Textile · Founded 1990 · www.midasglitter.com · BSE 539982 · · ISIN INE184U01012
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Business
Advance Syntex Ltd. (ASYL) operates in the Textile sector in India. As a textile company, its core business likely involves the manufacturing, processing, and potentially trading of textile products. Given "Syntex" in its name, it may have a focus on synthetic fibers, synthetic blends, or synthetic-based fabrics, alongside or instead of natural fibers like cotton. The company makes money by sourcing raw materials (fibers, yarn), converting them through processes like spinning, weaving, knitting, dyeing, and finishing into various textile products (e.g., yarn, grey fabric, processed fabric, garments), and selling these products to customers, which could include garment manufacturers, fashion brands, retailers, or other industrial users, both domestically and internationally.
Revenue Mix
Specific details regarding ASYL's key segments and revenue mix are not publicly available without access to its financial reports. However, for a typical textile company, potential segments could include:
Yarn manufacturing (synthetic, cotton, blended)
Fabric manufacturing (woven, knitted, non-woven; grey, processed)
Home textiles (e.g., bed linen, towels)
Garment manufacturing
Domestic sales vs. Exports
The proportion of revenue from each segment would depend on ASYL's specific operational focus and market strategy.
Industry
The Indian textile industry is one of the oldest and largest industries in the country, characterized by a highly fragmented structure with a mix of large integrated players and numerous small and medium-sized enterprises. It is labor-intensive and increasingly capital-intensive in certain segments, driven by both domestic consumption and exports. The industry is competitive, with players vying on cost, quality, product innovation, and supply chain efficiency. Without specific market share data or product specialization details, ASYL's exact positioning relative to peers is difficult to ascertain. It likely operates within a specific niche of the broader textile value chain (e.g., synthetic fabric production) where it competes with other domestic and potentially international players.
MOAT
Establishing a strong, durable competitive advantage (moat) in the fragmented textile industry can be challenging. ASYL's potential moats, if any, could stem from:
Cost Leadership: Achieving lower production costs through economies of scale, efficient manufacturing processes, backward integration (e.g., own yarn production), or proximity to raw material sources/markets.
Specialized Product Expertise: Developing expertise in niche synthetic fabrics or blends that offer specific performance characteristics (e.g., durability, specific textures, technical textiles).
Customer Relationships: Long-standing, sticky relationships with key B2B customers built on reliability, quality, and timely delivery.
Operational Efficiency: Superior management of inventory, supply chain, and production cycle times.
Without specific information, it is difficult to confirm if ASYL possesses any significant, sustainable competitive advantages.
Growth Drivers
Key factors that could drive ASYL's growth over the next 3-5 years, assuming it can capitalize on them, include:
Growing Domestic Consumption: Rising disposable incomes and urbanization in India drive demand for apparel, home textiles, and other textile products.
Government Support: Initiatives like the Production Linked Incentive (PLI) scheme for textiles, Amended Technology Upgradation Fund Scheme (ATUFS), and Free Trade Agreements (FTAs) can boost manufacturing and exports.
"China Plus One" Strategy: Global brands diversifying their sourcing away from China, potentially benefiting Indian textile exporters.
Increasing Demand for Synthetics: Growing preference for synthetic and blended fabrics due to their durability, ease of care, and versatility in fashion and technical textiles.
Capacity Expansion/Modernization: Investments in new technology or increased production capacity to meet rising demand.
Risks
ASYL faces several risks inherent to the textile industry:
Raw Material Price Volatility: Fluctuations in the prices of synthetic fibers (linked to crude oil) or natural fibers (like cotton) can significantly impact profit margins.
Intense Competition: Competition from both organized and unorganized players, as well as imports, can lead to pricing pressures.
Global Demand & Economic Cycles: A slowdown in global or domestic economic growth can reduce consumer spending on textiles and apparel.
Currency Fluctuations: For companies involved in exports or imports, adverse movements in foreign exchange rates can impact profitability.
Regulatory & Environmental Compliance: Evolving environmental norms for dyeing and processing units, and labor laws, can increase operational costs.
Fashion & Trend Changes: Rapid changes in fashion trends can lead to inventory obsolescence if the company cannot adapt quickly.
Management & Ownership
Specific details regarding the promoters, management quality, or precise ownership structure of Advance Syntex Ltd. are not readily available without examining official company filings or investor documents. Many Indian textile companies are promoter-driven, where the founding family or group holds a significant stake and plays a key role in strategic decision-making and day-to-day operations. The quality of management would typically be assessed based on their experience, strategic vision, execution capabilities, and corporate governance practices.
Outlook
ASYL operates within the dynamic Indian textile sector, which presents both opportunities and challenges. On the positive side, India's large domestic market, government support for manufacturing and exports, and the global trend of diversifying supply chains offer potential avenues for growth. The increasing demand for synthetic textiles, a likely focus for ASYL, could also be a tailwind. However, the industry is highly competitive and susceptible to raw material price volatility, global economic downturns, and rapid shifts in fashion trends. For ASYL, sustained success will depend on its ability to manage these risks effectively, maintain cost competitiveness, innovate its product offerings, and adapt to changing market demands, while potentially leveraging any specialized expertise in synthetic textiles.
Price goes above X
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| #(Fig in Cr.) | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Expenditure | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 |
| Operating Profit | 0 | -0 | -0 | -0 | -0 | 0 | -1 | -0 | -0 | -0 |
| Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Exceptional Income / Expenses | -5 | -0 | 0 | -0 | -18 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | -5 | -1 | -0 | -0 | -18 | 0 | -1 | -0 | -0 | -0 |
| Provision for Tax | -0 | 0 | 0 | 0 | -0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Tax | -5 | -1 | -0 | -0 | -18 | 0 | -1 | -0 | -0 | -0 |
| Adjustments | -0 | 0 | 0 | -0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | -5 | -1 | -0 | -0 | -18 | 0 | -1 | -0 | -0 | -0 |
| Adjusted Earnings Per Share | -4.8 | -0.5 | -0.1 | -0.3 | -15.8 | 0 | -0.5 | -0 | -0 | -0 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 47 | 48 | 55 | 71 | 79 | 64 | 42 | 29 | 19 | 1 | 0 | 0 |
| Other Income | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Income | 47 | 49 | 55 | 72 | 79 | 65 | 42 | 29 | 19 | 1 | 0 | 0 |
| Total Expenditure | 42 | 41 | 48 | 62 | 68 | 57 | 39 | 29 | 22 | 2 | 0 | 1 |
| Operating Profit | 5 | 8 | 7 | 10 | 11 | 8 | 3 | 0 | -3 | -1 | -0 | -1 |
| Interest | 3 | 4 | 4 | 5 | 6 | 4 | 4 | 3 | 0 | 0 | 0 | 0 |
| Depreciation | 2 | 2 | 2 | 2 | 2 | 2 | 2 | 1 | 1 | 0 | 0 | 0 |
| Exceptional Income / Expenses | 0 | -0 | 0 | 0 | 0 | -0 | -0 | -2 | 2 | -5 | -18 | 0 |
| Profit Before Tax | 0 | 1 | 2 | 2 | 3 | 2 | -3 | -5 | -2 | -6 | -18 | -1 |
| Provision for Tax | 0 | 1 | 1 | 1 | 1 | 0 | 0 | -1 | -1 | -0 | -0 | 0 |
| Profit After Tax | 0 | 1 | 1 | 2 | 2 | 1 | -3 | -4 | -2 | -6 | -18 | -1 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | 0 | 1 | 1 | 2 | 2 | 1 | -3 | -4 | -2 | -6 | -18 | -1 |
| Adjusted Earnings Per Share | 0 | 0.9 | 1.2 | 2 | 1.8 | 1.1 | -2.6 | -3.8 | -1.5 | -5.6 | -16.6 | -0.5 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | -100% | -100% | -100% | -100% |
| Operating Profit CAGR | 0% | 0% | -100% | -100% |
| PAT CAGR | 0% | 0% | NAN% | 0% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | -7% | -7% | -19% | -9% |
| ROE Average | 0% | -27% | -24% | -6% |
| ROCE Average | -73% | -30% | -19% | 0% |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Shareholder's Funds | 7 | 8 | 11 | 18 | 20 | 21 | 18 | 14 | 12 | 6 | -12 |
| Minority's Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Borrowings | 6 | 7 | 10 | 13 | 11 | 8 | 16 | 14 | 13 | 12 | 7 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -1 | -1 | -2 | -2 |
| Total Current Liabilities | 21 | 27 | 29 | 34 | 39 | 37 | 30 | 33 | 25 | 24 | 19 |
| Total Liabilities | 35 | 43 | 50 | 65 | 70 | 67 | 65 | 60 | 49 | 40 | 12 |
| Fixed Assets | 9 | 8 | 9 | 12 | 12 | 11 | 10 | 6 | 3 | 3 | 0 |
| Other Non-Current Assets | 0 | 0 | 0 | 0 | 1 | 2 | 2 | 2 | 2 | 1 | 1 |
| Total Current Assets | 26 | 35 | 41 | 53 | 56 | 53 | 53 | 52 | 44 | 36 | 10 |
| Total Assets | 35 | 43 | 50 | 65 | 70 | 67 | 65 | 60 | 49 | 40 | 12 |
| #(Fig in Cr.) | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 1 | 1 | 2 | 2 | 7 | 2 | 2 | 2 | 1 | 0 | 0 |
| Cash Flow from Operating Activities | 1 | 0 | 3 | 4 | 2 | 5 | -0 | -5 | 2 | 7 | 0 |
| Cash Flow from Investing Activities | -3 | -1 | -2 | -5 | -2 | -0 | -0 | 1 | 3 | 0 | 0 |
| Cash Flow from Financing Activities | 3 | 1 | 1 | 6 | -5 | -5 | 1 | 4 | -6 | 66 | 0 |
| Net Cash Inflow / Outflow | 1 | 0 | 1 | 5 | -5 | -0 | -0 | -1 | -1 | 73 | 0 |
| Closing Cash & Cash Equivalent | 1 | 2 | 2 | 7 | 2 | 2 | 2 | 1 | 0 | 73 | 0 |
| # | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | 0.04 | 0.91 | 1.17 | 1.96 | 1.81 | 1.13 | -2.58 | -3.75 | -1.55 | -5.61 | -16.6 |
| CEPS(Rs) | 3.56 | 4.14 | 3.06 | 4.44 | 3.91 | 2.77 | -1.11 | -2.88 | -0.81 | -5.24 | -16.37 |
| DPS(Rs) | 0 | 0 | 0.25 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Book NAV/Share(Rs) | 10.87 | 11.79 | 12.32 | 13.89 | 17.81 | 18.9 | 16.3 | 12.56 | 11.01 | 5.4 | -11.19 |
| Core EBITDA Margin(%) | 10.17 | 12.59 | 9.78 | 11.18 | 11.59 | 9.69 | 5.87 | 0.91 | -13.02 | -120.48 | 0 |
| EBIT Margin(%) | 5.75 | 9.05 | 7.67 | 8.84 | 9.59 | 7.64 | 2.55 | -7.18 | -8.7 | -716.39 | 0 |
| Pre Tax Margin(%) | 0.16 | 2.27 | 2.2 | 2.84 | 3.01 | 2.29 | -5.77 | -15.38 | -10.24 | -722.59 | 0 |
| PAT Margin (%) | 0.06 | 1.06 | 1.47 | 2.09 | 2.2 | 1.67 | -6 | -12.27 | -7.65 | -714.13 | 0 |
| Cash Profit Margin (%) | 4.82 | 4.78 | 3.84 | 4.73 | 4.76 | 4.1 | -2.59 | -9.41 | -3.99 | -666.7 | 0 |
| ROA(%) | 0.09 | 1.57 | 2.28 | 3.11 | 2.97 | 1.83 | -4.36 | -6.67 | -3.16 | -14.1 | -71.63 |
| ROE(%) | 0.45 | 8.07 | 11.14 | 14.99 | 12.37 | 6.14 | -14.63 | -26.01 | -13.13 | -68.35 | 0 |
| ROCE(%) | 12.58 | 18.42 | 16.44 | 17.69 | 17.32 | 10.98 | 2.28 | -4.43 | -3.77 | -14.5 | -72.79 |
| Receivable days | 77.97 | 90.11 | 86.19 | 91.35 | 106.6 | 129.76 | 177.85 | 239.74 | 348.32 | 7111.43 | 0 |
| Inventory Days | 73.9 | 73.1 | 76.24 | 71.54 | 78.16 | 115.16 | 200.46 | 289.36 | 408.23 | 9432.99 | 0 |
| Payable days | 77.78 | 94.1 | 94.05 | 82.29 | 88.35 | 106.32 | 124.63 | 105.22 | 64.72 | 363.29 | 0 |
| PER(x) | 0 | 0 | 18.57 | 16.94 | 12.68 | 6.84 | 0 | 0 | 0 | 0 | 0 |
| Price/Book(x) | 0 | 0 | 1.76 | 2.39 | 1.29 | 0.41 | 0.64 | 0.79 | 0.6 | 1.13 | -0.49 |
| Dividend Yield(%) | 0 | 0 | 1.15 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EV/Net Sales(x) | 0.44 | 0.57 | 0.79 | 0.76 | 0.71 | 0.59 | 1.09 | 1.79 | 2.21 | 52.83 | 0 |
| EV/Core EBITDA(x) | 4.03 | 3.66 | 5.89 | 5.54 | 5.02 | 4.96 | 15.6 | 138 | -14.58 | -37.67 | -232.89 |
| Net Sales Growth(%) | 30.62 | 2.31 | 13.05 | 30.66 | 10.35 | -18.49 | -35.24 | -29.95 | -34.23 | -96.1 | -100 |
| EBIT Growth(%) | -1.51 | 84.36 | 6.15 | 35.69 | 15.72 | -34.36 | -78.83 | -301.03 | 19.93 | -219.79 | -195.05 |
| PAT Growth(%) | -96.43 | 1962.05 | 73.97 | 67.99 | 12.14 | -37.64 | -328.77 | -45.74 | 58.77 | -262.5 | -195.76 |
| EPS Growth(%) | -96.79 | 1962.04 | 27.82 | 67.98 | -8.02 | -37.65 | -328.78 | -45.74 | 58.77 | -262.51 | -195.76 |
| Debt/Equity(x) | 2.54 | 2.95 | 2.25 | 2.47 | 1.63 | 1.5 | 1.99 | 3.03 | 2.88 | 5.46 | -1.96 |
| Current Ratio(x) | 1.21 | 1.27 | 1.4 | 1.56 | 1.45 | 1.44 | 1.77 | 1.56 | 1.75 | 1.51 | 0.56 |
| Quick Ratio(x) | 0.78 | 0.76 | 0.84 | 1.05 | 0.89 | 0.75 | 0.87 | 0.75 | 0.82 | 0.59 | 0.56 |
| Interest Cover(x) | 1.03 | 1.33 | 1.4 | 1.47 | 1.46 | 1.43 | 0.31 | -0.88 | -5.64 | -115.59 | -2025.19 |
| Total Debt/Mcap(x) | 0 | 0 | 1.28 | 1.03 | 1.27 | 3.68 | 3.11 | 3.82 | 4.79 | 4.85 | 3.98 |
| # | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 59.76 | 59.76 | 59.76 | 59.76 | 59.76 | 59.76 | 59.76 | 59.76 | 59.76 | 59.76 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 40.24 | 40.24 | 40.24 | 40.24 | 40.24 | 40.24 | 40.24 | 40.24 | 40.24 | 40.24 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 0.66 | 0.66 | 0.66 | 0.66 | 0.66 | 0.66 | 0.66 | 0.66 | 0.66 | 0.66 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 0.45 | 0.45 | 0.45 | 0.45 | 0.45 | 0.45 | 0.45 | 0.45 | 0.45 | 0.45 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 1.11 | 1.11 | 1.11 | 1.11 | 1.11 | 1.11 | 1.11 | 1.11 | 1.11 | 1.11 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | -100% | -100% | -100% | -100% |
| Operating Profit CAGR | — | — | -100% | -100% |
| PAT CAGR | — | — | 0% | — |
| Share Price CAGR | -7% | -7% | -19% | -9% |
| ROE Average | 0% | -27% | -24% | -6% |
| ROCE Average | -73% | -30% | -19% | 0% |
| # | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 59.76 | 59.76 | 59.76 | 59.76 | 59.76 | 59.76 | 59.76 | 59.76 | 59.76 | 59.76 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 40.24 | 40.24 | 40.24 | 40.24 | 40.24 | 40.24 | 40.24 | 40.24 | 40.24 | 40.24 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 0.66 | 0.66 | 0.66 | 0.66 | 0.66 | 0.66 | 0.66 | 0.66 | 0.66 | 0.66 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 0.45 | 0.45 | 0.45 | 0.45 | 0.45 | 0.45 | 0.45 | 0.45 | 0.45 | 0.45 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 1.11 | 1.11 | 1.11 | 1.11 | 1.11 | 1.11 | 1.11 | 1.11 | 1.11 | 1.11 |
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