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MORARJEE - Morarjee Text.

📊 NSE: MORARJEE 🏢 Textiles - Products 📅 Last Updated: 12/14/2025 9:59

📢 Recent Corporate Announcements

Morarjee Textiles Schedules 35th Committee of Creditors Meeting Under CIRP

🔴 NEGATIVE ⭐ 8/10

LEGAL 📅 10 Mar 2026, 11:26 AM

Morarjee Textiles Limited has scheduled its 35th Committee of Creditors (CoC) meeting for March 10, 2026. The company has been undergoing the Corporate Insolvency Resolution Process (CIRP) since February 9, 2024, following an order from the NCLT Mumbai. Currently, the company's business and assets are managed by Resolution Professional Ravi Sethia. This meeting is a continuation of the long-standing insolvency proceedings aimed at resolving the company's outstanding debts.

35th Meeting of the Committee of Creditors (CoC) to be held on March 10, 2026
Company has been under Corporate Insolvency Resolution Process since February 9, 2024
Resolution Professional Ravi Sethia was confirmed by the CoC on May 22, 2024
Meeting is conducted under the provisions of the Insolvency and Bankruptcy Code, 2016

💡 Investors should remain highly cautious as the company is in a deep insolvency process where equity shareholders typically face significant risk of total loss. Monitor for any announcements regarding the approval of a resolution plan or potential liquidation.

Morarjee Textiles Conducts 34th Committee of Creditors Meeting Under Insolvency Process

🔴 NEGATIVE ⭐ 8/10

LEGAL 📅 26 Feb 2026, 07:18 PM

Morarjee Textiles Limited has successfully conducted its 34th Committee of Creditors (CoC) meeting on February 16, 2026. The company has been under the Corporate Insolvency Resolution Process (CIRP) since February 9, 2024, following an order by the NCLT Mumbai. Currently, the company's business and assets are managed by Resolution Professional Ravi Sethia. These ongoing meetings are critical for determining the future of the company and the potential recovery for stakeholders.

34th meeting of the Committee of Creditors (CoC) held on February 16, 2026
Company remains under Corporate Insolvency Resolution Process since February 9, 2024
Ravi Sethia confirmed as Resolution Professional since May 22, 2024
Disclosure made under Regulation 30 of SEBI (LODR) and Insolvency and Bankruptcy Code 2016

💡 Investors should remain highly cautious as equity value is typically significantly diluted or erased during insolvency resolutions. Monitor for any updates regarding the approval of a final resolution plan by the NCLT.

Morarjee Textiles to Hold 33rd Committee of Creditors Meeting on January 16, 2026

🔴 NEGATIVE ⭐ 8/10

LEGAL 📅 14 Jan 2026, 09:06 PM

Morarjee Textiles Limited has scheduled the 33rd meeting of its Committee of Creditors (CoC) for January 16, 2026. The company has been undergoing the Corporate Insolvency Resolution Process (CIRP) since February 9, 2024, following an NCLT Mumbai order. Currently, the company's operations and assets are managed by Resolution Professional Ravi Sethia, who was confirmed by the CoC on May 22, 2024. This meeting is a critical step in the ongoing insolvency proceedings to determine the company's future and debt resolution.

33rd meeting of the Committee of Creditors (CoC) scheduled for January 16, 2026, at 12:00 p.m.
Company has been under Corporate Insolvency Resolution Process (CIRP) since February 9, 2024.
Ravi Sethia was confirmed as the Resolution Professional by the CoC on May 22, 2024.
The meeting is conducted under the provisions of the Insolvency and Bankruptcy Code, 2016.

💡 Investors should remain extremely cautious as equity shareholders typically face significant value erosion or total loss during insolvency resolutions. Monitor for any announcements regarding the approval of a resolution plan by the CoC and NCLT.

Morarjee Textiles Conducts 31st Committee of Creditors Meeting Amid Insolvency Process

🔴 NEGATIVE ⭐ 7/10

LEGAL 📅 19 Dec 2025, 05:45 PM

Morarjee Textiles Limited held its 31st Committee of Creditors (CoC) meeting on October 16, 2025, as part of its ongoing Corporate Insolvency Resolution Process (CIRP). The company has been under insolvency since February 9, 2024, following an order by the NCLT Mumbai. Currently, the company's affairs and assets are managed by Resolution Professional Ravi Sethia, who was confirmed in the role on May 22, 2024. These proceedings are critical as they will determine the eventual fate of the company and its debt obligations.

31st meeting of the Committee of Creditors (CoC) was held on October 16, 2025
Company has been under CIRP since the NCLT order dated February 9, 2024
Ravi Sethia was confirmed as the Resolution Professional by the CoC on May 22, 2024
The meeting was conducted in compliance with SEBI LODR Regulation 30 and IBC 2016 provisions

💡 Investors should exercise extreme caution as equity value is typically significantly diluted or completely wiped out during insolvency resolutions. It is advisable to monitor for any approved resolution plans that might impact the company's listing status.

Morarjee Textiles Conducts 31st Committee of Creditors Meeting for Insolvency Resolution

🔴 NEGATIVE ⭐ 8/10

LEGAL 📅 19 Dec 2025, 05:42 PM

Morarjee Textiles Limited, which has been under the Corporate Insolvency Resolution Process (CIRP) since February 2024, held its 31st Committee of Creditors (CoC) meeting on October 16, 2025. The company's affairs and assets continue to be managed by Resolution Professional Mr. Ravi Sethia following the NCLT Mumbai order. This meeting is a part of the ongoing legal process to determine the future of the company and its debt obligations. Equity shareholders remain at high risk as the insolvency process prioritizes creditor recoveries.

The 31st Meeting of the Committee of Creditors (CoC) was successfully held on October 16, 2025.
Company has been under the Corporate Insolvency Resolution Process (CIRP) since the NCLT order dated February 9, 2024.
Mr. Ravi Sethia remains the confirmed Resolution Professional as of May 22, 2024.
The meeting was conducted in accordance with Regulation 30 and Schedule III of SEBI LODR regulations.

💡 Investors should exercise extreme caution as insolvency proceedings often result in significant equity dilution or total loss for retail shareholders. Monitor for any updates regarding the approval of a resolution plan or potential liquidation.

View All MORARJEE Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Total income declined by 23.89% from INR 273.51 Cr in FY22 to INR 208.16 Cr in FY23. Segment-specific growth percentages are not disclosed in the available documents.

Profitability Margins

Operating Profit Margin deteriorated from -5.7% to -35.3% in FY23. Net Profit Margin fell from -32.4% to -89.6% due to lower turnover failing to cover fixed expenses and a significant increase in interest costs.

EBITDA Margin

EBITDA margin was -24.27% in FY23 (INR -50.53 Cr) compared to 2.64% (INR 7.23 Cr) in FY22, representing a sharp decline in core profitability due to operational headwinds and lower capacity utilization.

Capital Expenditure

Property, Plant and Equipment stood at INR 386.79 Cr as of March 31, 2023, down from INR 408.65 Cr in the previous year. Planned Capex is not disclosed due to the ongoing Corporate Insolvency Resolution Process (CIRP).

Credit Rating & Borrowing

The company's debt has been classified as Non-Performing Assets (NPA) by lenders. Interest costs increased by 9.85% to INR 79.60 Cr in FY23 despite the financial distress.

⚙️ Operational Drivers

Capacity Expansion

Current installed capacity is not specified; however, the company has historically invested in its manufacturing plant to align with latest technology. No expansion is planned as the company is under CIRP.

Raw Material Costs

Raw material costs are not explicitly broken down as a percentage of revenue, but the company noted that raw material availability and cost are critical factors impacting operations.

Manufacturing Efficiency

Manufacturing efficiency has been severely impacted by lower turnover and industrial strikes, leading to an inability to cover fixed costs.

📈 Strategic Growth

Expected Growth Rate

Growth Strategy

The company is currently under the Corporate Insolvency Resolution Process (CIRP) as of February 9, 2024. Growth is currently non-existent as the focus is on debt resolution and finding a resolution applicant through the NCLT process. The Resolution Professional is managing affairs to maintain the company as a going concern.

Products & Services

High-end cotton textiles and apparel fabrics.

Brand Portfolio

Morarjee.

Strategic Alliances

The company has an investment in a Joint Venture valued at INR 0.44 Cr as of March 31, 2023.

🌍 External Factors

Industry Trends

The industry is shifting toward sustainability and eco-friendly practices. The textile business is cyclical on the supply side due to high capital intensity, requiring large expenditures at specific times to remain competitive.

Competitive Landscape

The company operates in a highly competitive and capital-intensive textile market, currently losing ground due to financial instability and insolvency.

Competitive Moat

The company's moat was historically based on its long-standing brand and technological investments, but this has been eroded by a negative net worth and accumulated losses of INR 303.77 Cr.

Macro Economic Sensitivity

Highly sensitive to global economic activity, inflation, and cost-of-living crises which reduce discretionary spending on apparel.

Consumer Behavior

Increasing consumer pressure for sustainable and eco-friendly fashion practices is a key trend affecting long-term demand.

Geopolitical Risks

Russia’s invasion of Ukraine and geopolitical tensions are cited as factors weighing heavily on the economic outlook and triggering financial stress.

⚖️ Regulatory & Governance

Industry Regulations

Operations are governed by the Insolvency and Bankruptcy Code (IBC) 2016 since the initiation of CIRP. Compliance with Section 123 of the Companies Act regarding dividends was not applicable as no dividends were declared.

Taxation Policy Impact

Deferred Tax Assets (Net) stood at INR 30.41 Cr as of March 31, 2023.

Legal Contingencies

The company is under CIRP following an order by NCLT Mumbai dated February 9, 2024 (CP(IB) No. 1318/MB-VI/2022). Lenders and operational creditors have filed for recall of debt and legal recourse. Accumulated losses of INR 303.77 Cr have resulted in complete erosion of net worth.

⚠️ Risk Analysis

Key Uncertainties

The primary uncertainty is the 'Going Concern' status, with auditors issuing a qualified opinion due to material uncertainty regarding the company's ability to meet liabilities falling due within one year.

Third Party Dependencies

High dependency on financial creditors who have classified debt as NPA and served recall notices.

Technology Obsolescence Risk

While the company has historically invested in technology, the current lack of capital expenditure (Capex) poses a risk of falling behind in manufacturing competitiveness.

Credit & Counterparty Risk

Trade receivables fell significantly to INR 5.22 Cr in FY23 from INR 20.94 Cr, though the Debtor Turnover Ratio improved to 11 times due to faster realizations.