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Shree Rajasthan Syn. Overview

1. Business Overview

Shree Rajasthan Syntex Ltd. (SHRERAJSYN) is an Indian company primarily engaged in the manufacturing of man-made fibres. Specifically, it operates in the textile value chain, focusing on the production of synthetic yarns and textile products derived from man-made fibres. The company's core business model involves procuring raw materials (likely petrochemical-derived polymers or fibres) and processing them through various stages like spinning, twisting, and dyeing to produce finished yarns. These yarns are then sold to downstream textile manufacturers for weaving, knitting, and apparel production. The company generates revenue through the sale of these manufactured man-made fibre products.

2. Key Segments / Revenue Mix

Based on the provided information, Shree Rajasthan Syntex Ltd. operates predominantly within a single, integrated segment: "Textile - Manmade Fibres." This implies that its primary revenue streams are derived from the production and sale of synthetic yarns and related textile products. A detailed breakdown of revenue contribution from different types of man-made fibres (e.g., polyester, viscose, acrylic) or specific product categories (e.g., spun yarn, filament yarn, blended yarn) is not publicly available without further financial reports.

3. Industry & Positioning

The company operates in the Indian Textile - Manmade Fibres industry, which is a significant part of the overall Indian textile sector. This industry is characterized by its capital-intensive nature, dependence on raw material prices (often linked to crude oil), and a mix of organized and unorganized players. India is a major global producer and consumer of textiles. Shree Rajasthan Syntex Ltd. positions itself as a manufacturer of man-made fibre products, catering to domestic and potentially international textile markets. Its standing relative to market leaders would depend on its production capacity, product specialization, and market share, which are not detailed in the provided information, but it is an established listed entity within this niche.

4. Competitive Advantage (Moat)

For a company like Shree Rajasthan Syntex Ltd. in the man-made fibres sector, potential competitive advantages (moats) are typically derived from:

Scale and Cost Efficiency: Large production capacities can lead to economies of scale in procurement, manufacturing, and distribution, allowing for competitive pricing.

Product Diversification/Specialization: Ability to offer a wide range of specialized yarns or fibres with specific properties can create customer stickiness.

Established Customer Relationships: Long-standing relationships with apparel manufacturers and textile mills can provide stable demand.

Operational Excellence: Efficient plant operations, strong supply chain management, and quality control can reduce costs and improve product consistency.

It is unlikely to possess a strong brand moat in a B2B context or a significant network effect.

5. Growth Drivers

Key factors that could drive growth for Shree Rajasthan Syntex Ltd. over the next 3-5 years include:

Increasing Demand for Man-made Fibres: Growing global and domestic preference for synthetic textiles due to their durability, versatility, and cost-effectiveness compared to natural fibres.

Rising Disposable Incomes: Growth in disposable income in India and emerging markets drives overall apparel and textile consumption.

Technological Advancements: Adoption of new technologies to produce higher-performance or sustainable man-made fibres can open new markets.

Government Initiatives: Policies supporting the Indian textile sector, such as Production Linked Incentive (PLI) schemes or export promotion measures, could boost manufacturing and exports.

Capacity Expansion & Product Mix Enhancement: Strategic investments in expanding production capacity or diversifying into value-added products.

6. Risks

Raw Material Price Volatility: Prices of key raw materials (e.g., purified terephthalic acid (PTA), monoethylene glycol (MEG) for polyester) are often linked to crude oil and petrochemical cycles, impacting profit margins.

Intense Competition: The Indian textile market is highly competitive with numerous domestic and international players, leading to pricing pressures.

Demand Fluctuations: The textile industry is cyclical and susceptible to changes in consumer spending, fashion trends, and economic downturns.

Trade Policies & Tariffs: Changes in international trade agreements, tariffs, or non-tariff barriers can impact export opportunities and import costs.

Regulatory & Environmental Compliance: Increasing environmental regulations related to manufacturing processes and waste management could lead to higher operating costs.

Forex Fluctuations: Exposure to currency exchange rate volatility for imports of raw materials or exports of finished goods.

7. Management & Ownership

Shree Rajasthan Syntex Ltd. is typically promoted and managed by a promoter group, common for many Indian companies. The day-to-day operations would be overseen by a professional management team, working under the strategic direction of the board of directors, which often includes promoter family members. Specific details regarding management quality or precise ownership breakdown (e.g., promoter holding percentage, institutional vs. public ownership) are not available in the provided information, but as a listed entity, it would adhere to regulatory disclosures.

8. Outlook

The outlook for Shree Rajasthan Syntex Ltd. is a blend of opportunities and challenges inherent to the textile - man-made fibres sector. The increasing global demand for synthetic textiles, driven by performance advantages and economic factors, presents a tailwind for growth. Government support for the textile industry in India further enhances the domestic manufacturing ecosystem. However, the company operates in a competitive and capital-intensive industry susceptible to volatile raw material prices and demand fluctuations. Its ability to navigate these challenges will depend on its operational efficiencies, product innovation, and capacity utilization, positioning it for potential growth while requiring careful management of external risks.

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Shree Rajasthan Syn. Key Financials

Market Cap ₹58 Cr.

Stock P/E -4

P/B 8.2

Current Price ₹14.2

Book Value ₹ 1.7

Face Value 10

52W High ₹20.3

Dividend Yield 0%

52W Low ₹ 9.2

Shree Rajasthan Syn. Share Price

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Volume
Price

Shree Rajasthan Syn. Quarterly Price

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Shree Rajasthan Syn. Peer Comparison

Shree Rajasthan Syn. Quarterly Results

#(Fig in Cr.) Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
Net Sales 8 5 2 3 3 3 4 3 4 4
Other Income 7 2 3 1 1 0 2 0 0 1
Total Income 15 7 5 4 4 3 6 3 4 4
Total Expenditure 9 6 7 5 4 6 12 4 5 5
Operating Profit 6 1 -3 -2 -1 -3 -6 -1 -1 -1
Interest 6 6 -18 0 0 0 0 0 0 0
Depreciation 1 0 1 0 0 0 0 0 0 0
Exceptional Income / Expenses 0 0 112 -0 -0 0 -1 0 -2 -1
Profit Before Tax -1 -6 127 -2 -1 -4 -7 -1 -3 -2
Provision for Tax 0 0 0 0 0 0 0 0 0 0
Profit After Tax -1 -6 127 -2 -1 -4 -7 -1 -3 -2
Adjustments 0 0 0 0 0 0 0 0 0 0
Profit After Adjustments -1 -6 127 -2 -1 -4 -7 -1 -3 -2
Adjusted Earnings Per Share -0.7 -4.1 45.2 -0.8 -0.4 -1.3 -2.6 -0.5 -1 -0.5

Shree Rajasthan Syn. Profit & Loss

#(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 297 260 255 226 172 69 37 51 52 25 13 15
Other Income 5 5 3 8 2 2 2 0 1 12 3 3
Total Income 302 265 258 234 174 71 38 51 53 37 17 17
Total Expenditure 281 246 238 224 184 73 40 55 54 34 28 26
Operating Profit 21 19 20 10 -10 -2 -2 -4 -1 3 -11 -9
Interest 17 16 16 14 16 15 18 28 21 2 1 0
Depreciation 8 5 5 5 4 4 4 4 20 2 1 0
Exceptional Income / Expenses 0 0 0 0 11 0 0 0 -0 112 -1 -4
Profit Before Tax -3 -3 -1 -9 -20 -22 -24 -36 -43 112 -14 -13
Provision for Tax -2 -1 -0 -3 -2 0 0 0 0 0 0 0
Profit After Tax -1 -2 -1 -6 -18 -22 -24 -36 -43 112 -14 -13
Adjustments 0 0 0 0 0 0 0 0 0 0 0 0
Profit After Adjustments -1 -2 -1 -6 -18 -22 -24 -36 -43 112 -14 -13
Adjusted Earnings Per Share -1.1 -1.7 -0.7 -4.2 -12.9 -15.8 -17.6 -26.6 -31.6 40 -5.1 -4.6

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR -48% -37% -28% -27%
Operating Profit CAGR -467% 0% 0% NAN%
PAT CAGR -113% 0% 0% 0%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR -7% 61% 30% 4%
ROE Average -233% -78% -47% -33%
ROCE Average -68% 1049% 623% 285%

Shree Rajasthan Syn. Balance Sheet

#(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 34 32 33 28 10 -11 -34 -71 -114 13 -1
Minority's Interest 0 0 0 0 0 0 0 0 0 0 0
Borrowings 59 45 35 45 42 38 6 7 8 14 12
Other Non-Current Liabilities 8 8 4 1 -1 -2 -2 -2 -1 0 -0
Total Current Liabilities 104 115 128 108 110 122 156 182 202 19 16
Total Liabilities 206 200 200 182 162 148 126 117 95 47 27
Fixed Assets 102 94 88 83 77 73 69 64 45 19 17
Other Non-Current Assets 3 3 2 2 16 15 48 44 44 11 6
Total Current Assets 101 103 110 97 69 60 10 8 6 3 3
Total Assets 206 200 200 182 162 148 126 117 95 47 27

Shree Rajasthan Syn. Cash Flow

#(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 2 2 1 1 1 14 14 1 0 0 1
Cash Flow from Operating Activities 24 20 13 5 11 -7 -2 1 1 55 -4
Cash Flow from Investing Activities 2 5 2 2 14 1 1 0 0 9 7
Cash Flow from Financing Activities -26 -26 -15 -7 -12 6 -12 -1 -1 -63 -4
Net Cash Inflow / Outflow 0 -1 -0 0 13 0 -14 -1 -0 1 -1
Closing Cash & Cash Equivalent 2 1 1 1 14 14 1 0 0 1 0

Shree Rajasthan Syn. Ratios

# 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) -1.14 -1.69 -0.65 -4.18 -12.94 -15.84 -17.62 -26.59 -31.6 40.04 -5.13
CEPS(Rs) 5.15 2.59 3.12 -0.74 -9.66 -12.62 -14.42 -23.39 -16.74 40.72 -4.71
DPS(Rs) 0 0 0 0 0 0 0 0 0 0 0
Book NAV/Share(Rs) 27.74 26.05 24.81 20.12 7.45 -7.75 -24.94 -51.48 -83.17 4.72 -0.31
Core EBITDA Margin(%) 5.58 5.11 6.66 1.14 -7.07 -5.86 -8.65 -8.89 -4.98 -34 -109.08
EBIT Margin(%) 4.53 5.08 5.74 2.46 -2.13 -9.86 -16.28 -17.17 -42.48 450.18 -98.37
Pre Tax Margin(%) -1.06 -1.04 -0.47 -3.82 -11.39 -31.12 -65.91 -71.75 -83.72 443.54 -108.04
PAT Margin (%) -0.47 -0.8 -0.33 -2.53 -10.31 -31.31 -65.91 -71.75 -83.86 443.54 -108.04
Cash Profit Margin (%) 2.13 1.22 1.58 -0.44 -7.7 -24.94 -53.94 -63.12 -44.41 451.09 -99.21
ROA(%) -0.68 -1.04 -0.43 -3 -10.31 -13.99 -17.6 -29.99 -40.99 158.36 -38.98
ROE(%) -3.96 -6.29 -2.64 -19.12 -93.86 0 0 0 0 0 -232.71
ROCE(%) 8.64 9.28 10.85 4.28 -3.23 -7.14 -8.33 -24.14 0 3213.37 -67.5
Receivable days 17.89 17.87 13.12 13.84 13.66 10.92 10.43 7.56 8.17 10.7 10.92
Inventory Days 55.31 62.72 70.92 65.26 38.81 40.99 39.91 17.38 10.05 13.77 23.65
Payable days 44.74 67.58 100.85 93.61 79.94 199.52 353.63 218.03 226.73 430.01 451.7
PER(x) 0 0 0 0 0 0 0 0 0 0.17 0
Price/Book(x) 0.26 0.26 0.58 0.71 1.37 -0.18 0 -0.08 -0.04 1.48 -46.8
Dividend Yield(%) 0 0 0 0 0 0 0 0 0 0 0
EV/Net Sales(x) 0.41 0.43 0.48 0.51 0.53 1.26 2.76 1.86 1.9 1.31 3.92
EV/Core EBITDA(x) 5.76 6 6.15 11.21 -9.06 -36.02 -64.12 -21.75 -68.41 9.57 -4.72
Net Sales Growth(%) 3.23 -12.7 -1.7 -11.36 -23.94 -59.69 -47.16 38.61 1.7 -51.03 -47.37
EBIT Growth(%) -18.42 -1.78 11.09 -62.34 -165.76 -86.33 12.75 -46.22 -151.53 619.01 -111.5
PAT Growth(%) -331.23 -48.01 59.33 -571.51 -209.38 -22.43 -11.24 -50.88 -18.86 359.02 -112.82
EPS Growth(%) -331.26 -48.01 61.36 -539.66 -209.38 -22.43 -11.24 -50.88 -18.86 226.7 -112.82
Debt/Equity(x) 3.38 3.24 3.2 3.52 9.02 -9.39 -2.58 -1.26 -0.82 1.09 -13.9
Current Ratio(x) 0.97 0.9 0.86 0.9 0.62 0.49 0.06 0.04 0.03 0.17 0.18
Quick Ratio(x) 0.53 0.51 0.43 0.67 0.53 0.45 0.04 0.03 0.02 0.13 0.12
Interest Cover(x) 0.81 0.83 0.92 0.39 -0.23 -0.46 -0.33 -0.31 -1.03 67.75 -10.18
Total Debt/Mcap(x) 13.17 12.34 5.55 4.95 6.59 51.25 0 14.99 19.48 0.74 0.3

Shree Rajasthan Syn. Shareholding Pattern

# Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
Promoter 47.4 51.07 51.07 51.07 51.07 51.07 51.07 51.07 44.08 44.08
FII 0 0 0 0 0 0 0 0 0 0
DII 0.02 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01
Public 52.57 48.92 48.92 48.92 48.92 48.92 48.92 48.92 55.92 55.92
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Shree Rajasthan Syn. News

Shree Rajasthan Syn. Pros & Cons

Pros

  • Company has reduced debt.
  • Company is almost debt free.

Cons

  • Promoter holding is low: 44.08%.
  • Company has a low return on equity of -78% over the last 3 years.
  • Debtor days have increased from 430.01 to 451.7days.
  • Stock is trading at 8.2 times its book value.
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