Key Financials Snapshot

TTM · Consolidated · ₹ in Cr
Market Cap
₹952 Cr.
Stock P/E
18.3
P/B
0.7
Current Price
₹202.2
Book Value
₹ 293.1
Face Value
10
52W High
₹240
52W Low
₹ 119.9
Dividend Yield
0%

RSWM Overview

Business

RSWM Ltd. is an integrated textile manufacturer based in India. The company's core business involves the production of a wide range of textile products, primarily focusing on yarn and fabric. It operates across multiple stages of the textile value chain, including spinning (producing cotton, melange, synthetic, and blended yarns), weaving, and processing of fabrics, with a significant presence in denim manufacturing. RSWM generates revenue by selling these intermediate and finished textile products (yarn, fabric, denim) to a diverse customer base, including other manufacturers, garment makers, and retailers, both domestically and internationally.

Revenue Mix

While specific revenue contribution percentages are not provided, RSWM typically derives its revenue from the following major product segments:

Yarn: This constitutes a significant portion, covering a vast array of spun yarns such as cotton yarn, melange yarn, and synthetic and blended yarns (e.g., polyester, viscose, acrylic blends).

Fabric: Production of various woven fabrics, which may include shirting, suiting, and other apparel fabrics.

Denim: Manufacturing of denim fabric, catering to the global denim apparel industry.

The company's integrated operations allow it to maximize value addition across these segments.

Industry

The Indian textile industry is one of the largest globally, characterized by its fragmentation, diverse product offerings, and substantial export orientation. It is highly competitive, with numerous players ranging from small unorganized units to large integrated mills. RSWM Ltd. is positioned as an established, integrated textile manufacturer within the organized sector. Its multi-product portfolio and presence across various stages of the textile value chain (from yarn to fabric and denim) allow it to serve diverse customer requirements both in India and abroad. The company's scale places it among the larger players in specific yarn and fabric categories in the Indian market.

MOAT

RSWM's competitive advantages primarily include:

Scale and Integration: Large-scale manufacturing capacities across spinning, weaving, and denim operations lead to economies of scale and potentially lower per-unit costs. Backward and forward integration offers greater control over the supply chain, quality, and reduces reliance on external processing.

Diversified Product Portfolio: A broad range of yarns (cotton, synthetic, blended) and fabrics (including denim) reduces dependence on a single raw material or product category, providing resilience against market fluctuations.

Established Customer Relationships: Decades of operation have fostered long-standing relationships with domestic and international customers and suppliers, creating a stable client base.

Operational Expertise: Accumulated experience and continuous investment in modernization contribute to operational efficiencies and product quality.

Growth Drivers

Rising Global Demand & Exports: Increasing global demand for textiles, driven by shifting supply chains (e.g., "China+1" strategy) and Free Trade Agreements, offers significant export opportunities.

Domestic Consumption Growth: Growth in India's disposable income, urbanization, and evolving fashion trends continue to fuel domestic demand for apparel and home textiles.

Value-Added & Specialty Products: A focus on developing and marketing higher-margin, specialized, performance-oriented, and sustainable yarns and fabrics can drive revenue growth and improve profitability.

Government Initiatives: Indian government schemes like the Production Linked Incentive (PLI) scheme for textiles and the establishment of PM MITRA parks aim to boost textile manufacturing and exports.

Risks

Raw Material Price Volatility: Significant fluctuations in the prices of key raw materials like cotton, polyester staple fiber, and other man-made fibers can directly impact production costs and profitability.

Currency Fluctuations: As a significant exporter, RSWM is exposed to volatility in foreign exchange rates (e.g., USD/INR), which can affect export realizations and import costs.

Intense Competition: The highly fragmented and competitive nature of the Indian and global textile industry leads to pricing pressures and potential margin erosion.

Demand Cyclicality: The textile industry is inherently cyclical, sensitive to global economic conditions, consumer spending patterns, and fashion trends, leading to periods of strong and weak demand.

Trade Policies & Tariffs: Changes in international trade agreements, tariffs, or non-tariff barriers in key export markets can negatively impact the company's export competitiveness.

Labor and Energy Costs: Rising labor wages and energy costs in India can increase operational expenses and affect cost competitiveness.

Management & Ownership

RSWM Ltd. is a flagship company of the LNJ Bhilwara Group, a prominent Indian business conglomerate with diversified interests. It is a promoter-led company, indicating significant ownership and strategic direction from the founding family or group. The management team typically comprises experienced professionals with deep industry knowledge, often having long tenures within the LNJ Bhilwara Group. The ownership structure features a substantial promoter holding, alongside holdings by institutional investors and the public.

Outlook

RSWM is well-positioned to leverage its integrated manufacturing capabilities, diversified product portfolio, and established market presence to capitalize on growth opportunities in both the domestic and international textile markets. The company's focus on operational efficiencies, value-added products, and sustainability initiatives could help it navigate industry challenges and capture market share. However, the outlook is balanced by the inherent cyclicality of the global textile industry, intense competition, and sensitivity to raw material price volatility and currency fluctuations. The company's future success will largely depend on its ability to strategically manage these external factors, adapt to evolving consumer preferences, and effectively utilize government support.

RSWM Share Price

Live · BSE / NSE · Inception: 1960
₹ | |
Volume
Price

Key Financials — Profit & Loss

₹ in Cr · Consolidated · annual

RSWM Quarterly Results

#(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 1171 1208 1166 1196 1256 1170 1151 1091 1142 1161
Other Income 11 7 9 7 9 12 9 14 17 9
Total Income 1183 1215 1176 1203 1265 1182 1160 1104 1159 1170
Total Expenditure 1130 1159 1128 1145 1185 1098 1079 1023 1072 1071
Operating Profit 53 55 48 58 80 84 82 82 87 99
Interest 32 35 36 34 36 35 32 30 31 33
Depreciation 42 42 41 39 38 39 39 37 38 39
Exceptional Income / Expenses 77 0 0 0 0 0 0 -10 -0 0
Profit Before Tax 57 -22 -29 -15 6 11 11 4 17 27
Provision for Tax 21 -7 -11 -5 5 3 4 2 -17 8
Profit After Tax 35 -14 -18 -10 1 8 7 2 34 20
Adjustments 0 -0 1 1 0 0 0 0 0 0
Profit After Adjustments 36 -15 -18 -9 1 8 7 2 34 20
Adjusted Earnings Per Share 7.6 -3.1 -3.7 -2 0.3 1.8 1.6 0.5 7.2 4.2

RSWM Profit & Loss

#(Fig in Cr.) Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026 TTM
Net Sales 2933 2987 2940 2962 2771 2326 3817 3789 4058 4826 4554 4545
Other Income 25 32 36 32 26 39 32 91 36 32 51 49
Total Income 2958 3019 2976 2994 2797 2365 3850 3880 4094 4858 4605 4593
Total Expenditure 2536 2661 2713 2782 2587 2150 3385 3541 3963 4617 4271 4245
Operating Profit 423 358 263 212 211 215 464 340 131 241 334 350
Interest 126 110 117 120 109 83 68 74 97 140 127 126
Depreciation 149 132 124 124 132 128 113 127 153 161 154 153
Exceptional Income / Expenses 0 0 0 0 14 0 0 0 77 0 -11 -10
Profit Before Tax 153 118 28 -47 -13 3 290 152 -28 -58 44 59
Provision for Tax 41 14 7 -9 1 -17 44 29 -7 -18 -8 -3
Profit After Tax 112 104 21 -38 -13 21 246 123 -21 -40 52 63
Adjustments 0 0 0 -1 0 0 0 0 0 0 0 0
Profit After Adjustments 112 104 21 -38 -13 21 246 123 -21 -40 52 63
Adjusted Earnings Per Share 31.1 28.3 5.7 -10.4 -3.6 5.7 67 26.1 -4.5 -8.5 11 13.5

RSWM Balance Sheet

#(Fig in Cr.) Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Shareholder's Funds 624 708 982 851 737 792 1035 1317 1297 1297 1361
Minority's Interest 0 0 0 8 0 0 0 0 0 0 0
Borrowings 564 497 571 573 484 334 462 500 754 619 649
Other Non-Current Liabilities 112 103 99 87 72 67 70 105 108 81 88
Total Current Liabilities 1084 1261 1171 1123 942 876 1061 1347 1612 1642 1527
Total Liabilities 2384 2569 2824 2641 2236 2069 2628 3269 3771 3638 3625
Fixed Assets 1100 1166 1089 1142 1012 913 932 1085 1545 1518 1498
Other Non-Current Assets 247 228 557 356 148 170 344 412 355 391 501
Total Current Assets 1037 1174 1177 1118 1060 970 1306 1771 1832 1690 1589
Total Assets 2384 2569 2824 2641 2236 2069 2628 3269 3771 3638 3625

RSWM Cash Flow

#(Fig in Cr.) Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Opening Cash & Cash Equivalents 3 3 3 11 11 2 3 6 3 4 10
Cash Flow from Operating Activities 339 222 166 263 231 320 210 89 -76 426 435
Cash Flow from Investing Activities -124 -154 -61 -59 151 7 -318 -239 -362 -113 -217
Cash Flow from Financing Activities -215 -68 -97 -205 -390 -326 111 147 439 -307 -222
Net Cash Inflow / Outflow 0 0 8 -0 -8 1 3 -3 1 6 -5
Closing Cash & Cash Equivalent 3 3 11 11 2 3 6 3 4 10 5

RSWM Ratios

# Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Earnings Per Share (Rs) 31.05 28.32 5.71 -10.42 -3.65 5.67 66.98 26.08 -4.47 -8.5 11.04
CEPS(Rs) 72.36 64.27 39.57 23.36 32.17 40.4 97.74 53.11 28.05 25.61 43.63
DPS(Rs) 8.01 8.01 1.28 0 0 0 16.03 5 0 0 0
Book NAV/Share(Rs) 172.72 192.69 267.24 231.41 200.58 215.4 281.67 279.61 275.44 275.4 288.96
Core EBITDA Margin(%) 13.5 10.87 7.66 6.12 6.61 7.49 11.25 6.5 2.32 4.29 6.18
EBIT Margin(%) 9.46 7.64 4.9 2.47 3.44 3.69 9.3 5.91 1.68 1.68 3.74
Pre Tax Margin(%) 5.19 3.95 0.94 -1.59 -0.45 0.15 7.54 3.97 -0.69 -1.2 0.96
PAT Margin (%) 3.81 3.47 0.71 -1.28 -0.48 0.89 6.41 3.22 -0.51 -0.82 1.14
Cash Profit Margin (%) 8.88 7.89 4.91 2.92 4.24 6.34 9.35 6.56 3.23 2.48 4.49
ROA(%) 4.99 4.2 0.78 -1.38 -0.55 0.97 10.48 4.17 -0.6 -1.08 1.43
ROE(%) 21.18 15.63 2.48 -4.12 -1.69 2.72 26.95 10.44 -1.61 -3.09 3.91
ROCE(%) 14.83 10.92 6.21 3.03 4.58 4.79 18.55 9.79 2.43 2.64 5.68
Receivable days 35.19 45.72 50.42 55.33 51.98 56.11 43.48 47.39 49.06 50.34 52.84
Inventory Days 51.15 58.95 65.85 59.55 61.39 74.52 45.58 56.74 66.38 57.84 53.77
Payable days 15.57 14.03 16.81 18.44 24.96 34.61 25.8 23.63 23.41 22.62 23.95
PER(x) 6.16 9.84 37.03 0 0 21.11 3.9 5.78 0 0 10.96
Price/Book(x) 1.11 1.45 0.79 0.49 0.22 0.56 0.93 0.54 0.62 0.47 0.42
Dividend Yield(%) 4.19 2.87 0.61 0 0 0 6.13 3.32 0 0 0
EV/Net Sales(x) 0.71 0.83 0.78 0.62 0.48 0.58 0.54 0.49 0.66 0.48 0.49
EV/Core EBITDA(x) 4.93 6.93 8.68 8.68 6.26 6.3 4.43 5.46 20.46 9.59 6.65
Net Sales Growth(%) -2.33 1.82 -1.57 0.76 -6.45 -16.06 64.12 -0.75 7.1 18.93 -5.63
EBIT Growth(%) 15.07 -16.31 -36.59 -49.87 8.56 -9.87 313.05 -36.9 -69.59 19.25 109.45
PAT Growth(%) 32.14 -2.66 -79.84 -279.91 39.19 255.25 1082.08 -50.11 -117.14 -90.1 229.94
EPS Growth(%) 32.14 -8.81 -79.84 -282.49 64.96 255.25 1082.07 -61.06 -117.14 -90.1 229.94
Debt/Equity(x) 2.24 2.07 1.55 1.69 1.57 1.16 1.06 0.87 1.45 1.32 1.22
Current Ratio(x) 0.96 0.93 1.01 1 1.13 1.11 1.23 1.32 1.14 1.03 1.04
Quick Ratio(x) 0.56 0.5 0.55 0.61 0.59 0.59 0.75 0.81 0.63 0.58 0.63
Interest Cover(x) 2.21 2.07 1.24 0.61 0.88 1.04 5.29 3.05 0.71 0.58 1.34
Total Debt/Mcap(x) 2.02 1.43 1.96 3.48 7.01 2.1 1.15 1.62 2.33 2.8 2.92

Growth Rates

Compounded annual
# 1 Year 3 Year 5 Year 10 Year
Sales CAGR -6% +6% +14% +4%
Operating Profit CAGR +39% -1% +9% -2%
PAT CAGR — -25% +20% -7%
Share Price CAGR +37% +2% 0% -3%
ROE Average +4% 0% +7% +7%
ROCE Average +6% +4% +8% +8%

RSWM Shareholding Pattern

Latest · Jun 2026
100% held
Promoters 55.69 %
FII 0.97 %
DII (MF + Insurance) 0.37 %
Public (retail) 42.97 %
# Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026
Promoter 55.6955.6955.6955.6955.6955.6955.6955.6955.6955.69
FII 2.081.81.521.631.51.231.211.241.20.97
DII 0.280.330.480.480.280.280.280.280.280.37
Public 41.9542.1842.3142.242.5342.842.8242.842.8342.97
Others 0000000000
Total 100100100100100100100100100100

RSWM Peer Comparison

RSWM Quarterly Price

10-year quarterly close · BSE
Show Value Show %

News & Updates

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RSWM Pros & Cons

Pros

  • Stock is trading at 0.7 times its book value

Cons

  • Company has a low return on equity of -0% over the last 3 years.
  • Debtor days have increased from 22.62 to 23.95days.
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