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Manomay Tex India Ltd (MANOMAY)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 540396 NSE: MANOMAY Textile - Weaving | Small Cap | Manomay Tex India Share Price

₹228.40 4.80 (2.15%)

As on 18-Sep'26 16:59

Manomay Tex India Ltd (MANOMAY)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 540396 NSE: MANOMAY Textile - Weaving | Small Cap | Manomay Tex India Share Price

₹228.40 4.80 (2.15%)

As on 18-Sep'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹412 Cr.
Current Price
₹228.4
52-Week Low / High
₹165 / 280
TTM EPS
-
TTM Sales
-
Book Value per Share
-
P/E Ratio
Industry PE
14.9
Price to Book (P/B)
Price to Sales (P/S)
EV/EBITDA
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
%
Return on Capital Employed (ROCE)
%
Return on Assets (ROA)
%
Operating Profit Margin
0%
Net Profit Margin
-%
Gross Profit Margin
0%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
19.52%
Operating Profit Growth (1 Year)
-
-
Net Profit Growth (1 Year)
-
-
Asset Quality
Promoter Holding
57.31%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
-
Equity
₹18.1 Cr.
Face Value
₹10
All Time Low / High
₹23.45 / 316.80

Manomay Tex India stock performance

Key Ratios
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Check Before You Invest

Valuation

Overvalued

Price Trend

Strong
Q.1 Is Manomay Tex India Ltd a good quality company?
Manomay Tex India Ltd is a weak quality company, based on a inconsistent multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does Manomay Tex India Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Manomay Tex India Ltd vs industry peers?
Manomay Tex India Ltd revenue CAGR is %, compared to the industry median CAGR of 0%, indicating stable growth and maintaining its market share.
Q.1 Promoter shareholding and pledge status of Manomay Tex India Ltd?
Promoters hold 57.31% of the Manomay Tex India Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Manomay Tex India Ltd over the last decade?
Over the last 5 year(s), the stock has delivered a CAGR of 50.08% based on the current price.

10 Year X-Ray :

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Manomay Tex India Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good

Value Creation

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % 10.3%10.3%11.8%11.4%11.2%7.1%11.3%12.9%10.1%12.7%-
Value Creation
Index
-0.3-0.3-0.2-0.2-0.2-0.5-0.2-0.1-0.3-0.1-

Growth Parameters

Sales 217273286377405321590699583697744
Sales YoY Gr.-25.3%5%31.7%7.7%-20.8%83.5%18.6%-16.6%19.5%-
Adj EPS 1.41.82.63.74.51.95.27.27.210.711.2
YoY Gr.-25.5%48%42%22%-58.6%178.7%37.2%-0.1%48.6%-
BVPS (₹) 242830.735.44041.846.264.271.582.197.5
Adj Net
Profit
1.32.23.34.76.72.87.7131319.320
Cash Flow from Ops. 7.54.58.211.518.9-1.1-9.411.712.84.2-
Debt/CF from Ops. 7.111.39.78.24.6-87.4-15.112.423.479.1-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 13.8%11.4%5.7%19.5%
Adj EPS 25.2%18.6%26.8%48.6%
BVPS14.6%15.5%21.1%14.9%
Share Price - 50.1% 17.4% 32.8%

Key Financial Parameters

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
7.17.98.911.312.94.611.914.110.613.912.4
Op. Profit
Mgn %
44.66.26.86.35.54.968.312.311.3
Net Profit
Mgn %
0.60.81.21.31.60.91.31.92.22.82.7
Debt to
Equity
2.51.42.12.11.51.52.11.32.32.2-
Working Cap
Days
506386103120163123139198197107
Cash Conv.
Cycle
192938425284729314514730

Valuation of Manomay Tex India - Consolidated

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

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No data found!

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Financials

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Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Manomay Tex India Ltd FAQs

The current trading price of Manomay Tex India on 18-Sep-2026 16:59 is ₹228.4.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 17-Sep-2026 the market cap of Manomay Tex India stood at ₹412.2 Cr

The latest P/E ratio of Manomay Tex India as of 17-Sep-2026 is 20.47.

The latest P/B ratio of Manomay Tex India as of 17-Sep-2026 is 2.34.

The 52-week high of Manomay Tex India is ₹279.6 and the 52-week low is ₹164.7.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Manomay Tex India is ₹744 ( Cr.) .

Past 10 year’s financial track record analysis by Moneyworks4me indicates that Manomay Tex India Ltd is a below average quality company.

The key valuation ratios of Manomay Tex India Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of Manomay Tex India Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing

About Manomay Tex India Ltd

Manomay Tex India was originally incorporated as ‘Manomay Tex India Private Limited’ at Bhilwara, Rajasthan as a Private Limited Company under the provisions of the Companies Act, 1956 vide Certificate of Incorporation dated April 13, 2009 issued by Registrar of Companies, Rajasthan. Subsequently, the company was converted into Public Company pursuant to Shareholders resolution passed at the Extraordinary General Meeting of Company held on January 02, 2017 and the name of company was changed to Manomay Tex India Limited and a fresh Certificate of Incorporation Consequent upon Conversion from Private Company to Public Company dated January 06, 2017.

It primarily manufactures and sells denims & denim fabrics in domestic and international markets. They are known and identified in textile industry by the brand name ‘Manomay’. The company has ventured into several overseas markets, and its customer base is currently distributed across India as well as places such as Latin America, the Middle East, and Asia.  Their customers are mostly traders of fabrics who in turn sell products to industrial users. Their integrated manufacturing facility and their relationship with traders are key factors of success in the industry.

The denim manufactured by it ranges from 9 to 14 Oz/ Sq. yd. with different blends of cotton, polyester, etc. with foam and wet finishes. The unit is equipped with adequate facilities and machineries. It procures the raw materials i.e. yarn from its Spinning Unit and the local suppliers and weave fabric. The process of sizing, dyeing and finishing is done itself and outsourced to the third parties. Its integrated manufacturing facility and its relationship with its traders are key factors of success in the industry.

Business area of the company

The company primarily manufactures and sells denims & denim fabrics in India and international markets. They are known and identified in textile industry by the brand name ‘Manomay’.

Product segments of the company:

  • 2/1 Twill: Very similar to 3/1 Basic Weave, 2/1 is just two warp threads for every weft thread, mainly used for light weight denim.
  • 3/1 Twill: The Most Common Weave for Denim Fabric. 3/1 is just three warp threads for every waft thread and create a subtle diagonal ribbing pattern.
  • Satin: A type of Fabrics weave that produces a characteristically glossy, smooth or lustrous denim.
  • Dobby: Denim that’s produced on dobby loom, characterised by small geometric pattern and extra texture.
  • Knitt Dobby: A diagonal ribbing pattern denim with heavy weight.

Awards and recognitions

  • 2017-2018: Company has Won TEXPROCIL Export Award 2017-18 in Gold Plaque for the Highest Exports of 'Denim Fabrics' under Category I from the Cotton Textiles Export Promotion Council.
  • 2018-2019: Gold Trophy for the Highest Exports of (Cotton) ‘Denim Fabrics'. Under Category II (Export performance above Rs 75 crore and up to Rs 250 crore) from the Cotton Textiles Export Promotion.
  • 2019-2020: Gold Trophy for the Highest Exports of (Cotton) ‘Denim Fabrics'. Under Category II (Export performance above Rs 75 crore and up to Rs 250 crore) from the Cotton Textiles Export Promotion.
  • 2019-2020: Rajasthan State Export Award 2020 from Government of Rajasthan Department of Industries & Commerce.
  • 2020-2021: Gold Trophy for the Highest Exports of (Cotton) ‘Denim Fabrics'. Under Category II (Export performance above Rs 75 crore and up to Rs 250 crore) from the Cotton Textiles Export Promotion.
  • 2022-2023: Silver Trophy for the Second Highest Exports of (Cotton) ‘Denim Fabrics'. Under Category II (Export performance above Rs 75 crore and up to Rs 250 crore) from the Cotton Textiles Export Promotion.

History and milestones

  • 1978: Established as Dhanlaxmi Group, specializing in a wide range of Tex fabrics.
  • 1989: Graduated from Dhanlaxmi group to Dhanlaxmi Synthetics, by installing Auto Looms at Ichalkaranji, Maharashtra.
  • 1994: The foundation of Dhanlaxmi Weaving, specializing in wide range of Cotton Dhoties.
  • 2000: Started the marketing of suiting fabrics in Bhilwara with the name of Mahalaxmi Synthetics.
  • 2003: Renamed Mahalaxmi Synthetics to Citifab Suitings.
  • 2006: Embarked on a new journey with a new plant of weaving established in Village Tradal Ichalkaranji. A Production Capacity of 45,00,000 m / annum.
  • 2009: Laid the foundation of Manomay Tex India Private Limited.
  • 2011: Purchased manufacturing unit in Rajasthan to foray its commercial production.
  • 2012: Made a remarkable entry in the world of denims with a new and grand plant at Aaraji No.5, 6, 7, Jojro ka Khera, Gangrar, Chittorgarh, Rajasthan, with wide range of Denim Texs.
  • 2013: Began commercial production of Denim Fabrics.
  • 2015: Expansion of its production capacity, established a New Line of Denim Machineries.
  • 2017: Converted company from Private Limited to Public Limited in January 2017.
  • 2017: Listed its equity shares at BSE Limited on SME Platform in March.
  • 2017: Expansion of Denim Plant: Installed new and advanced air jet looms and Indigo Dyeing Machineries.
  • 2019: Raised capital through Preferential issue of Rs 7 crore.
  • 2021: During the year, company installed Tsudakoma Brand New Automatic Shuttleless ZAX001NEO Air Jet Looms-36 Sets, at Plant site situated at Aaraji No.5,6,7 Gram-Jojro Ka Khera Tehsil-Gangrar, Dist.: Chittorgarh (Rajasthan) & company’s production capacity increased by 33%. Company has also removed 36 old looms.
  • 2022: The company applied for registration of 1.1 MW Solar PV power project at plant Aaraji No.5,6,7, Jojro Ka khera, gangrar, Chittorgarh (Rajasthan) for captive use under Rajasthan Solar Energy Policy, 2019 and this registration was approved by Rajasthan Renewable Energy Corporation Limited on July 06, 2022.
  • 2023: In the year 2022-23, the company has migrated from BSE Limited SME to BSE Limited mainboard and direct listing in NSE Limited mainboard. And also raised capital through Preferential issue of Rs 35 crore.
  • 2024: The company has successfully setup and commenced the commercial production of cotton yarn at its spinning plant in Undawa, Gangrar, Chittorgarh, Rajasthan (India).
  • 2025: In the Year 2025, the company has installed additional spindles for enhancing its existing capacity of Spinning unit. The additional 864 spindles which will lead to increasing production capacity. 
  • 2025: Manomay Tex India Limited has undertaken a forward integration initiative by entering the denim apparel segment under its own consumer brand, ‘Manomay - India’s First Denim CoreWear Brand.’ The company has a soft launch of its e-commerce platform on May 02, 2025, offering products such as denim formal pants, jeans, shorts, cargos, and lowers.

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