Textile · Founded 2009 · www.mohinihealthandhygiene.com · NSE · ISIN INE450S01011
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1. Business Overview
Mohini Health & Hygiene Ltd. (MHHL) is an Indian company operating within the textile sector. Given its name, the company likely specializes in the manufacturing and sale of textile products with a focus on health and hygiene applications. This could include non-woven fabrics for personal care products (like diapers, sanitary napkins, wipes), medical textiles (surgical gowns, drapes, masks components), or other functional textiles designed for cleanliness, comfort, or protective purposes. The core business model involves manufacturing these textile goods and selling them to either business-to-business (B2B) clients (e.g., other manufacturers, healthcare providers) or potentially directly to consumers (B2C) if they have proprietary brands. The company makes money through the sales of these manufactured textile products.
2. Key Segments / Revenue Mix
Specific segment contributions and revenue mix are not publicly available from the basic information provided. However, based on its name and industry, potential segments could include:
Non-Woven Textiles: Fabrics used in disposable hygiene products.
Medical Textiles: Materials for healthcare applications.
Industrial/Technical Textiles: Specialized textiles for various non-apparel uses, including potentially health and safety.
A detailed breakdown would require financial reports from the company.
3. Industry & Positioning
MHHL operates in the Indian textile industry, which is one of the oldest and largest sectors in the country, contributing significantly to manufacturing, employment, and exports. The industry is highly fragmented, comprising a mix of large integrated players and numerous small and medium enterprises. It is characterized by intense competition, dependence on raw material prices (like cotton, synthetic fibers), and exposure to global demand and trade policies.
Within this landscape, MHHL's "Health & Hygiene" focus likely positions it in a potentially growing niche sub-segment of technical textiles, which demands specific quality, regulatory compliance, and performance characteristics. Its exact market share or standing relative to peers (whether a market leader, a niche player, or a general manufacturer) cannot be determined without specific market data.
4. Competitive Advantage (Moat)
Based on the limited information, a clear, durable competitive advantage (moat) for Mohini Health & Hygiene Ltd. is not immediately evident. Potential sources of competitive advantage in the health & hygiene textile space could include:
Specialized Manufacturing Capabilities: Advanced technology or processes for producing high-quality, specialized fabrics.
Certifications & Compliance: Adherence to strict health, safety, and quality standards crucial for medical and hygiene products.
Cost Efficiency: Scale or operational excellence leading to lower production costs.
Brand Recognition: If the company has established strong B2C brands in hygiene products.
Customer Relationships: Deep, long-standing relationships with key B2B clients who value their specialized products.
Without specific details on operations, intellectual property, or market dominance, any assessment of a durable moat remains speculative.
5. Growth Drivers
Key factors that could drive growth for MHHL over the next 3-5 years include:
Rising Health & Hygiene Awareness: Increased consumer focus on hygiene and health, accelerated by global events, driving demand for related textile products.
Growing Indian Middle Class: Increasing disposable incomes leading to higher consumption of personal care and hygiene products.
Expanding Healthcare Sector: Growth in medical facilities and services requiring medical textiles.
Government Initiatives: "Make in India" and Production Linked Incentive (PLI) schemes for textiles potentially boosting domestic manufacturing and exports.
Technological Advancements: Innovation in functional textiles, offering new product development opportunities.
Export Opportunities: Tapping into global demand for specialized hygiene and medical textiles.
6. Risks
Key business risks for MHHL include:
Raw Material Price Volatility: Fluctuations in the cost of fibers (e.g., cotton, synthetic polymers) can impact profitability.
Intense Competition: The Indian textile market is highly competitive, facing both domestic and international players.
Regulatory Changes: Evolving environmental, labor, or product safety regulations could increase compliance costs.
Economic Downturns: Reduced consumer spending or industrial activity can impact demand for textile products.
Technological Obsolescence: Failure to invest in modern manufacturing technology could lead to loss of competitiveness.
Supply Chain Disruptions: Vulnerability to global supply chain issues affecting raw material procurement or product distribution.
Foreign Exchange Fluctuations: For companies involved in imports of raw materials or exports of finished goods.
7. Management & Ownership
As is common with many Indian companies, Mohini Health & Hygiene Ltd. is likely promoted by a founding family or group. The quality of management and specific ownership structure (e.g., promoter holding, institutional holding, public float) are not available without access to detailed corporate filings or annual reports. Typically, promoter-led companies in India often have long-term vision but can also pose risks related to governance or related-party transactions, which cannot be assessed without specific information.
8. Outlook
Mohini Health & Hygiene Ltd. operates in a sector with structural tailwinds, particularly the increasing global and domestic demand for health and hygiene products. The Indian economy's growth and rising consumer awareness present a favorable environment for companies specializing in this niche within textiles. However, the company also faces significant headwinds, including the inherent fragmentation and intense competition within the Indian textile industry, volatility in raw material prices, and the need for continuous investment in technology and compliance to maintain relevance. Its ability to capitalize on growth opportunities will depend heavily on its specific product portfolio, manufacturing efficiency, market positioning, and the strength of its distribution channels and customer relationships. Without further specific operational and financial details, its future performance remains subject to these industry-specific dynamics and company-specific execution.
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| Net Sales |
| Other Income |
| Total Income |
| Total Expenditure |
| Operating Profit |
| Interest |
| Depreciation |
| Exceptional Income / Expenses |
| Profit Before Tax |
| Provision for Tax |
| Profit After Tax |
| Adjustments |
| Profit After Adjustments |
| Adjusted Earnings Per Share |
| #(Fig in Cr.) | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|
| Net Sales | 169 | 147 | 130 | 137 | 136 | 192 | 200 | 168 | |
| Other Income | 3 | 2 | 7 | 0 | 7 | 6 | 8 | 11 | |
| Total Income | 172 | 149 | 136 | 138 | 143 | 198 | 208 | 179 | |
| Total Expenditure | 152 | 127 | 119 | 120 | 126 | 179 | 186 | 156 | |
| Operating Profit | 20 | 21 | 17 | 18 | 17 | 19 | 22 | 23 | |
| Interest | 8 | 6 | 5 | 4 | 4 | 4 | 4 | 3 | |
| Depreciation | 5 | 5 | 5 | 5 | 5 | 4 | 4 | 5 | |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -6 | |
| Profit Before Tax | 7 | 10 | 8 | 8 | 9 | 11 | 13 | 8 | |
| Provision for Tax | 2 | 3 | 1 | 2 | 3 | 4 | 3 | 3 | |
| Profit After Tax | 5 | 7 | 7 | 6 | 6 | 7 | 11 | 6 | |
| Adjustments | -0 | 0 | 0 | -0 | -0 | 0 | 0 | 0 | |
| Profit After Adjustments | 5 | 7 | 7 | 6 | 6 | 7 | 11 | 6 | |
| Adjusted Earnings Per Share | 2.7 | 4 | 3.6 | 3.2 | 3.1 | 3.7 | 5.9 | 3.2 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | -16% | 7% | 5% | 0% |
| Operating Profit CAGR | 5% | 11% | 6% | 0% |
| PAT CAGR | -45% | 0% | -3% | 0% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | -37% | -14% | 2% | NA% |
| ROE Average | 6% | 8% | 8% | 9% |
| ROCE Average | 9% | 12% | 11% | 12% |
| #(Fig in Cr.) | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|
| Shareholder's Funds | 58 | 66 | 72 | 78 | 83 | 90 | 100 | 105 |
| Minority's Interest | 0 | 0 | 0 | 0 | 1 | 0 | 0 | 0 |
| Borrowings | 27 | 19 | 13 | 12 | 5 | 8 | 6 | 2 |
| Other Non-Current Liabilities | 3 | 4 | 3 | 4 | 4 | 5 | 5 | 5 |
| Total Current Liabilities | 49 | 45 | 45 | 53 | 64 | 36 | 29 | 56 |
| Total Liabilities | 138 | 133 | 134 | 147 | 157 | 138 | 140 | 168 |
| Fixed Assets | 65 | 64 | 61 | 65 | 53 | 49 | 45 | 42 |
| Other Non-Current Assets | 3 | 2 | 3 | 4 | 4 | 2 | 3 | 10 |
| Total Current Assets | 70 | 67 | 70 | 78 | 100 | 87 | 92 | 116 |
| Total Assets | 138 | 133 | 134 | 147 | 157 | 138 | 140 | 168 |
| #(Fig in Cr.) | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|
| Opening Cash & Cash Equivalents | 0 | 2 | 1 | 1 | 1 | 1 | 1 | 5 |
| Cash Flow from Operating Activities | 3 | 14 | 16 | 10 | -5 | 26 | 14 | 30 |
| Cash Flow from Investing Activities | -6 | -4 | -2 | -8 | 8 | -6 | -1 | -29 |
| Cash Flow from Financing Activities | 5 | -12 | -14 | -3 | -3 | -20 | -10 | 8 |
| Net Cash Inflow / Outflow | 2 | -2 | 1 | -0 | 0 | 0 | 4 | 9 |
| Closing Cash & Cash Equivalent | 2 | 1 | 1 | 1 | 1 | 1 | 5 | 14 |
| # | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|---|---|---|---|
| Earnings Per Share (Rs) | 2.74 | 4.02 | 3.58 | 3.25 | 3.15 | 3.72 | 5.86 | 3.21 |
| CEPS(Rs) | 5.33 | 6.8 | 6.37 | 6.39 | 6.22 | 6.07 | 8.23 | 5.83 |
| DPS(Rs) | 0 | 0 | 0 | 0 | 0 | 0 | 0.5 | 0 |
| Book NAV/Share(Rs) | 31.79 | 36.1 | 39.57 | 42.53 | 45.68 | 49.19 | 55.05 | 57.76 |
| Core EBITDA Margin(%) | 9.31 | 13.51 | 8.38 | 12.8 | 7.86 | 6.62 | 6.98 | 6.92 |
| EBIT Margin(%) | 8.15 | 11.13 | 9.51 | 9.15 | 8.95 | 7.69 | 8.81 | 6.95 |
| Pre Tax Margin(%) | 3.92 | 6.78 | 5.96 | 6.02 | 6.38 | 5.53 | 6.68 | 5.06 |
| PAT Margin (%) | 2.73 | 4.97 | 5.03 | 4.49 | 4.45 | 3.53 | 5.36 | 3.49 |
| Cash Profit Margin (%) | 5.28 | 8.42 | 8.95 | 8.48 | 8.32 | 5.76 | 7.51 | 6.33 |
| ROA(%) | 3.65 | 5.4 | 4.89 | 4.41 | 3.99 | 4.59 | 7.69 | 3.81 |
| ROE(%) | 8.66 | 11.83 | 9.46 | 8.25 | 7.54 | 7.84 | 11.25 | 5.69 |
| ROCE(%) | 13.81 | 14.56 | 10.67 | 10.7 | 9.85 | 12.07 | 14.62 | 8.87 |
| Receivable days | 72.35 | 77.62 | 66.83 | 59.29 | 85.8 | 72.21 | 68.26 | 62.58 |
| Inventory Days | 27.59 | 40.48 | 60.34 | 72.07 | 76.86 | 49.62 | 43.23 | 64.43 |
| Payable days | 29.68 | 25.61 | 22.81 | 34.4 | 39.16 | 22.14 | 12.42 | 20.83 |
| PER(x) | 25.09 | 8.46 | 3.18 | 7.44 | 8.78 | 13.59 | 9.01 | 18.73 |
| Price/Book(x) | 2.16 | 0.94 | 0.29 | 0.57 | 0.61 | 1.03 | 0.96 | 1.04 |
| Dividend Yield(%) | 0 | 0 | 0 | 0 | 0 | 0 | 0.95 | 0 |
| EV/Net Sales(x) | 1.03 | 0.76 | 0.48 | 0.63 | 0.68 | 0.62 | 0.57 | 0.77 |
| EV/Core EBITDA(x) | 8.81 | 5.23 | 3.54 | 4.77 | 5.32 | 6.24 | 5.2 | 5.75 |
| Net Sales Growth(%) | 0 | -12.85 | -12.01 | 6.05 | -0.83 | 40.83 | 3.96 | -15.95 |
| EBIT Growth(%) | 0 | 9.45 | -24.8 | 1.97 | -2.94 | 20.97 | 19.05 | -33.71 |
| PAT Growth(%) | 0 | 45.84 | -10.85 | -5.34 | -1.83 | 11.81 | 57.61 | -45.26 |
| EPS Growth(%) | 0 | 46.7 | -10.89 | -9.34 | -2.98 | 18.13 | 57.61 | -45.26 |
| Debt/Equity(x) | 0.87 | 0.78 | 0.58 | 0.56 | 0.53 | 0.31 | 0.22 | 0.33 |
| Current Ratio(x) | 1.42 | 1.5 | 1.54 | 1.47 | 1.57 | 2.46 | 3.19 | 2.08 |
| Quick Ratio(x) | 1.14 | 1.08 | 1.01 | 0.9 | 1.15 | 1.76 | 2.41 | 1.42 |
| Interest Cover(x) | 1.93 | 2.56 | 2.67 | 2.93 | 3.48 | 3.56 | 4.14 | 3.68 |
| Total Debt/Mcap(x) | 0.4 | 0.82 | 2.03 | 0.98 | 0.87 | 0.3 | 0.23 | 0.32 |
| # | Sep 2021 | Mar 2022 | Sep 2022 | Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 62.33 | 62.33 | 62.33 | 63.28 | 63.28 | 63.28 | 64.02 | 64.02 | 64.02 | 64.02 |
| FII | 1.25 | 1.22 | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 36.42 | 36.45 | 37.62 | 36.67 | 36.67 | 36.67 | 35.93 | 35.98 | 35.98 | 35.98 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Sep 2021 | Mar 2022 | Sep 2022 | Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 1.14 | 1.14 | 1.14 | 1.15 | 1.15 | 1.15 | 1.17 | 1.17 | 1.17 | 1.17 |
| FII | 0.02 | 0.02 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 0.66 | 0.66 | 0.69 | 0.67 | 0.67 | 0.67 | 0.66 | 0.66 | 0.66 | 0.66 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 1.82 | 1.82 | 1.82 | 1.82 | 1.82 | 1.82 | 1.82 | 1.82 | 1.82 | 1.82 |
| # | Sep 2021 | Mar 2022 | Sep 2022 | Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 62.33 | 62.33 | 62.33 | 63.28 | 63.28 | 63.28 | 64.02 | 64.02 | 64.02 | 64.02 |
| FII | 1.25 | 1.22 | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 37.67 | 37.67 | 37.67 | 36.72 | 36.72 | 36.72 | 35.98 | 35.98 | 35.98 | 35.98 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Sep 2021 | Mar 2022 | Sep 2022 | Mar 2023 | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 1.14 | 1.14 | 1.14 | 1.15 | 1.15 | 1.15 | 1.17 | 1.17 | 1.17 | 1.17 |
| FII | 0.02 | 0.02 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 0.69 | 0.69 | 0.69 | 0.67 | 0.67 | 0.67 | 0.66 | 0.66 | 0.66 | 0.66 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 1.82 | 1.82 | 1.82 | 1.82 | 1.82 | 1.82 | 1.82 | 1.82 | 1.82 | 1.82 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | -16% | +7% | +5% | — |
| Operating Profit CAGR | +5% | +11% | +6% | — |
| PAT CAGR | -45% | 0% | -3% | — |
| Share Price CAGR | -37% | -14% | +2% | — |
| ROE Average | +6% | +8% | +8% | +9% |
| ROCE Average | +9% | +12% | +11% | +12% |
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