WEBSITE BSE:503837 NSE: SHREE RAJSYN Inc. Year: 1979 Industry: Textile - Manmade Fibres My Bucket: Add Stock
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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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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
Price goes above X
Price falls below X
PE goes above X
PE falls below X
₹ | |
| #(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 |
| #(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 |
| # | 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% |
| #(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 |
| #(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 |
| # | 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 |
| # | 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 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 0.65 | 1.43 | 1.43 | 1.43 | 1.43 | 1.43 | 1.43 | 1.43 | 1.8 | 1.8 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 0.72 | 1.37 | 1.37 | 1.37 | 1.37 | 1.37 | 1.37 | 1.37 | 2.28 | 2.28 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 1.37 | 2.8 | 2.8 | 2.8 | 2.8 | 2.8 | 2.8 | 2.8 | 4.07 | 4.07 |
* The pros and cons are machine generated.
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