Faze Three Limited (FAZE3Q)
₹417.80 +2.88% last close, 16 Oct
Latest quarterly results (Q4 FY26)
In its latest reported quarter, Q4 FY26, Faze Three's revenue was ₹277 Cr (+31.6% year on year, +22.1% on the previous quarter), and net profit ₹20.0 Cr (+14.7% year on year); the operating margin was 12.3%.
| Q4 FY26 (₹ Cr) | Value | YoY vs Q4 FY25 | QoQ |
|---|---|---|---|
| Revenue | ₹277 | +31.6% | +22.1% |
| Operating profit | ₹34.0 | +38.5% | +83.0% |
| Net profit | ₹20.0 | +14.7% | +212.5% |
| EPS (₹) | 8.06 | +12.4% | +205.3% |
| Operating margin | 12.3% | — | — |
FAZE3Q delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 77.74% of the FAZE3Q shares traded on NSE were taken to delivery, against the stock's own 20-session average of 55.02%. The price rose 2.88% on that unusually high delivery, the pattern the delivery dashboard labels accumulation. It traded 2.5 times its average daily volume.
Delivery in the last 5 sessions: 70.6% · 52.7% · 58.2% · 47.3% · 77.7%
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
Faze Three shared an interview publication featuring President Vishnu Anand outlining the company's operating metrics and growth strategy. The company disclosed an installed capacity base of ₹1,650 crore, which is currently running at 55-60% utilization, providing room to nearly double volume with limited capex. Exports constitute over 90% of revenue across 8 factories, with top client exposure capped below 15% each. Management targets doubling volumes roughly every four years, supported by China-plus-one tailwinds and anticipated PLI support starting in FY28.
- Installed manufacturing capacity stands at ₹1,650 crore, currently running at 55–60% utilization
- Exports contribute over 90% of total revenue, with no single customer exceeding 15%
- Concept-to-shipment turnaround ranges from 45 to 100 days across 8 vertically integrated factories
- Company operates 7 MW captive rooftop solar capacity alongside Li-ion electric handling systems
- Management targets doubling production volumes roughly every four years with PLI support expected from FY28
Faze Three Limited's shareholders have approved the appointment of Mr. Mohit Dinesh Solanki as an Independent Director at the 41st Annual General Meeting held on September 04, 2026. The appointment is effective for a 5-year term from August 17, 2026, to August 16, 2031. Mr. Solanki is a Chartered Accountant with over 14 years of experience in banking, finance, and manufacturing operations. The appointee is not related to any existing directors of the company.
- Shareholders approved the appointment of Mr. Mohit Dinesh Solanki at the 41st AGM on September 04, 2026
- Appointed as Independent Director for a 5-year term from August 17, 2026, to August 16, 2031
- Brings over 14 years of experience across banking (ex-Barclays Bank PLC) and manufacturing operations
- No inter-se relationship with any current director of the company
Faze Three Limited announced the voting results for its 41st Annual General Meeting held on September 04, 2026. Shareholders approved all 5 resolutions with a 99.9999% favorable vote out of 1.85 crore votes polled (75.30% overall turnout). Key approvals included the adoption of FY26 financial statements, appointment of Independent Director Mr. Mohit Solanki, and special resolutions enabling higher borrowing limits under Section 180(1)(c) and asset mortgaging under Section 180(1)(a).
- Overall voter turnout stood at 75.2989% with 1,85,21,906 votes polled across 9,981 total shareholders on record date (August 28, 2026)
- All 5 resolutions passed overwhelmingly with 99.9999% votes cast in favor
- Special resolutions approved for increasing borrowing limits under Section 180(1)(c) and creating mortgage/charge under Section 180(1)(a)
- Appointment of Mr. Mohit Solanki as Independent Director approved by shareholders
Faze Three Limited has submitted the Consolidated Scrutinizer's Report for its 41st Annual General Meeting (AGM) held on September 4, 2026. All ordinary and special resolutions proposed in the AGM notice were approved by shareholders with the requisite majority via remote e-voting and e-voting at the meeting. This is a routine statutory disclosure under Section 108 of the Companies Act, 2013.
- 41st Annual General Meeting held on September 04, 2026 via Video Conferencing
- All resolutions approved by shareholders with requisite majority
- Consolidated Scrutinizer's Report submitted pursuant to Section 108 of the Companies Act, 2013
Faze Three Limited conducted its 41st Annual General Meeting on September 04, 2026, via video conferencing with 53 shareholders attending to form quorum. The company transacted ordinary business including adoption of FY26 financial statements and director re-appointment, alongside special resolutions for appointing an Independent Director, increasing borrowing limits under Section 180(1)(c), and creating asset charges under Section 180(1)(a). Voting results along with the scrutinizer's report will be declared within two working days.
- 41st AGM convened on September 04, 2026 with 53 shareholders in attendance
- Special resolutions proposed for increasing borrowing limits and mortgage/charge creation on assets
- Special resolution tabled for appointment of Mr. Mohit Solanki as Independent Director
- Remote e-voting was conducted from September 01, 2026 to September 03, 2026
Faze Three Limited has submitted the First Supplemental Trust Deed of the Faze Three Employee Trust to stock exchanges in compliance with Regulation 3(3) of SEBI (SBEB & SE) Regulations, 2021. This follows approval by the Nomination and Remuneration Committee on August 11, 2026, and registration with the Sub-Registrar, Mumbai City on August 19, 2026. The submission is a continuation of an earlier corporate intimation dated September 16, 2024. The filing represents a procedural compliance requirement with no immediate impact on financials or business operations.
- Nomination and Remuneration Committee approved trust deed amendments on August 11, 2026
- First Supplemental Trust Deed executed and registered on August 19, 2026
- Filing submitted pursuant to Regulation 3(3) of SEBI (SBEB & SE) Regulations, 2021
- Continues process initiated via company intimation dated September 16, 2024
Faze Three Limited has informed the exchanges regarding its scheduled investor interactions on Wednesday, August 26, 2026. The management team will hold virtual one-to-one and group meetings with Equitree Capital and Equinova Investment. The company noted that discussions will rely on the investor presentation submitted on August 11, 2026, with no unpublished price sensitive information (UPSI) being shared.
- Virtual analyst meetings scheduled for Wednesday, August 26, 2026
- Scheduled participants include Equitree Capital and Equinova Investment
- Discussions will reference the Investor Presentation submitted on August 11, 2026
- Meeting format includes both One-to-One and Group virtual interactions
Faze Three Limited has announced a schedule of virtual meetings with institutional investors and analysts on Wednesday, August 26, 2026. The participants include Shanghvi Family Office (Mirasol Enterprises), Coheron Wealth, and Phillip Capital India. The discussions will cover one-to-one and group virtual formats based on the publicly available Investor Presentation submitted on August 11, 2026. No unpublished price sensitive information (UPSI) will be shared.
- Virtual interactions scheduled with 3 entities on August 26, 2026
- Participants include Shanghvi Family Office - Mirasol Enterprises, Coheron Wealth, and Phillip Capital India
- Meetings will refer to the existing Investor Presentation submitted on August 11, 2026
- Discussions are based strictly on publicly available information with no UPSI
Faze Three Limited has scheduled virtual institutional investor and analyst interactions for Tuesday, August 25, 2026. The meetings will feature one-on-one and group discussions with four entities: Carnelian Asset Management, Arihant Capital Markets, Emkay Global Financial Services, and Niveshaay Investment Management. The discussions will be based on the company's publicly available investor presentation issued on August 11, 2026, with no unpublished price-sensitive information being shared.
- Management to conduct virtual meetings on Tuesday, August 25, 2026
- Participating entities include Carnelian Asset Management, Arihant Capital, Emkay Global, and Niveshaay
- Interactions will refer to the investor presentation submitted on August 11, 2026
- Format includes both One to One and Group virtual sessions
Faze Three Limited has released its Business Responsibility and Sustainability Report (BRSR) for FY 2025-26, confirming its high dependence on international markets with exports accounting for 90.95% of total turnover. The company operates 8 manufacturing plants and serves 23 countries, primarily supplying global retail giants in the home textiles segment. Sustainability initiatives include a 3.5 MW rooftop solar installation to mitigate energy costs. However, the report notes a rising employee turnover rate, which reached 20.65% in FY26 compared to 10.82% two years prior.
- Exports contributed 90.95% of total turnover, highlighting significant exposure to global retail demand.
- Operates 8 manufacturing plants and 3 offices in India, serving 23 international countries.
- Employee turnover rate increased to 20.65% in FY26, up from 17.68% in FY25 and 10.82% in FY24.
- Sustainability infrastructure includes 3.5 MW of rooftop solar capacity and use of PNG for processing.
- Permanent workforce consists of 899 employees and 3,961 workers, with 22.87% female participation among workers.
Faze Three Limited has issued a notice for its 41st Annual General Meeting (AGM) scheduled for September 4, 2026. The primary agenda includes a special resolution to increase the company's borrowing limit to ₹1,000 crore, which is significantly higher than its current debt of ₹256 crore and net worth of ₹443 crore. Additionally, the company is seeking approval for the appointment of Mohit Solanki as an Independent Director and the re-appointment of Sanjay Anand as a Whole-Time Director. This move to expand borrowing headroom suggests preparation for potential future capital requirements or strategic expansions.
- Proposed increase in borrowing limits under Section 180(1)(c) to ₹1,000 crore
- AGM scheduled for September 04, 2026, at 05:00 p.m. IST via Video Conferencing
- Appointment of Mohit Solanki as an Independent Director for a 5-year term until August 2031
- Re-appointment of Sanjay Anand as Whole-Time Director; he currently holds a 2.99% stake (7,26,026 shares)
- Proposed borrowing limit of ₹1,000 crore represents approximately 225% of the current net worth of ₹443 crore
Faze Three Limited has scheduled its 41st Annual General Meeting (AGM) for September 4, 2026, via video conferencing. The company has dispatched physical letters to shareholders whose email addresses are not registered, providing access to the Integrated Annual Report for FY 2025-26. Key dates for shareholders include a cut-off date of August 28, 2026, to determine e-voting eligibility. The e-voting period will run from September 1 to September 3, 2026. This follows a fiscal year where the company recorded TTM revenue of ₹923 Cr and a PAT of ₹34 Cr.
- 41st Annual General Meeting scheduled for September 04, 2026, at 5:00 PM IST.
- Cut-off date to determine e-voting entitlement is Friday, August 28, 2026.
- E-voting window opens on September 01, 2026 (9:00 AM) and closes on September 03, 2026 (5:00 PM).
- Letters dispatched on August 11, 2026, to shareholders with unregistered email addresses as per SEBI Regulation 36(1)(b).
Faze Three reported its highest-ever June quarter revenue, with TTM revenue reaching ~Rs 950 Cr. The company is currently utilizing only 55-60% of its Rs 1,650+ Cr installed revenue capacity, providing significant headroom for growth without major incremental investment. A final capex cycle of Rs 75 Cr is planned for FY27 to add new product categories, after which 40-50% of operating cash flow is expected to be available for debt reduction or dividends. While revenue momentum is strong, EBITDA margins moderated to 11.5% in Q1 FY27 due to a 25-35% spike in logistics and input costs linked to the West Asia crisis.
- Installed revenue capacity stands at Rs 1,650+ Cr, nearly 1.8x the current TTM revenue of Rs 923 Cr.
- Planned capex of Rs 75 Cr for FY27 will conclude the major investment cycle that saw Rs 385+ Cr deployed since FY20.
- EBITDA margin moderated to 11.5% in Q1 FY27 from 13.25% in Q4 FY26 due to rising input and logistics costs.
- PLI scheme approval received on July 1, 2026, with financial benefits expected to accrue starting FY28.
- Net debt was reduced by Rs 12.4 Cr in Q1 FY27, supported by a Rs 30.5 Cr release from working capital.
Faze Three Limited has appointed Mr. Mohit Solanki as an Additional Independent Director effective August 17, 2026, for a proposed five-year term. This follows the scheduled departure of Mr. Vinit Rathod, who completed his second five-year tenure as an Independent Director on August 11, 2026. Mr. Solanki is a Chartered Accountant with 14 years of experience in banking (Barclays Bank PLC) and manufacturing operations. The company, which reported TTM revenue of ₹923 Cr, is refreshing its board oversight as it targets growth through 'China Plus One' strategies.
- Mr. Vinit Rathod completed his 2nd tenure of 5 years as Independent Director on August 11, 2026.
- Mr. Mohit Solanki appointed as Additional Director (Independent) effective August 17, 2026.
- Proposed term for Mr. Solanki is 5 years, spanning from August 17, 2026, to August 16, 2031.
- New appointee Mr. Solanki brings 14 years of experience across banking, finance, and manufacturing operations.
- Appointment is subject to shareholder approval at the ensuing Annual General Meeting (AGM).
Faze Three Limited reported a weak set of standalone results for Q1 FY27, with net profit declining 31.3% YoY to ₹8.77 cr from ₹12.76 cr. While revenue from operations grew marginally by 4% to ₹212.84 cr, profitability was severely impacted by a 14.9% rise in raw material costs. A significant development is the board's proposal to increase borrowing limits to ₹1,000 cr, which is approximately 2.25x the company's current net worth of ₹443 cr. The company also granted 3.31 lakh ESOPs and announced changes to its independent directors.
- Standalone Net Profit fell 31.3% YoY to ₹8.77 cr in Q1 FY27.
- Revenue from operations increased 3.96% YoY to ₹212.84 cr.
- Cost of materials consumed rose to ₹132.63 cr, up from ₹115.46 cr in the year-ago quarter.
- Proposed increase in borrowing limits to ₹1,000 cr (current debt is ₹256 cr).
- Granted 3,31,154 stock options under the Faze Three ESOP Scheme 2024.
Financial Performance
Revenue Growth by Segment
The company operates in a single reportable segment: manufacturing of home textiles. Total income grew by 22.6% YoY to INR 701.7 Cr in FY25 compared to INR 572.3 Cr in FY24. For the TTM period ending September 2025, revenue reached INR 819.7 Cr, representing a 16.8% growth over the previous TTM period.
Geographic Revenue Split
The company has a high geographical concentration with exports to the US accounting for over 50% of its total revenue over the last three years. The remaining revenue is derived from other international markets and domestic sales through its subsidiary, Mats and More Private Limited.
Profitability Margins
Net profit margins have seen a downward trend, declining from 8.15% in FY24 to 5.79% in FY25, and further to 5.25% for the TTM ending September 2025. This decline is attributed to rising raw material costs and one-time expenses related to US showroom setup and capacity operationalization.
EBITDA Margin
EBITDA margin moderated to 13.14% in FY25 from 16.47% in FY24, a decrease of 333 bps. Core profitability was impacted by a 300 bps moderation in PBILDT margins due to global supply chain bottlenecks and raw material price volatility. TTM Sep 2025 EBITDA margin stands at 12.47%.
Capital Expenditure
The company has invested in operationalizing new capacity in Panipat and setting up a showroom in the US. While specific total INR Cr for planned CAPEX is not fully disclosed, the company maintains a long-term debt-free capital structure to support these expansions.
Credit Rating & Borrowing
CARE Ratings reaffirmed 'CARE A; Stable / CARE A1' for bank facilities totaling INR 165.00 Cr as of August 2024. The company has no outstanding term debt, and its adjusted overall gearing stood at 0.56x as of March 31, 2025.
Operational Drivers
Raw Materials
Key raw materials include polyester and cotton-based textiles. Polyester prices have recently increased, impacting margins. Raw materials represent a significant portion of the cost structure, though the exact percentage of total cost for each is not disclosed.
Import Sources
Manufacturing is concentrated in India across 8 facilities located in Dadra and Nagar Haveli, Gujarat, Haryana, and Maharashtra. Specific import countries for raw materials are not disclosed, but the company manages a global supply chain.
Capacity Expansion
The company operates 8 state-of-the-art manufacturing facilities. Recent expansions include the operationalization of new capacity in Panipat to handle larger volumes of value-added home and technical textiles. Current MTPA/unit capacity is not specified.
Raw Material Costs
Raw material costs are subject to high volatility. In FY24, volume growth of 5% was offset by declining realizations due to the normalization of raw material prices. Procurement strategies focus on managing gross margin stabilization amidst global supply chain bottlenecks.
Manufacturing Efficiency
The company is focusing on enhancing its ability to deliver larger volumes in core focus areas of value-added home and technical textiles. Capacity utilization is expected to increase with the addition of new customers and product categories.
Strategic Growth
Expected Growth Rate
16.80%
Growth Strategy
Growth will be driven by the 'China Plus One' strategy adopted by international customers, increasing utilization of newly added capacities in Panipat, and the addition of new customers. The company is also expanding its product categories into technical textiles and patio mats through its subsidiary Mats and More Private Limited.
Products & Services
Value-added home textiles, technical textiles, mats, rugs, and patio mats.
Brand Portfolio
Faze Three, Mats and More.
New Products/Services
Expansion into technical textiles and patio mats. The company is leveraging enhanced design and development capabilities to turnaround new products faster based on customer projections.
Market Expansion
Targeting increased market share in the US through a new showroom and leveraging the 'China Plus One' shift to capture more volume from reputed international retailers.
Strategic Alliances
The company operates through subsidiaries including Faze Three US LLC and Mats and More Private Limited to manage international distribution and specific product lines.
External Factors
Industry Trends
The home textile industry is benefiting from a shift in global sourcing away from China. Faze Three is positioning itself by expanding capacity and focusing on value-added technical textiles to capture this growing demand.
Competitive Landscape
Competes with other Indian and global home textile manufacturers. Competitive dynamics are driven by the ability to manufacture large volumes and fast design turnaround.
Competitive Moat
The moat is built on 30+ years of operational experience, long-term relationships with global retailers, and a debt-free capital structure. These advantages are sustainable due to high entry barriers in large-scale retail supply chains.
Macro Economic Sensitivity
Highly sensitive to global economic cycles and consumer spending in the US market. Revenue growth is linked to the 'China Plus One' geopolitical strategy.
Consumer Behavior
Demand is driven by international retail trends in home decor and functional textiles like patio mats.
Geopolitical Risks
Significant risk from US-China trade relations and potential tariff-related uncertainties which could pressure profitability and debt coverage metrics.
Regulatory & Governance
Industry Regulations
Operations are subject to manufacturing standards and export-import regulations. The company emphasizes ethical business practices and compliance with all applicable statutes.
Taxation Policy Impact
The effective tax rate is reflected in the PBT of INR 52.7 Cr vs PAT of INR 40.7 Cr for FY25, implying a tax rate of approximately 22.8%.
Risk Analysis
Key Uncertainties
Tariff-related uncertainties in the US market and raw material price volatility (polyester/cotton) are the primary risks, with potential to impact margins by 300-400 bps.
Geographic Concentration Risk
Over 50% of revenue is concentrated in the US market.
Third Party Dependencies
Dependency on international retailers for stable revenue visibility; however, the customer base is described as 'wide' and 'diversified'.
Technology Obsolescence Risk
Low risk in textiles, but the company mitigates this through constant investment in state-of-the-art manufacturing facilities and design capabilities.
Credit & Counterparty Risk
Trade receivables stood at INR 90.83 Cr as of March 2025. The company deals with reputed international retailers, which generally implies higher receivable quality.
