Textile · Founded 2010 · www.thomasscott.org · BSE 533941 · NSE TSIL · ISIN INE480M01011
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1. Business Overview
Thomas Scott (India) Ltd. is an Indian textile company primarily engaged in the manufacturing, marketing, and distribution of apparel. Its core business model revolves around creating and selling fashion products, often under its own brand names, to consumers. The company likely operates through various retail channels, which may include exclusive brand outlets, multi-brand outlets, and e-commerce platforms. Revenue is generated directly from the sale of these textile products, predominantly apparel, to the end consumer or retail partners.
2. Key Segments / Revenue Mix
Specific revenue breakdown by product category (e.g., menswear, womenswear, specific fabric types) or sales channel is not readily available without detailed financial reports. However, as a textile company, its primary revenue stream is derived from the sale of finished textile products, most likely branded apparel, in the domestic Indian market.
3. Industry & Positioning
The Indian textile industry is highly fragmented and competitive, characterized by a mix of organized and unorganized players, and covers a vast spectrum from traditional ethnic wear to modern western apparel. Thomas Scott likely positions itself in the branded apparel segment, potentially focusing on a specific demographic or product category (e.g., mid-segment menswear). Compared to large integrated textile giants or global fashion brands, it would typically be a more niche or regional player, striving to build brand identity and market share within its chosen segments in the domestic market.
4. Competitive Advantage (Moat)
For a company of its likely size in a competitive industry, potential competitive advantages could stem from:
Brand Recognition: Consistent quality, design, and marketing efforts can build brand loyalty within its target consumer base.
Distribution Network: An established network of retail partners or exclusive stores can provide access to consumers.
Design & Product Innovation: The ability to adapt to changing fashion trends and offer desirable products.
Cost Efficiency: Effective sourcing and manufacturing could provide a moderate cost advantage, though this is often a baseline requirement in textiles rather than a unique moat.
5. Growth Drivers
Key factors that can drive growth for Thomas Scott over the next 3-5 years include:
Rising Disposable Incomes: Increasing affluence and urbanization in India lead to higher consumer spending on branded apparel.
Fashion Consciousness: Growing awareness of global and domestic fashion trends drives demand for newer styles and branded clothing.
E-commerce Penetration: Expansion into online retail channels can significantly broaden reach and sales volume.
Organized Retail Growth: The shift from unorganized to organized retail provides opportunities for branded players.
Brand Building & Expansion: Strategic investments in marketing, product diversification, and new market penetration.
6. Risks
Key business risks for Thomas Scott include:
Raw Material Price Volatility: Fluctuations in prices of cotton, synthetic fibers, and other textile inputs can impact cost of goods and profitability.
Intense Competition: The Indian apparel market is crowded with numerous domestic and international brands, leading to pricing pressures and margin erosion.
Fashion Obsolescence: Rapid shifts in consumer preferences and fashion trends can lead to inventory write-offs if not managed effectively.
Economic Downturns: Reduced consumer discretionary spending during economic slowdowns directly impacts apparel sales.
Supply Chain Disruptions: Issues in manufacturing, sourcing, or logistics can affect timely delivery and product availability.
7. Management & Ownership
Thomas Scott (India) Ltd., like many Indian companies, is typically promoter-led. The promoters are generally the founding family or individuals who maintain significant ownership and control over the company's strategic direction. Information regarding specific management quality, experience, or detailed ownership structure would be available in the company's annual reports and public filings.
8. Outlook
The company operates in a dynamic Indian textile market with significant long-term growth potential, driven by favorable demographics, increasing consumer incomes, and the formalization of the retail sector. Opportunities exist for brand building, product diversification, and expanding distribution channels, particularly through e-commerce. However, the business faces substantial challenges including intense competition from numerous domestic and international players, volatility in raw material prices, and the need to constantly adapt to evolving fashion trends. Profitability will hinge on effective cost management, efficient supply chain operations, and sustained brand resonance with its target audience.
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 | 23 | 22 | 26 | 27 | 41 | 45 | 48 | 54 | 57 | 66 |
| Other Income | 0 | 2 | 0 | 0 | 1 | 0 | 0 | 0 | 0 | 0 |
| Total Income | 23 | 23 | 26 | 27 | 41 | 46 | 48 | 54 | 57 | 66 |
| Total Expenditure | 20 | 20 | 21 | 24 | 36 | 40 | 41 | 48 | 48 | 58 |
| Operating Profit | 3 | 3 | 4 | 3 | 5 | 6 | 7 | 6 | 8 | 8 |
| Interest | 1 | 1 | 0 | 0 | 0 | 1 | 1 | 0 | 1 | 1 |
| Depreciation | 0 | 0 | 0 | 1 | 1 | 1 | 0 | 1 | 1 | 1 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -0 |
| Profit Before Tax | 2 | 2 | 4 | 2 | 4 | 4 | 6 | 5 | 7 | 6 |
| Provision for Tax | -0 | 0 | -0 | 1 | 1 | 1 | 2 | 2 | 3 | 1 |
| Profit After Tax | 2 | 2 | 4 | 1 | 3 | 3 | 4 | 3 | 5 | 5 |
| Adjustments | 0 | 0 | -0 | 0 | 0 | 0 | 0 | 0 | -0 | 0 |
| Profit After Adjustments | 2 | 2 | 4 | 1 | 3 | 3 | 4 | 3 | 5 | 5 |
| Adjusted Earnings Per Share | 3.2 | 2.8 | 4.1 | 1.3 | 2.5 | 2.7 | 3.3 | 2.4 | 3.2 | 3.4 |
| #(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 | 18 | 13 | 17 | 20 | 22 | 22 | 21 | 32 | 63 | 91 | 161 | 225 |
| Other Income | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 0 |
| Total Income | 18 | 14 | 17 | 20 | 22 | 22 | 22 | 32 | 63 | 91 | 162 | 225 |
| Total Expenditure | 21 | 15 | 17 | 21 | 22 | 23 | 21 | 31 | 58 | 79 | 142 | 195 |
| Operating Profit | -3 | -2 | 1 | -0 | -1 | -1 | 1 | 1 | 5 | 13 | 20 | 29 |
| Interest | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 0 | 1 | 2 | 2 | 3 |
| Depreciation | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 2 | 3 |
| Exceptional Income / Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit Before Tax | -3 | -2 | 1 | -1 | -1 | -2 | -0 | 1 | 3 | 10 | 16 | 24 |
| Provision for Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -0 | 3 | 8 |
| Profit After Tax | -3 | -2 | 0 | -1 | -1 | -2 | -0 | 1 | 3 | 10 | 13 | 17 |
| Adjustments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit After Adjustments | -3 | -2 | 0 | -1 | -1 | -2 | -0 | 1 | 3 | 10 | 13 | 17 |
| Adjusted Earnings Per Share | -10 | -5.2 | 1.4 | -2.2 | -3.6 | -5.7 | -0.3 | 1.1 | 4.5 | 10.2 | 10.1 | 12.3 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 77% | 71% | 49% | 24% |
| Operating Profit CAGR | 54% | 171% | 0% | 0% |
| PAT CAGR | 30% | 135% | 0% | 0% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | -24% | 82% | 106% | 41% |
| ROE Average | 18% | 27% | 18% | -2% |
| ROCE Average | 20% | 26% | 20% | 3% |
| #(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 | 9 | 7 | 8 | 7 | 6 | 4 | 4 | 10 | 14 | 51 | 106 |
| Minority's Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Borrowings | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 2 |
| Other Non-Current Liabilities | 0 | 0 | -1 | -0 | -0 | -0 | -0 | -0 | 16 | 0 | 0 |
| Total Current Liabilities | 5 | 6 | 8 | 13 | 17 | 21 | 32 | 35 | 38 | 17 | 32 |
| Total Liabilities | 14 | 13 | 16 | 20 | 22 | 25 | 36 | 45 | 68 | 69 | 141 |
| Fixed Assets | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 2 | 4 | 8 | 12 |
| Other Non-Current Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1 | 1 | 4 |
| Total Current Assets | 14 | 13 | 16 | 20 | 21 | 24 | 35 | 43 | 63 | 60 | 125 |
| Total Assets | 14 | 13 | 16 | 20 | 22 | 25 | 36 | 45 | 68 | 69 | 141 |
| #(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 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash Flow from Operating Activities | -1 | 0 | -2 | -2 | 0 | 0 | 3 | 3 | -18 | -8 | -39 |
| Cash Flow from Investing Activities | 0 | 0 | 0 | -0 | -1 | -0 | -0 | -1 | -7 | 2 | -6 |
| Cash Flow from Financing Activities | -0 | -0 | 2 | 2 | 1 | 0 | -3 | 1 | 25 | 6 | 45 |
| Net Cash Inflow / Outflow | -1 | 0 | 0 | -0 | 0 | -0 | 0 | 3 | 0 | 0 | -0 |
| Closing Cash & Cash Equivalent | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3 | 0 | 0 | 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) | -9.99 | -5.23 | 1.43 | -2.19 | -3.59 | -5.71 | -0.34 | 1.14 | 4.53 | 10.23 | 10.11 |
| CEPS(Rs) | -9.71 | -5.11 | 1.48 | -2.13 | -3.45 | -4.89 | 0.49 | 1.67 | 5.58 | 11.43 | 11.86 |
| DPS(Rs) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Book NAV/Share(Rs) | 25.59 | 20.36 | 23.63 | 21.44 | 17.86 | 12.16 | 11.86 | 15.75 | 20.73 | 43.16 | 78.94 |
| Core EBITDA Margin(%) | -19 | -14.04 | 3.71 | -0.96 | -2.5 | -3.82 | 3.72 | 3.95 | 7.22 | 13.14 | 11.11 |
| EBIT Margin(%) | -18.96 | -13.19 | 3.86 | -0.98 | -2.71 | -5.05 | 2.84 | 3.49 | 6.22 | 12.16 | 10.26 |
| Pre Tax Margin(%) | -18.99 | -13.2 | 3.16 | -2.92 | -5.35 | -8.67 | -0.38 | 2.15 | 4.61 | 10.31 | 9.1 |
| PAT Margin (%) | -18.99 | -13.2 | 2.78 | -3.64 | -5.63 | -8.89 | -0.53 | 1.94 | 4.46 | 10.33 | 7.33 |
| Cash Profit Margin (%) | -18.48 | -12.91 | 2.89 | -3.53 | -5.41 | -7.62 | 0.78 | 2.84 | 5.5 | 11.54 | 8.6 |
| ROA(%) | -19.3 | -13.24 | 3.4 | -4.19 | -5.78 | -8.14 | -0.37 | 1.54 | 5.09 | 14.65 | 12.22 |
| ROE(%) | -32.65 | -22.76 | 6.5 | -9.74 | -18.27 | -38.02 | -2.81 | 9.9 | 26.34 | 36.15 | 17.99 |
| ROCE(%) | -32.59 | -22.74 | 7.91 | -1.87 | -5.17 | -10.04 | 6.53 | 12.17 | 27.47 | 31.24 | 20.33 |
| Receivable days | 142.39 | 102.29 | 122.4 | 177.47 | 210.62 | 229.42 | 302.06 | 215.44 | 120.46 | 93.98 | 85.8 |
| Inventory Days | 140.62 | 174.16 | 108.93 | 82.26 | 80.47 | 91.67 | 133.62 | 156.4 | 122.04 | 102.26 | 93.27 |
| Payable days | 158.66 | 165.8 | 163.61 | 157.82 | 188.15 | 252.44 | 441.03 | 610.69 | 246.86 | 113.11 | 52.74 |
| PER(x) | 0 | 0 | 8.75 | 0 | 0 | 0 | 0 | 43.78 | 7.8 | 28.78 | 31.89 |
| Price/Book(x) | 0.23 | 0.41 | 0.53 | 0.7 | 0.51 | 0.37 | 0.51 | 3.17 | 1.7 | 6.82 | 4.08 |
| Dividend Yield(%) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EV/Net Sales(x) | 0.11 | 0.2 | 0.35 | 0.44 | 0.39 | 0.36 | 0.28 | 0.75 | 0.32 | 3.22 | 2.62 |
| EV/Core EBITDA(x) | -0.57 | -1.55 | 8.79 | -50.95 | -15.43 | -9.48 | 6.81 | 17.21 | 4.33 | 22.67 | 20.95 |
| Net Sales Growth(%) | -64.41 | -24.67 | 29.6 | 17.55 | 5.68 | 0.64 | -1.36 | 50.62 | 94.29 | 45.33 | 76.45 |
| EBIT Growth(%) | -78.53 | 47.58 | 137.9 | -129.74 | -193.91 | -87.28 | 155.47 | 84.81 | 256.19 | 194 | 51.69 |
| PAT Growth(%) | -76.38 | 47.64 | 127.33 | -253.56 | -63.55 | -59.01 | 94.08 | 649 | 358.07 | 248.06 | 27.7 |
| EPS Growth(%) | -76.38 | 47.63 | 127.33 | -253.56 | -63.55 | -59.01 | 94.08 | 437.45 | 297.38 | 125.88 | -1.22 |
| Debt/Equity(x) | 0 | 0 | 0.26 | 0.55 | 0.89 | 1.54 | 1.05 | 0 | 0.35 | 0.14 | 0.13 |
| Current Ratio(x) | 2.64 | 2.17 | 1.91 | 1.53 | 1.28 | 1.12 | 1.07 | 1.23 | 1.67 | 3.58 | 3.89 |
| Quick Ratio(x) | 1.32 | 1.16 | 1.36 | 1.16 | 0.99 | 0.83 | 0.77 | 0.71 | 1.01 | 1.83 | 2.03 |
| Interest Cover(x) | -589.72 | -1768.35 | 5.52 | -0.5 | -1.03 | -1.39 | 0.88 | 2.62 | 3.88 | 6.55 | 8.88 |
| Total Debt/Mcap(x) | 0 | 0 | 0.49 | 0.79 | 1.76 | 4.2 | 2.07 | 0 | 0.2 | 0.02 | 0.03 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 64.54 | 60.12 | 58.8 | 57.86 | 57.85 | 55.55 | 52.15 | 52.15 | 52.15 | 52.32 |
| FII | 1.06 | 0.7 | 0.32 | 0.3 | 0.57 | 0.84 | 0 | 0.02 | 0 | 0.05 |
| DII | 0 | 0.61 | 1.02 | 0.99 | 2.02 | 2.33 | 1.97 | 2.46 | 2.45 | 2.45 |
| Public | 34.4 | 38.56 | 39.86 | 40.85 | 39.55 | 41.27 | 45.88 | 45.36 | 45.39 | 45.17 |
| 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 | 0.55 | 0.59 | 0.63 | 0.65 | 0.65 | 0.7 | 0.77 | 0.77 | 0.77 | 0.77 |
| FII | 0.01 | 0.01 | 0 | 0 | 0.01 | 0.01 | 0 | 0 | 0 | 0 |
| DII | 0 | 0.01 | 0.01 | 0.01 | 0.02 | 0.03 | 0.03 | 0.04 | 0.04 | 0.04 |
| Public | 0.29 | 0.38 | 0.43 | 0.46 | 0.45 | 0.52 | 0.67 | 0.67 | 0.67 | 0.66 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 0.85 | 0.98 | 1.08 | 1.13 | 1.13 | 1.27 | 1.47 | 1.47 | 1.47 | 1.47 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | +77% | +71% | +49% | +24% |
| Operating Profit CAGR | +54% | +171% | — | — |
| PAT CAGR | +30% | +135% | — | — |
| Share Price CAGR | -24% | +82% | +106% | +41% |
| ROE Average | +18% | +27% | +18% | -2% |
| ROCE Average | +20% | +26% | +20% | +3% |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 64.54 | 60.12 | 58.8 | 57.86 | 57.85 | 55.55 | 52.15 | 52.15 | 52.15 | 52.32 |
| FII | 1.06 | 0.7 | 0.32 | 0.3 | 0.57 | 0.84 | 0 | 0.02 | 0 | 0.05 |
| DII | 0 | 0.61 | 1.02 | 0.99 | 2.02 | 2.33 | 1.97 | 2.46 | 2.45 | 2.45 |
| Public | 35.46 | 39.88 | 41.2 | 42.14 | 42.15 | 44.45 | 47.85 | 47.85 | 47.85 | 47.68 |
| 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 | 0.55 | 0.59 | 0.63 | 0.65 | 0.65 | 0.7 | 0.77 | 0.77 | 0.77 | 0.77 |
| FII | 0.01 | 0.01 | 0 | 0 | 0.01 | 0.01 | 0 | 0 | 0 | 0 |
| DII | 0 | 0.01 | 0.01 | 0.01 | 0.02 | 0.03 | 0.03 | 0.04 | 0.04 | 0.04 |
| Public | 0.3 | 0.39 | 0.44 | 0.48 | 0.48 | 0.56 | 0.7 | 0.7 | 0.7 | 0.7 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 0.85 | 0.98 | 1.08 | 1.13 | 1.13 | 1.27 | 1.47 | 1.47 | 1.47 | 1.47 |
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