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RSWM - RSWM Ltd

📊 NSE: RSWM 🏢 Textiles - Cotton/Blended 📅 Last Updated: 12/14/2025 12:29

📢 Recent Corporate Announcements

RSWM Limited Sched ule s Q4 & FY26 Ear ning s Con f er en ce Cal l for May 07, 2026

🟡 NEUTRAL ⭐ 4/10

EARNINGS 📅 30 Apr 2026, 11:51 AM

RSWM Limited has an noun ce d its ear ning s con f er en ce cal l to dis cus s the audited fin an cial res ults for the four th quar ter an d ful l fis cal year en din g Mar ch 31, 2026. The cal l is sched ule d for Th ur s day, May 07, 2026, at 4:00 PM IS T. Sen ior man ag em en t wil l dis cus s the com pan y's fin an cial per for man ce an d an s wer in ves tor ques tion s. The com pan y wil l al so rel eas e a pr es s rel eas e an d in ves tor pr es en tation pr ior to the cal l.

Con f er en ce cal l sched ule d for May 07, 2026, at 16:00 hour s IS T.
Focus wil l be on Audited Fin an cial Res ults for Q4 an d ful l fis cal year FY26.
Un iver s al dial-in num ber s pr ovid ed ar e 022 6280 1341 an d 022 7115 8242.
In ves tor pr es en tation an d pr es s rel eas e to be made avail abl e on the com pan y webs ite.

💡 In ves tor s shoul d at ten d the cal l or review the tr an s cr ip t to un der s tan d man ag em en t's outlook on the tex til e sec tor an d futur e guid an ce. Pay clos e at ten tion to mar gin tr en ds an d deb t level s repor te d in the ful l-year res ults.

RSWM Limited to Raise ₹36.06 Crore via Preferential Issue for Subsidiary Project

🟢 POSITIVE ⭐ 7/10

FUNDRAISE 📅 21 Apr 2026, 06:00 PM

RSWM Limited has issued a corrigendum to its Extraordinary General Meeting (EGM) notice regarding a proposed preferential issue totaling ₹36.06 Crores. The primary objective of this fundraise is to infuse ₹27.06 Crores into its wholly-owned subsidiary, LNJ Greenpet Private Limited, for an ongoing 'Bottle to Bottle' recycling project. The remaining ₹9.00 Crores are earmarked for general corporate purposes. This clarification follows observations from the National Stock Exchange (NSE) regarding the initial EGM notice.

Total preferential issue amount set at ₹36.06 Crores
₹27.06 Crores allocated to subsidiary LNJ Greenpet Private Limited for a recycling project
₹9.00 Crores designated for general corporate purposes
Corrigendum issued in response to specific observations from the National Stock Exchange (NSE)
Extraordinary General Meeting (EGM) scheduled for May 8, 2026, to seek shareholder approval

💡 Investors should monitor the pricing and allotment details of the preferential issue as it will lead to equity dilution. The investment in the 'Bottle to Bottle' project suggests a strategic focus on sustainable textile solutions which could benefit long-term ESG positioning.

RSWM to Issue 24.7 Lakh Convertible Warrants to Promoters at Rs 146 Each

🟢 POSITIVE ⭐ 7/10

FUNDRAISE 📅 15 Apr 2026, 02:20 PM

RSWM Limited has scheduled an Extraordinary General Meeting (EGM) for May 8, 2026, to seek approval for a preferential issue of 24,70,000 convertible warrants to the promoter group entity, LNJ Textiles Advisory LLP. The warrants are priced at Rs 146 per unit, which includes a premium of Rs 136, implying a total potential capital infusion of approximately Rs 36.06 crore. Subscribers will pay 25% of the total consideration upfront, with the remaining 75% payable upon conversion into equity shares within an 18-month window. This move signals strong promoter commitment and provides the company with additional liquidity.

Proposed issuance of 24,70,000 convertible warrants to M/s LNJ Textiles Advisory LLP (Promoter Group)
Issue price fixed at Rs 146 per warrant, including a premium of Rs 136 per share
Total fundraise estimated at approximately Rs 36.06 crore upon full conversion
25% of the warrant price is payable at allotment, with the balance 75% due within 18 months
The relevant date for the pricing of the preferential issue is April 8, 2026

💡 Investors should view the promoter's capital infusion at a fixed price as a sign of long-term confidence in the company's valuation. Monitor the EGM outcome and subsequent utilization of funds for growth or debt reduction.

RSWM Receives High Court Order on ₹11.07 Crore Electricity Duty Dispute

🔵 WATCH ⭐ 6/10

LEGAL 📅 13 Apr 2026, 07:29 PM

RSWM Limited has received an order from the Rajasthan High Court regarding its appeal against the levy of electricity duty on captive solar power consumption. The dispute involves a principal amount of ₹11.07 crores plus a Late Payment Surcharge (LPS). The company stated that the court has disposed of the appeal, and they are now evaluating the order to file a further appeal with appropriate authorities. Crucially, the company had already recorded this amount as a contingent liability in its books, meaning the potential financial impact was previously identified.

Rajasthan High Court disposed of the company's appeal regarding electricity duty on solar power captive consumption.
The total disputed amount is ₹11.07 crores plus Late Payment Surcharge (LPS).
The liability was already disclosed as a contingent liability in the company's financial statements.
RSWM is currently consulting with legal counsel to explore further legal remedies and appeals.

💡 Investors should monitor the progress of the subsequent appeal as a final unfavorable ruling would result in a cash outflow of over ₹11 crore. However, since the amount is already a contingent liability, there is no immediate surprise to the balance sheet.

RSWM Limited to Receive Income Tax Refund of ₹24.97 Crore

🟢 POSITIVE ⭐ 6/10

REGULATORY 📅 10 Apr 2026, 05:58 PM

RSWM Limited has received favorable appeal effect orders from the Income Tax Department following the dismissal of revenue appeals by the ITAT, Jodhpur. The company is entitled to receive total refunds amounting to ₹24.97 crore, which includes interest components. This refund pertains to Assessment Years 2011-12 and 2013-14. The cash inflow is expected to improve the company's liquidity position and will be reflected in its financial statements.

Total income tax refund receivable amounts to ₹24.97 crore including interest
Refund for Assessment Year 2011-12 is quantified at ₹12.73 crore
Refund for Assessment Year 2013-14 is quantified at ₹12.24 crore
The orders follow the dismissal of appeals filed by the Revenue Department before the ITAT, Jodhpur

💡 This is a positive one-time event that will boost the company's cash reserves. Investors should view this as a liquidity positive, though it does not impact the core operational performance of the textile business.

RSWM Board Approves Rs 36.06 Cr Fundraise via Preferential Issue to Promoters

🟢 POSITIVE ⭐ 7/10

FUNDRAISE 📅 09 Apr 2026, 04:57 PM

RSWM Limited's board has approved raising Rs 36.06 crore through the issuance of 24.7 lakh convertible warrants to LNJ Textiles Advisory LLP, a promoter group entity. The warrants are priced at Rs 146 each, which includes a premium of Rs 136 and is notably higher than the market price at the time of the announcement. These warrants are convertible into equity shares within 18 months, representing a 4.98% stake on a fully diluted basis. This infusion of capital by the promoters signals strong internal confidence in the company's long-term prospects.

Fundraising of Rs 36.06 crore through the issuance of 24,70,000 convertible warrants.
Issue price set at Rs 146 per warrant, representing a premium of Rs 136 over face value.
Allotment is restricted to LNJ Textiles Advisory LLP, a member of the Promoter Group.
The promoter group will hold a 4.98% stake on a fully diluted basis post-conversion.
An Extra-Ordinary General Meeting (EGM) is scheduled for May 8, 2026, to obtain shareholder approval.

💡 Investors should take this as a positive signal as promoters are increasing their stake at a premium to the current market price. Monitor the upcoming EGM results and the company's plans for utilizing the newly raised capital.

RSWM Board Approves Rs 36.06 Cr Fundraise via Preferential Issue to Promoters

🟢 POSITIVE ⭐ 7/10

FUNDRAISE 📅 09 Apr 2026, 04:54 PM

RSWM Limited's Board has approved a preferential issue of 24,70,000 convertible warrants to LNJ Textiles Advisory LLP, a promoter group entity. The total fundraise is valued at approximately Rs 36.06 crore, with warrants priced at Rs 146 each, which includes a premium of Rs 136. These warrants are convertible into equity shares on a 1:1 basis within 18 months of allotment. This infusion of capital by the promoters at a premium to the market price signals strong internal confidence in the company's long-term prospects.

Issuance of up to 24,70,000 convertible warrants at an issue price of Rs 146 per warrant.
Total fundraise amount of Rs 36.06 crore specifically from the Promoter Group.
Warrants are convertible into equity shares within a period of 18 months from the date of allotment.
The issue price of Rs 146 was noted to be higher than the closing price on the day of the board meeting.
Post-conversion, the allottee will hold a 4.98% stake in the company on a fully diluted basis.

💡 The promoter infusion at a premium is a positive signal for shareholders, suggesting value support at current levels. Investors should monitor the upcoming EGM on May 8, 2026, for final shareholder approval.

RSWM to Raise ₹36.06 Cr via Preferential Warrant Issue to Promoters at ₹146/Share

🟢 POSITIVE ⭐ 7/10

FUNDRAISE 📅 09 Apr 2026, 04:20 PM

RSWM Limited's board has approved a fundraise of ₹36.06 crore through the issuance of 24.70 lakh convertible warrants to the promoter group entity, LNJ Textiles Advisory LLP. The warrants are priced at ₹146 each, which includes a premium of ₹136 and was noted to be higher than the closing price on the day of the announcement. Each warrant is convertible into one equity share within an 18-month period from the date of allotment. This preferential issue signals strong promoter commitment and provides the company with fresh capital for its operations or growth initiatives.

Board approved raising ₹36.06 crore through the issuance of 24,70,000 convertible warrants
Issue price set at ₹146 per warrant, including a premium of ₹136 per share
Warrants issued to promoter group entity LNJ Textiles Advisory LLP
Post-conversion, the promoter group entity will hold a 4.98% stake on a fully diluted basis
Warrants are convertible into equity shares within 18 months from the date of allotment

💡 Investors should view this as a positive signal as the promoter group is infusing capital at a premium to the market price. The infusion of ₹36.06 crore strengthens the balance sheet and demonstrates long-term promoter confidence in the company's prospects.

RSWM Receives Arbitral Award: ₹17.68 Cr Liability Provisioned, ₹29 Cr Interest Income Stalled

🔴 NEGATIVE ⭐ 6/10

LEGAL 📅 02 Apr 2026, 03:42 PM

RSWM Limited has received an arbitration award concerning disputes with LNJ Power Ventures Limited over electricity charges and interest on Compulsory Convertible Debentures (CCDs). The tribunal awarded ₹17.68 crore plus 15% interest against RSWM for power charges, though the company notes this is already provisioned in its accounts. However, the tribunal ruled that ₹29 crore in interest receivable by RSWM on CCDs is currently not payable until specific conditions are met. The company is now evaluating legal options to address the stalling of this significant receivable.

Arbitral Tribunal awarded ₹17.67 crore against RSWM for withheld electricity charges under a PPA.
RSWM is liable to pay interest at 15% on the awarded amount of ₹17.67 crore.
Interest receivable of approximately ₹29 crore on CCDs from LNJ Power Ventures was ruled not currently payable.
Management states the ₹17.67 crore liability will not impact profitability as it was already provisioned in the books.
The company is undertaking a legal evaluation to explore options regarding the ₹29 crore interest receivable.

💡 Investors should monitor the company's legal steps to recover the ₹29 crore interest income, as its delay impacts expected cash flows. While the PPA liability is provisioned, the high 15% interest rate on that award is a point of concern.

RSWM Transfers Sustainable Textile Head Mahesh Kumar Yogi to Subsidiary LNJ Greenpet

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 31 Mar 2026, 04:15 PM

RSWM Limited has announced the transfer of Shri Mahesh Kumar Yogi, who served as the Business Head & Chief Executive of the Sustainable Textile Business. Effective April 1, 2026, he will transition to the company's wholly-owned subsidiary, LNJ Greenpet Private Limited, as Business Head B2B. This strategic internal move results in his cessation as Senior Management Personnel (SMP) at the parent company level as of March 31, 2026. The shift indicates a leadership realignment within the group rather than an exit from the organization.

Shri Mahesh Kumar Yogi transferred to wholly-owned subsidiary LNJ Greenpet Private Limited.
Cessation as Senior Management Personnel of RSWM effective from close of business on March 31, 2026.
New role as Business Head B2B at the subsidiary level starting April 1, 2026.
The move is described by the company as a strategic business decision.

💡 No immediate action is required as this is an internal management realignment. Investors should monitor for the appointment of a new head for the Sustainable Textile Business at RSWM.

RSWM Re-appoints Riju Jhunjhunwala as Managing Director for 3-Year Term

🟡 NEUTRAL ⭐ 6/10

MANAGEMENT 📅 27 Mar 2026, 05:48 PM

RSWM Limited has announced the re-appointment of Shri Riju Jhunjhunwala as Managing Director for a three-year term effective from May 1, 2026, to April 30, 2029. This decision, finalized following a postal ballot, ensures leadership continuity for the textile company. Additionally, the company has approved a revision in the remuneration for Joint Managing Director Shri Rajeev Gupta. These updates reflect the board's focus on retaining experienced leadership within the LNJ Bhilwara Group.

Shri Riju Jhunjhunwala re-appointed as Managing Director for a 3-year tenure starting May 1, 2026
Remuneration for Joint Managing Director Shri Rajeev Gupta has been revised
The appointments and revisions were approved via Postal Ballot results declared on March 27, 2026
Shri Riju Jhunjhunwala continues to hold key leadership roles in other group companies including HEG Limited

💡 Investors should view this as a routine move to ensure management stability. No immediate action is required as the leadership remains unchanged.

RSWM Shareholders Approve MD Re-appointment and Remuneration Revision with 98%+ Majority

🟢 POSITIVE ⭐ 7/10

MANAGEMENT 📅 27 Mar 2026, 05:38 PM

RSWM Limited has successfully passed two key special resolutions via postal ballot with overwhelming shareholder support. Shri Riju Jhunjhunwala has been re-appointed as the Managing Director, receiving 98.39% of the total valid votes. Additionally, shareholders approved a revision in the remuneration for Joint Managing Director Shri Rajeev Gupta with 99.64% approval. These results ensure leadership continuity and governance stability for the LNJ Bhilwara Group company.

Re-appointment of Shri Riju Jhunjhunwala as Managing Director approved with 2,55,47,402 votes in favor (98.3965%)
Revision in remuneration for Joint MD Shri Rajeev Gupta passed with 2,72,72,521 votes in favor (99.6419%)
Total of 28,399 shareholders were eligible as of the cut-off date of February 20, 2026
The voting process was conducted entirely through remote e-voting from February 25 to March 26, 2026
Both resolutions were passed as Special Resolutions with the requisite majority as per the Scrutinizer's Report

💡 Investors should take confidence in the strong shareholder mandate for the existing leadership, which suggests stability in corporate strategy. No immediate portfolio action is required as these approvals maintain management continuity.

RSWM Concludes Postal Ballot for MD Re-appointment and Remuneration Revision

🟡 NEUTRAL ⭐ 6/10

MANAGEMENT 📅 26 Mar 2026, 06:02 PM

RSWM Limited has completed a postal ballot process to seek shareholder approval for two key special resolutions. The first resolution involves the re-appointment of Shri Riju Jhunjhunwala as the Managing Director of the company. The second resolution proposes a revision in the remuneration structure for Shri Rajeev Gupta, the Joint Managing Director. The voting results are scheduled to be officially declared by March 30, 2026.

Postal ballot voting period concluded on March 26, 2026, after starting on February 25, 2026.
Special Resolution 1: Re-appointment of Shri Riju Jhunjhunwala as Managing Director.
Special Resolution 2: Revision in remuneration for Joint Managing Director Shri Rajeev Gupta.
Voting results to be declared within 2 working days, specifically by March 30, 2026.

💡 Investors should monitor the final voting results on March 30 to ensure leadership continuity and assess the impact of remuneration changes on corporate governance. No immediate action is required as these are standard management procedures.

RSWM Limited Announces Trading Window Closure from April 1, 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 26 Mar 2026, 04:27 PM

RSWM Limited has officially announced the closure of its trading window for all designated persons starting April 1, 2026. This action is in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015, ahead of the upcoming financial results. The closure is intended to facilitate the consideration and approval of the audited standalone and consolidated financial results for the quarter and full financial year ending March 31, 2026. The trading window will remain closed until 48 hours after the board meeting results are made public.

Trading window closure effective from April 1, 2026, for designated persons and their relatives.
Closure pertains to the audited financial results for the quarter and year ending March 31, 2026.
The window will reopen 48 hours after the conclusion of the Board Meeting.
The specific date for the Board Meeting to approve results will be announced in due course.

💡 This is a routine regulatory filing and does not impact the company's fundamentals. Investors should monitor for the future announcement of the Board Meeting date to assess the upcoming Q4 and FY26 financial performance.

RSWM Ltd Director Brij Mohan Sharma Resigns After 15-Year Association

🟡 NEUTRAL ⭐ 4/10

MANAGEMENT 📅 19 Mar 2026, 12:14 PM

RSWM Limited has announced the resignation of Shri Brij Mohan Sharma from his role as a Non-Executive Non-Independent Director, effective March 19, 2026. The resignation was submitted via email citing personal reasons for stepping down. Sharma had a long-standing association with the company spanning 15 years. The company has stated that there are no other material reasons for the departure, and the change is effective immediately.

Shri Brij Mohan Sharma (DIN: 08195895) resigned as Non-Executive Non-Independent Director on March 19, 2026.
The director cited personal reasons for the resignation with immediate effect.
The outgoing director had been associated with the RSWM group for a period of 15 years.
No material disagreements or operational issues were cited in the resignation letter.

💡 This is a routine management change and is not expected to impact the company's strategic direction or financial performance. Investors should maintain their current positions while monitoring for new board appointments.

View All RSWM Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Overall revenue for H1 FY26 was ₹2,319 Cr, a decline of 2.3% YoY from ₹2,374 Cr. The decline was primarily driven by lower capacity utilization in the mélange and knit business segments. Q2 FY26 revenue stood at ₹1,150 Cr, down 1.4% YoY and 1.6% QoQ.

Geographic Revenue Split

Not disclosed in available documents, though the company notes a balance between domestic demand (boosted by GST rationalization) and export diversification to mitigate global headwinds.

Profitability Margins

Gross margins expanded to 37.8% in H1 FY26 (up 173 bps YoY) and reached 38.4% in Q2 FY26 (up 195 bps YoY). This improvement was driven by lower raw material costs and a shift toward a more profitable product mix. PAT margin remained stable at 0.5% for Q2 FY26.

EBITDA Margin

EBITDA margin for H1 FY26 was 6.8%, representing a 280 bps gain YoY. Absolute EBITDA for H1 FY26 rose 66.1% to ₹160 Cr. Q2 FY26 EBITDA grew 85.6% YoY to ₹79 Cr (6.8% margin) due to operational efficiencies and disciplined cost management.

Capital Expenditure

Capital Work in Progress (CWIP) stood at ₹46.10 Cr as of September 30, 2025, compared to ₹30.97 Cr in FY25, indicating ongoing investments in facilities. Property, Plant & Equipment (PPE) is valued at ₹1,380.86 Cr.

Credit Rating & Borrowing

Finance costs declined 11.5% YoY and 8.9% QoQ to ₹30.6 Cr in Q2 FY26. This was achieved through a reduction in total debt and lower interest rates. Total non-current borrowings stood at ₹484.61 Cr, while short-term borrowings were ₹947.66 Cr as of H1 FY26.

⚙️ Operational Drivers

Raw Materials

Specific raw materials include cotton, synthetic fibers, and green fiber. Lower raw material costs were a primary driver for the 195 bps expansion in gross margins during Q2 FY26.

Capacity Expansion

Current installed capacity is not specified in units, but the company reported lower capacity utilization in the mélange and knit businesses during Q2 and H1 FY26, which negatively impacted revenue.

Raw Material Costs

Gross profit rose 2.7% YoY to ₹885 Cr in H1 FY26 despite lower revenue, indicating that raw material costs as a percentage of revenue decreased, leading to a margin of 37.8%.

Manufacturing Efficiency

Operational efficiency and disciplined cost management contributed to a 318 bps YoY expansion in EBITDA margins for Q2 FY26.

📈 Strategic Growth

Growth Strategy

Growth will be driven by the 'RSWM 2.0' transformation plan, which focuses on a three-year roadmap for cost optimization, improving product and market mix through new territories, and leveraging technology and automation. The company is also monetizing non-operating assets to fund these initiatives.

Products & Services

Synthetic yarn, blended yarn, mélange yarn, cotton yarn, specialty and value-added yarns, denim fabric, synthetic fabric, and green fiber.

Brand Portfolio

LNJ Bhilwara Group (Parent), RSWM 2.0 (Strategic Initiative).

New Products/Services

The company is exploring new territories and brands under RSWM 2.0 to improve the overall market mix.

Market Expansion

Focusing on new territories and expanding the global presence to capture emerging growth opportunities.

Market Share & Ranking

RSWM is described as one of the largest textile manufacturing companies in India.

Strategic Alliances

LNJ Skills & Rozgar Private Limited (Associate - 47.30% ownership) and BG Wind Power Limited (Subsidiary - 100% ownership).

🌍 External Factors

Industry Trends

The industry is seeing a shift toward value-added yarns and technical textiles. RSWM is positioning itself through automation and 'RSWM 2.0' to remain competitive amidst global volatility.

Competitive Landscape

Competes in the global and domestic textile markets for yarns and fabrics; specific competitor names were not listed.

Competitive Moat

Moat is built on a well-diversified product portfolio across 6 segments, large-scale manufacturing facilities, and a strong parentage (LNJ Bhilwara Group). Sustainability is driven by the transition to 'green fiber' and operational agility.

Macro Economic Sensitivity

Highly sensitive to global economic conditions and domestic consumption trends. Domestic demand is currently supported by GST rationalization.

Consumer Behavior

Steady domestic consumption is supporting demand for suitings, shirtings, and denim.

Geopolitical Risks

Global headwinds and economic uncertainty are cited as factors causing a slight decline in revenue and impacting export diversification.

⚖️ Regulatory & Governance

Industry Regulations

Operations are influenced by GST rationalization and SEBI (LODR) Regulations for financial reporting.

Environmental Compliance

The company produces 'green fiber' and utilizes wind power (20 MW) to meet sustainability goals.

Taxation Policy Impact

Deferred tax liability stood at ₹66.55 Cr as of H1 FY26.

⚠️ Risk Analysis

Key Uncertainties

Global economic uncertainty and its impact on export demand; potential for continued low capacity utilization in the mélange and knit segments in Q3 FY26.