🔍

RSWM Limited (RSWM)

₹200.22 +0.06% last close, 16 Oct

📊 NSE: RSWM 🏢 Textiles - Cotton/Blended 📢 Latest filing: 16 Oct 2026 📝 Analysis written: 14 Dec 2025

Latest quarterly results (Q1 FY27)

In its latest reported quarter, Q1 FY27, RSWM's revenue was ₹1,161 Cr (-0.8% year on year, +1.7% on the previous quarter), and net profit ₹19.6 Cr (+134.8% year on year); the operating margin was 7.8%.

Q1 FY27 (₹ Cr)	Value	YoY vs Q1 FY26	QoQ
Revenue	₹1,161	-0.8%	+1.7%
Operating profit	₹90.1	+23.9%	+28.8%
Net profit	₹19.6	+134.8%	-42.2%
EPS (₹)	4.17	+134.3%	-41.9%
Operating margin	7.8%	—	—

Full quarterly financials → Results calendar →

RSWM delivery percentage

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

On Fri, 16 Oct 2026, 72.06% of the RSWM shares traded on NSE were taken to delivery, against the stock's own 20-session average of 56.61%. That is higher than usual for this stock. Turnover was only ₹23 lakh, so a handful of trades can move this figure. Volume was 0.2 times its average, well below normal.

72.06%Delivery, 16 Oct

56.61%Own 20-session average

0.2×Volume vs its average

₹200.22NSE close · +0.06%

Delivery in the last 5 sessions: 64.4% · 48.1% · 54.5% · 67.6% · 72.1%

Delivery across the market →

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

RSWM Reports 40.5% YoY Reduction in Scope 1 Emissions in FY26 Sustainability Report

🟡 NEUTRAL ⭐ 3/10

OTHER 📅 16 Oct 2026, 05:53 PM

RSWM Limited released its Sustainability Report for FY2025-26, highlighting a 40.5% YoY cut in Scope 1 emissions to 115,640 tCO2e and a 21.27% drop in combined Scope 1 and 2 emissions to 415,230 tCO2e. The textile manufacturer met approximately 60% of its overall energy needs through green sources, targeting 70% by FY2026-27. Additionally, the company processed 49,128 MT of recycled polyester (59.12% of total polyester use) and recycled about 2,372 million PET bottles annually. ICRA ESG Ratings assigned RSWM an ESG Impact Rating of 70 (Good), alongside a net-zero target set for 2050.

Scope 1 GHG emissions declined by 40.5% YoY to 115,640 tCO2e
Total Scope 1 and Scope 2 emissions reduced 21.27% to 415,230 tCO2e
Utilised green energy for around 60% of needs, targeting 70% by FY2026-27
Recycled 2,372 million PET bottles annually; recycled polyester share reached 59.12% (49,128 MT)
ICRA ESG Ratings assigned an ESG Impact Rating of 70 (Good)

💡 Track the upcoming Q2 FY27 earnings for operational performance, cost efficiencies from renewable power, and progress toward the FY27 renewable target of 70%.

RSWM Reports Nil Physical Share Transfer Re-lodgement Requests for September 2026

🟡 NEUTRAL ⭐ 1/10

ROUTINE 📅 07 Oct 2026, 05:44 PM

RSWM Limited submitted its monthly compliance report regarding the re-lodgement of transfer requests for physical shares for September 2026 pursuant to SEBI circular directives. The Registrar and Share Transfer Agent, MCS Share Transfer Agent Limited, reported zero transfer requests received, processed, approved, or rejected during the month. This filing represents standard regulatory record-keeping and carries no operational or financial significance for the company. RSWM's underlying operations remain focused on its textile manufacturing business with TTM revenue of ₹4,545 crore.

0 requests received for re-lodgement of transfer of physical shares during September 2026
0 requests processed, approved, or rejected during the reporting period
Compliance submitted in terms of SEBI Circular No. HO/38/13/11(2)2026-MIRSD-POD/l/3750/2026 dated January 30, 2026
Report provided by Registrar and Share Transfer Agent, MCS Share Transfer Agent Limited

💡 No action required. Investors should track core quarterly operating metrics and utilization recovery across the mélange and knit businesses.

RSWM Assigned ESG Impact Rating of 70 (Good) by ICRA ESG Ratings

🟡 NEUTRAL ⭐ 3/10

OTHER 📅 29 Sep 2026, 06:44 PM

RSWM Limited announced that ICRA ESG Ratings Limited has assigned it an overall ICRA ESG Impact Rating of 70, classified as 'Good'. Among individual parameters, Social scored highest at 82 ('Outstanding'), followed by Environment at 67 ('Good') and Governance at 63 ('Good'). The voluntary assessment carries annual surveillance within one year from September 29, 2026. This rating does not alter financial debt structures or capital expenditure plans but provides an external sustainability benchmark.

Overall ICRA ESG Impact rating assigned at 70 ('Good') on September 29, 2026
Social parameter scored 82, categorized as 'Outstanding'
Environment and Governance parameters scored 67 and 63 respectively, both rated 'Good'
Rating is due for periodic surveillance within 1 year from the initial letter date

💡 Track if the ESG profile aids international client acquisition or green financing terms under the company's RSWM 2.0 transformation roadmap.

RSWM Reports Nil Physical Share Transfer Re-Lodgement Requests for August 2026

🟡 NEUTRAL ⭐ 1/10

ROUTINE 📅 08 Sep 2026, 06:06 PM

RSWM Limited has submitted its monthly compliance report regarding the re-lodgement of transfer requests for physical shares for August 2026, pursuant to SEBI regulations. As per the report from Registrar and Share Transfer Agent MCS Share Transfer Agent Limited, zero requests were received, processed, approved, or rejected during the month. This is a purely procedural regulatory filing with no financial or operational impact on the company.

0 requests received for re-lodgement of physical share transfers during August 2026
0 requests processed, approved, or rejected during the month
Report submitted pursuant to SEBI Circular dated January 30, 2026
Report issued by Registrar and Share Transfer Agent MCS Share Transfer Agent Limited dated September 8, 2026

💡 No action is required as this is a recurring procedural filing; investors should track core operational metrics and upcoming quarterly earnings.

RSWM Assigned Unsolicited ESG Rating of 59 by ESG Risk Assessments & Insights

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 03 Sep 2026, 10:16 PM

ESG Risk Assessments & Insights Limited, a SEBI-registered ESG rating provider, has voluntarily assigned an ESG rating of 59 to RSWM Limited on September 2, 2026. The rating was evaluated based solely on publicly available information. RSWM stated that it has not verified any data used in this voluntary assessment. The disclosure does not impact the company's financial operations or debt profile.

Assigned an ESG rating of 59 on September 2, 2026
Rating provider: ESG Risk Assessments & Insights Limited (SEBI-registered)
Rating was voluntarily assigned based entirely on publicly available data
Company has not verified the underlying data used for the assessment

💡 This is a routine informational filing with no action required; continue tracking quarterly utilization levels and progress under the RSWM 2.0 transformation roadmap.

RSWM Concludes 65th AGM; Tables ESOP Plan 2026 and FY26 Financials for Shareholder Approval

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 26 Aug 2026, 07:55 PM

RSWM Limited concluded its 65th Annual General Meeting on August 26, 2026, held via video conferencing. Key resolutions placed before shareholders included the adoption of FY26 audited accounts, re-appointment of directors, and approval of the RSWM Limited Employee Stock Option Plan 2026 for company and subsidiary employees. Combined voting results along with the Scrutinizer's report will be declared on or before August 28, 2026.

Conducted 65th Annual General Meeting on August 26, 2026, with full quorum present via VC/OAVM.
Tabled 6 resolutions including adoption of FY26 financial statements and director re-appointments.
Proposed approval and implementation of RSWM Limited Employee Stock Option Plan 2026.
Final scrutinizer voting results to be disclosed on or before August 28, 2026.

💡 Track the filing of final scrutinizer voting results within two working days to verify approval of the ESOP Plan 2026.

RSWM Concludes 65th AGM; Tables Resolutions for ESOP Plan 2026 and Director Re-appointments

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 26 Aug 2026, 07:53 PM

RSWM Limited conducted its 65th Annual General Meeting (AGM) on August 26, 2026, via Video Conferencing. Key resolutions presented for shareholder approval included the adoption of FY26 financial statements, re-appointment of directors retiring by rotation, and the implementation of the RSWM Limited Employee Stock Option Plan 2026 for eligible employees of the company and its subsidiaries. Scrutinizer voting results will be disclosed within two working days (on or before August 28, 2026).

65th Annual General Meeting held on August 26, 2026, via VC/OAVM
Special resolutions proposed for formulation and implementation of RSWM Limited Employee Stock Option Plan 2026
Re-appointment of directors Shri Ravi Jhunjhunwala and Shri Arun Kumar Churiwal tabled for approval
Final e-voting results and Scrutinizer's Report to be announced on or before August 28, 2026

💡 Track the final voting results on the stock exchanges to verify shareholder approval of the ESOP 2026 plan and subsequent disclosures on grant sizes or dilution terms.

JV Incorporated for ₹186.30 Cr Denim Garment Facility; RSWM Holds 74%

🟢 POSITIVE ⭐ 6/10

EXPANSION 📅 21 Aug 2026, 02:54 PM

RSWM Limited has announced the formal incorporation of its joint venture company, 'LNJ NDS9 Global Private Limited', with NDS9 Private Limited following the receipt of its Certificate of Incorporation on August 21, 2026. RSWM holds a 74% equity stake in the venture, with the remaining 26% held by NDS9. The JV is established to set up a Denim Garment facility at an estimated project cost of ₹186.30 crore (~20% of RSWM's market cap and ~4.1% of TTM revenue). The initial authorized share capital of the entity is ₹1.00 crore divided into 10,00,000 equity shares of ₹10 each.

Incorporation completed for JV entity named LNJ NDS9 Global Private Limited on August 21, 2026
Denim Garment project has an estimated cost of approximately ₹186.30 crore
RSWM holds 74% equity stake; partner NDS9 Private Limited holds 26%
Initial authorized share capital is ₹1.00 crore (10,00,000 equity shares of ₹10 each)

💡 Track progress updates on site construction, commercial timeline, capex funding breakdown (debt vs equity), and expected commercial operational date (COD).

Income Tax Department Conducts 4-Day Checking of Books at RSWM Corporate Office

🔵 WATCH ⭐ 6/10

REGULATORY 📅 14 Aug 2026, 04:32 PM

Officials from the Income Tax Department visited RSWM's corporate office from August 10 to August 13, 2026, for an inspection of the books of accounts. The company reported that the visit has concluded and management cooperated fully with the officials. While the search is over, the document does not disclose if any discrepancies were found or if any tax demand was raised. Given RSWM's thin TTM PAT of ‡63 Cr against a large revenue base of ‡4,545 Cr, any significant tax liability could materially impact the bottom line.

Income Tax officials visited the corporate office starting August 10, 2026
The inspection of books of accounts lasted 4 days, concluding on August 13, 2026
Company maintains a TTM revenue of ‡4,545 Cr with a thin OPM of 6.6%
RSWM carries a significant debt of ‡1,533 Cr as per latest financial context

💡 Investors should watch for any subsequent disclosures regarding tax demands or penalties that may arise from this inspection in future quarterly filings.

RSWM to Expand Knitting Capacity to 900 Tons/Month; Rs 92 Cr Investment Targeted for Q3 FY27

🟢 POSITIVE ⭐ 7/10

EARNINGS 📅 11 Aug 2026, 01:53 PM

RSWM Limited is executing its 'RSWM 2.0' strategy, focusing on value-added products and capacity expansion. The company is investing Rs 92 Cr to increase knitting capacity from 650 to 900 tons per month, including a new 150-ton printing facility, with benefits expected to accrue from Q3 FY27. While the company turned profitable in FY26 with a PAT of Rs 52 Cr (vs a loss of Rs 40 Cr in FY25), it continues to manage a high debt load of Rs 1533 Cr. Management is also progressing on a sustainable bottle-to-bottle recycling project and exploring a new garmenting joint venture to leverage international trade agreements.

Knitting capacity expanding by 38% from 650 tons to 900 tons per month
Rs 92 Cr investment in knitting expansion, representing approximately 9.6% of the current market cap
Addition of 150 tons per month of new printing capacity to enrich the product mix
PET recycling project (LNJ Greenpet) targeting 75% utilization in Year 1, scaling to 90%+ by Year 3
Turnaround in FY26 performance with Rs 52 Cr PAT compared to a Rs 40 Cr loss in FY25

💡 Monitor the execution and utilization ramp-up of the expanded knitting and printing capacities starting Q3 FY27. Investors should also track the debt reduction progress, as the current D/E stands at 1.12 despite the operational turnaround.

₹186 Cr Investment: RSWM Partners with Spain's NDS9 for Industry 5.0 Garment Platform

🟢 POSITIVE ⭐ 8/10

EXPANSION 📅 11 Aug 2026, 01:14 PM

RSWM has entered a 74:26 Joint Venture with Spain-based Noize Design Studio (NDS9) to establish a next-generation garment manufacturing facility in India. The initial Phase 1 investment is estimated at ₹186 crore, focusing on a capacity of 500,000 denim garments per month. Phase 2 aims to expand total capacity to 1.5 million garments per month, including activewear. This strategic move transitions RSWM from a yarn/fabric manufacturer to an integrated, value-added apparel player targeting international brands.

Initial Phase 1 investment of approximately ₹186 crore for the new facility.
Joint Venture equity structure set at 74% for RSWM and 26% for NDS9.
Phase 1 capacity of 500,000 denim garments per month, scaling to 1.5 million in Phase 2.
Facility to integrate Industry 5.0 principles, including AI, automation, and digital manufacturing.
Targeting premium denim and activewear segments for leading international apparel brands.

💡 Monitor the execution timeline for Phase 1 commissioning and the impact of this ₹186 crore capex on the company's existing debt-to-equity ratio of 1.12. Watch for future disclosures regarding client tie-ups and margin improvements as the company shifts to value-added garments.

₹186.30 Cr Denim JV: RSWM Executes Agreement for New Garment Facility

🟢 POSITIVE ⭐ 7/10

EXPANSION 📅 11 Aug 2026, 01:10 PM

RSWM Limited has executed a Joint Venture (JV) agreement with NDS9 Private Limited to establish a Denim Garment facility with an estimated project cost of ₹186.30 crore. RSWM will hold a 74% majority stake, contributing ₹74 lakh to the initial ₹1 crore paid-up capital. The project is slated to be funded via a 70:30 debt-to-equity ratio, implying approximately ₹130 crore in new debt. This expansion is material, representing roughly 19% of the company's current market capitalization of ₹982 crore.

Estimated project cost of ₹186.30 crore for a new Denim Garment facility
RSWM to hold a 74% majority stake in the joint venture company
Initial equity subscription by RSWM of ₹74 lakh out of ₹1 crore total paid-up capital
Project funding structure targeted at 70% term loans and 30% equity contribution
Expansion cost represents approximately 19% of RSWM's current market capitalization

💡 Monitor the timeline for the incorporation of the JV and the commencement of construction. Investors should track the impact on the company's debt-to-equity ratio (currently 1.12) as the project is 70% debt-funded.

RSWM Reports Zero Physical Share Transfer Re-lodgement Requests for July 2026

🟡 NEUTRAL ⭐ 1/10

ROUTINE 📅 06 Aug 2026, 04:42 PM

RSWM Limited has filed its monthly report regarding the re-lodgement of physical share transfer requests as per SEBI's special window guidelines. For the month of July 2026, the company reported zero requests received, processed, or rejected. This is a purely administrative filing with no impact on the company's financial health or operational performance. The company continues to focus on its 'RSWM 2.0' transformation plan amidst a TTM revenue of ‹4,554 Cr.

Total number of re-lodgement requests received during July 2026 was 0
Total number of requests processed and approved during the month was 0
Average time taken for processing of requests was 0 days
Compliance is maintained as per SEBI Circular dated January 30, 2026

💡 No action is required as this is a routine procedural filing. Investors should monitor upcoming quarterly results to track the progress of the 'RSWM 2.0' cost optimization plan.

RSWM Limited releases audio recording of Q1 FY27 earnings conference call

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 05 Aug 2026, 08:18 PM

RSWM Limited has published the audio recording of its Q1 FY27 earnings conference call held on August 5, 2026. The call focused on the company's financial performance for the quarter ended June 30, 2026. This follows a recovery year in FY26 where the company posted a PAT of ₹52.18 Cr, reversing a ₹40.02 Cr loss in FY25. Investors can use this recording to gauge management's progress on the 'RSWM 2.0' transformation plan and current capacity utilization levels.

Earnings conference call conducted on August 5, 2026, at 5:30 PM IST
Discussion covered unaudited financial results for the quarter ended June 30, 2026
Company operates with a TTM revenue of ₹4,554 Cr and a market cap of ₹1,062 Cr
Management previously reported a 318 bps YoY expansion in EBITDA margins during FY26
Debt levels remain significant at ₹1,533 Cr against a net worth of ₹1,372 Cr

💡 Investors should review the recording for updates on the recovery of the mélange and knit segments, which previously faced utilization headwinds, and monitor the execution of the three-year cost optimization roadmap.

Rs 186.30 Cr Denim Garment JV Expansion with NDS9 Private Limited

🟢 POSITIVE ⭐ 7/10

EXPANSION 📅 05 Aug 2026, 05:32 PM

RSWM Limited has approved the setting up of a new Denim Garment facility with an estimated project cost of Rs 186.30 crores. The project will be executed through a new Joint Venture (JV) subsidiary, LNJ NDS9 Global Private Limited, in partnership with NDS9 Private Limited. The investment represents approximately 17.5% of RSWM's current market capitalization and 4.1% of its TTM revenue. The project is proposed to be funded via a 30:70 equity-to-debt ratio, aimed at forward integration from denim fabric to finished garments.

Total project cost estimated at Rs 186.30 crores for a new Denim Garment facility
Proposed funding structure of 30% equity and 70% debt, subject to lender stipulations
RSWM to lead manufacturing and plant operations, while NDS9 handles design and marketing
New subsidiary to be incorporated as LNJ NDS9 Global Private Limited
Strategic move to offer a 'full package' to international and domestic garment brands

💡 Monitor the timeline for the incorporation of the JV and the commencement of facility construction. Investors should track if this forward integration helps improve the current operating profit margin of 6.22%.

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.