Game Changers TexfabShare price, financial results, shareholding and management
- Market cap
- ₹175 cr
- Stock P/E
- 9.6peers 7.3
- Book value
- ₹49.2
- Price to book
- 1.99
- EV / operating profit
- -
- Market cap to sales
- 1.26
- ROCE · FY26
- 39.7%
- ROE · FY26
- 33.4%
- ROE, 3-year average
- 56.7%
- Operating margin · FY26
- 19.5%peers 8.5%
- Sales growth, 3 years
- 11.5%
- Profit growth, 3 years
- 163.2%
- Debt to equity
- 0.15peers 0.88
- Borrowings
- ₹13 cr
- Interest cover
- 16.1×
- Cash from business / op. profit
- -148%
- Debtor days
- 129
- Pledged
- 0.00%
- Promoter holding
- 69.02%
- Change in promoter holding
- 0.00 pts
- Shareholders
- 409
- 52-week high / low
- ₹162 / ₹78
- Dividend yield
- 0.00%
- Face value
- ₹10
Tap or hover on any figure for what it means. Our arithmetic on reported figures, at the latest close.
Game Changers Texfab share price chart
Close on 30 Oct 2026 · +3.98% on the day · Vol 2,400
Daily prices to 30 Oct 2026, adjusted for splits and bonuses. Closing prices only: check the exchange for the live price.
Share price returns
To the close of 30 Oct 2026
- 1 month
- -3.2%
- 3 months
- -2.3%
- 6 months
- -8.4%
- Traded a day, 20 days
- ₹0.04 cr
Business growth
Sales and net profit, from the reported results
| Sales | Profit | |
|---|---|---|
| FY26 on FY25 | +21% | +52% |
| 3 years, a year | +12% | +163% |
| Latest half, H2 FY26 | +36% | +42% |
About Game Changers Texfab: business, products and customers
Game Changers Texfab sells fabric under the TradeUNO name, in bulk to garment makers, brands and exporters, and to designers, tailors and shoppers through its own showrooms and website. Its shares trade on BSE SME.
The company is a fabric trader, not a mill. It buys from about six hundred suppliers through sourcing offices in Indian textile clusters, gathers small orders so buyers can meet mill minimums, and sells cotton, silk, printed, occasion and imported technical fabrics such as PVC coated and outdoor cloth. Some goods are made for it by outside job work units it calls deemed manufacturing, which brought in ₹22.2 cr of FY26 sales; it owns no factory and had 35 permanent employees at March 2026.
Bulk sales to garment makers, brands and exporters were ₹119.9 cr of FY26 sales. The rest, ₹18.8 cr, came from its experience centres at Udyog Vihar and Golf Course Road in Gurugram and online, and since 26 August 2026 a third centre of about 10,000 sq ft at Lajpat Nagar, Delhi. Its Fall in Love brand sells semi stitched and made to measure garments, and it also supplies school uniform fabric.
Read more about the business
Trading shapes the numbers. Sales carry the full value of the fabric, so profit is a thin spread on a large turnover; the company says shop sales earn far more per rupee than bulk sales, and that paying suppliers early earns cash discounts of 3% to 7% that go straight to profit. The other side is cash: in FY26 it gave tariff hit exporters a month of extra credit, adding the interest to its prices, so money owed by customers nearly doubled while it was paying its own suppliers faster.
The market is crowded with small unorganised traders and shops; the company says it competes on sourcing, its shop format and institutional ties rather than on price alone. In its May 2026 presentation it benchmarked itself against larger listed clothing retailers: Sai Silks (Kalamandir) and Vedant Fashions in ethnic wear, Go Fashion (India) in women's bottom wear and Kewal Kiran Clothing in branded apparel, all of which retail finished garments through their own stores.
From the FY26 annual report, the May 2026 investor presentation and the November 2025 earnings call.
Read the deeper study ↓In its favour
- It earns a high return on the money it uses: ROCE 40% in FY26.
- It has little debt for its size: debt to equity 0.15.
- The promoters own a large part of the company: 69.02%.
To watch
- Results for the half year to 30 September 2026, the first with the Lajpat Nagar centre, and whether customers' unpaid bills come down; the company said in November 2025 it aims to bring its cycle back to sixty eight days (trading window notice, 28 September 2026; Earnings call, November 2025, p.9).
- The auditor's emphasis of matter: customer, supplier and loan balances not yet confirmed, the ₹3.9 cr income tax demand for FY2017-18 and a ₹0.11 cr GST demand, both under appeal without provision (Annual report FY26, p.95 and p.143).
- Compliance record: statutory dues paid late, with ₹0.51 cr interest and ₹0.11 cr penalties in FY26; stock statements to the bank differing from the books; IPO costs above the prospectus estimate; past ROC and BSE penalties (Annual report FY26, p.79, p.104 to p.106).
- Spending of the IPO money still unused at March 2026, including most of the ₹15.0 cr set aside for capital spending, against the plan for six new experience centres (Annual report FY26, p.55 and p.130).
- Customers take longer to pay than before: 129 days in FY26, against 78 in FY22.
From the company's documents first, then the reported figures read by fixed rules, the same for every company. Facts, not a view on the shares.
Game Changers Texfab revenue and profit growth
Half-yearly results · Profit and lossSales have grown steadily. Last year profit grew faster than sales, so the company kept more from each rupee of sales.
SME companies report every six months. In the latest half, sales were higher than in the same half a year before. Profit grew faster than sales.
Game Changers Texfab half-yearly results
SME companies report every six months · ₹ crore
| H1FY25 | H2FY25 | H1FY26 | H2FY26 | |
|---|---|---|---|---|
| Sales | 55 | 60 | 57.23 | 81.52 |
| Expenses | 48 | 49 | 44.98 | 66.73 |
| Operating profit | 7 | 11 | 12.25 | 14.79 |
| OPM | 14.0% | 18.0% | 21.4% | 18.1% |
| Interest | 0 | 1 | 0.64 | 0.99 |
| Depreciation | 0 | 1 | 0.64 | 0.73 |
| Profit before tax | 7 | 9 | 11.04 | 13.56 |
| Net profit | 5 | 7 | 8.31 | 9.93 |
Game Changers Texfab profit and loss
Full years to March, FY22 to FY26 · ₹ crore, consolidated where reported
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Sales | 35 | 100 | 98 | 115 | 138.75 |
| Expenses | 34 | 99 | 91 | 97 | 111.71 |
| Operating profit | 1 | 1 | 7 | 19 | 27.04 |
| OPM | 2.2% | 1.3% | 7.0% | 16.0% | 19.5% |
| Other income | 0 | 0 | 0 | 0 | 0.56 |
| Interest | 0 | 1 | 1 | 2 | 1.63 |
| Depreciation | 0 | 0 | 0 | 1 | 1.37 |
| Exceptional and other items | -1 | 1 | · | · | · |
| Profit before tax | 0 | 1 | 6 | 16 | 24.60 |
| Tax rate | 25.0% | 0.0% | 33.3% | 25.0% | 25.9% |
| Net profit | 0 | 1 | 4 | 12 | 18.23 |
| EPS ₹ | 0.12 | 0.42 | 3.42 | 9.64 | · |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
The years to FY25 come rounded to the nearest crore in the source.
Exceptional and other items: profit before tax beyond operating profit, other income, interest and depreciation, such as one-off items or a share of associates' profit, as reported.
Earnings per share is left blank where the source shows zero against a profit.
Earnings per share before FY24 is on the share count of that time, before later bonus or share issues, so it does not compare with the years after.
Game Changers Texfab profitability
Margins and returns on capitalLast year the company kept more from each rupee of sales than the year before. It earns a high return on the money it uses.
Operating margin, every year
Per cent of sales kept before interest, depreciation and tax
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Operating margin | 2.2% | 1.3% | 7.0% | 16.0% | 19.5% |
| Tax rate | 25.0% | 0.0% | 33.3% | 25.0% | 25.9% |
| ROCE | · | 19.9% | 45.1% | 72.0% | 39.7% |
| ROE | · | 24.8% | 56.9% | 79.9% | 33.4% |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Game Changers Texfab debt and cash flow
Balance sheet · Cash flow · Working capitalThe company's own money, its net worth, has grown fast. Its loans are smaller than its own money. Last year the business used more cash than it brought in. It spent more on assets and investments than the business brought in, and raised the rest from loans or shares. Customers take longer to pay than they did in FY24, which ties up more of the company's money in unpaid bills.
Bars below the line are cash going out.
Game Changers Texfab balance sheet
At each 31 March · ₹ crore
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Equity capital | 0.03 | 0.03 | 0.03 | 13 | 18 |
| Reserves | 3 | 5 | 9 | 8 | 70 |
| Net worth | 3.03 | 5.03 | 9.03 | 21 | 88 |
| Borrowings | 5 | 7 | 10 | 10 | 13 |
| Other liabilities | 3.97 | 9.97 | 21.97 | 20 | 9 |
| Total liabilities | 12 | 22 | 41 | 51 | 110 |
| Fixed assets | 1 | 1 | 6 | 6 | 9 |
| Capital work in progress | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 5 |
| Other assets | 11 | 21 | 35 | 45 | 96 |
Game Changers Texfab cash flow
₹ crore
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Cash from operations | 0 | -2 | 3 | 3 | -40 |
| Cash from investing | 0 | 0 | -1 | -2 | -8 |
| Cash from financing | 0 | 2 | -2 | -2 | 50 |
| Net cash flow | 0 | 0 | 0 | -1 | 2 |
Working capital
Days
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Debtor days | 78 | 51 | 64 | 84 | 129 |
| Inventory days | · | · | · | 64 | 67 |
| Days payable | · | · | · | 62 | 18 |
| Cash conversion cycle | 78 | 51 | 64 | 86 | 178 |
| Working capital days | 9 | 9 | 27 | 57 | 198 |
Game Changers Texfab peers and competitors
Listed SME companies in the same industryBy sales, Game Changers Texfab is number 28 of the 62 listed SME companies in textiles & apparels.
Each company's latest full year and its latest close; companies the exchange puts in the same industry, whose businesses can differ a good deal. A list, not a comparison of their shares.
| Company | Market cap ₹ cr | P/E | Sales ₹ cr | Profit ₹ cr | Op. margin | Debt/equity |
|---|---|---|---|---|---|---|
| Kaytex Fabrics | 79 | 4.6 | 161 | 17.4 | 18.6% | 0.21 |
| United Cotfab | 22 | 5.6 | 155 | 4 | 4.8% | 1.02 |
| Titaanium Ten Enterprise | 17 | 5.7 | 152 | 3 | 5.0% | 1.04 |
| Shreedhar Spinners | 332 | 55.4 | 146 | 6 | 12.0% | 3.87 |
| Avi Ansh Textile | 141 | 108.8 | 141 | 1.3 | 4.6% | 0.84 |
| Game Changers Texfab | 175 | 9.6 | 139 | 18.2 | 19.5% | 0.15 |
| Kiaasa Retail | 53 | 4.8 | 135 | 11 | 17.0% | 0.78 |
| NAPS Global India | 30 | 15.0 | 134 | 2 | 1.8% | 0.00 |
| Paramount Syntex | - | - | 122 | 14 | 19.0% | 0.77 |
| Neelam Linens and Garments (India) | 14 | 8.8 | 118 | 1.6 | 4.4% | 1.68 |
| Ashutosh Fibre | - | - | 117 | 16 | 26.0% | 0.92 |
| Median of the 10 others | 42 | 7.3 | 138 | 5 | 8.5% | 0.88 |
Game Changers Texfab shareholding pattern
Promoters, FIIs, DIIs, HNIs and small holdersThe promoters own more than half the company. Big foreign and Indian funds own very little. The number of shareholders has come down.
Game Changers Texfab shareholding pattern
Per cent of shares, from the patterns filed with the exchange. Tap + to see everyone holding 1% or more in that group. HNIs and small holders show only where the pattern was filed in full.
| Nov 25 | Mar 26 | Jun 26 | Sep 26 | |
|---|---|---|---|---|
| Promoters | 69.02% | 69.02% | 69.02% | 69.02% |
| Foreign investors (FIIs) | 7.65% | 0.59% | - | - |
| Indian institutions (DIIs) | 5.51% | 0.68% | - | - |
| Number of shareholders | 905 | 398 | 419 | 409 |
Game Changers Texfab study: the business from its own documents
Read from 4 of the company's own documentsGame Changers Texfab key facts from the filings
Each figure with the document it comes from
- Shop and online sales
- ₹4.9 cr → ₹18.8 cr
- FY24 to FY26; about a seventh of sales now, the rest is bulk fabric to businesses.Investor presentation, May 2026, p.21 and p.23
- Large customers
- 4 = 39.77%
- Four buyers each above a tenth of sales made up this share of FY26 sales; three made up 50.16% in FY25.Annual report FY26, p.145
- Money owed by customers
- ₹26.6 cr → ₹49.0 cr
- March 2025 to March 2026; the company links it to extra credit given to exporters during tariff and war disruptions.Annual report FY26, p.58 and p.96; Earnings call, November 2025, p.9
- Old dues
- ₹3.2 cr
- Owed for one to two years at March 2026; the company has taken legal action in some cases.Annual report FY26, p.96
- Supplier payment days
- 71 → 36
- Paid suppliers much faster in FY26, which earns cash discounts but uses cash.Annual report FY26, p.147; Earnings call, November 2025, p.14
Show 5 more facts
- IPO money unspent
- ₹15.1 cr
- Of ₹54.8 cr raised at ₹102 in November 2025, held in deposits at March 2026; most of the ₹15.0 cr meant for capital spending was still unused.Annual report FY26, p.106 and p.130
- Experience centres
- 3
- Two in Gurugram and the Lajpat Nagar flagship opened on 26 August 2026, about five months after the date given in November 2025.Annual report FY26, p.15 and p.17; Earnings call, November 2025, p.10
- Income tax demand
- ₹3.9 cr
- For FY2017-18, under appeal and not provided for; interest of ₹1.5 cr more is stated on it.Annual report FY26, p.143
- Sales to a related firm
- ₹3.9 cr
- FY26 sales to Tirpal Udyog, whose proprietor is the father of director Ankur Aggarwal.Annual report FY26, p.63 and p.144
- Bank credit line
- ₹25.0 cr
- Working capital limit from Axis Bank, secured on a property of the promoters' firm and guaranteed by the promoters.Annual report FY26, p.131 and p.146
What the company said, and what happened
The company's own statements, attributed, set against what it later reported; not newboard's estimates
In its September 2026 annual report the company says it plans six new experience centres in Tier 1 and Tier 2 cities, a move into technical textiles through overseas partners, and more online selling. In November 2025 the Managing Director said the company aims to raise shop and online sales to a fifth or a quarter of sales and technical textiles to about 15% by 2028. The May 2026 presentation sets growth targets for sales and profit over the next three years and a move to the main board within three years.
| What management said | When | What happened |
|---|---|---|
| FY26 sales of ₹147 cr to ₹150 cr | November 2025 earnings call | ₹138.7 cr |
| FY26 profit of ₹18 cr to ₹20 cr | November 2025 earnings call | ₹18.2 cr |
| Lajpat Nagar centre running by 25 March 2026 | November 2025 earnings call | Opened 26 August 2026 |
Is it a good business? Six questions
Each answer is about that one question, read from the documents; tap one for the evidence. Not a view on the shares.
Game Changers Texfab makes money on the gap between what it pays mills and what buyers pay for fabric, and it earns more on shop sales and early payment discounts.
Its weak spot is cash: it lets many buyers pay late, a few large buyers bring in much of its sales, and some old dues are in legal recovery.
AverageCan it set its own prices?It earns more where it sells to shoppers and when it pays suppliers early, but most sales are bulk fabric in a market full of small traders.
AverageHow strong is it against rivals?A wide sourcing network and overseas tie ups help, but a trading business with no plants is not hard for others to copy.
WatchWho are its customers?A few large business buyers bring much of the sales, many of them exporters squeezed by US tariffs, and some dues are old.
WatchDoes it need a lot of money?It needs little for buildings or machines but a lot to carry customers' dues and stock, and that need jumped in FY26.
AverageCan it keep finding new work?Shop and online sales are growing and more centres are planned, but bulk orders come one at a time and recent targets slipped.
AverageDo good and bad years swing a lot?Bulk demand moves with exporters' fortunes and trade rules, and shop sales follow festive and wedding seasons.
Who runs Game Changers Texfab?
Promoters, directors and officers; tap a name for the background
FMForce Multiplier Ecommerce Pvt LtdPromoter and holding company · holds 69.02%
Holds 1,23,49,597 shares. In FY25 the company bought a website from it for ₹1.44 cr.
Annual report FY26, p.130 and p.144SGSanjeev GoelPromoter, co-founder and Managing Director
B.Tech in computer engineering and M.Tech in management and systems, which the presentation states is from IIT Delhi; over 35 years in IT strategy and business operations, including Joint President at Aditya Birla Group, VP at Novelis and CIO at Hindalco Industries. Director since 20 October 2016 and Managing Director for five years from 16 December 2024; drew no pay in FY26. The proprietor of Capital Canvas Company, which trades with the company, is stated to be a brother of Sanjeev Goel.
Annual report FY26, p.9, p.43, p.67 and p.144; Investor presentation, May 2026, p.10AAAnkur AggarwalPromoter, co-founder, Executive Director and CFO
Described as a textile industry veteran with experience in fabric manufacturing, export and B2B marketplaces, and an MBA in marketing; director since 1 August 2015; drew no pay in FY26. The annual report states that Ankita Aggarwal, wife of Ankur Aggarwal, is employed by the company, that the proprietor of Tirpal Udyog is the father of Ankur Aggarwal, and that the company took and repaid a loan of ₹1.50 cr from Kavita Aggarwal, mother of Ankur Aggarwal, in FY26.
Annual report FY26, p.43, p.63, p.64 and p.144; Investor presentation, May 2026, p.10RGRashmi GoelNon-Executive Woman Director
Over 36 years in textile and fabric trading as proprietor of a trading firm, with experience in sourcing and supply chains; director since 8 October 2024.
Annual report FY26, p.24 and p.43VPVed Parkash GoelIndependent Director, chair of the audit committee
Over 32 years in materials management, sales and business development in textiles, with roles at Vardhman Group, DCM Textiles and Indo Rama Synthetics.
Annual report FY26, p.24 and p.43SMSwapnil Madhusudan DigheIndependent Director
Over 37 years in IT and digital transformation; heads the project management office for Teradata in Asia, earlier at Deloitte, Oracle and TCS.
Annual report FY26, p.24; Investor presentation, May 2026, p.11PSPratiksha SinghIndependent Director
Commerce graduate and associate member of the ICSI, practising in corporate law and compliance. Appointed on 25 November 2025 in place of Vishal Agrawal, who resigned as independent director that day citing other preoccupations.
Annual report FY26, p.6 and p.80DGDivya GaurCompany Secretary and Compliance Officer
Appointed 22 June 2026 after Nikunj Gupta resigned on 25 May 2026.
Annual report FY26, p.40Game Changers Texfab latest news and announcements
Announcements · Documents · Corporate actionsWhat changed recently
Each half-year is set against the same half a year earlier
- H2 FY26: sales ₹81.5 cr (+36%), net profit ₹9.9 cr (+42%) on H2 FY25.
- Shareholding, 30 Sept 2026: promoters unchanged at 69.02%.
Game Changers Texfab announcements
3 on record, latest first; each opens the filing on the exchange
- AGM/EGMVoting results alongwith Scrutinizer report of the 11th AGM of Game Changers Texfab Limited held on 29th September, 2026PDF ↗
- AGM/EGMSummary of proceedings of 11th AGM of Game Changers Texfab Limited held on Tuesday, 29th September, 2026 at 01:00 PMPDF ↗
- Insider Trading / SASTThe Trading window for dealing in equity shares of the Company shall remain closed from 01st October 2026 till 48 hours after declaration of Financial Results oPDF ↗
Game Changers Texfab annual reports, earnings calls and documents
Every document links to its source; “read” marks those this page is built from
Game Changers Texfab share split, bonus and dividends
From the corporate actions the company announces on the exchange
No share split, bonus issue or dividend is on record since listing.
Checks we ran on Game Changers Texfab's data · 8
Before any number shows, it goes through the same checks. A figure that fails is held back, never shown as if it were right.
- ✓Balance sheet totals add up for FY25 and FY26.
- ✓Market cap uses the share count in the latest shareholding pattern (1,78,92,814 shares).
- ✓The share capital in the FY26 results matches the share count in the shareholding pattern.
- ✓Promoter and public holdings add up to 100% in every shareholding pattern shown.
- ✓The two half-years of FY26 add up to the full-year sales.
- ✓Earnings per share moves in line with profit across the years shown.
- ✓Revenue and profit are reported for every year shown, FY22 to FY26.
- iPrices run to the close on 13 Oct 2026, from the exchange's daily figures.
Questions people ask about Game Changers Texfab
What does Game Changers Texfab do?
Game Changers Texfab sells fabric under the TradeUNO name, in bulk to garment makers, brands and exporters, and to designers, tailors and shoppers through its own showrooms and website. Its shares trade on BSE SME.
What is the share price of Game Changers Texfab?
₹98 at the close on 30 Oct 2026, from the exchange's daily figures.
What is the market cap of Game Changers Texfab?
₹175 cr at the close on 30 Oct 2026, on 1,78,92,814 shares.
What is the P/E of Game Changers Texfab?
9.6 times FY26 profit at the close on 30 Oct 2026 (our arithmetic).
What are Game Changers Texfab's revenue and profit?
Revenue ₹139 cr and profit after tax ₹18 cr in FY26.
Who are the promoters of Game Changers Texfab?
Force Multiplier Ecommerce Pvt Ltd, Sanjeev Goel, Ankur Aggarwal; promoters held 69.02% at 30 Sept 2026.
What is Game Changers Texfab's website?
www.tradeuno.com
More SME companies like Game Changers Texfab
Other listed SME companies in textiles & apparels, the closest in size first, each read from its own documents.
- Vivekanand CotspinVIVEKANAND · BSE SME · Textiles & ApparelsMarket cap ₹180 cr
- N R Vandana Tex IndustriesNRVANDANA · NSE Emerge · Textiles & Apparels · listed 2025Market cap ₹164 cr
- Fascinate TextilesFASCINATE · NSE Emerge · Textiles & Apparels · listed 2026Market cap ₹162 cr
- Fractal IndustriesFIL · BSE SME · Textiles & ApparelsMarket cap ₹153 cr
- S D RetailSDREAMS · NSE Emerge · Textiles & Apparels · listed 2024Market cap ₹148 cr
- Avi Ansh TextileAVIANSH · NSE Emerge · Textiles & Apparels · listed 2024Market cap ₹138 cr
Built from 1 result filing, 1 earnings call transcript, 1 investor presentation, 1 annual report, 3 exchange announcements, 4 shareholding patterns and 5 years of reported results. Every figure carries its source; where the documents are silent, the page says so.