India's Richest People 2026 edition · 1 director · Source: Hurun India
- #1,608 Hrishikesh Arvind Mafatlal & family ₹1,200 Cr
Market Cap
₹800 Cr
MAFATIND · NSE
Share Price
₹110.73
-0.14% today
Revenue
₹3,871 Cr
FY 2025-26 · +37.9% YoY
EBITDA
₹88.70 Cr
Margin 2.3%
Net Profit
₹91.74 Cr
FY 2025-26 · -8.9% YoY
P/E (TTM)
3.3x
P/B 0.2x
ROE
11.8%
ROCE 12.3%
Debt / Equity
0.09
Interest cover 12.1x
About Mafatlal Industries Limited
Data last updated:
Mafatlal Industries Limited is a public limited company based in Ahmedabad, Gujarat, India. It operates in the textile and fabric production segment of the manufacturing sector. It was incorporated on 20 January 1913 and has been in existence for over 113 years.
Its director Hrishikesh Arvind Mafatlal and family are #1,608 among India's richest people (2026).
The company is registered with the Registrar of Companies (ROC), Ahmedabad, under CIN L17110GJ1913PLC000035. Its GSTIN is 07AAACM2813L1ZK (Delhi). The company holds 12 GST registrations, of which 8 are active. It is a listed company as per MCA records. Its shares are listed on BSE: 500264 and NSE: MAFATIND.
The company has an authorised share capital of ₹100 Cr and a paid-up capital of ₹14.44 Cr. It was formerly known as The New Shorrock Spinning & Manufacturing Company Limited. It is led by directors including Priyavrata Hrishikesh Mafatlal (Managing Director) and Hrishikesh Arvind Mafatlal.
Its last annual general meeting (AGM) was held on 04 August 2025, and its latest financial statements are for the year ended 31 March 2026. The registered office is at 301 – 302 Heritage Horizon Third Floor Off. C. G. Road Navrangpura, Ahmedabad, Gujarat, India – 380009.
As per the latest consolidated financials for FY 2025-26, the company reported a revenue of ₹3,871.07 Cr, a growth of 37.9% compared to the previous year. For the same year it recorded a net profit of ₹91.74 Cr (net margin 2.4%) and EBITDA of ₹88.7 Cr (EBITDA margin 2.3%). The net worth stands at ₹771.55 Cr (up 4.1% YoY). Total assets are valued at ₹850.79 Cr (up 2.9% YoY).
The company has about 1,155 employees on its provident fund (EPFO) records. Its group structure includes 1 subsidiary.
The company is associated with 3 brands: Mafatlal Track, Padmanabh Mafatlal Group and Mafatlal Industries. As per MCA filings, the company has open charges of ₹339.04 Cr and satisfied charges of ₹611.43 Cr on record. Court records list 1,046 cases involving the company, including 521 filed by the company and 525 filed against it; 195 cases are pending. The company has 30 deals on record (26 market trades, 2 funding rounds, 2 secondary share transfers), with disclosed funding of ₹90 Cr; the latest was in December 2022. The company has 17 MSME Form 1 returns on record between 2019 and 2024, listing 4,380 overdue payments to 67 micro and small suppliers.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website mafatlals.com.
Company details
CIN L17110GJ1913PLC000035
Registration Number 000035
Incorporation Date 20 January 1913
ROC Ahmedabad
Listing Status Listed - Listed on NSE (MAFATIND); Listed on BSE (500264)
Company Status Active
Compliance Status Active Compliant
CIN history
Mafatlal Industries has one previous CIN (Corporate Identification Number): L17110GJ1971PLC000035. The current CIN is L17110GJ1913PLC000035, which is the unique identifier assigned by the Registrar of Companies.
| CIN | Status |
|---|---|
| L17110GJ1913PLC000035 | Current |
| L17110GJ1971PLC000035 | Previous |
Key People
Priyavrata Hrishikesh Mafatlal Managing Director Hrishikesh Arvind Mafatlal Director Atul Kumar Srivastava Director Recognitions & Rankings of Mafatlal Industries
Contact details
Mafatlal Industries Limited's registered office is in Ahmedabad, Gujarat. Its website is mafatlals.com. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Registered Address301 – 302 Heritage Horizon Third Floor Off. C. G. Road Navrangpura, Ahmedabad, Gujarat, India – 380009
- IndustryManufacturing, Textile & Fabric Production
To see the full contact details of Mafatlal Industries Limited, buy the company report.
Comprehensive company report
Mafatlal Industries Limited - one report that includes everything
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
₹799 ₹999 20% off excluding 18% GST
Secure checkout · GST invoice included
Brands
Mafatlal Industries operates multiple associated brands including Mafatlal Track, Padmanabh Mafatlal Group, and Mafatlal Industries. Each brand links to its own profile.
| Brand | Description | Website |
|---|---|---|
| Offers application-based tracking and monitoring for smart devices. | mafatlaltrack.com | |
| Textile manufacturing, business operations, and social outreach by Mafatlal Group. | pmafatlalgroup.com | |
| Mafatlal Industries is engaged in premium textile manufacturing. | mafatlals.com |
Business activity
The main business activity of Mafatlal Industries is manufacturing. In detail, this covers textile, leather and other apparel products.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| C | Manufacturing | C2 | Textile, leather and other apparel products |
To see the full business activity and turnover split of Mafatlal Industries Limited, buy the company report.
Financials of Mafatlal Industries Limited
FY 2025-26 filings availableMafatlal Industries Limited reported revenue of ₹3,871.07 Cr (up 37.9% YoY) for FY 2025-26.
Financial Highlights
FY 2025-26 · ConsolidatedRevenue
₹3,871 Cr
+37.9% YoY
EBITDA
₹88.70 Cr
+42.4% YoY
Profit After Tax
₹91.74 Cr
-8.9% YoY
Net Worth
₹772 Cr
+4.1% YoY
Total Assets
₹851 Cr
+2.9% YoY
Total Debt
₹63.57 Cr
-9.4% YoY
Revenue vs Net Profit ₹ Cr
Margin trends
Financial summary ₹ Cr
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 3,871 | 2,807 | 2,079 | 1,372 | 1,003 | 603 | 1,006 |
| Revenue growth | +37.9% | +35.1% | +51.5% | +36.8% | +66.4% | -40.0% | - |
| EBITDA | 88.70 | 62.30 | 45.56 | 27.82 | 1.55 | (87.82) | (21.52) |
| EBITDA margin | +2.3% | +2.2% | +2.2% | +2.0% | +0.2% | -14.6% | -2.1% |
| Profit before tax | 94.70 | 74.33 | 79.04 | 39.87 | 31.51 | (91.32) | (13.36) |
| Net profit | 91.74 | 101 | 58.60 | 20.49 | (5.13) | (74.66) | (22.00) |
| Net profit margin | +2.4% | +3.6% | +2.8% | +1.5% | -0.5% | -12.4% | -2.2% |
| EPS (₹) | 12.47 | 13.63 | 13.81 | 5.27 | 20.44 | (67.49) | (9.85) |
| Balance sheet | |||||||
| Total assets | 851 | 827 | 919 | 730 | 820 | 626 | 445 |
| Net worth | 772 | 741 | 814 | 614 | 686 | 466 | 285 |
| Total debt | 63.57 | 70.13 | 82.13 | 94.36 | 113 | 144 | 150 |
| Cash & bank | 259 | 162 | 268 | 73.16 | 90.69 | 58.01 | 35.89 |
| Net working capital | 259 | 211 | 161 | 82.98 | 58.32 | 27.25 | 97.60 |
| Cash flow | |||||||
| Cash from operations | 141 | (83.86) | 159 | (7.14) | 9.52 | 6.72 | 24.14 |
| Cash from investing | (35.38) | (16.96) | (2.31) | 35.93 | 61.11 | 30.56 | 83.52 |
| Cash from financing | (32.51) | (30.24) | (23.09) | (33.63) | (52.41) | (28.77) | (90.89) |
| Particulars | Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 795 | 943 | 884 | 717 | 1,030 | 1,240 | 450 | 910 |
| Revenue growth (YoY) | -22.8% | -24.0% | +96.5% | -21.2% | +3.4% | +174.5% | - | - |
| Other income | 10.12 | 7.73 | 9.03 | 7.14 | 10.94 | 4.56 | 5.56 | 12.76 |
| EBITDA | 11.02 | 18.12 | 10.08 | 10.84 | 24.38 | 43.40 | 11.11 | 13.97 |
| EBITDA margin | +1.4% | +1.9% | +1.1% | +1.5% | +2.4% | +3.5% | +2.5% | +1.5% |
| Depreciation | 4.38 | 4.07 | 4.45 | 4.34 | 4.19 | 3.99 | 4.04 | 3.73 |
| Interest | 2.31 | 2.13 | 1.56 | 2.22 | 2.83 | 2.09 | 2.25 | 2.56 |
| Profit before tax | 14.45 | 19.65 | 13.10 | 11.42 | 28.30 | 41.88 | 10.38 | 20.44 |
| Tax | 3.76 | 4.97 | (4.84) | 7.37 | 6.78 | (3.68) | (12.86) | (3.90) |
| Net profit | 10.69 | 14.68 | 17.94 | 4.05 | 21.52 | 45.56 | 23.24 | 24.34 |
| EPS (₹) | 1.51 | 2.03 | 2.43 | 0.56 | 2.99 | 6.32 | 3.21 | 3.41 |
| Metrics | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | 3,870 | 2,807 | 2,078 | 1,371 | 999 | 602 | 1,005 |
| Revenue growth | +37.9% | +35.1% | +51.7% | +37.1% | +66.0% | -40.1% | - |
| EBITDA | 90.27 | 62.46 | 45.57 | 28.25 | 2.15 | (87.61) | (21.52) |
| EBITDA margin | +2.3% | +2.2% | +2.2% | +2.1% | +0.2% | -14.6% | -2.1% |
| Profit before tax | 96.70 | 74.54 | 79.04 | 40.27 | 32.26 | (91.11) | (13.36) |
| Net profit | 92.83 | 101 | 58.60 | 20.76 | (4.50) | (74.44) | (22.00) |
| Net profit margin | +2.4% | +3.6% | +2.8% | +1.5% | -0.5% | -12.4% | -2.2% |
| EPS (₹) | 12.62 | 13.65 | 13.81 | 5.31 | 20.82 | (67.33) | (9.85) |
| Balance sheet | |||||||
| Total assets | 852 | 827 | 919 | 730 | 819 | 630 | 445 |
| Net worth | 773 | 741 | 815 | 615 | 686 | 467 | 285 |
| Total debt | 63.16 | 70.13 | 82.13 | 94.35 | 112 | 148 | 150 |
| Cash & bank | 258 | 162 | 268 | 73.07 | 89.78 | 57.76 | 35.80 |
| Net working capital | 260 | 211 | 161 | 82.81 | 57.79 | 31.25 | 97.50 |
| Cash flow | |||||||
| Cash from operations | 141 | (83.58) | 159 | (6.33) | 9.76 | 6.98 | 24.12 |
| Cash from investing | (35.48) | (16.85) | (2.32) | 36.49 | 61.27 | 30.14 | 83.52 |
| Cash from financing | (32.85) | (30.64) | (23.09) | (34.19) | (53.46) | (28.77) | (90.89) |
| Particulars | Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 794 | 942 | 883 | 717 | 1,030 | 1,240 | 450 | 910 |
| Revenue growth (YoY) | -22.9% | -24.0% | +96.4% | -21.2% | +3.4% | +174.5% | - | - |
| Other income | 10.13 | 7.75 | 9.02 | 7.16 | 10.96 | 4.57 | 5.56 | 12.78 |
| Total expenses | 783 | 925 | 873 | 706 | 1,005 | 1,196 | 439 | 896 |
| EBITDA | 11.21 | 17.94 | 9.92 | 11.74 | 24.88 | 43.73 | 10.99 | 14.24 |
| EBITDA margin | +1.4% | +1.9% | +1.1% | +1.6% | +2.4% | +3.5% | +2.4% | +1.6% |
| Depreciation | 4.26 | 3.98 | 4.36 | 4.25 | 4.07 | 3.95 | 4.00 | 3.73 |
| Interest | 2.29 | 2.12 | 1.54 | 2.21 | 2.81 | 2.09 | 2.25 | 2.56 |
| Profit before tax | 14.79 | 19.59 | 13.04 | 12.44 | 28.96 | 42.26 | 10.30 | 20.73 |
| Tax | 3.76 | 4.97 | (4.84) | 7.37 | 6.78 | (3.68) | (12.86) | (3.90) |
Financial Statements
Figures in ₹ Cr; negatives in brackets. Updated 14 Nov 2026
| Particulars | Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 795 | 943 | 884 | 717 | 1,030 | 1,240 | 450 | 910 |
| Revenue growth (YoY) | -22.8% | -24.0% | +96.5% | -21.2% | +3.4% | +174.5% | - | - |
| Other income | 10.12 | 7.73 | 9.03 | 7.14 | 10.94 | 4.56 | 5.56 | 12.76 |
| EBITDA | 11.02 | 18.12 | 10.08 | 10.84 | 24.38 | 43.40 | 11.11 | 13.97 |
| EBITDA margin | +1.4% | +1.9% | +1.1% | +1.5% | +2.4% | +3.5% | +2.5% | +1.5% |
| Depreciation | 4.38 | 4.07 | 4.45 | 4.34 | 4.19 | 3.99 | 4.04 | 3.73 |
| Interest | 2.31 | 2.13 | 1.56 | 2.22 | 2.83 | 2.09 | 2.25 | 2.56 |
| Profit before tax | 14.45 | 19.65 | 13.10 | 11.42 | 28.30 | 41.88 | 10.38 | 20.44 |
| Tax | 3.76 | 4.97 | (4.84) | 7.37 | 6.78 | (3.68) | (12.86) | (3.90) |
| Net profit | 10.69 | 14.68 | 17.94 | 4.05 | 21.52 | 45.56 | 23.24 | 24.34 |
| EPS (₹) | 1.51 | 2.03 | 2.43 | 0.56 | 2.99 | 6.32 | 3.21 | 3.41 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 3,871 | 2,807 | 2,079 | 1,372 | 1,003 | 603 | 1,006 |
| Revenue growth | +37.9% | +35.1% | +51.5% | +36.8% | +66.4% | -40.0% | - |
| Other income | 31.67 | 38.06 | 63.82 | 45.20 | 64.36 | 35.65 | 56.77 |
| Total expenses | 3,782 | 2,745 | 2,033 | 1,344 | 1,002 | 691 | 1,027 |
| Employee cost | 63.56 | 59.61 | 61.00 | 53.16 | 44.59 | 54.02 | 88.56 |
| EBITDA | 88.70 | 62.30 | 45.56 | 27.82 | 1.55 | (87.82) | (21.52) |
| EBITDA margin | +2.3% | +2.2% | +2.2% | +2.0% | +0.2% | -14.6% | -2.1% |
| Depreciation | 16.97 | 15.07 | 15.00 | 15.43 | 15.77 | 17.05 | 17.18 |
| Interest | 8.70 | 10.96 | 15.34 | 17.72 | 18.63 | 22.10 | 31.43 |
| Profit before tax | 94.70 | 74.33 | 79.04 | 39.87 | 31.51 | (91.32) | (13.36) |
| Tax | 5.63 | (23.60) | (19.71) | 2.79 | 2.85 | 2.65 | 0.35 |
| Net profit | 91.74 | 101 | 58.60 | 20.49 | (5.13) | (74.66) | (22.00) |
| Net profit margin | +2.4% | +3.6% | +2.8% | +1.5% | -0.5% | -12.4% | -2.2% |
| EPS (₹) | 12.47 | 13.63 | 13.81 | 5.27 | 20.44 | (67.49) | (9.85) |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 14.43 | 14.38 | 14.30 | 14.12 | 14.07 | 13.92 | 13.91 |
| Reserves & surplus | 757 | 727 | 800 | 600 | 672 | 453 | 271 |
| Shareholders' funds (net worth) | 772 | 741 | 814 | 614 | 686 | 466 | 285 |
| Minority interest | (0.09) | 0.33 | 0.01 | 0.01 | 0.23 | 0.05 | 0.05 |
| Secured loans | 53.00 | 68.29 | 81.67 | 93.60 | 110 | 144 | 150 |
| Unsecured loans | 10.57 | 1.84 | 0.46 | 0.76 | 3.05 | 0.00 | 0.74 |
| Total debt | 63.57 | 70.13 | 82.13 | 94.36 | 113 | 144 | 150 |
| Total liabilities | 851 | 827 | 919 | 730 | 820 | 626 | 445 |
| Assets | |||||||
| Gross block | 213 | 196 | 186 | 181 | 170 | 194 | 194 |
| Net block | 86.14 | 84.77 | 85.60 | 94.81 | 97.66 | 122 | 138 |
| Capital work in progress | 9.88 | 0.44 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Investments | 389 | 443 | 631 | 523 | 633 | 444 | 168 |
| Inventories | 106 | 97.29 | 79.92 | 106 | 71.98 | 24.47 | 106 |
| Sundry debtors | 710 | 479 | 638 | 286 | 254 | 217 | 255 |
| Cash & bank balances | 259 | 162 | 268 | 73.16 | 90.69 | 58.01 | 35.89 |
| Loans & advances | 84.28 | 35.65 | 62.84 | 63.05 | 44.48 | 46.61 | 72.16 |
| Total current assets | 1,159 | 775 | 1,049 | 528 | 462 | 346 | 469 |
| Total current liabilities | 899 | 563 | 887 | 445 | 403 | 319 | 371 |
| Net working capital | 259 | 211 | 161 | 82.98 | 58.32 | 27.25 | 97.60 |
| Total assets | 851 | 827 | 919 | 730 | 820 | 626 | 445 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 51.19 | 182 | 48.85 | 53.69 | 35.48 | 26.97 | 10.20 |
| Net cash from operating activities | 141 | (83.86) | 159 | (7.14) | 9.52 | 6.72 | 24.14 |
| Net cash from investing activities | (35.38) | (16.96) | (2.31) | 35.93 | 61.11 | 30.56 | 83.52 |
| Net cash from financing activities | (32.51) | (30.24) | (23.09) | (33.63) | (52.41) | (28.77) | (90.89) |
| Net change in cash | 72.75 | (131) | 133 | (4.84) | 18.21 | 8.50 | 16.77 |
| Closing cash | 259 | 162 | 268 | 73.16 | 90.69 | 58.01 | 35.89 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | +37.9% | +35.1% | +51.5% | +36.8% | +66.4% | -40.0% | - |
| EBITDA growth | +42.4% | +36.7% | +63.8% | +1694.8% | +101.8% | -308.1% | - |
| PBT growth | +27.4% | -6.0% | +98.2% | +26.5% | +9998.0% | -583.5% | +92.6% |
| Net income growth | -8.9% | +71.8% | +186.0% | +499.4% | +93.1% | -239.4% | - |
| Revenue CAGR (3Y) | +41.3% | +40.9% | +51.1% | +10.9% | -0.7% | -19.8% | -6.7% |
| EBITDA CAGR (3Y) | +47.2% | +242.6% | - | - | - | +125.6% | - |
| Profitability & leverage | |||||||
| Net income margin | +2.3% | +3.5% | +4.8% | +2.7% | +2.9% | -15.6% | -1.4% |
| Return on capital employed | +12.3% | +9.3% | +5.6% | +4.0% | +1.6% | 0.0% | 0.0% |
| Return on net worth | +11.8% | +11.9% | +6.8% | +2.4% | -0.8% | 0.0% | 0.0% |
| Debt / equity | 0.09 | 0.10 | 0.12 | 0.16 | 0.22 | 0.39 | 0.45 |
| Long-term debt / equity | 0.04 | 0.03 | 0.04 | 0.05 | 0.09 | 0.16 | 0.15 |
| Interest cover | 12.13 | 23.21 | 50.20 | 143.02 | -131.01 | -21.07 | -81.21 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 18.96 | 14.72 | 11.33 | 7.80 | 5.51 | 3.11 | 5.41 |
| Inventory turnover | 38.16 | 31.69 | 22.33 | 15.39 | 20.80 | 9.24 | 9.53 |
| Debtors turnover | 6.51 | 5.02 | 4.50 | 5.08 | 4.26 | 2.56 | 4.47 |
| EPS (₹) | 12.47 | 13.63 | 13.81 | 5.27 | 20.44 | (67.49) | (9.85) |
| Dividend per share (₹) | 2.25 | 1.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Book value per share (₹) | 106.93 | 103.07 | 113.90 | 87.04 | 487.59 | 335.03 | 204.59 |
| Particulars | Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 794 | 942 | 883 | 717 | 1,030 | 1,240 | 450 | 910 |
| Revenue growth (YoY) | -22.9% | -24.0% | +96.4% | -21.2% | +3.4% | +174.5% | - | - |
| Other income | 10.13 | 7.75 | 9.02 | 7.16 | 10.96 | 4.57 | 5.56 | 12.78 |
| Total expenses | 783 | 925 | 873 | 706 | 1,005 | 1,196 | 439 | 896 |
| EBITDA | 11.21 | 17.94 | 9.92 | 11.74 | 24.88 | 43.73 | 10.99 | 14.24 |
| EBITDA margin | +1.4% | +1.9% | +1.1% | +1.6% | +2.4% | +3.5% | +2.4% | +1.6% |
| Depreciation | 4.26 | 3.98 | 4.36 | 4.25 | 4.07 | 3.95 | 4.00 | 3.73 |
| Interest | 2.29 | 2.12 | 1.54 | 2.21 | 2.81 | 2.09 | 2.25 | 2.56 |
| Profit before tax | 14.79 | 19.59 | 13.04 | 12.44 | 28.96 | 42.26 | 10.30 | 20.73 |
| Tax | 3.76 | 4.97 | (4.84) | 7.37 | 6.78 | (3.68) | (12.86) | (3.90) |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Revenue | 3,870 | 2,807 | 2,078 | 1,371 | 999 | 602 | 1,005 |
| Revenue growth | +37.9% | +35.1% | +51.7% | +37.1% | +66.0% | -40.1% | - |
| Other income | 31.71 | 38.07 | 63.81 | 45.10 | 64.37 | 35.65 | 56.77 |
| Total expenses | 3,780 | 2,745 | 2,033 | 1,342 | 997 | 690 | 1,027 |
| Employee cost | 61.50 | 58.93 | 60.75 | 52.04 | 41.53 | 49.02 | 88.35 |
| EBITDA | 90.27 | 62.46 | 45.57 | 28.25 | 2.15 | (87.61) | (21.52) |
| EBITDA margin | +2.3% | +2.2% | +2.2% | +2.1% | +0.2% | -14.6% | -2.1% |
| Depreciation | 16.63 | 15.03 | 15.00 | 15.36 | 15.67 | 17.05 | 17.18 |
| Interest | 8.65 | 10.96 | 15.34 | 17.72 | 18.59 | 22.10 | 31.43 |
| Profit before tax | 96.70 | 74.54 | 79.04 | 40.27 | 32.26 | (91.11) | (13.36) |
| Tax | 5.63 | (23.60) | (19.71) | 2.79 | 2.95 | 2.64 | 0.35 |
| Net profit | 92.83 | 101 | 58.60 | 20.76 | (4.50) | (74.44) | (22.00) |
| Net profit margin | +2.4% | +3.6% | +2.8% | +1.5% | -0.5% | -12.4% | -2.2% |
| EPS (₹) | 12.62 | 13.65 | 13.81 | 5.31 | 20.82 | (67.33) | (9.85) |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Equity & liabilities | |||||||
| Share capital | 14.43 | 14.38 | 14.30 | 14.12 | 14.07 | 13.92 | 13.91 |
| Reserves & surplus | 759 | 727 | 800 | 601 | 672 | 453 | 271 |
| Shareholders' funds (net worth) | 773 | 741 | 815 | 615 | 686 | 467 | 285 |
| Secured loans | 53.00 | 68.29 | 81.67 | 93.60 | 110 | 144 | 150 |
| Unsecured loans | 10.16 | 1.84 | 0.46 | 0.75 | 2.00 | 4.00 | 0.74 |
| Total debt | 63.16 | 70.13 | 82.13 | 94.35 | 112 | 148 | 150 |
| Total liabilities | 852 | 827 | 919 | 730 | 819 | 630 | 445 |
| Assets | |||||||
| Gross block | 211 | 195 | 186 | 181 | 169 | 191 | 194 |
| Net block | 84.93 | 84.09 | 85.60 | 94.81 | 96.53 | 122 | 138 |
| Capital work in progress | 9.88 | 0.44 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Investments | 391 | 444 | 632 | 523 | 634 | 445 | 169 |
| Inventories | 106 | 97.29 | 79.92 | 106 | 71.96 | 24.47 | 106 |
| Sundry debtors | 710 | 479 | 638 | 286 | 254 | 217 | 255 |
| Cash & bank balances | 258 | 162 | 268 | 73.07 | 89.78 | 57.76 | 35.80 |
| Loans & advances | 84.08 | 35.51 | 62.83 | 63.03 | 44.41 | 46.52 | 72.13 |
| Total current assets | 1,158 | 774 | 1,048 | 528 | 460 | 345 | 469 |
| Total current liabilities | 898 | 563 | 887 | 445 | 403 | 314 | 371 |
| Net working capital | 260 | 211 | 161 | 82.81 | 57.79 | 31.25 | 97.50 |
| Total assets | 852 | 827 | 919 | 730 | 819 | 630 | 445 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Opening cash | 51.17 | 182 | 48.83 | 52.86 | 35.29 | 26.95 | 10.20 |
| Net cash from operating activities | 141 | (83.58) | 159 | (6.33) | 9.76 | 6.98 | 24.12 |
| Net cash from investing activities | (35.48) | (16.85) | (2.32) | 36.49 | 61.27 | 30.14 | 83.52 |
| Net cash from financing activities | (32.85) | (30.64) | (23.09) | (34.19) | (53.46) | (28.77) | (90.89) |
| Net change in cash | 72.56 | (131) | 133 | (4.03) | 17.56 | 8.34 | 16.75 |
| Closing cash | 258 | 162 | 268 | 73.07 | 89.78 | 57.76 | 35.80 |
| Particulars | FY 2025-26 | FY 2024-25 | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|---|---|
| Growth | |||||||
| Sales growth | +37.9% | +35.1% | +51.7% | +37.1% | +66.0% | -40.1% | - |
| EBITDA growth | +44.5% | +37.1% | +61.3% | +1214.0% | +102.5% | -307.1% | - |
| PBT growth | +29.7% | -5.7% | +96.3% | +24.8% | +9998.0% | -582.0% | +92.6% |
| Net income growth | -7.9% | +72.0% | +182.3% | +561.3% | +94.0% | -238.4% | - |
| Revenue CAGR (3Y) | +41.4% | +41.1% | +51.1% | +10.9% | -0.8% | -19.8% | -6.7% |
| EBITDA CAGR (3Y) | +47.3% | +207.4% | - | - | - | +125.3% | - |
| Profitability & leverage | |||||||
| Net income margin | +2.4% | +3.5% | +4.8% | +2.7% | +2.9% | -15.6% | -1.4% |
| Return on capital employed | +12.6% | +9.3% | +5.6% | +4.1% | +1.7% | 0.0% | 0.0% |
| Return on net worth | +12.0% | +11.9% | +6.9% | +2.4% | -0.7% | 0.0% | 0.0% |
| Debt / equity | 0.09 | 0.10 | 0.12 | 0.16 | 0.23 | 0.40 | 0.45 |
| Long-term debt / equity | 0.04 | 0.03 | 0.04 | 0.05 | 0.09 | 0.16 | 0.15 |
| Interest cover | 11.75 | 23.11 | 50.18 | 137.47 | -137.50 | -21.12 | -81.21 |
| Efficiency & per share | |||||||
| Fixed asset turnover | 19.06 | 14.74 | 11.33 | 7.83 | 5.54 | 3.13 | 5.44 |
| Inventory turnover | 38.15 | 31.68 | 22.33 | 15.38 | 20.73 | 9.23 | 9.53 |
| Debtors turnover | 6.51 | 5.02 | 4.50 | 5.08 | 4.25 | 2.56 | 4.47 |
| EPS (₹) | 12.62 | 13.65 | 13.81 | 5.31 | 20.82 | (67.33) | (9.85) |
| Dividend per share (₹) | 2.25 | 1.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Book value per share (₹) | 107.13 | 103.11 | 113.92 | 87.06 | 487.49 | 335.12 | 203.98 |
To see the full year-wise statements and ratios of Mafatlal Industries Limited, buy the company report.
Board of directors of Mafatlal Industries Limited
Mafatlal Industries has 8 current directors and 23 former directors. Current directors are listed first, with their designation and appointment date.
Current Directors
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Hrishikesh Arvind Mafatlal | Director | 03 May 1979 | 47 Years 6 Months | Current |
| Atul Kumar Srivastava | Director | 10 Oct 2012 | 14 Years 1 Months | Current |
| Priyavrata Hrishikesh Mafatlal | Managing Director | 01 Nov 2016 | 10 Years 0 Months | Current |
| Desh Deepak Khetrapal | Director | 04 Feb 2025 | 1 Years 9 Months | Current |
| Archana Niranjan Hingorani Also directs: Siana Capital Management LLP, Raiin Resources LLP, The Phoenix Mills Limited and 5 more | Director | 04 Feb 2025 | 1 Years 9 Months | Current |
| Jyotin Kantilal Mehta | Director | 26 Oct 2024 | 2 Years 0 Months | Current |
Showing 6 of 8 current directors. View all directors
Auditor
Mafatlal Industries Limited is audited by Price Waterhouse Chartered Accountants LLP for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| Price Waterhouse Chartered Accountants LLP | FY 2023 | 012754N/ N-500016 |
Shareholding
Shareholding for the quarter ended Sep 2026: promoters hold 69.30%, foreign institutional investors hold 0.30%, domestic institutional investors hold 0.20% and retail and other public shareholders hold 30.20%.
Sep 2026
QUARTER
69.30% Promoters
0.20% DII (Domestic Institutional)
0.30% FII (Foreign Institutional)
30.20% Retail & Others
Promoter holding - history
Now 69.30% · Sep 2026High 69.40% · Dec 2025Low 69.30% · Mar 2026
Shareholding trend - last 6 quarters
| Sep 2026 | Jun 2026 | Mar 2026 | Dec 2025 | |
|---|---|---|---|---|
| Promoters | 69.30% | 69.30% | 69.30% | 69.40% |
| Public | 30.70% | 30.70% | 30.70% | 30.60% |
Charges & borrowings
Open charges
₹339.04 Cr
Satisfied charges
₹611.43 Cr
Breakdown by lending institutions
Latest charge details
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 10 Dec 2025 | 101210630 | Others | ₹35 Cr | Open | |
| 04 Mar 2025 | 101069062 | Others | ₹15 Cr | Open | |
| 17 May 2024 | 100928479 | Others | ₹7.25 Cr | Open | |
| 20 Mar 2024 | 100897787 | Others | ₹20 Cr | Open | |
| 30 Nov 2022 | 100644988 | Others | ₹22 Cr | Open |
To see the full charge records of Mafatlal Industries Limited, buy the company report.
Total charge records: 63 View all charges
Deals & funding
Mafatlal Industries Limited has 30 deals on record (26 market trades, 2 funding rounds, 2 secondary share transfers), with disclosed funding of ₹90 Cr; the latest was in December 2022.
Total deals
30
Market trades
26
Funding rounds
2
Secondary share transfers
2
Disclosed funding
₹90 Cr
Deals on record (5 of 30)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Jul 2017 | Market trade | ₹37.33 Cr | Buyer: Nocil Limited Seller: Navin Fluorine International Limited |
| Jan 2017 | Market trade | ₹9.37 Cr | Buyer: Hridaynath Consultancy Private Limited Seller: an individual |
| Aug 2016 | Market trade | ₹191.07 Cr | Buyer: Nocil Limited , Hrishikesh A Mafatlal Family Trust No 1, an individual Seller: Navin Fluorine International Limited , 2 individuals |
| Aug 2016 | Market trade | ₹190.9 Cr | Buyer: Nocil Limited , Hrishikesh A Mafatlal Family Trust No 1, an individual Seller: Navin Fluorine International Limited , 2 individuals |
| Mar 2013 | Secondary share transfer | Undisclosed | Seller: Kanji Pitamber Forex Private Limited |
To see the full deal history of Mafatlal Industries Limited, buy the company report.
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Mafatlal Industries Limited has 1,046 court cases on record: 521 filed by Mafatlal Industries, 525 filed against it. 195 cases are pending and 851 are disposed.
Total cases
1,046
Filed by the company
521
Filed against the company
525
Pending
195
Disposed
851
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 630 | 354 | 68 |
| High courts | 385 | 158 | 123 |
| Supreme Court | 26 | 12 | 3 |
| NCLT | 5 | 1 | 1 |
Cases on record (5 of 1,046)
| Court | Type of case | Party | Status |
|---|---|---|---|
| District court, Ahmedabad, Gujarat | Criminal complaint | Filed by the company against Medifab Healthcare Pvt Ltd | Pending |
| District court, Mumbai City Civil Court, Maharashtra | Civil suit | Filed by the company against Digigram Fintech Solutions LLP | Pending |
| District court, Mumbai CMM Courts, Maharashtra | Court case (Summary Case) | Filed by the company against Al Mumbai Palace LLP | Pending |
| High Court of Gujarat | Arbitration matter | Filed by the company against Varrada International Pvt Ltd | Pending |
| Bombay High Court | Interim or miscellaneous application | Filed by the company against Akshita Green Spaces LLP and 2 others | Pending |
To see the full case history of Mafatlal Industries Limited, buy the company report.
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
Credit ratings & regulatory alerts
Mafatlal Industries Limited was last rated by Care on 30 Aug 2022.
| Rating agency | Rated on | Rating |
|---|---|---|
| Care | 30 Aug 2022 |
To see the full credit ratings and regulatory alerts of Mafatlal Industries Limited, buy the company report.
MSME payment delays
Mafatlal Industries Limited has 17 MSME Form 1 returns on record between 2019 and 2024, listing 4,380 overdue payments to 67 micro and small suppliers. Companies must report dues to micro and small suppliers that stay unpaid for more than 45 days in a half-yearly MSME Form 1 return.
Suppliers with reported dues (5 of 67)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| Vijay Box Mfg Co | |||
| Giriraj Traders | |||
| Indrasons Industries | |||
| Kunal Organics Private Limited | |||
| an individual supplier |
To see the full MSME payment records of Mafatlal Industries Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Group structure & subsidiaries
Mafatlal Industries has 1 subsidiary company. This group structure data is as of FY 2023. The table lists each entity with its relationship and holding.
1
Subsidiary companies
Key subsidiaries
| Company Name | CIN | Shares held |
|---|---|---|
| Mafatlal Services Limited | U51900MH1962PLC012314 |
To see the full group structure of Mafatlal Industries Limited, buy the company report.
Employees & EPFO
Mafatlal Industries Limited has a workforce of 1,155 employees on its EPFO records as of May 2026, across 8 active EPFO establishments.
Employee count
1,155
Active EPFO establishments
8
Employee growth
8.7%
Headcount by financial year
| Financial year | Employees (EPFO) |
|---|---|
| FY 2026-27 | 1,155 |
| FY 2025-26 | |
| FY 2024-25 | |
| FY 2023-24 | |
| FY 2022-23 | |
| FY 2021-22 | |
| FY 2020-21 | |
| FY 2019-20 | |
| FY 2018-19 | |
| FY 2017-18 | |
| FY 2016-17 | |
| FY 2011-12 | |
| FY 2010-11 | |
| FY 2009-10 | |
| FY 2008-09 | |
| FY 2007-08 | |
| FY 2006-07 | |
| FY 2005-06 | |
| FY 2004-05 | |
| FY 2003-04 | |
| FY 2002-03 | |
| FY 2001-02 | |
| FY 2000-01 | |
| FY 1999-00 |
To see the full employee and EPFO history of Mafatlal Industries Limited, buy the company report.
GST
Mafatlal Industries has 12 GST registrations: 8 active and 4 cancelled or inactive. The first 4 active GSTINs are listed below.
Total GSTINs
12
Active
8
Cancelled / inactive
4
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 07AAACM2813L1ZK | Delhi | Active | 01 Jul 2017 |
| 27AAACM2813L1ZI | Maharashtra | Active | 01 Jul 2017 |
| 37AAACM2813L1ZH | Andhra Pradesh | Active | 08 Jun 2022 |
| 18AAACM2813L1ZH | Assam | Active | 04 Jul 2022 |
To see the full GST registrations and return filing status of Mafatlal Industries Limited, buy the company report.
Recent activity
Mafatlal Industries Limited has 45 board changes on record since 1942: 28 appointments and 17 cessations. The latest: Smita Jhanwar was appointed as CFO on 09 Jun 2025.
Charges
A charge with Others of Rs. 35.00 Cr registered on 10 Dec 2025 with Charge ID 101210630 was modified on 25 Jun 2026.
Filing
Mafatlal Industries Limited has filed its annual Financial statements for the year ended 31 Mar 2026 with Roc Ahmedabad.
Charges
A charge registered on 09 Jan 2025 via Charge ID 101043629 with Others was fully satisfied on 31 Mar 2026.
Charges
A charge registered on 24 Mar 2021 via Charge ID 100437703 with Others was fully satisfied on 18 Mar 2026.
Charges
A charge with Others of Rs. 2.00 Cr registered on 30 Oct 2014 with Charge ID 10530758 was modified on 16 Feb 2026.
Charges
A charge with Others amounted to Rs. 35.00 Cr with Charge ID 101210630 was registered on 10 Dec 2025.
Charges
A charge with Others of Rs. 20.00 Cr registered on 20 Mar 2024 with Charge ID 100897787 was modified on 09 Dec 2025.
Charges
A charge with Others of Rs. 27.50 Cr registered on 24 Mar 2021 with Charge ID 100437703 was modified on 09 Dec 2025.
Charges
A charge with Others of Rs. 30.00 Cr registered on 09 Jan 2025 with Charge ID 101043629 was modified on 16 Oct 2025.
AGM
Mafatlal Industries Limited last Annual general meeting of members was held on 04 Aug 2025 as per latest MCA records.
Charges
A charge registered on 23 Sep 2022 via Charge ID 100617652 with Others was fully satisfied on 30 Jul 2025.
Charges
A charge registered on 19 Jul 2017 via Charge ID 100114451 with Others was fully satisfied on 17 Jul 2025.
174 earlier events are in the company report.
News
Frequently asked questions
Mafatlal Industries is an active public limited company based in Ahmedabad, Gujarat, India. The company works in textile and fabric production, within the manufacturing industry. It was incorporated on 20 January 1913 (113+ years old) and is registered under CIN L17110GJ1913PLC000035. Listed on BSE: 500264 and NSE: MAFATIND.
Mafatlal Industries reported revenue of ₹3,871.07 Cr for FY 2025-26 (up 37.9% YoY) based on consolidated financials.
Mafatlal Industries has 8 current directors:
- Priyavrata Hrishikesh Mafatlal - Managing Director
- Hrishikesh Arvind Mafatlal - Director
- Atul Kumar Srivastava - Director
- Desh Deepak Khetrapal - Director
- Archana Niranjan Hingorani - Director
- Jyotin Kantilal Mehta - Director
- Ashutosh Bishnoi - Director
- Abhay Rohit Jadeja - Director
The latest financial statements of Mafatlal Industries on record with the MCA are for the year ended 31 March 2026. Its last annual general meeting was held on 04 August 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of Mafatlal Industries is 07AAACM2813L1ZK, registered in Delhi. The company has 12 GST registrations in all, of which 8 are active and 4 are cancelled or inactive. Other active GSTINs include 27AAACM2813L1ZI (Maharashtra), 37AAACM2813L1ZH (Andhra Pradesh), 18AAACM2813L1ZH (Assam).
The CIN (Corporate Identification Number) of Mafatlal Industries is L17110GJ1913PLC000035. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Yes. Mafatlal Industries is a listed company as per MCA records. Its shares are listed on both BSE (code: 500264) and NSE (symbol: MAFATIND).
Mafatlal Industries has 1,046 court cases on record: 521 filed by the company and 525 filed against it. 195 are pending. Most are in the district courts.
Mafatlal Industries was incorporated on 20 January 1913, making it 113+ years old. It is registered with the Registrar of Companies, Ahmedabad.
Mafatlal Industries has 30 deals on record (26 market trades, 2 funding rounds, 2 secondary share transfers), with disclosed funding of ₹90 Cr; the latest was in December 2022.
Smita Jhanwar was appointed as CFO on 09 Jun 2025. Milan Shah ceased to be CFO on 31 May 2025. Gautam Gangaprasad Chakravarti ceased to be Director on 29 May 2025. Mafatlal Industries has 45 board changes on record in total.
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