Rajapalayam Mills financials: balance sheet, profit and loss, cash flow

NSE: RAJPALAYAMBSE: 532503Textiles & ApparelsSmall Cap

Rajapalayam Mills Limited · Face value ₹10 · Listed Sep 2003

₹695.70₹1.85 (0.27%)BSE ₹698.00

Share price at the NSE close on 29 Oct 2026. Previous close ₹693.85.

29 Oct: open ₹693.05, high ₹702.00, low ₹681.00

52-week range of BSE trades to 29 Oct 2026

₹668.00Low, 30 Mar 2026₹899.00High, 10 Nov 2025

Next results date: the board meets on 3 Nov 2026 to consider: quarterly results. Results calendar

Market cap: ₹641 Cr1,652nd largest listed
P/E: 5.18
P/B: 0.26
Dividend yield: 0.07%
ROE: 5.2%
ROCE: 1.7%
Debt to equity: 0.47
Volume, NSE: 31158.2% delivered

Rajapalayam Mills' financial statements for the 10 years to Mar 2026, consolidated: the company and its subsidiaries together, with the twelve months to Jun 2026 after them.

10 years at a glance

₹ crore, years to March.Rajapalayam Mills annual reports

Revenue, net profit and borrowings, ₹ crore

Revenue
Net profit
Borrowings

Peak revenue ₹942 Cr, year to Mar 2026; lowest ₹358 Cr, year to Mar 2020

Operating and net margin, per cent

From Apr 2019 leases sit on the balance sheet: rent is charged as depreciation and interest instead, so operating profit and total assets step up with nothing about the business having changed. Borrowings here leave lease liabilities out. Lease payments were 0.1% of operating profit in the first full year.

Results for the year to Mar 2026

Consolidated: the company and its subsidiaries together. ₹ crore.

From revenue to net profit

Revenue942
Materials and goods−485
Employee costs−131
Other expenses−205
Operating profit122
Depreciation−75
Other income+17
One-off items+0.8
Finance costs−92
Profit before tax−28
Tax+5.1
Joint ventures+137
Net profit114

What the company owns

Plant, investments and other assets₹3,192 Cr
Inventory₹308 Cr
Receivables₹214 Cr
Cash and bank₹7 Cr

What pays for it: net worth and liabilities

Net worth₹2,428 Cr
Borrowings₹1,141 Cr
Other liabilities₹134 Cr
Owed to suppliers₹18 Cr

Rajapalayam Mills business segments, year to Mar 2026

A reportable segment is a line of business the company must report on its own. Consolidated, ₹ crore, as the company reports them.Rajapalayam Mills segment results by quarter

Revenue by segment

₹996 CrTotal

TEXTILES₹942 Cr94.6% of total
WIND MILLS₹54 Cr5.4% of total

Profit by segment

TEXTILES₹29.7 Cr50.1% of total
WIND MILLS₹29.6 Cr49.9% of total

Segment results by year

Consolidated, ₹ crore, years to March.

TEXTILES
Revenue, ₹ crore
413
358
412
690
862
859
898
942
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
0
−19
−30
68
61
7
−9
30
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
WIND MILLS
Revenue, ₹ crore
41
40
38
39
39
44
43
54
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26
Profit, ₹ crore
23
23
21
22
20
23
22
30
Mar 19Mar 20Mar 21Mar 22Mar 23Mar 24Mar 25Mar 26

₹ crore	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Revenue of all businesses	454	398	449	729	901	902	942	996
Company revenue, as in its results	413	358	412	690	862	859	898	942
Revenue	413	358	412	690	862	859	898	942
Revenue growth	–	−13.3%	15.1%	67.5%	25.0%	−0.4%	4.6%	4.8%
Profit	0	−19	−30	68	61	7	−9	30
Profit growth	–	–	–	–	−11.0%	−88.0%	–	–
Margin	0.1%	−5.3%	−7.2%	9.9%	7.1%	0.8%	−1.0%	3.2%
Return on capital	–	−2.6%	−4.0%	6.8%	4.1%	0.5%	−0.6%	2.2%
Assets	–	774	790	1,086	1,542	1,612	1,649	1,477
Liabilities	–	42	56	81	68	83	86	129
Capital employed	–	733	734	1,005	1,474	1,530	1,562	1,348
Revenue	41	40	38	39	39	44	43	54
Revenue growth	–	−4.1%	−5.5%	4.5%	−0.2%	11.7%	−1.5%	25.9%
Profit	23	23	21	22	20	23	22	30
Profit growth	–	−2.8%	−7.9%	2.6%	−5.0%	11.3%	−3.6%	34.8%
Margin	56.5%	57.3%	55.9%	54.9%	52.2%	52.0%	50.9%	54.5%
Return on capital	–	38.3%	38.0%	42.1%	43.4%	53.0%	56.6%	85.6%
Assets	–	59	55	51	47	43	39	35
Liabilities	–	0	0	0	0	0	0	0
Capital employed	–	59	55	51	47	43	39	35
	0	0	0	0	0	0	0	0
Profit	12	5	4	4	4	3	2	4
Assets	0	1,597	1,726	1,860	1,883	1,861	1,905	2,210
Liabilities	0	601	624	791	1,162	1,132	1,192	1,165
	–	–	–	0	0	0	0	0
Profit	–	–	–	6	7	27	1	1
Assets	–	–	–	0	0	0	0	0
Liabilities	–	–	–	0	0	0	0	0

Profit is before tax and finance costs, the way companies report their segments.

Profit and loss

Consolidated, ₹ crore, years to March. The last column is the twelve months to Jun 2026, the latest four quarters added.Rajapalayam Mills quarterly results

₹ crore	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023Filed 24 May	Mar 2024	Mar 2025	Mar 2026Filed 28 May	Jun 2026Twelve monthsFiled 13 Aug
Revenue from operations	407	426	413	358	412	690	862	859	898	942	1,015
	332	368	361	323	375	561	730	769	825	821	878
Materials and goods bought	204	240	218	186	232	344	463	511	521	485	520
Employee costs	–	–	59	57	57	84	102	105	122	131	134
Other expenses	–	–	84	80	86	133	164	153	182	205	224
Operating profit before depreciation	75	58	52	35	36	129	132	90	73	122	136
Operating margin	18.4%	13.7%	12.6%	9.7%	8.8%	18.7%	15.3%	10.5%	8.2%	12.9%	13.4%
Materials, % of revenue	–	–	52.9%	51.9%	56.3%	49.9%	53.7%	59.5%	58.0%	51.5%	51.3%
Employee costs, % of revenue	–	–	14.3%	16.0%	13.9%	12.2%	11.9%	12.2%	13.6%	13.9%	13.2%
Other expenses, % of revenue	–	–	20.3%	22.4%	20.9%	19.3%	19.1%	17.9%	20.2%	21.7%	22.1%
Depreciation and amortisation	21	33	32	34	48	50	57	67	75	75	75
Operating profit after depreciation	54	25	20	1	−11	78	75	23	−2	46	61
Other income	7	6	16	9	7	16	10	10	17	17	19
Finance costs	23	18	22	26	44	43	55	74	91	92	89
Profit before one-off items and tax	38	14	14	−16	−49	51	30	−41	−76	−29	−10
One-off items	0	0	0	0	0	6	7	27	1	1	0
Profit before tax	38	14	14	−16	−49	57	38	−14	−75	−28	−10
	3	−4	−2	−5	−12	38	6	−5	−16	−5	0
Current tax	8	3	0	0	0	0	1	0	0	0	0
Deferred tax	−6	−7	−2	−5	−12	38	5	−5	−16	−5	0
Share of profit of joint ventures and associates	110	–	89	103	139	148	50	54	76	137	133
Net profit	145	115	104	92	101	167	82	44	17	114	124
Other comprehensive income	–	–	−1	−1	1	0	1	16	−4	−1	−4
Total comprehensive income	–	–	104	91	102	166	83	61	13	114	120
Net margin	35.7%	27.1%	25.3%	25.7%	24.6%	24.2%	9.5%	5.2%	1.9%	12.1%	12.2%
Net margin without joint ventures and associates	8.7%	–	3.8%	−3.2%	−9.1%	2.7%	3.7%	−1.1%	−6.6%	−2.4%	–

Materials, employee costs and other expenses are shown for the years they add up to operating expenses; for the years to Mar 2017 and Mar 2018 they do not, so they are left blank.

Balance sheet

Consolidated, ₹ crore, at 31 March.

₹ crore	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023Filed 24 May	Mar 2024	Mar 2025	Mar 2026Filed 28 May
	1,701	1,789	1,890	2,126	2,242	2,302	2,314	2,428
Share capital	7	7	7	9	9	9	9	9
Reserves	1,694	1,781	1,883	2,117	2,233	2,292	2,305	2,419
	396	510	618	742	1,109	1,082	1,108	1,141
Repayable after a year	196	310	302	312	481	496	531	484
Repayable within a year	200	200	317	430	627	586	577	658
	310	311	370	511	695	668	663	733
Trade payables	19	18	15	18	15	24	29	18
Other financial liabilities	83	87	27	38	26	30	27	26
Provisions	6	6	12	24	27	28	30	32
	222	332	311	361	535	547	615	560
Other financial liabilities	–	0	0	5	5	5	5	5
Other liabilities	0	–	0	0	0	1	51	48
Provisions	3	4	3	0	0	0	0	0
Deferred tax	23	18	6	44	49	45	28	23
Total assets	2,233	2,431	2,571	2,997	3,472	3,516	3,593	3,721
	1,993	2,200	2,320	2,590	2,886	2,972	3,061	3,151
Plant in use, after depreciation	312	575	558	653	677	983	933	890
Plant being built	86	4	10	37	262	15	9	4
Intangible assets	1	3	3	6	5	4	3	3
Property held to earn rent	1	1	1	1	0	0	0	0
Investments	26	26	26	27	2	33	12	10
Stakes in joint ventures and associates	1,478	1,562	1,690	1,817	1,857	1,903	2,047	2,190
Loans given	10	10	10	17	24	10	10	10
Other financial assets	9	10	9	8	21	14	42	34
Other assets	72	10	12	24	38	9	6	10
	240	231	251	408	585	544	532	570
Inventories	149	147	130	249	364	324	305	308
Trade receivables	62	51	77	103	159	168	183	214
Cash and cash equivalents	2	1	0	1	1	1	1	3
Other bank balances	2	5	5	5	5	5	5	5
Other financial assets	9	6	15	7	11	12	22	18
Tax paid in advance	0	–	0	2	0	2	2	1
Other assets	16	21	24	39	46	33	14	23
Net debt	393	504	613	735	1,102	1,076	1,101	1,134

Borrowings are counted again inside the liabilities due within a year and after a year. No balance sheet is on record for the years to Mar 2017 and Mar 2018, so its lines and the ratios worked from it are blank there.

Cash flow

Consolidated, ₹ crore, years to March.

₹ crore	Mar 2021	Mar 2022	Mar 2023Filed 24 May	Mar 2024	Mar 2025	Mar 2026Filed 28 May
	34	4	−46	148	116	66
	35	6	−48	149	116	64
	−8	−143	−182	52	34	−47
Receivables	−26	−27	−55	−9	−16	−31
Inventories	17	−119	−114	40	19	−3
Payables	6	25	−2	12	8	−5
Other working capital	−4	−22	−10	10	23	−7
Tax paid	−1	−3	2	−1	0	1
Capital spending	43	189	355	98	24	35
Free cash flow	−9	−185	−401	50	91	30
	−25	−152	−296	−46	−51	−14
Plant and property sold	2	4	10	5	3	3
Interest received	3	3	6	6	6	7
Dividends received	13	2	12	7	9	8
	−10	149	349	−102	−65	−50
Borrowings raised	108	203	490	45	124	169
Borrowings repaid	−72	−79	−122	−73	−97	−126
Interest paid	−44	−43	−53	−74	−91	−93
Lease payments	0	0	0	0	0	0
Dividends paid	1	0	1	1	1	0
Shares bought back	0	0	0	0	0	0
Shares issued	0	69	35	0	0	0
Net change in cash	−1	1	7	0	0	1

Capital spending is part of cash from investing, and dividends paid, shares bought back and shares issued are part of cash from financing. Each is shown as an amount on a line of its own, and the section's other items are in its total only. No cash flow statement is on record for the years to Mar 2017, Mar 2018, Mar 2019 and Mar 2020.

Consolidated, ₹ per share, years to March.Rajapalayam Mills dividend history

₹ per share	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023Filed 24 May	Mar 2024	Mar 2025	Mar 2026Filed 28 May
Earnings per share	₹197.00	₹157.00	₹142.00	₹125.00	₹137.00	₹194.00	₹94.00	₹48.00	₹19.00	₹124.25
Diluted earnings per share	₹197.00	₹157.00	₹142.00	₹125.00	₹137.00	₹194.00	₹94.00	₹48.00	₹19.00	₹124.25
Dividend per share	₹4.00	₹4.00	₹4.00	₹1.00	₹0.50	₹1.00	₹1.00	₹0.60	₹0.50	₹0.50
Book value per share	–	–	₹2,311.45	₹2,430.43	₹2,568.25	₹2,474.44	₹2,436.64	₹2,501.76	₹2,515.64	₹2,637.72
Dividend payout	2.0%	2.6%	2.8%	0.8%	0.4%	0.5%	1.1%	1.2%	2.7%	0.4%
Shareholder yield	–	–	–	–	0.1%	−8.9%	−6.5%	0.1%	0.1%	0.1%
Market cap at the year end (₹ crore)	626	806	614	367	527	776	518	837	740	655

Ratios

Consolidated, years to March.Rajapalayam Mills PE ratio and valuation

Ratio	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023Filed 24 May	Mar 2024	Mar 2025	Mar 2026Filed 28 May
Revenue growth	–	4.7%	−3.1%	−13.3%	15.1%	67.5%	25.0%	−0.4%	4.6%	4.8%
Operating profit growth	–	−22.2%	−10.9%	−32.9%	4.6%	253.2%	2.7%	−31.9%	−18.6%	65.9%
Net profit growth	–	−20.5%	−9.5%	−11.9%	9.9%	64.6%	−50.8%	−45.8%	−61.6%	570.7%
Earnings per share growth	–	−20.3%	−9.6%	−12.0%	9.6%	41.6%	−51.5%	−48.9%	−60.4%	553.9%
	–	–	6.1%	5.3%	5.5%	8.3%	3.7%	2.0%	0.7%	4.8%
	–	–	–	−0.9 pts	0.2 pts	2.8 pts	−4.5 pts	−1.8 pts	−1.2 pts	4.1 pts
From the net margin	–	–	–	0.1 pts	−0.2 pts	−0.1 pts	−5.0 pts	−1.7 pts	−1.2 pts	4.0 pts
From asset turnover	–	–	–	−1.1 pts	0.4 pts	2.7 pts	0.2 pts	−0.2 pts	0.0 pts	0.1 pts
From borrowing	–	–	–	0.1 pts	0.1 pts	0.2 pts	0.2 pts	0.1 pts	0.0 pts	0.0 pts
Return on capital employed	–	–	1.0%	0.0%	−0.4%	2.7%	2.3%	0.7%	−0.1%	1.3%
Cash conversion	–	–	–	–	33.5%	2.1%	−55.7%	334.7%	678.3%	57.3%
Interest cover	2.3	1.4	0.9	0.0	–	1.8	1.4	0.3	–	0.5
Debt to equity	–	–	0.23	0.29	0.33	0.35	0.49	0.47	0.48	0.47
Receivable days	–	–	55	52	68	55	67	71	74	83
Inventory days	–	–	249	288	204	264	287	232	213	231
Payable days	–	–	32	36	23	19	12	17	21	14
Cash conversion cycle, days	–	–	272	304	250	300	342	286	267	300
Working capital days	–	–	112	116	170	170	217	194	178	189
Asset turnover	–	–	0.18	0.15	0.16	0.25	0.27	0.25	0.25	0.26
Assets per rupee of net worth	–	–	1.31	1.34	1.36	1.39	1.48	1.54	1.54	1.54
Sales per rupee of plant	–	–	1.32	0.62	0.74	1.06	1.27	0.87	0.96	1.06
Capital spending to depreciation	–	–	–	–	0.89	3.74	6.28	1.46	0.32	0.47
Plant being built, % of plant in use	–	–	27.5%	0.6%	1.8%	5.7%	38.7%	1.5%	0.9%	0.5%

Interest cover is left blank for the years to Mar 2021 and Mar 2025: operating profit after depreciation is a loss, and a loss covers no interest bill. No balance sheet is on record for the years to Mar 2017 and Mar 2018, so its lines and the ratios worked from it are blank there.

Growth and returns over 3, 5 and 10 years

Consolidated: the company and its subsidiaries together. Each window ends with the year to Mar 2026.

Return on assets, latest year: 3.1%
Cash from operations against operating profit: 53.9%

Measure	10 years	5 years	3 years
Revenue growth, yearly rate	–	18.0%	3.0%
Profit growth, yearly rate	–	2.5%	11.8%
Return on equity, average	–	3.9%	2.5%
Return on capital employed, average	–	1.4%	0.6%
Operating margin, average	12.9%	13.1%	10.5%
Net margin, average	19.1%	10.6%	6.4%
Asset turnover, average	–	0.25	0.25
Cash conversion cycle, days, average	–	299	285
Interest cover, average	–	1.0	0.4
Debt to equity, average	–	0.45	0.47

Where the cash came from and went

Consolidated: the company and its subsidiaries together. ₹ crore, added up over each window, which ends with the year to Mar 2026.

₹ crore	5 years	3 years	Latest year
Cash from operations	288	330	66
Cash from investing	−559	−111	−14
Cash from financing	281	−217	−50
Capital spending	702	158	35
Dividends paid	3	2	0
Shares bought back	0	0	0
Shares issued for cash	104	0	0
Borrowings raised	1,031	338	169
Borrowings repaid	498	297	126

Accounting checks

Consolidated, years to March. Published tests of whether reported profit is backed by cash and the balance sheet.

Check	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Piotroski score, out of 9Published threshold 3 points out of 9	–	–	–	–	6	7	3	4	6	6
Altman Z-scorePublished threshold 1.81	–	–	1.95	1.49	1.59	1.82	1.45	1.58	1.47	1.47
Beneish M-scorePublished threshold −1.78	–	–	–	–	−2.18	−2.13	−1.98	−2.57	−2.66	−2.52
Profit not backed by cash, % of assetsPublished threshold 10 per cent of average total assets	–	–	–	–	3.68	11.31	13.09	−1.66	−1.34	1.71
Cash from operations to profit, 3 yearsPublished threshold 0.7 times	–	–	–	–	–	–	−0.02	0.36	1.52	1.88
Receivables growth less revenue growthOur threshold 0 percentage points	–	–	–	−5.18	36.63	−32.91	29.05	5.72	4.63	11.89
Inventory growth less cost-of-goods growthOur threshold 0 percentage points	–	–	–	13.31	−36.41	43.55	11.29	−21.16	−7.98	7.81
Other current assets growth less revenue growthOur threshold 5 per cent of revenue	–	–	–	0.59	2.83	1.40	0.91	−1.14	−0.99	0.32
Assets under construction, years of additionsOur threshold 2 years of additions	–	–	–	0.01	0.33	0.25	3.28	0.04	0.34	0.12
Effective tax ratePublished threshold 17.16 per cent	6.61	−27.75	−11.77	–	–	67.07	15.67	–	–	–
Tax charged less tax paid, % of profitOur threshold 10 percentage points	–	–	–	–	–	62.59	9.91	–	–	–

A threshold marked as ours has no published figure; it is the line we read the check against.

Credit ratings

An agency's view of the chance the company repays a borrowing on time, from AAA, the highest, down to D, in default.

Date	Agency	Borrowing rated	Rating	Outlook	Amount, ₹ Cr
8 Jul 2026	CARE Ratings Limited	Fund-based - LT-Term Loan	CARE AReview, Re-affirm	Stable	392.10
8 Jul 2026	CARE Ratings Limited	Fund-based - LT/ ST-Working Capital Limits	CARE A / CARE A2+Review, Re-affirm	Stable	225
8 Jul 2026	CARE Ratings Limited	Non-fund-based - ST-Working Capital Limits	CARE A2+Review, Re-affirm		51
8 Jul 2026	CARE Ratings Limited	Fund-based/Non-fund-based-LT/ST	CARE A / CARE A2+Review, Re-affirm	Stable	567
8 Jul 2026	CARE Ratings Limited	Fund-based - LT-Working capital Term Loan	CARE AReview, Re-affirm	Stable	334.65
21 Aug 2025	CRISIL Ratings Limited	Bank FacilitiesLong-term scale	WithdrawnRating Withdrawn		25
21 Aug 2025	CRISIL Ratings Limited	Bank FacilitiesLong-term scale	WithdrawnRating Withdrawn		47.50
21 Aug 2025	CRISIL Ratings Limited	Bank FacilitiesShort-term scale	WithdrawnRating Withdrawn		6
21 Aug 2025	CRISIL Ratings Limited	Bank FacilitiesLong-term scale	WithdrawnRating Withdrawn		12.63
21 Aug 2025	CRISIL Ratings Limited	Bank FacilitiesLong-term scale	WithdrawnRating Withdrawn		9
21 Aug 2025	CRISIL Ratings Limited	Bank FacilitiesLong-term scale	WithdrawnRating Withdrawn		59
21 Aug 2025	CRISIL Ratings Limited	Bank FacilitiesLong-term scale	WithdrawnRating Withdrawn		65.90
21 Aug 2025	CRISIL Ratings Limited	Bank FacilitiesLong-term scale	WithdrawnRating Withdrawn		787
21 Aug 2025	CRISIL Ratings Limited	Bank FacilitiesLong-term scale	WithdrawnRating Withdrawn		126.88
21 Aug 2025	CRISIL Ratings Limited	Bank FacilitiesLong-term scale	WithdrawnRating Withdrawn		42.35
21 Aug 2025	CRISIL Ratings Limited	Bank FacilitiesLong-term scale	WithdrawnRating Withdrawn		64.10
21 Aug 2025	CRISIL Ratings Limited	Bank FacilitiesLong-term scale	WithdrawnRating Withdrawn		122.49
21 Aug 2025	CRISIL Ratings Limited	Bank FacilitiesLong-term scale	WithdrawnRating Withdrawn		99.42
21 Aug 2025	CRISIL Ratings Limited	Bank FacilitiesLong-term scale	WithdrawnRating Withdrawn		2.98
21 Aug 2025	CRISIL Ratings Limited	Bank FacilitiesLong-term scale	WithdrawnRating Withdrawn		27.21

The latest rating on each borrowing. The agency's name opens its reasoning for the rating.