Texmo Pipes and Products Limited (TEXMOPIPES)
₹52.08 +3.77% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Texmo Pipes' revenue was ₹117 Cr (+11.6% year on year, +20.5% on the previous quarter), and net profit ₹6.4 Cr (+23.2% year on year); the operating margin was 9.6%.
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Revenue | ₹117 | +11.6% | +20.5% |
| Operating profit | ₹11.2 | +35.1% | +47.9% |
| Net profit | ₹6.4 | +23.2% | +252.1% |
| EPS (₹) | 2.20 | +25.7% | +315.1% |
| Operating margin | 9.6% | — | — |
TEXMOPIPES delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 49.02% of the TEXMOPIPES shares traded on NSE were taken to delivery, against the stock's own 20-session average of 50.36%. That is close to its usual level. Turnover was only ₹77 lakh, so a handful of trades can move this figure. Volume was 0.4 times its average, well below normal.
Delivery in the last 5 sessions: 46.7% · 54.7% · 51.2% · 73.8% · 49.0%
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
Promoter and Managing Director Sanjay Kumar Agrawal has been allotted 5,30,000 equity shares (1.72% of post-issue capital) on a preferential basis at an issue price of Rs 45.65 per share (including a premium of Rs 35.65). The transaction injects approximately Rs 2.42 crore of equity capital into the company. Following this allotment on October 13, 2026, Agrawal's individual holding increased from 18.66% (54,48,974 shares) to 19.46% (59,78,974 shares). Total equity base expanded from 2,91,95,000 shares to 3,07,25,000 shares.
- Preferential allotment of 5,30,000 equity shares to Promoter & MD Sanjay Kumar Agrawal
- Allotment price fixed at Rs 45.65 per share (face value Rs 10 plus premium of Rs 35.65)
- Total value of the shares allotted is approximately Rs 2.42 crore
- Acquirer's holding increases from 18.66% to 19.46% of total voting capital
- Company's paid-up equity share capital increases to Rs 30.73 crore (3,07,25,000 shares)
Promoter and Managing Director Sanjay Kumar Agrawal has been allotted 5,30,000 equity shares (1.72% of post-issue capital) on a preferential basis at an issue price of Rs 45.65 per share (including a premium of Rs 35.65). The transaction injects approximately Rs 2.42 crore of equity capital into the company. Following this allotment on October 13, 2026, Agrawal's individual holding increased from 18.66% (54,48,974 shares) to 19.46% (59,78,974 shares). Total equity base expanded from 2,91,95,000 shares to 3,07,25,000 shares.
- Preferential allotment of 5,30,000 equity shares to Promoter & MD Sanjay Kumar Agrawal
- Allotment price fixed at Rs 45.65 per share (face value Rs 10 plus premium of Rs 35.65)
- Total value of the shares allotted is approximately Rs 2.42 crore
- Acquirer's holding increases from 18.66% to 19.46% of total voting capital
- Company's paid-up equity share capital increases to Rs 30.73 crore (3,07,25,000 shares)
Texmo Pipes and Products has reported a disclosure under SEBI Insider Trading regulations regarding a preferential allotment to promoter Sanjay Kumar Agrawal. The promoter was allotted 5,30,000 equity shares of the company. With the company's current market price at Rs 50.2, the allotted shares represent an equity value of approximately Rs 2.66 crore (around 1.8% of the total market capitalization of Rs 144 crore). Prior to this, promoter holding stood at 44.24% as of June 2026.
- Promoter Sanjay Kumar Agrawal allotted 5,30,000 equity shares on a preferential basis
- Filing made pursuant to Regulation 7(2) of SEBI (Prohibition of Insider Trading) Regulations, 2015
- Allotment value represents approx. Rs 2.66 crore based on the current market price of Rs 50.2
- Pre-issue promoter holding was 44.24% of total equity
Texmo Pipes and Products has reported a disclosure under SEBI Insider Trading regulations regarding a preferential allotment to promoter Sanjay Kumar Agrawal. The promoter was allotted 5,30,000 equity shares of the company. With the company's current market price at Rs 50.2, the allotted shares represent an equity value of approximately Rs 2.66 crore (around 1.8% of the total market capitalization of Rs 144 crore). Prior to this, promoter holding stood at 44.24% as of June 2026.
- Promoter Sanjay Kumar Agrawal allotted 5,30,000 equity shares on a preferential basis
- Filing made pursuant to Regulation 7(2) of SEBI (Prohibition of Insider Trading) Regulations, 2015
- Allotment value represents approx. Rs 2.66 crore based on the current market price of Rs 50.2
- Pre-issue promoter holding was 44.24% of total equity
Texmo Pipes and Products announced that an arbitral tribunal has passed an award directing the company to pay ₹25.66 crore plus 8% annual interest and costs to Larsen and Toubro Limited. The arbitrator also dismissed Texmo's counter-claims of ₹23.51 crore as being outside the arbitration agreement's purview, though permitting separate legal challenges. The awarded amount represents ~171% of Texmo's TTM net profit of ₹15 crore and ~17.6% of its market capitalization (₹146 crore), posing a substantial financial liability if enforced. Texmo stated it does not foresee operational disruption and is evaluating legal recourse to challenge the award.
- Arbitral award directs payment of ₹25.66 cr to Larsen & Toubro Limited
- Interest awarded on the claim amount at 8% per annum plus legal costs
- Company's counter-claim of ₹23.51 cr dismissed as outside arbitration scope
- Award passed on September 24, 2026, and reviewed by Board on October 13, 2026
Texmo Pipes and Products Limited has approved the preferential allotment of 15,30,000 equity shares of face value ₹10 each at an issue price of ₹45.65 per share (including a premium of ₹35.65). The total capital raised amounts to ₹6.98 crore from promoters Shri Sanjay Kumar Agrawal and Smt. Rashmi Agrawal. Consequent to this allotment, the company's total paid-up equity share capital increases from ₹29.20 crore to ₹30.73 crore. Combined holding of these two promoters increased from 34.76% to 38.01%.
- Allotment of 15,30,000 equity shares at ₹45.65 per share
- Total capital raised aggregates to ₹6,98,44,500 (approx. ₹6.98 crore)
- Issue price of ₹45.65 represents an ~10.3% discount to the recent market price of ₹50.9
- Shri Sanjay Kumar Agrawal's stake increases from 18.66% to 19.46%
- Smt. Rashmi Agrawal's stake increases from 16.10% to 18.55%
Texmo Pipes and Products Limited has approved the preferential allotment of 15,30,000 equity shares of face value ₹10 each at an issue price of ₹45.65 per share (including a premium of ₹35.65). The total capital raised amounts to ₹6.98 crore from promoters Shri Sanjay Kumar Agrawal and Smt. Rashmi Agrawal. Consequent to this allotment, the company's total paid-up equity share capital increases from ₹29.20 crore to ₹30.73 crore. Combined holding of these two promoters increased from 34.76% to 38.01%.
- Allotment of 15,30,000 equity shares at ₹45.65 per share
- Total capital raised aggregates to ₹6,98,44,500 (approx. ₹6.98 crore)
- Issue price of ₹45.65 represents an ~10.3% discount to the recent market price of ₹50.9
- Shri Sanjay Kumar Agrawal's stake increases from 18.66% to 19.46%
- Smt. Rashmi Agrawal's stake increases from 16.10% to 18.55%
Texmo Pipes and Products Limited has received in-principle approval from both NSE and BSE for the preferential issue of up to 15,30,000 equity shares. The approval was received on September 29, 2026, pursuant to Regulation 28(1) of SEBI LODR Regulations. This clears a key regulatory hurdle, enabling the company to proceed with the allotment to proposed allottees. Issue proceeds are earmarked for shareholder-approved purposes, supporting the company's financial base.
- Received in-principle approval for preferential issue of up to 15,30,000 equity shares
- Approval granted by both NSE and BSE on September 29, 2026
- Issued under Regulation 28(1) of SEBI LODR and applicable SEBI ICDR provisions
- Allotment remains subject to fulfillment of conditions outlined in the approval letters
Texmo Pipes and Products Limited announced the scrutinizer's report and voting results for its 18th Annual General Meeting held on September 11, 2026. All six resolutions—comprising three ordinary and three special resolutions—were approved by shareholders with the requisite majority. Notably, Resolution 4 regarding the issuance of equity shares on a preferential basis to promoters passed with 99.98% votes in favor (12,991,336 votes in favor vs 2,416 against). Out of 41,670 total shareholders holding 29,195,000 shares, 55 members attended the meeting via video conferencing.
- Preferential equity share issuance to promoters approved with 99.9814% votes cast in favor (12,991,336 votes)
- Overall voter participation stood at 44.51% of total equity shares (12,993,746 to 12,993,752 votes polled out of 29,195,000 shares)
- Total shareholder base stood at 41,670 members as of cut-off date September 04, 2026, with 55 members attending the AGM
- All 3 Ordinary and 3 Special resolutions passed with requisite majority, including director re-appointments and remuneration
Texmo Pipes and Products Limited announced that credit rating agency India Ratings and Research Pvt. Ltd. has reaffirmed its bank loan rating. The rating for the company's fund-based facilities stands reaffirmed at 'IND BBB+'. The reaffirmation reflects stable creditworthiness for the company, which holds total debt of Rs 29 Cr against a net worth of Rs 225 Cr (D/E of 0.13).
- India Ratings and Research reaffirmed bank loan rating as 'IND BBB+'
- Rating applies to fund-based bank loan facilities
- Filing disclosed pursuant to Regulation 30 of SEBI LODR on September 11, 2026
Texmo Pipes and Products Limited held its 18th Annual General Meeting on September 11, 2026, via video conferencing. Key resolutions put to vote included the adoption of FY26 financial statements, reappointment and remuneration of directors, and the issuance of equity shares on a preferential basis to promoters. Operational progress at its subsidiary, Shree Venkatesh Industries Private Limited in Pithampur, was also addressed. Final voting results across remote e-voting and InstaPoll will be disclosed within two working days.
- 18th AGM held on September 11, 2026, commencing at 12:30 PM and concluding at 01:18 PM
- Resolution proposed for issuance of equity shares on a preferential basis to promoters
- Remote e-voting was conducted between September 8, 2026 and September 10, 2026
- Ten members registered as speakers to review operations and future performance
Texmo Pipes and Products Limited responded to an NSE surveillance inquiry dated September 10, 2026, regarding significant movement in its share price. The company confirmed that it has no undisclosed price-sensitive information under Regulation 30 of SEBI LODR Regulations. Management stated that no significant events have occurred recently and attributed the price volatility entirely to market conditions. Consequently, there are no fundamental corporate announcements driving the trading activity.
- NSE issued a surveillance letter Ref. No. NSE/CM/Surveillance/17536 dated September 10, 2026
- Company issued its formal clarification on September 10, 2026
- Confirmed full compliance with Regulation 30 of SEBI LODR Regulations with zero undisclosed material events
- Management clarified the scrip price movement is purely market driven with no company involvement
Texmo Pipes and Products Limited has issued a corrigendum to the notice of its 18th Annual General Meeting scheduled for September 11, 2026. The filing provides explanatory additions regarding a preferential offer to promoters Mr. Sanjay Kumar Agrawal and Mrs. Rashmi Agrawal. Total proceeds of ₹698.44 lakhs (₹6.98 crore) are slated to be deployed for working capital requirements within three months. The fundraise represents approximately 5.3% of the company's market cap of ₹131 crore.
- Preferential issue proceeds of ₹698.44 lakhs to be utilized entirely for working capital requirements
- Tentative deployment timeline of issue proceeds is within three months
- Allottees are existing promoters Mr. Sanjay Kumar Agrawal and Mrs. Rashmi Agrawal
- Annual General Meeting (AGM) scheduled to be held on Friday, September 11, 2026
Texmo Pipes and Products Limited has issued a corrigendum to the notice of its 18th Annual General Meeting scheduled for September 11, 2026. The corrigendum details the preferential issue of shares to promoters Mr. Sanjay Kumar Agrawal and Mrs. Rashmi Agrawal. Issue proceeds amounting to ₹698.44 lakhs (₹6.98 crore) will be deployed towards working capital requirements within three months. Relative to the company's current market capitalization of ₹131 crore, this proposed fundraise represents approximately 5.3%.
- Corrigendum amends AGM notice for the meeting scheduled on September 11, 2026
- Preferential offer proceeds of ₹698.44 lakhs allocated entirely for working capital requirements
- Deployment timeline for the issue proceeds set within three months
- Allottees identified as promoters Mr. Sanjay Kumar Agrawal and Mrs. Rashmi Agrawal
Texmo Pipes and Products Limited has scheduled its 18th Annual General Meeting for September 11, 2026, with the record cut-off date for e-voting set as September 04, 2026. Key special business includes a proposed preferential equity issue of up to 15,30,000 shares to promoters Sanjay Kumar Agrawal and Rashmi Agrawal at ₹45.65 per share, raising ₹6.98 Cr (representing ~5.5% of its ₹127 Cr market cap). The AGM will also consider the remuneration package for Chairperson Rashmi Agrawal for the period September 1, 2026 to August 31, 2028.
- Preferential issuance of up to 15,30,000 equity shares to promoters at ₹45.65 each
- Total capital to be raised from promoters is ₹6,98,44,500 (~₹6.98 Cr)
- Issue price of ₹45.65 includes a share premium of ₹35.65 per equity share
- AGM scheduled for September 11, 2026, with voting record cut-off date on September 04, 2026
- Share transfer books and register of members closed from September 05 to September 11, 2026
Financial Performance
Revenue Growth by Segment
Total revenue from operations fell 32% YoY to INR 366.06 Cr. Segment performance: HDPE Pipe dropped 60.1% to INR 104.49 Cr, PVC Pipe fell 9.4% to INR 165.50 Cr, CPVC Pipe fell 89.3% to INR 0.07 Cr, and Trading Sale grew 19.7% to INR 36.83 Cr.
Geographic Revenue Split
Not disclosed in available documents, though operations are primarily centered in Madhya Pradesh (Burhanpur and Pithampur).
Profitability Margins
Return on Net Worth improved to 11.65% from 7.28% (a 60.11% increase) due to higher profit after tax. Return on Capital Employed (ROCE) declined to 8.80% from 12.81% (a 31.25% decrease) due to lower EBIT and higher capital employed.
EBITDA Margin
Not explicitly disclosed, but EBIT decreased as reflected in the 31.25% drop in ROCE.
Capital Expenditure
Consolidated purchase of Property, Plant and Equipment and Intangibles was INR 5.39 Cr (INR 538.67 lakhs) for the period.
Credit Rating & Borrowing
The company maintains a credit rating of 'IND BBB+' for its fund-based facilities.
Operational Drivers
Raw Materials
Key raw materials include PVC, HDPE, and CPVC resins, which are subject to significant price volatility.
Capacity Expansion
Subsidiary 'Shree Venkatesh Industries Private Limited' completed its first full year of operations in Pithampur, Indore region, adding new products to the manufacturing portfolio.
Raw Material Costs
Raw material price volatility impacts end-users as costs are passed down; prices are currently showing slight improvement which is expected to positively impact revenue outlook.
Strategic Growth
Growth Strategy
Growth is targeted through the expansion of the product range at the Pithampur subsidiary and leveraging improving raw material price trends to stabilize margins and operational outlook.
Products & Services
PVC Pipes, HDPE Pipes, CPVC Pipes, CPVC Fittings, Moulding Fittings, and Roto Water Tanks.
Brand Portfolio
Texmo.
New Products/Services
The subsidiary in Pithampur is manufacturing and adding 'other products' to its portfolio following its first full year of operations.
Market Expansion
Expansion focused on the Indore region through the Pithampur industrial area facility.
External Factors
Industry Trends
The industry is currently facing volatility but raw material prices are slightly improving, which is expected to develop a positive revenue and operational outlook.
Competitive Landscape
The company operates in a market with both organized and unorganized sectors, where raw material price fluctuations impact competitive positioning.
Competitive Moat
Moat is supported by a strong internal control framework using SAP ERP and a permanent workforce of 331 employees to ensure operational efficiency.
Macro Economic Sensitivity
Highly sensitive to unseasonal rainfall and volatility in global raw material prices which affect the plastic products industry.
Consumer Behavior
Demand is affected by the ability of manufacturers to pass down costs to end-users in the downstream industry.
Regulatory & Governance
Industry Regulations
Compliance with Ind AS 108 (Segment Reporting), SEBI LODR Regulations, and the Companies Act 2013.
Taxation Policy Impact
Direct taxes paid (Net) amounted to INR 2.04 Cr (INR 204.33 lakhs).
Legal Contingencies
The company paid a penalty of INR 0.25 Cr (INR 25 Lakhs) under SEBI Regulation in FY23 for matters related to FY12. There are pending litigations regarding uncertain tax positions under direct and various indirect tax laws.
Risk Analysis
Key Uncertainties
Raw material price volatility and unpredicted rainfall are primary risks that can significantly impact operational results, as seen in the 32% revenue decline.
Geographic Concentration Risk
Operations are concentrated in Madhya Pradesh, specifically Burhanpur and the Indore region (Pithampur).
Technology Obsolescence Risk
The company uses SAP - Enterprise Resources Planning software to mitigate digital and accounting risks.
Credit & Counterparty Risk
Trade Receivable Turnover Ratio fell 42.18% to 5.12, indicating slower collections and increased credit exposure.
