Small Textiles
Market Cap
₹3,719 ₹3,719 Cr.
P/E
0.00
PEG = P/E ÷ 5yr forward EPS CAGR
5yr forward EPS CAGR thesis · Base case

Base case hinges on converting polyester capacity bookings into recurring job-work income while domestic product sales recover gradually; job work is the single largest growth contributor.

The bear case materialises if domestic and export product-sales weakness coincide, while the bull case requires job-work conversion to accelerate alongside stronger domestic product sales.

Key monitor is the consolidated EBITDA margin trigger in Q2 FY27; missing it would shift the path toward the bear case.

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5Y Revenue & EBITDA Estimates
KEY TRIGGERS TO WATCH
  • Base case hinges on converting polyester capacity bookings into recurring job-work income while domestic product sales recover gradually; job work is the single largest growth contributor.
  • The bear case materialises if domestic and export product-sales weakness coincide, while the bull case requires job-work conversion to accelerate alongside stronger domestic product sales.
  • Key monitor is the consolidated EBITDA margin trigger in Q2 FY27; missing it would shift the path toward the bear case.
Bear : 0.4% CAGR ₹186 Cr
Base: 5.4% CAGR ₹236 Cr
Bull: 9.5% CAGR ₹286 Cr
Management Credibility Report
TRACK RECORD
  • Management is credible on discrete technology projects, like the SAP core-module rollout, but consistently overpromises on physical plant revamps, which remain unfinished long after their original completion dates.
  • Market-recovery and home-textile outlooks are vague and lack measurable targets, so they cannot be independently verified and should be treated as scenarios rather than commitments.
  • The pattern is strong narrative confidence with weak conversion of approved capital and broad forecasts into delivered results.
Met : 1
Progress: 1
Missed : 8
Risk Probe Report
WORST-CASE SCENARIO
  • Risk profile is fundamentally distressed: negative equity, a debt burden far beyond operating earnings, and resolution-plan debt carried at cost obscure the true economic liabilities.
  • The existential scenario is the 2028 resolution-plan debt reset, when interest or principal demands would outstrip any plausible operating cash flow and force another restructuring.
  • Operating cash flow has been supported by working-capital releases rather than sustainable earnings, leaving the company exposed if customers or commodity spreads move adversely.
High Risk : 3
Medium Risk : 13
Low Risk : 0
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