MFML - Mahalaxmi Fab.
Financial Performance
Revenue Growth by Segment
Consolidated revenue from operations fell 8.9% YoY to INR 155.19 Cr in FY25. Standalone revenue fell 28.1% YoY to INR 64.89 Cr. The Traditional Textiles Processing Division and Wind Power Division are the primary segments.
Geographic Revenue Split
The company caters to both Domestic and Global Markets, though specific percentage splits by region are not disclosed in available documents.
Profitability Margins
Net Profit Margin improved from 0.85% to 5.19% in FY25, largely due to an exceptional item of INR 12.85 Cr. Operating Profit Margin declined from 2.41% to -0.18% due to global textile market volatility.
EBITDA Margin
Operating Profit Margin was -0.18% in FY25, representing a 2.59% decline YoY, reflecting core profitability challenges from market volatility and operational disruptions.
Capital Expenditure
The company invested INR 6.18 Cr in property, plant, and equipment during the first half of FY26 (ended September 30, 2025).
Credit Rating & Borrowing
The Interest Coverage Ratio stood at 4.50 times in FY25, a 32.30% decrease from the previous year. Consolidated interest costs for H1 FY26 were INR 1.59 Cr.
Operational Drivers
Raw Materials
High-quality cotton fabric is the primary raw material, though its specific percentage of total cost is not disclosed.
Manufacturing Efficiency
Inventory turnover was 92.04 times in FY25, representing a 31.36% decrease YoY, indicating reduced manufacturing throughput efficiency.
Strategic Growth
Expected Growth Rate
Not disclosed
Growth Strategy
Growth is targeted through infrastructure upgrades, continuous sourcing of high-quality cotton fabric, and leveraging the Traditional Textiles Processing Division's capabilities in bleaching, dyeing, and printing for global markets.
Products & Services
Bleached, dyed, printed, and finished fabrics used for apparels and home textiles.
Brand Portfolio
Mahalaxmi Fabric Mills.
Market Expansion
The company is focusing on strengthening business relationships and catering to both Domestic and Global Markets.
External Factors
Industry Trends
The textile industry is experiencing global volatility; the company is positioning itself by focusing on sustainable practices and high-quality fabric processing.
Competitive Moat
Moat is derived from integrated processing capabilities (bleaching to finishing) and a captive wind power division, providing some cost and operational stability.
Macro Economic Sensitivity
Highly sensitive to global and domestic supply/demand conditions and changes in government regulations or tax laws.
Consumer Behavior
Demand is driven by apparel and home textile trends in both domestic and international markets.
Geopolitical Risks
Global market volatility in textile products is cited as a major factor for margin compression.
Regulatory & Governance
Industry Regulations
Operations are subject to government regulations, tax laws, and textile industry standards.
Environmental Compliance
The company places special focus on adopting sustainable business practices and operates a wind power division.
Taxation Policy Impact
Current tax provision for H1 FY26 was INR 1.07 Cr on a consolidated basis.
Risk Analysis
Key Uncertainties
Operational risks from fire incidents (as seen in April 2024) and volatility in global textile demand are primary uncertainties.
Third Party Dependencies
Dependency on raw cotton fabric suppliers is implied, but specific vendor concentration is not disclosed.
Technology Obsolescence Risk
The company is mitigating technology risks by continuously upgrading its infrastructure.
Credit & Counterparty Risk
Debtor turnover was 3.88 times in FY25, a 33.49% change from the previous year, indicating shifting receivables quality.