🔍

Gujarat Raffia Industries Limited (GUJRAFFIA)

₹58.91 -8.67% last close, 16 Oct

📊 NSE: GUJRAFFIA 🏢 Textiles - Products 📢 Latest filing: 07 Sep 2026 📝 Analysis written: 13 Dec 2025

Latest quarterly results (Q1 FY27)

In its latest reported quarter, Q1 FY27, Gujarat Raffia's revenue was ₹9.4 Cr (-18.5% year on year, -65.2% on the previous quarter), and net profit ₹0.5 Cr (+38.2% year on year); the operating margin was 10.0%.

Q1 FY27 (₹ Cr)	Value	YoY vs Q1 FY26	QoQ
Revenue	₹9.4	-18.5%	-65.2%
Operating profit	₹0.9	-19.3%	+20.0%
Net profit	₹0.5	+38.2%	+14.6%
EPS (₹)	0.87	+38.1%	+14.5%
Operating margin	10.0%	—	—

Full quarterly financials → Results calendar →

GUJRAFFIA delivery percentage and bulk deals

NSE end-of-day data for Fri, 16 Oct 2026

On Fri, 16 Oct 2026, 41.62% of the GUJRAFFIA shares traded on NSE were taken to delivery, against the stock's own 20-session average of 68.33%. That is lower than usual for this stock. Turnover was only ₹46 lakh, so a handful of trades can move this figure. It closed at its lower price band (circuit) on 16 Oct, one of 4 band closes in about the last 20 sessions. 11 bulk or block deals were reported in GUJRAFFIA in the last 60 days: ₹1 Cr bought and ₹1 Cr sold.

41.62%Delivery, 16 Oct

68.33%Own 20-session average

1.7×Volume vs its average

₹58.91NSE close · -8.67%

Delivery in the last 5 sessions: 80.9% · 36.0% · 27.2% · 21.6% · 41.6%

Date	Side	Counterparty	Value	Price	Quantity	Type
15 Oct	Sell	Nk Securities Research Private Limited	₹0.37 Cr	₹65.72	55,950	Bulk
15 Oct	Buy	Nk Securities Research Private Limited	₹0.37 Cr	₹65.48	55,950	Bulk
15 Oct	Sell	Share India Securities Limited	₹0.19 Cr	₹65.19	29,789	Bulk
15 Oct	Buy	Share India Securities Limited	₹0.19 Cr	₹64.90	29,789	Bulk
14 Oct	Buy	Arham Share Private Limited	₹0.37 Cr	₹62.52	59,066	Bulk

Delivery across the market →Circuit stocks →All bulk and block deals →

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

Gujarat Raffia Appoints MAPSS & CO. as Statutory Auditor for a 5-Year Term

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 07 Sep 2026, 06:56 PM

Gujarat Raffia Industries Limited has appointed M/s. MAPSS & CO., Chartered Accountants (FRN: 107706W), as the Statutory Auditors of the company. The appointment took effect on September 7, 2026, for a tenure of 5 years, following the tenure completion of the previous auditor. The appointment is subject to ratification by shareholders at the upcoming Annual General Meeting scheduled for September 29, 2026.

Appointed M/s. MAPSS & CO., Chartered Accountants (FRN: 107706W), as Statutory Auditors
Appointment tenure is for a period of 5 years starting September 7, 2026
Shareholder ratification scheduled for the Annual General Meeting on September 29, 2026
Change necessitated due to the tenure completion of the previous statutory auditor

💡 Track the upcoming AGM on September 29, 2026, for shareholder approval and review subsequent quarterly financial results for any audit observations.

Gujarat Raffia Industries Convenes 40th Annual General Meeting on September 29, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 07 Sep 2026, 04:31 PM

Gujarat Raffia Industries Limited has issued the notice for its 40th Annual General Meeting (AGM) scheduled for Tuesday, September 29, 2026, at 2:00 PM IST at its registered office in Santej, Gandhinagar. The company has enabled remote e-voting facilities for shareholders through NSDL. This is a routine statutory meeting to consider annual accounts and routine corporate resolutions for the financial year.

40th Annual General Meeting scheduled for September 29, 2026 at 2:00 PM IST
AGM venue located at Registered Office: Plot No. 455, Santej-Vadsar Road, Village Santej, Taluka Kalol, Gandhinagar
Remote e-voting and venue voting facility facilitated through NSDL platform
Notice issued pursuant to Regulation 30 of SEBI (LODR) Regulations, 2015

💡 Eligible shareholders may participate in voting on company resolutions via NSDL remote e-voting or attend the meeting in person on September 29, 2026.

Gujarat Raffia fixes 40th AGM for Sep 29, 2026; proposes 5-year statutory auditor term

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 07 Sep 2026, 04:25 PM

Gujarat Raffia Industries has approved the convening of its 40th Annual General Meeting (AGM) on Tuesday, September 29, 2026. The Board approved the appointment of M/s. MAPPS & CO., Chartered Accountants (FRN: 107706W), as the Statutory Auditors for a five-year term from the 40th to the 44th AGM, following the tenure completion of the previous auditor. The appointment and the re-appointment of retiring director Mr. Abhishek Bhutoria are subject to shareholder approval at the AGM.

40th Annual General Meeting scheduled for September 29, 2026, at 02:00 PM
Appointment of M/s. MAPPS & CO. (FRN: 107706W) as Statutory Auditors for a 5-year term
Auditor rotation triggered due to tenure completion of previous statutory auditor
Approved Board's Report and Management Discussion & Analysis for FY 2025-26

💡 Track the e-voting results and AGM proceedings on September 29, 2026, for adoption of FY26 financials and auditor appointment.

Statutory Auditor KPSJ & Associates Resigns w.e.f. August 14, 2026

🔵 WATCH ⭐ 6/10

MANAGEMENT 📅 14 Aug 2026, 10:51 PM

Gujarat Raffia Industries Limited announced that its statutory auditor, M/s. KPSJ & Associates LLP, has resigned effective August 14, 2026. The auditor cited increased professional commitments and new assignments requiring substantial time and resources as the reason for resignation, stepping down just one year into a five-year term ending in 2030. The outgoing auditor confirmed that the Limited Review Report for the quarter ended June 30, 2026, was completed and issued on August 13, 2026. The company will initiate the process to appoint a new statutory auditor in accordance with the Companies Act, 2013, and SEBI regulations.

M/s. KPSJ & Associates LLP resigned as Statutory Auditor effective August 14, 2026
Resignation occurs one year into a 5-year term originally approved on August 12, 2025 (tenure up to 2030 AGM)
Limited Review Report for the quarter ended June 30, 2026, was signed off on August 13, 2026, prior to resignation
Auditor stated no material reasons other than increased professional commitments and new assignments

💡 Track the board announcement for the appointment of a casual vacancy auditor and monitor the regulatory filing of Form ADT-3 with the Registrar of Companies.

Rs 0.47 Cr PAT in Q1 FY27; Revenue drops 18.5% YoY to Rs 9.39 Cr

🟡 NEUTRAL ⭐ 6/10

EARNINGS 📅 13 Aug 2026, 04:24 PM

Gujarat Raffia Industries reported a 38.2% YoY increase in Net Profit to Rs 0.47 Cr for the quarter ended June 30, 2026, despite a significant 18.5% decline in revenue from operations to Rs 9.39 Cr. The revenue contraction is even more pronounced on a sequential basis, falling 65.2% from Rs 26.99 Cr in the preceding March 2026 quarter. Profitability was supported by a 20% YoY reduction in total expenses to Rs 8.90 Cr. The company's EPS improved to Rs 0.87 from Rs 0.62 in the year-ago period.

Net Profit grew 38.2% YoY to Rs 0.47 Cr from Rs 0.34 Cr in June 2025.
Revenue from operations declined 18.5% YoY to Rs 9.39 Cr and 65.2% sequentially from Rs 26.99 Cr.
Total expenses were curtailed by 20% YoY to Rs 8.90 Cr, down from Rs 11.12 Cr.
Earnings Per Share (EPS) rose to Rs 0.87 for the quarter compared to Rs 0.62 YoY.
Other income contributed Rs 0.14 Cr to the total income of Rs 9.53 Cr.

💡 Investors should monitor if the sharp sequential revenue decline (65%) is due to seasonal agricultural cycles or competitive pressure from large petrochemical suppliers. Watch for the impact of recently completed capacity expansions on volume growth in upcoming quarters.

Gujarat Raffia: Exempt from SEBI Corporate Governance Filing for Q1 FY27

🟡 NEUTRAL ⭐ 2/10

REGULATORY 📅 20 Jul 2026, 11:59 PM

Gujarat Raffia Industries has notified the exchanges that it is exempt from filing the quarterly Corporate Governance report for the quarter ended June 30, 2026. This exemption is granted under SEBI Regulation 15(2) for companies with paid-up equity capital under ₹10 crore and net worth under ₹25 crore. As of the end of FY 2025-26, the company's net worth stood at ₹22 crore, which is below the regulatory threshold. This is a routine administrative filing typical for small-cap companies.

Exemption claimed under SEBI Regulation 15(2) for the quarter ended June 30, 2026
Company net worth of ₹22 crore is below the ₹25 crore mandatory reporting threshold
Paid-up equity share capital remains below the ₹10 crore threshold for compliance
Intimation filed on July 20, 2026, within the 21-day regulatory window

💡 Investors should monitor the company's growth; if net worth exceeds ₹25 crore, the company will be required to provide more detailed corporate governance disclosures.

1 UPSI Event Recorded: Gujarat Raffia Submits Q1 FY27 SDD Compliance Certificate

🟡 NEUTRAL ⭐ 2/10

REGULATORY 📅 20 Jul 2026, 11:48 PM

Gujarat Raffia Industries Limited has submitted its Structured Digital Database (SDD) compliance certificate for the quarter ended June 30, 2026. The company confirmed that 1 event involving Unpublished Price Sensitive Information (UPSI) was required to be captured during the quarter, and it was successfully recorded. The database is maintained internally, is non-tamperable, and includes an audit trail capable of maintaining records for 8 years. This is a routine procedural filing required under SEBI (Prohibition of Insider Trading) Regulations.

1 event involving Unpublished Price Sensitive Information (UPSI) was required to be captured and was successfully recorded.
The Structured Digital Database (SDD) is maintained internally with a non-tamperable audit trail.
The system is designed to maintain records for a mandatory period of 8 years.
Zero non-compliances were observed in the previous quarter, according to the compliance officer.

💡 No action is required as this is a routine administrative filing. Investors should focus on the company's upcoming quarterly financial results to assess operational performance.

Gujarat Raffia Submits Routine Regulation 74(5) Compliance Certificate for Q1 FY27

🟡 NEUTRAL ⭐ 2/10

REGULATORY 📅 20 Jul 2026, 10:03 PM

Gujarat Raffia Industries Limited has filed its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The document confirms that the Registrar and Transfer Agent, Accurate Securities & Registry Private Limited, has processed dematerialization requests for the quarter ended June 30, 2026. This is a standard administrative filing required by all listed companies in India. There are no financial figures or operational updates contained in this announcement.

Compliance certificate issued for the quarter ended June 30, 2026
Registrar and Transfer Agent confirmed as Accurate Securities & Registry Private Limited
Filing submitted to BSE, NSE, and CSE as per regulatory requirements
Document signed by Whole Time Director Sushma Pradeep Bhutoria on July 20, 2026

💡 This is a routine procedural filing. Investors should monitor the company's upcoming quarterly financial results for material information on business performance.

Gujarat Raffia Industries Closes Trading Window from June 1, 2026, for Q1 Results

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 29 Jun 2026, 09:00 AM

Gujarat Raffia Industries Limited has announced the closure of its trading window for all designated persons and their immediate relatives starting June 1, 2026. This action is a regulatory requirement under SEBI (Prohibition of Insider Trading) Regulations ahead of the announcement of un-audited standalone financial results for the quarter ending June 30, 2026. The window will remain closed until 48 hours after the results are officially declared. The company currently operates with a TTM revenue of Rs 89 Cr and a thin net profit margin, with TTM PAT at Rs 1 Cr.

Trading window closure begins on June 1, 2026, for the quarter ending June 30, 2026.
The restriction applies to all designated persons and their immediate relatives.
Trading window will reopen 48 hours after the declaration of the un-audited standalone financial results.
PAN of designated persons will be frozen by Central Depository Services Limited (CDSL) during this period.
The company reported a revenue of Rs 26.99 Cr and a PAT of Rs 0.41 Cr in the most recent quarter (Mar 2026).

💡 Investors should watch for the separate announcement of the Board Meeting date, which will confirm when the Q1 FY27 financial results will be released.

Gujarat Raffia Clarifies Financial Results; Q2 Revenue Jumps 377% YoY to ₹26.11 Cr

🟢 POSITIVE ⭐ 7/10

EARNINGS 📅 25 Jun 2026, 12:18 PM

Gujarat Raffia Industries Limited has responded to NSE's clarification request regarding its September 2025 financial results, confirming that comparative balance sheet data was indeed submitted. The company reported a massive surge in revenue from operations for Q2 FY26, reaching ₹26.11 crore compared to ₹5.47 crore in the same quarter last year. While the top-line growth is significant, net profit margins remain very thin, with a quarterly profit of ₹19.05 lacs. The company's total assets grew to ₹29.68 crore as of September 30, 2025.

Revenue from operations grew by 377% YoY to ₹2610.64 lacs in the quarter ended September 30, 2025.
Net profit for the half-year ended September 2025 increased to ₹52.75 lacs from ₹33.78 lacs in the previous year.
The company addressed regulatory observations from NSE, confirming compliance with SEBI Listing Regulations regarding financial formats.
Total assets increased to ₹29.68 crore as of September 30, 2025, up from ₹25.37 crore in March 2025.
The company maintains a single reportable segment as per Ind AS-108.

💡 Investors should note the exceptional revenue growth but remain cautious regarding the low net profit margins of less than 1%. Monitor if the company can translate this increased scale into better bottom-line efficiency in future quarters.

Gujarat Raffia Promoters Declare No New Share Encumbrances for FY 2025-26

🟡 NEUTRAL ⭐ 3/10

REGULATORY 📅 09 Jun 2026, 12:43 PM

The promoters of Gujarat Raffia Industries Limited have submitted an annual declaration under Regulation 31(4) of the SEBI (SAST) Regulations, 2011. The filing confirms that the promoter group did not create any new encumbrances or pledges on their shareholding, directly or indirectly, during the financial year ending March 31, 2026. This declaration covers key promoters including Pradeep Bhutoria, Sushma Bhutoria, and entities like Bengal Business LLP and Asian Gases Ltd. Such disclosures are mandatory annual compliance measures to ensure transparency in promoter shareholding patterns.

Annual declaration submitted as per Regulation 31(4) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
Promoters confirm no undisclosed encumbrances were made on company shares during the FY ending March 31, 2026.
The declaration includes the entire promoter group and promoter group entities such as Bengal Business LLP and Asian Gases Ltd.
The disclosure was officially signed and submitted on April 7, 2026, from Ahmedabad.

💡 This is a routine regulatory filing confirming the status quo of promoter share pledges; investors should focus on the company's upcoming financial results for performance cues.

Gujarat Raffia FY26 Revenue Surges 195% to ₹88.56 Cr; Net Profit Doubles to ₹1.05 Cr

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 21 May 2026, 04:09 PM

Gujarat Raffia Industries reported a massive jump in its top-line performance for the financial year ended March 31, 2026, with revenue from operations reaching ₹8,855.99 lakhs compared to ₹3,004.14 lakhs in the previous year. Net profit for the full year doubled to ₹104.68 lakhs from ₹52.22 lakhs in FY25. The fourth quarter alone saw revenue of ₹2,699.18 lakhs, a nearly 240% increase year-on-year. Despite the revenue surge, operating margins remain relatively thin, though EPS improved significantly from ₹0.97 to ₹1.94.

Annual Revenue from Operations grew by 194.8% YoY to ₹8,855.99 lakhs.
Net Profit for FY26 increased by 100.5% to ₹104.68 lakhs compared to ₹52.22 lakhs in FY25.
Q4 FY26 Revenue stood at ₹2,699.18 lakhs, up from ₹795.51 lakhs in the corresponding quarter last year.
Earnings Per Share (EPS) for the full year rose to ₹1.94 from ₹0.97.
Statutory auditors issued an unmodified opinion on the financial results.

💡 The stock shows strong growth momentum in revenue, suggesting market share gains or capacity expansion. Investors should monitor if the company can improve its net profit margins, which remain low despite the high revenue growth.

Gujarat Raffia Exempt from Filing Q4 FY26 Corporate Governance Report

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 21 Apr 2026, 10:33 PM

Gujarat Raffia Industries Limited has notified stock exchanges regarding the non-applicability of Regulation 27(2) for the quarter ended March 31, 2026. Under SEBI (LODR) Regulation 15(2), the company is exempt from filing quarterly corporate governance reports because its paid-up equity capital is below ₹10 crore and its net worth is below ₹25 crore as of the previous financial year. This is a standard regulatory provision for smaller listed entities. The company has committed to future compliance should it exceed these financial thresholds.

Exemption claimed under Regulation 15(2) of SEBI (LODR) Regulations, 2015 for the quarter ended March 31, 2026.
Company paid-up equity share capital does not exceed ₹10 crore.
Company net worth does not exceed ₹25 crore as of the last day of the previous financial year (2024-25).
Exemption applies to regulations 17 through 27, covering various board and committee compliance requirements.

💡 No action is required as this is a routine regulatory filing for small-cap companies. Investors should continue to monitor the company's financial growth and future governance disclosures.

Gujarat Raffia Reports 100% SDD Compliance for Q4 FY26

🟡 NEUTRAL ⭐ 3/10

REGULATORY 📅 21 Apr 2026, 10:16 PM

Gujarat Raffia Industries Limited has filed its Structured Digital Database (SDD) compliance certificate for the quarter ended March 31, 2026. The company confirms full adherence to SEBI (Prohibition of Insider Trading) Regulations, ensuring that all Unpublished Price Sensitive Information (UPSI) is tracked with a non-tamperable audit trail. During this period, the company identified 2 specific UPSI events and successfully captured both in its internal database. This routine filing demonstrates the company's commitment to regulatory transparency and internal controls.

Confirmed 100% compliance with SEBI PIT Regulations for the quarter ended March 31, 2026
Successfully captured 2 out of 2 required UPSI events in the Structured Digital Database
Maintains a non-tamperable internal database with an audit trail capability for 8 years
Reported zero non-compliance issues for both the current and previous quarters

💡 This is a routine regulatory filing indicating sound corporate governance and compliance with insider trading laws. No immediate investment action is required based on this announcement.

Gujarat Raffia Submits Q4 FY26 SEBI Regulation 74(5) Compliance Certificate

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 21 Apr 2026, 09:26 PM

Gujarat Raffia Industries Limited has submitted its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. The certificate, issued by its Registrar and Transfer Agent (RTA), Accurate Securities & Registry Private Limited, covers the period from January 1, 2026, to March 31, 2026. It confirms that share certificates received for dematerialization were processed, mutilated, and cancelled within the required timeframes. This filing is a standard regulatory requirement to ensure the integrity of the dematerialization process.

Compliance certificate submitted for the quarter ended March 31, 2026.
RTA confirmed processing of dematerialization requests within SEBI-stipulated time limits.
Physical securities received were mutilated and cancelled after due verification by the registrar.
The name of the depositories has been substituted in the register of members as the registered owner.

💡 No action is required as this is a routine regulatory filing confirming standard operational compliance regarding share dematerialization.

View All GUJRAFFIA Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Total income for the half-year ended September 30, 2025, reached INR 37.75 Cr. Specific segment-wise revenue splits were not disclosed, but the company highlights growth in domestic markets for tarpaulin, fabric, and sacks.

Profitability Margins

Profit before tax (PBT) margin for the half-year ended September 30, 2025, was approximately 1.88% (INR 0.71 Cr PBT on INR 37.75 Cr total income).

EBITDA Margin

Estimated EBITDA margin for the half-year ended September 30, 2025, is 5.79%, calculated from PBT (INR 0.71 Cr) plus Depreciation (INR 1.12 Cr) and Finance Costs (INR 0.35 Cr).

Capital Expenditure

The company planned to complete plant capacity expansions by the end of FY 2024-25. Depreciation increased by 65.6% YoY to INR 1.12 Cr for the half-year ended September 2025, reflecting significant recent asset additions.

Credit Rating & Borrowing

Not disclosed. Non-current borrowings were INR 2.18 Cr as of September 30, 2025, a reduction of 22.6% from INR 2.82 Cr in the previous year.

⚙️ Operational Drivers

Raw Materials

Petrochemical-based polymers (PP/PE) represent the primary raw material cost, estimated at 82% of total income (INR 30.95 Cr for H1 FY26).

Key Suppliers

Not disclosed; documents refer generally to large petrochemical manufacturers.

Capacity Expansion

Plant capacity expansions were scheduled for completion by the end of FY 2024-25 to drive growth in domestic tarpaulin and fabric markets.

Raw Material Costs

Raw material and manufacturing-related costs totaled INR 30.95 Cr for the half-year ended September 30, 2025, representing approximately 82% of total income.

📈 Strategic Growth

Growth Strategy

The company plans to achieve growth through the completion of plant capacity expansions by the end of 2024-25. It is targeting increased demand in domestic markets for tarpaulin, fabric, and sacks, specifically driven by the expansion of food-grain packaging by government agencies and a significant presence in the fertilizer and agriculture sectors.

Products & Services

Tarpaulin, HDPE/PP woven fabric, and sacks used for food-grain and fertilizer packaging.

Market Expansion

Targeting domestic markets for tarpaulin, fabric, and sacks, particularly in the fertilizer and agriculture sectors.

🌍 External Factors

Industry Trends

The industry is seeing a shift towards increased government procurement for food-grain packaging, which is expected to drive domestic demand for sacks and fabric. Despite a global slowdown, the domestic market for tarpaulin remains optimistic due to its applications in agriculture.

Competitive Landscape

Large petrochemical manufacturers provide significant competition due to their scale and lower cost structures for raw materials.

Competitive Moat

The company's moat is based on its established presence in the fertilizer and agriculture sectors and its ability to secure government-driven packaging contracts, providing a competitive foothold in the domestic market.

Macro Economic Sensitivity

Sensitive to global economic slowdowns and domestic agricultural cycles.

Geopolitical Risks

Global slowdown mentioned as a potential risk factor affecting industrial demand.

⚖️ Regulatory & Governance

Industry Regulations

Compliance with Ind AS and GST regulations is required; however, GST reconciliation was pending as of the last audit.

Taxation Policy Impact

The company reported a tax provision of INR (18.35) lacs for the half-year ended September 30, 2025.

Legal Contingencies

As of March 31, 2025, balances with revenue authorities and unpaid duties/taxes related to GST are pending reconciliation. The company has also not provided for or quantified deferred tax assets/liabilities.