Mahalaxmi Rubtech Limited (MHLXMIRU)
₹179.11 -1.44% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Mahalaxmi Rubtech's revenue was ₹31.5 Cr (+25.9% year on year, +6.7% on the previous quarter), and net profit ₹5.8 Cr (+29.9% year on year); the operating margin was 23.4%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹31.5 | +25.9% | +6.7% |
| Operating profit | ₹7.4 | +11.4% | -0.7% |
| Net profit | ₹5.8 | +29.9% | +6.2% |
| EPS (₹) | 5.43 | +29.6% | +6.1% |
| Operating margin | 23.4% | — | — |
MHLXMIRU exchange data
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📢 Recent Corporate Announcements
Mahalaxmi Rubtech Limited has submitted its confirmation certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The certificate was issued by Registrar and Share Transfer Agent MUFG Intime India Private Limited for the second quarter ended September 30, 2026. The RTA confirmed that securities received for dematerialisation during the period were duly processed and listed on stock exchanges. This is a routine quarterly compliance filing with no impact on business operations or financials.
- Compliance submission under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018
- Covers the Q2 period ended September 30, 2026
- RTA confirmation certificate dated October 3, 2026, issued by MUFG Intime India Private Limited
- Submitted to BSE and NSE on October 7, 2026
Mahalaxmi Rubtech Limited announced the voting results and Scrutinizer's Report for its 35th Annual General Meeting held on September 25, 2026. All seven resolutions—including the adoption of FY26 financial statements, auditor appointments, and the revision of remuneration for Managing Director Rahul J. Parekh—were passed with requisite majorities. A total of 62 members representing 70,26,336 shares (66.16% of total paid-up share capital) cast votes via remote e-voting, with resolution approvals ranging from 99.67% to 100%.
- All 7 resolutions passed, with 66.16% of total paid-up share capital voted (70,26,336 shares).
- Resolutions 1 through 6 passed unanimously with 100.00% votes in favor.
- Resolution 7 (revision of Managing Director Rahul J. Parekh's remuneration) passed with 99.67% approval, with 23,501 votes (0.33%) cast against.
- Voting process covered by 62 participating members via remote e-voting.
Mahalaxmi Rubtech Limited has issued the notice for its 35th Annual General Meeting scheduled for September 25, 2026, via Video Conferencing. Key agenda items include the adoption of FY2025-26 audited financial statements and the re-appointment of Statutory Auditors M/s. Jain Chowdhary & Co. for a second 5-year term. Shareholders will also vote on the re-appointment of Managing Director Shri Rahul J. Parekh (retiring by rotation) and Independent Director Mr. Nehal Shah, along with ratifying a cost audit fee of Rs 80,000.
- 35th AGM scheduled for Friday, September 25, 2026, at 11:00 AM IST via VC/OAVM
- Proposed re-appointment of M/s. Jain Chowdhary & Co. as Statutory Auditors for a second 5-year term until the 40th AGM
- Ratification of Rs 80,000 remuneration for Cost Auditor M/s. Dalwadi & Associates for FY26
- Appointment of M/s Rohit Periwal And Associates as Secretarial Auditors for 3 consecutive financial years
- Managing Director Rahul J. Parekh holds 18,37,710 equity shares and is proposed for re-appointment by rotation
Mahalaxmi Rubtech Limited has announced the closure of its Register of Members and Share Transfer Books from Friday, September 18, 2026, to Friday, September 25, 2026 (both days inclusive). This closure is for the purpose of the upcoming 35th Annual General Meeting (AGM) scheduled for September 25, 2026. This is a standard annual regulatory compliance under Regulation 42 of SEBI (LODR) Regulations, 2015 with no direct operational or financial impact.
- Book closure period scheduled from Friday, September 18, 2026 to Friday, September 25, 2026 (both days inclusive)
- 35th Annual General Meeting (AGM) to be held on Friday, September 25, 2026
- Filing submitted pursuant to Regulation 42 of SEBI (LODR) Regulations, 2015
Mahalaxmi Rubtech reported a strong start to FY27 with revenue from operations growing 25.9% YoY to Rs 31.54 Cr. Net profit increased by 30% YoY to Rs 5.77 Cr, supported by a significant 55.6% reduction in finance costs to Rs 0.088 Cr. Other income also saw a substantial rise to Rs 1.43 Cr from Rs 0.63 Cr in the previous year. The company's quarterly EPS improved to Rs 5.43, reflecting healthy operational performance in its specialized technical textiles and rubber divisions.
- Revenue from operations increased 25.9% YoY to Rs 31.54 Cr
- Net Profit (PAT) grew 30% YoY to Rs 5.77 Cr
- Finance costs decreased by 55.6% YoY to Rs 0.088 Cr
- Other income rose to Rs 1.43 Cr from Rs 0.63 Cr in the previous year
- Basic EPS for the quarter improved to Rs 5.43 from Rs 4.18 YoY
Mahalaxmi Rubtech Limited has appointed M/s. Rohit Periwal & Associates as its Secretarial Auditors for a three-year term. The appointment, approved by the Board on July 28, 2026, covers the financial years 2026-27 through 2028-29. This is a standard regulatory requirement to ensure compliance with the Companies Act and SEBI regulations. The appointment is subject to shareholder approval at the upcoming Annual General Meeting.
- Appointment of M/s. Rohit Periwal & Associates for a term of 3 consecutive financial years.
- The audit term spans from FY 2026-2027 to FY 2028-2029.
- Board approval was finalized on July 28, 2026, following Audit Committee recommendations.
- The firm is peer-reviewed and led by CS Rohit Periwal (FCS: 12203, CP No.: 22021).
Mahalaxmi Rubtech Limited (MHLXMIRU) has announced the resignation of its Secretarial Auditor, M/s. Malay Desai & Associates, effective July 27, 2026. The auditor cited "pre-occupation in other assignments" as the reason for the resignation and provided a no-objection for a replacement. The company, which has a market capitalization of Rs 148 Cr and TTM revenue of Rs 144 Cr, stated that the Audit Committee and Board will appoint a new auditor in due course. This is a routine administrative change and does not impact the company's financial operations or statutory audits.
- Resignation of Secretarial Auditor M/s. Malay Desai & Associates effective July 27, 2026
- Reason for resignation cited as pre-occupation in other assignments
- Company TTM revenue stands at Rs 144 Cr with a PAT of Rs 14 Cr
- Promoter holding remains stable at 64.8% as of March 2026
Mahalaxmi Rubtech Limited has submitted its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The certificate, issued by MUFG Intime India Private Limited, confirms that share certificates received for dematerialization during the quarter ended June 30, 2026, were processed and the records updated within prescribed timelines. This is a standard administrative filing required for all listed companies to ensure the integrity of electronic shareholding records. It has no impact on the company's financial performance or operational outlook.
- Compliance certificate for the first quarter ended June 30, 2026.
- Confirmation provided by Registrar and Share Transfer Agent (RTA) MUFG Intime India Private Limited.
- Verification that dematerialized securities are listed on the stock exchanges where earlier securities were listed.
- Confirmation that mutilated and cancelled certificates were processed within prescribed timelines.
Mahalaxmi Rubtech Limited (MHLXMIRU) has responded to inquiries from BSE and NSE regarding significant volatility in its share price as of June 30, 2026. The company stated that the price movement is entirely market-driven and attributable to prevailing market conditions, with management having no knowledge of specific reasons. The company confirmed it has no undisclosed price-sensitive information and remains compliant with SEBI Regulation 30. This clarification comes against a backdrop of TTM revenue of ₹144 Cr and a TTM PAT of ₹14 Cr.
- Responded to BSE inquiry (Ref: L/SURV/ONL/PV/SJ/2026-2027/4013) and NSE inquiry (Ref: NSE/CM/Surveillance/17193) dated June 30, 2026.
- Confirmed no undisclosed price-sensitive information exists that would impact the stock price.
- Reported TTM revenue of ₹144 Cr and TTM PAT of ₹14 Cr in the latest financial context.
- Promoter holding remains steady at 64.8% as per the latest available data.
- Operating margins (OPM) stood at 16.0% with a healthy ROCE of 32.0%.
Mahalaxmi Rubtech Limited has announced the closure of its trading window for designated persons starting July 1, 2026, in compliance with SEBI Insider Trading regulations. This closure is ahead of the declaration of financial results for the first quarter ending June 30, 2026. The window will remain closed until 48 hours after the results are officially announced. This is a standard procedural filing and does not impact the company's operational fundamentals.
- Trading window closure effective from Wednesday, July 1, 2026.
- Closure pertains to the financial results for the quarter ending June 30, 2026.
- Trading window to reopen 48 hours after the declaration of Q1 FY27 results.
- TTM revenue stands at Rs 144 Cr with a PAT of Rs 14 Cr as per latest context.
Mahalaxmi Rubtech Limited has announced the re-appointment of its auditing teams for the Financial Year 2026-27 following a Board Meeting on May 28, 2026. M/s. Dalwadi & Associates will continue as Cost Auditors, while M/s. D. Trivedi & Associates, a firm with over 30 years of experience, remains the Internal Auditor. Additionally, M/s. Bhanwar Jain & Co., which has been in practice since 1998, has been re-appointed as the Tax Auditor. These appointments ensure continuity in the company's financial oversight and regulatory compliance frameworks.
- Re-appointment of M/s. Dalwadi & Associates as Cost Auditor for FY 2026-27 pursuant to Section 148.
- M/s. D. Trivedi & Associates re-appointed as Internal Auditor; the firm has over 30 years of experience in accounts and audit.
- M/s. Bhanwar Jain & Co. re-appointed as Tax Auditor for FY 2026-27, having been in practice since 1998.
- All appointments were approved by the Board of Directors in a meeting held on May 28, 2026.
Mahalaxmi Rubtech Limited (MHLXMIRU) reported a strong financial performance for the fiscal year ended March 31, 2026. Annual revenue from operations grew 21.5% to ₹111.97 crore, while net profit jumped nearly 30% to ₹21.78 crore compared to the previous year. The company maintained steady growth in the fourth quarter as well, with Q4 revenue rising 29.2% YoY to ₹29.56 crore. Earnings per share (EPS) saw a significant improvement, rising to ₹20.51 from ₹15.80 in FY25.
- Annual Net Profit for FY26 increased by 29.8% YoY to ₹21.78 crore.
- Total Revenue from operations for the full year grew to ₹111.97 crore from ₹92.12 crore in FY25.
- Q4 FY26 Revenue stood at ₹29.56 crore, representing a 29.2% growth over Q4 FY25.
- Full-year Earnings Per Share (EPS) improved significantly to ₹20.51 from ₹15.80.
- Total Equity attributable to owners increased to ₹90.67 crore as of March 31, 2026, up from ₹68.73 crore.
Mahalaxmi Rubtech Limited has successfully passed three special resolutions via postal ballot, all receiving over 99.99% approval from voting shareholders. The resolutions include the re-appointment of Mr. Balveermal Kewalmal Singhvi as an Independent Director and his continuation in the role beyond the age of 75. Additionally, shareholders approved the regularisation of Mrs. Renukaben Patel as a Non-Executive Independent Director. Total voter turnout represented 65.78% of the company's total equity, driven largely by promoter participation.
- Three special resolutions passed with 99.99% of votes cast in favor
- Total votes polled reached 6,985,973, representing 65.78% of total shares
- Mr. Balveermal Kewalmal Singhvi re-appointed and authorized to serve beyond age 75
- Mrs. Renukaben Patel regularised as a Non-Executive Independent Director
- Promoter group participation was high at 99.97% of their holding, while public participation was 2.84%
Mahalaxmi Rubtech Limited has filed its annual disclosure confirming that it does not fall under the 'Large Corporate' category as per SEBI criteria for the financial year 2025-26. This means the company is not mandated to raise 25% of its incremental borrowings through debt securities. The filing is a standard regulatory requirement and indicates that the company's outstanding long-term borrowings or market capitalization are below the thresholds set by SEBI for large entities. There are no financial penalties or outstanding debt security requirements reported.
- Company confirmed it does not meet the SEBI criteria for 'Large Corporate' status for FY 2025-26.
- Incremental borrowing requirement through debt securities is 'Not Applicable' for the current block.
- Zero penalty or fine reported for the previous block period (FY 2024-25).
- Compliance filing made pursuant to SEBI circulars dated November 2018 and October 2023.
Mahalaxmi Rubtech Limited has initiated a postal ballot process to seek shareholder approval for the re-appointment and regularization of independent directors. The primary resolution involves re-appointing Mr. Balveermal Kewalmal Singhvi for a five-year term starting April 1, 2026, and approving his continuation beyond the age of 75. Additionally, the company seeks to regularize Mrs. Renukaben Patel as an Independent Director for a one-year tenure. The e-voting period is scheduled from April 21, 2026, to May 20, 2026.
- Re-appointment of Mr. Balveermal Kewalmal Singhvi as Independent Director for a 5-year term until March 31, 2031.
- Special resolution proposed for Mr. Singhvi to continue directorship beyond the age of 75 years.
- Regularisation of Mrs. Renukaben Patel as an Independent Director for a 1-year term effective April 1, 2026.
- Remote e-voting period commences on April 21, 2026, and concludes on May 20, 2026.
- The cut-off date for determining shareholder eligibility to vote is April 17, 2026.
Financial Performance
Revenue Growth by Segment
Total income grew 20.68% YoY to INR 94.82 Cr in FY25 from INR 78.57 Cr. H1 FY26 revenue reached INR 55.02 Cr, a 24.4% increase over H1 FY25. Growth is primarily driven by the Technical Textiles and Rubber Division, while the Processing Division saw revenue of INR 56.64 Cr in FY21 and INR 51.19 Cr in 9MFY22.
Geographic Revenue Split
Exports contributed approximately 18% of total sales as of 9MFY22, up from 16% in FY21. The company is actively targeting global markets for its textile products to drive margin expansion.
Profitability Margins
Net Profit Ratio improved to 18.21% in FY25 from 14.35% in FY24, a 26.91% increase. Operating Profit Margin rose to 24.85% in FY25 from 21.05% in FY24. Profit After Tax for FY25 stood at INR 16.78 Cr compared to INR 11.27 Cr in the prior year.
EBITDA Margin
Operating Profit Margin was 24.85% in FY25, a YoY improvement of 3.80%. PBILDT margins have historically fluctuated, dropping to 9.21% in FY22 due to high input costs before recovering through the technical textiles segment.
Capital Expenditure
In FY25, the company invested INR 6.54 Cr in the purchase of Property, Plant, and Equipment (PPE) and intangible assets, compared to INR 2.90 Cr in FY24, representing a 125% increase in annual capex spend.
Credit Rating & Borrowing
Current credit rating is 'CARE BBB; Stable / CARE A3+' (revised from BBB+/A2). Finance costs for H1 FY26 were INR 0.33 Cr, down from INR 0.54 Cr in H1 FY25, reflecting a 38.8% reduction in interest outgo.
Operational Drivers
Raw Materials
Key raw materials include Polyester, Cotton, and Blended Fabrics for the textile division, along with Coal and Chemicals for the processing plant. Coal and chemicals represent a significant portion of processing costs.
Capacity Expansion
The company is undergoing a scheme of arrangement (approved March 2024) to demerge its business divisions into separate entities (Mahalaxmi Fabric Mills and Globale Tessile), which will likely reduce the standalone scale of MRT's operations.
Raw Material Costs
Cost of materials consumed in H1 FY26 was INR 24.47 Cr, representing 44.5% of operational revenue. This is an increase from INR 21.14 Cr in H1 FY25.
Manufacturing Efficiency
Return on Net Worth improved to 24.37% in FY25 from 21.08% in FY24, indicating higher capital efficiency. The company focuses on infrastructure upgradation to maintain competitiveness.
Strategic Growth
Expected Growth Rate
24%
Growth Strategy
Growth is targeted through the Technical Textiles and Rubber Division, focusing on high-margin products. The company is implementing a demerger to streamline operations and is upgrading infrastructure to meet 'fast fashion' and 'circular economy' demands while maintaining a healthy order book.
Products & Services
Printing blankets (Rubber Division), processed fabrics (Polyester, Cotton, and Blended), and technical textiles.
Brand Portfolio
Mahalaxmi RubTech, Mahalaxmi Fabric Mills, Globale Tessile.
New Products/Services
Focusing on advanced Technical Textiles and sustainable business processes to add value for stakeholders; specific new product revenue contributions are not quantified.
Market Expansion
Targeting global markets for textile products, with a focus on increasing the export contribution beyond the current 18%.
Strategic Alliances
Scheme of arrangement involves demerging divisions into Mahalaxmi Fabric Mills Private Limited and Globale Tessile Private Limited.
External Factors
Industry Trends
The industry is shifting toward advanced technical textiles and circular economy segments. MRT is positioning itself to capitalize on these through infrastructure upgrades, though slow adoption of recycling tech remains a sector-wide gap.
Competitive Landscape
Operates in a highly competitive and cyclical textile industry with significant pressure from both domestic and global players.
Competitive Moat
The company's moat is built on its specialized manufacturing capabilities in the Technical Textiles and Rubber Division (Printing Blankets), which are less commoditized than standard weaving.
Macro Economic Sensitivity
Highly sensitive to global inflation and currency volatility, which affects export earnings and requires robust financial hedging strategies.
Consumer Behavior
Increasing demand for 'fast fashion' and sustainable/recycled textile products is driving the need for technological advancement.
Geopolitical Risks
Conflicts in Europe and the Middle East are identified as key risks that subdue demand in export markets and increase logistics costs.
Regulatory & Governance
Industry Regulations
Compliance with Indian Accounting Standards (IND AS) and SEBI (LODR) Regulations. Operations are subject to environmental and pollution control standards for textile processing.
Environmental Compliance
The company faces regulatory risks associated with stringent pollution control norms for its textile processing business, requiring sustained investment in compliance infrastructure.
Taxation Policy Impact
Effective tax rate for FY25 was approximately 23.5% (INR 5.15 Cr tax on INR 21.93 Cr PBT).
Risk Analysis
Key Uncertainties
Volatility in raw material prices (coal/chemicals) and foreign exchange rates could impact margins by 3-5%. Geopolitical instability poses a risk to export volumes.
Geographic Concentration Risk
Approximately 82% of revenue is domestic, with 18% from exports. Manufacturing is concentrated in Gujarat (Sanand and Ahmedabad).
Third Party Dependencies
Dependency on promoters for unsecured loans was noted during the 2022 share buy-back to maintain liquidity.
Technology Obsolescence Risk
Slow adoption of advanced recycling and fast-fashion technologies is a noted weakness that could hinder long-term competitiveness.
Credit & Counterparty Risk
Trade receivables stood at INR 19.06 Cr as of Sept 2025. The company monitors receivables quality, with bad debts written off amounting to INR 0.10 Cr in FY25.
