 shares) to 11.196% (4,519,550 shares). The total holding of the promoter and Persons Acting in Concert (PAC) rose from 44.844% to 44.878% (18,116,067 shares). The transaction reflects an immaterial equity change against the total equity capital base of 40,367,250 shares.
- Acquisition of 13,920 shares (0.034% stake) via open market on September 25, 2026
- Individual promoter holding rises from 11.162% to 11.196%
- Total Promoter and PAC holding expands from 44.844% to 44.878%
- Total voting capital unchanged at Rs 40,36,72,500 comprising 4,03,67,250 shares of Rs 10 each
Promoter and Director Mr. Murli Wadhumal Dialani acquired 13,920 equity shares (0.034% of total share capital) of M.K. Exim (India) Ltd via an open market transaction on September 25, 2026. Following the acquisition, his individual shareholding increased marginally from 11.162% (4,505,630 shares) to 11.196% (4,519,550 shares). The total holding of the promoter and Persons Acting in Concert (PAC) rose from 44.844% to 44.878% (18,116,067 shares). The transaction reflects an immaterial equity change against the total equity capital base of 40,367,250 shares.
- Acquisition of 13,920 shares (0.034% stake) via open market on September 25, 2026
- Individual promoter holding rises from 11.162% to 11.196%
- Total Promoter and PAC holding expands from 44.844% to 44.878%
- Total voting capital unchanged at Rs 40,36,72,500 comprising 4,03,67,250 shares of Rs 10 each
Promoter-director Murli Wadhumal Dialani acquired 58,025 equity shares (0.144% stake) of M.K. Exim (India) Ltd via open market purchases between September 22 and September 24, 2026. Following this transaction, his individual shareholding increased from 11.018% (4,447,605 shares) to 11.162% (4,505,630 shares). Aggregate promoter and PAC holdings rose from 44.700% to 44.844% (18,102,147 shares). At the current share price of Rs 66.5, the transaction value represents approximately Rs 0.39 crore.
- Acquisition of 58,025 equity shares representing 0.144% of total equity capital
- Individual promoter holding rises from 11.018% to 11.162%
- Total promoter and PAC holding increases from 44.700% to 44.844%
- Transaction conducted via open market between 22.09.2026 and 24.09.2026
Promoter-director Murli Wadhumal Dialani acquired 58,025 equity shares (0.144% stake) of M.K. Exim (India) Ltd via open market transactions between September 22, 2026, and September 24, 2026. Following this purchase, his individual shareholding increased to 11.162% (4,505,630 shares) from 11.018%. Combined holding of the promoter group (acquirer and PACs) reached 44.844% (18,102,147 shares) from 44.700%. The acquisition represents a minor open-market consolidation by insiders.
- Acquired 58,025 equity shares (0.144% of total share capital) via open market
- Acquisition period spanned from 22.09.2026 to 24.09.2026
- Acquirer's individual holding increased from 11.018% (4,447,605 shares) to 11.162% (4,505,630 shares)
- Total promoter and PAC holding increased from 44.700% (18,044,122 shares) to 44.844% (18,102,147 shares)
- Target company's total voting capital stands at Rs. 40,36,72,500 (4,03,67,250 equity shares of Rs. 10 each)
Whole-time Director Murli Wadhumal Dialani acquired 13,935 equity shares of M.K. Exim (India) Ltd via an open market transaction on September 18, 2026. The total purchase value was Rs 9,59,000, raising his individual stake from 10.984% (44,33,670 shares) to 11.019% (44,47,605 shares). The transaction is very small in magnitude, representing approximately 0.04% of the company's Rs 227 crore market capitalization.
- Acquisition of 13,935 equity shares via open market on September 18, 2026
- Total transaction value of Rs 9,59,000
- Holding increased from 10.984% (4,433,670 shares) to 11.019% (4,447,605 shares)
- Filing made under SEBI PIT Regulation 7(2) on September 19, 2026
Promoter and Director Mr. Murli Wadhumal Dialani acquired 13,935 equity shares (0.035% of total voting capital) of M.K. Exim (India) Ltd via the open market on September 18, 2026. Following the transaction, his individual stake rose from 10.984% (44,33,670 shares) to 11.019% (44,47,605 shares). Combined promoter and PAC holding increased marginally from 44.666% (1,80,30,187 shares) to 44.701% (1,80,44,122 shares). The transaction is valued at approximately Rs 9.3 lakh at prevailing market prices, representing a very minor creep in promoter ownership.
- Acquisition of 13,935 equity shares (0.035% stake) via open market on September 18, 2026
- Individual holding increased from 44,33,670 shares (10.984%) to 44,47,605 shares (11.019%)
- Total Promoter & PAC holding increased from 1,80,30,187 shares (44.666%) to 1,80,44,122 shares (44.701%)
- Total share capital remains constant at 4,03,67,250 equity shares (Rs 40,36,72,500)
Director and promoter Murli Wadhumal Dialani acquired 16,414 equity shares (0.041% stake) of M.K. Exim (India) Ltd via an open market transaction on August 27, 2026. Following this purchase, his individual shareholding increased from 10.441% (42,14,725 shares) to 10.482% (42,31,139 shares). Total promoter group holding including Persons Acting in Concert (PAC) rose marginally from 44.123% (1,78,11,242 shares) to 44.164% (1,78,27,656 shares).
- Acquired 16,414 equity shares representing 0.041% of total paid-up share capital on August 27, 2026
- Individual shareholding of Murli Wadhumal Dialani increased from 10.441% to 10.482%
- Total promoter and PAC holding increased from 44.123% (1,78,11,242 shares) to 44.164% (1,78,27,656 shares)
- Total paid-up voting equity capital remains unchanged at Rs 40.37 Cr comprising 4,03,67,250 equity shares of Rs 10 each
Promoter and Director Murli Wadhumal Dialani acquired 16,414 equity shares (0.041% of total voting capital) of M.K. Exim (India) Ltd through open market purchases on August 27, 2026. Following this transaction, his individual stake rose from 10.441% (42,14,725 shares) to 10.482% (42,31,139 shares). The total holding of the promoter and PAC group increased marginally from 44.123% to 44.164% (1,78,27,656 shares). The total paid-up share capital stands at Rs 40.37 crore across 4,03,67,250 equity shares.
- Acquired 16,414 equity shares (0.041% stake) via the open market on August 27, 2026
- Individual holding increased from 10.441% to 10.482% (4,231,139 shares)
- Combined promoter & PAC holding moved up from 44.123% to 44.164% (17,827,656 shares)
- Total voting capital remains at Rs 40,36,72,500 consisting of 4,03,67,250 shares
Promoter and Director Mr. Murli Wadhumal Dialani has acquired 48,842 equity shares (0.121% stake) of M.K. Exim (India) Ltd via open market transactions between August 24, 2026, and August 26, 2026. Following this transaction, his individual shareholding increased to 10.441% (4,214,725 shares) from 10.320% (4,165,883 shares). The collective promoter group holding (with Persons Acting in Concert) increased from 44.002% (17,762,400 shares) to 44.123% (17,811,242 shares). Total equity base remains unchanged at 4,03,67,250 equity shares.
- Acquisition of 48,842 equity shares (0.121% of total equity) via open market
- Transaction executed between 24.08.2026 and 26.08.2026
- Individual promoter holding rises from 4,165,883 shares (10.320%) to 4,214,725 shares (10.441%)
- Total promoter group holding expands to 44.123% (17,811,242 shares) from 44.002%
Promoter and Director Murli Wadhumal Dialani acquired 48,842 equity shares (0.121% of the total share capital) of M.K. Exim (India) Ltd via open market transactions between August 24, 2026, and August 26, 2026. Following this purchase, his individual shareholding increased from 10.32% (41,65,883 shares) to 10.44% (42,14,725 shares). Total promoter group holding along with Persons Acting in Concert (PAC) rose marginally from 44.002% (17,762,400 shares) to 44.123% (17,811,242 shares). Total paid-up equity capital remains unchanged at Rs 40.37 crore comprising 4,03,67,250 shares.
- Promoter acquired 48,842 equity shares representing 0.121% voting rights via open market
- Acquisition took place between August 24, 2026, and August 26, 2026
- Murli Dialani's direct individual stake increased from 10.32% to 10.44% (42,14,725 shares)
- Total promoter group holding including PAC rose from 44.002% to 44.123% (17,811,242 shares)
- Total share capital stands at Rs 40.37 Cr across 4,03,67,250 equity shares
Promoter and Director Murli Wadhumal Dialani acquired 14,958 equity shares (0.037% stake) of M.K. Exim (India) Ltd through open market transactions between August 19, 2026, and August 21, 2026. Following this transaction, his individual holding increased from 10.283% to 10.320%. The aggregate promoter group shareholding increased marginally from 43.965% (17,747,442 shares) to 44.002% (17,762,400 shares). Total paid-up equity capital remains unchanged at 4,03,67,250 shares (Rs 40.37 Cr).
- Acquired 14,958 shares (0.037% stake) via open market purchases from Aug 19 to Aug 21, 2026
- Individual promoter holding increased from 10.283% (4,150,925 shares) to 10.320% (4,165,883 shares)
- Total promoter group holding edged up from 43.965% to 44.002% (17,762,400 shares)
- Total voting share capital remains unchanged at 4,03,67,250 equity shares of Rs 10 each
Financial Performance
Revenue Growth by Segment
Total revenue from operations reached INR 92.69 Cr in FY 2024-25, representing a marginal growth of 0.34% YoY from INR 92.38 Cr. The company maintained a balanced trajectory across its Textile and FMCG segments, though specific percentage splits per segment were not disclosed.
Geographic Revenue Split
The company serves a broad consumer base across both domestic and international markets; however, the specific percentage contribution from each region is not disclosed in the available documents.
Profitability Margins
Net Profit Ratio improved to 19% in FY 2024-25 from 17% in the previous year, a 17.02% YoY increase. Profit Before Tax (PBT) margin stood at 26.5% (INR 24.61 Cr) and Profit After Tax (PAT) margin at 19.4% (INR 17.99 Cr).
EBITDA Margin
EBITDA margin was approximately 27.3%, based on a Profit Before Financial expenses & Depreciation of INR 25.33 Cr against revenue of INR 92.69 Cr.
Capital Expenditure
Additions to Property, Plant and Equipment (PPE) during FY 2024-25 totaled INR 0.088 Cr, primarily consisting of vehicles (INR 0.076 Cr) and computers (INR 0.012 Cr).
Credit Rating & Borrowing
The company maintains a very low Debt-Equity Ratio of 0.01, which decreased by 26.62% YoY. Finance costs for the year were INR 0.097 Cr.
Operational Drivers
Raw Materials
Key raw materials include cotton and synthetic fiber. Specific percentage of total cost for each was not disclosed.
Capacity Expansion
Current installed capacity and planned expansion timelines were not disclosed.
Raw Material Costs
Raw material price volatility, particularly in cotton and synthetic fibers, is cited as a major challenge to cost stability. The government's Quality Control Orders (QCO) have impacted material availability.
Manufacturing Efficiency
The company focuses on operational efficiency and innovation-led product initiatives. Capacity utilization metrics were not disclosed.
Logistics & Distribution
The company aims to optimize supply chain management to reduce lead times and mitigate raw material risks.
Strategic Growth
Growth Strategy
Growth is targeted through operational efficiency, innovation-led product initiatives, and expanding market reach in both Textiles and FMCG. The company is also focusing on sustainability and digitization to meet evolving consumer preferences.
Products & Services
Textile products include fabrics, garments, and home textiles. FMCG products include personal care, hygiene, and food items.
New Products/Services
The company is focusing on innovation-led product initiatives, though specific expected revenue contributions from new launches were not disclosed.
Market Expansion
Market expansion plans focus on expanding reach across domestic and international markets.
Strategic Alliances
The company holds a 48.98% interest in Kolba Farm Fab Private Limited, an associate company.
External Factors
Industry Trends
The FMCG industry in India is projected to reach USD 1,108.48 billion by 2033. The textile industry is shifting toward sustainable practices like zero-liquid discharge (ZLD) and global certifications (GOTS, OEKO-TEX).
Competitive Landscape
The industry is highly fragmented, with over 80% of units being MSMEs, leading to challenges in scalability.
Competitive Moat
Moat is derived from a diversified business model spanning two essential sectors (Textiles and FMCG) and a strong financial position with a Debt-Equity ratio of 0.01.
Macro Economic Sensitivity
Operations are sensitive to economic developments within India, demand/supply conditions, and changes in government regulations.
Consumer Behavior
Consumer behavior is evolving toward sustainability, digitization, and lifestyle-oriented products.
Geopolitical Risks
The company is subject to market price fluctuations in both domestic and overseas markets.
Regulatory & Governance
Industry Regulations
Key regulations include Quality Control Orders (QCO) for raw materials and government schemes like PLI (INR 10,683 Cr allocation for MMF), SAMARTH for skill development, and MITRA parks for infrastructure.
Environmental Compliance
The company focuses on environmental standards including zero-liquid discharge (ZLD) and certifications like GOTS and OEKO-TEX.
Taxation Policy Impact
The effective tax rate for FY 2024-25 was approximately 26.9%, with a total tax expense of INR 6.62 Cr on a PBT of INR 24.61 Cr.
Legal Contingencies
The company notes that litigation can influence operations, but specific pending court cases or case values were not disclosed.
Risk Analysis
Key Uncertainties
Key risks include raw material price volatility, labor shortages in advanced manufacturing, and supply chain fragmentation.
Technology Obsolescence Risk
The company is investing in modern textile manufacturing techniques and data analytics to mitigate technology-related risks.
Credit & Counterparty Risk
Trade receivables turnover ratio improved by 21.71% to 5.75, indicating better receivables management. Total trade receivables stood at INR 17.92 Cr.
