Cheviot Company Limited (CHEVIOT)
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Cheviot's revenue was ₹171 Cr (+42.5% year on year, +21.3% on the previous quarter), and net profit ₹45.3 Cr (+57.8% year on year); the operating margin was 12.4%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹171 | +42.5% | +21.3% |
| Operating profit | ₹21.1 | +6.0% | +21.1% |
| Net profit | ₹45.3 | +57.8% | from loss |
| EPS (₹) | 77.53 | +57.8% | from loss |
| Operating margin | 12.4% | — | — |
CHEVIOT delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 94.51% of the CHEVIOT shares traded on NSE were taken to delivery, against the stock's own 20-session average of 81.01%. That is higher than usual for this stock. Turnover was only ₹9 lakh, so a handful of trades can move this figure. Volume was 0.5 times its average, well below normal.
Delivery in the last 5 sessions: 88.6% · 71.0% · 83.5% · 94.0% · 94.5%
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
Cheviot Company Limited announced that the Office of the Jute Commissioner has notified an upward revision in the maximum ex-factory prices of 580 gms B-Twill Sacking Jute bags. This revision applies to supplies made to State Procurement Agencies under contracts allotted between September 2016 and December 2020. The retrospective price revision is expected to increase the company's sales realization by ₹7.45 crores. This one-time retrospective realization represents approximately 5.4% of the company's Q3 FY26 quarterly revenue of ₹138.86 crores.
- Retrospective price revision yields an expected sales realization increase of ₹7.45 crores
- Applies to supplies of 580 gms B-Twill Sacking Type-A & Type-B Jute bags
- Covers orders allotted by the Office of the Jute Commissioner between September 2016 and December 2020
- Gazette notifications published on 18 August 2026 and 19 August 2026
Cheviot Company Limited concluded its 128th Annual General Meeting on August 6, 2026, where shareholders approved a dividend of ₹25 per share (250% of face value). The total dividend payout is ₹14.60 crore, representing approximately 2.07% of the company's net worth of ₹706 crore. All five resolutions, including the re-appointment of Director Mr. Utkarsh Kanoria and the adoption of FY26 financial statements, were passed with the requisite majority. The Chairman also addressed shareholder queries regarding the current state of the jute industry and the company's performance.
- Approved a dividend of ₹25 per ordinary share for the financial year ended March 31, 2026
- Total dividend payout confirmed at ₹14,60,46,875 for 58,41,875 ordinary shares
- Re-appointment of Mr. Utkarsh Kanoria as a director was approved by the shareholders
- The meeting was attended by 47 members and conducted via video conferencing
- Audit reports for FY26 were presented without any qualifications or adverse remarks
Cheviot Company Limited concluded its 128th Annual General Meeting on August 6, 2026, where shareholders approved a final dividend of ₹25 per share (250% of face value). The total dividend payout is ₹14.60 crore, which represents approximately 2.07% of the company's ₹706 crore net worth. All five resolutions, including the re-appointment of director Mr. Utkarsh Kanoria and ratification of cost auditor remuneration for FY27, were passed with the requisite majority. The company reported clean audit reports for FY26 with no qualifications or adverse remarks.
- Approved a final dividend of ₹25 per share on 58,41,875 ordinary shares for FY26.
- Total dividend outflow confirmed at ₹14.60 crore, supported by a strong net worth of ₹706 crore.
- Audit reports for the financial year ended March 31, 2026, contained zero qualifications or adverse comments.
- Re-appointment of Mr. Utkarsh Kanoria as a director was approved by shareholders.
- Ratified the remuneration payable to the Cost Auditor for the financial year ending March 31, 2027.
Cheviot Company Limited reported a strong performance for Q1 FY27, with revenue from operations rising 42.5% YoY to ₹170.55 Cr. Net profit surged 57.7% YoY to ₹45.29 Cr, marking a significant turnaround from the ₹9.05 Cr loss reported in the preceding quarter (Q4 FY26). The bottom line was significantly bolstered by 'Other Income' of ₹36.39 Cr, which recovered from fair valuation losses on investments in the previous period. However, raw material costs saw a sharp increase of 75% YoY, reaching ₹117.07 Cr.
- Revenue from operations increased 42.5% YoY to ₹170.55 Cr from ₹119.72 Cr.
- Net Profit (PAT) grew 57.7% YoY to ₹45.29 Cr compared to ₹28.71 Cr in the year-ago period.
- Other Income contributed ₹36.39 Cr to the total income, reversing a loss of ₹23.67 Cr in Q4 FY26.
- Raw material consumption costs rose significantly to ₹117.07 Cr from ₹66.89 Cr YoY.
- Earnings Per Share (EPS) improved to ₹77.53 from ₹49.15 in Q1 FY26.
CRISIL has reaffirmed Cheviot Company Limited's long-term rating at 'CRISIL A+/Stable' and short-term rating at 'CRISIL A1+'. The rating covers total bank loan facilities of Rs 34 crore, which is minimal compared to the company's net worth of Rs 706 crore. The company maintains a very strong financial profile with a debt-to-equity ratio of 0.01. This reaffirmation reflects the company's stable creditworthiness despite global challenges in the jute export market.
- CRISIL reaffirmed the Long-Term Rating at CRISIL A+/Stable
- Short-Term Rating reaffirmed at CRISIL A1+
- Total bank facilities rated amount to Rs 34 crore
- The rating letter remains valid until March 31, 2027
- Rated facilities include a Rs 10 crore Cash Credit and Rs 22 crore Non-Fund Based Limit
Cheviot Company Limited has scheduled its 128th Annual General Meeting (AGM) for August 6, 2026, primarily to approve a final dividend of ₹25 per share (250% of face value). The total dividend payout is ₹14.60 Cr, representing approximately 33.5% of the H1 FY26 net profit of ₹43.55 Cr. Other key agenda items include the re-appointment of Director Mr. Utkarsh Kanoria and the approval of commissions for non-executive directors capped at 1% of net profits. The record date for dividend eligibility is fixed as July 30, 2026.
- Proposed final dividend of ₹25 per ordinary share (250% on face value of ₹10) for FY26
- Total dividend outflow calculated at ₹14.60 Cr across 58,41,875 shares
- Record date for dividend eligibility set for July 30, 2026, with payment starting August 11, 2026
- Resolution to pay commission to non-executive directors not exceeding 1% of net profits
- Ratification of cost auditor remuneration at ₹40,000 plus taxes for FY27
Cheviot Company Limited has filed its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. The filing confirms that for the quarter ended June 30, 2026, the company's Registrar and Share Transfer Agent, Maheshwari Datamatics Private Limited, processed all dematerialization requests. The registrar verified that physical certificates were mutilated or cancelled after the shares were credited to the respective depository accounts. This is a standard administrative procedure required for all listed entities in India.
- Compliance certificate issued for the quarter ended June 30, 2026
- Covers the dematerialization period from April 1, 2026, to June 30, 2026
- Confirmation of destruction/mutilation of physical certificates after dematerialization
- Registrar and Share Transfer Agent identified as Maheshwari Datamatics Private Limited
Cheviot Company Limited has announced the closure of its trading window starting July 1, 2026, in compliance with SEBI (Prohibition of Insider Trading) Regulations. This closure is ahead of the declaration of the un-audited standalone financial results for the quarter ending June 30, 2026. The restriction applies to all designated persons and their immediate relatives. The window will remain closed until 48 hours after the financial results are officially declared to the stock exchanges.
- Trading window closure commences on July 1, 2026.
- Closure is related to the financial results for the quarter ending June 30, 2026.
- The window will reopen 48 hours after the announcement of un-audited standalone financial results.
- Compliance is maintained under SEBI (Prohibition of Insider Trading) Regulations, 2015.
- Restriction applies to designated persons and their immediate relatives.
Cheviot Company Limited has announced its 128th Annual General Meeting (AGM) scheduled for August 6, 2026, at 11:00 a.m. The meeting will be conducted virtually via video conferencing or other audio-visual means. The company has established July 30, 2026, as the cut-off date to determine which shareholders are eligible to participate in electronic voting. This is a standard regulatory procedure for listed entities to conduct annual business and governance reviews.
- The 128th Annual General Meeting is scheduled for August 6, 2026, at 11:00 a.m.
- The cut-off date for electronic voting eligibility is fixed as July 30, 2026.
- The meeting will be held through video conferencing (VC) or other audio-visual means (OAVM).
- E-voting facilities for the meeting will be provided by National Securities Depository Limited (NSDL).
Cheviot Company Limited has recommended a final dividend of ₹25 per share for FY26, with the record date set for July 30, 2026. While annual revenue grew by 24.5% to ₹547.41 crore, the company reported a net loss of ₹9.05 crore in Q4 FY26 compared to a profit in the previous year. Full-year net profit declined by 10.5% to ₹51.69 crore, leading to a drop in EPS from ₹98.08 to ₹88.48. The dividend payout remains substantial at ₹14.60 crore, reflecting a 250% payout on face value.
- Recommended final dividend of ₹25 per share (250%) for the financial year ended March 31, 2026.
- Annual revenue from operations increased by 24.5% YoY to ₹54,740.51 lakhs.
- Net profit for FY26 decreased to ₹5,169.15 lakhs from ₹5,774.19 lakhs in the previous year.
- Reported a net loss of ₹905.39 lakhs in Q4 FY26, impacted by negative other income and rising material costs.
- Record date for dividend entitlement is fixed as July 30, 2026, with payment starting August 11, 2026.
Cheviot Company Limited has announced a final dividend of ₹25 per share (250%) for FY26, with the record date fixed as July 30, 2026. Despite a 24.5% growth in annual revenue to ₹547.41 crore, the company's net profit for the full year fell by 10.5% to ₹51.69 crore. The fourth quarter was particularly weak, resulting in a net loss of ₹9.05 crore compared to a profit of ₹9.31 crore in the same period last year. This decline was driven by a substantial increase in raw material costs and lower other income.
- Final dividend of ₹25 per share (250%) recommended for the financial year ended March 31, 2026.
- Annual revenue grew 24.5% YoY to ₹547.41 crore, while annual net profit fell 10.5% to ₹51.69 crore.
- Reported a net loss of ₹9.05 crore in Q4 FY26 vs a profit of ₹9.31 crore in Q4 FY25.
- Cost of materials consumed rose significantly to ₹337.94 crore in FY26 from ₹233.19 crore in FY25.
- Record date for dividend is July 30, 2026, with payment scheduled to begin from August 11, 2026.
Cheviot Company Limited reported a 24.5% growth in annual revenue to ₹54,740.51 lakhs for FY26, though net profit declined by 10.5% to ₹5,169.15 lakhs. The fourth quarter was particularly weak, posting a net loss of ₹905.39 lakhs compared to a profit of ₹930.66 lakhs in the same period last year, largely due to a significant hit in 'Other Income' and rising material costs. Despite the profit dip, the board has recommended a substantial final dividend of ₹25 per share, maintaining its commitment to shareholder returns.
- Annual Revenue from operations rose to ₹54,740.51 lakhs in FY26 from ₹43,942.61 lakhs in FY25.
- Full-year Net Profit stood at ₹5,169.15 lakhs, down from ₹5,774.19 lakhs in the previous year.
- Q4 FY26 saw a net loss of ₹905.39 lakhs, impacted by negative other income of ₹2,366.66 lakhs.
- Board recommended a final dividend of ₹25 per share (250%) with a record date of July 30, 2026.
- Cost of materials consumed for the year surged significantly to ₹33,794.03 lakhs from ₹23,319.39 lakhs.
The promoter group of Cheviot Company Limited has filed an annual declaration under Regulation 31(4) of the SEBI SAST Regulations for the financial year ended March 31, 2026. Utkarsh Kanoria, representing seven promoter entities, confirmed that no shares held by the group were encumbered or pledged, directly or indirectly, during the year. This group includes three individual promoters and four corporate entities such as Harsh Investments Private Limited. This routine disclosure confirms that promoter holdings remain free of debt-related liens.
- Declaration confirms zero encumbrance on promoter shares for the financial year ended March 31, 2026
- Covers 7 distinct promoter and promoter group entities including Harsh Vardhan Kanoria and Malati Kanoria
- Compliance filing submitted under Regulation 31(4) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations
- The disclosure was submitted to both BSE and NSE as per regulatory requirements
CRISIL Ratings has reaffirmed the credit ratings for Cheviot Company Limited's bank loan facilities totaling Rs. 34 crore. The long-term rating remains at 'CRISIL A+/Stable', while the short-term rating is maintained at 'CRISIL A1+'. This reaffirmation reflects the company's stable financial profile and creditworthiness for its existing and proposed debt obligations. The ratings are valid through March 31, 2027, providing assurance regarding the company's liquidity and debt-servicing capabilities.
- Long-term rating reaffirmed at CRISIL A+/Stable for bank facilities
- Short-term rating reaffirmed at CRISIL A1+, indicating strong liquidity and low credit risk
- Total bank loan facilities covered under this rating amount to Rs. 34 crore
- Facilities include a Rs. 10 crore Cash Credit and a Rs. 22 crore Non-Fund Based Limit with Axis Bank
- The rating letter is valid until March 31, 2027, following an annual surveillance exercise
Cheviot Company Limited has filed its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The certificate, issued by the Registrar and Share Transfer Agent (RTA) Maheshwari Datamatics Private Limited, pertains to the quarter ended March 31, 2026. This filing confirms that the company has followed standard procedures for the dematerialization of securities, including the cancellation of physical certificates. Such filings are mandatory for all listed companies to ensure the integrity of depository records.
- Compliance certificate submitted for the quarter ended March 31, 2026.
- Issued by Registrar and Share Transfer Agent (RTA) Maheshwari Datamatics Private Limited.
- Confirms adherence to SEBI (Depositories and Participants) Regulations, 2018 regarding share dematerialization.
Financial Performance
Revenue Growth by Segment
The company operates in a single segment, Jute Goods, which generated revenue of INR 267.93 Cr in H1 FY26, representing a 35.6% YoY growth compared to INR 197.56 Cr in H1 FY25. For the full year FY25, revenue was INR 439.43 Cr.
Geographic Revenue Split
Not disclosed in available documents, though the company serves both domestic and export markets.
Profitability Margins
Net Profit Margin for H1 FY26 was 16.25% (INR 43.55 Cr profit on INR 267.93 Cr revenue), a slight decline from 22.78% in H1 FY25. Operating margin for 9M FY25 was 10.64%.
EBITDA Margin
Operating margin stood at 10.64% for 9M FY25, compared to a target upward factor of 12-13%. EBITDA margin for H1 FY25 was estimated at 11.2%.
Capital Expenditure
Historical PPE purchase for FY25 was INR 17.20 Cr. For H1 FY26, the company spent INR 8.54 Cr on property, plant, and equipment and other intangible assets.
Credit Rating & Borrowing
The company maintains a strong financial risk profile with a gearing ratio of 0.01 times and total outside liabilities to networth of 0.08 times as of FY23. Borrowings were minimal at INR 5.03 Cr as of March 31, 2025.
Operational Drivers
Raw Materials
Raw Jute is the primary raw material. Employee costs are also a significant driver, having increased with effect from February 2024.
Capacity Expansion
A new weaving unit was commissioned in fiscal 2023. Capacity utilization of this unit has been lower than expected due to muted export demand amidst global challenges.
Raw Material Costs
Not disclosed as a specific percentage of revenue, but the company focuses on containing the impact of rising employee costs through improved capacity utilization.
Manufacturing Efficiency
Capacity utilization of the new weaving unit is a key monitorable; lower-than-expected utilization has impacted recent performance.
Strategic Growth
Growth Strategy
Growth is targeted through the ramp-up of the new weaving unit commissioned in FY23, revival in domestic and export demand, and continuous technology upgrades to improve operating efficiency.
Products & Services
Jute Goods, including bags, yarn, and specialized jute products.
Brand Portfolio
Cheviot Group.
Market Expansion
Focusing on gradual revival in both domestic and export markets to strengthen market position.
Strategic Alliances
The company has no subsidiary, associate, or joint venture as of September 30, 2025.
External Factors
Industry Trends
The jute industry is evolving with a shift toward sustainable packaging, but faces competition from cheaper synthetic substitutes and regulatory risks.
Competitive Landscape
Key competitors include other jute mills and manufacturers of synthetic substitutes.
Competitive Moat
Moat includes extensive promoter experience since 1897, a strong financial risk profile with near-zero debt (gearing 0.01x), and a diversified product profile.
Macro Economic Sensitivity
Highly sensitive to global export demand and market sentiments, which have recently remained muted.
Consumer Behavior
Shift toward eco-friendly jute products is a positive trend, though price sensitivity leads to competition from cheaper alternatives.
Geopolitical Risks
Global challenges and muted export demand are cited as primary factors for lower capacity utilization.
Regulatory & Governance
Industry Regulations
The jute industry is subject to high regulatory risks, including government procurement policies and environmental norms.
Taxation Policy Impact
Total tax expense for H1 FY26 was INR 12.66 Cr. The company had a net deferred tax liability of INR 25.10 Cr as of March 31, 2025.
Legal Contingencies
The company reported no unspent amounts for ongoing CSR projects required to be transferred under Section 135(6) of the Companies Act.
Risk Analysis
Key Uncertainties
Significant exposure to market-linked investments (INR 310.80 Cr, or 43.57% of assets) creates volatility in earnings due to fair value changes.
Geographic Concentration Risk
Not disclosed, but the company has a wide distribution network for its jute goods.
Technology Obsolescence Risk
Mitigated by regular capex for technology upgrades and replacement of old machinery.
Credit & Counterparty Risk
Provision for doubtful balances was INR 0.35 Cr in FY25, indicating relatively high receivable quality.
