Borana Weaves Limited (BORANA)
₹258.30 -3.71% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Borana Weaves' revenue was ₹101 Cr (+24.5% year on year, -0.2% on the previous quarter), and net profit ₹16.5 Cr (+35.0% year on year); the operating margin was 25.6%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹101 | +24.5% | -0.2% |
| Operating profit | ₹25.8 | +50.6% | -0.6% |
| Net profit | ₹16.5 | +35.0% | -3.1% |
| EPS (₹) | 6.18 | +35.8% | -4.3% |
| Operating margin | 25.6% | — | — |
BORANA delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 50.96% of the BORANA shares traded on NSE were taken to delivery, against the stock's own 20-session average of 59.85%. That is close to its usual level. Turnover was only ₹69 lakh, so a handful of trades can move this figure.
Delivery in the last 5 sessions: 55.0% · 57.6% · 60.4% · 59.0% · 51.0%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Borana Weaves Limited has reported an additional delay in commissioning its 9.9 MW Hybrid Power Project located at Kalikanagar, Gujarat. The 7.65 MW solar component and one wind turbine generator (WTG), earlier scheduled for completion by September 30, 2026, are now delayed to late October 2026. For the remaining two WTG units, completion has been pushed from end-October 2026 to end-November and end-December 2026, respectively. The delay is attributed to adverse weather, logistics challenges, and pending transmission line shutdown approvals.
- Commissioning of the 9.9 MW Hybrid Power Project faces staggered delays through December 2026
- 7.65 MW solar portion and 1 WTG delayed from September 30, 2026 to end of October 2026
- Remaining two WTG locations pushed to end of November 2026 and end of December 2026
- Delays caused by high winds, heavy monsoons, road logistics, and 33 kV/11 kV grid shutdown permissions
Borana Weaves Limited submitted the summary of proceedings of its 6th Annual General Meeting (AGM) held on September 29, 2026. A total of 8 resolutions were presented to shareholders via electronic voting, comprising 3 ordinary business items and 5 special business items. Key agenda items included the adoption of FY26 audited standalone financial statements and the revision of remuneration for top executive directors (CMD, ED & CFO, and ED & CEO). Voting results will be formally declared within two working days following the Scrutinizer's report.
- 6th Annual General Meeting concluded via VC/OAVM on September 29, 2026 (11:30 A.M. to 12:07 P.M. IST)
- 8 total resolutions tabled, including 3 ordinary and 5 special business items
- Remote e-voting was conducted from September 26 to September 28, 2026
- Special business included revision in remuneration for three key managerial personnel: CMD, ED & CFO, and ED & CEO
- Voting results to be filed with exchanges within 2 working days
Borana Weaves Limited has announced the closure of its trading window effective October 1, 2026, pursuant to SEBI Insider Trading Regulations. The closure applies to all Directors, KMPs, Designated Persons, and Insiders for the declaration of unaudited financial results for the quarter and half-year ending September 30, 2026. The window will remain closed until 48 hours following the announcement of the results. The exact date of the board meeting will be communicated separately.
- Trading window closes on October 1, 2026
- Pertains to financial results for the quarter and half-year ending September 30, 2026
- Reopens 48 hours after the declaration of unaudited financial results
- Board meeting date to declare results will be intimated in due course
Borana Weaves Limited has entered into a loan agreement on September 5, 2026, to provide an unsecured loan of up to ₹5.00 crore to Win Star Industries Private Limited. The loan carries an interest rate of 12.00% p.a. and is repayable on demand. The company confirmed that the borrower is not a related party and holds nil equity in the entity. The total loan commitment represents ~2.6% of Borana's TTM revenue of ₹196 crore.
- Loan amount of up to ₹5.00 crore sanctioned to Win Star Industries Private Limited
- Interest rate fixed at 12.00% per annum on an unsecured basis
- Repayment structured as 'on demand or earlier termination by mutual consent'
- Zero shareholding in borrower and confirmed not to be a related party transaction
Borana Weaves Limited has approved extending an unsecured loan facility of up to ₹5.00 crore to Win Star Industries Private Limited. The loan carries an interest rate of 12.00% per annum and is repayable on demand or upon mutual consent. The transaction is with a non-related third party and represents approximately 2.55% of Borana's TTM revenue of ₹196 crore. Outstanding loan amount as of the disclosure date is nil.
- Approved extending an unsecured loan facility of up to ₹5.00 crore to Win Star Industries Private Limited.
- Fixed interest rate of 12.00% p.a., repayable on demand.
- Transaction is not a related party transaction; Borana holds nil equity in the borrower.
- No collateral or security is provided against the loan facility.
Borana Weaves Limited has dispatched a web-link intimation letter to shareholders whose email addresses are not registered, pursuant to Regulation 36(1)(b) of SEBI LODR Regulations. The letter provides access to the Annual Report for FY 2025-26 and the Notice of the 6th Annual General Meeting (AGM). The AGM is scheduled to be held virtually on Tuesday, September 29, 2026, at 11:30 AM IST. This filing is a procedural compliance update with no operational or financial impact on the company.
- 6th Annual General Meeting scheduled for Tuesday, September 29, 2026, at 11:30 a.m. IST
- AGM to be conducted via Video Conferencing (VC) / Other Audio Visual Means (OAVM)
- Web links provided to access the FY 2025-26 Annual Report and AGM Notice for unregistered email shareholders
- Compliance intimation under Regulation 36(1)(b) of SEBI LODR Regulations, 2015
Borana Weaves Limited has issued the notice for its 6th Annual General Meeting (AGM) scheduled for September 29, 2026, along with its FY 2025-26 Annual Report. The voting cut-off date is set for September 22, 2026, with remote e-voting running from September 26 to September 28, 2026. The annual report highlights FY26 revenue from operations of Rs 388.59 Cr and PAT of Rs 64.61 Cr, alongside ongoing Unit 4 expansion (+192 looms, +3 texturisers) targeted for commercial production by December 2026.
- 6th Annual General Meeting scheduled for September 29, 2026, via Video Conferencing
- Record/Cut-off date for e-voting eligibility set for September 22, 2026
- Reported FY26 Revenue from operations of Rs 388.59 Cr and PAT of Rs 64.61 Cr (PAT margin of 16.63%)
- Unit 4 expansion (+192 looms, +3 texturisers) targeted for commercial production by December 2026
Borana Weaves Limited reported strong performance in Q1 FY27, with revenue from operations growing 24.5% YoY to ₹100.84 Cr and EBITDA surging 50.7% YoY to ₹25.84 Cr. Profit after tax (PAT) grew 35.0% YoY to ₹16.48 Cr, accompanied by an EBITDA margin expansion of 445 bps to 25.63%. The company is executing its Unit 4 expansion (+192 water-jet looms and +3 texturizing machines) targeted for commercial production in December 2026. Additionally, it is integrating a 23.30 MW renewable energy portfolio to lower power costs.
- Q1 FY27 revenue from operations grew 24.5% YoY to ₹100.84 Cr compared to ₹81.00 Cr in Q1 FY26
- EBITDA increased 50.7% YoY to ₹25.84 Cr with EBITDA margins expanding 445 bps to 25.63%
- PAT rose 35.0% YoY to ₹16.48 Cr with Basic & Diluted EPS increasing to ₹6.18 from ₹4.55
- Unit 4 expansion adding 192 water-jet looms and 3 texturizing machines is targeted for commercial production by December 2026
- Targeting ~23.30 MW total renewable capacity (3.55 MW operational rooftop solar plus 19.79 MW hybrid solar/wind planned in 2026)
Borana Weaves Limited has reported a revised commissioning schedule for its 9.9 MW Hybrid Power Project located at Kalikanagar, Gujarat. The project, initially scheduled for completion by August 31, 2026, is now being commissioned in two phases due to monsoon conditions and transmission line shutdown delays. The 7.65 MW solar component and one wind turbine generator (WTG) location are tentatively scheduled for commissioning by September 30, 2026, while the remaining two WTG locations are expected by October 31, 2026.
- Commissioning of the 9.9 MW Hybrid Power Project deferred from August 31, 2026
- Phase 1 comprising 7.65 MW solar component and 1 WTG location targeted for September 30, 2026
- Phase 2 comprising the remaining 2 WTG locations expected by October 31, 2026
- Delays caused by high wind speeds, heavy monsoons, and pending 33 kV/11 kV transmission line shutdowns from GETCO/PGVCL
Borana Weaves has approved a significant capacity expansion at its Unit 4, involving the installation of 192 Water Jet (WJ) looms and 3 texturizing machines. This represents a ~27% increase in weaving capacity relative to its existing base of 700+ looms. The project will be funded entirely through internal accruals, with commercial production targeted for December 2026. Additionally, the board approved a remuneration increase for three key directors to Rs 1.5 lakh per month each and re-appointed statutory auditors for a five-year term.
- Installation of 192 Water Jet (WJ) Looms and 3 Texturizing Machines at Unit 4 approved.
- Expansion represents a ~27% increase over the current base of 700+ high-tech looms.
- Commercial production for the new capacity is targeted for completion by December 2026.
- Project to be funded via internal accruals, maintaining the company's financial leverage profile.
- Remuneration for CMD, CFO, and CEO revised to Rs 1,50,000 per month each, subject to shareholder approval.
Borana Weaves has approved a significant capacity expansion at its Unit 4, involving the installation of 192 Water Jet (WJ) looms and 3 texturizing machines. This project, funded entirely through internal accruals, targets commercial production by December 2026. The board also approved the un-audited financial results for Q1 FY27 and proposed a remuneration increase for three key promoter-directors to ₹1.5 lakh per month each. This expansion aligns with the company's stated strategy to scale its weaving and technical fabric capabilities.
- Installation of 192 Water Jet (WJ) Looms and 3 Texturizing Machines at Unit 4 approved.
- Commercial production for the new capacity is targeted for completion by December 2026.
- Expansion represents a ~27% increase in loom count over the existing base of 700+ looms.
- Proposed remuneration increase for CMD, CFO, and CEO to ₹1,50,000 per month each, subject to AGM approval.
- 6th Annual General Meeting (AGM) scheduled for September 29, 2026.
Borana Weaves Limited has received a notice from the National Stock Exchange (NSE) for non-compliance with Regulation 33 (Financial Results) for the quarter ended March 31, 2026. The exchange has imposed a total fine of ₹94,400, including 18% GST, for a 16-day delay in compliance. While the financial penalty is negligible compared to the company's TTM revenue of ₹176 Cr, the notice warns of severe actions like freezing promoter shareholding or shifting the stock to the 'Z' category (Trade-for-Trade) for continued defaults.
- Fine of ₹5,000 per day imposed for a total of 16 days of non-compliance.
- Total fine payable including 18% GST (₹14,400) amounts to ₹94,400.
- Non-compliance relates specifically to Regulation 33 for the quarter ended March 31, 2026.
- NSE warned of freezing promoter shareholding if the fine is not paid within 15 days.
- Potential shifting of securities to 'Z' category if consecutive defaults occur.
Borana Weaves Limited has informed the exchanges that Mr. Jitendrakumar Rewashankar Rawal has resigned from his position as the Secretarial Auditor of the company, effective July 24, 2026. The Board of Directors formally noted the resignation during their meeting held on July 29, 2026. This follows an initial intimation provided by the company on July 24, 2026. The filing is a procedural disclosure under SEBI (LODR) Regulations, and no immediate replacement has been announced in this document.
- Resignation of Secretarial Auditor effective from July 24, 2026
- Board of Directors meeting held on July 29, 2026, to take the resignation on record
- Company maintains a TTM revenue of Rs 176 Cr and a PAT of Rs 29 Cr
- Promoter holding remains stable at 65.24% as of June 2026
Borana Weaves Limited has appointed Mr. Ishant Jain as the Company Secretary, Compliance Officer, and Key Managerial Personnel (KMP) effective July 29, 2026. Mr. Jain is an Associate Member of ICSI with over 10 years of experience in corporate secretarial and regulatory functions. This appointment ensures the company maintains its statutory compliance requirements as it manages its Rs 874 Cr market capitalization. The move follows the recommendation of the Nomination and Remuneration Committee.
- Appointment of Mr. Ishant Jain as CS, Compliance Officer, and KMP effective July 29, 2026
- Mr. Jain brings over 10 years of experience in corporate secretarial and SEBI regulations
- Company maintains a TTM revenue of Rs 176.50 Cr and OPM of 22.0%
- Borana is currently executing a Rs 71.35 Cr investment in Unit 4 for technical fabrics
Borana Weaves Limited has appointed Mr. Kunjal Dalal, Proprietor of K. Dalal & Co., as the company's Secretarial Auditor effective July 29, 2026. This appointment fills a casual vacancy created by the resignation of the previous secretarial auditor. Mr. Dalal brings over 30 years of experience in Company Law, Securities Laws, and Mergers & Acquisitions. The appointment is valid until the company's ensuing Annual General Meeting.
- Appointment of Mr. Kunjal Dalal effective from July 29, 2026
- Auditor brings over 30 years of experience in legal due diligence and capital market transactions
- Fills a casual vacancy arising from the resignation of the previous Secretarial Auditor
- Firm holds Peer Review Certificate no. 8134/2026
- Term of appointment extends until the next Annual General Meeting
Financial Performance
Revenue Growth by Segment
The company achieved a 46% YoY growth in operational revenue, reaching INR 290.31 Cr in FY25 compared to INR 199.06 Cr in FY24. For H1FY26, revenue grew 33% YoY to INR 176.50 Cr, driven by high capacity utilization in Unit 1 and Unit 3.
Geographic Revenue Split
Not disclosed in available documents, though the company operates primarily from Surat, Gujarat, and serves both domestic and international markets.
Profitability Margins
Gross Profit Margin improved from 38.5% in FY24 to 38.8% in FY25, and further to 39.5% in H1FY26. PAT Margin increased from 11.85% in FY24 to 13.85% in FY25 (a 200 bps expansion) and reached 16.35% in H1FY26 due to better cost control and vertical integration.
EBITDA Margin
EBITDA Margin stood at 21.76% in FY25, up 108 bps from 20.68% in FY24. Core profitability is supported by backward integration which allows for greater control over yarn-to-fabric margins.
Capital Expenditure
Planned setup of a new manufacturing facility (Unit 4) in Surat with a fund allocation of INR 71.35 Cr from IPO proceeds to increase production of unbleached synthetic grey fabric.
Credit Rating & Borrowing
Overall gearing improved significantly from 1.48x in FY24 to 0.69x in FY25, and further to 0.18x in H1FY26. Interest coverage ratio increased from 9.81x in FY24 to 23.30x in H1FY26, indicating a substantial reduction in borrowing risk.
Operational Drivers
Raw Materials
Key raw materials include Partially Oriented Yarn (POY), cotton, and synthetic fibers. COGS represented 61.2% of total revenue in FY25 (INR 177.74 Cr).
Import Sources
Sourced primarily from the Surat textile cluster; specific international import countries are not disclosed.
Key Suppliers
Specific suppliers include R & B Denims Ltd (POY purchase) and RB Industries (POY purchase), both of which are related parties.
Capacity Expansion
Currently operates 3 units in Surat with 700+ high-tech water jet looms. Unit 4 is planned to expand capacity specifically for technical fabrics and unbleached synthetic grey fabric.
Raw Material Costs
Raw material costs (COGS) were INR 177.74 Cr in FY25, up from INR 122.48 Cr in FY24. The company uses backward integration into yarn texturizing to mitigate price volatility.
Manufacturing Efficiency
Reported high capacity utilization in Unit 1 and Unit 3, with room for optimization in Unit 2. Zero stock-in-trade purchases reflect 100% in-house manufacturing strength.
Strategic Growth
Expected Growth Rate
33%
Growth Strategy
Growth will be achieved through the commissioning of Unit 4 (INR 71.35 Cr investment) for technical fabrics, increasing spinning capacity to meet yarn demand, and expanding weaving capabilities with automated air-jet and water-jet looms.
Products & Services
Texturized yarn, polyester grey fabric, unbleached synthetic grey fabric, and technical fabrics.
Brand Portfolio
Borana, Borana Filaments, and associated group entity R&B Denims.
New Products/Services
Entry into technical fabrics via Unit 4 and air-jet weaving for cotton and viscose fabrics (commenced 2024-25).
Market Expansion
Exploring international export markets with a focus on quality and timely delivery to fashion and industrial segments.
Strategic Alliances
Maintains strong related-party synergies with R & B Denims Ltd and Borana Industries LLP for job work and raw material sourcing.
External Factors
Industry Trends
The Indian textile industry is valued at USD 170 billion as of FY25, with a shift toward technical fabrics and sustainable, water-efficient production processes.
Competitive Landscape
Competes with traditional textile belts in India; differentiation is achieved through automation and in-house manufacturing (zero stock-in-trade).
Competitive Moat
Moat is built on vertical integration (backward integration into yarn) and a large-scale installation of 700+ high-tech water jet looms, which provides a cost leadership advantage over traditional weavers.
Macro Economic Sensitivity
The textile industry contributes 2.3% to India's GDP and 13% to industrial production, making the company sensitive to national industrial growth trends.
Consumer Behavior
Increasing demand for sustainable textiles and high-quality woven fabrics for fashion and home decor.
Geopolitical Risks
Geopolitical uncertainties and trade barriers in key export markets are identified as significant threats to the 2030 export target of USD 100 billion.
Regulatory & Governance
Industry Regulations
Subject to Ministry of Textiles regulations and pollution control norms for manufacturing units in Gujarat.
Environmental Compliance
Investing in sustainable production and water-efficient technologies to meet evolving environmental norms.
Taxation Policy Impact
Effective tax rate was approximately 18.1% in FY25 (INR 8.92 Cr tax on INR 49.12 Cr PBT).
Risk Analysis
Key Uncertainties
Volatility in raw material prices (cotton/synthetic) and labor availability in traditional textile belts.
Geographic Concentration Risk
High concentration risk with all four manufacturing units located in Surat, Gujarat.
Third Party Dependencies
Dependency on related parties (R & B Denims, RB Industries) for POY procurement.
Technology Obsolescence Risk
The company is mitigating technology risk by transitioning from traditional looms to 700+ high-tech water jet and air-jet looms.
Credit & Counterparty Risk
Receivables quality is supported by a high interest coverage ratio of 23.30x, suggesting strong liquidity and counterparty reliability.
